Tuesday, May 23, 2017

Business News

2016 was record year for digital investment in UAE

In 2016, the MENA region witnessed a record year in technology start-up funding. More than AED 3.3 billion was invested, which is more than the total value of investments between 2013-2015 combined. That’s according to a new report by Dubai SME, which also revealed that the UAE has led the ...

Read More »

Dubai’s trade with Qatar grows 92% between 2011 and 2016

Dubai’s trade with Qatar reportedly grew 92 per cent in the period from 2011 to 2016. According to national news agency WAM, it reached AED15 billion last year, compared to AED 7.8 billion in 2011. The Gulf Cooperation Council (GCC) customs union is reportedly trying to integrate the GCC countries ...

Read More »

Oman looking to raise $2 billion in Islamic bonds

Oman is looking to raise $2 billion by issuing Islamic bonds this month. That’s what Finance Minister Darwish Al-Balushi has told Bloomberg. Lower oil prices have created a budget deficit expected to reach 12 per cent this year. Al-Balushi said the government had taken several fiscal and economic reform measures, ...

Read More »

US and EU reject expanding laptop ban to Europe

US and EU officials have reportedly agreed not to impose a ban on laptops and tablets in cabin baggage on flights from Europe. The officials, however, have agreed to consider other security measures during the four-hour talk in Brussels. Following the eight-country ban on electronics in carry-on luggage in March, ...

Read More »

Alabbar’s $1bn e-commerce site Noon set for 2017 launch

Noon, the much-awaited regional e-commerce venture, will launch later this year, according to founding partner Mohammed Alabbar. Alabbar said the $1 billion e-commerce site has been going through beta testing and refinement, and is setting up partnerships with distributors and retailers. In a statement, he said, “noon will lead the ...

Read More »