Category: Business

  • Insurance Professionals Report an Average 17% Rise in Luxury Watch Claims, According to New Research

    10th June 2026 — The Watch Register, the world’s largest and most established international database of lost and stolen luxury watches, reports new research2  that highlights a significant increase in insurance claims relating to the loss and theft of high-value watches.

    The study, conducted amongst 100 insurance loss adjustors and claims managers across the United States, Europe, Asia and the Middle East, reveals that luxury watch-related claims have risen markedly in recent years.  When asked how claims volumes have changed compared to three years ago, two-thirds (67%) of respondents reported an increase of between 10% and 25%, while a further 9% cited even sharper rises of between 25% and 50%.  Overall, insurers reported a mean average increase of 17% in luxury watch claims over the period.  Insurance respondents in Asia reported the highest mean average increase in claim volumes (21%) compared with an average of 15% in the US.

    The findings suggest that the volume of watch-related claims will continue to increase.   More than half (54%) of respondents anticipate claims will rise by a further 10% to 25% over the next three years, while nearly one third (32%) expect increases of between 25% and 50%.  A smaller proportion (2%) predict even more significant growth of up to 75%.  The mean average anticipated increase stands at 24%, underlining the expectation that luxury watch theft will remain a persistent and growing challenge for insurers globally.

    Additionally, given the high circulation of stolen goods on the market, three in four (77%) of insurance respondents report seeing an increase in defective title claims from jewellers’ block policy holders who have unwittingly purchased stolen watches. The majority (83%) of insurers say they are now taking steps to mitigate risk by only paying out defective title claims for watches on the condition that the policy holder has carried out due diligence prior to the transaction by checking a stolen watch database.

    Katya Hills, Managing Director of The Watch Register, said: “Insurance professionals  report a clear rise in luxury watch-related claims, which reflects the high incidence of theft affecting watch owners and jewellers today. Watches are expensive, portable, easy to steal, and highly liquid. The exceptional resale value of watches and high demand for the most desirable models on the secondary market are continuous drivers of theft.  

    “It is more imperative than ever that insurers record the serial numbers for lost and stolen watch claims and report these losses to The Watch Register database to facilitate future detection. The database proactively searches the global pre-owned watch market, maximising the chances of recovery for insurers and their policy holders, and enabling insurers to recoup funds paid out on claims.”

    In 2025 The Watch Register reached a landmark 5,000 lost and stolen watches identified since the service was founded more than a decade ago.  In the past year alone, stolen watches identified by The Watch Register have been traced across 34 countries spanning North and South America, Europe, Asia, North Africa, Australia and the Middle East, underlining both the global scale of the problem and the reach of the platform.

  • AU Small Finance Bank Increases Deposit Rates; Offers Up to 7.90 Percent for Senior Citizens

    June 10, New Delhi: AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first institution in over a decade to receive in-principle approval from the Reserve Bank of India to transition into a Universal Bank, has revised its deposit interest rates across Fixed Deposits (FDs), Recurring Deposits (RDs), and Foreign Currency Non-Resident [FCNR (B)] deposits, effective June 10, 2026.

    Under the revised structure, customers can now earn up to 7.40% p.a. on FDs and RDs, while senior citizens can earn up to 7.90% p.a., making AU SFB’s offering among the more competitive and attractive savings avenues in the current rate cycle.

    The revision comes at a time when savers across India are increasingly looking for stable, high-yield deposit options, while NRIs continue to seek secure and efficient avenues to manage savings across geographies.

    The revised peak interest rates are as follows:

    Product

    Current Peak Rate

    Revised Peak Rate

    FD (Normal)

    7.25%

    7.40%

    FD (Senior Citizen)

    7.75%

    7.90%

    RD (Normal)

    7.25%

    7.40%

    RD (Senior Citizen)

    7.75%

    7.90%

    FCNR

    5.15%

    7.10%

    In parallel, the Bank has also enhanced its FCNR deposit rates, further strengthening its NRI banking proposition by offering attractive foreign currency deposit options alongside competitive domestic deposit rates. Together, the revised rates position AU SFB as a comprehensive savings partner catering to both resident Indians seeking higher returns and NRIs looking for efficient cross-border savings solutions.

    The revised rates are applicable to both new and existing customers and are available across

    AU SFB’s 2,790+ touchpoints spanning 21 States and 4 Union Territories, as well as through its digital channels including the AU 0101 app, WhatsApp Banking, and 24×7 video banking.

  • ECLAT Health Solutions Completes Management Buyout from Gulf Capital, Opening Next Chapter of Growth

    India, June 10: ECLAT Health Solutions, a leading revenue cycle management (RCM), risk adjustment and healthcare technology partner, today announced the completion of a Management Buyout (MBO) from Gulf Capital, one of the largest and most active private equity firms investing from the GCC to Asia. The transaction marks the close of a highly successful partnership and returns full ownership of ECLAT to its founders and management team.
     
    Over the course of ECLAT’s partnership with Gulf Capital, the organizations worked closely to accelerate growth and build a differentiated healthcare services platform defined by scale, breadth, technology and long-term value. With Gulf CapitalECLAT expanded its revenue cycle management service offerings and added payer-centric risk adjustment and technology solutions. This diversification, alongside continued expansion and market adoption of its leading RCM services, enabled ECLAT to grow its workforce from 450 to more than 4,000 employees across the United States, India and the Philippines, and achieve a tenfold increase in both revenue and EBITDA—representing a 75% EBITDA compound annual growth rate over five years.
     
    “When we partnered with Gulf Capital in 2020, we had a clear vision for what ECLAT could become—and together we executed against that vision with focus, discipline and ambition,” said Karthik Polsani, founder and group CEO, ECLAT Health Solutions. “Gulf Capital was a true strategic partner throughout the journey, supporting us in strengthening our leadership team, expanding our capabilities and scaling the business to new levels of performance. This partnership helped transform ECLAT into a stronger, more resilient organization with a clear platform for long-term growth. As the founders and management team resume full ownership, we do so with pride in what we have built together and with great excitement for the next chapter of ECLAT’s evolution.”
     
    Central to ECLAT’s growth is evaire, its proprietary AI and analytics platform. Powered by agentic AI and deep payer expertise, evaire enables end-to-end chart retrieval and review, risk adjustment coding, Confidence Scoring, payer analytics and more. ECLAT’s payer expansion and technology offerings—together with its core RCM services and highly qualified clinical coding teams—position the company for its next phase of growth and innovation in a rapidly shifting healthcare landscape.
     
    “Over the past several years, we have significantly professionalized and scaled the organization—building robust operational processes, investing in talent and enhancing our service offering to better serve our clients,” said Sneha Polsani, Founder and COO, ECLAT Health Solutions. “Working alongside Gulf Capital accelerated this journey and positioned ECLAT for sustainable, long-term growth. As we move forward, we are exceptionally well positioned to continue executing on our strategy, deepen our provider and payor partnerships, pursue selective strategic opportunities and deliver consistent value to our partners and stakeholders.”
     
    “Our next chapter is about building on this momentum,” said Gabe Stein, CEO, ECLAT Health Solutions. “ECLAT has the scale, client trust, technology platform and operating depth to continue growing organically while also pursuing strategic opportunities that expand our capabilities and strengthen the value we deliver to healthcare organizations.”
     
    ECLAT’s MBO represents one of the most successful realizations in Gulf Capital’s history and highlights its ability to build market-leading platforms through active ownership and deep operational value creation. The transaction also reflects ECLAT’s proven ability to scale, professionalize operations and create significant value for long-term partners.
     
    “This investment exemplifies Gulf Capital’s approach to partnering with exceptional founders and management teams and supporting them in building differentiated, high-quality platforms,” said Mohammad Madani, Managing Director, Gulf Capital. “Together with ECLAT’s leadership team, we scaled ECLAT into a diversified and technology-enabled RCM and risk adjustment business serving clients across the U.S., making it one of the standout successes of our Fund III portfolio. This investment highlights Gulf Capital’s proven Control Growth Buyout model, where we acquire majority stakes in leading businesses and accelerate their growth and profitability before executing successful exits. We are proud of what has been accomplished in this investment and are confident in ECLAT’s continued momentum under its founders’ and management team’s leadership.”
     
    ECLAT’s evolution reflects a partnership built on conviction, constant momentum and a shared determination to build something exceptional through relentless execution,” said Fouad Daher, Executive Director at Gulf Capital. “Together with Karthik, Gabe, Sneha and the broader leadership team, we expanded the platform meaningfully across services, geographies, technology and talent, creating a business of real scale, resilience and strategic depth. The quality and resilience of the platform today reflect the depth of what was built together, and with the foundations now firmly in place, we believe the most exciting chapter for ECLAT is still to come.”
  • Leadership ‘Behavioural Gap’ Stalling Global AI Adoption, Major Study Finds

    June 10: A significant disconnect between executive ambition and organisational reality is stalling the integration of artificial intelligence across the world’s leading companies.  This is according to a new study by leadership consultancy The Positive Group –  conducted in collaboration with researchers from Harvard Business School, RSGI, and Hubel Labs – which states the primary obstacle to a successful AI strategy is not the limitations of technology, but a deficit in critical leadership behaviours at board and C-suite levels.

    The report AI Success: The Leadership Factor,  is based on an in-depth qualitative study of 35 senior leaders from global giants including HSFKramer, ServiceNow, McDonald’s and Grant Thornton, spanning professional services, financial services, consumer brands, tech, and life sciences. The findings reveal a stark “AI Ambition-Maturity Gap”: while 86% of leaders interviewed aim for advanced AI maturity within the next 12–24 months, only 28% have successfully embedded AI into core workflows to deliver measurable value at scale.

    The research identified three specific day-to-day areas to address.

    1.The Role Model Gap 
    Only 33% of executives who took part in the study see their leaders demonstrate adaptability, highlighting a huge disconnect between “talking” and “doing.”  Leaders need to move beyond theory and actively use AI tools in their daily workflows. Showing vulnerability by experimenting and failing in front of the team builds the psychological safety needed for others to innovate.

    2.The Communication Gap
    While 65% of the study respondents believe their leadership team can tell a motivating story for AI use, only 45% said they keep their teams regularly informed about actual AI developments. Leaders need to close the 20-point gap between general motivation and consistent, practical updates.

    3.The Training Disconnect
    Just 62% of the study respondent believe their leaders encourage employees to take ownership of AI innovation.  The fact this number is not higher could be linked to inadequate AI training programmes. Only six out of ten (59%) of those who took part in the study said their organisations have structured AI training in place for all, 28% said it was for senior leaders or specific teams only; 10% said training was managed on a case-by-case basis, and 4% said training was not prioritised at all.

    The Human Barrier to Technical Progress
    The study suggests that the technical AI hurdle is being cleared far more quickly than the human one. The study identifies four recurring behavioural barriers that are currently outpacing traditional corporate planning cycles:

    1.Continuous Disruption: AI capabilities evolve so rapidly that they render standard strategic cycles obsolete, leading to executive fatigue and short-termism.
    2.Fragmented Expectations: A lack of shared meaning regarding AI’s purpose leads to a proliferation of “hype-driven” pilots without consistent criteria for success.
    3.Emotional Polarisation: AI unsettles established expertise hierarchies, creating a divide between enthusiasm and deep-seated anxiety regarding professional identity and relevance.
    4.The Innovation-Risk Tension: In regulated environments, the absence of clear leadership on trade-offs leads to either paralysing caution or unstructured, risky experimentation.

    The Data on Leadership Influence
    The study provides a rare quantitative link between leadership culture and technical maturity. Leaders in “high-maturity” organizations – those successfully scaling AI -rated their management teams significantly higher across three key behavioural metrics compared to those in the pilot stages.  They reported:

    40% higher adaptability-related behaviours
    30% higher clarity-related behaviours
    25% higher trust-related behaviours 

    Will Marien, CEO of The Positive Group, emphasizes that the “Next Chapter” of the AI revolution will be written by people, not code. 

    “Over the past few years, organisations have explored artificial intelligence through pilots and experimentation. Today, we are moving beyond exploration to the pressing challenge of maximising value from these technologies,” says Marien. “That shift raises the question: what does effective leadership look like in the AI era? Real value emerges when AI is paired with judgement, meaning and shared understanding. It is leadership that will determine how powerfully that partnership performs.”

    A New Framework for the C-Suite
    The report argues that the most successful organisations are moving away from treating AI as a “tech project” and are instead adopting three specific leadership modes:

    Sensemaking and storytelling: The ability to translate complex AI concepts into plain language and define what “good” looks like for the specific business context “Storytelling and simplicity are powerful drivers of adoption. 

    “We need to explain AI in plain language, simple enough that even my six-year-old could understand it, because accessibility builds curiosity and trust.” – Tarv Nijjar, Global Head of Product & Platform Transformation, McDonalds, who took part in Positive Group’s study.  

    Mediation and trust: Building trust by making uncertainty visible and acknowledging the legitimate emotional responses of a workforce facing disrupted roles. 

    Perry Burton, Head of Partner Learning and Development, Grant Thornton UK, who took part in the study, said: “In partnerships, you can’t simply tell people what to do. Change has to come through influence and example. That’s challenging when people are moving fast, feel pressure to deliver, and are understandably anxious about how their roles might evolve.”

     Adaptive Execution: Reframing experimentation as structured learning, where leaders model the use of tools themselves and provide explicit permission to “stop” initiatives that do not align with strategy. 

    “Successful AI leadership requires both strategy and courage. There’s enormous pressure to chase every trend, but the real discipline lies in holding to a clear strategy and resisting the temptation to be reactive.” – Isabel Parker, White & Case, Chief Innovation Officer, who took part in the study. 

    As global markets face a fast-moving regulatory environment and shifting expertise hierarchies, The Positive Group’s research suggests that the highest-leverage move an executive team can make is not increasing their R&D budget, but strengthening the behavioural capabilities of their leaders.

    “The gap is not primarily technical, but behavioural,” the report concludes.

    Marien adds: “Strengthening these capabilities may be the highest-leverage move organisations can make as AI reshapes how work is done.” 

  • Eros Innovation Licenses Cultural Dataset to UK Operation 265 Million Committed to British Film Production

    At London Tech Week today, Eros Brahmand unveiled an exclusive first look at a mythic cinematic universe, six beloved Indian film continuations and one remaster, anchored by a £265 million commitment to the United Kingdom and two productions confirmed to shoot in Britain in 2026.

    Eros Innovation Licenses Cultural Dataset to UK Operation; £265 Million Committed to British Film Production

    At London Tech Week today, Eros Innovation announces three creative programmes, fifteen productions, and a £265 million commitment to the United Kingdom. Alongside this, Eros licenses its USD 1.7 billion cultural dataset independently valued by OxValue.AI in association with the University of Oxford, to its UK operation, establishing a sovereign-grade cultural artificial intelligence capability in Britain. This is one of the most ambitious cultural AI announcements ever made, and it begins in London.
     
    Eros Brahmand, showcasing a cinematic universe rooted in ancient Indian mythology, reimagined at franchise scale for global audiences, brought to life by a global collective of talent from India, the United Kingdom, Hollywood, Europe and Asia, and anchored within Britain’s renowned infrastructure. Eros Universe  six of the most beloved Indian film worlds continuing, each expanding into full franchise ecosystems spanning film, microdrama, animation and character-led content. Eros Remastered; iconic Indian cinema, reimagined through Cultural Intelligence. Together: fifteen productions, a sneak preview of the Brahmand universe, and one announcement.
     
    The Eros Brahmand trailer receives its world premiere at London Tech Week today, offering a sneak preview of the universe. Two productions from the group are confirmed to shoot in Britain in 2026: Nandi  War of Kailasa, and Tanu Weds Manu The Next Chapter, directed by Mitakshara Kumar (Heeramandi, The Empire) and co-produced with Rudrak Soma Jyoti Limited, with an exciting new cast.

    PART ONE — EROS BRAHMAND: A CINEMATIC UNIVERSE

    The first cinematic universe built on Indian mythology at global scale, rooted in the deepest seam of ancient Indian mythological tradition, reimagined at franchise scale. Each world carries its own mythology, character universe, visual language and narrative architecture. Each developed through a dedicated UK Film Production Company. Brought to life by a global collective of talent from India, the United Kingdom, Hollywood, Europe and Asia.
    1. Nandi – War of Kailasa, Shoots in Britain 2026
    2. Dwaarka: Gateway to the Universe
    3. Vimaan Wars
    4. Mahabharat 5000 A.D
    5. Yakshinis
    6. Brahmarakshak
    7. Garuda
    8. Kumbhayanna
    9. Mansa Devi

    PART TWO — EROS UNIVERSE: SIX CONTINUING WORLDS

    These are not remakes, they are the next chapters of stories that have never left the hearts of the people who love them. Each becomes a full franchise world: film, microdrama series, originals, animation and character-led content, powered by Cultural Intelligence, produced in the UK.
    1. Tanu Weds Manu – The Next Chapter, Directed by Mitakshara Kumar (Heeramandi, The Empire). Co-produced by Eros Universe and Rudrak Soma Jyoti Limited.
    2. Phobia
    3. English Vinglish
    4. Desi Boyz
    5. Rangeela
    6. Tere Naam
     
    PART THREE — EROS REMASTERED

    Kochadaiyan — Remastered.
    Starring Rajinikanth. Directed by Soundarya Rajinikanth. India’s most beloved superstar has entrusted his catalogue to the Eros Large Cultural Models, and his daughter, one of the leading voices in contemporary Indian cinema, is leading the creative reimagining. The first Indian motion capture film, originally produced by Eros, is brought back to life through Cultural Intelligence for a new generation of audiences.

    THE UK INVESTMEN  £265 MILLION OVER FIVE YEARS

    The £265 million commitment establishes London and the United Kingdom as the production, technology and creative home of all three Eros creative programmes. Every production is developed through a dedicated UK Film Production Company. The commitment covers: AI music studios in London; dedicated microdrama production; London-based animation; UK-based LCM training and R&D, with British academic partnerships currently in development.

    Eros Innovation has additionally licensed its USD 1.7 billion cultural dataset, independently valued by OxValue.AI in association with the University of Oxford, to its UK operation, establishing a sovereign-grade Cultural AI capability in Britain, aligned with India’s broader sovereign AI ambitions. The LCM family was first unveiled at the India AI Impact Summit, New Delhi, February 2026. The voice layer, Eros LCVM, launched on 5 June 2026, released by Shri S. Krishnan, Secretary, MeitY, Government of India.
     
    The programme directs inward investment, employment and research activity into the United Kingdom’s creative and technology sectors. It supports the development of cultural AI, an emerging field, within British institutions, and aligns Eros’s long-term creative production with UK talent, facilities and academic research.

    AI investment in Britain has typically taken the form of offices, research labs or compute allocation. This commitment is structural. The dataset is being licensed to and operating from the UK; the Eros AI Studio that runs on it is being built in the UK; the law that governs it is British. The result is data sovereignty, regulatory sovereignty, and an AI-native production capability anchored in Britain.

    For a decade the British creative sector has faced a structural question, who owns the means of production when the platforms sit overseas. This commitment is one answer: indigenous creative capacity, rights cleared at source, made and owned through UK production companies, with the value captured here rather than exported.
     
    LOOKING FORWARD — A GLOBAL CULTURAL EXCHANGE

    Looking beyond the immediate programme, Eros is exploring a Global Cultural Exchange framework enabling trusted interoperability between creators, institutions, archives and cultural ecosystems, preserving data sovereignty, rights protection and local governance. London is intended to play a central role.

    “India is a vital partner for the UK and we have huge ambition to unlock more opportunities together across key industries like AI, tech and the creative sector. This commitment by Eros Innovation is proof that we can aim higher, and go further, when we work together. It’s a vote of confidence in Britain’s creatives and our tech sector.”

     Kanishka Narayan MP, Parliamentary Under-Secretary of State, Department for Science, Innovation and Technology

    “What we are bringing to Britain is not an office, and it is not an investment. It is a sovereign-grade cultural artificial intelligence capability — one of the world’s largest rights-cleared cultural datasets, the AI Studio that will operate on it, and a long-term partnership with British data, British talent and British institutions to build what comes next together. Cultural AI will define the next decade of how humanity creates, learns and remembers. Britain is the right place to build it.”

     Swaneet Singh, Co-President, Eros Innovation

    “Storytelling has always evolved alongside technology, but the heart of every great story remains imagination, emotion, and human creativity. Through Eros Brahmand, Eros Universe, and Eros Remastered, we are building something that has never before been attempted at this scale, a new creative ecosystem powered by AI, rooted in culture, and designed to bring stories to audiences in entirely new ways. We are proud to be building it from London.”

    Ridhima Lulla, Co-Founder & Co-President, Eros Innovation; CEO, Eros Brahmand Studios

  • Evergreen Goodwill Brings Seattle Soccer Summer to Life with Custom Screen-Printing Events at the World’s Largest Goodwill

    SEATTLE, June 9:  As Seattle gears up for a global influx of soccer fans this summer, Evergreen Goodwill of Northwest Washington is inviting locals and visitors alike to experience a different kind of matchday energy—one rooted in creativity, community, and uniquely Seattle style.

    Just steps from Seattle Stadium, the Seattle flagship store—the largest Goodwill in the world—will host two special screen-printing events as part of its Seattle Soccer Summer celebration. Taking place June 19 and June 24 from 3–7 PM, these one-of-a-kind activations transform thrifted shirts into meaningful, personalized keepsakes.

    Designed by Seattle-based artist Hoa Hong, the limited-edition graphics draw inspiration from soccer culture and the global connections that define the sport—offering a wearable memory for travelers and a point of pride for locals. Each item will be screen-printed live on-site by The Vera Project, turning every piece into something personal, creative, and distinctly Seattle.

    For fans heading to or from nearby match watch parties, the events offer a natural extension of the day’s energy. Located a short walk from the Chinatown–International District, the flagship store provides an easy post-match destination at which to wait out the heavy traffic.

    Event Highlights:

    Limited-edition, soccer-inspired designs by Hoa Hong

    Live screen-printing with custom tees and totes made on the spot

    Curated selection of high-quality blank t-shirts to choose from

    Live DJ set from 3–5 PM

    A creative, community-driven atmosphere that reflects Seattle’s culture

    Beyond the experience itself, each purchase carries a deeper impact: Revenue from every sale supports Evergreen Goodwill’s tuition-free job training, education, and career placement programs across Northwest Washington—connecting a moment of creativity to long-term community benefit.

  • ALAN CAGLE NAMED MANAGING DIRECTOR AT LOEWS PHILADELPHIA HOTEL

    PHILADELPHIA, PA , June 10: Loews Philadelphia Hotel, Philadelphia’s Historic Treasure and home to the Philadelphia Savings Fund Society (PSFS), is pleased to welcome Alan Cagle as Managing Director of Loews Philadelphia Hotel. With over 25 years in hospitality, Alan brings a wealth of experience and a strong commitment to excellence to Loews Hotels & Co.

    With Cagle at the helm, the hotel is poised to continue to penetrate its presence within Philadelphia’s meetings, events, and social catering landscape while elevating its profile among leisure and business travelers alike. Combined with the recent reimagination of the hotel’s iconic 33rd floor event space and the launch of new family-focused summer experiences, Loews Philadelphia Hotel is entering an exciting new chapter that reinforces its role as both a historic landmark and a dynamic gathering place in the heart of the city.

    New this Summer, Loews Philadelphia Hotel is pleased to launch a new STEAM initiative as an extension of its Loews Loves Families and Loews Little Legends program. The hotel’s monthly art and jazz brunch, will now include a complimentary art activity experience inspired by the featured monthly artist from Morton Contemporary Gallery allowing children to unleash their inner artist alongside a trained professional on the last Sunday of every month in June, July and August. Children can simply sign up at the Front Desk prior to participation.

    “I am thrilled to join Philadelphia’s Historic Treasure at Loews Philadelphia Hotel and work alongside talented leaders and team members at the property. As we continue to build upon the hotel’s legacy and introduce exciting new experiences for our guests and the Philadelphia community, I am confident my leadership will further elevate the property’s position as one of the city’s premier and iconic hospitality destinations.”

    Alan most recently joins us from Hilton Philadelphia at Penn’s Landing with Pyramid Global Hospitality, a full-service waterfront hotel featuring 350 guest rooms and 24,000 square feet of banquet and catering space, where he served as General Manager. During his tenure, he has built strong industry partnerships through involvement with the Philadelphia Convention & Visitors Bureau and the Greater Philadelphia Hospitality Association, driving citywide and social catering opportunities.

    Prior to living in Philadelphia, Alan spent nearly eight years leading the Food & Beverage team at Hyatt Regency Princeton, NJ, where he oversaw multi-outlet operations including banquets, restaurants, lounges, and in-room dining, and launched two concept-driven restaurant brands. In his spare time, Alan enjoys cooking with his family and recently started experimenting with hydroponic growing.

  • RAKEZ joins forces with Mohammed bin Rashid Innovation Fund to strengthen support for innovators and high-potential businesses

    RAKEZ joins forces with Mohammed bin Rashid Innovation Fund to strengthen support for innovators and high-potential businesses

     

    Ras Al Khaimah, 10 June: Ras Al Khaimah Economic Zone (RAKEZ) entered into a strategic partnership with the Mohammed bin Rashid Innovation Fund (MBRIF), a federal initiative launched by the Ministry of Finance, to strengthen support for innovators, startups, and growth-stage businesses within its ecosystem.

    The partnership was formalised during a signing ceremony at Compass Coworking Centre between MBRIF Head Shaker Zainal and RAKEZ Chief Government & Corporate Relations Officer Yaser Abdulla Al Ahmed. The collaboration reflects a shared commitment to helping innovative businesses access funding support, ecosystem connections, and growth opportunities that enable long-term scalability and market expansion.

    Through this collaboration, RAKEZ customers will gain access to a broader range of support services designed to accelerate business growth. This includes access to financing pathways and funding support through MBRIF, alongside structured mentorship and expert advisory to help innovative businesses strengthen their business models and scale more effectively. The partnership will also provide access to joint workshops and innovation programmes focused on practical areas such as growth strategy, financial planning, and market expansion.

    These offerings will be complemented by RAKEZ’s streamlined business set-up, licensing, and operational support, as well as access to a wider ecosystem of partners, investors, and networks. Together, these elements are intended to help businesses launch, grow, and expand with greater confidence while contributing to sustainable, impact-driven outcomes.

    Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance and the Ministry’s representative at MBRIF, Fatima Yousif Alnaqbi, said: “The Mohammed Bin Rashid Innovation Fund continues to play an important role in advancing the UAE’s innovation ecosystem and supporting the country’s vision for a competitive, knowledge-based economy. Partnerships of this kind help expand the support available to high-potential businesses by strengthening access to financing, strategic guidance, and growth opportunities. Continued collaboration across the ecosystem is essential to creating the conditions in which innovation can scale, diversify the economy, and contribute meaningfully to the UAE’s long-term development.”

    RAKEZ Group CEO Ramy Jallad said: “Innovation plays a critical role in shaping resilient and future-ready economies. Through our partnership with MBRIF, we are creating stronger pathways for startups and growth-stage businesses within our ecosystem to access specialised support, funding opportunities, and strategic networks that can help accelerate their growth journeys. This collaboration reflects our continued focus on building an environment where innovative businesses can scale with confidence from Ras Al Khaimah.”

    By bringing together funding, mentorship, and innovation support with a seamless business set-up and operating environment, the partnership ensures that startups and SMEs have what they need at every stage of their growth journey. RAKEZ and MBRIF will continue to work closely to help innovative businesses scale with confidence and unlock new opportunities within the UAE’s evolving innovation landscape.

  • Green SM Accelerates India Expansion with Urban Vault Partnership, Opens First Office in Gurugram

    Bengaluru, June 10: Urban Vault, one of India’s managed and flexible workspace providers, has announced a strategic partnership with Green SM, the electric ride-hailing service backed by Vietnam’s Vingroup, to provide managed office spaces across India as the company begins its India operations.

    Green SM Accelerates India Expansion with Urban Vault Partnership, Opens First Office in Gurugram

    As part of the association, Urban Vault has delivered Green SM’s first office in India—a 16,000 sq. ft. managed workspace at Paras Twin Towers on Golf Course Road, Sector 54, Gurugram. The facility will serve as a key operational hub for Green SM as it launches its app-based all-electric taxi service in the country.

    Green SM officially commenced operations in India on June 5, 2026, with Delhi-NCR as its first market. The company plans to gradually expand to other major cities across the country, taking on established ride-hailing players while promoting sustainable urban mobility through its electric vehicle ecosystem.

    Urban Vault has partnered with Green SM to support their growing operational requirements in Bengaluru and Gurugram. Under the new partnership, Urban Vault will provide managed office solutions for Green SM across India, supporting the company’s rapid expansion plans.

    Currently, Urban Vault is providing workspace infrastructure with a capacity of approximately 500 seats for Green SM across locations. This capacity is expected to double to nearly 1,000 seats by the end of the year as the company scales its operations in India.

    Speaking on the partnership, Mr. Amal Mishra, Co-Founder and CEO, Urban Vault, said:

    “We are delighted to partner with Green SM and support its India growth journey. The trust placed in Urban Vault by Green SM reflects our ability to deliver high-quality, scalable, and agile workspace solutions for global enterprises entering India. As Green SM expands its footprint across multiple cities, we look forward to creating workspaces that enable innovation, collaboration, and operational excellence. The opening of the Gurugram office marks the beginning of a long-term partnership with one of the world’s most exciting green mobility companies.”

    Commenting on the association, Mr. Bach Tuan Anh, CEO, Green SM India said:

    “India is a strategic market for Green SM, and as we build our presence across the country, having a reliable workspace partner is essential. Urban Vault’s ability to provide fully managed, flexible, and scalable office solutions across key cities aligns perfectly with our expansion plans. We are pleased to partner with Urban Vault as we establish our operational base and drive the adoption of sustainable mobility solutions in India.”

    The partnership highlights the growing demand among global companies for managed and flexible workspaces that offer speed, operational efficiency, and scalability while entering and expanding in India. With a strong presence across major cities, Urban Vault continues to strengthen its position as the preferred workspace partner for multinational corporations, high-growth startups, and global capability centers.

    Over the years, UrbanVault has expanded its national portfolio to over 2.80 million sq. ft., managing 70,000+ seats across 80+ locations in Bengaluru, Pune, Gurugram, and other major cities. The company continues to demonstrate strong performance, with an expected turnover of over ₹212 crore in FY2025-26, 70%+ year-on-year growth, and 15% PAT.

  • Anastasia Beverly Hills Launches ‘Micro-Stroke Brow Pen’ in India

    Anastasia Beverly Hills Launches ‘Micro-Stroke Brow Pen’ in India

    Anastasia Beverly Hills, known for its iconic brow products, expands its portfolio with another innovative launch, “MicroStroke Brow Pen”, marks a new step in modern brow artistry for its Indian Consumers.

    The brand’s trend-setting brow innovations have become long standing cult favorites among beauty lovers. With this latest launch, ABH is set to redefine brow artistry once again with a next-generation essential designed to deliver ultra-realistic, hair-like strokes with effortless precision.

    Crafted with a micro-fine flexible brush tip, the MicroStroke Brow Pen mimics the look of natural brow hairs to create fuller, naturally sculpted brows with ease. The perfectly balanced ink flow ensures smooth, controlled application without skipping, dragging, or patchiness, while delivering buildable dimension and precise definition that lasts up to 24 hours and is water-resistant.

    The dual-ended design features a custom spoolie brush for seamless blending and effortless brow styling. Encased in sleek luxe ombré packaging for easy shade identification. With the launch of the MicroStroke Brow PenAnastasia Beverly Hills continues to redefine modern brow artistry for beauty consumers in India, delivering professional-quality results with everyday ease.

    Available Shades: Soft Brown, Ebony, Dark Brown, Medium Brown

    Availability: Nykaa, Sephora, and Tira