Tag: saudi arabia
Halal fintech startup Wahed closes $25M led by Saudi Aramco’s investment arm
New York-based fintech startup Wahed (meaning ‘One’ in Arabic) describes itself as a digital Islamic investment platform and as the world’s first ‘halal robo adviser’. It’s now closed a $25 million investment round led by Saudi Aramco Entrepreneurship Ventures (also known as Wa’ed Ventures), a venture capital investment arm of oil…
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Uber subsidiary Careem to slash workforce by 31%, suspends bus transport app
Careem, the Dubai-based ride-hailing and delivery company that was acquired by Uber last year, is cutting its workforce by 31% and suspending its mass transportation business due to affects from the COVID-19 pandemic. The layoffs will affect more than 530 employees. Employees who are laid off will receive at least…
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Uber Eats exits seven markets, transfers one as part of competitive retooling
Uber Eats is pulling out of a clutch of markets — shuttering its on-demand food offering in the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay and Ukraine. It’s also transferring its Uber Eats business operations in the United Arab Emirates (UAE) to Careem, its wholly owned ride-hailing subsidiary that’s…
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Wall Street’s terrible, horrible, no good, very bad day ends with the Dow down 2,000
At least it’s over. The markets endured their worst day of trading of this young year as the Dow Jones Industrial Average dropped 2,000 points to close at 23,850.79 — a 7.79% decline. The Nasdaq Composite Index fell 624.94, to close at 7,950.68, and losses to the S&P 500 triggered…
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Middle East healthcare platform Vezeeta raises $40M Series D led by Gulf Capital
Vezeeta, a healthcare platform operating in the Middle East and Africa, has raised a $40 Million Series D funding round led by UAE-based Gulf Capital, alongside further investment from existing Riyadh-based investor Saudi Technology Ventures (STV), which previously led Vezeeta’s Series C round in September 2018. Vezeeta’s other investors include…
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UN calls for investigation into alleged Saudi hacking of Jeff Bezos
The United Nations is joining the chorus of those concerned about allegations Saudi Crown Prince Mohammed bin Salman was involved in hacking Jeff Bezos' phone. UN experts have issued a statement calling for an "immediate investigation" into cla… Source
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