ALKESH SHARMA / Emirates Business Economic diversification, through reducing dependence on oil revenues, is the only path to success in the UAE’s corporate ecosystem. Small and Medium Enterprises (SMEs) and start-ups, which are considered the backbone of any economy, could play a crucial role in facilitating this diversification. Buoyed by the great government and bank support, SMEs and start-ups ...

  ALKESH SHARMA / Emirates Business At a time when most of the leading economies worldwide are struggling with the woes of financial meltdown, Islamic economies are among the fastest-developing markets in the world. From halal products and industry to Islamic banking and finance, this economy encompasses a number of sectors that are receiving a worldwide recognition and generating a ...

  RITIKA SHARMA / Emirates Business Known as one of the strongest countries in bespoke car sales, UAE with its wealthy population is driving the growth of the global ‘customised cars’ industry. The recent win of Abu Dhabi Motors that made it top Rolls-Royce Bespoke Dealer in the world for 7th year in a row, is testimony to the fact ...

  Sharjah / Emirates Business The mobile library of Knowledge without Borders (KwB) — the Sharjah-based cultural project — has concluded its visits for the first five months of the year. A major component of KwB’s strategy to bring reading within reach of all, the library’s 2016 tour schedule to date has seen it visit almost 250 locations in the ...

  Ritika SHARMA / Emirates Business UAE is home to thousands of expats from nearly 200 countries, who increasingly rely on cargo services to send their stuff homes. It involves transactions worth millions of dirhams every month. Treading an innovative business model, a leading cargo company here has introduced a stress-free option for customers to convert the huge billing amount ...

  Sunaina Rana / Emirates Business E-commerce has become one of the biggest business trends in the UAE, of which mobile commerce is an integral part. According to a recent study conducted by Criteo, mobile was the most preferred device for business during the Ramadan season, with a 44% rise in spending two weeks prior to Ramadan, to 49% by ...

  Dubai / Emirates Business ENOC Lubricants Marketing, a division of Emirates National Oil Company (ENOC), discussed the importance of strengthening the division’s presence across international markets through maintaining strategic business associations with key partners at the ENOC Annual Distributors’ Meet, recently held in Shehzen, China. Considered as one of the sterling success stories of UAE entities going international, ENOC ...

  BLOOMBERG Weeklong rallies for global stocks and commodities ended as the outlook for economic growth rekindled investor caution. The MSCI All-Country World Index fell for the first time in six days after reaching a six-month high, and futures on the S&P 500 indicated the gauge will slip after closing close to a record high. The Bloomberg Commodity Index was ...

  Bloomberg For Brazil’s enormous chicken industry, facing a surprise domestic shortage of corn with which to feed its birds, the solution seemed obvious: import the grain from the U.S., where stockpiles have never been bigger. Yet there have been no imports from the U.S. so far this year, even though the corn shortfall is so severe that the chicken ...

  Bloomberg Glencore Plc agreed to sell just-under a 10 percent stake in its agriculture unit to Canada’s British Columbia Investment Management Corp. for $624.9 million in cash as it continues to cut debt. The commodities trader and miner, which sold a 40 percent stake in the business to Canada Pension Plan Investment Board for $2.5 billion in April, will ...