Home Blog Page 57

PRCA MENA ANNOUNCED CONFERENCE AND DIGITAL AWARDS 2023

By
Sahfy Sahfy
-

PRCA MENA, the leading professional association for public relations and communications in the Middle East and North Africa, is thrilled to announce their Conference and Digital Awards 2023, set to take place on Wednesday, 8th November, at the Mӧvenpick Hotel & Residences Riyadh in Riyadh, Saudi Arabia.

The half-day conference will feature an array of insightful sessions aimed at empowering PR and digital communications professionals. The programme will include thought-provoking sessions such as “The Value of the PR Industry in the MENA region,” “AI vs. PR – Embrace the Revolution,” “PR Agencies in Saudi Arabia – Changes and Challenges,” and “Saudi VISION 2030 and PR” – Where Excellence Meets Innovation.”

Highlighting the rapidly evolving PR and digital communication landscape, these sessions will provide attendees with exclusive industry insights and strategies to succeed in a competitive market. PRCA MENA is dedicated to fostering growth, innovation, and excellence in the region’s PR industry, and this conference stands as a testament to its commitment.

As the sun sets, the focus will shift to the highly anticipated PRCA MENA Digital Awards gala dinner, commencing at 7:00 PM in the settings of the Mӧvenpick Hotel. These awards will recognise and honour the PR talents and outstanding campaigns in the digital communications realm. They serve as a platform to acknowledge and celebrate the exceptional work that is driving the digital landscape forward.

The Digital Awards are now open for submissions, and categories can be seen here.

Monika Fourneaux, Head of PRCA EMEA, commented, “We are thrilled to invite you for a day filled with knowledge-sharing, networking, and inspiration. The Conference and Digital Awards celebrations will bring together like-minded professionals, industry experts, and visionaries from across the MENA region and beyond. Together, we will shape the future of PR and digital communication, setting new standards of excellence.”

For more information and registration for the Conference and Digital Awards Gala Dinner, please visit https://prca.mena.global/events/prca-mena-conference-and-digital-awards-2023/

Agthia and Brazil Set to Strengthen Bilateral Ties

By
Sahfy Sahfy
-

Brazil’s Minister of Agriculture, Livestock and Food Supply, H.E. Carlos Fávaro, who is on a state visit to the UAE, visited the Abu Dhabi headquarters of Agthia, the parent company of Al Foah – the world’s largest exporter of dates, accompanied by H.E. Ambassador Eliana Zugaib, Chargé d’affaires at The Embassy of Brazil in Abu Dhabi.

During the meeting with Agthia and Al Foah’s leadership, the delegation interacted with Mubarak Al Mansoori, President – Snacking & Government Relations, and discussed ways to expand collaboration, commercial ties, and trade, as well as Al Foah’s pivotal role in promoting dates and their ingredients as a superfood in the region. The populous nation is the world’s fifth-largest country and home to more than 200 million people. It is also a key market in Al Foah’s new market entry strategy, alongside the US, Japan, and other countries. Al Foah’s products are currently present in more than 1000 stores across Brazil and achieved a tenfold increase in its exports to the country since 2021.

Carlos Fávaro, Minister of Agriculture, Livestock and Food Supply in Brazil, said, “Brazil is the business and cultural gateway to South America, is an important trade partner for the UAE and Agthia. Today’s meeting with the Agthia and Al Foah team underscores the growing trade relationship between our two great nations, which has reached new heights in the past years”.

Mubarak Al Mansoori, President – Snacking & Government Relations, Agthia, said, “The accelerated expansion of Agthia Group’s exports to Brazil, particularly Al Foah dates, reflects our close relationship. Our partnership with the Brazilian government extends beyond commercial relations, as we cooperate to transfer Al Foah’s expertise in the dates processing industry. We look forward to collaborating closely with Brazilian experts and forging a mutually beneficial strategic alliance.”

Al Foah serves a network of more than 24,000 date farmers across the UAE, bringing knowledge, technology, and support to nurture high-quality crops. The company produces between 120,000 to 130,000 metric tonnes of dates per year, with approximately 90% of its production exported to over 48 countries worldwide.

United kingdom-Gulf States Trade Deal on Track

By
Sahfy Sahfy
-
Britain's Foreign Secretary James Cleverly shakes hands with Kuwait's Foreign Minister Sheikh Salem Al Sabah in Kuwait City, Kuwait July 26, 2023. KUNA/Handout via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY

 

Total trade between the UK and GCC countries rose by more than 70 percent to £64.5 billion ($82.7 billion) in the year to the end of March, driven by rising oil prices and a demand for services as Gulf states move to diversify their economies.

According to an AGBI analysis of statistics released by the UK’s Department for Business and Trade on Tuesday, trade in goods and services eclipsed last year’s figure of £37 billion.

Over £15 billion of trade consisted of UK imports of oil and gas from GCC countries.

The fourth round of negotiations on a free trade agreement took place last week in London.

Discussions were held across 23 policy areas over 44 sessions and “good progress” was made, a government statement said.

Freddie Neve, senior Middle East associate at analyst Asia House, told AGBI that oil still accounts for a significant portion of UK-Gulf trade.

Average prices rose to $100 a barrel last year, compared with almost $70 in 2021.

“The UK has increased its purchases of Gulf oil and gas since the start of the Ukraine conflict to compensate for supplies it previously received from Russia,” Neve said.

Neve added that trade also continues to be boosted by the GCC’s efforts to diversify away from oil. This has encouraged growth in Gulf imports of UK professional services to assist delivery of various projects.

UK exports of services to the region rose significantly last year to nearly £18 billion.

Saudi Arabia, for example, is undergoing a major transformation with giga-projects such as Neom taking shape.

 

Chris Innes-Hopkins, UK executive director of the Saudi British Joint Business Council, said the latest figures reflected a “growing engagement” by UK companies in new sectors of the fast-growing Saudi economy.

 

“The services sector is particularly buoyant and it’s good to see many smaller UK companies getting involved in fintech, creative industries and education opportunities among others,” he said.

 

Foreign secretary James Cleverly highlighted the UK’s growing partnership with Gulf countries last week during a three-day visit to Qatar, Kuwait and Jordan.

 

The UK government has announced that citizens from Gulf countries and Jordan will be among the first to benefit from the UK’s new Electronic Travel Authorisation visa scheme, which will make travel to the British isles cheaper and easier for visitors.

 

According to the Department for Business and Trade figures, the UAE was the UK’s largest trade partner in the Gulf last year, followed by Saudi Arabia.

 

Bradley Jones, executive director of the UAE-UK Business Council, said the Cop28 environmental conference, which will be hosted in Dubai later this year, is “really drawing attention” to opportunities for UK-UAE collaboration in sustainability and decarbonisation.

 

Lord Dominic Johnson, a minister of state in the UK’s Department for Business & Trade, added: “We are seeing extraordinary rates of growth for British companies operating in the Gulf.

“I spoke to one of the big accounting firms. They’re looking at 35 per cent annual growth.”

He said that he met a number of construction and infrastructure companies last month at the prime minister’s business reception in Downing Street who are reporting ”phenomenal rates of growth”, particularly in Saudi Arabia.

UK secretary of state for business and trade, Kemi Badenoch, visited Qatar, Saudi Arabia and the UAE in May to maintain momentum on the potential trade deal.

 

The European Bank for Reconstruction and Development supports the water sector in Egypt through the New Urban Communities Authority

By
Sahfy Sahfy
-

The European Bank for Reconstruction and Development (EBRD) is supporting the development of Egypt’s urban infrastructure sector by investing EGP 927 million (€ 27 million) in a securitised local currency bond issued by El Taamir for Securitization Company (El Taamir), a special purpose vehicle set up by the New Urban Communities Authority (NUCA).

This investment is part of the EGP 20 billion Issuance of September 2022, which is the largest securitised issuance in Egypt to date and benefits from a guarantee by the country’s Ministry of Finance. It was listed on the Egyptian stock exchange in November 2022.

NUCA has developed more than 40 cities with solid support from the private sector, including developers and contractors. NUCA will use the proceeds of the bond issuance for capital and operating expenditures.

The Bank’s investment will support a range of municipal infrastructure projects covering drinking water, sanitation, treated water storage and pumping stations, street lighting and power transmission.

Egypt has been undertaking a number of initiatives to achieve inclusive and sustainable growth in cities. The Bank will provide a comprehensive technical cooperation package to help NUCA build a sustainable path for water management in one of its new cities. This will include a gender-responsive water assessment to ensure that sustainable and inclusive governance of water resources benefits women and men equally.

The EBRD’s investment will also contribute to the development of green capital market products in the country, with dedicated technical support in preparation for NUCA’s potential green bond issuance.

The €810,000 technical support package is funded by the Netherlands through the High-Impact Partnership on Climate Action (HIPCA, also supported by Austria, Canada, Finland, Korea, Switzerland, Spain, TaiwanICDF and the United Kingdom) and the EBRD’s own funds.

Since 2012 the EBRD has invested over €10.4 billion in more than 160 projects in Egypt, with almost 55 per cent of its portfolio invested in sustainable infrastructure.

Aurora50 Launches NOORA, a New Corporate Network for Women in Abu Dhabi

By
Sahfy Sahfy
-

NOORA will see corporate leaders, senior women and other inclusion allies commit to achieving the UN’s Sustainability Development Goal of gender equality (SDG 5).

Research has revealed that networking allows women to form an inner circle and become leaders, helping private-sector organisations meet UAE targets for Emiratis and women in leadership.

The network and partnership were officially launched at the Women’s Pavilion in Dubai’s Expo City

Aurora50, the UAE-based training and development company dedicated to creating thriving, inclusive workplaces, in partnership with Abu Dhabi National Energy Company PJSC (TAQA), Accenture, Emirates Global Aluminium (EGA), Emirates Group, and ENOC, have announced the launch of a new membership community, NOORA to support ambitious corporate women, from first-time managers, through to leaders of leaders.

Supporting the UAE’s continued efforts to achieve 30% women’s representation in leadership roles, the new network is dedicated to women in the country and provides members with unlimited access to a real-world community of like-minded and ambitious women from diverse professional backgrounds, industries and nationalities.

The need to create such networks was highlighted in research from the US Kellogg School of Management, which revealed that women with a strong inner circle are more than three times more likely to be promoted than those without. Yet, women account for only 31% of senior roles globally.

Diana Wilde, co-founder of Aurora50, said: “We are delighted to launch NOORA with such influential and committed founding partners. Together we are forming a real-world community for like-minded and ambitious women.

“Research shows women climb the career ladder faster when they have a strong network. But no networks have existed in the UAE for the ambitious corporate career woman until now. Members will also be given opportunities to lead collaborations and solve industry challenges. Women will lead with impact”, Diana Wilde added.

Members of Noora will have the opportunity to participate in face-to-face workshops addressing industry challenges and will also have regular opportunities to network in person. Additionally, they can connect via the online membership platform at any time.

NOORA has two chapters: a lobby for first-time managers and a mezzanine for established leaders.

Nabil Almessabi, Chief Human Resources Officer at TAQA, commented: “TAQA is pleased to be a founding partner with Aurora50 on the launch of the NOORA program which will act as an important platform for networking as well as provide a community for professional women across several sectors. At TAQA, we are committed to identifying opportunities that will empower and enhance the experience of our female employees and create an ecosystem where they thrive professionally and have fulfilling careers at TAQA.”

TJ Lightwala, Accenture’s Marketing Senior Practice Lead & Inclusion and Diversity lead in the Middle East, said: “At the heart of every successful business lies the undeniable power of accessible, creative, and untapped talent. At Accenture, we wholeheartedly champion open, honest, and meaningful conversations that drive us toward achieving equality for all. Being part of the Noora initiative reflects our commitment to building a workplace culture that celebrates diversity and equality, fueled by visionary leadership. Through tangible actions and unwavering support, we strive to create an inclusive organisation where women thrive and break through barriers, ensuring they reach their full potential.”

Katherine Hahm, General Counsel and Head of Ethics & Business Integrity at Emirates Global Aluminum, said: “EGA is proud to be a founding partner of NOORA, a dedicated community designed to support ambitious women at all levels of leadership. At EGA, we’ve always championed the advancement of women in our industry, understanding that their unique perspectives and skills are integral to our success. NOORA provides a much-needed platform for women to forge connections, exchange ideas and amplify their professional growth. This partnership demonstrates our belief in the potential and capabilities of women in our industry and beyond. We’re excited to be a part of this journey, and we’re looking forward to seeing the transformative impact of NOORA on the UAE’s corporate landscape.”

Oliver Grohmann, Senior Vice President Human Resources at the Emirates Group, said: “We’re pleased to partner with Aurora50 and be a launch partner of the NOORA initiative. This dovetails with our continued efforts to empower all women at the Emirates Group, and we hope to inspire other businesses to follow suit. We believe that by combining resources, expertise and networks, we can accelerate the creation of a pipeline of women leaders who can make long-lasting impact on our industries and community.”

His Excellency Saif Humaid Al Falasi, Group CEO, ENOC, said: “We are delighted to announce our partnership with Aurora50 to launch the “NOORA” initiative. This partnership represents a strategic step for ENOC Group towards empowering our female employees and fostering an environment that champions their success. The UAE is one of the leading nations in the MENA at achieving and promoting gender equality, with women playing a vital role in building the community, economy and future of our country. Supporting the UAE’s continued efforts towards empowering women we at ENOC Group continuously look for such partnerships to benefit and offer valuable insights and skills, supporting their personal and professional growth, ultimately to benefit the entire Group as we strive for excellence together”.

Agthia Group H1 2023 results – A Strong First Half: On Track to Meet Full Year Guidance‏

By
Sahfy Sahfy
-

Agthia Group PJSC, one of the region’s leading food and beverage companies, today announced its results for the six months ending 30 June 2023. The Group delivered a strong performance during the first half – despite the currency headwind in Egypt and some demand phasing in Q2 from the earlier Ramadan and Eid holidays – with double-digit EBITDA growth reflecting strong growth in profitability across Snacking and Water, a laser focus on profit protection in Egypt, as well as further group-wide production and distribution economies.

Financial highlights

 Group net revenue increased 10.3% year-on-year to AED 2.2 billion (6% growth from pricing and 6.7% from volume#) reflecting a strong volume and value performance from dates, underpinned by premiumization and innovation, and good growth in Flour, our Food Portfolio, and international Water, which cushioned the adverse impact of currency devaluation in Egypt, price-elasticity in Saudi Protein and a more promotional and competitive landscape in Jordan.

Adjusting for the impact on revenue of currency devaluation in Egypt (AED -197 million), Group net revenue increased +20% year-on-year, with growth of 45% and 12% respectively from the Snacking and Agri segments, 21% growth from Protein and Frozen excluding currency impact, and 6% growth from Water and Food. LFL revenue, including Abu Auf in the prior comparable period, increased 3.1% year-on-year in AED terms.

  • EBITDA growth was ahead of revenue, up 18.3% year-on-year to AED 318.8 million (+31% excluding currency headwind), reflecting strong growth in profitability across Snacking and Water, a laser focus on profit protection in Egypt, as well as further group-wide production and distribution economies. In Snacking, strong pricing, favourable channel mix, and manufacturing efficiencies in our dates business was accompanied by double-digit EBITDA growth at BMB post channel and production optimization in Saudi. In Water and Food, strong growth across the international footprint, as well as cost efficiencies in Saudi and UAE water countered a lower margin mix and commodity inflation in the Agri-business.
  • Group net profit1 increased 6.6% year-on-year to AED 144 million, with the slower rate of growth relative to EBITDA reflecting the higher interest rate environment (interest costs + AED 34 million year-on-year) compared to the prior year.
  • Strong balance sheet: Agthia’s balance sheet remained robust with cash and equivalents of AED 0.6 billion post AED 579 million of debt prepaid in the year to date. The Group’s net debt to EBITDA ratio of 1.9x (net debt of AED 1.2 billion) was down from 2.3x as at December 2022.

Strategic highlights

 Good progress was made throughout the first half in expanding the Group’s capabilities and efficiencies to future proof growth.

  • Leveraging Agthia’s Egyptian platform: Egypt is a strategically important market for Agthia, not only in the favourable, long-term socio-demographics and structural demand for Protein, Snacking and Coffee products, but increasingly as a cost-effective manufacturing hub for key export markets across the GCC and North Africa.

During the half, Agthia strengthened its export focused resource and has already seen encouraging progress, with export revenue +18.2% year-on-year in AED terms, helped by new Food Service volumes in regional markets such as Jordan, Kuwait, and Bahrain, as well as vegetarian and plant-based orders into new international markets. Abu Auf is now selling Al Foah Date Crown and BMB ranges through its domestic channels in Egypt, sourcing Egyptian dates for Al Foah, and is scoping opportunities to increase export of its premium branded coffee, nuts, and healthy snacks.

 Investing in innovation: Innovation is the lifeblood of Agthia and plays a vital role in its strategic vision of being a leading food and beverage company in the MENA region and beyond by 2025, from innovative products that meet the evolving needs of consumers to process innovation that underpins a strong commitment to the planet.

As part of its growing innovation pipeline, Agthia launched the first locally produced 100% rPet water bottle in April, and a new functional water, “Al Ain Plus” in May, fortified with Zinc & Magnesium to meet the growing demand for healthier products and lifestyles. In our snacking portfolio, rollout of new gifting and value-added ranges in dates (for example, chocolate enrobed dates), as well as product and packaging innovation (snack packs, date pouches) have supported strong growth across the category, with BMB recently launching a new travel retail range, initially in Dubai International airport.

Agthia was also awarded the “Quality Standards Award” by the Ministry of Industry and Advanced Technology at the “Make It In The Emirates” Forum, in recognition of its commitment to setting a new benchmark for the industry and providing consumers with consistently secure and reliable food products.

  • Launch of “Agthia Ventures”: Post the period end, Agthia launched “Agthia Ventures”, a Corporate Venture Capital (“CVC”) Fund, designed to expand its innovation capabilities as it continues to drive profitable growth in both new and existing markets.

Funded by Agthia and its parent company ADQ, an Abu Dhabi-based investment and holding company, the fund will be managed together with Touchdown Ventures, a global leader in establishing and operating bespoke CVC programs for blue-chip corporates, with over 100 completed venture investments to date. Investments will focus on opportunities in branded products and emerging food and value chain technologies globally – for example in snacks and beverages, novel ingredients and proteins, innovative packaging solutions, etc.

 Progressed the Group’s sustainability agenda: Agthia made continued progress across the four pillars of its sustainability agenda and, during the half, reduced its water usage ratio and GHG scope 2 emissions by 2.5% and 2.0% respectively, and electricity consumption by 2.1%.

 Accelerating the digital roadmap: Agthia progressed at pace during the half on our 5-year digital transformation roadmap, creating the foundations to transform Agthia into a consumer data-driven organization. The Group is one of the first UAE companies to launch Microsoft co-pilot (ChatGpt engine) in its Water Home Delivery Contact Center, improving its services to and interactions with customers. The Group also finalized a memorandum of understanding and cooperation with Microsoft, which enables it to accelerate its B2B route-to-market digitization, improve operations in retail stores, modernize internal ways of working, and increase employee engagement and productivity. Agthia is growing its Digital & Technology team with new hires and is now harmonizing business processes across our operations in Saudi, Kuwait, and Oman, leveraging SAP and Oracle systems.

Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, commented: “Agthia’s results for the first six months of the year further demonstrate the management’s ability to successfully consolidate value-accretive businesses and leverage synergies while maintaining a profitable core, across all economic cycles. I am confident that Agthia will continue to create value for all stakeholders as it progresses its strategy to become a leading food and beverage company in the MENA region and beyond”.

Alan Smith, Group Chief Executive Officer, commented: “There is much to be proud of over the past six months, from innovative product launches into new, scalable markets and strengthening Agthia’s Board and Leadership Team, to launching a bespoke venture capital fund that will futureproof our research and development capabilities and offer additional avenues for profitable growth. The efficiencies we continue to generate across our portfolio are enabling us to accelerate investment in capacity, sustainability, and digital excellence, while maintaining a robust balance sheet. An economic backdrop characterized by inflationary headwinds and currency volatility has required us to remain disciplined and agile in our execution, and I am grateful for the continued support and dedication of all our colleagues across the Group in achieving this strong first half performance”.

DAE announces Financial Results for the six months ended June 30, 2023

By
Sahfy Sahfy
-

 

Firoz Tarapore, Chief Executive Officer of DAE, stated, “Our first half 2023 results continue to demonstrate the strong demand we are seeing in the market for aircraft from our airline customers. COVID-era deferral programs are being repaid ahead of schedule and secondary market aircraft valuations remain robust. This resulted in revenue growth of 15% compared to the first six months of 2022.

We have continued with our program of active liability management, repurchasing a further US$102 million of principal amount of our bonds during the quarter, bringing the total to US$307 million in the first six months of 2023. We had US$368 million of remaining bond repurchase authorization at the end of the quarter. Our liquidity coverage ratio remains exceptionally strong at 281%, and our available liquidity is US$2.3 billion.

Our profitability metrics continue to trend towards pre-pandemic levels. The resilience of our business model continues to be demonstrated by the strength of our credit quality and funding metrics in the quarter. In addition, during the quarter, Fitch Ratings revised its Outlook on DAE to Positive from Stable.

DAE Engineering continues to increase its global footprint and grow its widebody maintenance offering with expanding relationships in Asia Pacific and the Americas. During the quarter, Joramco announced that Joramco Academy, one of the few training institutions in the Middle East with EASA approval, is extending its training offering with expansion in Ghana through a partnership with locally based Aerojet Aviation.”

Introducing the Predator BiFrost AMD Radeon™ RX 7600: Unleash Your Gaming Potential with Unprecedented Performance

By
Sahfy Sahfy
-

 

Acer is thrilled to announce the launch of the Predator BiFrost AMD Radeon™ RX 7600 graphics card. Designed with DIY and budget gamers in mind, this graphics card delivers exceptional performance, stunning visuals, and outstanding efficiency for an unparalleled gaming and streaming experience.

Unleash the Power of AMD RDNA™ 3 Architecture

The Predator BiFrost AMD Radeon RX 7600 is powered by the cutting-edge AMD RDNA™ 3 architecture, revolutionizing the gaming industry with its advanced technology. Equipped with unified AMD RDNA™ 3 compute units and new AI accelerators, this graphics card sets a new standard for next-generation performance, visuals, and power efficiency.

Efficient Hybrid Cooling for Maximum Performance

Featuring innovative hybrid cooling technology, the Predator BiFrost AMD Radeon RX 7600 combines a ringed axial and blower-style fan. This intelligent cooling solution efficiently dissipates heat from the chassis and away from the GPU, ensuring optimal performance even during intense gaming sessions.

 Enhanced Streaming Quality and Performance

Experience improved visual quality while streaming and recording with the enhanced AMD Radeon™ encoders. The integration of Xilinx AI and content-adaptive machine learning technology in the AMD Media Framework provides crisper text and stunning visuals, elevating your streaming content to new heights.

Ultimate Transcoding Capability

The Predator BiFrost AMD Radeon RX 7600 maximizes video encoding and decoding[[i]] resources by simultaneously utilizing the AMD Ryzen™ processors’ built-in graphics and AMD Radeon™ discrete graphics with AMD SmartAccess Video technology[1]. Enjoy seamless transcoding and efficient processing, enabling you to multitask effortlessly.

Optimize Your Gaming Experience with BiFrost

Take control of your graphics card with the Predator BiFrost Utility APP. Monitor your GPU’s performance and adjust fan speed for optimal cooling. Additionally, customize graphics settings to enhance performance and cater to your specific gaming or creation needs, putting you in command of your gaming experience.

 

Software that Empowers You

The Predator BiFrost Utility APP offers a range of features to enhance your gaming experience. The Home menu allows you to check the current status of your graphics card, select the ideal mode for your needs, and save custom settings for seamless switching. The OSD (On-Screen Display) control panel enables you to enable/disable OSD function, choose real-time system information, and customize display panel settings such as hotkeys, location, colors, and size.

 

Availability

The Predator BiFrost AMD Radeon™ RX 7600 graphics card will be available for purchase in EMEA in July starting at USD 399.

Exact specifications, prices, and availability will vary by region. To learn more about availability, product specifications and prices in specific markets, please contact your nearest Acer office via www.acer.ae.

[[i]] Video codec acceleration (including at least the HEVC (H.265), H.264, VP9, and AV1 codecs) is subject to and not operable without the inclusion/installation of compatible media players.

Airalo, World’s Largest eSIM Marketplace, Raises $60 Million in Series B Financing

By
Sahfy Sahfy
-

August 2nd, 2023 — Airalo, the pioneering eSIM marketplace revolutionizing global connectivity, announced today the successful completion of its Series B financing round, raising an impressive $60 million. Led by e& capital, the investment arm of e&, the global technology group, this brings Airalo’s total funding to $67.3 million. Antler Elevate, Liberty Global, Orange, T.Capital, Rakuten Capital, Singtel Innov8, Telefónica Ventures, Sequoia Capital India and SEA’s (now known as Peak XV Partners) Surge, KPN Ventures, and I2BF Global Ventures were among the prestigious group of investors who also participated. This diverse consortium of investors reflects the industry-wide recognition of Airalo’s transformative work in making global connectivity accessible and affordable for travelers worldwide.

This significant capital injection will propel Airalo’s growth plans, including expanding its vibrant community of millions of users, amplifying its global team, and introducing Airalo Partners—an innovative connectivity solution tailored to businesses and organizations across the globe. By combining cutting-edge technology and a user-centric approach, Airalo continues to empower travelers with seamless access to mobile networks, transforming their journeys into unforgettable experiences.

Co-founders Abraham Burak and Bahadir Ozdemir expressed their gratitude for the company’s progress and the ongoing support of its growing investor network, stating, “Over the past years, Airalo has alleviated the pain points and improved the experience of millions of travelers by providing very affordable and accessible connectivity all around the world. This new consortium of investors will further enable us on our quest to build the gateway to instant connectivity worldwide.”

Since its establishment in 2019, Airalo has remained steadfast in its mission to democratize global connectivity, making it both accessible and affordable for travelers worldwide. The Airalo marketplace, renowned as the world’s largest eSIM platform, empowers users with convenient access to eSIM (digital SIM) packages, allowing them to seamlessly connect to mobile networks in hundreds of destinations across the globe.

With coverage spanning over 200 countries and regions, Airalo’s exceptional services have garnered the trust of millions of users worldwide. The company’s remote-first approach has fostered a diverse and talented team of over 250 professionals hailing from 44 countries and six continents. This dedicated team includes a global partnerships squad, which nurtures strong collaborations with businesses and organizations worldwide. Testament to its global appeal, the Airalo website and app are available in 22 languages, with an expansion plan to offer support in 53 languages in the near future. The Airalo app currently boasts a remarkable rating of 4.7 stars on the App Store and 4.6 stars on the Google Play Store, while being the #1 travel app mobile app stores in multiple countries, further affirming its user satisfaction.

In light of the successful funding round, e& capital shared its enthusiasm for joining forces with Airalo. “We are pleased to lead the Series B financing round for Airalo, a company that has come a long way over the past 18 months with a focus on providing exceptional customer experience. We have complete confidence in Airalo’s ability to expand its user community, strengthen its diverse team, and introduce its latest product Airalo Partners, a groundbreaking connectivity solution for global businesses and organizations. We believe that Airalo has the potential to become a travel essential and are excited to support their journey towards becoming the definitive gateway to instant connectivity worldwide,” said Kushal Shah, Managing Director, e& capital.

Airalo’s remarkable growth trajectory and unwavering commitment to transforming the travel experience have positioned it as a trailblazer and travel essential.

With the infusion of new capital and strategic partnerships, Airalo is poised to accelerate its expansion, ensuring that travelers around the world can stay seamlessly connected, no matter their destination.

Emirates News Agency and Abu Dhabi Chamber sign MoU

By
Sahfy Sahfy
-

 

 

Emirates News Agency (WAM) has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Chamber of Commerce and Industry (ADCCI). The agency is set to become a media partner for the 21st cycle of the Sheikh Khalifa Excellence Award and the Public-Private Partnership Conference. These events seek to highlight the achievements of the business community and private sector in the Emirate of Abu Dhabi, while also promoting the Emirate’s investment landscape and diverse sectors.

The MoU was signed during an official ceremony, which was held in the presence of His Excellency Abdulla Mohamed Al Mazrui, Chairman of the Federation of UAE Chambers of Commerce and Industry and Chairman of the Abu Dhabi Chamber; Mohammed Jalal Al Rayssi, Director-General of the WAM; His Excellency Ahmed Khalifa Al Qubaisi, CEO of Abu Dhabi Chamber, and a number of officials and heads of departments from both sides.

The MoU comes in line with Abu Dhabi Chamber’s efforts to realise the objectives of its 2023-2025 strategy, by leveraging partnerships with local and federal authorities to achieve prosperity throughout the Emirate of Abu Dhabi. The Chamber is committed to meeting the requirements of the private sector, while showcasing Abu Dhabi’s thriving economic and investment environment, which plays a pivotal role in attracting and incubating businesses. Through this MoU, WAM will play a crucial role in disseminating positive messages about the Emirate’s dynamic economic landscape and development journey.

 

His Excellency Abdulla Mohamed Al Mazrui, Chairman of the Federation of the UAE Chambers of Commerce and Industry and Chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), said: “The MoU aligns with the Abu Dhabi Chamber’s strategic objectives, which centre on providing all forms of support to the private sector in the Emirate of Abu Dhabi. The Chamber ensures unleashing the sector’s potential and leveraging investment and economic opportunities to drive economic growth. Through our strategic partnership with WAM, we strive to showcase and promote the integrated economic system through a leading national media platform, which delivers trusted and insightful content about the business community in the emirate.”

 

Mohammed Jalal Al Rayssi, Director-General of the WAM, said: “We are proud of this strategic partnership, focused on showcasing the qualitative achievements of the private sector and the flourishing investment landscape of Abu Dhabi. WAM will cover a number of the most prominent economic events and activities organized by Abu Dhabi Chamber”.

“As part of this MOU, WAM is poised to become a media partner for the Sheikh Khalifa Excellence Award, now in its 21st cycle. This award has earned a prestigious reputation over the years, with its emphasis on high standards, innovation and competitiveness. It has also contributed to strengthening the business environment in Abu Dhabi.” He added.

Al Rayssi pointed out that the agreement also includes media partnership for the Public-Private Partnership Conference, which provides an opportunity to highlight the thriving economic model in the UAE and the prospects for cooperation between various sectors, in a way that enhances the country’s growth in various vital sectors.

Al Rayssi further emphasized that the various partnerships forged by WAM with various institutions serve as an effective means to bolster reliable economic content. Thus, they play a pivotal role in keeping pace with the most important economic events, underlying the media’s influence as a driving force for economic growth and development. These collaborations enable WAM to highlight pioneering economic experiences and available investment opportunities.

Al Rayssi affirmed WAM’s commitment to providing accurate and comprehensive coverage that reflects the economic success of the UAE and supports the advancement of the private sector, allowing it to continue to play a central role as a key engine of economic development.

His Excellency Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, said: “For decades, WAM has been publishing reliable media messages, which reflect the UAE’s journey of development across a range of fields. This agreement contributes to highlighting the development of the private sector in Abu Dhabi and the UAE, and showcasing the Abu Dhabi Chamber’s initiatives and projects, which demonstrates the Chamber’s support for the business community and cements its position as the voice of the private sector.”

“Our cooperation with leading media agencies and other partners in the public and private sectors plays a key role in enhancing media coverage of the latest news and updates on business, investment opportunities, and economic developments in the Emirate of Abu Dhabi and the UAE. This contributes to propelling sustainable economic development and realising our new strategic vision,” His Excellency added.

The signing of the MoU aligns with the Abu Dhabi Chamber’s new strategy for the next three years spanning 2023 to 2025, which centres on consolidating the Chamber’s position as the voice of the private sector. It also emphasises the Chamber’s standing as a trusted partner for both the public and private sectors, by fulfilling the needs of the private sector to drive the Emirate of Abu Dhabi’s economic growth.

1...565758...60Page 57 of 60

EVEN MORE NEWS

POPULAR CATEGORY

©