Latest news with #CCI
Web Release
17 hours ago
- Business
- Web Release
Dubai Retains Global Top Spot for attracting Greenfield FDI Projects in cultural and creative industries in 2024
(Dubai Culture) Dubai has maintained its first place as the world's leading destination for greenfield foreign direct investment (FDI) in the cultural and creative industries (CCI), topping the Financial Times' fDi Markets ranking for the third consecutive year. The 2024 report, which assessed 233 cities under the 'Creative Industries Cluster' classification, placed Dubai ahead of global hubs such as London and Singapore. During the year, the emirate attracted 971 CCI projects—an 8% increase from 2023—bringing in AED 18.86 billion in capital inflows, up nearly 60% from 2023, and generating 23,517 new jobs, a 9% year-on-year rise. All major CCI subsectors saw stronger performance, with notable growth in advertising and PR, film and media production, gaming, education, and advanced software design. According to the Dubai FDI Monitor, greenfield, wholly-owned ventures made up 76.5% of all projects, while new forms of investment represented 15.4%, reinvestment 5.6%, and mergers & acquisitions (2.4%). Data from the Dubai FDI Monitor and the Dubai Framework for Cultural Statistics show that the United States accounted for the largest share of capital inflows in 2024, at 23.2%, followed by India (13.4%), the United Kingdom (9.4%), Switzerland (7.6%), and Saudi Arabia (4.8%). India led in both the number of projects (18.8%) and jobs (18.5%), while the UK, US, Germany, Italy, and France also featured prominently across both metrics. Investor confidence continues to be driven by Dubai's pro-business reforms, including Executive Council Resolution 11 of 2025, which enables free zone businesses to operate onshore, expanding commercial flexibility. The city's Zero Government Bureaucracy programme is also reducing red tape across more than 2,000 federal procedures. Combined with strong intellectual property protections and advanced digital infrastructure, these initiatives have helped establish a regulatory framework marked by efficiency, transparency, and ease of doing business. Insights from the 'Creative Dubai: Navigating Tomorrow's Creative Landscape' report illustrate how this ecosystem is scaling with demand, pinpointing investment opportunity hotspots in design, immersive media and AI-driven production. Dubai continues to offer investors access to top-tier talent, competitive setup costs, and strategic connectivity. The 2024 FDI results underscore the city's rise as a global hub for innovation and one of the world's most attractive environments for creative enterprise.
Business Wire
20 hours ago
- Business
- Business Wire
Dubai Retains Global Top Spot for Attracting Greenfield FDI Projects in Cultural and Creative Industries in 2024
DUBAI, United Arab Emirates--(BUSINESS WIRE)--(Dubai Culture) Dubai has maintained its first place as the world's leading destination for greenfield foreign direct investment (FDI) in the cultural and creative industries (CCI), topping the Financial Times' fDi Markets ranking for the third consecutive year. The 2024 report, which assessed 233 cities under the 'Creative Industries Cluster' classification, placed Dubai ahead of global hubs such as London and Singapore. During the year, the emirate attracted 971 CCI projects—an 8% increase from 2023—bringing in AED 18.86 billion in capital inflows, up nearly 60% from 2023, and generating 23,517 new jobs, a 9% year-on-year rise. All major CCI subsectors saw stronger performance, with notable growth in advertising and PR, film and media production, gaming, education, and advanced software design. According to the Dubai FDI Monitor, greenfield, wholly-owned ventures made up 76.5% of all projects, while new forms of investment represented 15.4%, reinvestment 5.6%, and mergers & acquisitions (2.4%). Data from the Dubai FDI Monitor and the Dubai Framework for Cultural Statistics show that the United States accounted for the largest share of capital inflows in 2024, at 23.2%, followed by India (13.4%), the United Kingdom (9.4%), Switzerland (7.6%), and Saudi Arabia (4.8%). India led in both the number of projects (18.8%) and jobs (18.5%), while the UK, US, Germany, Italy, and France also featured prominently across both metrics. Investor confidence continues to be driven by Dubai's pro-business reforms, including Executive Council Resolution 11 of 2025, which enables free zone businesses to operate onshore, expanding commercial flexibility. The city's Zero Government Bureaucracy programme is also reducing red tape across more than 2,000 federal procedures. Combined with strong intellectual property protections and advanced digital infrastructure, these initiatives have helped establish a regulatory framework marked by efficiency, transparency, and ease of doing business. Insights from the ' Creative Dubai: Navigating Tomorrow's Creative Landscape' report illustrate how this ecosystem is scaling with demand, pinpointing investment opportunity hotspots in design, immersive media and AI-driven production. Dubai continues to offer investors access to top-tier talent, competitive setup costs, and strategic connectivity. The 2024 FDI results underscore the city's rise as a global hub for innovation and one of the world's most attractive environments for creative enterprise.
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Business Standard
21 hours ago
- Business
- Business Standard
SC asks CoC to consider INSCO's plan if terms match AGI's offer for HNGI
The Supreme Court has asked the Committee of Creditors (CoC) of Hindustan National Glass and Industries (HNGI) to consider the resolution plan of Independent Sugar Corporation (INSCO), provided the cash payment by INSCO to the CoC matches AGI's commercial offering The apex court has also said that the resolution plan submitted by INSCO will be considered only if the company 'adheres to its original payment to the operational creditors and workmen of ₹ 50 crore, and the equity to the CoC would remain'. Should INSCO meet these conditions, the CoC shall consider its resolution plan for HNGI, and the plan is to be approved by both the creditors and the adjudicating authority by June 27. INSCO's plan involves ₹1,850 crore to financial creditors, in addition to 5 per cent equity and ₹50 crore to operational creditors. AGI Greenpac, in its plan, had offered ₹2,207 crore to financial creditors, ₹6 crore to operational creditors, but no equity to the CoC. In February this year, glass and sanitaryware maker AGI Greenpac sought a review of the Supreme Court ruling that quashed the approval of its resolution plan for HNGI, citing failure to obtain proper approval from the Competition Commission of India (CCI). 'On a standalone basis, there still was a view that it was a specific case and facts that were impacting specific parties. But, in light of the JSW order, that the process is supreme, now any aggrieved party, promoter or unsuccessful bidder may try and seek relief from courts to reject and reopen all past approved and implemented resolution plans, wherein CCI approval was obtained after the CoC approval,' a senior executive at a Big Four firm said. The Ministry of Corporate Affairs (MCA) is likely to amend the Insolvency and Bankruptcy Code (IBC) to reduce the burden on CCI. Sources said the ministry would clarify that prior permission from the CCI is not required for submitting bids under the corporate insolvency resolution process. The Supreme Court has also agreed to hear the review petition filed by the antitrust watchdog on the issue of practical difficulties in implementing its order.
Irish Post
2 days ago
- Business
- Irish Post
Customer engagement leader CCI Global announces major Galway expansion
CUSTOMER engagement leader CCI Global has this week announced a major expansion of its Galway site, moving from a three-desk start-up space into a 30-person office unit. The move comes just six months after the leading Business Process Outsourcing (BPO) company opened its first European base at Platform94 in Galway. The new office space will provide the capacity needed to support CCI's ambitious growth plans in the region, with room to scale their team steadily over the coming months. "Establishing our European base at Platform94 is a strategic move for CCI as we continue to grow our global delivery capability," said Mervyn Pretorius, Group CTO and Ireland Lead. "The team here is already contributing to key areas of our technology and client support operations, and this expansion positions us to deliver even more value to our partners worldwide." Global cornerstone CCI Global is headquartered in the UAE and is one of the top providers of customer management services across key African markets. These include Kenya, Ghana, Rwanda, Ethiopia, Egypt and South Africa, with Botswana launching soon. With over 15,000 employees across 15 sites on the continent and boasting more than 80 international clients, the company's expansion into Galway marks a strategic step in building distributed global tech hubs. Galway's vibrant talent pool, innovation-driven culture and strong connectivity make it an ideal European base to complement CCI's growing African operations. The expansion positions the Galway site as a cornerstone of CCI's global growth strategy. 'Tech talent' Heralding the Galway expansion, Group CEO Martin Roe highlighted Ireland's reputation as a prestigious tech hub. "This strategic move has been thoughtfully planned and is a key step in our global growth," he said. "We chose Ireland as the home of our IT Hub because of its strong reputation for tech talent and the incredible support from the government and local ecosystem. "We're excited to be expanding into a larger space in Galway, strengthening our IT capabilities, and creating more high-quality jobs here in Ireland." Meanwhile, Denis Curran, Head of Emerging Business at IDA Ireland, said the move reflected the Irish Government's commitment to supporting inward investment. "CCI Global's expansion in Galway is a strong endorsement of Ireland's position as a strategic location for ambitious, growth-focused companies," he said. "Our pro-business environment, combined with access to skilled talent and a supportive innovation ecosystem, continues to attract firms from across the globe." See More: CCI Global, Galway, IDA Ireland, Platform94
RTÉ News
5 days ago
- Business
- RTÉ News
CCI Global expands European operations at Platform94 in Galway
Global customer engagement leader CCI Global has announced an expansion in Galway as it moves from a three-desk startup space into a 30-person office unit. CCI Global said the new office space at Platform94 in Galway will provide the capacity needed to support its growth plans in the region, with room to scale their team steadily over the coming months. CCI Global operates across key African markets including Kenya, Ghana, Rwanda, Ethiopia, Egypt and South Africa, with Botswana launching soon. With over 15,000 employees across 15 sites on the continent, its expansion in Galway marks a strategic step in building distributed global tech hubs. It said that Galway's vibrant talent pool, innovation-driven culture, and strong connectivity make it an ideal European base to complement the company's growing African operations. Martin Roe, Group CEO of CCI Global, said the company chose Ireland as the home of its IT Hub because of the country's strong reputation for tech talent and the "incredible" support from the government and local ecosystem. "We're excited to be expanding into a larger space in Galway, strengthening our IT capabilities, and creating more high-quality jobs here in Ireland," he aded. Mervyn Pretorius, Group CTO and Ireland Lead, said that establishing its European base at Platform94 is a strategic move for CCI as it continues to grow its global delivery capability. "The team here is already contributing to key areas of our technology and client support operations, and this expansion positions us to deliver even more value to our partners worldwide," he added. Marie Donnellan, CEO of Platform94, said the speed of CCI's growth speaks not only to the strength of the local ecosystem for ambitious global tech businesses, but also to the calibre of the team they've built here in Galway. Denis Curran, Head of Emerging Business at IDA Ireland, said that CCI Global's expansion in Galway is a strong endorsement of Ireland's position as a strategic location for ambitious, growth-focused companies.
