RIYADH: Pakistan-based fashion e-commerce startup ‘Clicky’ has raised $2.4 million in a pre-Series A round led by early-stage investors in the UAE and Pakistan, Magnitt reported. The startup aims at using the newly-acquired funding to scale its private-label product, through working directly with the manufacturers and fashion designers. Clicky, founded in 2016, offers fast fashion products with … Read more
RIYADH: Hotels in Dubai are raking in huge profits due to high-profile international events taking place in the emirate. Expo 2020 and T20 Cricket World Cup boosted Dubai hotels’ gross operating profit per available room to SR668 ($178), while the total revenue per available room of hotels amounted to $316 in October, according to an … Read more
RIYADH: The US-based investment bank Citigroup has chosen favourable bidders for its consumer assets in Asian markets. The investment banking company chose Bangkok’s Bank of Ayudhya to buy its retail assets in Thailand, with an expected potential $2 billion deal to be negotiated in the coming weeks, Bloomberg reported. Citigroup has picked Singapore-based United Overseas Bank in … Read more
DUBAI: The United Arab Emirates’ move to a Western-style Saturday-Sunday weekend is an attempt to maintain its edge over rising regional competitors, experts said. The wealthy state surprised many with Tuesday’s announcement, which will make it the only Gulf country not to observe weekends on a Friday, the Muslim day of prayer, and Saturday. The … Read more
JEDDAH: While all eyes in Abu Dhabi will be on the headline drama of the title fight between Lewis Hamilton and Max Verstappen this weekend, another world champion will be making his final appearance in a Formula One car. Twenty years after making his F1 debut for Sauber at the 2001 Australian Grand Prix, Finnish … Read more
ROME: The owners of the Borouge polyolefin plant in the UAE have signed a $3.5 billion contract to extend the site, which will make it the biggest plastics plant of its kind in the world, Arab News reported. Italian oil and gas engineer Maire Tecnimont has been awarded the contract to work on the Borouge 4 facility, … Read more
ABU DHABI: The United Arab Emirates is slashing its working week to four-and-a-half days and moving its weekend from Fridays and Saturdays to Saturdays and Sundays, officials said on Tuesday. “The UAE is the first nation in the world to introduce a national working week shorter than the global five-day week,” official news agency WAM reported. The … Read more
ISLAMABAD: The Board of Investment organised an online Investment Promotion seminar to apprise the potential foreign investors on investment policies and potential in Pakistan, a statement said. The theme of the seminar was “Investment opportunities in education and innovation in technologies”. Board of Investment (BoI) secretary Fareena Mazhar said that the government is committed to … Read more
LAHORE: Zameen.com organised the Pakistan Property Event (PPE) 2021 in Dubai, a statement said. Overseas Pakistanis from the Gulf region expressed interest in 125 projects on display from Lahore, Karachi, Islamabad, Peshawar, Faisalabad, and Multan, it added. Zameen.com’s head of UAE region Aatif Rana said that the event had provided overseas Pakistanis direct access to … Read more
LONDON: Oil rose for the second day on Friday after Opec+ said it would meet again to review output if the Omicron Covid-19 variant impacts demand, Arab News reported. Prices were still headed for the sixth week of declines on concern a steady increase in supply from the Organization for Petroleum Exporting Countries and its allies including … Read more
PARIS: A 17-billion-euro ($19.23 billion) French arms deal with the United Arab Emirates will secure the industrial supply chain for France’s Rafale warplane for the next decade and directly support 7,000 domestic jobs, Reuters quoted a French defence ministry official, as saying. The deal, sealed on Friday, includes the largest ever overseas sale of the French warplane. … Read more
ISLAMABAD: The United Arab Emirates (UAE) has been the biggest trade partner of Pakistan in the Middle East and North Africa (MENA) region with a trade volume of more than $8 billion, the Pakistani foreign minister said on Thursday, congratulating the Gulf state on its 50th National Day, Arab News reported. The statement came during a grand … Read more
BEIJING: Li Tie was replaced as China’s coach on Friday after weeks of intense media pressure and speculation, with their hopes of reaching the 2022 World Cup all but over. The former Everton midfielder, 44, quit and has been succeeded by Li Xiaopeng, who had been in charge at Super League side Wuhan FC, the … Read more
RIYADH: Gulf Cooperation Council (GCC) economies are likely to achieve an aggregate growth rate of 2.6 per cent in 2021, Arab News quoted the World Bank Gulf Economic Update, as showing on Thursday. The report, titled “Seizing the Opportunity for a Sustainable Recovery”, attributed the rebound to stronger oil prices and the growth of non-oil … Read more
LAHORE: Qasim Akram will lead the 15-player Pakistan U19 squad in the ICC U19 Men’s Cricket World Cup which will be played in January-February 2022 in the West Indies. The Lahore-born Qasim will also captain the team in the U19 Asia Cup that will be played in the UAE later this month. The junior selection … Read more
ISLAMABAD: Owing to the policy interventions and incentivising the local farming communities, Pakistan has achieved a bumper rice crop, estimated over 9 million tonnes during the current season, compared with the output of 8.4 million tonnes during the same period of the last year, a government official said. Addressing a press conference, Minister for National … Read more
JEDDAH: Saudi Arabia’s budget airline flyadeal aims at nurturing and promoting local women talent, as it is doubling its fleet by the end of the next year, its chief commercial officer told Arab News. Ahmed Albrahim said the low-cost airline’s fleet contains 15 A320 narrow-bodies, and it will continue to receive more aircraft of the A320 … Read more
RIYADH: Gulf Capital, a financial institution based in the UAE, has added Dubai and Abu Dhabi to the list of possible markets for the initial public offerings of one of its assets in 2022, CEO Karim El-Solh told Al-Bayan paper. The return of IPOs in Dubai and Abu Dhabi financial markets have encouraged the company to consider … Read more
Former Pakistan left-arm pacer Mohammad Amir on Thursday said that it be great if bilateral series between arch-rivals, Pakistan and India, will take in the near future. He also backed the chairman of the Dubai Cricket Council Abdul Rehman Falaknaz’s offer to host the series in the UAE. The two countries last faced each other … Read more
ISLAMABAD: Estate developers from Dubai, attracted by incentives and conducive environment provided for the construction industry, are set to enter Pakistan with billions of rupees investment. For Pakistan’s real estate sector, a Dubai-based Samana Developers has signed a key partnership agreement with H&S Real Estate, it was announced at a joint press conference in Dubai, … Read more
DUBAI: The United Arab Emirates has announced a $10 billion fund for investment in Turkey, the official Emirati news agency WAM said. The announcement comes after Abu Dhabi’s Crown Prince Sheikh Mohamed bin Zayed Al Nahyan held talks with Turkish President Recep Tayyip Erdogan in Ankara on Wednesday, opening a new chapter in relations between the two … Read more
KARACHI: The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), one of the world’s most influential energy sector event, took place from November 15 to 18, 2021 in Abu Dhabi National Exhibition Centre (ADNEC), United Arab Emirates, under the patronage of the president of the United Arab Emirates, a statement said. Pakistan’s leading national oil … Read more
ISLAMABAD: Chairman of Dubai Cricket Council (DCC) Abdul Rahman Falaknaz, believes UAE could be the perfect neutral venue for Pakistan-India to hold the bilateral duels saying the game of Cricket brings people together. After hosting the second half of the Indian Premier League (IPL) and then the ICC Twenty20 Cricket World Cup, DCC has expressed … Read more
DUBAI: It seems only fitting that the world’s biggest computer chip, developed by US-based Cerebras, be deployed in the Middle East, home to some of the world’s entertaining superlatives, biggest tower, deepest swimming pool, among many other ‘firsts’, Arab News reported. But this chip, roughly 9 inches on each side, promises more than just entertainment and a … Read more
DUBAI: The UAE’s industry minister has said that the coronavirus disease (Covid-19) pandemic taught the world several lessons and there is a need to strengthen industrial capabilities and control costs, Arab News reported. Sultan Al-Jaber was speaking at the Global Manufacturing and Industrialisation Summit at the Dubai Expo. Al-Jaber focused on ways to accelerate the recovery from … Read more
LAHORE: Punjab is fast becoming investors’ destination because the province has not only attracted new international brands but the existing local and global players have also expressed satisfaction and enthusiasm by expanding their presence and operations. According to Industries Department’s spokesman, provincial Minister for Industries, Commerce and Investment Mian Muhammad Aslam Iqbal expressed these views, … Read more
RIYADH: Kitopi, the world’s leading managed cloud kitchen platform, has invested in multiple regional food and beverage groups as part of its next phase of growth, according to a company statement. The Dubai-based company has begun initial investments in Cloud Restaurants (famous for Go! Greek and Go! Healthy), Leap Nation (famous for Tawook Nation and … Read more
Former Pakistan left-arm fast bowler Mohammad Amir has been tested positive for the coronavirus. Following this, he will miss the T20 League scheduled to start from November 19 in Abu Dhabi. Amir, who was all set to represent the T10 franchise Bangla Tigers in the fifth instalment of the league, urged his fans for his … Read more
