Fashion e-commerce has been given a boost in the UAE, after Dubai's Emaar Malls bought the remaining 49 per cent share of Namshi for more than AED 475 million.
The online portal currently has 1.2 million active users making it the largest fashion online retail space regionally.
Patrick Bousquet-Chavanne, CEO of Emaar Malls, says it made sense to add the internet retailer to the portfolio.
The Dubai firm had bought a 51 per cent stake in Namshi for $151 million in May 2017.
Blinken to meet businesses in Shanghai as he kicks off tough China trip
US Secretary of State Antony Blinken will meet business leaders in Shanghai on Thursday as ties between Washington and Beijing stabilise, pushing to resolve a raft of issues threatening the newly gained equilibrium between the rivals.
Tesla promises 'more affordable' cars after shelving all-new Model 2
Tesla said it would introduce "new models" by early 2025 using its current platforms and production lines as it retreated from more ambitious plans to produce an all-new model that had been expected to cost $25,000.
UAE, Oman establish investment partnerships worth AED 129 billion
The UAE and Oman have agreed to establish investment partnerships worth AED 129 billion.
Spinneys sets IPO price range at AED1.42-AED1.53
Supermarket chain Spinneys is seeking to raise as much as $375 million from the sale of a 25 per cent stake in an initial public offering, it disclosed on Tuesday.
Meta opens Quest operating system to third-party device makers
Meta Platforms is sharing its Quest headset's operating system with rival device makers, including Microsoft, for the first time, it said on Monday, as it works to extend its influence over the emerging virtual and mixed reality industry.
1:00pm - 2:00pm
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Every weekday afternoon, Helen Farmer will help you to navigate the highs and lows of life in the UAE. Stay up to date with what’s happening and where to go.
John Lyons of Espace Real Estate says there is a slight slowdown in the property market during summer. So we asked him, does this mean prices are negotiable during the summer months?
Lawyer Rebecca Kelly of Clyde & Co. explained why UAE judicial authorities are setting up new offices to deal with financial crime, including money laundering.
Airalo - an eSim company disrupting telco's roaming revenues, has raised $60 million in funding including investment from our own e&.
It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.
The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.
