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Last Updated: Wed, May 24 2017 | 4:31 PM |

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Company committed to towing icebergs to UAE despite ministry saying it is 'untrue'

The plans to tow icebergs from Antarctic to Fujairah is moving ahead, according to National Advisor Bureau (NAB) managing director.His comments come after the UAE Ministry of Energy said there was no truth...

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Posted by: Steve May 18, 2017 5:16 PM [U.A.E]

Cool!!!

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Dubai's three-day shopping bonanza starts today

Dubai retailers are gearing up for a three-day ‘Super Sale’ in the emirate starting Thursday May 18.More than 750 retailers across the emirate – more than 250 brands – will slash prices, knocking between...

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Posted by: Mark Z May 18, 2017 5:18 PM [Argentina]

Most of the sales in Dubai or the UAE are gimmicks every year. If these were genuine sales, then price reductions would apply to most items that people buy and not only unwanted junk, which the shops have been trying to get rid of. These so called are honey traps to attract the Bees. Once in the web, you become an impulsive buyer to buy junk (+90%) that you really do not need. A very well-tested formula that works very well in Dubai and the UAE. There are outlets which have 75-90% Sales throughout the year. Most people living in UAE would know which ones, but it's the innocent visitors who are the suckers.

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More costly to operate e-commerce site than store in mall, say Chalhoub

Luxury retail giant Chalhoub Group says the operating costs of a retail e-commerce website are higher than those of a brick and mortar shop in the short term.Speaking to Arabian Business, the group’s co...

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Posted by: some bloke May 19, 2017 12:21 PM [UAE]

"If you are in a mall… the traffic is coming to you". This to me is everything wrong with the attitude of retailers in the UAE.

The "if you build it they will come" thinking will quickly become irrelevant - if it hasn't already done so.

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Exclusive: Alabbar says Noon to move base to Saudi, launch in 2017

Mohamed Alabbar has confirmed that his e-commerce platform noon is to relocate its permanent base to Riyadh after going live later this year.In a statement released, Alabbar – who is also chairman of Emaar...

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Posted by: 20yearDubaian May 17, 2017 11:26 AM [uae]

Wasn't Noon meant to launch in Jan 2017 - then a couple of months later - then there was a desperate failed attempt to buy Souq and now they are trying to buy everything else. Now they are moving to Saudi. Is this normal?
Personally I think more people would have been rooting for Noon to succeed had it not been the fact that the exact people that are behind it are the same people behind the collapse of retail and ruining of so many business and lives in Dubai (high mall rents, high community and service costs, unreasonable revenue share), and generally the pushing up of cost of living.
Looking forward to next month for RTA's flying taxis! (it was June wasn't it?)

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Souq sale is a game changer for e-commerce in Dubai and beyond

Amazon, the world’s largest online retailer by sales and market capitalisation, founded 23 years ago in Seattle and with localised operations in 15 countries, has just acquired Souq.com, the Middle East...

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Posted by: VC investor May 17, 2017 11:27 AM [UAE]

"However, with an overall 1.5x return-on-investment (Souq.com has received a total investment of $425 million and was reportedly sold for $650 million), the deal must have left at least some of Souq.com’s investors only moderately happy. After all, the last investment Souq received a year ago was at a $1 billion valuation."

I think more specifically, You have two investor camps. The investors that initially invested up to $125m in early rounds who are definitely happy, and the ones that came very late in the game at pre-money at $900m in 2015 when souq raised another $300m for post money of $1.2Bn, who are not happy and probably realized a big loss or at best a return of their capital.

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Dubai Real Estate Court settles case worth $4bn

The Dubai Real Estate Court has settled a real estate lawsuit worth $4 billion (AED15 billion) by reaching a compromise with all parties based on the interest of the country’s economy and real estate market...

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Posted by: Frankiejo May 17, 2017 11:28 AM [US]

For a case of $4bil the details are very light. No mention of the firms nor the properties. Does the settlement have any effect on end buyers of the properties. Pretty poor transparency

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Sheikh Mohammed launches Dubai's new $1.7bn mega-project

Dubai Ruler Sheikh Mohammed has announced the launch of Marsa Al Arab, Dubai Holding's latest tourist destination development in the emirate.The $1.7 billion (AED 6.3bn) mega-project, spread across 4 million...

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Posted by: Emma May 17, 2017 11:28 AM [USA]

In Amish country a barn is put up in a day. In Dubai, with enough funding and people, this project will most likely succeed in the timeframe required (2-3 years) without delay.

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Damac confident of Dubai real estate despite profits falling

Dubai’s Damac Properties reported a 16.20 percent decline in the first quarter 2017 net profit on Monday despite revenue rising 20 percent.The developer reported a net profit of $239.78 million (AED880m...

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Posted by: Amro Ahmed Amer May 16, 2017 11:44 AM [United States]

Receding profits is one thing but a natural market's desire to work in certain territories might fade. The secret behind an area's longevity is behind its ability to attract the magnanimous love of a general public without solely depending on supernatural financial and deal flow intelligence. New York City for example has almost perfected the idea of being a place of cinematic history, a population of noticeable character and a city where only the most daring entrepreneurs start their journeys. Dubai is already a beautiful place to see, the city's influential elite must come together and let go of how attractive their have been so far and start investing in the things money cannot directly take care of.

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2

KSA is elected to the UN Women's Right Commission. Yes, you read correctly

The United Nations recently announced that Saudi Arabia was elected to a seat on the UN Women’s Rights Commission. The Kingdom is now one of 45 countries sitting on a panel charged with promoting women...

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Posted by: Angham May 16, 2017 11:46 AM [United Kingdom]


Thank you Rola for such an insightful article.

I fully support this election and I agree with Rola that this is a great step forward. A very clever and planned decision to push the country towards a wider commitment to Saudi Women's rights. Hoping that a day will come when we see more of Middle East countries sitting next to Saudi Arabia at the UN Women’s Rights Commission.

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Yemen strongman Saleh open to talks with Saudis

Yemen's ex-president Ali Abdullah Saleh is open to negotiations with rival Saudi Arabia, two years into a deadly war between Saleh's Huthi rebel allies and the Saudi-backed government."We have no choice...

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Posted by: Farage May 16, 2017 11:46 AM [Tanzania]

Speaking with the same breath wanting to negotiate with the Saudis and hoping to form an alliance with Iran locks Saleh, Yemen and the regional powers in a catch-22 situation. The only way forward for Yemen is to de-regionalise it for the sake of what is left of its pride, and to let it sort out its own mess.

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