India's Spark Capital opens DIFC office to expand Middle East business
India's Spark Capital Private Wealth Management (Spark Capital PWM) has commenced operations in Dubai International Financial Centre to expand its business across the Middle East.
"The DIFC office allows us to enhance our service offerings to international clients while creating new avenues for wealth creation and preservation," Arpita Vinay, Senior Managing Director & Co-CEO, Spark Capital Private Wealth Management Private Ltd., said in a statement.
Spark Capital PWM Private Ltd., regulated by Dubai Financial Services Authority, will offer comprehensive wealth solutions to its clients in the Middle East, the statement said.
Spark Capital PWM's combined assets under management and administration have grown nearly tenfold, from $360.24 million in April 2023 to $3.56 billion in May 2025.
It has also scaled its team from 60 to more than 400 professionals, including over 130 relationship managers, and established a pan-India presence across 12 cities.
(Editing by Seban Scaria seban.scaria@lseg.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
41 minutes ago
- Khaleej Times
Ministry of Economy awards second collective music management licence to Music Nation
The UAE Ministry of Economy granted its second collective music management licence to 'Music Nation' during a ceremony held at its headquarters in Dubai. The licence authorises the organisation to manage the distribution of rights on behalf of music creators and performers, while also ensuring nationwide compliance among music platforms. The announcement was made during an event attended by Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry of Economy, and Dr. Abdulrahman Hassan Al Muaini, Assistant Under-Secretary for Intellectual Property. The Ministry confirmed that the licence was issued in accordance with Federal Decree-Law No. 38 of 2021 concerning copyright and related rights. It marks the continuation of the Ministry's efforts to strengthen intellectual property frameworks in the UAE, following the first collective management licence awarded to the Emirates Music Rights Association in April 2025. Al Saleh said, 'Under the vision of our wise leadership, the UAE has placed strategic emphasis on enhancing the competitiveness of its cultural and creative industries, driving their growth both regionally and globally. Recognising their vital role in national economic growth, we are committed to fostering public-private collaboration to cultivate an enabling environment for talent and innovation. By elevating the creative economy's legislative framework to world-class standards, we aim to expand the private sector's participation in it, in line with the National Strategy for Cultural and Creative Industries 2031.' The Under-Secretary said in his speech, 'The Ministry remains committed to establishing a world-class copyright governance system, drawing on international best practices. We are achieving this through strengthening legal and regulatory frameworks, fostering investment in creative sectors, and implementing robust collective management systems. These measures safeguard intellectual property rights while building creators' trust in the nation's creative ecosystem.' 'The collective music management licence serves as a catalyst for cultural innovation while safeguarding artists' intellectual property rights. Through establishing transparent revenue distribution systems and fair compensation mechanisms, it elevates the UAE's music industry - enhancing its global competitiveness and positioning our nation as a premier hub for creative enterprises,' he added. Al Saleh emphasised that awarding the licence to 'Music Nation' marks a strategic milestone in the UAE's commitment to fostering creativity. The initiative unlocks new opportunities for artists, writers, and producers while strengthening rights protection and leveraging creative-economy tools - ultimately positioning the sector as a key driver of national economic growth. Dr. Abdulrahman Hassan Al Muaini said, 'Our music industry is witnessing remarkable growth, fuelled by an expanding ecosystem of creative enterprises and world-class events. Dubai alone boasts 350 live music venues, while the national streaming market generated US$841.9 million in 2024 - projected to nearly triple to $2.3 billion by 2030. To sustain this momentum, the Ministry of Economy is prioritising robust legislative frameworks that will further catalyse the creative economy and foster artistic innovation.' He added, 'Building on last month's inaugural licence granted to the Emirates Music Rights Association, today marks another significant milestone with the official authorisation of Music Nation. We are actively collaborating with local and global partners, including industry associations and legal experts, to share best practices that drive sector growth. In tandem, we're expanding awareness initiatives to ensure artists, composers, and producers fully leverage these licences to protect both their creative works and financial interests.' 'Today marks a pivotal moment for the UAE and Music Nation,' said Rasha Khalifa Al Mubarak, Chairwoman of the Board of Directors for Music Nation. 'After years of careful planning, Music Nation is positioned to become a cornerstone of music licensing, empowering the Emirates' vibrant creative industry. As an Emarati, I am honoured to establish a world-class music rights infrastructure that not only elevates local artists to greater heights, but also showcases our rich musical heritage and cultural traditions to the world. In partnership with industry leaders BMI and SoundExchange, our cutting-edge technology and services will protect music rights holders and propel the UAE's music economy to new frontiers.'
Khaleej Times
41 minutes ago
- Khaleej Times
Reportage Group partners with Forbes Middle East at the Building the Future summit
Reportage Group partnered with Forbes Middle East for the Building the Future summit, held in Abu Dhabi. This gathering brought together the region's top government figures, industry leaders, and changemakers to explore how innovation, sustainability, and purpose-driven strategies are shaping the cities and economies of tomorrow. Among the speakers were Mohamed Ali Al Shorafa, the Chairman of the Department of Municipalities and Transport, Eng. Maysarah Mahmoud Eid, the Director General of ADPIC, and top executives from some of the region's most influential entities. The event served as a high-level platform for discussing the future of development, infrastructure, technology, and investment in the Middle East. A major highlight of the summit was a fireside chat with Andrea Nucera, CEO and Managing Director of Reportage Group, who shared bold insights on reshaping real estate through purposeful development. Nucera highlighted several key milestones in Reportage's journey, including surpassing $1.5 billion in sales by 2025, a testament to the Group's strategic growth and expanding footprint. But the conversation quickly moved beyond figures. He emphasized that sustainability is not just about the environment, it's also about social sustainability. For Reportage Group, that means designing communities that are not only eco-conscious but also inclusive, accessible, and attuned to the needs of modern life. When asked, 'In markets that are rapidly evolving, how does Reportage provide accessibility, particularly in terms of pricing and location, for the new generation of buyers?'Nucera underscored the brand's mission to make homeownership attainable for everyone, not just the privileged few. Through flexible payment plans, and a strong presence in prime locations, Reportage is redefining the real estate landscape. It has become the only developer in the UAE challenging traditional norms by offering investment opportunities to all segments of society, especially younger buyers entering the market for the first time.
Khaleej Times
41 minutes ago
- Khaleej Times
Three reasons why AIOps is fast becoming a strategic priority for CIOs in Qatar
As Qatar accelerates its digital transformation in line with National Vision 2030, local CIOs are under pressure to manage increasingly complex IT infrastructures while also delivering on bold innovation mandates. From enabling smart cities and digital government services to supporting AI-powered public and private sector initiatives, the role of the CIO is becoming more strategic—and more challenging—than ever before. In this environment, technology leaders must navigate a demanding balancing act: how to modernise and scale IT operations, unlock value from data, and deliver seamless digital experiences without compromising on performance or resilience. AIOps (Artificial Intelligence for IT Operations) is emerging as a vital tool in this equation—one that can help CIOs in Qatar not only stay ahead of operational risk but actively drive transformation across their organisations. Organisations need tools that provide proactive incident management and faster issue resolution for increasingly complex IT infrastructure. AIOps uses machine learning and advanced analytics to monitor IT environments in real-time, allowing for quicker detection of potential issues, anomalies, and system performance degradation. AIOps tools can automatically analyze and identify the root causes of issues, reducing the human time spent on troubleshooting and accelerating incident resolution. This significantly improves system uptime and reduces downtime, which is crucial for maintaining smooth business operations. Most importantly, AIOps can provide reduced mean time to resolution (MTTR) as CIOs can drastically shorten the time it takes to identify and resolve incidents, ensuring minimal disruption to users and business processes. Use of AIOps offers organisations enhanced IT efficiency and automation to lessen the stress and pressures of IT management. AIOps automates routine and time-consuming tasks, such as log aggregation, event correlation, and alert management. This frees up IT teams to focus on more strategic projects and helps reduce manual errors and inefficiencies. AIOps platforms can also dynamically allocate resources based on real-time usage data, ensuring optimal performance and reducing the risk of over, or worse, under-provisioning IT resources. This results in cost savings and improved system performance. By leveraging AI to automate various aspects of IT operations, organisations can manage their infrastructure more efficiently, enabling IT teams to scale operations without significantly increasing resource requirements. Organisations are able to improve predictive capabilities and risk mitigation. There is tremendous value in using AIOps to predict potential failures or performance bottlenecks based on historical data and trends, enabling proactive measures to be taken before issues make costly impacts to the business. Predictive capabilities help CIOs plan for capacity, resource needs, and system upgrades more effectively. By identifying and addressing potential issues before they escalate, AIOps minimizes the risks associated with system downtime, security breaches, and poor performance. This helps safeguard business continuity and customer satisfaction. Further, AIOps helps maintain system reliability by proactively managing risks, ensuring IT operations stay aligned with business goals, and supporting a seamless user experience. Qatar's vision of becoming a digital-first, knowledge-based economy relies on high-performing technology infrastructure—and AIOps is key to making this vision a reality. According to Riverbed's 2024 Global AI & Digital Experience Survey, top-performing organisations are far more likely to be investing in AI than their peers (74% vs 54%), underlining the competitive advantage it can deliver. For CIOs in Qatar, this is not just about modernisation—it's about relevance, resilience, and readiness in a rapidly changing regional and global market. Beyond operational benefits, AIOps also helps attract and retain younger tech talent—an important consideration in a growing economy like Qatar's. The same survey found that younger generations, particularly Gen Z and Millennials, are the most optimistic about AI's role in the workplace. By adopting AIOps, CIOs send a powerful signal that their organisation is future-focused and committed to empowering its workforce. In a region where technology leadership is fast becoming a national imperative, Qatari CIOs who fail to act may find themselves facing growing inefficiencies, mounting risks, and declining stakeholder confidence. In contrast, those who embrace AIOps are setting themselves—and their organisations—on a path toward stronger performance, deeper insight, and sustainable success in the years ahead. The writer is Global CIO at Riverbed Technology.
