Hazel Clayton

The UAE’s government export credit business Etihad Credit Insurance and its Turkish counterpart Turk Eximbank inked a memorandum of cooperation in Istanbul to “promote commerce and export and easy access to credit insurance and project financing,” according to the official Emirates News Agency.

The United Arab Emirates and Turkey are working to repair their relationship. In recent years, the two countries have clashed over a number of regional problems, including the Arab Spring, the diplomatic dispute in Qatar, and the Libyan civil war. When Turkish President Recep Tayyip Erdogan hosted a senior Emirati security officer last year, the reunion gathered traction. Erdogan then visited the UAE in February, in part to secure investment in Turkey’s battered economy.

--

--

NorthLadder, a UAE-based digital trading marketplace for used electronics, has raised $10 million in a convertible note sponsored by venture capital firm CE-Ventures, with participation from other investors. The funds will be used to improve the company’s technology platform, grow internationally, and reinforce current B2B partnerships.

Sandeep Shetty, co-founder and CEO of NorthLadder, said in a statement, “With this current round of funding, we hope to further improve our talent base and expand our market reach in numerous countries, including the UAE and Saudi Arabia.” According to MAGNiTT, NorthLadder has served over 30,000 consumers, has over 500 dealers across three countries, and over 200 trade-in locations.

--

--