Business News

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Social media giant facebook has acquired an app that encourages teens to compliment each other.  Since its launch in August, the app – called tbh (“to be honest”) – has already been downloaded 5 million times, and users sent over a billion messages. It will operate as a standalone programme on facebook, much like WhatsApp […]

Dubai Holding says it is re-evaluating AED 74.3 billion Jumeirah Central development to meet expected future demand. However, the company says it is committed to continuing the 47 million square foot project. An organisational restructuring will see COO Morgan Parker stepping down at the end of the year. 

AED 113 billion worth of electronics trade is currently handled at Dubai’s Jebel Ali Free Zone, JAFZA. That’s around 38 per cent of the total value of JAFZA trade of AED 294 billion. More than 1,150 electronics firms from 87 countries are operating there, with over 9,200 employees. These companies also occupy 1.3 million square metres […]

Dubai Electricity and Water Authority (DEWA) has launched an investment company in Silicon Valley. The Jumeirah Energy International Silicon Valley Company will build ties with universities and research bodies, and look for opportunities linked to research and development (R&D) and innovation It also plans to create the world’s largest government accelerator programme.

The UAE is the region’s best managed economy, according to the latest report released by the Institute of International Finance (IIF).  It’s latest economic output put non-oil GDP growth at 3 per cent for 2017, and overall growth at 1.5 per cent.  The institute’s regional Chief Economist said the country’s financial buffers, infrastructure and safe haven […]

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