Global e-commerce sales surged 13 per cent in 2017 to reach $29 trillion due to rise in the number of online shoppers, according to latest data from the United Nations Conference on Trade and Development.
The number of shoppers online climbed 12 per cent to reach 1.3 billion people, nearly a quarter of the world’s population.
The share of internet users buying goods online from abroad grew to 21 per cent in 2017 from 15 per cent in 2015, driven by an increase in buyers in the United States. Cross-border business-to-consumer sales grew to $412 billion, a 4 per cent increase from a year earlier and representing 11 per cent of total sales in this segment.
“The new figures show that e-commerce is indeed creating export opportunities,” Unctad secretary general Mukhisa Kituyi said in the report.
“But the question from a development standpoint is whether businesses in developing countries are prepared to seize the opportunities.”
The top 10 countries by e-commerce sales remain mostly unchanged except for Germany overtaking South Korea as the fourth-largest online market.
The value of online sales in the US hit nearly $9tn, almost triple that of Japan in second place. China was the third-largest market in terms of value with $1.9tn in sales.
Business-to-business sales accounted for 88 per cent of all online sales but business-to-customer activity grew 22 per cent to reach $3.9tn in 2017.
Customers from the UK were most likely to shop online, with 82 per cent of people ages 15 and above making purchases in 2017.
China, though, had the largest number of internet buyers at 440 million.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
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Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
Checks continue
A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.
Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.
Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
Navdeep Suri, India's Ambassador to the UAE
There has been a longstanding need from the Indian community to have a religious premises where they can practise their beliefs. Currently there is a very, very small temple in Bur Dubai and the community has outgrown this. So this will be a major temple and open to all denominations and a place should reflect India’s diversity.
It fits so well into the UAE’s own commitment to tolerance and pluralism and coming in the year of tolerance gives it that extra dimension.
What we will see on April 20 is the foundation ceremony and we expect a pretty broad cross section of the Indian community to be present, both from the UAE and abroad. The Hindu group that is building the temple will have their holiest leader attending – and we expect very senior representation from the leadership of the UAE.
When the designs were taken to the leadership, there were two clear options. There was a New Jersey model with a rectangular structure with the temple recessed inside so it was not too visible from the outside and another was the Neasden temple in London with the spires in its classical shape. And they said: look we said we wanted a temple so it should look like a temple. So this should be a classical style temple in all its glory.
It is beautifully located - 30 minutes outside of Abu Dhabi and barely 45 minutes to Dubai so it serves the needs of both communities.
This is going to be the big temple where I expect people to come from across the country at major festivals and occasions.
It is hugely important – it will take a couple of years to complete given the scale. It is going to be remarkable and will contribute something not just to the landscape in terms of visual architecture but also to the ethos. Here will be a real representation of UAE’s pluralism.
