The Dubai Financial Services Authority has issued a warning on ICOs (initial coin offerings) to investors. The agency said: “The DFSA wishes to highlight that these types of product offerings, and the systems and technology […]
Souq.com has been bought by Amazon (NASDAQ:AMZN) for an undisclosed amount. It is a day after a counteroffer of $800M from Dubai’s Emaar Malls became public. “Amazon and Souq.com (Private:SOUQ) share the same DNA. We’re […]
Tesla (NASDAQ:TSLA) is set to start accepting online orders for the Model S and Model X in United Arab Emirates, reports Bloomberg. The local service center is expected to be opened in July and deliveries […]
Careem is one of ride-hailing Uber’s lower profile rivals in emerging markets. It has taken a step into the global limelight today after it announced that it has raised $350 million. The round was led by Japanese […]
Nokia is collaborating with the United Arab Emirates General Civil Aviation Authority for developing an end-to-end ecosystem to support an unmanned aerial network. At the heart of the new system is Nokia’s (NYSE:NOK) UAV Traffic […]
Hyperloop Technologies Inc., a Los Angeles-based company building a futuristic transportation system, said it raised $50 million in convertible-debt financing and hired Uber Technologies Inc.’s former chief financial officer. DP World Group of Dubai, one […]
Dubai is seeking $2.5 billion in loans to finance a 15-kilometer (9-mile) extension of its above-ground metro line to the World Expo site, according to two people with knowledge of the plan. Banks submitted proposals […]
Dubai-based online retailer Souq.com, known as the Amazon of the Middle East, is planning to sell a stake of about 30 percent that would give the company a value of at least $1.2 billion, people […]
Companies based in the Dubai International Financial Center increased 16% in the first half of this year, despite weak oil prices and a slowing global economy. More than 20,000 people work in the business park, […]
Emirates, the world’s biggest airline by international passenger traffic, is seeking to raise as much as $2.5 billion to fund the purchase of Airbus Group SE A380 superjumbos, according to two people with knowledge of […]
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