News

Dubai-Based Noon Has Eliminated 10% Of Its Workforce

Employees in the marketing and advertising departments were laid off.

Published

2 years ago

April 24, 2023

Nour Nasir

Noon

After an initial surge during the height of the pandemic, many tech companies are now announcing cutbacks as the global economy continues to slump. Despite a generally buoyant digital economy, many Middle Eastern companies are also beginning to feel the strain as profits decline. One of those companies, Noon, recently issued a statement announcing layoffs of around 10%.

According to founder Mohamed Alabbar, Noon recently reduced its workforce to minimize costs, noting that the marketing and advertising departments of the Middle Eastern rival to Amazon were targeted for cuts.

Also Read: Bybit Opens Global Headquarters In Dubai’s World Trade Center

“We’ve been cutting costs and reducing staff for the past year and a half,” said Alabbar.

In 2021, Noon hoped to raise $2 billion from investors to aid further expansion across the Gulf e-commerce market. In February, the company acquired fashion e-retailer Namshi in a bid to expand its digital products and services with new fashion and lifestyle brands.

News

Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

13 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.