Dubai-based Careem acquires bike-share service, Cyacle

Dubai: Careem announced on Tuesday it has acquired Cyacle, a bike rental service, which will allow the ride-hailing app to grow its presence in the transport sector. Careem did not disclose the value of the deal, but said the acquisition will allow it to improve mobility in the region. “Many journeys are relatively short in […]

Gold gains on US-China trade, global downturn fears

Gold prices rose alongside other safe-haven assets on Wednesday as the trade rift between the United States and China showed no sign of cooling, with investors fearing a global economic slowdown. Spot gold rose 0.2 per cent to $1,281.03 (Dh4,704.52) per ounce by 10.35am EDT, while US gold futures were up 0.3 per cent at […]

WTO agrees to probe UAE’s complaint against Qatar on ban on Emirati Products

Geneva: The World Trade Organisation (WTO) on Wednesday agreed to look into the complaint filed by the UAE against the ban imposed by Qatar on Emirati products. The WTO has decided to constitute an arbitration committee to investigate the UAE’s complaint. The UAE had said that the Qatari ban on Emirati products is a violation […]

Value of UAE’s non-oil trade at Dh1.63 trillion in 2018

Dubai: The value of non-oil foreign trade in the UAE reached nearly Dh1.63 trillion in 2018, up slightly from the Dh1.61 trillion in 2017. Figures from the Federal Customs Authority (FCA) on Tuesday showed that within non-oil trade, the value of exports rose by 1.8 per cent to Dh212 billion. Re-export values reached Dh478.4 billion […]