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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Funding and Investment News<br />
Saudi startup Nana raises<br />
$133M to support its<br />
expansion<br />
Saudi start-up Nana has raised a<br />
staggering $133M in funding to<br />
fuel its growth and revolutionize<br />
the shopping experience. Nana<br />
is an online grocery delivery platform<br />
that offers a hassle-free and convenient<br />
shopping experience to customers.<br />
<strong>The</strong> platform has gained immense<br />
popularity in the Kingdom of Saudi<br />
Arabia, and the latest funding round<br />
will help Nana expand its reach to<br />
more cities and offer a wider range of<br />
products. Nana’s innovative technology<br />
and exceptional customer service have<br />
set it apart from its competitors, and<br />
the company’s aim is to make grocery<br />
shopping effortless for everyone. With<br />
this significant funding, Nana is well<br />
on its way to achieving its goal and<br />
becoming the leading name in online<br />
grocery shopping in the region.<br />
UAE Aims to Streamline<br />
Business Operations and<br />
Attract Foreign Investment<br />
<strong>The</strong> United Arab Emirates<br />
(UAE) has announced plans<br />
to further ease doing business<br />
in the country, with the goal<br />
of attracting increased foreign direct<br />
investment (FDI). <strong>The</strong> measures, which<br />
include simplifying procedures for<br />
companies to set up operations and<br />
reducing red tape, are part of the<br />
UAE’s efforts to position itself as a<br />
hub for international businesses. <strong>The</strong><br />
country has already made significant<br />
progress in recent years, rising in international<br />
rankings for ease of doing<br />
business. UAE aims to further cement<br />
its reputation as a business-friendly<br />
destination, attracting companies<br />
from a wide range of industries and<br />
boosting economic growth. <strong>The</strong> move<br />
is expected to have a positive impact<br />
on the country’s economy and create<br />
new job opportunities for its citizens.<br />
Sharjah Asset Management Takes Center Stage<br />
at Investment Forum with Key Project Showcase<br />
<strong>The</strong> Sharjah Investment Forum<br />
was buzzing with excitement<br />
as Sharjah Asset Management<br />
took center stage to showcase<br />
its key investment projects. <strong>The</strong><br />
company, which is a subsidiary of the<br />
Sharjah Investment and Development<br />
Authority (Shurooq), was proud to<br />
highlight its portfolio of investments<br />
in a variety of sectors, including real<br />
estate, hospitality, and tourism. <strong>The</strong><br />
MENA Start-Up Floward<br />
Blooms with $156M in<br />
Pre-IPO Funding Round<br />
Floward, a Middle Eastern<br />
start-up that offers online<br />
flower and gift delivery services,<br />
has raised $156M in a<br />
pre-IPO funding round. <strong>The</strong> company’s<br />
platform allows customers to place<br />
orders for flower arrangements and<br />
gifts, which are then hand-delivered<br />
by local florists. Floward has seen<br />
tremendous growth since its launch,<br />
with a rapidly expanding customer<br />
base and presence in multiple countries<br />
across the Middle East and North Africa<br />
(MENA) region. <strong>The</strong> new funding will<br />
be used to further scale the business,<br />
enhance its technology platform, and<br />
support its expansion into new markets.<br />
Floward is poised to become the go-to<br />
destination for all gift-giving occasions<br />
in the MENA region.<br />
investment projects on display demonstrated<br />
the company’s commitment to<br />
driving economic growth and promoting<br />
sustainable development in the emirate<br />
of Sharjah. This showcase was a<br />
crucial step in the continued growth<br />
and development of Sharjah’s economy,<br />
and a testament to the impact that<br />
Sharjah Asset Management is having<br />
in the region.<br />
APICORP Invests<br />
$335M in in the Future<br />
with Green Project<br />
Allocation<br />
<strong>The</strong> Arab Petroleum Investments<br />
Corporation (APICORP) has<br />
announced the allocation of<br />
$335M towards green projects,<br />
in an effort to support the transition<br />
to a low-carbon economy. <strong>The</strong><br />
investment will be directed towards<br />
renewable energy, energy efficiency,<br />
and sustainable infrastructure projects<br />
across the Middle East and North Africa<br />
(MENA) region. This move aligns with<br />
APICORP’s commitment to promoting<br />
sustainable development and reducing<br />
the carbon footprint of the energy sector.<br />
<strong>The</strong> allocation of funds is expected<br />
to drive the growth of the region’s<br />
green energy market and contribute<br />
to the global effort to tackle climate<br />
change. <strong>The</strong> investment is a significant<br />
step towards a greener future for the<br />
MENA region and a demonstration of<br />
APICORP’s leadership in promoting<br />
sustainable development.<br />
76 www.thefinanceworld.com <strong>March</strong> <strong>2023</strong>
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