Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is a former investment banker and author of “Power Failure: The Rise and Fall of an American Icon”Volatile financial markets, like the ones we face now thanks to America’s ever evolving tariff policies, often create unique opportunities. Think back to what happened in October 2022, shortly after Credit Suisse launched a major business restructuring and the credit-rating agencies announced they were downgrading the Swiss bank’s debt, adding to the turmoil that was engulfing the then 166-year-old financial institution. One of…
Two UAE firms – fintech Aura financial institution Reem Finance – are joining hands to give a big push to SME cash flow. The two signed a Memorandum of Understanding (MOU) to leverage Reem Finance’s lending capabilities to expand Aura’s SME financing platform in the UAE market. Aura’s platform focuses on improving SME cash flow through innovative credit solutions. The partnership is set to tackle the substantial credit gap facing SMEs in the UAE, in line with Aura’s goal of offering instant access to funds through invoice discounting. Aura said its solution is particularly vital in a market where over…
Mamo, a UAE-based fintech startup, announced the successful completion of a $3.4 million funding round. The fresh capital will be used to expand the company’s product offerings and extend its market presence. The funding round was led by an existing investor 4DX Ventures and the Dubai Future District Fund. Cyfr Capital also participated in the funding round, said Mamo, focusing on solutions to help small and medium-sized businesses consolidate their payment collection, corporate cards and expense management needs. The company said it has plans to further develop its comprehensive financial services platform to address the deeper finance operations needs of…
Global tech giant Meta and Startupbootcamp, a leading startup accelerator, announced a collaboration to boost MENA’s startup scene. The strategic partnership aims to empower local startups with cutting-edge AI technologies by launching Llama Design Drive, a program specifically designed to address the needs of the MENA region. The programme will consist of three four-week sprints conducted across the region – in the UAE, Saudi Arabia, and Egypt. Strategic partnerships with industry leaders, including RTA (The Roads and Transport Authority), Chalhoub Group, and Dubai Holding, have also been forged to guide the definition of design challenges and explore cutting-edge solutions that…
Oraseya Capital, the venture capital investment arm of the Dubai Integrated Economic Zones Authority (DIEZ), announced over $1 million in investments, spread over seven technology startups. The investments, announced at the conclusion of the fourth accelerator programme by SANDBOX, envisage each startup receiving $150,000 (AED 570,000). The seven startups that received funding include Qureos, a recruitment tech startup, Herogo, the sustainable food tech subscription platform for fruit and vegetables, Lisan, a deeptech generative AI startup specialising in Arabic linguistics, Sthrive, a B2B SaaS platform for retailers designed to boost sales and employee performance and Zoya, a fintech startup that makes…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Mr Kipling is exceedingly brave: the 57-year-old UK cake brand plans to sell apple pie to Americans this year. British staples specialist Premier Foods — home also of Bisto gravy, Oxo stock cubes and Ambrosia custard — has transformed itself from a debt-laden pudding to a top FTSE 250 performer. As its appetite for acquisitions and international expansion grows, the one thing to watch out for is indigestion.Shares this week hit a 15-year high as boss Alex Whitehouse reported strong full-year earnings…
The region’s Rhinos – a term used for resilient and successful startups with valuations over $100 million – are projected to create an over $50 billion market cap through initial public offers (IPOs). Over 60 Rhinos in the region, including fintech ventures such as Tabby and Tamara, foodtech ventures Kitopi and ToYou, classified ventures such as Bayt and Property Finder and the B2B/SaaS ventures such as FOODICS and UNIFONICs, are the ones expected to hit the market over the next five years, new market research by global consultancy RedSeer said. “MENA’s Rhinos have been the backbone of the region’s digital…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.BT is in advanced talks to sell its 50 per cent stake in UK broadcaster TNT Sports to US joint venture partner Warner Bros Discovery, according to two people familiar with the situation. A deal could be announced as early as next week, they added, when BT is set to release its full-year results. However, that timing could still slip depending on how negotiations progress, one added.The move would end BT’s involvement in sports broadcasting after more than a decade, bringing to a…
In 2024, there are 1,241 unicorn startups worldwide, with the US accounting for 662, or more than half of the total. Among these, San Francisco hosts 175 unicorns, representing 26.44 percent of the US total and an increase from 171 in 2023. New York follows with 118 unicorns, while Beijing has 65, London 42, and Shanghai 38, a report from stock market specialists BestBrokers said. San Francisco-based unicorn companies make up just 14.10 percent of the global total, yet they collectively contribute an impressive $781.31 billion to the world’s entire unicorn valuation, which stands at $3.899 trillion. This represents a…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Robert AG Monks, who has died aged 91, was the inspirational founding father of American shareholder activism, an accomplished lawyer, prolific writer and successful businessman. With Nell Minow, his long-standing business partner and co-author, he helped power the take-off in the 1980s of the corporate governance movement. Monks was a Republican who ran three times, unsuccessfully, for the US Senate. He liked to remind people that it was while running for office that he came to understand the critical importance of institutional shareholders…