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.
FNC proposes Euro-Mediterranean and Gulf AI hub at economic forum
The UAE's Federal National Council (FNC) has proposed the creation of a Euro-Mediterranean and Gulf artificial intelligence hub to boost investment, research and cooperation in one of the world's fastest-growing sectors.
UAE calls for stronger Euro-Mediterranean, Gulf cooperation
Federal National Council Speaker Saqr Ghobash has called for closer economic and parliamentary cooperation between Euro-Mediterranean and Gulf countries to help address rapid technological and economic change and support sustainable development.
Dubai's DGCX to launch region’s first Gold Spot T+0 Contract
The Dubai Gold and Commodities Exchange (DGCX) is set to launch a new same-day gold trading contract on Monday, June 22, in a move aimed at making physical gold transactions faster and more efficient.
AD Ports launches new logistics link between UAE and Iraq
AD Ports Group has launched integrated logistics services connecting Khalifa Port with Umm Qasr Port in Iraq, reinforcing commitment to enhancing regional connectivity and supporting existing trade corridors.
Kuwait plans to boost oil output to 2 million bpd in a week
Kuwait Petroleum Corporation (KPC) has plans to raise the country's oil production to two million barrels per day (bpd) within a week, amid the reopening of the Strait of Hormuz under a US-Iran peace agreement, said KPC's Deputy Chairman and CEO, Sheikh Nawaf Saud Al-Sabah.
In a post to mark Father's Day, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said we remain a reflection of their contributions long after they are gone.
The Dubai Civility Committee held its fifth meeting this week to review the latest initiatives to elevate the experience of residents and visitors in Dubai.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has marked Father's Day by posting a beautiful photography from his childhood, paying special tribute to Founding Father, the late Sheikh Zayed, and saluting "every father who follows in his footsteps".
