Wallenberg family fortune feels the sting of Brexit and Trump

Stockholm. The holding company that manages about $37 billion in assets for Sweden’s Wallenberg family says political risk stemming from trade wars and Brexit could have serious repercussions for a number of its investments. Johan Forssell, the chief executive officer of Investor AB, says some of the companies it owns are building up inventory in […]

Uber to introduce new lightweight app for Middle East

Dubai: Uber will soon launch its latest product, Uber Lite, throughout the Middle East, as the ride-hailing company intensifies its drive into the region ahead of its landmark initial public offering (IPO) later this year. Facing stiff competition from local rival Careem, Uber is investing heavily in its Middle East and North African operations, the […]

UAE cabinet to allow trading companies to issue IPOs

The UAE Cabinet on Sunday adopted an amendment to the country’s Commercial Agencies Law, which would allow trade agencies to convert into public shareholding companies. Trade agencies are a popular method of doing business in the country, created when a UAE entity, typically a family-owned business, entered into an agreement with international agents or distributors. […]

DAFZA supports Dubai’s efforts to become a premier destination for investments

Jamal Bin Marghoob, Director of the Marketing & Corporate Communications department at DAFZA, on the free zone’s operations and services Have you witnessed any growth in the number of your registered companies this year? In the first half of 2018, Dubai Airport Freezone Authority (DAFZA) announced strong business results, showing an 11 per cent growth in […]

Saudi crown prince seeking $425b for infrastructure

Crown Prince Mohammed Bin Salman, who’s already embarked on the biggest overhaul of the Saudi economy in its modern history, is preparing to roll out details of a sweeping plan to develop infrastructure and industry across the Middle East’s biggest country by area. Saudi Arabia is seeking 1.6 trillion riyals (Dh1.5 trillion) of investment in […]