Network International and Commercial Bank of Dubai have expanded their merchant lending referral partnership beyond point-of-sale financing. The expanded suite provides UAE SMEs with commercial property financing and unsecured working capital loans. Eligibility criteria have also been widened to include smaller and newer enterprises.
A Singapore-flagged container ship operated by UAE-based Global Feeder Shipping sank in the Strait of Hormuz after catching fire from an attack. All 21 crew members aboard the GFS Pride were safely evacuated without injury. A second vessel operated by the company was also struck and damaged by a projectile.
The 1 Billion Followers Summit and the National Media Authority have launched the $1 million '100 Dreams' initiative in collaboration with Dream Group founder Simon Squibb. The programme will provide 100 content creators with $10,000 each, alongside trade licensing support, mentorship, and business acceleration in the UAE. Applications open on 20 November ahead of the fifth summit edition in January 2027.
Chery Group's premium automotive brand LUXEED has announced plans to expand into the Middle East luxury mobility market, starting with the UAE in Q2 2027. The brand plans to launch a flagship MPV and roll out sales networks across Abu Dhabi and Dubai by the end of 2027.
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