A group of investors led by Al-Abbar (that recently bought-out a sizable stake in Aramex) will invest in the establishment of an e-commerce venture, Noon, which is scheduled to go live in January 2017, and to provide 20mn items for customers, Al Abbar mentioned at a news conference in Dubai.  Saudi Arabia’s Public Investment Fund will contribute USD500mn, while Alabbar and about 60 Gulf investors will contribute the remaining USD500mn, which could be potentially listed in five to seven years, Abbar added. Aramex PJSC ( ARMX.DU), will back Noon’s operations. Alabbar added that he expects Noon to be profitable in five years and to enter Egypt and Iraq by 2018. It is also likely to use warehouses owned by Americana, which has three times the warehouse capacity of Aramex, he said. ( Bloomberg)   Aramex (DU): AED3.93 as of 13 November 2016, Rating: Buy, FV: AED4.45 per share, MCap: USD1,568mn, ARMX UH / ARMX.DU