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Ras Al Khaimah, July 22: Ras Al Khaimah Economic Zone (RAKEZ) has signed an agreement with Fazaa to enable employees across companies in the RAKEZ business community to access Fazaa membership and benefit from a wide range of offers, discounts and services across the UAE.

As part of the collaboration, eligible employees of companies registered under RAKEZ will be able to subscribe to Fazaa’s Silver, Gold and Platinum membership tiers through RAKEZ. The memberships provide access to benefits across a range of sectors, including healthcare, automotive services, beauty and wellness, restaurants, furniture, property and car rentals.

The agreement was signed by RAKEZ Chief Government & Corporate Relations Officer Yaser Abdulla Al Ahmed and General Manager of FAZAA Ahmed Mohammed Buharoon.

The collaboration reflects RAKEZ’s continued efforts to expand the value-added services available to its business community and support companies beyond their core licensing and operational requirements. Under the agreement, RAKEZ will facilitate the registration and issuance of Fazaa memberships for eligible employees, giving its clients an additional way to support their workforce through access to services and benefits across Fazaa’s network of participating partners.

RAKEZ Group CEO Ramy Jallad said, “Our role extends beyond helping companies establish and operate their businesses. We continuously look for practical ways to add value to their journey and enhance their overall experience within the economic zone. Through our collaboration with Fazaa, employees across the RAKEZ community will gain access to a broad range of everyday benefits that support their needs and wellbeing.”

General Manager of Fazaa Ahmed Mohammed Buharoon said, “We are pleased to partner with RAKEZ, one of the UAE’s leading economic zones, to extend the value of Fazaa membership to its vibrant business community. This collaboration reflects our shared commitment to enhancing the wellbeing of employees by providing them with meaningful everyday benefits and services. At Fazaa, our mission is to create partnerships that improve quality of life and deliver tangible value to individuals, families, and organizations. Through this agreement, employees within the RAKEZ community will gain access to a comprehensive network of offers and privileges designed to support their daily needs across healthcare, retail, hospitality, mobility, and many other sectors.”

The collaboration supports RAKEZ’s broader mission to build a connected and enabling business ecosystem where companies and their people can grow and thrive.

Mumbai, July 22: GS Caltex India today unveiled the refreshed global identity of its flagship lubricant brand, Kixx, in the Indian market, marking a significant milestone in the brand‘s evolution following its 20-year global journey. Introduced at an event in Mumbai, the refreshed identity features a modernized Kixx logo and the new global brand slogan, “Lubricating the Future,” reflecting GS Caltex‘s commitment to innovation, performance, and developing advanced lubrication solutions for the evolving mobility and industrial landscape.

Speaking at the launch, Mr. Sung Hur, Executive Vice President & Head of Chemical & Lubricants Business, GS Caltex, said, “The refreshed Kixx identity reflects our vision to lead the future of lubrication through innovation and customer-centric solutions. India is a strategic market for us and this launch reinforces our long-term commitment to delivering world-class lubricant technologies to customers across the country.”

Mr. Vijay Savant, CEO & Managing Director, GS Caltex India, said, “The new Kixx identity represents more than a visual transformation, it reflects our commitment to delivering advanced, high-performance lubricant solutions backed by global expertise. As India‘s mobility and industrial sectors continue to evolve, Kixx is well-positioned to support their growth.”

Mr. K. Madhu Mohan, VP-Marketing, GS Caltex India, added, “‘Lubricating the Future‘ embodies our promise to drive better performance, efficiency and sustainable progress. The refreshed identity will strengthen Kixx‘s presence while reinforcing the trust customers place in our brand.”

The new brand identity will be rolled out across Kixx products and customer touchpoints in India in a phased manner, aligned with GS Caltex‘s global branding strategy.

The new identity reflects the brand‘s continued focus on anticipating the future needs of customers while delivering products that enhance performance, efficiency and reliability.

New Delhi, July 22, 2026 – The government has intensified efforts to strengthen India’s seafood export sector under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), with a focus on increasing production, improving value chains, and enhancing the competitiveness of Indian seafood in international markets.

The initiative aims to support fishermen, fish farmers, entrepreneurs, and stakeholders across the fisheries ecosystem by promoting modern infrastructure, sustainable practices, technology adoption, and better market access.

Under PMMSY, the government has been working to develop a stronger fisheries sector through investments in aquaculture, cold storage facilities, processing units, quality improvement measures, and export-oriented infrastructure. These efforts are expected to help improve product quality and meet global standards.

Officials highlighted that India’s seafood industry plays an important role in the country’s economy by generating employment opportunities, supporting coastal communities, and contributing to export earnings. Strengthening the sector is also aimed at improving livelihoods of millions associated with fisheries and allied activities.

The government’s export-focused approach seeks to expand India’s footprint in global seafood markets by encouraging diversification, promoting value-added products, and enhancing supply chain efficiency.

Industry stakeholders said improved infrastructure, sustainable fisheries management, and increased support for exporters will help India compete more effectively in the global seafood market.

With continued focus on the fisheries sector, the government aims to build a resilient and globally competitive seafood ecosystem while ensuring inclusive growth for fishing communities across the country.

New Delhi, July 22: Nestlé India has reported a strong financial performance for the first quarter, with its consolidated net profit rising 47.9 per cent year-on-year to Rs 975 crore, marking a significant improvement in profitability and reinforcing investor confidence.

The company’s strong quarterly results reflect steady business momentum, supported by consistent consumer demand, effective market strategies, and operational efficiency. The positive performance also led to a rise in the company’s share price, with stocks gaining more than 2 per cent after the announcement.

Nestlé India, one of the country’s leading food and beverage companies, has continued to strengthen its presence across diverse product segments by focusing on innovation, quality, and evolving consumer preferences. Its wide portfolio across nutrition, beverages, and everyday food products has helped maintain strong engagement with consumers.

The company’s latest performance highlights the resilience of India’s fast-moving consumer goods (FMCG) sector, which continues to adapt to changing market conditions through product diversification, improved supply chains, and customer-focused strategies.

Market experts said the quarterly growth demonstrates the strength of established consumer brands and the importance of innovation in sustaining business performance amid a competitive environment.

Nestlé India remains focused on expanding its market reach, enhancing operational capabilities, and creating long-term value for consumers and stakeholders. The company’s latest results underline its continued growth journey and strong position in the Indian consumer market.

New Delhi, July 22: External Affairs Minister S. Jaishankar emphasised the need for stronger India-ASEAN cooperation as countries navigate growing global uncertainties and evolving geopolitical challenges.

Addressing key regional developments, the External Affairs Minister highlighted the importance of closer collaboration between India and ASEAN nations in areas such as trade, connectivity, security, technology, and sustainable development.

Jaishankar’s engagements in Manila included discussions with regional counterparts on issues affecting the Indo-Pacific region and the broader international landscape. The talks focused on strengthening partnerships, maintaining regional stability, and promoting greater coordination among like-minded countries.

During his meetings with foreign ministers, including discussions on global developments and bilateral relations, the External Affairs Minister underlined India’s commitment to constructive engagement and dialogue to address shared challenges.

The discussions also reflected the growing importance of the Indo-Pacific region amid changing global dynamics, with countries seeking stronger partnerships to enhance economic resilience, maritime cooperation, and security frameworks.

India and ASEAN share longstanding ties based on mutual respect, economic cooperation, and cultural connections. Both sides have been working towards expanding collaboration across multiple sectors, including supply chains, digital technology, education, and infrastructure.

Jaishankar said deeper cooperation among regional partners would be crucial in building a stable, open, and inclusive Indo-Pacific while addressing common concerns in an increasingly complex global environment.

The latest diplomatic engagements underline India’s continued focus on strengthening regional partnerships and promoting collective solutions to emerging global challenges.

BLOOMINGTON, Minn., July 22: i-Lumen Scientific, Inc., a clinical-stage medical technology company developing bioelectric therapies for retinal disease, today announced the first U.S. patient has been randomized in the i-SIGHT2 pivotal study evaluating the i-Lumen AMD System in patients with intermediate to advanced dry age-related macular degeneration (AMD).

The first U.S. i-SIGHT2 study randomization occurred at Texas Retina Associates, Fort Worth, TX, one of the nation’s leading retina practices. The milestone follows the initiation of the pivotal study in the United Kingdom and represents an important step in advancing i-Lumen’s global clinical program.

i-SIGHT2 is a randomized, sham-controlled study designed to evaluate the safety and effectiveness of the i-Lumen AMD System, an investigational device that delivers a noninvasive, office-based bioelectric therapy intended to improve retinal electrophysiology and visual function in patients with vision loss due to intermediate to advanced dry AMD. The therapy delivers low-level microcurrent stimulation through the eyelid to boost the transepithelial potential, repolarizing the retinal pigment epithelium (RPE) cells to improve photoreceptor cell function.

“Randomizing the first U.S. patient in i-SIGHT2 is an important milestone for i-Lumen and for the broader effort to develop meaningful new treatment options for patients with dry AMD,” said John VeLure, CEO and President at i-Lumen Scientific. “We are grateful to Texas Retina Associates for their continued partnership and participation in both the i-SIGHT feasibility study that was completed last year and the i-SIGHT2 pivotal study. The i-SIGHT2 pivotal trial is designed to evaluate the benefits of bioelectric therapy in restoring retinal electrophysiology and signaling to improve visual outcomes in a patient population with significant unmet need.”

AMD is a leading cause of vision loss worldwide in adults over age 50, affecting more than 230 million people globally, with prevalence expected to rise significantly over the next decade. More than 60% of these patients have intermediate AMD, a stage marked by progressive central vision loss and limited treatment options before the disease advances further.

AMD results in vision loss due to the dysfunction of the retinal pigment epithelium (RPE) and other retinal cells within the macula—the part of the retina that is responsible for central vision. In the intermediate to advanced dry stages, central vision becomes distorted and progression of the disease leads to significant vision loss, making daily activities difficult, such as reading, driving and face recognition.

The i-SIGHT2 study builds on findings from i-Lumen’s prior i-SIGHT feasibility study, which evaluated bioelectric stimulation in patients with vision loss due to intermediate to advanced dry AMD. In that study, treated eyes demonstrated improvements in visual function, retinal electrophysiology, and structural biomarkers associated with photoreceptor health, supporting continued evaluation in a larger pivotal trial.

The i-Lumen AMD System is an investigational medical device and has not been approved by the U.S. Food and Drug Administration or any other regulatory authority for commercial use.

BOISE, Idaho, NEW YORK, CHICAGO, LONDON and HONG KONG, July 22 — A striking investment paradox is emerging at the heart of the asset management industry’s AI revolution, new research from Clearwater Analytics reveals.

While AI budgets across the fund management industry are growing at an extraordinary pace — with 63% of firms increasing AI spending by more than 50% in the past 12 months and not a single firm reporting a budget decrease — the industry is deeply divided about whether it is spending the right amount.

One in four (25%) fund managers believe their organisation is still not investing enough in AI. Yet a striking 66% say they fear their firms are already over-investing. Together, these findings expose a fault line running through the industry: for all the conviction that AI is essential, there is no consensus on what the right level of commitment looks like in practice — and for an industry where capital allocation decisions carry significant weight, that lack of consensus carries real risk.

 A Maturing Industry, Not a Late One

Contrary to the narrative of an industry playing catch-up, the research reveals that AI adoption in asset management is more mature than commonly assumed. The majority of fund managers (56%) began integrating AI four to five years ago, and a further 34% started their journey two to three years back. Only 9% have begun AI integration within the past year.

This means the industry is not at the beginning of its AI journey — it is in the middle of it. The challenge is no longer whether to adopt AI, but how to scale it effectively, govern it responsibly, and calibrate the right level of investment to deliver measurable returns.

 The Spending Surge Is Extraordinary and Showing No Signs of Slowing

Whatever the debate about whether investment levels are right, the direction of travel is unambiguous:

· 13% of fund managers report AI investment increased by over 100% in the past 12 months

· 50% saw expenditure rise between 50% and 99%

· Not a single firm reported a decrease in AI spending

· Only 4% held budgets steady

This is an industry-wide acceleration, driven by competitive pressure, client demand, and the growing recognition that AI is a core operational imperative.

AI Is Already at the Operational Core

The research makes clear that AI has moved well beyond pilot programmes and proof-of-concept projects. It is already embedded in the engine room of fund management operations, in investment decisions, risk management, and day-to-day workflows:

· Investment Decisions: 43% of managers now use AI for 25–49% of their investment decision-making; 10% rely on it for the majority of their investment calls

· Risk Management: 38% apply AI to 25–49% of their risk processes; 8% use it for the majority of risk assessments

· Operations: 34% integrate AI into 25–49% of operational decisions; 6% use AI for over half of their operational workflows

The message is clear: AI is already shaping how fund managers make decisions, manage risk, and run their operations today.

 The Real Challenge: From Spending to Institutionalisation

The paradox the research reveals points to a deeper challenge. The industry has moved past the question of whether to invest in AI. The new question is how to institutionalise it effectively: building the data infrastructure, governance frameworks, talent capabilities, and operational processes that allow AI investment to translate into measurable outcomes.

Firms that solve this challenge — moving beyond the anxiety of calibrating spend to the discipline of deploying AI systematically across their investment lifecycle — will be the ones that pull ahead.

Souvik Das, CTO at Clearwater Analytics, said: “What our research reveals is an industry wrestling with how to get AI right. Increasing the budget is the easy part. The harder challenge is institutionalising AI in a way that drives genuine alpha and operational excellence, rather than simply adding cost and complexity.”

“At Clearwater, we are helping clients navigate exactly this challenge, by embedding AI directly into our platform and automating the data reconciliation and investment accounting lifecycles that form the foundation of everything else,” continued Das.

“When the infrastructure is right, AI doesn’t just work, it compounds. It identifies data anomalies in real-time, reduces the manual burden on risk and operations teams, and frees people to focus on the high-value strategic work that actually moves the needle.”