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Business Travel

IndiGo adds Ras Al Khaimah as 100th destination in 6E network

These flights are designed to cater to business and leisure travellers who are constantly on the lookout for new and affordable flying options…reports Asian Lite News

IndiGo, India’s leading carrier, announced Ras Al Khaimah as its 100th destination in 6E network. The airline will commence new direct flights between Mumbai and Ras Al-Khaimah, effective September 22, 2022. Ras Al-Khaimah was also named as Gulf Tourism Capital for the year 2020 and 2021 by Gulf Cooperation Council.

Mr. Sanjay Kumar, Chief Strategy and Revenue Officer, IndiGo said, “We are pleased to announce our entry into the fourth Emirate with Ras Al-Khaimah as our 26th international and 100th overall destination. These new flights will cater to the high demand for travel to Ras Al Khaimah, with India being the third largest international source market for the city in 2021, and traffic expected to reach pre-pandemic levels this year. RAK is also focussing on becoming the regional leader in sustainable tourism, which aligns well with our overall focus on sustainability. The increased connectivity will not only bolster trade but also strengthen sustainable and responsible tourism between the countries. Our expansion to connect the 100th destination is a testament to our efforts to stay true to our promise of affordable fares, on-time performance, courteous and hassle-free service across a wide network, onboard our lean clean flying machines.”

Apart from being the 100th destination, Ras Al-Khaimah is also the 4th city in the emirates, 11th destination in Middle East, and 26th international location in 6E network. The passengers can experience nature as well as authentic offerings along with beaches and Hazar mountains. Some of the tourist destinations at Ras Al-Khaimah include Sunset at Jebel Jais, Zipline Down Jebel Jais’ slope, Dhayah Fort, National Museum, Khatt Springs amongst others. RAK is a popular destination for leisure travellers, destination weddings and incentives targeting the MICE segment.

These flights are designed to cater to business and leisure travellers who are constantly on the lookout for new and affordable flying options to access destinations which help in building businesses and are known for their tourist attractions. Customers who wish to plan their travel can book tickets via our official website www.goIndiGo.in. The introduction of these flights will further bolster the airline’s domestic and international connectivity.

Flight Schedule:

His Excellency Sheikh Salem Bin Sultan Al Qasimi, Chairman of The Department of Civil Aviation Ras Al Khaimah & Ras Al Khaimah International Airport said: “Ras Al Khaimah International Airport’s partnership with IndiGo airlines is a significant step forward in getting back to a normal footing post the pandemic. We welcome them whole heartedly and we are enthusiastic to address the increased passenger flow from the Indian subcontinent. Ras Al Khaimah’s thriving tourism & industrial sector will benefit from this connectivity and I am confident that this partnership will prove to be an important piece in our ongoing expansion strategy for the airport.”

The CEO of Ras Al Khaimah International Airport, Mr. Atanasios Titonis commented: “We are happy to have IndiGo airlines as our partner. Our team along with IndiGo’s team have been working several months together to achieve this main step for our airport and to boost tourism for Ras Al Khaimah as an Emirate. Indigo’s working values are great, and their vision is commendable, and they are the right airline partners in our portfolio as we are on our way to transition into a destination airport. We envisage a huge array of opportunities coming in from the Indian subcontinent with the start of this operation as Mumbai is a major airline hub and it can further connect our passengers to several destinations within India and also other international destinations served by IndiGo.”

About IndiGo

IndiGo is amongst the fastest growing low-cost carriers in the world. IndiGo has a simple philosophy: offer fares that are low, flights that are on time, offering a courteous, hygienic, and hassle-free travel experience. With its fleet of 280+ aircraft, the airline is operating over 1600 daily flights and connecting 74 domestic destinations and 26 international destinations. For more information, please visit www.goIndiGo.in or download our mobile app. You can also connect with us on Facebook, Twitter and Instagram.

ALSO READ-Indigo revenue rises four fourfold, hits 130.2 bn

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Business

Samsung India ready to welcome 5G

In India, the new foldable phones will be available for open sale from early next month. The pricing for new devices in the country will also be revealed at a later date…reports Asian Lite News

South Korean major Samsung on Wednesday unveiled the fourth generation of foldable smartphones — Galaxy Z Flip4 (for $1,000) and Galaxy Z Fold4 (for $1,780) — with hyper-fast 5G that will be available in India for pre-orders from next week.

Globally, the foldable devices will be available for pre-order beginning August 10, with general availability starting August 26 (in select countries).

In India, the new foldable phones will be available for open sale from early next month. The pricing for new devices in the country will also be revealed at a later date.

The company also introduced Galaxy Watch5 and Watch5 Pro smartwatches (in 40mm and 44 mm sizes), along with a Galaxy Buds2 Pro hearable device, at its ‘Galaxy Unpacked’ global event.

The Galaxy watches will be available for pre-order in select markets starting from August 10 with sale starting August 26, according to the company.

“Created in collaboration with our world-class partners, the next foldable devices offer unparalleled mobile experiences that meet the needs of our most dynamic users,” said Dr TM Roh, President and Head of Mobile eXperience Business at Samsung.

Roh said last month that the world saw nearly 10 million foldable smartphones being shipped worldwide in 2021 — an industry increase of more than 300 per cent from 2020.

In India, Samsung’s foldable phones have grown four times since 2020 in the country, with Fold device garnering 61 per cent market share while its Flip foldable model reaching 39 per cent market share in the country (according to CMR).

Touted as the toughest foldables ever, the Flip4 and Fold4 come with armor Aluminum frames and hinge cover, along with exclusive Corning Gorilla Glass Victus+ on the cover screen and rear glass.

Galaxy Z Flip4 comes in Bora Purple, Graphite, Pink Gold and Blue finishes while Galaxy Z Fold4 in Graygreen, Beige and Phantom Black, along with Burgundy colours.

The Flip4 device comes with an upgraded camera and is powered by the Snapdragon 8+ Gen 1 Mobile Platform. It houses an expanded 3,700mAh battery with super-fast charging that claims to take the battery power up to 50 per cent in around 30 minutes.

Galaxy Z Fold4, also with Snapdragon 8+ Gen 1 Mobile Platform and hyper-fast 5G, is the first device to ship with Android 12L, a special version created by Google for large-screens, including foldables.

Galaxy Z Fold4 offers an upgraded 50MP wide lens and 30x Space Zoom lens, along with a variety of camera modes.

“Content is even more immersive and distinctive on the 7.6-inch main screen, a 120Hz adaptive refresh rate, and a less visible Under Display Camera (UDC) featuring a new scatter-type sub-pixel arrangement,” said Samsung.

Galaxy Watch5 is equipped with a unique ‘BioActive Sensor’ that reveals heart rate, blood oxygen level and even stress level.

Watch5 Pro has the largest battery in a Galaxy Watch. It’s 60 per cent larger than Galaxy Watch4.

In addition, users can monitor blood pressure and ECG from their wrist but these heath functions are only available in select markets.

“We are dedicated to giving our Galaxy Watch community the tools, data and resources needed to not only understand their overall health and wellness better, but to coach them on their journey,” TM Roh, President and Head of Mobile eXperience Business at Samsung Electronics, said in a statement.

The Galaxy Watch5 Large 44mm comes in graphite, sapphire, and silver colour options and the Small 40mm option in graphite, pink gold, and silver, which features a Bora Purple strap.

Galaxy Watch5 Pro will be available in black titanium and gray titanium finishes.

Galaxy Watch5 is equipped with Samsung’s unique BioActive Sensor that uses a single unique chip that combines three robust health sensors — Optical Heart Rate, Electrical Heart Signal and Bioelectrical Impedance Analysis — to deliver extensive readings that include heart rate, blood oxygen level, and even stress level.

In addition, users can get a deeper understanding of their heart health by monitoring blood pressure and ECG — right from their wrist. These two features are only available in select countries.

The temperature sensor uses infrared technology for more accurate readings, even if the temperature of your surroundings changes.

Meanwhile, Galaxy Watch5 Pro features enhanced Sapphire Crystal that better resists any wear and tear and a durable titanium casing that protects the display with a protruded bezel design.

Galaxy Watch5 Pro is said to have the largest battery in a Galaxy Watch as the company said it is 60 per cent larger than Galaxy Watch4.

Both smartwatches offer faster-charging capabilities and run Wear OS Powered by Samsung (Wear OS 3.5). Additionally, One UI Watch4.5 offers a fuller typing experience, and an easier way to make calls.

ALSO READ: OPPO, OnePlus stop smartphone sales in Germany

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Business

‘Silver can be good investment and diversifier’

“Newer uses of technology like 5G and EVs and a shift to renewable sources of technology like Solar is further going to increase the demand for silver.” …Anil Ghelani interacts with Manish M. Suvarna

Anil Ghelani, SVP & Head – Passive Investments & Products, DSP Investment Managers, said that they have launched Silver ETF because silver is a unique commodity and can be a good investment and a diversifier. Purchasing quality physical silver can be a challenge and there is a premium that individuals have to pay. Also, the storage costs and risks should not be forgotten. Investing in Silver ETFs take away these challenges.

Excerpts from the interview:

Recently you have launched silver ETF fund, can you give us some details of it?

Silver often flies under the radar of its metal counterpart, gold, but silver has unique properties that make it attractive as both a precious and an industrial metal.

We have launched this because silver is a unique commodity and can be a good investment and a diversifier. Purchasing quality physical silver can be a challenge and there is a premium that individuals have to pay, Also let’s not forget the storage costs and risks. Investing in Silver ETFs take away these challenges.

Silver ETF can be bought and sold on stock exchanges the same way we buy and sell shares. This Silver ETF is benchmarked against the Domestic price of silver.

Majority of the total corpus will be invested in 999 purity physical silver bars and a small portion may also be invested in Derivatives where silver is the underlying asset.

These Physical silver bars will be kept with a third party custodian and receive an auditors’ report for physical verification of silver at periodical intervals. Thus Silver ETFs can be a way to take exposure to silver without having to worry about purity, quality, liquidity and storage.

What are the advantages to investors who want to invest in this scheme? And why will it be a favourable diversifier for investors?

 Silver is a commodity with dual drivers of demand. 51 per cent of the demand comes in the form of industrial demand whereas gold is a mere 10 per cent and the rest in the form of Investment and Jewellery. This is what makes it unique. During economic uncertainties, the safe haven and store of value and during economic growth cycles the Industrial and Jewellery demand drives the prices of silver.

Newer uses of technology like 5G and EVs and a shift to renewable sources of technology like Solar is further going to increase the demand for silver. Silver being a by-product of other metals, the supply will be limited and dependent on other metals. These properties make it an excellent commodity to diversify by benefiting from Industrial as well as Safe haven drivers.

 What are your views on mutual funds aggressively launching NFOs after a halt after three months?

 There is a very prudent guideline from SEBI which allows only one Fund in each specified category. So only in categories where a fund house did not earlier have any fund, they can plan a new fund based on their views of the investor’s needs and timing. Many fund houses have been launching new and innovative ETFs and Index Funds where there was a gap and so most of the NFOs you see are of such passive funds. Besides those, currently we have quite a few relatively new fund houses who have a product gap in many categories and so they are launching various NFOs to ensure they have funds in each relevant category.

How do you see the growth of Silver ETF in the whole industry going ahead?

 During the commodity bull cycles, Silver outperforms gold. Silver can act as a diversifier, a trading product for people who understand its cyclicality and as a long term investment who understand its importance as an industrial metal. AMCs have started to look at asset diversification beyond Gold and we will see more AMCs coming out with Silver ETFs. With the right information and data dissemination we would see increased participation in Silver ETFs.

ALSO READ: OPPO, OnePlus stop smartphone sales in Germany

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Business

OPPO, OnePlus stop smartphone sales in Germany

Nokia had accused the companies of using its patented technology for processing 4G and 5G signals without paying for a license…reports Asian Lite News

Global smartphone makers OPPO and its subsidiary OnePlus have stopped sales of smartphones and smartwatches in Germany after they lost a patent lawsuit against Finnish telecom player Nokia.

Nokia had accused the companies of using its patented technology for processing 4G and 5G signals without paying for a license.

Nokia won an injunction to halt sales in a German court last week.

The companies told The Verge on Tuesday that that the company halted sales in Germany, blaming “Nokia’s demand for an unreasonably high fee” for patents as the reason for the lawsuit.

“We are actively working with the relevant parties to resolve the ongoing legal matter,” a OnePlus spokesperson said in a statement.

“OnePlus remains committed to the German market and will continue our operations. Meanwhile, OnePlus users in Germany can continue to enjoy our products and related services such as regular software updates and our after-sales service as before,” the spokesperson said.

An OPPO spokesperson told European patent news site JUVE Patent that as the owner of many 5G patents, “OPPO respects the value of intellectual property in innovation to a particularly high degree”.

“The day after the 4G agreement between OPPO and Nokia expired, Nokia immediately went to court. They had previously demanded an unreasonably high contract renewal fee,” the company spokesperson added.

The Europe smartphone market declined by 11 per cent (on-year) and 13 per cent (on-quarter) to 40 million units in Q2 this year, the lowest since Q2 2020.

Xiaomi and OPPO, hit by China lockdowns, suffered double digit YoY declines in their respective shipments, according to Counterpoint Research.

realme continued its European expansion with double digit YoY shipment growth in Q2.

ALSO READ: India fintech market set to reach $1tn in AUM

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Business

Motorola launches new affordable smartphone in India

The new smartphone is available in a single 4GB+64GB storage variant at Rs 12,999 on both online and offline platforms…reports Asian Lite News

With an aim to woo Indian consumers, Motorola on Tuesday launched a new affordable smartphone — moto g32 — that features a full HD+ display with stereo speakers.

The new smartphone is available in a single 4GB+64GB storage variant at Rs 12,999 on both online and offline platforms.

It comes in two colour variants — mineral gray and satin silver.

“Despite being an affordable smartphone, the moto g32 comes with a near-stock Android 12 and focuses on security and privacy with its remarkable ThinkShield for mobile protection feature that ensures enhanced protection from threats to the device,” the company said in a statement.

“The phone also comes with an assured update to Android 13 and guarantees three years of security updates,” it added.

The device with a 6.5-inch FHD+ display offers a 90Hz refresh rate and is packed with stereo speakers with Dolby Atmos sound technology. It houses a 50MP rear camera setup with an 8MP ultrawide sensor and a 16MP selfie camera.

Powered by the Snapdragon 680 Octa-core processor, the new smartphone comes packed with a 5000mAh battery with a 33W Turbopower charger.

The company said that the smartphone also offers IP52 water-repellent design, a side-mounted fingerprint reader to unlock smartphones faster, and more.

ALSO READ: India likely to witness boom in air passenger traffic

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Business India News

India likely to witness boom in air passenger traffic

With the rise in the number of flyers, the government has been taking multiple steps for corresponding growth in the airport infrastructure in the Country…reports Asian Lite News

Indian airports are likely to record a significant rise in the number of air-passengers in the coming years. As per an assessment made by Airports Authority of India (AAI), all India total air passenger traffic is expected to increase from 341 million during 2019- 2020 to around 827 million by the year 2032-33.

With the rise in the number of flyers, the government has been taking multiple steps for corresponding growth in the airport infrastructure in the Country.

The Ministry of Civil Aviation has accorded ‘in-principle’ approval for setting up of 21 Greenfield Airports across the country namely, Mopa in Goa, Navi Mumbai, Shirdi and Sindhudurg in Maharashtra, Kalaburagi, Vijayapura, Hassan and Shivamogga in Karnataka, Dabra (Gwalior) in Madhya Pradesh, Kushinagar and Noida (Jewar) in Uttar Pradesh, Dholera and Hirasar (Rajkot) in Gujarat, Karaikal in Puducherry, Dagadarthi (Nellore), Bhogapuram and Orvakal (Kurnool) in Andhra Pradesh, Durgapur in West Bengal, Pakyong in Sikkim, Kannur in Kerala and Hollongi (Itanagar) in Arunachal Pradesh.

As per the ministry, the timeline for construction of airports depends upon various factors such as land acquisition, mandatory clearances, removal of obstacles, financial closure, etc., by the respective airport developers. The responsibility of implementation of airport projects, including funding of the projects rests with the concerned airport developer and the respective state government (in case the state government is the project proponent).

However, the Greenfield Airport Projects are regularly reviewed by the government to sort out the issues coming in the way of implementation of these projects. So far, out of total 21 Greenfield airports where ‘in-principle’ has been accorded, eight Greenfield airports, including Durgapur, Shirdi, Sindhudurg, Pakyong, Kannur, Kalaburagi, Orvakal and Kushinagar have been operationalised.

Civil Aviation Minister Jyotiraditya Scindia on Sunday said that over the last eight years India’s Civil Aviation industry has been completely transformed. “Under UDAN scheme, we have 425 routes aiming to go up to 1000 routes, 68 new airports aiming to touch 100 airports. In the next 4 years we are expecting 40 crore travellers through Civil Aviation in India. That day is not far when along with rail transport and road transport Civil Aviation will become the bulwark of the transportation in India,” he said.

ALSO READ: ‘Developed nations keen sign trade deals with India’

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Business India News

India fintech market set to reach $1tn in AUM

Payments, digital lending, wealthtech, insurtech and neo-banking will contribute to the growth in the fintech space, with agri and proptech considered to be big bets….reports Asian Lite News

The Indian fintech market is expected to log 10 times growth to achieve $1 trillion in assets under management (AUM) and $200 billion in revenue by 2030, a new report showed on Tuesday.

Much of the growth will be driven in the digital lending market, which is expected to grow to $515 billion in book size by 2030, according to the report by Chiratae Ventures in collaboration with Ernst and Young (EY).

India is currently home to 21 fintech unicorns and factors like favourable demographics, growing technology adoption, higher disposable incomes and an aware customer is fuelling this growth.

“The Indian fintech market has been a formidable global force, contributing to the largest share of unicorns in India. We have been a technology-first investor, having backed companies such as EarlySalary, Kristal.ai, PB Fintech, ShopSe and Vayana, among others,” said Sudhir Sethi, Founder and Chairperson, Chiratae Ventures.

Payments, digital lending, wealthtech, insurtech and neo-banking will contribute to the growth in the fintech space, with agri and proptech considered to be big bets.

With 5 times growth in the digital tech talent, India has the opportunity to address the global digital skill gap and establish itself as the destination of digital and tech talent, the report noted.

“India is recognised as a strong fintech hub globally and is increasingly becoming a talent destination for fintech businesses,” said Rajiv Memani, Chairman and Managing Partner, EY India.

The buy now pay later (BNPL) model has become mainstream and is on an accelerated growth trajectory, emerging strong not only in B2C but also B2B payments space.

“New asset classes, crypto and NFT, will also continue to attract investor interest as fintechs continue to solve for traditionally underserved customers,” the report noted.

ALSO READ: ‘Developed nations keen sign trade deals with India’
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Arab News Business Saudi Arabia

Riyadh to host first in-person Euromoney Conference in September

Steered by Saudi Vision 2030 — an ambitious blueprint for economic and social reform — the Kingdom has set about bolstering its prospects by transforming the national economy…reports Asian Lite News

The Saudi Ministry of Finance and the Financial Sector Conference have joined forces with Euromoney to host the first in-person Euromoney Saudi Arabia Conference since 2019. Taking place on Wednesday 7 September in Riyadh, the event will be focused on “The Institutionalisation of Investment and Finance”.

Held under the patronage of H.E. Mr Mohammed Al-Jadaan, the Minister of Finance of the Kingdom of Saudi Arabia, the conference has been launched to bring Saudi and international industry experts, thought-leaders, and policy makers to discuss the latest trends in regional and global financial markets.

With Saudi Arabia now recognized as a burgeoning global hub of innovation and investment, the event provides a unique platform and timely opportunity to explore the Kingdom’s road to recovery — in the wake of COVID-19 — new economic initiatives and their impact on the country, wider region and world.

Steered by Saudi Vision 2030 — an ambitious blueprint for economic and social reform — the Kingdom has set about bolstering its prospects by transforming the national economy. As part of this commitment, Vision 2030 aims to create an environment that unlocks business opportunities, broadens the country’s economic base, and creates jobs for all Saudis. The Kingdom has already made significant progress towards accomplishing these goals, leveraging its unique location and potential to attract more international talent and global investment.

This year’s Euromoney Conference will spotlight these developments and map out further steps that can be taken to fully realise the Kingdom’s potential. The opening keynote address will be delivered by H.E. Mr Mohammed Al-Jadaan, who will be joined by an impressive line-up of distinguished local and international speakers.

This lineup includes: HE Mr Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing, Kingdom of Saudi Arabia; HE Mr Mohammed El-Kuwaiz, Chairman, Capital Market Authority; Yousef Abdullah Al Shelash, Chairman, Dar Al Arkan Real Estate Development Company; Abdullah Alrashoud, Chief Executive Officer, BLOMINVEST Saudi Arabia; Hani Baothman, Chairman, Sidra Capital; and Faisal Durrani, Partner – Head of Middle East Research, Knight Frank; Fabrice Susini, Chief Executive Officer, Saudi Real Estate Refinance Company; Ronit Ghose, Global Head, Future of Finance, Citi; Paul Wilson, Chief Investment Officer, Channel Capital; Nabeel Koshak, Chief Executive Officer and Board Member, Saudi Venture Capital Company (SVC) will also be speaking at the event.

The lead sponsors of the conference are Citi; Dar Al Arkan Real Estate Development; Gulf International Bank; Riyad Bank; Standard Chartered and The Financial Academy. The Capital Market Authority is the event Supporting Body. Real estate advisory services will be provided by Colliers. The conference’s co-sponsors are: Alkhair Capital; BLOMInvest; Kamco Invest and Saudi Real Estate Refinance Company. Knight Frank has been announced as the event’s knowledge partner, Derayah Financial is an associate sponsor and Argaam as its digital sponsor. Sidra Capital will serve as an exhibitor.

For more information, to view the agenda, and to apply for your place, please visit the Euromoney Conferences website.

ALSO READ-Riyadh To Reform Aviation Sector

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Business UAE News

Forbes unveils Middle East’s Top 30 Banks 

For the second consecutive year, Qatar’s QNB Group tops the list with $300.3 billion in total assets…reports Asian Lite News

Forbes Middle East has unveiled its ranking of the Middle East’s Top 30 Banks 2022, recognizing the region’s most resilient banking heavyweights that have emerged strong from the pandemic crisis. To construct the list, Forbes Middle East compiled data from listed stock exchanges in the Arab world and ranked companies based on sales, profits, assets, and market value.

As of June 28, 2022, the 30 banks had a total market value of $586.6 billion and assets worth $2.5 trillion. Gulf banks dominate this year’s ranking, with 25 out of the 30 based in the GCC. Saudi Arabia and the UAE are the most represented countries on the list, with 10 and seven banks, respectively. Qatar follows with four banks, while Morocco has three.

For the second consecutive year, Qatar’s QNB Group tops the list with $300.3 billion in total assets. The UAE’s FAB, Saudi’s Al Rajhi Bank, and Saudi National Bank follow in a three-way tie for second place. UAE-based Emirates NBD rounds up the top five. Combined, these five amassed $16.8 billion in 2021 profits, constituting 49% of the aggregate profits of the 30 banks on the list.

Top 5 Banks In The Middle East 2022

1 | QNB Group  
Country: Qatar
Group CEO: Abdulla Mubarak Al-Khalifa

2 | First Abu Dhabi Bank (FAB)
Country: UAE
Group CEO: Hana Al Rostamani

3 | Saudi National Bank (SNB)
Country: Saudi Arabia
Group CEO and MD: Saeed Al-Ghamdi

4 | Al Rajhi Bank
Country: Saudi Arabia
CEO: Waleed Abdullah Ali Al-Mogbel

5 | Emirates NBD
Country: UAE
Group CEO: Shayne Nelson

ALSO READ-Emiratis dominate Forbes’ top CEOs list

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Arab News Business Saudi Arabia

Bupa Arabia becomes most valuable insurance company of ME

Bupa Arabia was also named the “Middle East Health Insurance Company” at the Middle East Insurance Industry Awards – supervised by Ernst & Young…reports Asian Lite News

Bupa Arabia continued to shine even in the face of various COVID_19 related challenges last year, as it dominated a number of regional and international awards as well as global rankings in the health insurance, digital innovation, and sustainability fields among others.

The leading health insurer topped Brand Finance’s list of the most valuable insurance companies in the Middle East in 2021, a testament to Bupa Arabia’s efforts in providing innovative healthcare services to millions of people, within the framework of the Council of Cooperative Health Insurance.

Bupa Arabia also topped the insurance companies for Forbes Middle East’s annual rankings of the 100 most powerful companies in the region for 2021, which includes the largest, most profitable, and most valuable companies in the Middle East.

Tal Nazer, CEO of Bupa Arabia, said the company’s presence in the Forbes Middle East and Brand Finance rankings, acknowledges the success of its strategy of adapting to the needs of the evolving industry, making a difference in healthcare, and most importantly, improving its members’ health.

Bupa Arabia also placed 13th on Brand Finance’s most valuable brands in Saudi Arabia rankings, six places ahead of its position in the previous year’s rankings, driven by a growth in its brand value by 22.7 percent, increasing it to $618 million (SR2.31 billion).

Bupa Arabia remains in the lead

In other achievements, the International Business magazine named Tal Nazer as the “Best CEO of Insurance Company in 2021,” and Bupa Arabia as the “Best Health Insurance Company of 2021.”

The health insurer also won the “Best Innovation for a Health Insurance Product” recognition for its Bupa Parents service, and was named the “Best Leading Investor Relations in Insurance” for applying the highest quality standards in customer service and products in 2020, by the US Journal of World Economic Magazine, which enjoys high credibility among decision-makers and influencers in various financial sectors.

Bupa Arabia was also named the “Middle East Health Insurance Company” at the Middle East Insurance Industry Awards – supervised by Ernst & Young.

Prominent Digital Initiatives

Bupa Arabia won the “Best Health Insurance Company of 2021” and “Digital Innovation in the Health Insurance Sector” awards at the Golden Shield Awards for Excellence, held on the sidelines of the InsureTek Regional Conference. Meanwhile, at the 2021 Global Business Outlook Awards, it won the “Best Health Insurance Provider Award” and “Digital Innovation Award in the Insurance Sector” for its Tebtom program.

Nazer said the multiple award wins reflect Bupa Arabia’s leadership in digital transformation in the insurance sector. The company recently launched the revolutionary Bupa Click service, aiming to provide “integrated healthcare with one touch.” Moreover, Bupa Arabia’s Tebtom program provides various innovative healthcare services such as home vaccination for children, doctor’s consultation (Bupa Doctor), telemedicine and others, while the Rahatkom provides an integrated healthcare experience for members, from the moment they enter the hospital and throughout their time there.

Aspiring work environment

Bupa Arabia’s achievements and awards not only recognize its excellence in insurance but also in human resources, as it was named the “Best Employer” in the Middle East by the CIPD as well as won in the “Best Employee Engagement Initiative” category.

In addition, at the Gulf Sustainability Awards, Bupa Arabia won the “Best Practices in the Workplace and Human Resources” award, while at the Global Brand Awards, it won the “Best Mobile Insurance App 2021” award for its innovative Bupa Arabia app.

In the same vein, Bupa Arabia won an award at the LinkedIn Talent Awards MENA. The awards, which are given out by LinkedIn, a global network specializing in professional communication, see intense competition among a wide range of companies, institutions and recruitment destinations in the region.

Nazer said that Bupa’s continuous achievements are due to its dedicated team members. “The COVID-19 pandemic has not affected our performance, thanks to the continuous efforts of the team that deserves gratitude and appreciation, and we look forward to continue developing our services, so that we always remain at the forefront,” he said.

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