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Xerox to split into two companies
Xerox plans to separate into two independent publicly- traded companies, a Document Technology company and a Business Process Outsourcing (BPO) company.
“Today Xerox is taking further affirmative steps to drive shareholder value by announcing it will separate into two strong, independent, publicly traded companies,” said Ursula Burns, chairman and chief executive officer of Xerox. “These two companies will be well positioned to lead in their respective rapidly evolving markets and capitalize on the opportunities that now exist to expand margins and increase market share.”
“I am confident that the extensive structural review we conducted over the last few months has produced the right path forward for our company. We will now position the companies for success and execute our plan to separate them in the shortest possible timeframe while continuing to focus on achieving our 2016 goals,” added Burns.
The Document Technology company will focus on sustaining as a global leader in document management and document outsourcing with approximately $11 billion in 2015 revenue. It will lead the market with superior technology, solutions and innovations that optimize document management in an increasingly interconnected, digital world. Its strong profitability and free cash flow generation will enable significant capital return and provide for selective investments in attractive growth areas.
The Business Process Outsourcing (BPO) company will be an industry leader that helps clients improve the flow of work by leveraging its expertise in managing transaction-intensive processes and applying innovations to automate and simplify business processes. With approximately $7 billion in 2015 revenue – more than 90% of which is annuity based – the company is focused on attractive growth markets including transportation, healthcare, commercial and government services. As an independent company, BPO will have the focus and flexibility needed to continue to adapt to the changing needs of its clients, further refine its portfolio of services and pursue significant growth and margin expansion opportunities.
The leadership and names of the two companies will be determined as the separation process progresses.
According to Xerox, it has become increasingly clear that the Document Technology and BPO businesses serve distinct client needs, have different growth drivers, and require customized operating models and capital structures. Thus, the separation of the two businesses will enhance their competitive positions and create significant value creation opportunities.
Xerox also announced a three year strategic transformation program targeting a cumulative $2.4 billion savings across all segments. The program is inclusive of ongoing activities and $600 million of incremental transformation initiatives. The company expects $700 million in annualized savings in 2016.
“A core tenet of the strategic transformation we are embarking on today is changing and improving the way we operationalize our businesses. We have identified a plan to deliver cumulative reductions of $2.4 billion over the next three years as part of this process. I have instructed our teams to begin work immediately to deliver the efficiencies needed to achieve our goal,” Burns added.
Xerox will begin the process to separate into the two companies while it finalizes the transaction structure. Xerox’s objective is to complete the separation by year-end, subject to customary conditions, receipt of regulatory approvals, tax considerations, securing any necessary financing and final approval of the Xerox Board.
Until the separation is complete, Xerox will continue to operate as a single company and it will continue to be business as usual for our customers and employees.
News
GFH Partners Manrre REIT (CEIC) PLC and Palmon Group unveil new temperature-controlled chemical warehouse in JAFZA
GFH Partners Manrre REIT (CEIC) PLC (“Manrre” or “the Fund”), managed by GFH Partners Ltd. (“GFH Partners”), together with its development manager Palmon Group FZCO (“Palmon Group”), today announced the opening of a specialised temperature-controlled chemical warehouse in Jebel Ali Free Zone (Jafza), further expanding the Fund’s Grade A logistics portfolio.
The inauguration ceremony was held in the presence of Mr Abdulla Bin Damithan, CEO and Managing Director, DP World GC, alongside senior officials and dignitaries from Jebel Ali Free Zone, GFH Partners, and Palmon Group.
Purpose-built and developed by Palmon Group to meet stringent international safety and compliance standards, the new facility reflects the rising regional demand for certified chemical storage infrastructure that supports manufacturing, energy, industrial services, and third-party logistics. The warehouse is situated on a 180,000sq ft plot with a built-up area of 112,000 sq ft, divided into three temperature-controlled chambers that reach a maximum height of 13 metres. The warehouse has been designed with advanced Early Suppression Fast Response (ESFR), and in-rack sprinkler systems to ensure safety and resilience across all operations.
The facility’s layout allows storage of a diverse range of hazard-classified chemicals. One chamber is configured for UN Class 3 and 4 chemicals, a second accommodates UN Class 5 chemicals, while the third has been developed for UN Class 6, 8, 9 and non-regulated materials. The warehouse offers capacity for 17,400 pallets and includes nine loading docks and three loading bays. The office space has been intentionally limited to three percent of the total built-up area, maximising operational efficiency and warehouse utility.
Speaking on the launch, Kunal Lahori, CEO of Palmon Group and Board Member of Manrre, said: “This new facility brings together precision engineering, regulatory compliance, and long-term value creation. Specialised chemical storage requires a high degree of control and risk management, and we have developed this warehouse to meet those expectations while offering flexibility and scalability for tenants. As one of the earliest developers in Jafza, Palmon Group remains committed to supporting the UAE’s logistics and industrial growth.”
Mohamed Ali, Head of GCC at GFH Partners, said: “The opening of this warehouse marks another important milestone in the expansion of the GFH Partners Manrre REIT portfolio, particularly in mission-critical industrial and logistics assets that serve high-growth sectors. The UAE continues to see strong demand for specialised storage solutions, and this facility reinforces our strategy to develop resilient, future-ready assets that deliver long-term value for our investors.”
The logistics hub is now fully operational and is leased to Safe Logistics. The new facility is expected to play a significant role in strengthening regulated supply chains and supporting Dubai’s position as one of the region’s foremost logistics and industrial hubs.
News
Big Ticket joins DP World ILT20 Season 4 as Official Partner
Big Ticket, the largest and longest-running guaranteed raffle draw in the Middle East (known for cash prizes, dream luxury cars, gold bars and coins) has joined the DP World International League T20 Season 4 as an Official Partner.
In recent years, Big Ticket has become more than just a raffle, it has gained the reputation of being a brand built around rewarding dreams and celebrating ambition, growing into one of the region’s largest and one of the most anticipated monthly draws in the UAE.
DP World ILT20 – the 34-match cricketing extravaganza – the biggest T20 tournament in the region featuring some of the most renowned global cricket stars is currently being played at the Dubai International Stadium, Zayed Cricket Stadium, Abu Dhabi and Sharjah Cricket Stadium.

DP World ILT20 Head of Partnerships Ishan Chopra: “We are delighted to welcome a UAE born raffle giant like Big Ticket as an Official Partner of the DP World ILT20. Their legacy of helping dreams come true aligns perfectly with our vision of delivering unforgettable, fan-first experiences across the league. This partnership strengthens our commitment to creating moments of excitement both on and off the field, and we look forward to elevating Season 4 together. With a household name like Big Ticket on board, we are confident of unlocking even more opportunities for fans to engage, celebrate and go All In for Cricket.”
Meanwhile, DP World ILT20 match tickets across all categories are available for the remaining tournament matches. Various spectator stand tickets start at AED 20 and hospitality packages start from AED 325. Fans can also book the new Sixes Lounge experience for AED 395, which includes unlimited food and beverages. Tickets can be purchased by visiting tickets.ilt20.ae or Virgin Megastores.
News
The Maritime Standard Awards 2025 winners list showcases high levels of innovation and operational excellence across the maritime sector
The maritime sector’s leading awards event, The Maritime Standard (TMS) Awards 2025, has announced this year’s winners, honoring outstanding companies and industry leaders from across the Middle East and Indian Subcontinent. The Awards showcased achievement and innovation in 25 categories covering shipping, logistics, ship repair, offshore services, marine technology and related sectors, as well as a series of special awards for individual achievement. The prestigious event took place at Atlantis The Palm, Dubai on October 29th, attracting over 1000 senior executives, decision-makers and industry leaders, from the region, and across the globe.
Held under the patronage of H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, the event recognised organisations and individuals for setting new standards in operational excellence and leadership in the sector amid significant shifts in the industry, including decarbonisation, digitalization, and a renewed emphasis on supply chain resilience. From clean-fuel projects and AI-powered port operations to international collaborations that boost trade efficiency, the 2025 Awards showcased the industry’s progress in turning goals into tangible outcomes.
The evening was hosted by Yalda Hakim, a renowned international correspondent and documentary filmmaker, whose engaging presence added distinction to the occasion. The keynote address was delivered by Captain Abdulkareem Al Masabi, CEO of ADNOC Logistics and Services, who shared valuable insights on the evolving maritime landscape and the UAE’s leadership in advancing sustainable and innovative practices across the sector.
Clive Woodbridge, Editor of The Maritime Standard and Chairman of the Judging Panel, stated, “This year’s competition was exceptionally tough, and we received an unprecedented number of entries across all categories. Each finalist demonstrated remarkable achievements and operational standards over the past year, which underlines the significant advances that continue to be made in the regional maritime sector.”
A rigorous assessment process was conducted as part of the award selections, and this was supervised by an independent panel of distinguished judges that included some of the most prominent names in the maritime industry.
Trevor Pereira, Managing Director of The Maritime Standard, commented, “These Awards are not just about celebrating success, but also about encouraging excellence. This year’s event recognised innovative concepts, exciting new initiatives, and outstanding performance standards. As the region continues to expand its maritime infrastructure and digital port systems, with significant developments across the Middle East and the Indian Subcontinent, events like The Maritime Standard Awards play a key role in reinforcing its position as a global leader in shipping and maritime.”
Reaction from the individual winners on the night of October 29th was highly appreciative. Captain Mohamed Al Ali, Senior Vice President, Operations (Offshore Logistics), at ADNOC L&S, who received the Outstanding Achievement Award, added: “It was one of the greatest honours of my professional career to receive this Award. It really means a lot to me to have TMS recognise the years of dedication and hard work.”
Tony Dagher, the Founder and Managing Director of TMC Shipping Group was the recipient of the Young Person in Shipping and was similarly honoured. He said: “I have been fortunate to have had great support from many people during my journey in shipping, and to have a fantastic team around me now. This Award is as much for them as it is for me.
Over the past 12 years The Maritime Standard Awards has consolidated its standing as one of the most prominent annual gatherings within the global maritime calendar, gaining worldwide recognition for recognising excellence and promoting a more resilient and sustainable maritime future.

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