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Emaar Malls Confirms $800 Million Bid For Souq.com

28Mar By reutersNo Comments

ACQUISITION

Emaar Malls Confirms $800 Million Bid For Souq.com

Dubai's Emaar Malls, a unit of Emaar Properties, said on Monday it had submitted an $800 million bid for Middle Eastern online retailer Souq.com. The bid has so far not been accepted by Souq.com's shareholders, Emaar Malls said in a bourse statement. Local business magazine Arabian Business had previously reported the bid. Last week, sources familiar with the matter told Reuters that Amazon.com Inc had agreed in principle to buy Souq.com. Amazon declined to comment, and a spokesperson for Souq.com did not respond to a request for comment. Emaar Malls’ bid has so far not been accepted by Souq.com shareholders, the Dubai-listed firm said in a stock exchange announcement on Monday. Souq.com, which was founded 12 years ago by Syrian-born entrepreneur Ronaldo Mouchawar have to break...

Inter-city Cab Rental Platform MyTaxiIndia Raises Funding

Inter-city cab rental platform MyTaxiIndia has raised an undisclosed amount from ZGC Global, a Dubai-based investor to expand its operations. MyTaxiIndia, which claims to be present in 200 cities, is looking at rolling out its offerings in the North-East as well as tier I and II cities in states like Bihar, Uttar Pradesh, Madhya Pradesh and Chhattisgarh. However, no financial details of the investment were divulged. The company plans to raise its next round of funding of about USD 5 million in the next four months. Stating that the Dubai-based company will also participate in the Series A round, MyTaxiIndia Co-Founder Anshuman Mihir said: "We are discussing the valuation with several venture capital firms... We would be raising up to USD 5 million". In July 2016, MyTaxiIndia ha...

Dubai Based MyEasyISO Ease ISO Compliance, Certification & Maintenance

International Standards Organisation or ISO, established in 1947, is a non-government federation of national standards bodies from around 150 or so different countries. A standard is a document that provides requirements, specifications, guidelines or compliances that can be used consistently to ensure that materials, products, processes and services are fit for their purpose. Usually, implementing a standard is a tedious and painstaking process if not executed well. The most popular management system standard which has been implemented by more than 1.2 million organizations globally is one of the very important standards but normally improperly implemented. Improper implementation kills the basic motive of the standard – “Enable an organization improve process performance, enhanc...