The Finance World Magazine| Edition: March 2023
The March edition of The Finance World Magazine (TFW) delves into the Zayed Ambition 2 project, which strives to investigate the feasibility of leveraging the UAE's burgeoning space economy for sustainable development. This initiative showcases the country's commitment to diversifying its economy and reducing its reliance on oil. In a featured interview, CEO Shaaista Khan Osman and Managing Director Osman Osman of Blu Blood share their insights about the event management industry in the UAE. This issue also includes insights from Sridhar Vembu, CEO of Zoho Corporation, on emerging AI tools, along with some advice for SMEs and startups. Through this edition, we also bring you insights on topics like the UAE's steadfast dedication to sustainable growth and development, Dubai surpassing global and regional tourism recovery levels, the sports industry emerging as a promising sector magnetizing international investors, and many more key informational articles in the finance sector. Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
The March edition of The Finance World Magazine (TFW) delves into the Zayed Ambition 2 project, which strives to investigate the feasibility of leveraging the UAE's burgeoning space economy for sustainable development. This initiative showcases the country's commitment to diversifying its economy and reducing its reliance on oil.
In a featured interview, CEO Shaaista Khan Osman and Managing Director Osman Osman of Blu Blood share their insights about the event management industry in the UAE. This issue also includes insights from Sridhar Vembu, CEO of Zoho Corporation, on emerging AI tools, along with some advice for SMEs and startups.
Through this edition, we also bring you insights on topics like the UAE's steadfast dedication to sustainable growth and development, Dubai surpassing global and regional tourism recovery levels, the sports industry emerging as a promising sector magnetizing international investors, and many more key informational articles in the finance sector.
Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
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UAE Boosts Its Economy with Operation 300bn and In-Country Value Program<br />
<strong>The</strong> United Arab Emirates has<br />
made significant strides in<br />
strengthening its economy<br />
through its Operation 300bn<br />
and In-Country Value (ICV) program.<br />
Operation 300bn aims to increase the<br />
country’s non-oil sector contribution<br />
to its GDP from the current 60% to<br />
70% by 2030. <strong>The</strong> ICV program, on the<br />
other hand, is designed to promote<br />
local content and develop the country’s<br />
Géant Expands Express<br />
Concept for Convenient<br />
Shopping Experience<br />
Géant, one of the largest<br />
hypermarket chains in<br />
the UAE, is expanding its<br />
Express Concept store<br />
to offer consumers an even more<br />
convenient shopping experience.<br />
<strong>The</strong> new Express Concept stores will<br />
offer a carefully curated selection of<br />
products, including fresh produce,<br />
dairy, and bakery items, as well as<br />
household essentials, all at competitive<br />
prices. Customers can expect a fast and<br />
efficient shopping experience, with a<br />
streamlined checkout process and easyto-navigate<br />
store layout. <strong>The</strong> expansion<br />
of the Express Concept stores is part<br />
of Géant’s commitment to meeting the<br />
needs of its customers and providing<br />
a convenient and accessible shopping<br />
experience. Géant is solidifying its<br />
position as a leader in the retail industry<br />
in the UAE and beyond.<br />
industrial sector by boosting local<br />
production and creating new job<br />
opportunities. <strong>The</strong>se initiatives have<br />
already shown promising results, with<br />
the country’s industries receiving a<br />
major boost and the economy growing<br />
at an unprecedented pace. <strong>The</strong> right<br />
mix of investment, infrastructure, and<br />
policy support, the UAE is well on its<br />
way to becoming a global economic<br />
powerhouse.<br />
Carrefour Launches Revolutionary Facial Recognition<br />
Payment Technology in UAE<br />
Carrefour, the leading retail in<br />
the UAE, has taken a giant<br />
leap in the world of payment<br />
technology by introducing a<br />
ground-breaking facial recognition<br />
system. Shoppers can now make<br />
purchases simply by looking at the<br />
camera and having their face scanned,<br />
eliminating the need for cash, credit<br />
cards, or even smartphones. <strong>The</strong><br />
technology uses advanced algorithms<br />
to securely verify the shopper’s identity<br />
and process the payment in real-time.<br />
Not only is this new system incredibly<br />
convenient, but it also offers an added<br />
layer of security as it eliminates the<br />
risk of fraud and theft associated<br />
with traditional payment methods.<br />
<strong>The</strong> launch of this technology marks<br />
a major milestone for Carrefour and<br />
sets a new standard for the future of<br />
retail payment systems.<br />
Al Salam Bank Reaches New Heights with 48%<br />
Net Profit Increase in 2022<br />
Al Salam Bank, based<br />
in Bahrain, has seen a<br />
significant boost in its<br />
net profit, reaching a 48%<br />
increase in 2022. <strong>The</strong> bank attributed<br />
this success to its strong performance<br />
in retail banking, treasury, and<br />
investment operations. Additionally,<br />
the bank’s efforts to improve<br />
operational efficiency and control costs<br />
have also played a crucial role in this<br />
growth. With a strong balance sheet<br />
and robust capital position, Al Salam<br />
Bank is well-positioned to continue<br />
serving its customers and supporting<br />
the development of Bahrain’s economy.<br />
<strong>The</strong> bank remains committed to<br />
providing a wide range of financial<br />
services and innovative solutions to<br />
meet the evolving needs of its clients.<br />
This impressive performance is a<br />
testament to the bank’s dedication to<br />
excellence and its ability to navigate<br />
challenging market conditions.<br />
<strong>March</strong> <strong>2023</strong> www.thefinanceworld.com 119