Funding
How Will VAT Impact UAE Consumers and Businesses?
As expected, one can see a surge in the number of people discussing the impending value-added tax (VAT) system in the GCC region. In the UAE, seemingly everyone, nationals and expatriates alike, have ...
Dubai Private Sector Growth Picked Up Pace in May
Dubai’s economic growth has accelerated as the emirate’s private sector saw sustained improvement in business conditions in May on the back of a sharp rise in new work. Private sector companies based ...
IT Support Platform Geeks Raises $600,000 in Seed Fund
Geeks.ae, a platform that helps connect consumers and business with Geeky resources to support their IT needs, raised a seed round of $600,000, led by Wamda Capital. The round also included Dubai-base...
Investcorp Explores Sale of Polyconcept
Investment firm Investcorp Bank is exploring a sale of Polyconcept, hoping a deal will value the world’s largest supplier of promotional products at more than $1.3 billion, including debt, accor...
Saudi Stock Exchange to Support SMEs
With the support and approval of the Capital Market Authority (CMA) and in effort to achieve the strategic objective of deepening the capital market and supporting the national economy, the Saudi Stoc...
General Motors Buys Self-Driving Car Startup for More Than $1 Billion
General Motors (GM) is continuing its self-driving car push with the news that it has acquired Cruise Automation. Cruise is a San Francisco-based self-driving car company that develops an autopilot sy...
Emirates NBD Launches Worthy.ae Portal
Emirates NBD , a leading bank in the region, has launched Worthy.ae, an online hub for financial and wellbeing content, as part of the bank’s commitment to responsible banking. Worthy.ae will in...
Souq.com Raises $275 Million in Funding
Souq.com has announced today that it has completed a funding round of more than AED 1 Billion ($275 million). The investment will support the company’s future growth, strengthen e-commerce in the regi...
Emirates Development Bank Reaffirms Support for UAE SMEs
Emirates Development Bank today underlined its commitment to Small and Medium Enterprises (SMEs) and entrepreneurs – the engine room of the UAE economy. Through its offices in Abu Dhabi and Dubai, Emi...