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Saturday April 15, 1:35 pm Eastern Time
Oracle, Dubai Ports in e-commerce joint
venture
DUBAI, April 15 (Reuters) - Dubai Ports Authority (DPA) and the
Jebel Ali Free Zone announced a joint venture with Oracle Corp
(NasdaqNM:ORCL - news) on Saturday to establish the region's
first e-business market, the official WAM news agency reported.
WAM said the Dubai Electronic Market (DEM) will start operating within 60 days, and
would make it possible for businesses to buy, sell and compete on world markets.
It said DPA would operate the project while Oracle would provide the infrastructure and
advanced technology.
``The Dubai Electronic Market (DEM) will make it possible for the public and private
sectors to consolidate their purchasing power to receive the highest possible returns,' WAM
quoted DPA Chairman Sultan bin Sulayem as saying.
He said all purchase orders, confirmations, auctions and tenders would be processed on line
by DPA.
The move followed an announcement this month to bring local government services on line
to speed up transactions, reduce costs and improve quality.
Last year, Dubai announced plans to set up Dubai Internet City, a $272 million free trade
zone for e-commerce. The moves are part of efforts to make Dubai, already a Gulf trading
hub, a regional centre for information technology. |
