Category Archives: Business

India Launches Strategic Documents for Bharat Innovates Ahead of Global Showcase in France

New Delhi: The Government of India has launched the strategic documents for Bharat Innovates, a flagship initiative aimed at showcasing India’s growing innovation and technology capabilities on the global stage. The launch took place in the presence of Ajay Kumar Sood and senior officials from the Ministry of Education, ahead of the initiative’s international showcase in Nice.

Bharat Innovates seeks to strengthen collaboration among academic institutions, industry leaders, startups, and researchers to develop affordable, high-quality, and accessible solutions to challenges faced by both India and the global community. The initiative is designed to foster sustained engagement across the innovation ecosystem and accelerate the translation of research into impactful technologies.

Officials highlighted that the initiative reflects India’s emergence as a global innovation hub and demonstrates the country’s commitment to advancing science, technology, and entrepreneurship. The strong international interest and commitments received for the programme have further reinforced global confidence in India’s research ecosystem and the ingenuity of its young innovators.

The initiative draws inspiration from the vision of Prime Minister Narendra Modi, whose focus on innovation-driven development and youth empowerment has helped shape India’s rapidly expanding startup and technology landscape.

The government also acknowledged the support of President Emmanuel Macron and the Government of France in strengthening India-France cooperation in innovation and technology for the benefit of global society.

Emphasizing the growing international recognition of India’s innovation ecosystem, officials expressed confidence that the country’s young innovators will continue to develop solutions to address humanity’s shared challenges and contribute meaningfully to global progress.

The global showcase of Bharat Innovates in Nice is expected to provide a platform for Indian startups, researchers, and innovators to present cutting-edge solutions and deepen international partnerships in emerging technologies.

RAKEZ earns 3 prestigious Stevie Awards for innovation and customer experience excellence

Ras Al Khaimah, June 12: Ras Al Khaimah Economic Zone (RAKEZ) has secured three distinguished accolades at the 2026 Middle East & North Africa Stevie® Awards, recognising its commitment to innovation, operational excellence, and delivering an exceptional client experience.

The awards recognise the achievements of the RAKEZ Customer Experience team and its pioneering Smart Licensing model, which has transformed the post-licensing journey for businesses through a digital-first, transparent, and customer-centric approach. The initiative received both the Award for Excellence in Innovation in Business Product & Service Industries and the Award for Innovative Management in Government. In addition, Fatemah Fakhraldeen, Licensing Operations Manager at RAKEZ, was recognised as Most Innovative Operations Leader of the Year for her role in advancing the initiative and helping simplify post-licence services through digital innovation and process enhancement.

Commenting on the achievement, RAKEZ Group CEO Ramy Jallad, said: “At RAKEZ, innovation is driven by the simple objective of creating better experiences and outcomes for our business community. These awards recognise the progress we have made in transforming our services through smarter processes, digital solutions, and a client-first mindset. As the needs of businesses continue to evolve, we will remain focused on delivering services that are efficient, accessible, and designed to help companies expand and achieve more growth from Ras Al Khaimah.”

The award-winning Smart Licensing model was designed to simplify and modernise post-license services by creating a seamless digital experience for clients, business agents, and internal teams. The initiative introduced a comprehensive digital framework that streamlines processes, improves visibility, and enhances service delivery across key licensing and immigration-related transactions.

The transformation has delivered measurable results, including faster processing times, higher customer satisfaction levels, greater automation of routine services, and increased operational efficiency. By reducing manual intervention and introducing intelligent digital workflows, the model has enabled RAKEZ to provide a more responsive and convenient experience for its growing business community.

The Middle East & North Africa Stevie Awards is one of the region’s leading business awards programmes, recognising innovation in all its forms with a strong focus on customer experience, organisational excellence, and business performance. The 2026 edition attracted more than 1,400 entries from organisations and individuals across 18 countries in the MENA region.

The three awards underscore RAKEZ’s continued focus on leveraging innovation to enhance service delivery, strengthen operational excellence, and create greater value for the thousands of businesses that choose Ras Al Khaimah as a base for growth and expansion.

JW Marriott Goa Appoints Akshay Shetty as Director of Sales & Marketing

Goa June 12: JW Marriott Goa is pleased to announce the appointment of Akshay Shetty as Director of Sales and Marketing.  Akshay brings over 14 years of rich experience in the realm of Business Development and Sales and Marketing within the luxury sector and hospitality industry.  He now leads the dynamic sales team of JW Marriott Goa, creating and overseeing revenue plans and achieving targets.  

Bringing a strong sales acumen and a result-driven approach to luxury hospitality, Akshay has been associated with leading brands in Indian and International hotel chains, where he has successfully helmed the sales and business development teams, sustained revenue growth and market share leadership within their respective competitive sets. His key focus areas include revenue management, reservation sales, room sales and expansion of sales reach to key feeder markets in India spanning diverse segments such as corporate, MICE, leisure, weddings and travel trade.  In addition, his past experience also includes roles in the front office department allowing him a deeper understanding into the operational aspect of the hotel industry.

His most recent appointment was at JW Marriott Mumbai Juhu, where he spearheaded a high-performing sales team and played a pivotal role in elevating the hotel’s group rooms and catering portfolio. Renowned for his strategic foresight and market-driven approach, he consistently delivered exceptional commercial performance while cultivating enduring relationships within the luxury hospitality landscape.

At JW Marriott Goa, Akshay will oversee the hotel’s Sales & Marketing function, focusing on driving revenue performance, strengthening brand positioning and unlocking new growth opportunities across key segments. He will also play a pivotal role in enhancing market visibility and aligning sales strategies with the brand’s luxury positioning.

Akshay holds a Bachelor’s degree in Hotel Management from Mangalore University and is the recipient of distinguished industry accolades, including the BW Hotelier Sales Leader of the Year – West Zone in 2024 and Marriott International’s prestigious President’s Circle APEC Top Performer Award in 2024 and 2025, an accolade that sets him apart from the regular.

Known for his dynamic leadership and strategic vision in hospitality, Akshay brings a deep passion for guest experiences and luxury service excellence. Beyond his professional achievements, he is a devoted husband and father who enjoys travelling and immersing himself in diverse cultures around the world.

Workforce Solutions Major Tryfacta Files for GIFT City IPO, Set to Become First US-Headquartered Company to List in India

Tryfacta, Inc. (“Tryfacta”), an artificial intelligence (“AI”)-enabled provider of specialized workforce and technology solutions serving Federal government and State, Local and Education (“SLED”) government agencies across the United States, has filed its Draft Offer Document (DOD) with the International Financial Services Centres Authority (IFSCA) for its proposed initial public offering (IPO) on the exchanges at GIFT City, Gujarat.

Upon listing, Tryfacta is expected to become the first US-headquartered (foreign) company to list its equity shares in India through the GIFT City framework.

The proposed IPO comprises a fresh issue of up to 13.3 million equity shares and an offer for sale of up to 3.0 million equity shares by selling shareholder Ratika Tyagi. The issue will be denominated in US dollars, and the equity shares are proposed to be listed on NSE IFSC Limited (NSE IX) and India International Exchange (India INX).

As per Regulation 25(1) of the IFSCA (Listing) Regulations, 2024, allotment to investors shall be on a proportionate or discretionary basis as decided by the company in consultation with the Book Running Lead Manager and disclosed in the offer document.

As set out in the offer document, the company intends to use the net proceeds of the fresh issue towards repayment and/or pre-payment, in full or in part, of working capital facilities; to fund inorganic growth through acquisitions and other strategic investments; and for general corporate purposes.

Founded in 1996 and headquartered in Dublin, California, Tryfacta, Inc. is led by Ratika and Adesh Tyagi and has evolved from a niche Healthcare, IT and commercial staffing and services firm into a comprehensive workforce-solutions provider with services ranging from recruitment to payroll management across healthcare, information technology, administrative and professional-services segments.

Its business is supported by a technology-led operating model that leverages AI-powered recruitment tools, automated candidate screening, digital onboarding and workforce-management platforms.

While Tryfacta’s primary focus is across Federal and SLED programs, it also offers temporary-to-permanent staffing and direct placements; payroll services covering compliance, benefits administration and wage processing for contractual employees; executive hiring and leadership recruitment; and managed services, enabling clients to access both contingent and on-roll talent pools. Its first SLED contract was awarded in 2017.

The company’s client contracts reflect both recurring demand and long-term relationships. As of December 31, 2025, nearly 47% of its contracts had a tenure of 5–10 years, 38% between 2–5 years, 8% of two years or less, and the balance of about 6% over 10 years. Recent awards include work for a Texas political subdivision and medical support and services for a Federal agency.

In Fiscal 2024 and Fiscal 2025, it served 70 and 105 clients, respectively, across Federal and SLED government projects, deploying a contractual workforce of 3,960 and 2,591 professionals in those years.

As of December 31, 2025, it maintained a large database of experienced candidates and had been awarded contracts for the supply of staffing solutions and professional services by over 220 Federal and SLED clients across 41 states in the US.

The company operates through a diversified delivery model supported by a team of recruiters, delivery managers and account managers. It has also established a Global Capability Centre (GCC) in Mohali, India, supporting recruitment operations, technology development, pre-sales and account-management functions. Through its subsidiary Tryfacta Global IFSC Private Limited — an IFSC unit registered as a BATF service provider under the IFSCA (Book-keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations, 2024 — the company plans to expand its international service offerings from GIFT City.

In March 2026, Tryfacta was awarded two task orders with an aggregate value exceeding USD 62 million under a medical-services contract vehicle administered by a U.S. Department of War (DoW), formerly the U.S. Department of Defense (DoD), supporting U.S. Army installations in Texas.

Its net revenue improved from USD 37.0 million in Fiscal 2023 to USD 50.5 million in Fiscal 2025, a CAGR of 16.76%, with the majority derived from SLED contracts. Gross profit grew from USD 4.9 million to USD 6.6 million over the same period.

According to the 1Lattice industry report cited in its offer document, the US workforce-solutions market grew from USD 135.4 billion in 2019 to USD 177.2 billion in 2025 and is projected to reach USD 224.5 billion by 2030, an annual growth rate of about 4.8% during 2025–2030, driven by rising federal investments across defense, cybersecurity, healthcare and digital-modernization programs.

While growth in government staff compensation has moderated in recent years, overall SLED spending continues to expand, indicating a shift in spending composition rather than a reduction in total public-sector expenditure. As a result, governments often rely more on contract staffing, workforce augmentation and outsourced digital services to maintain service delivery without increasing permanent headcount.

Edibles.com Names Thomas Winstanley President to Drive Next Phase of Growth

Atlanta June 12: Edibles.com™, a first-of-its-kind, wellness-driven online e-commerce marketplace platform delivering the nation’s leading THC and wellness brands to consumers, announced that Thomas Winstanley has been promoted from Executive Vice President and General Manager to President of Edibles.com™, reporting directly to Edible Brands® Chief Executive Officer Somia Farid Silber.

Winstanley brings deep experience across regulated consumer industries, with expertise spanning cannabis, consumer packaged goods, pharmaceuticals, and alcohol. Prior to joining Edibles.com, he served as Chief Marketing Officer at Theory Wellness, where he helped grow one of the largest independent, vertically integrated cannabis companies on the East Coast. Since joining Edibles.com, Thomas has transformed the business into a nationwide leader in the emerging hemp category.

“Thomas has been an incredible partner in building Edibles.com into what it is today, and this promotion reflects the confidence we have in continuing to grow the enterprise,” said CEO Somia Farid Silber. “He brings deep category expertise and the kind of entrepreneurial mindset we value across this organization. We are at a point where consumer interest in hemp-derived THC and functional wellness is growing quickly, and we want to make sure we have the right leader in place to meet that moment. Thomas is that person.”

Since joining Edibles.com as Executive Vice President and General Manager, Winstanley has led the launch, strategy, and infrastructure development of the business, helping establish Edibles.com as a trusted nationwide marketplace focused on high-quality hemp-derived THC products and modern wellness experiences. In his expanded role as President, Winstanley will oversee the companywide vision and strategic direction for Edibles.com, including corporate governance, organizational alignment, and long-term growth initiatives and profit centers. He will continue overseeing sales, operations, marketing, retail, and government relations to ensure cohesive execution and expansion across the portfolio.

“The opportunity in front of us is significant, and we intend to lead it, regardless of headwinds. Consumers are increasingly looking for approachable, trustworthy ways to integrate functional wellness into their daily lives, and hemp-derived THC is becoming a meaningful part of that conversation,” said Edibles.com President Thomas Winstanely. “What we are building at Edibles.com is a platform that meets consumers where they are with education, transparency, and products that actually work. This is not a category you can build overnight, and we have no intention of doing so. We are building something durable that can positively impact consumers’ well-being.”

His promotion comes as consumer demand for functional wellness products and hemp-derived THC alternatives continues to accelerate nationwide. According to Grand View Research, the U.S. nutraceuticals market was valued at $163.7 billion in 2024 and is projected to grow at a CAGR of 6.2% through 2030, fueled by rising consumer interest in natural solutions supporting sleep, relaxation, mood, and recovery. At the same time, the hemp-derived cannabinoid market is rapidly expanding as consumers increasingly seek approachable, federally legal THC products that fit into modern wellness routines. Edibles.com is positioned at the intersection of two of the fastest-growing consumer wellness categories.

Veefin Appoints Riddhi Dutta As Chief Revenue Officer To Accelerate Global Growth

Mumbai, India  June 12: Veefin Solutions Limited, a global leader in banking, lending and working capital technology solutions, today announced the appointment of Riddhi Dutta as Chief Revenue Officer (CRO). 

As CRO, Riddhi will be responsible for driving Veefin’s global revenue strategy, accelerating growth across international markets, leading the company’s sales and marketing functions, strengthening strategic customer relationships, expanding the partner ecosystem, and scaling Veefin’s go-tomarket organisation worldwide. 

Riddhi brings over two decades of experience in enterprise technology, digital banking, and financial services transformation. Over the course of his career, he has led commercial, growth, and transformation initiatives across global banking technology organisations, working closely with financial institutions across Asia-Pacific, India, and the Middle East. He has helped banks modernise customer experiences, digitise operations, and accelerate business growth while building and scaling high-performing teams across multiple markets. 

Prior to joining Veefin, Riddhi spent more than seven years at Backbase, where he played a pivotal role in establishing and scaling the company’s business across Asia-Pacific. During his tenure, he led teams responsible for delivering 10x business growth, built and scaled a high-performing go-tomarket organisation, and managed relationships with some of the region’s largest and most innovative financial institutions. His leadership helped strengthen Backbase’s position as a leading digital banking platform provider across key markets in the region. 

The appointment reflects Veefin’s commitment to accelerating global growth and strengthening its commercial leadership as the company expands its presence across international banking markets. As financial institutions worldwide continue to invest in digital transformation, lending modernisation, and embedded financial services, Veefin is focused on scaling its global business, deepening engagement with customers and partners, and reinforcing its position as a leading provider of banking and lending technology solutions. 

Leadership Statements

Raja Debnath, Co-founder and Managing Director, Veefin Solutions Limited, said: “As Veefin enters its next phase of global growth, building a world-class commercial organisation is a strategic priority. Riddhi brings deep industry expertise, strong customer relationships, and a proven track record of scaling technology businesses across international markets. His experience in driving sustained growth and building high-performing teams will be instrumental as we continue to expand our global presence and strengthen our leadership position in banking technology.” 

Riddhi Dutta, Chief Revenue Officer, Veefin Solutions Limited, said: “Veefin has built an exceptional platform and product portfolio that addresses some of the most critical challenges faced by financial institutions globally. I am excited to join the company at such an important stage in its journey and look forward to working closely with customers, partners, and colleagues worldwide to accelerate growth, strengthen market leadership, and create long-term value for all stakeholders.”

Australia’s Wage Hike, AI Adoption Set to Reshape Offshore Operations in Malaysia: MABC

Kuala Lumpur/New Delhi, June 12, 2026: Australia’s latest minimum wage increase could accelerate the shift of business operations to lower-cost markets such as Malaysia, while also driving greater adoption of artificial intelligence (AI) across industries, according to an analysis by the Chairman of the Malaysia Australia Business Council.

Australia’s Fair Work Commission announced a 4.75% increase in the national minimum wage as part of its 2026 Annual Wage Review, raising the weekly minimum wage to AUD 1,004.90 and the hourly rate to AUD 26.44. Entry-level workers will receive an effective increase of nearly 5.95%, alongside structural reforms designed to gradually raise the wage floor.

According to Loong Caesar, Chairman of the Malaysia Australia Business Council (MABC), the decision, while aimed at addressing domestic economic conditions, is likely to have broader implications for Australian businesses operating overseas, particularly in Malaysia.

The report notes that rising labour costs in Australia are widening the cost gap between developed and emerging markets. Malaysia, with its skilled English-speaking workforce, competitive wage structure and mature business ecosystem, remains an attractive destination for multinational companies seeking operational efficiencies.

As wage pressures continue to mount in Australia, sectors such as finance, human resources, information technology support and customer service are expected to see increased offshoring activity. These functions, which are highly scalable and sensitive to labour costs, could increasingly be relocated or expanded in Malaysia to achieve long-term savings.

Several Australian companies already maintain significant operations in Malaysia, including Telstra, Lynas Rare Earths, AirTrunk, NextDC, BlueScope, Cochlear, SEEK and Lendlease. For these firms, Malaysia has become an integral part of their regional and global operating strategies.

However, the report cautions that wage increases in Australia could also create pressure on Malaysian operations, particularly within multinational organizations seeking to maintain internal pay equity. Employees in Malaysia may increasingly expect compensation adjustments aligned with global salary benchmarks. Nevertheless, Malaysia’s overall cost advantage remains significant, supported by its skilled workforce and business-friendly environment.

The growing influence of AI is expected to further transform the equation. Rising wages are making automation more attractive for routine and process-driven tasks such as data entry, customer support, reporting and basic analytics. Rather than eliminating offshore operations altogether, AI is likely to augment them by automating repetitive work while increasing demand for higher-skilled roles.

The analysis suggests that AI could partially offset wage inflation by reducing dependence on labour-intensive processes. However, it also highlights the need for Malaysia to accelerate workforce upskilling initiatives to remain competitive as automation technologies become more widespread.

“The logic of labour arbitrage remains relevant and, if anything, is reinforced by rising wages at home. At the same time, AI is transforming how that arbitrage is realised, shifting the focus from simple cost savings to productivity through technology,” Caesar said.

Industry observers believe the combined impact of higher wage floors and rapid AI adoption could redefine the future of global business services, prompting companies to reassess the balance between offshore labour, automation and productivity-driven growth.

Luxury off-plan homes bring AED5 billion May sales

Keturah founder says Dubai shows its global standing with apartment, villa deals above AED 5 million

Dubai, UAE, June 12: Dubai’s luxury real estate market continued to attract strong investment in May, with developers recording almost AED5 billion in off-plan sales for homes priced above AED5 million.

A market analysis from the Keturah luxury brand today shows villa buyers accounted for AED2.51 billion across 184 transactions, while apartment sales reached AED2.45 billion from 207 deals.

The strongest villa activity came in the AED10-20 million bracket, where 60 transactions generated AED834.2 million in developer off-plan sales, with a further 23 deals worth AED746.3 million recorded in the AED20-50 million range.

Data from DXBinteract shows that apartment sales were concentrated in the AED5-10 million bracket, which accounted for 158 of the 207 transactions recorded during the month.

With a total of 391 apartment and villa sales amounting to AED4.96 billion, it means an average of 12 off-plan homes each worth more than AED5 million were sold every day of the month, at an average of AED12.7 million per property.

“This is the equivalent of almost 400 homes each worth more than £1 million in London, and $1.36 million in New York, being sold in a single month,” said Talal M. Al Gaddah, CEO and Founder of the Keturah luxury brand.

“It says a great deal about Dubai’s standing among the world’s leading real estate markets, and about the depth of confidence that continues to exist here.”

Added Al Gaddah: “This market has proven over many years that its resilience is structural rather than cyclical. When conditions become more challenging, that foundation holds, and serious capital continues to move.

“At the same time, the definition of luxury in real estate is evolving, as global investors focus more on wellness, liveability, environmental quality, privacy, and long-term residency potential.”

Keturah currently has two major residential developments under way in Dubai that sit directly within this market segment. Keturah Reserve is an AED5.7 billion bio-living community in Mohammed Bin Rashid City’s District 7. The Ritz-Carlton Residences at Keturah Resort is a wellness-certified waterfront community along Dubai Creek adjacent to the Ras Al Khor Wildlife Sanctuary.

“Both projects were conceived with exactly this shift in mind,” said Al Gaddah. “Buyers are now asking more of the developments they choose. They want to know how a home will actually serve them day to day, how it is built, what surrounds it, and whether it will hold its value over time.

“Developers who answer these questions honestly will earn long-term trust, and Dubai will attract long-term capital because the fundamentals are genuinely strong. The regulatory environment is transparent, the infrastructure is world-class, and the city is planned with genuine foresight.”

CRC Group to Fly Noida’s Top 75 Business Families on Historic First Commercial Flight to Noida International Airport

Noida, June 12: In a first-of-its-kind initiative, CRC Group is set to fly 75 of Noida’s  business families on the historic inaugural commercial flight from Lucknow to Noida International Airport on June 15, 2026.

The special journey holds historic significance as the Lucknow-Noida service is slated to become the first commercial passenger flight to land at Noida International Airport, marking the commencement of commercial operations at one of India’s most anticipated infrastructure projects. The inaugural flight from Lucknow will officially open passenger services at the airport before regular operations expand to other destinations.

Through this exclusive initiative, CRC Group aims to bring together some of the region’s most influential industrialists, entrepreneurs, investors, and business leaders to witness a landmark moment in Uttar Pradesh’s growth story. The gesture also underscores the rising prominence of Noida and the Yamuna Expressway corridor as a major hub for business, investment, and urban development.

The invited guests will get a firsthand experience of India’s newest international airport while gaining a closer perspective on the transformative role it is expected to play in enhancing regional connectivity, boosting trade and tourism, strengthening logistics infrastructure, and driving economic growth across Uttar Pradesh and the National Capital Region.

Widely regarded as a game-changing infrastructure asset, Noida International Airport is expected to catalyse fresh investments, create new economic opportunities, and further establish the Yamuna Expressway region as one of India’s fastest-growing growth corridors.

Salil Kumar, Director, Business Management & Marketing, CRC Group, said,

“We are extremely happy to witness Noida’s growth story reaching new heights. The commencement of operations at India’s largest airport will add another shining crown to Noida’s remarkable transformation journey. We believe the airport will significantly enhance the region’s attractiveness for Global Capability Centres (GCCs), manufacturing, technology, and several other industries, encouraging greater investments and accelerating economic growth across the region.”

ASUS strengthens after sales service network with the launch of a new Exclusive Service Centre in Mumbai

Mumbai, June 11: Reinforcing its commitment to delivering best in class customer support and strengthening its after sales service network across the country, ASUS India, Taiwanese technology leader, today announced the inauguration of a new ASUS Exclusive Service Centre in Mumbai. Located near Sakinaka Metro Station, the new facility is designed to provide comprehensive support for ASUS consumer product portfolios, ensuring a seamless service experience for customers in Mumbai and surrounding regions.

Spread across 800 sq. ft., the new service centre will offer support for a wide range of ASUS products, including Consumer Laptops, Gaming Laptops under the Republic of Gamers (ROG) and TUF Gaming portfolios, All in One PCs, Desktops, and Accessories. Equipped with spare parts inventory and experienced technical support professionals, the centre will provide both in-warranty and out of warranty service support.

The new service centre will cater to walk-in customers through a dedicated token management system and will also support onsite service requirements. Customers will additionally have access to Warranty Extension Package (WEP) offerings, further enhancing the overall ownership experience.

Talking about the expansion, Vishal Mhalsekar, National Service Manager, ASUS India, said, “At ASUS, delivering a reliable and seamless customer experience remains one of our key priorities. The inauguration of our new Exclusive Service Centre in Mumbai reflects our continued investment in strengthening our service infrastructure and bringing high quality support closer to our customers. As our user base continues to grow across consumer, gaming, and commercial segments, we remain focused on enhancing accessibility, reducing service turnaround times, and ensuring customers receive expert assistance whenever they need it.”

With over 210 service centres across India, including 10 service centres across Mumbai and suburban regions, ASUS continues to expand its service network to support its growing customer base and provide faster, more accessible after sales support nationwide.