Author: Mahdeehassan

The Eco-friendly ride option supported by the TGA will enable customers to contribute to carbon removal efforts through MEWA’s tree-planting initiatives powered by the Sedrah Program. Riyadh, Saudi Arabia – January 2025 – CarbonSifr, a pioneering climate-tech company and a participant in the inaugural Sedrah Program under MEWA (Ministry of Environment ,Water and Agriculture) and Careem Rides, focused on facilitating everyday reliable and convenient commuting options for the region through the Careem app, are announcing the launch of Careem’s Eco-friendly ride option in Saudi Arabia with support from the Transport General Authority (TGA) and MEWA’s Sedrah Program. Eco-friendly rides, launched…

Oxford Business Group spotlights the Kingdom’s progress in The Report: Saudi Arabia 2024 Riyadh, January 2025: Saudi Arabia’s strategic advancements under the Vision 2030 framework and its commitment to sustainable innovation form the cornerstone of the latest report released by global research and advisory firm Oxford Business Group (OBG). The Report: Saudi Arabia 2024 examines the transformative policies driving the Kingdom’s economic diversification, with a focus on key developments in infrastructure, tourism, health care and financial services, among other sectors. The publication highlights Saudi Arabia’s growing role as a regional and international centre for investment, showcasing flagship giga-projects such as…

CredibleX, the UAE-based startup, has carved a niche for itself in the embedded SME lending landscape. Known for its innovative approach, the company is revolutionising how small to medium enterprises (SMEs) access working capital in the region. Since its inception, CredibleX has disbursed a substantial AED 100 million in loans, significantly impacting the local business ecosystem. The company recently announced a successful $55 million (AED200 million) seed funding round comprising both equity and debt. This substantial financial backing comes from notable entities, including Further Ventures for equity, Kilgour Williams Capital, and Berkley Square Finance, among other debt providers. Such strong…

BuyAnyAutoPart, a UAE-based B2B used car part aggregator disrupting the region’s multi-billion-dollar used car part market, has secured USD 750,000 in pre-seed funding. The company, which focuses on the search and supply of used car parts to the region’s multi-brand workshops, has attracted investment from prominent backers, including Galadari Brothers, the exclusive dealer for Mazda in the UAE, and 6G Capital, the family office of the Allana Group, among other strategic investors. “As a global family office focused on forward-thinking investments, we prioritise companies with innovative solutions and strong growth potential, like BuyAnyAutoPart,” said Adil Allana, of 6G Capital. The…

Geidea, a leading provider of digital payment solutions in the Middle East, is set to launch its innovative SoftPos service in Egypt, following a successful two-year rollout in Saudi Arabia and later in the UAE. This expansion marks a significant milestone in Geidea’s strategy to drive digital transformation in the region, offering merchants and consumers an advanced, secure, and seamless payment experience. Since its launch in Saudi Arabia, Geidea has revolutionised the payment landscape by becoming the first company in the Middle East and North Africa (MENA) region to introduce SoftPos solutions. This technology enables merchants to accept payments via…

Dubai, United Arab Emirates: The UAE has seen a sharp rise in cyber threats in 2024, particularly ransomware attacks, with 34 reported incidents between January and November, up from 27 in all of 2023, according to Acronis Threat Research Unit data. This increase reflects the nation’s prominence globally, making it a prime target for cybercriminals aiming to exploit vulnerabilities in finance, telecommunications, government, and critical infrastructure sectors. Additionally, as per the same report, Malware detections have also surged by 65.3%, jumping from 16.05% in 2023 to 26.52% in 2024. Cybercriminals are increasingly using advanced malware and encryption techniques to attack financial institutions,…

Dubai, United Arab Emirates – November, 2024 – In honor of UAE’s 53rd National Day, Art of Dum, the premium cloud kitchen serving traditional Indian ‘dum style’ dishes, is partaking in the cultural celebration with a unique offering on some of its finest dishes for a limited-time only. To mark the momentous occasion, from December 1st to 3rd, 2024, Art of Dum presents patrons the opportunity to savor six of their signature dishes for just AED 53, paying homage to Eid Al Etihad – 53 years of unity. The selected items features specialty biryanis and indulgent curries, crafted in the traditional Indian ‘dum’ style, available…

Record Asset Management GmbH, a part of Record Financial Group (Record plc), in collaboration with OWI Group PLC, a global institutional sharia-compliant investment platform, is proud to announce the launch of the world’s first Deep Tier Supply Chain Sharia-compliant fund, aiming to raise USD 1 billion. The fund will be managed by RAM, supported by Khalij Group (“Khalij”), a renowned, award-winning Islamic investment and advisory firm, authorized and regulated by the FCA. Headquartered in the UK, Khalij serves a global clientele with a widespread international presence. This groundbreaking fund will leverage a diverse mix of international investors, including family offices and development financial institutions, and will be distributed across multiple…

Sharjah, November 2024: As part of an initiative aimed at providing a range of services and facilities to support and empower Emirati publishers, in collaboration with The Emirates Publishers Association, InterContinental Hotels & Resorts Group (IHG) has granted exclusive benefits at its hotels worldwide to the Association’s members. This initiative intends to provide members of the Association with the opportunity to benefit from the discounts offered by this prestigious hospitality group on accommodation rates at its 6,500 properties worldwide, when travelling abroad – whether for business or leisure travel. Additionally, members can enrol in the group’s rewards programme to earn points for each…

Jada Fund of Funds is pleased to announce its commitment to SEEDRA Ventures Fund II, a newly launched venture capital fund managed by SEEDRA Ventures. This investment is part of Jada’s ongoing strategy to support the growth and development of early-stage companies across diverse sectors in Saudi Arabia and the MENA region. Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, said, “Our commitment to SEEDRA Ventures Fund II underscores our focus on enabling early-stage businesses that contributes to the Kingdom’s economic transformation in alignment with Vision 2030.” “We are grateful for Jada’s trust and commitment to the…