Italy open to picking stake in Renault-FCA

Rome: Italy would be open to taking a stake in the proposed merger between Renault SA and Fiat Chrysler Automobiles NV, as long as the deal triggers economic benefits for the country, according to a government undersecretary. “Our government is open to investment, provided that this brings a positive impact in terms of economic growth […]

Dubai’s pre-owned luxury retailer has Asia in its sights

Dubai: The Luxury Closet, a Dubai-based online retailer selling pre-owned fashion, will use the $11 million raised to bolster its presence in southeast Asia. The business has so far raised $21 million in funding from the likes of Wamda Capital and Middle East Venture Partners. Kunal Kapoor, who started the business in 2012, said The […]