Business News

RAKEZ will function to support the vision of making Ras Al Khaimah a leading investment destination for global investors, contribute to the Emirate's economic growth, and make it easier for businesses to start and scale in RAK.

The first quarter of 2017 has been hectic, but a rewarding time for UAE-based startup Ekar, a pay-as-you-drive car rental service.

Student developers, Microsoft is looking for the next big innovation from the student community, and here's your chance to show off your best software solution.

KBW also announced that Crestmount Capital's maiden Crestmount Fund I, a Sharia-compliant real estate investment fund, has managed to close subscription of its entire commitment worth AED267 million.

In line with the Blockchain Strategy unveiled by Dubai in October 2016 -a vision to become the first blockchain-powered city by 2020- Smart Dubai Office (SDO) and global entrepreneurship network 1776 are looking for startups, which can transform conventional industries using their blockchain technology.

The startup believes that the deal is a shot in the arm both for the group's ambitions to "build the #1 modern and tech powered new media company in MENA," and the region's larger new media space.

Over 30 sessions, insights of 80 speakers, more than 15 hours of workshops, four challenges, and much more await participants at ArabNet Beirut 2017.

"What's for lunch?" This is a question that occupies the minds of most working professionals every afternoon, and a problem that UAE-based food tech startup Lunch:On set out to solve.

The investment comes from IFC's $30 million commitment towards the Startup Catalyst initiative that backs funds and accelerators in emerging markets.

QDB has a launched a multi-service support center called "One Stop Shop" at Qatar Business Incubation Center's campus to cater to a host of SME needs, thereby creating an approachable framework for Qatar's small business community.

MoveSouq has closed a US$3 million Series A funding round led by AddVenture, a Russia-based global venture capital firm.

The Venture, a global competition staged by Chivas, is back to seeking up and coming promising startups that also have positive impact.

After creating a platform for bilateral business relations with its 2015 edition, which was inaugurated by India's Finance Minister Arun Jaitley, the UAE India Economic Forum (UIEF) is back this year with UIEF 2016, set to take place on October 19-20, 2016 at Madinat Jumeirah in Dubai.

The UAE Cabinet on Sunday approved a federal law on bankruptcy, a legislation, which the Cabinet hopes, will have a "positive impact on the national economy enabling it to adapt to changes, and support businesses to achieve optimum performance."

Deciding which online food delivery website to use just got easier for Saudi Arabia's consumers.

With respect to the transportation sector, the UAE looks to be keen on stepping up its game.

Abraaj Turkey Fund I targets "well-managed, mid-sized businesses" operating in sectors such as consumer goods and services, healthcare, financial services, logistics and retail.

Besides an opportunity for startups to work closely with industry leaders and government partners, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai also announced an investment of AED1billion to the program.

Mubadala, an investment and development company, has been focused on diversifying Abu Dhabi's economy away from its oil assets.

Mohamed Alabbar, founder of Alabbar Enterprises, and Chairman, Emaar Properties, has led two investor groups that acquired a combined 16.45% stake in logistics major Aramex, says a Bloomberg news report.

The deal brings three reputed hospitality brands -Fairmont, Raffles and Swissotel- into Accor's network.