Applications are now open in Oman for the Saudi Arabia, Oman and Bahrain edition of the 2024 Visa Everywhere Initiative (VEI), a global open innovation program and competition that sees fintech startups pitch their solutions to solve tomorrow’s payment and commerce challenges.In addition to equity-free funding, VEI winners gain access and exposure to Visa’s vast networks of partners in the banking, merchant, venture capital, and government sectors. The winners also benefit from receiving recognition from one of the world’s most trusted and valuable brands.With applications open until April 22nd , this year’s Saudi Arabia, Oman and Bahrain edition of VEI will see an in-person competition for finalists from all three countries in mid-June in Riyadh. The winner will progress to a virtual Central and Eastern Europe, Middle East, and Africa (CEMEA) competition on July 17th. The startup that wins at the CEMEA finale will participate in the global finale – competing against winners from Europe, Asia-Pacific, Latin America, and North America – at the TechCrunch Disrupt event in San Francisco on October 29th, 2024.For fintech participants in Oman, this year’s edition of VEI brings back the Impact Prize, which goes to a competitor who has innovated a solution that has a positive social impact on the communities it operates in. Examples include initiatives that boost financial inclusion, promote sustainability, or safeguard the environment. Last year, Saudi-based fintech Lamaa won the Impact Prize for providing SMBs with technological, financially inclusive embedded finance and payment solutions.This year’s edition also introduces the Fintech Innovating in Risk Excellence, or ‘FIIRE’ award which goes to innovative fintech specialized in fraud management, cybersecurity, and credit risk, among others.“The Visa Everywhere Initiative is a powerful platform that empowers and uplifts fintechs and entrepreneurs to showcase the most ground-breaking, impactful solutions solving tomorrow’s challenges in the world of payments and commerce. We are delighted to bring VEI back again for a second year to Oman,” said Manish Gautam, Visa’s Country Manager for Oman.“Fintechs have the potential to offer broad social benefits to the markets they operate in – particularly when it comes to providing financial services to those who have traditionally been underserved. At Visa, we believe access to the digital economy drives equitable, inclusive growth, and VEI is an important means of supporting the growth journey of fintechs in Oman – helping them take small but significant steps towards making an impact.”The program first launched in the US in 2015 and quickly expanded into a global program. To date, nearly 15,000 startups have participated, and have collectively raised over OMR18.4B ($48B USD) in funding. VEI 2023 saw Nigeria’s Drugstock take home the VEI global grand prize of OMR19,200 ($50,000 USD), as well as the Audience Favorite prize of OMR3,800 ($10,000 USD).

Oman: According to a study by Visa, a world leader in digital payments, 65% of Oman retailers merchants claimed increased revenue and higher customer footfall from accepting digital payments.The independent study, titled 'Value of Acceptance', explores merchants’ attitudes towards digital payments and the impact of digital commerce on small businesses and retailers in Oman.  The survey gathered insights from two groups of Oman-based merchants - those who have accepted digital payments for 1-4 years, and retailers who exclusively deal in cash transactions. The top five store types represented in the survey sample include quick service restaurants, mobile shops, cafes, beauty salons/barber shops, and fashion/shoe stores with sizes including nano (2 or less employees), micro (3-10 employees) and small (11-49 employees) businesses. According to the study, digital payments, and cash together account for over 95% of payments accepted among surveyed digital payment-accepting small businesses, with an equal proportion coming from both payment methods.Digital Payments: Business Growth DriverThe findings from Visa’s study show digital payment acceptance is an important driver in the growth of small businesses, with 54% of digital payment-accepting merchants claiming acceptance of payment through card and mobile wallets is an essential investment that significantly contributes to their business growth.  Seventy-eight percent (78%) of digital payments-accepting merchants would even recommend digital payments to cash-only merchants.Challenges with Cash Only Acceptance While cash is associated with convenience, wide acceptance and easy refunds, more than 20% of cash-only merchants have lost a transaction because the customer was not carrying cash. Beyond acceptance, managing cash also presents accounting challenges according to almost one-third (28%) of cash-only merchants (as well as 38% of merchants that accept digital payments).  As a result, 41% of cash-only merchants surveyed may or will invest soon in digital payment technology so they can begin to offer consumers a better payment experience. Forty percent (40%) of these merchants expect increased footfall and revenue after they start accepting digital payments.Manish Gautam, Visa’s Country Manager for Oman, said: “As Oman forges ahead with its digital commerce agenda, our 'Value of Acceptance' study underscores the transformative power of digital payments for Oman’s retail sector. There remains significant opportunity in Oman for digital commerce and we will continue to work with our local partners to support the government’s cashless agenda for the benefit of small businesses and the wider economy.”Gautam added: “Beyond the benefits of security, speed, and convenience, digital payments also provide invaluable data insights. With more consumers turning to digital payments, merchants can use data to tailor client communication with relevant offers, implement loyalty programs, and enhance the overall customer experience. This is vital information that can increase business profitability and efficiency.”Merchant Expectations of Digital Payment ProviderMerchants that already accept digital payments expect a range of value-added services from their digital payments provider to enhance their payment infrastructure and offerings for customers. The most frequently cited include: (i) more secure (74%), convenient (66%), and efficient (66%) B2B payments; and (ii) access to data for identifying and targeting customer groups (66%). Additionally, multi-currency processing (30%), mobile payment acceptance (like Visa’s Tap to Phone) (27%), and fraud detection and prevention (17%) were revealed as areas where payment providers can further add value to local businesses.

United Arab Emirates, Dubai: Al-Futtaim IKEA, the region’s leading Swedish home furnishing retailer, today unveiled a 30-meter-long community table to celebrate Dubai Design Week. Made out of used furniture that would otherwise go to the landfill, the table will be open for public use from November 7th to the 12th in Dubai Design District. Not only is the community table a bold piece of art, but it is also functional, well-designed and signifies Al-Futtaim IKEA’s unwavering dedication to the Year of Sustainability, Innovation and the path leading to COP28.Thoughtfully designed and curated by IKEA designers and co-created with Adimas Bayu, an illustrator and upcoming doodle artist, along with Grade 5 and Grade 6 students of the Universal American School, this initiative is a testament to the Swedish retailer’s vision of using only renewable or recycled materials to offer fresh solutions to customers, extending the lifespan of products and materials. The table has a story to tell. It aligns with the core themes of conserving energy, preserving water, reducing food waste, and safeguarding biodiversity.Al-Futtaim IKEA has a vision and ambition in the markets it operates in - the UAE, Qatar, Egypt and Oman; to inspire and enable more than 70 million people to live a better everyday life within the boundaries of the planet by 2025. It also aims to become a circular climate positive business by reducing more greenhouse gas (GHG) emissions than the IKEA value chain emits by 2030. Dubai Design Week served as an ideal platform to showcase the retailors vision. Aligning with the UAE’s sustainability vision, it seeks to educate and encourage people to make choices that lead to a better everyday life.Vinod Jayan, Managing Director of Al-Futtaim IKEA in UAE, Qatar, Oman and Egypt said, ‘At Al-Futtaim IKEA, sustainability is one of the most important pillars that sets the foundation for what we do. We’re on a mission to make sustainability accessible to all, ensuring that sustainable living is not a luxury but a choice everyone can afford. For example, by changing to IKEA LED bulbs, we save 80% energy as compared to conventional bulbs. By using IKEA showers and taps, we can save up to 40% water with the special inbuilt aerator.’The community table is a great example of raising awareness among consumers on the importance of sustainability and the role they can play in contributing towards a circular economy. It encourages consumers to think about the life cycle of products and the value of reusing and recycling materials.‘As we craft this community table, IKEA's mission is crystal clear: we're championing Circularity. Our approach for designing and developing IKEA home furnishing products is to ensure that they integrate good function, beautiful form of long-lasting quality, while also securing sustainability and low price. We want to not only encourage people to protect the planet but also fosters a sense of community amongst artists. Together, we worked to inspire others to craft affordable, creative pieces off used and unwanted furniture’, he continued.In addition, Al-Futtaim IKEA has taken a step further by launching a Maker Space at Dubai Design District. This dynamic environment will showcase IKEA's sustainable furniture range, providing consumers with hands-on education on the functionality of these eco-conscious products. The space will allow customers with opportunity to gain valuable insights into energy conservation, water preservation, and food waste reduction, contributing to the crucial goal of protecting biodiversity.The Maker Space will also include workshops that will take visitors into the world of creativity. From transforming cushions to crafting collages from old catalogues, there's something for everyone. Come visit the Maker Space at building number 8 daily until November 12th, and experience these workshops for free. Don't miss this opportunity to unleash your artistic potential.

Muscat: Hongqi Oman, the luxury automobile brand, and Al Qurum Sports, Oman, the hub for padel enthusiasts, are excited to announce an exclusive partnership aimed at elevating the sport of padel in Oman. The landmark agreement, signed at the Hongqi showroom by Mohsin Hani Al Bahrani, CEO of MHD ACERE, underscores both organizations’ commitment to excellence and community involvement."Sports have the power to bring communities together, and this partnership will provide a platform to engage the youth in meaningful experiences," said Mr. Mohsin Hani Al Bahrani, CEO of MHD ACERE. "At MHD ACERE, we are thrilled to join forces with Padel Addicts and Padel Avenues, Oman. It is an exciting opportunity for us to direct the spotlight towards our brand's identity and services. Together, we are excited to embark on a journey that fosters our vision of creating connections, strengthening our community, and engaging with our customers in a truly unique way.”This alliance holds a shared vision of supporting youth engagement and community involvement in Oman. By sponsoring tournaments at both Padel Addicts and Padel Avenues, Hongqi aims to contribute significantly to the growth and development of the padel community in Oman, offering exciting opportunities for both players and fans.

Muscat: Asyad Express, part of Asyad Group, is proud to announce an agreement with Evri, the UK's largest dedicated parcel delivery company, to establish a landmark strategic alliance set to revolutionize e-commerce and e-fulfilment logistics in the Middle East. The agreement was signed during Bloomberg's high-level business event, "Foreign Direct Investment: Scaling New Heights", that focused on Oman's FDI prospects as a rising regional hub for foreign investment.The exciting partnership will attract major UK, European, US and Chinese e-commerce players to Oman and the region, where they will have a unique opportunity to capitalize on Asyad Express' developed network and world-class capabilities and infrastructure, powered by Asyad Group's state-of-the-art integrated logistics ecosystem.Shaikh Ibrahim bin Sultan Al Hosni, Acting CEO of Oman Post and Asyad Express, expressed his enthusiasm for the strategic alliance with Evri: "Our collaboration with Evri is a testament to our commitment to positioning Oman as a prominent e-commerce hub in the Middle East. By partnering with a distinguished global industry player such as Evri, we solidify our presence in the vital e-commerce markets of the UK, the US and China and establish Asyad Express as the logistics partner of choice in the region. We are confident in this strategic partnership's potential to promote sustainable economic growth in Oman and the Middle East.""In keeping with Asyad Express' priority of ensuring customer satisfaction, the strategic alliance will also provide international customer service support, catering to local languages and delivering high-quality assistance to clients." Shaikh Ibrahim added.Jason Ashbrook, VP Commercial at Asyad Express, said: "Under this partnership, we will jointly build a comprehensive e-commerce logistics ecosystem that completely integrates our combined services and creates a solid e-commerce gateway for Evri's clients, placing Oman as Evri's exclusive e-commerce fulfilment hub in the Middle East. Asyad Express and Evri will also be developing an international outbound product that will utilize Evri's network, providing Omani SMEs with a platform to market and sell their products worldwide."From his side, Evri's Director of International Operations Ed Ayyad commented on the beginning of this promising strategic collaboration: "We are immensely excited about the potential this newly formed alliance holds. By joining forces with Asyad Express, we are well-positioned to offer a superior e-commerce solution that caters to the unique needs of the Middle Eastern market. Together, we will create a seamless and efficient e-commerce ecosystem that fuels growth and empowers businesses across the region and from the UK & European markets where existing Evri customers are looking to enter one of the fastest growing e-commerce markets.""Through this strategic alliance, Evri and Asyad Express will bring together our industry-leading capabilities, innovative technologies, and deep market knowledge to optimize the e-commerce landscape in the Middle East. By focusing on customer-centric solutions, streamlined logistics, and a commitment to excellence, we are confident that this partnership will redefine the e-commerce experience in the region," Ayyad added.With its latest partnership and future expansion plans, Asyad Express forges ahead in fulfilling the Group's strategy to broaden Oman's e-commerce capabilities in key global markets, highlighting the Sultanate's growing potential as an e-commerce hub and attracting international brands seeking to expand their services in the region and beyond.

Dubai: Nutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced the appointment of Raif Abou Diab as Country Manager for UAE, Oman, Pakistan and Yemen.In his role, Raif is responsible for ensuring strong business growth and excellence of operations across the region, leveraging Nutanix’s globally renowned expertise to meet the aspirations of government bodies and private sector organizations.With over 2 decades of experience in Information Technology, Raif brings a wealth of expertise and insights to the job, and will play a critical role in strengthening Nutanix's position as a leading provider of cloud computing solutions. Embracing the core values of integrity, innovation, and growth, Raif stands at the forefront of the fastest moving technology and digital transformation trends including Artificial Intelligence, Edge solutions, Hybrid Multiclouds, IoT, and customer investments shifting to the information age and digital economy.Prior to joining Nutanix, Raif held several leadership positions at Hewlett Packard Enterprise and Dell EMC, where he was responsible for driving growth and delivering outstanding customer experiences. He holds a BSc in Computer Engineering, and is widely recognized for his strategic vision, entrepreneurial spirit, and passion for innovation.Speaking about the appointment, Mohammed Abulhouf, Senior Director & GM EMEA Emerging Markets at Nutanix commented, “Raif is a seasoned IT veteran with an illustrious career working at top global tech giants, where he was instrumental in planning and executing strategic initiatives that greatly contributed to the success of those companies. We are excited to now have Raif leading the business, overseeing our regional channel ecosystem, and interacting directly with commercial and enterprise customers. We believe that he will play a key role in chartering the next stage of growth for our company in the region.”"I am delighted to be joining Nutanix at such an exciting time in the company's growth journey," said Raif. "Nutanix has established itself as a leader in hybrid multicloud computing, and I am thrilled to be part of a team that is committed to delivering world-class solutions and services to customers in South Gulf."

Dubai: The full stack commerce and embedded finance platform is expanding its territory after witnessing a huge traction in it’s homeland. Sterve is the first ever AI-powered integrated platform in the Middle East & Africa region for MSMEs to manage their commerce and finance through one app. The app empowers the MSMEs by providing them the tools such as setting up their website at zero cost, provides real time personalized marketing recommendations, advance analytics of their customers etc. which can easily boost MSME’s sales upto 40 percent. The cofounders Jaicky Kumar & Deepak Mishra said, “Sterve is the simplest one-stop solution for the entire business needs of MSMEs such as setting up the e-commerce website, marketing, accounting, invoicing, payments etc. The platform is so simple that anyone can use it and can setup their store in less than 15 minutes. Sterve is committed to digitize the MSMEs with its offerings which will revolutionize the businesses in Oman along with the other parts of Middle East & Africa”. Currently more than 4,000 businesses are emboldened to stand alongside the bigger players in the market and they have recorded more than $8 million worth of transactions over the platform. The company is also working on new products which it wants to rollout by the third quarter of this year.

The leaders of the World Tourism and Travel Council (WTTC) have described Saudi Arabia’s ambition to become one of the top 5 destinations in the world in the next decade as “unparalleled” in the history of tourism and travel. Opening the 22nd edition of the Summit, Arnold Donald, Chair, WTTC & Vice Chair of the Board, Carnival Corporation, welcomed the nearly 3000 participants to what will be the biggest ever meeting of global tourism and travel industry leaders.Praising the goals set by the Kingdom to welcome 100 million international and domestic travelers a year by 2030, Mr. Arnold said: “These are ambitions that are unparalleled in the history of our sector. Over the past three years it has been a great privilege to see the progress made here with our own eyes.”Summit host, Saudi Arabia Minister of Tourism, HE Ahmed Al-Khateeb welcomed the leaders of the tourism world to Riyadh said: “We have the power to shape the sector, bridge cultures, and transform communities. We are fortunate to be in the position to effect change. We must not let this opportunity pass by us. Let us ensure that here in Riyadh, we really do deliver a better future for travel.”WTTC CEO Julia Simpson focused on the vital importance of nature to the long-term prosperity and sustainability of the sector. She said: “The WTTC Positive Travel and Tourism Report shows tourism from nature generates over $600 bn which provides opportunities for some of the world’s poorest countries to protect biodiversity and their communities.”In a day packed full of debate, dialogue and the sharing of innovative ideas from around the world, leaders of the global tourism industry participated in panel discussions and keynote speakers.The Summit has attracted the leaders of the world’s biggest hotel groups and Christopher J Nassetta President & CEO, Hilton Worldwide, told the audience:  “We are in a new golden age of travel. Travel and Tourism is an unstoppable force for good. People want to see places they want to interact with people. My advice to everybody is to believe in the power of travel.” Former UN Secretary General, Ban Ki-Moon was in discussion about the sustainable future of travel. He declared: “Tourism has made a substantial contribution to humanity’s social and economic progress. Whether you belong to Saudi Arabia, China, United States or South Korea – there are no boundaries.“We need to become global citizens. We have so many problems – health issues, political issues, environmental issues – but with global citizenship we can solve them. Let’s work as global citizens to make this world more sustainable, to transform this world and pass it on to the next generations in a better way than we found it.”Speaker after speaker focused on a number of key developmental areas to ensure the successful future of tourism. Stephen Scherr, CEO, The Hertz Corporation explained:  “You need infrastructure in the various markets and countries. Whether it's an airport that can handle the kind of traffic that you will have or in our business, you need to build infrastructure that is accommodating and inviting for the people you want to be traveling around.”Indonesia’s Minister of Tourism and Creative Economy, Indonesia H.E. Sandiaga says that when you consider Indonesia and Bali that means sustainable tourism and it means a change in mindset. He said: “The new trend of tourism is more personalized, localized and customized, and smaller in size also means better revenue. This year we are creating three times more revenue from tourism than we had expected with only a quarter of previous numbers of foreign tourists arriving.”Creating a truly local and unique welcome for visitors was also a powerful topic of debate as international destinations work to ensure they offer visitors a unique taste of local culture, customs and heritage.Bahrain Minister of Tourism H.E. Fatima Al Sairafi, Minister of Tourism, said: “We have noticed in Bahrain that whenever we get tourists visiting our country, one of the main things that they leave with is the authenticity of the experience they have enjoyed. We have successfully incorporated that in our tourism experiences that we offer in the Kingdom of Bahrain. Those authentic experiences are delivered by Bahrainis.”Hashil Al Mahrouqi, Chief Executive Officer, OMRAN added: “Today, everyone is talking about sustainability. Everyone is saying protect nature, everyone is saying protect this planet. But I think in Oman we have been prepared for it. What we need to do now in Oman is capitalize on what we already have there and I think we are on the right track doing it.”The Summit has also seen a number of major announcements and signing of MOUs on the sidelines of the main Summit debates. These have seen Saudi Arabia sign MOUs with Oman, Indonesia and Barbados and Wizz Air appoint Arjaa Travel and Tourism Company as the exclusive agent for Wizz Air in Saudi Arabia. The Summit is the largest ever staged to date and has nearly 3000 participants taking part from 140 countries. The enormous global interest in the Summit was shown by one million livestreams of sessions on the metaverse on the first day.