Top business stories you missed last week
Here are the top seven business stories from the Middle East you probably missed this week:
Tourism growth driving demand for more malls in the UAE
According to Dubai Chamber, Dubai is estimated to have around 717,000 square metres of new retail space by 2018, while Abu Dhabi is expected to see a supply of 467,000 sq. meters of new space over the same period. (READ MORE)
Emirates profits plunge 82 per cent as Trump, terrorism hurt travel demand
Emirates Airline reported first decline in full-year profits in five years as Dubai-based carrier faced serious economic and political headwinds last year. (READ MORE)
5 ME startups acquire more than $25m in funding
Updated figures from 2016 show that it was a record year in MENA startup funding with $889 million acquired from 120 disclosed deals. Three notable acquisitions include Amazon’s purchase of Souq and Payfort for $650m in Q1 2017. (READ MORE)
Saudi Vision 2030: what region’s businesses need to know
“Informed analysis of the rapidly changing political, economic and social landscape in the kingdom will be vital to seizing the opportunities presented by Saudi Vision 2030.” (READ MORE)
10 things you need to know about ME luxury retail sector
The global luxury industry, led by luxury cars, luxury hospitality and personal luxury items, grew by four per cent in 2016 to total approximately $1.1 trillion. (READ MORE)
More UAE nationals taking up private sector jobs?
Marking a paradigm shift in the conventional mindset of UAE nationals seeking employment, a recently concluded survey reveals that about 57 per cent of them showed interest in working for the private sector. (READ MORE)
Time to focus on OPEC now that France is out of sight?
Investors have arrived in full force to exploit the opportunity to sell the Euro at its highest level since November 2016, with the EURUSD now appearing at risk to dropping back below 1.09 after briefly climbing above 1.10 when the markets opened for the week following confirmation of Macron becoming the new President of France. (READ MORE)