Emirates Business Theluxurycloset.com, the fast growing online marketplace that buys, sells, and consigns personal luxury goods, mostly pre-owned and at a discounted price, announced that it has closed a $7.8 million Series B round of funding. The financing was led by Wamda Capital, a venture capital firm investing in technology-enabled companies in the MENA region, and Middle East Venture …

  ALGIERS / Reuters Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources within the exporter group said the differences between the kingdom and Tehran remained too wide. “This is a consultative meeting … We will consult with everyone else, we will hear the views, we …

  Bloomberg Global oil output will exceed demand until late 2017, the head of the International Energy Agency said before major producing nations gather for talks. “We don’t see the oil market re-balancing until late 2017” provided there’s no “major intervention,” IEA Executive Director Fatih Birol said Tuesday in an interview with Bloomberg Television in Algiers. The Paris-based agency is …