Dubai real estate red flags; Long Kuwait weekend; New UAE e-commerce laws – 5 trending stories to read today – Arabian Business

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On Thursday, Arabian Business covered some of the most happening stories in the region, which included luxurious Dubai penthouse sells for record-breaking $136.2mn; Kuwait announces 2 long weekend holidays for 2024 and more.

Here are five trending stories you missed yesterday.


Buy/sell, rent/lease residential &
commercials real estate properties.

Dubai Taxi Company shares enter fast lane with 19% surge after DFM debut

The shares of Dubai Taxi Company surged nearly 19 per cent above the listing price of Dh1.85 per share on Thursday as the company made its debut on the Dubai Financial Market.

The opening flurry of trading saw shares reach AED2.2, before falling to AED2.14 in the first half hour.

The offering saw significant demand from international and regional institutional investors and retail investors in the UAE, with total demand amounting to over AED150bn ($41bn), implying an oversubscription level of 130 times in aggregate.

Kuwait announces 2 long weekend holidays for 2024: Reports

kuwait

Kuwait has announced dates for two long weekend holidays, according to media reports in the country.

Citing unnamed sources, Al Anba Daily said dates had been confirmed for the occasions of Isra and Mi’raj, National Day and Liberation Day.

The holidays all fall in February 2024 and result in two long weekends during the month.

Overconfidence leaves UAE consumers exposed to scams, fraud: Report

UAE consumers

Overconfidence could be leaving many consumers in the UAE more vulnerable to scams and fraudulent activities, a new report from payments giant Visa finds.

The study, which surveyed consumers across Central and Eastern Europe, the Middle East and Africa, revealed that while over 60 percent of respondents in the UAE believe themselves to be scam-savvy, in reality nearly 90 percent are likely to miss common warning signs that suggest criminal behavior online.

Revealed: Luxurious Dubai penthouse sells for record-breaking $136.2mn

Revealed: Luxurious Dubai penthouse sells for record-breaking $136.2mn

The Como Residences Penthouse by Dubai real estate developer Nakheel sold for $136.2 million (AED500 million), becoming the most expensive property ever sold in the emirate.

The sale of the Palm Jumeirah-based 21,949 square foot penthouse brings the total value of real estate transactions on the Como Residences project to over $500 million.

With access to residents via private elevator, the premium property promises an unmatched luxury lifestyle experience upon completion in 2027.

UAE announces new laws to licence, regulate e-commerce sector

UAE announces new laws to licence, regulate e-commerce sector

The UAE unveiled a slew of measures to streamline businesses and facilitate services for consumers in the country, in line with the international digital commerce trends.

It also announced a new law, adopting a flexible approach to legislation, to emphasise the key role of entities and authorities responsible for licensing and regulating e-commerce, as well as the associated logistic services and digital payment gateways.

The new law does not impose any additional requirements on digital traders or providers of other services.

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