UAE’s e& acquires $400m stake in Careem
UAE’s Emirates Telecommunications Group Company (e&) has announced the acquisition of a majority stake worth $400 million in the Careem super-app, owned by Uber. e& will become a majority investor alongside Uber who will still remain the whole owner of Careem. The move accelerates Careem’s plans towards becoming an “everything app” in the region. Currently, […]
Qatar World Cup to generate $4 billion revenue
Hospitality, f&b, sports merchandise and fashion sectors are projected to garner the larger share of the spends by the football fans and tourists during the November-December world cup period The forthcomingFIFA World Cup in Qatar is predicted to generate about $4 billion revenue opportunity from tourist expenditure in the Middle East, a new research report […]
Dubai reveals first partners in upcoming global metaverse event
The Dubai Metaverse Assembly will take place at the Museum of the Future and Emirates Towers, AREA 2071– and will run from September 28 to 29 The Dubai Metaverse assembly, organised by the Dubai Future Foundation (DFF) is said to host the likes of the World Economic Forum, Meta, Mastercard, Emirates, and Accenture, among other […]
UAE’s $8.2 billion strategy a ‘game-changer’ for start-ups
Emirates Development Bank Strategy provides much-needed support for the country’s small and medium businesses, especially women-led businesses, which have been struggling since the pandemic Emirates Development Bank (EDB) Strategy launched to support the recently announced ‘Operation 300bn’ The AED 30 billion ($8.2 billion) package of financial support for UAE’s SMEs and startups provides needed relief […]
Digital Disruption in The Middle East
The Middle East is on the verge of a massive digital disruption. In the past decade, the cross-border data flow, connecting the Middle East to the rest of the world, has increased more than 150-fold. Several countries—including Bahrain, Qatar, and the UAE are leading the digital consumer charge, with high smartphone-adoption rates and social-media use. […]