Uber announces $3.1 billion deal to buy Mideast rival Careem

March 27, 2019 8:47 am0 comments
Uber announces $3.1 billion deal to buy Mideast rival Careem

Announcement comes as US-based firm prepares to file in April for an IPO 27/03/2019  Wednesday ,  Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi has cut the largest deal of his tenure, buying Middle Eastern ride-hailing competitor Careem Networks FZ for $3.1 billion. Uber will pay Dubai-based Careem $1.4 billion […]

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TAMM centres now offer 246 services under one roof

8:14 am0 comments
TAMM centres now offer 246 services under one roof

Customer satisfaction rated at 97% with over 107,000 transactions since November 2018 27/03/2019  Wednesday ,  Abu Dhabi: TAMM centres in Abu Dhabi are now able to handle at least 246 different services since they were launched last year, offering a seamless experience for those carrying out government or private related […]

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Portfolio investment flows to UAE, rest of GCC to increase

7:57 am0 comments
Portfolio investment flows to UAE, rest of GCC to increase

Portfolio debt inflows to increase from $51b in 2018 to $64b in 2019 27/03/2019  Wednesday , Dubai: Portfolio investments into Gulf cooperation Council (GCC) countries, which include the UAE, are expected to surge this year, particularly from investors buying regional debt instruments. “The inclusion of regional debt and equities into […]

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Refiners invest $1 billion to meet shift to cleaner marine fuel

7:44 am0 comments
Refiners invest $1 billion to meet shift to cleaner marine fuel

Firms aim to meet new regulations coming into force in 2020 27/03/2019  Wednesday ,  Fujairah: Refiners around the world have invested about $1 billion so far to produce low-sulphur marine fuel to meet new regulations coming into force in 2020, a BP executive said on Tuesday.  International Maritime Organization (IMO) rules […]

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Private capital flows into UAE to pick up in 2019

7:37 am0 comments
Private capital flows into UAE to pick up in 2019

Political stability, friendly business environment, diversified economy to draw investors 27/03/2019  Wednesday , Dubai: The UAE will remain the main regional destination for foreign direct investment (FDI) inflows in 2019 supported by political stability and a friendly business environment, and a relatively diversified economy, according to the Institute of International […]

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Russia’s Sberbank eyes Islamic banking opportunities

7:29 am0 comments
Russia’s Sberbank eyes Islamic banking opportunities

Top executive says segment has huge potential in Russia due to its large Muslim community 27/03/2019  Wednesday , Abu Dhabi: Sberbank, Russia’s largest bank is exploring opportunities in the UAE and the Middle East as it pushes to expand its business in Islamic banking and other sectors, a top executive […]

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Jet Airways chair, founder resigns

March 26, 2019 8:45 am0 comments
Jet Airways chair, founder resigns

Board accepts Goyal’s resignation, outlines plans for immediate funding Dubai: Jet Airways’ board of directors on Monday approved the resignation of its founder and chairman, Naresh Goyal, as the Indian carrier gasps under debts of over $1 billion and suspended operations.  Goyal will cease to be both chair and director […]

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UAE’s Adnoc signs Dh626 million oil, gas exploration deal with Indian consortium

8:20 am0 comments
UAE’s Adnoc signs Dh626 million oil, gas exploration deal with Indian consortium

Indian firms to have opportunity to develop, produce any oil, gas discoveries  26/03/2019, Tuesday -Abu Dhabi National Oil Company (Adnoc) on Monday signed agreements awarding the exploration rights for “Abu Dhabi Onshore Block 1” to a consortium of two Indian oil companies, Bharat Petroleum Corporation Limited and Indian Oil Corporation […]

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UAE gold jewellery prices inching closer to record highs; more increases likely this week: Time to buy or wait?

8:02 am0 comments
UAE gold jewellery prices inching closer to record highs; more increases likely this week: Time to buy or wait?

After vaulting to highest level in weeks on Thursday, gold again set to increase in value 26/03/2019,Tuesday, Dubai: The precious metal is again inching closer to record highs and gold jewellery buyers in the UAE can expect to spend more when they hit the shops this week. Retailers across the […]

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Apple launches new TV streaming service, credit card, and gaming service

7:44 am0 comments

Spielberg, Carell, Winfrey and Anniston appear on stage to launch new TV shows 26/03/2019,Tuesday, Cupertino: Apple unveiled a range of new products on Monday morning, moving away from hardware and gadgets towards digital services such as TV streaming and mobile payments, as it attempts to write a new chapter in […]

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