Latest news with #businesscommunity
Arab News
2 days ago
- Business
- Arab News
New York mayoral frontrunner Mamdani leaves business leaders divided on opposition strategy
NEW YORK: The business community in New York City is scrambling to figure out who to support in November's mayoral race, with many leaders saying either Andrew Cuomo or Mayor Eric Adams needs to drop out for the other to have a chance against surprise Democratic primary winner Zohran Mamdani. Following Cuomo's announcement that he would stay in the race as an independent after losing to Mamdani, New York-based CEOs have yet to coalesce behind either the former governor or incumbent Adams in their bid to defeat Mamdani, a Democratic socialist who won the primary in June. Several business leaders who would only speak under the condition of anonymity said they would support Cuomo, while others were backing Adams, a former police captain who was elected mayor as a Democrat in 2021 but this year decided to run as an independent, as less sure of the former governor's chances. Many leaders are taking a wait-and-see approach — though others believe that could be a bad move, keeping another candidate from gaining momentum. Mamdani won the June 24 primary with 56 percent of the vote, bolstered by young voters drawn to his social media presence and messaging focused on solving the city's affordability crisis. Polling suggests he would prevail over a fractured field of Cuomo, Adams and Republican candidate Curtis Sliwa, but some polls suggest Cuomo would win a head-to-head matchup against Mamdani in heavily Democratic New York. Business owners are concerned that Mamdani's proposals, which include rent freezes, free city buses and city-owned grocery stores, would add to residents' tax burden and cause an exodus of capital. Mamdani says his plans, which also include free childcare, would be paid for by raising corporate taxes and imposing an additional 2 percent income tax on New Yorkers earning more than $1 million a year. 'I can only vote for one candidate in November, and that decision won't be made until closer to Election Day,' said Jared Epstein, president of real-estate owner and developer Aurora Capital Associates, in an email. 'Until then, like nearly every one of the 20,000 contacts in my phone, my position is simple: ABZ – 'Anyone But Zohran.'' Mamdani has raised about $820,000 since the primary through July 21, according to the city's campaign finance board. Few prominent business leaders have publicly come out in support of Mamdani, who has received endorsements from unions that previously backed Cuomo. In recent days, Mamdani met with executives in a meeting organized by the nonprofit Partnership for New York City. 'He did a pretty good job of making the case that he was open to conversations, discussion and learning, and that he wanted to build a coalition that would represent all New Yorkers,' said Kathy Wylde, president and chief executive officer of the group. Cuomo has said he would drop out by September if he isn't the clear favorite and has urged others to do the same, though by state law his name would remain on the ballot. He has raised just $64,000 since June 10. Adams has raised roughly $1.5 million since June 10. Maria and Kenneth Fishel, who own luxury real estate company Renaissance Properties, hosted a fundraiser for Adams in Long Island's Hamptons over the 4th of July weekend. Adams has also received support on social media from hedge-fund managers Bill Ackman and Daniel Loeb. He has been endorsed by 13 police unions. Hedge fund manager Whitney Tilson, who ran in this year's Democratic mayoral primary, receiving just 0.8 percent of the vote, said in an email that once the election is one month away, 'it will hopefully be clear who's better positioned to beat Mamdani and ONLY THEN should the other guy drop.' Neither Cuomo nor Mamdani's campaigns responded to a request for comment. Todd Shapiro, spokesperson for Adams, said Adams made New York stronger after the pandemic and will continue to deliver results for the business community in New York. Sliwa, who is polling behind both Mamdani and Cuomo, said he is not planning on dropping out; Sliwa, as the Republican candidate in the 2021 mayoral general election won 27.8 percent of the vote.
Reuters
2 days ago
- Business
- Reuters
New York mayoral frontrunner Mamdani leaves business leaders divided on opposition strategy
NEW YORK, July 22 (Reuters) - The business community in New York City is scrambling to figure out who to support in November's mayoral race, with many leaders saying either Andrew Cuomo or Mayor Eric Adams needs to drop out for the other to have a chance against surprise Democratic primary winner Zohran Mamdani. Following Cuomo's announcement that he would stay in the race as an independent after losing to Mamdani, New York-based CEOs have yet to coalesce behind either the former governor or incumbent Adams in their bid to defeat Mamdani, a Democratic socialist who won the primary in June. Several business leaders who would only speak under the condition of anonymity said they would support Cuomo, while others were backing Adams, a former police captain who was elected mayor as a Democrat in 2021 but this year decided to run as an independent, as less sure of the former governor's chances. Many leaders are taking a wait-and-see approach -- though others believe that could be a bad move, keeping another candidate from gaining momentum. Mamdani won the June 24 primary with 56% of the vote, bolstered by young voters drawn to his social media presence and messaging focused on solving the city's affordability crisis. Polling suggests he would prevail over a fractured field of Cuomo, Adams and Republican candidate Curtis Sliwa, but some polls suggest Cuomo would win a head-to-head matchup against Mamdani in heavily Democratic New York. Business owners are concerned that Mamdani's proposals, which include rent freezes, free city buses and city-owned grocery stores, would add to residents' tax burden and cause an exodus of capital. Mamdani says his plans, which also include free childcare, would be paid for by raising corporate taxes and imposing an additional 2% income tax on New Yorkers earning more than $1 million a year. 'I can only vote for one candidate in November, and that decision won't be made until closer to Election Day,' said Jared Epstein, president of real-estate owner and developer Aurora Capital Associates, in an email. 'Until then, like nearly every one of the 20,000 contacts in my phone, my position is simple: ABZ – 'Anyone But Zohran.'" Mamdani has raised about $820,000 since the primary through July 21, according to the city's campaign finance board. Few prominent business leaders have publicly come out in support of Mamdani, who has received endorsements from unions that previously backed Cuomo. In recent days, Mamdani met with executives in a meeting organized by the nonprofit Partnership for New York City. "He did a pretty good job of making the case that he was open to conversations, discussion and learning, and that he wanted to build a coalition that would represent all New Yorkers," said Kathy Wylde, president and chief executive officer of the group. Cuomo has said he would drop out by September if he isn't the clear favorite and has urged others to do the same, though by state law his name would remain on the ballot. He has raised just $64,000 since June 10. Adams has raised roughly $1.5 million since June 10. Maria and Kenneth Fishel, who own luxury real estate company Renaissance Properties, hosted a fundraiser for Adams in Long Island's Hamptons over the 4th of July weekend. Adams has also received support on social media from hedge-fund managers Bill Ackman and Daniel Loeb. He has been endorsed by 13 police unions. Hedge fund manager Whitney Tilson, who ran in this year's Democratic mayoral primary, receiving just 0.8% of the vote, said in an email that once the election is one month away, "it will hopefully be clear who's better positioned to beat Mamdani and ONLY THEN should the other guy drop." Neither Cuomo nor Mamdani's campaigns responded to a request for comment. Todd Shapiro, spokesperson for Adams, said Adams made New York stronger after the pandemic and will continue to deliver results for the business community in New York. Sliwa, who is polling behind both Mamdani and Cuomo, said he is not planning on dropping out; Sliwa, as the Republican candidate in the 2021 mayoral general election won 27.8% of the vote.
Fast Company
7 days ago
- Business
- Fast Company
With DEI, silence is complicity
Five years ago, we weren't so divided as a business community on supporting a broad range of initiatives. However, since January, many U.S. companies have rolled back their DEI programs, including Chipotle, Comcast, Disney, GE, GM, Google, Intel, and Pepsi. Other companies, such as Nike and JPMorganChase are delaying the publication of their impact reports. Even an industry tentpole event, like the Cannes Lions International Festival of Creativity, this year was largely mum on DEI, when just three years ago it was the topic du jour. Reasonings ranged from legal challenges and internal pushback to economic factors and political scrutiny from the Trump administration. In the past, there was an unspoken policy that most businesses 'don't get political'—a sentiment I don't disagree with. But the hard truth is the modern workforce is aware of what's going on in the world, and they see acquiescence or silence as being complicit. Some consumers have expressed their dissatisfaction through boycotts that have impacted major retailers such as Target, which saw a drop in sales and stock prices following its DEI rollback. Beyond the economic repercussions, companies need to realize that these sudden about-faces lead to uncertainty for their stakeholders. Instead of changing their values during times of chaos, companies need to stand true to their clarity of mission, culture, and communication. Clarity of mission—stay true to your North Star At a time when organizations are being attacked from any side, companies must define what they stand for. Every ship must have a rudder and a course for a successful voyage. That's even more important in a storm—and make no mistake, we are in a storm. It's easy to get lost in balance sheets from quarter to quarter—particularly when budgets get tight. But organizations need to zoom out in terms of their business timeline. Administrations are temporary, but the goal is to court customers for life. Take Apple for example. The company has maintained its commitment that business should be a force for good by focusing on innovation, collaboration, and serving others. 'We believe that business, at its best, serves the public good, empowers people around the world, and binds us together as never before,' said Apple CEO Tim Cook. Rather than shying away from various initiatives, Apple uses a portion of its investor relations page to highlight its work on education, accessibility, DEI, and the environment. And Apple's investors agree with the company's course. Despite pressure from a conservative think tank, Apple shareholders in February rejected a proposal to eliminate the company's DEI program. It can be prudent to update methods or change tact, but companies should not change their destination or values. Cook conceded that as the legal landscape evolves, Apple may need to change some policies to comply, but the company's North Star of dignity and respect for everyone would remain. Every company's North Star is a little different, but consumers are watching for it. Clarity of culture—empower your employees and consumers The clearest way to keep your company aligned on values is maintaining its distinct culture; an organization's culture is one of the key experiential outcomes of its stated mission. While some companies are pulling back their DEI activities for fear of government or political retaliation, I would argue that customer and stakeholder sentiment is more impactful in the long run. For certain companies, like Ben & Jerry's, their customers are clear in supporting DEI initiatives. Other companies, like AB inBev pulled back its activities after the backlash and boycott following Bud Light's marketing partnership with transgender influencer Dylan Mulvaney. More recently, we see companies such as Delta Airlines maintaining their DEI policies, not just because of customers, but because of their talent and business pipeline. The company has always maintained that its inclusive policies have led to business growth, talent retention, and customer loyalty. Delta's website includes updated employment demographics and showcases the work it does to nurture aviators from underrepresented groups. In response to political backlash, Delta doubled down earlier this year, maintaining its 'steadfast' support of its DEI efforts. The company highlights the importance of a company reflecting the backgrounds of the people it serves—because businesses don't just operate in America or in red states or blue states. And business results underscore that distinction. Companies with higher DEI rates are more likely to outperform their competitors in profitability. Clarity of communication—talk the talk while walking the walk Through all this turbulence and uncertainty, it's integral to business success for companies collaborate with their staff and communicate with their customers. Organizations must ensure that what they're doing is aligned not just with their corporate values, but community values too. Any misalignment must be addressed. And don't be subtle about it. Pick a lane and definitely communicate what you're doing. A clear, bold message leaves no room for misinterpretation and projects a necessary confidence in your business values and goals. Despite not having a corporate public relations team, Costco has been the most vocal example of clear stakeholder communication about its values. Costco maintained the price on its iconic $1.50 hot dog despite inflation causing prices to rise. The move firmly protected the wholesale retailer's consumer culture and made customers feel like the company had their back. In January, Costco went viral on social media as the counterpoint to Target when it maintained its DEI policies. And once again, the results prove clearly communicating company values to customers translates to business wins. In addition to maintaining the support of shareholders who don't want the company to bend to activist investors, Costco's sales have continued to climb through the first half of 2025.
Hospitality Net
15-07-2025
- Business
- Hospitality Net
Agentic AI and Hotel PMS: Brace Yourself for a Positive Impact
The business community has welcomed artificial intelligence as a key means of adapting to today's changing workforce and recommending actions based on data analytics; however, according to experts, the hotel industry has yet to leverage it fully. A recent study by McKinsey found that as many as 78 percent of respondents say their organizations use AI in at least one business function, a 6-percentage-point increase from 2024. With so many core processes now informed by AI, hoteliers must bring these capabilities into the heart of their operations: the property-management system. Today's AI technology is reactive; it must wait for input from users before making decisions based on new information the system receives. While it is valuable for chatbots, training tools, and customer service, many believe it's still too early for machines to take the wheel and start making decisions. Think again. AI is already helping hotels reduce manual work through automations like scheduled reports, pre-programmed workflows, and dynamic pricing recommendations. But these tools still rely on human instruction at every step. These restrictions, however, may be coming to an end with the debut of Agentic AI — identified as the No. 1 trend in Gartner's Top 10 Strategic Technology Trends for 2025. Leveraging AI 'agents' as intuitive collaborators will enable hotel operators to learn new information, adjust their approach to problem solving, and take immediate action. More Information, Less Hassle The Harvard Business Review has referred to Agentic AI as a 'digital teammate' capable of expanding a business' efficiency as well as creating more resilient collaboration over time. The publication highlighted advancements in human resources that help connect job seekers with their ideal role, as well as website design to optimize the customer journey at all times. This flexibility demonstrates how this next wave of AI technology will provide hospitality leaders with additional ways to connect with travelers while preserving the human element. As Agentic AI makes its way into hotel PMSs, operators will have the opportunity to extend these same capabilities to every corner of their commercial operation. For example, an active Agentic AI scheduling tool can eliminate the guesswork of staffing your property with the agent quickly adapting to changes in worker availability and updating calendars in real-time. Adopting this strategy can help operators provide dynamic schedules that benefit all team members, without adding additional complexity to your property workflow. Agentic AI also has a transformative effect on the supply chain and purchasing, and its organizational capabilities also show benefits when applied to managing guest itineraries. Once in place, these tools can automatically manage the guest experience from start to finish, while displaying and controlling each of these elements directly through the hotel's PMS for optimal visibility. This way, hoteliers remain informed on all guest itineraries, amenity requests, and last-minute rate adjustments with a more streamlined delivery method and a reduced reliance on input from operators. One-Click Confirmation Leveraging Agentic AI within the hotel PMS powers a fully orchestrated hospitality model, where staff, systems, and guest signals stay aligned in real time without added complexity. Click here to see how a hotel PMS + Agentic AI can return a fully personalized, pre-filled cart — ready for one-click confirmation — as soon as the PMS starts listening to the guest's intent throughout the booking journey. AI is helping hoteliers adapt to a changing marketplace in ways that would never have been possible, and it is helping guests create new memories associated with your properties. As Agentic AI becomes more widely available for businesses and users, hoteliers should align themselves with technology partners who are willing to take this innovation and its challenges — seriously. This means ensuring your approach to security and data aligns with that of your partners, as well as the level of accountability they include in the decision-making process, to ensure operators never fully cede control to automation. Hoteliers must also take security and accountability seriously when considering Agentic AI, including building controls into the PMS to reduce or expand its capabilities on the fly. This will be crucial to avoid potential situations, such as when AI hallucinates the ability to offer a discount or presents a rate that isn't available. While Agentic AI is still in its early stages within the hospitality sector, its rapid development signals where PMS capabilities are headed. Leveraging Agentic AI in the hotel PMS will allow operators to offer the 'agile' hospitality experience guests, workers, and owners have been looking for. By cementing the hotel PMS as your command center, supported by AI teammates and intelligent automation, hoteliers will pioneer the next level of guest satisfaction for years. About the Author Lisa Jane Wheaton is the Senior Product Strategist of Maestro, the preferred Web Browser based cloud and on-premises all-in-one PMS solution for independent hotels, luxury resorts, conference centers, vacation rentals, and multi-property groups. Maestro's enterprise system offers embedded payments and 20+ integrated modules on a single database, including mobile and contact free apps to increase profitability, drive direct bookings, centralize operations, and enable operators to engage guests with a personalized and safe experience. Maestro's Support Service provides unparalleled 24/7 North American based live support and education services. About Maestro PMS Maestro is the preferred Web Browser based cloud and on-premises PMS solution for independent hotels, luxury resorts, conference centers, vacation rentals, and multi-property groups. Maestro's PCI certified and EMV ready enterprise system offers a Web browser version (or Windows) complete with 20+ integrated modules on a single database, including mobile and contactless apps to support a digitalized guest journey as well as staff operations. Maestro's sophisticated solutions empower operators to increase profitability, drive direct bookings, centralize operations, and engage guests with a personalized experience from booking to check out and everything in between. For over 40 years Maestro's Diamond Plus Service has provided unparalleled 24/7 North American based support and education services to keep hospitality groups productive and competitive. Click here for more information on Maestro. Click here to get your free PMS Buying guide. Barb Worcester NORTHWIND-Maestro
Economy ME
14-07-2025
- Business
- Economy ME
RAKEZ posts 43 percent surge in new company registrations in H1 2025
The Ras Al Khaimah Economic Zone (RAKEZ) recorded a significant 43 percent annual increase in new company registrations for the first half of 2025. A total of 8,506 companies joined the RAKEZ business community between January and June this year, up from 5,933 in H1 2024, marking a significant leap in the economic zone's continued growth trajectory. 'This remarkable growth reflects the confidence investors place in RAKEZ and the emirate of Ras Al Khaimah as a whole. Our continued commitment to creating a supportive and dynamic environment for businesses is clearly resonating with entrepreneurs and companies from around the globe,' said Ramy Jallad , Group CEO of RAKEZ. Business community grows to more than 35,000 active companies The majority of new companies at RAKEZ operated in key sectors, including management, information and marketing consultancies; e-commerce; general trading; food and beverage; and building materials. These sectors continue to benefit from RAKEZ's robust infrastructure, simplified processes, competitive cost advantages and business-friendly ecosystem. As RAKEZ continues to appeal to a diverse global investor base, India led the list of top investor nationalities, accounting for 43 percent of new registrations, followed by Pakistan, the United Kingdom, Egypt and the Philippines. With this sustained momentum, RAKEZ is now home to a thriving business community of more than 35,000 active companies from over 100 countries, reinforcing its position as a leading business and industrial hub in the region. The economic zone remains deeply committed to its mission of empowering entrepreneurs, fueling economic growth and positioning Ras Al Khaimah as a global center of innovation and investment. 'By expanding our digital services, growing our value-added services portfolio, launching sector-focused hubs and introducing value-driven packages, we are ensuring that new and existing businesses have everything they need to grow and succeed. With strategic foresight, operational excellence, and a firm commitment to sustainable development, RAKEZ is poised to play a leading role in shaping the UAE's future economic landscape,' he added. Read| Dubai climbs to 7th most expensive city for HNWIs globally: Report Fastest-growing economic zone in UAE Earlier this year, RAKEZ was recognized as the fastest-growing economic zone in the UAE, reinforcing its position as a leading business hub that continues to drive economic progress and investment. The Annual Asian Arab Awards 2025 highlighted RAKEZ's strategic efforts to integrate client feedback into its service design and delivery, ensuring its solutions align with global best practices. This commitment enhances customer satisfaction and strengthens business success, contributing to a dynamic and thriving ecosystem for enterprises of all sizes. With a record-breaking 66 percent growth in new business registrations in 2024, RAKEZ has strengthened its support for start-ups, SMEs and international investors. Initiatives such as the Growth Series exemplify its commitment to fostering innovation, enabling business expansion and driving economic diversification. As 2025 progresses, RAKEZ remains steady in its commitment to empowering businesses and entrepreneurs, driving sustainable economic progress, and ensuring Ras Al Khaimah and the UAE remain centers of global investment. With a focus on strategic foresight, operational excellence and sustainable development, RAKEZ is well-positioned to shape the emirate's economic landscape and deliver another landmark year.
