Author: Jochebed Menon

Sanad, a subsidiary of Mubadala Investment Company, announced the launch of a new strategy to expand business beyond the aerospace sector. The company has also appointed Mansoor Janahi, currently Deputy Group CEO of Sanad, as the new Group CEO to lead the growth stage under the new strategy. The strategy and leadership announcements follow the launch of ‘Operation 300bn’ last year, which aims to more than double the industrial sector contribution to GDP in the UAE to Dhs300 billion by 2031. Under its new industrial services strategy, Sanad will contribute to the economic diversification agenda and help position the UAE…

Majid Al Futtaim Communities in partnership with Emirates Post have launched a simplified click and sign solution for off-plan Sale and Purchase Agreements (SPA). Using a digital signature authenticated by UAE PASS, the digital national identity for citizens and residents of the UAE, Majid Al Futtaim Communities will enable customers to sign documents and transactions digitally with ID verification. Marking a new milestone in the digital transformation of the UAE property sector, the initiative is designed to significantly enhance the customer experience across Majid Al Futtaim Communities’ landmark destinations in the UAE. Upon agreement to purchase a property, buyers will…

Noida-headquartered FarEye, a global SaaS platform provider transforming last-mile logistics, has announced liquidation for Employee Stock Ownership Plan (ESOP) holders worth USD1.22 million via buyback. Aimed at rewarding and recognising employees’ dedication and hard work in driving FarEye’s growth over the last year, this is the company’s second buyback and largest to date. FarEye will be performing this buyback of vested ESOPs using its cash reserves, a move that signals the confidence the management and investors share in the business, and the important role of employees in the success of FarEye. In 2021 FarEye launched a revised ESOP aimed at…

Abu Dhabi Maritime, the authority on all of Abu Dhabi’s waterways and marine ecosystems, has assumed responsibility for all ferry services operating within Abu Dhabi’s waterways. Operating under the AD Ports Group, with guidance from the Department of Municipalities and Transport (DMT), the organisation is integrating the Ferry Operations Branch of the Integrated Transport Centre (ITC) under the scope of its services. The move will see Abu Dhabi Maritime manage and oversee the daily operation of the Emirate’s two major ferry lines — the Dalma Island Water Transport Service, which connects Dalma Island and Jebel Dhanna Port, and the Al…

Despite the continued decline in China, Volvo Construction Equipment (Volvo CE) sustained its solid growth with high infrastructure investment particularly across Europe, North America and South America, and increased revenue from services. The current drop in China is due to a saturated market for excavators following last year’s high sales levels and the overall slowdown in construction and infrastructure investments across the region. In the fourth quarter of 2021, net sales increased by 5% to Swedish Krona (SEK) 21,812 million. Adjusted for currency movements net sales increased by 2%, of which net sales of machines were flat and service sales…

Dubai CommerCity, the first eCommerce free zone in the region, is showcasing its offerings for the healthcare and pharmaceutical industry. The free zone provides a wide range of packages, services, and warehouses tailored to suit the requirements of healthcare and pharmaceutical companies, enabling them to enter the e-commerce market and grow their business. Dubai CommerCity supports healthcare organisations to set up their eCommerce business seamlessly, through providing complete business setup, customs support, and tailored consultation services. It also provides special eCommerce licenses, smart-cost structures, and significantly pre-negotiated partnerships to ensure the highest level of quality and services for e-commerce businesses…

UD Trucks announced sales growth in the MEENA (Middle East, East and North Africa) region of approximately 30% in 2021, continuing an upwards trend for the brand, which had experienced 6% growth in the previous year. The Japanese commercial vehicle manufacturer recorded an increase in sales in most markets, including Saudi Arabia, the UAE, Qatar, Pakistan and a number of countries in East Africa.  UD Trucks’ flagship market, Bahrain, saw an increase of around 40%, reinforcing the brand’s number one status in the country. The trucks brand also saw an increase in sales by about 30% in Qatar. Sales also…

Global supply chain solutions company CHEP has been certified as a Top Employer in Saudi Arabia by the Top Employers Institute (TEI). TEI is a global certifier recognising excellence in employee practices. Being certified as a Top Employer showcases an organisation’s dedication to a better world of work through excellent HR policies and people practices.   Human Resources Business Partner for CHEP India, Middle East, Turkey and Africa, Lakshmi Parasuram, says “We are immensely proud to have achieved this recognition again from Top Employer. It has been our mission to make CHEP an amazing place to work for our employees, ensuring their overall well-being, diversity and development.”  Megeshni Archary,…

FedEx Express, a subsidiary of FedEx Corp., announced the launch of DoraSorter – an AI-powered intelligent sorting robot – in collaboration with Dorabot, a robotics solution provider for logistics. The sorting robot represents the company’s latest push in digitising its operations and building a smart logistics network to handle the ever-growing volumes of eCommerce-related shipments in the region. The first of its kind in China for FedEx, the DoraSorter robot is being deployed at the 5,200m2 FedEx South China eCommerce Shipment Sorting Center in Guangzhou. DoraSorter is already part of the daily sorting operations and is capable of handling small…

Deliverect, a global firm that simplifies online ordering for more than 20,000 locations across 40 markets, announced that it secured more than USD150 million in Series D funding. The funding, which is led by Coatue and Alkeon Capital as well as existing investors OMERS Ventures, DST Global, Redpoint Ventures, Newion and Smartfin, brings Deliverect to USD240 million raised to date. This round marks the company’s valuation at over USD1.4 billion. With this latest round of funding, Deliverect is investing in engineering and technology advancements, expanding its product portfolio, and scaling to serve hundreds of thousands of establishments, which now includes…