Category Archives: Business

Inc. 5000 Agency Founder Ric Militi Launches Leadership Series Inspired by InnoVision’s Internal Success Framework 

Red Hat Launches New Developer Tools for Agentic AI

New Delhi, Delhi, India May 13: Red Hat, the world’s leading provider of open-source solutions, today announced expanded capabilities across its developer portfolio specifically built for the requirements of AI agents. Through the newly-available Red Hat Desktop and enhancements to Red Hat Advanced Developer Suite, Red Hat intends to smooth the transition from agents running locally on developer workstations to production-scale deployments across the hybrid cloud. 

Euro Pratik Sales Delivers Strong Q4FY26 Performance; PAT Rises 50 percent YoY to ₹21.5 Cr on Robust Demand and Strategic Expansion

Mumbai, May 13: Euro Pratik Sales Ltd, one of India’s leading decorative surface and wall panel companies, announced its financial results for the quarter and year ended 31st March 2026, reporting strong growth across key financial metrics driven by product innovation, expanding market presence, and operational efficiencies.

FY26 marked another milestone year for the company with healthy revenue growth, strong profitability, strategic regional expansion, and continued strengthening of its product portfolio. Euro Pratik continues to consolidate its leadership position in the organized decorative wall panel and laminates segment through its design-led offerings, robust distribution network, and asset-light business model.

KEY BUSINESS & STRATEGIC UPDATES

• Successfully integrated URO Veneer World, strengthening the company’s footprint in South India
• Acquired Chawla Brothers in April 2026, further expanding presence in North India
• Continued product innovation with launches such as Canfor 2 and Chisel 2026 series catering to evolving consumer preferences
• Introduced new textures including Stonite, PolyASSA, and Lamart, reinforcing Euro Pratik’s positioning as a design-forward surface solutions brand
• Continued to operate with a debt-free balance sheet supported by strong internal accruals

KEY FINANCIAL HIGHLIGHTS FOR FY26

• Revenue from Operations stood at ₹334.0 Cr+, growing 18% YoY
• Profit After Tax stood at ₹77.2 Cr
• Maintained strong operational and financial discipline
• Continued investments in innovation, distribution expansion, and market development

KEY FINANCIAL HIGHLIGHTS FOR Q4 FY26

• Revenue from Operations stood at ₹93.5 Cr, up 28% YoY
• EBITDA stood at ₹26.7 Cr, up 37% YoY
• EBITDA Margin improved to 27.3% from 25.5% in Q4 FY25
• Profit After Tax stood at ₹21.5 Cr, up 49.5% YoY
• PAT Margin expanded to 23.0% from 19.7% in Q4 FY25

Mr. Pratik Singhvi, Chairman & Managing Director said, “In Q4 FY26, our revenue grew by 28% year-on-year to ₹93.5 crore, while EBITDA increased by 37% year-on-year to ₹26.7 crore. Profit after tax rose by 49.5% year-on-year to ₹21.5 crore. Despite a majority of our products being crude-based, the company successfully navigated currency volatility, rising freight costs, and logistical challenges during the quarter.

Our product innovation engine remains active, with recent launches such as Canfor 2 and the Chisel 2026 series catering to evolving aesthetic preferences at accessible price points. We have also introduced Stonite, PolyASSA, and Lamart textures, further strengthening Euro Pratik’s positioning as a design-forward surface solutions brand.

Following the successful integration of URO Veneer World in South India, the acquisition of Chawla Brothers in April 2026 has further strengthened Euro Pratik’s presence in North India. Backed by a debt-free balance sheet and healthy internal accruals, the company remains well-positioned for future growth opportunities.”

The company also maintained a strong financial position with a debt-free balance sheet backed by healthy internal accruals. On the global front, Euro Pratik expanded its international presence with subsidiaries in the U.S., UAE and Europe.

With continued investments in innovation, distribution expansion and market development, the company remains optimistic about sustaining its growth momentum in the coming years.

AD Ports Group Delivers 41% YoY Net Profit Growth to AED 653 Million in Q1 2026; Best Quarterly Profits on Record

Abu Dhabi, UAE – May 13: AD Ports Group (ADX: ADPORTS), a leading global enabler of integrated trade, industry, and logistics solutions, today reported strong revenue and net profit performance in the first quarter of 2026, demonstrating the resilience of its diversified and integrated trade ecosystem amidst the challenging and complex geopolitical and macroeconomic backdrop.

From a service offering and geographic perspective, AD Ports Group’s diversified operations, and vertically integrated business model based on long-term partnerships and contracts, focused strategy, and operational flexibility, have proven once again to be effective in turning risks into differentiated opportunities. Throughout the obvious challenges posed by the geopolitical situation in the Arabian Gulf, the Group has been able to maintain uninterrupted services, operating normally with precautionary business continuity protocols activated.

Continuity measures include the rerouting of cargo operations and feeder services to Fujairah Terminals and Khorfakkan Port, and deployment of new land and air bridges, complemented by additional warehousing and storage facilities. AD Ports Group launched new regional feeder shipping services to maintain supply chain integrity, redeploying and scaling up its container and bulk cargo vessels fleet, with plans to further increase fleet capacity. The new services connect with ports in India, Pakistan and Oman, as well as Red Sea ports, and ports along the Upper Arabian Gulf region.

The Group also established a land bridge to transport cargo from Fujairah and Khorfakkan through bonded customs corridors across the UAE to Khalifa Port, Jebel Ali Port, and Sharjah, using 800 trucks and four new daily rail services by Etihad Rail. These efforts were supported by the Group’s expanded warehousing and storage capacity for essential goods, currently exceeding 76,000 m2, with plans to more than double to 188,000 m2.

Leveraging its award-winning digital trade infrastructure, the Group also launched new freight management platforms that delivered visibility and resilience, enabling the efficient management of trade flows. By unifying and processing data across the Group’s global operations, these platforms have enabled the Group to act on real-time trade lane intelligence to strengthen supply chain integrity, whilst repurposing empty import containers for export along alternative high-volume corridors, which enhanced resilience and reduced time and cost for customers.

In Maritime & Shipping, the strong performance was a combination of volume and price effects, notably in container feeders, Ro-Ro, and tankers, as well as increased drydocking activities. Container feeder shipping volumes rose 20% YoY to 871K TEUs in Q1 2026, driven by increased services and capacity, whilst the bulk, multipurpose, and Ro-Ro vessel fleet reached 63, up from 41 in the same period a year earlier.

In the Economic Cities & Free Zones Cluster, growth momentum continued with 843,000 m2 (net) new industrial land leases in KEZAD Abu Dhabi, generating strong demand for warehouses, staff accommodation, and utilities provision. KEZAD also completed the sale of a group of warehouses to MAIR Group for AED 295 million and sold a 1.0 km2 mixed-use land plot to Danube Properties for AED 840 million, as part of the Group’s strategy to actively manage its asset portfolio across all business Clusters, and monetise real estate and non-core assets, when opportune.  

In the Ports Cluster, UAE operations remained resilient in the face of challenging regional events, with quarterly container throughput declining 5% YoY and general cargo volumes dropping 23% YoY, which were largely offset by strong growth internationally of 17% YoY and 21% YoY, respectively. In the UAE, container capacity utilisation stood at 54% (57% at Khalifa Port), whilst internationally it reached 65%, up from 58% in Q1 2025.

In Logistics, the global freight environment remains challenging, with rising operational costs, and in the UAE quarterly polymer volumes declined 6% YoY as a result of the regional situation.

In Q1 2026, AD Ports Group continued expanding internationally with a trade corridor and region-focused strategy. The Middle East, Central Asia, Pakistan, Egypt, Sub-Saharan Africa, and Mediterranean regions remained in focus, as the Group continued to build operational scale and long-term partnerships. A 30-year concession was secured for a brownfield multipurpose port in Aqaba, Jordan, and a 30-year concession was signed for a new greenfield dry bulk terminal at Douala Port in Cameroon. In parallel, the Group has continued to interconnect its 38 port terminals with associated maritime and logistics services, increasing synergies and enhancing asset utilisation.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said: “Faced with rapidly evolving regional developments with global macroeconomic and supply chain implications, AD Ports Group responded decisively in Q1 2026, demonstrating the agility, resilience, and forward-thinking that have underpinned our strong growth over the past two decades. Our Q1 performance was robust, with Group Revenue and Net Profit delivering strong double-digit year-on-year growth of 25% and 41%, respectively. We acted swiftly to mitigate disruption, elevating the ports in Fujairah and Khorfakkan as alternative gateways for the country and the region, launching contingency feeder shipping services, expanding warehousing capacity, and activating integrated land, rail, and air bridges that will sustain our growth into Q2 and beyond. Under the guidance of our wise leadership in the UAE, AD Ports Group will continue to anticipate and adapt to global developments, further strengthening the resilience of our UAE-based global supply chain network, while delivering sustained value creation and growth for our shareholders.”

In its Balance Sheet, AD Ports Group’s debt leverage continued to improve, with a Net Leverage of 3.9x, vs. 4.1x in Q1 2025, and 4.0x in Q4 2025.

Despite a low cash conversion ratio of 62%, Cash Flows from Operations reached AED 943 million in Q1 2026, +30% YoY, on steady growth in operating profit from core operations, and AED 74 million from the asset monetisation programme under a two-year payment plan for the sale of warehouses to MAIR Group.

With quarterly organic CapEx of AED 1.35 billion, the Group generated slightly negative Free Cash Flow to the Firm (FCFF) of AED 348 million but maintains annual guidance of positive FCFF going forward, subject to the evolving regional situation.    

Q1 2026 Financial KPIs

1)EBITDA is calculated by taking net profit and adding depreciation and amortization, finance costs, income tax expense, impairment of investment properties and subtracting government grants, fair value gain on pre-existing interest in a joint venture and finance income.

2)Based on the weighted average number of shares for the period.

Key Developments in Q1 2026

Ports Cluster 

·Joined Africa Ports Development’s (APD) 30-year concession to design, build and operate a new dry bulk terminal at the Port of Douala in the Republic of Cameroon. The agreement establishes an investment structure, under which AD Ports Group together with two other UAE investors own 60% of the operating company, alongside ADP’s 40% ownership, implying an effective economic interest of 51% for AD Ports Group.

·Signed a 30-year concession agreement with Aqaba Development Corporation (ADC) to operate the brownfield Aqaba Multipurpose Port, Jordan’s only and exclusive general cargo and multipurpose seaport. The concession was secured through a JV with AD Ports Group holding 70% ownership and ADC 30%.

·Secured a USD 115 million project finance facility led by the International Finance Corporation (IFC) and National Bank of Kuwait-Egypt (NBK) to support the development of the Noatum Ports Safaga Terminal in Egypt.

Economic Cities & Free Zones Cluster

·Signed a 50-year land lease with Galadari Brothers’ heavy equipment division to establish a AED 75 million facility in KEZAD A (Al Ma’mourah). The 150,000 m2 facility will be used for storage and distribution of heavy machinery and industrial equipment in the region.

·Sold a group of warehouses in KEZAD Logistics Park – KLP Free Zone 3 (FZ3) in Abu Dhabi to MAIR Group for AED 295 million.

·Launched the 450,000 m2 Metal Park, the world’s first pay-as-you-grow metals ecosystem in Abu Dhabi.

·Signed an AED 840 million land sale agreement with Danube Properties for a 1.0 km2 plot located within the 16 km2 KEZAD Town Centre for the development of a residential and mixed-use project.

·Signed a 50-year land lease with Jotun Abu Dhabi to establish a new 83,177 m2 manufacturing facility in ICAD – KEZAD Musaffah with an investment value of AED 450 million. Jotun Abu Dhabi is relocating from its existing 22,000 m2 facility.

Maritime & Shipping Cluster

• Safeen Drydocks, part of Noatum Maritime, acquired 100% ownership of Balenciaga Astilleros Shipyard, one of Spain’s most established and technologically advanced shipbuilding and repair facilities, for a total consideration of EUR 11.2 million.

Others

• Refinanced a USD 2.5 billion syndicated loan with two UAE banks, extending maturity to March 2029, and reducing future borrowing costs.

Key Developments Post Q1 2026

·Signed new land leases for five new projects in KEZAD Al Ain and KEZAD A (Al Ma’mourah), covering a total footprint of over 84,000 m2 and representing a total investment of AED 147 million. The projects are in the automotive (car cleaning products), metal, and logistics industries.

·Sold three warehouses in KEZAD Logistics Park (KLP) in Abu Dhabi to Aldar for AED 650 million.

·Signed a strategic partnership with Tawazun Council for Defence Enablement to develop Al Selmiyyah Defence Industrial Free Zone in Abu Dhabi. Al Selmiyyah will be developed as a zone dedicated to advancing defence manufacturing in the UAE. AD Ports Group will serve as a strategic partner and advisor for the zone, leading the master planning process, shaping land use and infrastructure planning, and providing industrial zone development expertise to support phased delivery, ecosystem integration, and connectivity to regional and global trade networks, in line with international best practices.

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Mahindra Insurance Brokers Limited partners with WebEngage to strengthen data led customer experience

Mumbai, May 13 : Mahindra Insurance Brokers Limited (MIBL), one of India’s leading insurance broking companies, has entered into a strategic partnership with WebEngage, a leading SaaS provider of Customer Data Platform and engagement solutions, to strengthen customer experience through a unified, data-led approach. This initiative is expected to improve engagement outcomes and campaign effectiveness by enabling data-led orchestration across customer touch points.

The partnership is aimed at helping MIBL build a 360-degree customer view by consolidating interactions across D2C platforms, assisted sales journeys, and offline dealer-led touchpoints. This will enable the company to map complete customer journeys from offline renewals to digital self-serve purchases within a single system, supporting more consistent and relevant communication across the insurance lifecycle, including policy purchase, renewals and servicing.

As part of the collaboration, MIBL will use WebEngage’s platform to enable automated, policy-level communication, allowing timely and contextual updates and reminder journeys for every policy a customer holds. The unified view is also expected to support cross-sell and upsell opportunities across product categories, including extending motor insurance customers into health policies, while encouraging greater adoption of digital-first journeys.

Commenting on the partnership, Avlesh Singh – Co-founder & CEO, WebEngage, said,

“Insurance engagement today must move beyond transactional reminders to intelligent, lifecycle-driven conversations. Our partnership with Mahindra Insurance Brokers Limited brings together unified data, automation, and policy-level intelligence to create highly contextual customer journeys. By connecting assisted, offline, and digital touchpoints, we are enabling the organization to drive stronger engagement, provide cross-sell opportunities, and deliver meaningful value across the policyholder lifecycle. Having successfully driven impactful engagement transformations with brands such as Groww, Acko, Tata Motors, Eureka Forbes, CIPLA, Metro Brands, we are excited to collaborate with MIBL to build innovative, customer-centric insurance experiences at scale.”

Through this collaboration, MIBL is moving towards a single-view, omnichannel customer strategy. By combining unified data, automated orchestration, and policy-level intelligence, the organization is building a scalable foundation for lifecycle engagement, enabling stronger relationships, improved campaign effectiveness, and sustained growth in an increasingly digital-first insurance landscape.

MP Sahney Urges Corporate-Cooperative Collaboration to Boost Social Enterprises at CII Summit

New Delhi, May 13 : The corporate and cooperative sectors must team up to build social enterprises and unlock demand in rural India, Rajya Sabha MP Dr. Vikramjit Singh Sahney said at the CII Annual Summit.

Known for his push on grassroots development, Dr. Sahney argued that corporates and cooperatives working together could reach the last mile in villages, spurring rural economies and creating sustainable livelihoods. “If we truly want to spur rural demand and bring inclusive growth, corporates and cooperatives cannot work in silos, they must collaborate to promote social enterprises,” he said. This kind of synergy, he added, would help bridge the stubborn urban-rural divide.

Dr. Sahney put a sharp focus on women-led groups. Women-led cooperatives, self-help groups (SHGs), and women-run enterprises have huge potential but often lack the backing they need, he said. They should get greater institutional support to evolve into technology-enabled, professionally managed outfits, using digital payments, online procurement, and e-market platforms to boost their effectiveness and scale.

Cooperatives need to get more transparent with professional leadership, regular audits, autonomy, and independent boards. The newly enacted Multi-State Cooperative Societies Act gives them the legal tools to do just that, allowing real independence while keeping accountability in check.

The session, chaired by Sh. Suresh Prabhu, former Union Commerce Minister and India’s ex-G20 Sherpa, drew nods from industry leaders and policy makers.

They agreed cooperatives are an underused lever for inclusive growth. Dr. Sahney’s ideas line up with the Prime Minister Narendra Modi’s vision of ‘sahakar se samriddhi’ (prosperity through cooperation) push, which fits with the bigger discussions happening about improving rural areas and starting social projects, especially as more money is now being spent in the countryside.”

Apollo Hospitals Brings Advanced Super Speciality Care to the Heart of Mumbai with New Centre in Dadar

Mumbai, May 13: Apollo Hospitals has launched its Super Speciality Center in Dadar, bringing advanced medical care to the heart of Mumbai. The Centre offers super–speciality services across Cardiology, Neurology, Oncology, Gastroenterology, Orthopaedics, Transplantation, and Pulmonology, supported by comprehensive diagnostics, robotics-enabled care, and 24×7 clinical access. All services are delivered by experienced Apollo clinicians, each with over a decade of expertise, operating within Apollo‘s established clinical ecosystem. The launch was graced by Mr Arunesh Punetha, Regional CEO – Western Region, along with Apollo’s experts: Dr Anil D’Cruz (Director Oncology and Sr Head and Neck Oncology Surgeon), Dr Deepak Gautam (Sr Consultant Orthopaedic & Robotic Joint Replacement Surgeon), Dr Dipalee Borade (Consultant Radiation Oncology), Dr Jyoti Bajpai (Lead Consultant, Medical and Precision Oncology), Dr Sumeet Pawar (Consultant Spine & Neurosurgeon) along with other doctors and members of the community.

Apollo Hospitals Brings Advanced Super Speciality Care to the Heart of Mumbai with New Centre in Dadar

Nearly 8,000 patients from Mumbai travel to Apollo Hospitals Navi Mumbai every year for advanced care, many of them making that journey repeatedly through the course of treatment. As Apollo Navi Mumbai approaches its 10th anniversary this November, the new Dadar centre represents the next chapter in our journey, bringing the same trusted clinical expertise and continuity of care closer to patients and their families in the heart of the city.

Dr Anil D’Cruz said: “At Apollo, we believe advanced healthcare should not only be world-class, but also easier to access consistently. Over the years, thousands of patients from Mumbai have travelled to Navi Mumbai for specialised treatment, often multiple times during the course of care. The launch of our Dadar Centre reflects our commitment to reducing that burden and ensuring patients can access Apollo’s trusted specialists, advanced diagnostics, and integrated care pathways closer to home. This is not just an expansion of infrastructure, but an expansion of patient-centric care.”

hubergroup Chemicals showcases advanced solutions for coatings and inks at Paintistanbul 2026

Researchers Measure Energy Below a Zeptojoule – Enough for a Red Blood Cell to Move a Nanometer

The fundamentals of quantum mechanics are miniscule. Scientists constantly home in on finer resolutions to measure, quantify, and control these fundamentals like photons that carry light and have no mass unless they are moving. The more precise the measurement, the more possibilities for better quantum technology or the ability to detect elusive dark-matter axions in deep space.

Now, researchers in Finland have successfully used a calorimeter, a type of ultra-sensitive heat-based energy sensor, to detect energy levels below one zeptojoule, or a trillionth of a billionth of a joule. For context, a zeptojoule is approximately the amount of work it takes for a red blood cell to move a nanometre, or a billionth of a metre, upwards in Earth’s gravity.

The team, led by Academy Professor Mikko Möttönen at Aalto University, together with an industry collaborator IQM and the Technical Research Centre of Finland (VTT), used a novel technique to achieve the milestone measurement. 

The study was published on May 12th in the journal Nature Electronics.

Unparalleled energy sensitivity

At such a miniscule scale, measuring is far more complex than just firing a beam and seeing the results pop up. The team shot a microwave pulse into a sensor that they had built from two different kinds of metals: superconductors, where the pulse traveled freely, and regular conductors, which put up resistance. 

‘That combination of metals makes superconductivity such a fragile phenomenon that it weakens immediately if the temperature in the ultracold conductor rises even a little bit. This makes it such a sensitive setup,’ says Möttönen, who is also a founder of the quantum computer unicorn IQM. 

After optimized filtering, the team read out the final result. It showed their setup had detected an electromagnetic pulse so minute it beggars belief: only 0.83 zeptojoules, or less than a trillionth of a billionth of a joule. The result is a world-first for calorimetric measurement devices which are considered some of the most sensitive in the field.

Qubits and axions

The study paves the way to counting individual photons. According to Möttönen, such sensitivity is a long-sought goal not just in quantum technology but fields like astrophysics.

“We want to make this setup capable of measuring input that has an arbitrary time of arrival, which is important for things like detecting dark-matter axions in space when you have no idea when they might reach your system.’

Möttönen envisions that their calorimeter could be integrated into a variety of measurement setups due to a key advantage. 

‘A calorimeter operates in the same millikelvin temperatures that qubits require. This introduces less disturbance into the system as we don’t have to bring the device to a high temperature or amplify the qubit measurement signal to get a result. In the future, our device could be a component for reading out qubits in quantum computers, for example.’

The team used the facilities of OtaNano, Finland’s national research infrastructure for nano-, micro- and quantum technologies. This result mainly stems from the Future Makers project funded by the Jane and Aatos Erkko Foundation and the Technology Industries of Finland Centennial Foundation.

Cityflo appeal statement on shared mobility supporting PM’s address to the nation

New Delhi, May 12: “Hon’ble Prime Minister Shri Narendra Modi’s appeal to shift to public transport comes at a critical inflection point for India’s urban mobility sector, one shaped as much by geopolitical pressure as by long-term climate commitments.

At Cityflo, shared urban transport has been our operating thesis since inception. Every commuter who moves from their car seat to Cityflo saves 1.8 litres of fuel per trip. In the last year alone, our commuters collectively avoided 75 lakh litres of fuel by making that switch, which is a figure that only scales with the right policy environment behind it.

India has immense ridership density and is making rapid progress on urban infrastructure. If the Prime Minister’s appeal signals a broader shift in that direction, the sector is positioned to respond.” said, Jerin Venad, CEO &Co-founder, Cityflo.