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Al-Futtaim Blue and Justlife partner to offer exclusive rewards to customers in the UAE - Middle East Business News and Information

Al-Futtaim Blue and Justlife partner to offer exclusive rewards to customers in the UAE - Middle East Business News and Information

Mid East Info02-05-2025

Partnership offers enhanced convenience and value for both Al-Futtaim Blue and Justlife customers
Al-Futtaim Blue: members to earn Blue points and exclusive discounts on Justlife home cleaning, maintenance, beauty and wellness services, and much more
Dubai, United Arab Emirates;May 2025: Al-Futtaim loyalty programme Blue has partnered with Justlife, a leading online marketplace for home services, to offer exclusive benefits and rewards to customers in the UAE. This collaboration will enhance customers' everyday lives with added convenience, value, and savings.
Blue members can now earn 1 Blue point for every 1 AED spent on Justlife services. Points can be accumulated by uploading digital receipts through the Blue app within three days of purchase. These points can be redeemed for a wide range of rewards within the Al-Futtaim ecosystem and beyond.
Furthermore, Blue members will also enjoy AED 140 off across four Justlife services in the UAE. Details about the specific services included in this offer, validity dates, and the required promo code are now available on the Blue Rewards app.
Commenting on the announcement, Dany Karam, Chief Marketing and Partnerships Officer at Al-Futtaim Blue, said: 'We are excited to partner with Justlife to offer our Blue members enhanced value and convenience. This partnership is a testament to Al-Futtaim's ongoing efforts to enrich our customers' lives through innovative solutions and meaningful rewards. By combining the power of Blue with 'Justlife's' top-tier services, we're delivering a seamless and rewarding experience that simplifies everyday life for our members across the UAE and other markets.'
Meanwhile, Baris Kocdur, VP of Marketing at Justlife, said: 'At Justlife, our mission is to simplify daily life for our customers. Partnering with Al-Futtaim Blue elevates this mission, unlocking seamless convenience and exceptional rewards for more people across the UAE. Together, we're making life simpler—and more rewarding—one service at a time.'
As part of its ongoing digital transformation strategy, Al-Futtaim is committed to leveraging technology and partnerships to enhance customer experiences. The strategic alliance with Justlife exemplifies this approach, offering members a convenient digital gateway to essential everyday services. Blue offers free membership and a wide range of benefits, including 2 for 1 offers, discounts, point accumulation, and cashback across diverse sectors. By combining their strengths, Blue and Justlife are empowering customers in the UAE to boost value, enjoy exclusive offers, and simplify their daily lives.
About Al-Futtaim:
Established in the 1930s as a trading business, Al-Futtaim today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates.
Structured into five operating divisions; automotive, financial services, real estate, retail, and health; employing more than 33,000 employees across more than 20 countries in the Middle East, Asia, and Africa, we partner with over 200 of the world's most admired and innovative brands.
Al-Futtaim's entrepreneurship and relentless customer focus enable the organisation to continue to grow and expand, responding to the changing needs of our customers within the societies in which we operate. By upholding our values of respect, excellence, collaboration, and integrity, Al-Futtaim Group continues to enrich the lives and aspirations of our customers every day.
About Blue:
Blue is Al-Futtaim's lifestyle platform that redefines how customers engage with their favourite brands. Operating across nine countries – UAE, KSA, Qatar, Kuwait, Bahrain, Oman, Egypt, Malaysia, and Singapore – Blue connects millions of members with diversified offers tailored to their needs. With a growing ecosystem spanning retail, automotive, dining, leisure, entertainment, wellness and more, Blue delivers a seamless blend of rewards, convenience, and innovation. Now powered by Blue AI, a cutting-edge lifestyle advisor and customer engagement feature, the platform offers personalized guidance, tailored recommendations, and one-click solutions to enhance everyday experiences. Whether discovering exclusive offers, enjoying instant product suggestions, or unlocking unique shopping experiences, Blue transforms life's moments into smarter, more meaningful connections with the brands you love. For more information, download Blue today.
About Justlife:
Justlife is the region's leading on-demand home services platform, designed to simplify everyday living by connecting customers with trusted, high-quality service professionals. Through its website and mobile application, Justlife enables users to book a wide range of services — including home cleaning, salon and spa at home, healthcare, maintenance, and more — in under a minute. Founded in 2015 with a mission to give people back their time, Justlife ensures seamless experiences through prompt customer support, trained and certified professionals, and consistently high service standards. With a focus on convenience, reliability, and quality, Justlife continues to change the way the region experiences home services — one service at a time.

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Being strategic partners, sky is limit for India-Egypt relations: Indian Ministry of External Affairs
Being strategic partners, sky is limit for India-Egypt relations: Indian Ministry of External Affairs

Daily News Egypt

time4 hours ago

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Being strategic partners, sky is limit for India-Egypt relations: Indian Ministry of External Affairs

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Egypt Allocates EGP 7.3B for 180 Projects in Damietta
Egypt Allocates EGP 7.3B for 180 Projects in Damietta

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time14 hours ago

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Egypt Allocates EGP 7.3B for 180 Projects in Damietta

H-Tayea Minister of Planning Rania Al-Mashat announced that Damietta governorate will receive EGP 7.3 billion in public investments for 180 development projects under Egypt's 2024/2025 national plan, excluding projects under the 'Haya Karima' rural development initiative. The announcement came during the launch of the 'Citizen Investment Plan' report for Damietta, which outlines project allocations across sectors and reflects the government's commitment to local development and transparency. The report also covers Egypt's broader development strategy and performance indicators at the governorate level. Al-Mashat said 28 villages in Damietta are included in the first phase of 'Haya Karima,' benefiting 243,000 residents. The plan allocates EGP 3.1 billion to the transport sector, followed by EGP 828.6 million for housing, EGP 674.5 million for local development, EGP 535 million for healthcare, and EGP 431 million for pre-university education. Other sectors will receive EGP 1.66 billion. Projects include infrastructure work at Damietta Port, upgrades to sewage and water systems in Damietta New City, and the expansion of local health and education services. Health investments include building Faraskour Central Hospital, expanding Damietta Oncology Hospital, and developing the Damietta Cardiac Hospital. The education sector will see the construction and renovation of 414 classrooms. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand

Capitalising on land - Economy - Al-Ahram Weekly
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Egypt is using land as collateral to meet its financing needs In a much-publicised move, 174 km² of land in Ras Shukeir overlooking the Red Sea was allocated to the Finance Ministry by a presidential decree last week. According to a Ministry of Finance statement, the allocation does not entail selling the land but rather developing it while using a portion as collateral for sovereign sukuk (Islamic Bond) issuance. This will provide financing to meet state budget needs on favourable terms. The land used as collateral will remain under the full ownership of the Egyptian state represented by the Ministry of Finance and certain government-affiliated economic entities, the statement said. The upsides of the scheme are multiple, experts say. Using a tangible asset as collateral enhances investor confidence and potentially secures better issuance terms, economist Mohamed Fouad told Al-Ahram Weekly. Moreover, it will stimulate real estate, tourism, and public services development in the location, generating long-term revenue streams. It aligns with the government's objective to reduce public debt, lower debt-servicing costs, and manage fiscal pressure. According to the ministry's statement, the initiative will replace existing budget-sector debt with joint investments and reduce debt burdens and servicing costs. Earlier this year, the minister of finance said external debt repayments in 2025 stood at $16 billion. Egypt's foreign debt stood at around $155 billion in December 2024. Mohamed Hafez, a consultant and geoeconomics researcher at Nottingham Trent University in the UK, said the decision would help Egypt diversify its debt instruments and minimise borrowing costs. The land in question is currently idle but holds significant development potential, which makes the decision a smart move to leverage a prime asset and unlock its value through joint ventures in sectors like tourism, industry, energy, and real estate. 'The proceeds could help reduce debt-servicing costs and fund infrastructure, though the benefits will ultimately depend on whether real development follows or it turns into another fiscal stopgap,' Hafez said. Finance Minister Ahmed Kouchouk said Egypt plans to issue $2 billion in sukuk in 2025 via multiple offerings. It has appointed banks to oversee the issuance, Reuters reported in April. The sum partly addresses the country's external financing gap, Fouad said, adding that Egypt's Gross Financing Needs (GFN) stand at 40 per cent of GDP, the highest globally. Egypt is looking to roll over the maturity of its debt to reduce fiscal strain due to the heavy GFN. This would not be the first time that land has been used to generate revenue to help repay debt. In February 2024, the government concluded the Ras Al-Hekma deal, whereby the Abu Dhabi Sovereign Fund ADQ pumped in $24 billion in investments to develop prime land on the North Coast. Some $11 billion of UAE deposits with the Central Bank of Egypt (CBE) were swapped for investments. Hafez explained that though the arrangements involve asset monetisation for fiscal relief by converting land value into upfront cash, the two deals differ significantly in scope, structure, and implications. The Ras Al-Hekma deal was an equity-for-land deal with an immediate bailout component, whereas the Ras Shukeir plan is a debt instrument that keeps the asset in Egyptian hands, he said. Fouad said using land to resolve the issue of debt was 'a pragmatic, strategic approach' to the issue. Using underutilised assets to finance public obligations reduces the reliance on higher-cost borrowing, he said, explaining that it transforms unutilised state land into productive, revenue-generating infrastructure. The sukuk issuance is also good for book-keeping as the yields paid to investors will not be written down as debt service, but rather operational costs. Nonetheless, he noted that Egypt must avoid becoming a quasi-rentier state that relies on such rent-based sources of finance rather than being a productive economy. On a similar note, Hafez said that given the rapid shifts in the global and regional economic and geopolitical dynamics, as well as rising unpredictability that has undermined development plans in many developing economies, the strategy would be effective in unlocking dormant capital, such as from vast state-owned lands, he said. 'The key point here, however, is not to adopt this strategy as a standalone or quick win, but as part of a broader, deep structural reform agenda, which the government is already implementing,' Hafez stressed. According to Fouad, owing to the plan's assetbacked structure and Sharia compliance, demand from Islamic investors in the Gulf and global markets is expected to be strong. 'The Red Sea region's development appeal enhances investor interest,' he said, pointing out that Egypt's prior sukuk issuance of $1.5 billion in 2023 demonstrated active appetite. The 2023 issuance offered an 11 per cent yield that was aligned with market rates and sovereign bond benchmarks at the time, Fouad explained. The sukuk market is estimated at $850 billion, with an average annual issuance of $160 billion. Likely buyers of sukuk bonds, according to Fouad, are Islamic institutions and sovereign wealth funds in the Gulf Cooperation Countries (GCC) interested in yield and Sharia-compliant exposure. Global fixed-income investors seeking diversification and strong collateralisation are also potential buyers, as well as domestic and regional banks and insurance firms looking for compliant instruments with structured returns. To make the most of this initiative, Fouad recommended maximising land utilisation by structuring the sukuk with clear, revenue-generating development plans such as tourism projects. He also suggested diversifying maturities and currency exposure to enhance resilience and fiscal flexibility. Hafez warned that given the rapidly evolving regional geopolitical environment and its potential to unsettle the financial markets, the government should be prepared for possible under-subscription or high yields and avoid relying solely on optimistic interest rate forecasts. Moreover, success depends not just on raising funds, but also on converting land into sustainable, well-managed cash flows, he said. 'The government speaks of using the proceeds for productive projects, but this will require disciplined execution to ensure sukuk-funded developments drive real economic growth and do not become white-elephant ventures,' he stressed. * A version of this article appears in print in the 19 June, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:

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