The e-commerce site will invest the amount in boosting technology and improving its mobile offering.
A Patek Philippe men’s wristwatch, set with 42 emeralds, fetched the highest price at $341,000.
Dubai carrier makes unusual move and decides to drop new route
Foreign investors now hold 13.7 per cent of Dubai Investments’ shares out of the total 20 per cent allowed, bourse data showed.
The company will issue as many as 110.3 million new shares with an over-allotment option of 16.5 million additional shares.
The new agreements will help avoid problems that arise from misinterpretation of the documents, a statement said.
If it goes ahead, the sale of Mauser would be one of the largest asset disposals by the emirate since its debt crisis in 2009.
Dubai real estate prices could triple by 2020, writes Peter Cooper.
Only nine funds have been domiciled in the DIFC since its current funds regime was introduced in 2010.
Paris-based Webedia has bought a majority stake in digital media firm Diwanee.
The share sale is expected to take place on Dubai Financial Market around the end of this year.
The 140 art works auctioned during the event in March raised over $10.6 million, up 65 per cent from last year, said Christie’s.
The world’s fourth-largest port operator posted annual revenues of $3.07 billion for 2013, down 1.5 per cent on 2012.
The contracts cover projects in its Al Furjan and International City communities in Dubai.
Only a quarter of Dubai firms will increase schooling allowance for employees this year, says a Mercer study.
The Dubai Department of Economic Development is currently conducting a feasibility study along with Noor Investment Group.
The deal will reinforce confidence in Dubai’s property market, curbing apprehensions on market volatility, says expert.
The number of firms operating under DSOA grew to reach 929, the company said.
The contractor, in which Abu Dhabi state fund Aabar is a key stakeholder, said it made a net profit of Dhs122 million in Q4.
Located in the upcoming Opera District, the multi-format venue will host operas, concerts, art exhibitions, film and sports events.
Low-cost carrier’s move sees capacity stack up between Dubai and Moscow
Dubai’s largest listed property developer has said it would list 25 per cent of its shopping malls and retail unit.
Situated in an upscale hotel district in Guangzhou, the project is scheduled to open in 2015.
The development features two towers and includes 300 residential units.
Emaar’s strong reputation with investors for delivering projects, plus the fact it has collected healthy deposits on the off-plan developments, meant it was very cash-rich.
Under the contract, Al Futtaim Carillion will carry out the first phase delivery of the Dubai Trade Centre District project.
VOX plans to open five new cinemas in addition to its existing project pipeline.
The collaboration will help the bourses offer energy products such as liquefied natural gas and electricity.
The project registered Dhs500 million in sales during the opening hours of the launch.
The debt is being rolled over for five years at a one per cent annual interest rate, WAM said in an official statement.