Commercial News

Sustainable fashion is not a trend, it’s a necessity, says e-commerce platform chief

30/03/2022
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DUBAI: For many, sustainable fashion is an interest or trend. For the founders of global sustainable e-commerce platform Plain Tiger, it’s a necessity.

Emirates airline chief sees return to profit next year

30/03/2022
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DUBAI: Dubai’s Emirates expects to significantly reduce losses in the current financial year and return to profit next year, the airline’s president indicated on Tuesday.

Silicon Valley’s Plug and Play Tech Center hopes to accelerate 100 Saudi startups in 2022

30/03/2022
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The Saudi Arabian Industrial Investments Co., known as Dussur and owned by PIF, Aramco and SABIC, has announced the signing of five new shareholders’ agreements.

Careem grows beyond original avatar; eyes ‘Super App’ status

30/03/2022
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Dubai-based Careem has expanded beyond its original avatar of a ride-hailing app to become a ‘Super App’ that includes a wide range of services such as food delivery, grocery shopping, cleaning, shipping and bike rentals. And this is just the beginning.

Saudi Arabia doles out $533m on startups in 2021, says Monsha’at official

30/03/2022
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Saudi Arabia is on the verge of an entrepreneurial boom thanks to the unwavering financial support offered by the Small and Medium Enterprises General Authority, or Monsha’at.

HyperPay gets regulator approval to boost e-commerce in Saudi Arabia

30/03/2022
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Local payment gateway HyperPay has obtained a permit from Saudi Payments to activate new “mada” services for its merchants in Saudi Arabia.

APICORP investment in renewable energy grows by 500% in the last 5 years: CEO

29/03/2022
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The volume of investment of Saudi Arabia’s Arab Petroleum Investment Corp. has increased by 500 percent over the last five years, its CEO told CNBC Arabia.

Hospitality giant Alhokair narrows 2021 losses on pandemic recovery

29/03/2022
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One of Saudi Arabia’s largest hospitality groups, Abdulmohsen Alhokair Group for Tourism and Development, narrowed losses last year by 14 percent to SR172 million ($46 million) as it began to recover from the pandemic.

Crypto exchange Bybit to move HQ to Dubai from Singapore

29/03/2022
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Bybit, a cryptocurrency exchange, has announced plans to move its headquarters to Dubai from Singapore as the UAE ramps up efforts to attract companies in the fast-growing industry, Bloomberg reported.

Kafalah Fund signs 10 agreements, MoUs worth $1.67bn to finance SMEs

29/03/2022
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Saudi Arabia’s Kafalah Fund signed 10 agreements and memorandums of understanding worth SR6.3 billion ($1.67 billion) with several entities at the Global Entrepreneurship Congress in Riyadh, Homam Hashem, the fund’s CEO, told Arab News.