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Start-ups in the Mena region attracted a record $1 billion in funding last year, according to data platform Magnitt. The value of the UAE’s retail e-commerce market rose by 53 per cent to a record $3.9bn in 2020, largely driven by the digital shift in consumer shopping habits amid the Covid-19 pandemic, according to a report by Dubai Chamber of Commerce and Industry. The Series B funding round, which was led by Kingsway and venture capital firm Nuwa Capital, with participation from French Partners, Endeavor Catalyst, Derayah, Palm Drive and Hardy Capital, will support the company s expansion plans, its retail and omni-channel platforms and allow it to further invest ....
barrel on Friday while WTI closed 1.02 per cent higher at $74.05 a barrel. Following a small post-FOMC [Federal Open Mark Committee] correction, crude oil quickly resumed its move higher, with WTI and Brent both reaching levels last seen in 2018, said Ole Hansen, head of commodity strategy at Saxo Bank. This is in the belief that Opec+ will, in the near-term, manage production increases in a manner that ensures continued price support as global demand continues to recover and, later on, due to increased concerns that a lack of capex spent on new production could leave the market undersupplied from late 2022 onwards, he said. ....