• Tuesday, 10 May 2022

    Aramco is close to eclipsing Apple as the world’s most valuable company

    Saudi oil giant Aramco is close to taking Apple’s crown as the world’s most valuable company, Bloomberg reports. Aramco briefly hit a record high yesterday, bringing its market cap to USD 2.44 tn, close to Apple’s USD 2.49 tn. The...
  • Sunday, 8 May 2022

    Abu Dhabi Ports to build and run Safaga terminal, cruise ship infrastructure

    Abu Dhabi Ports to develop and run Safaga terminal in JV with state authorities: Abu Dhabi Ports (ADP) has signed a contract to develop, operate and manage a multi-purpose terminal in Safaga Port as part of a joint venture with...
  • Tuesday, 26 April 2022

    Jerusalem and Ukraine on the agenda at tripartite Arab summit in Cairo

    Jordanian and Emirati leaders discuss cooperation, current affairs with El Sisi in Cairo: President Abdel Fattah El Sisi held talks with Jordan’s King Abdullah and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan in Cairo on Sunday, according...
  • Tuesday, 26 April 2022

    Twitter’s board greenlights Musk’s takeover bid

    Looks like Elon Musk is buying Twitter after all: The Twitter board has okayed the Tesla boss’ offer to fully acquire the social media platform in an all-cash, USD 44 bn transaction, according to a statement picked up by PR...
  • Tuesday, 26 April 2022

    UAE-based fintech platform FlexxPay to make Egypt its third market

    FlexxPay lands in Egypt: UAE-based fintech platform FlexxPay is expanding to Egypt, it announced in a press statement (pdf) last week. The company, which provides flexible salary payment services, is already active in the UAE and Saudi Arabia, and is...
  • Wednesday, 20 April 2022

    Has Netflix subscriber growth peaked?

    Netflix saw nearly a quarter of its value wiped out after losing subscribers for the first time in a decade: The streaming service lost 200k subscribers in 1Q and expects to lose another 2 mn this quarter, it said in...
  • Tuesday, 19 April 2022

    Cairo Angels invests in UAE family activities app QiDZ

    The Cairo Angels Syndicate Fund has made an investment in Gulf family entertainment marketplace QiDZ, the VC fund announced in a statement (pdf) yesterday. A representative from the fund declined to disclose how much was invested when we asked, telling...
  • Sunday, 17 April 2022

    FAB drops its bid for EFG Hermes. Plus: Incolease, Mondi in transactions.

    Emirati lender First Abu Dhabi Bank (FAB) has dropped its bid for a majority stake in leading financial services corporation EFG Hermes, it said in a statement Thursday, citing “ongoing global market uncertainty and volatile macro-economic conditions.”FAB first made its...
  • Wednesday, 13 April 2022

    Dubai becomes a top-five IPO destination as DEWA shares soar on debut

    DEWA shares surge on debut: The Dubai Electricity and Water Authority’s (DEWA) shares jumped as much as 23% on their trading debut in Dubai yesterday following the company’s USD 1.6 bn IPO. The company reached a session high of AED...

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