Analysis Tech Musk’s Twitter free speech promise may be tested in Middle East In a region where the local media is often controlled by the state, millions of people rely on social media platforms to follow news and express their opinions. Both Twitter and Facebook showed their potential to influence real-life events during the 2011 Arab Spring uprisings, when they played an outsize role in social upheaval. But […] May 3, 2022
Shopify’s revenue growth slowest in seven years, shares plunge Canada’s Shopify Inc reported its slowest quarterly revenue growth since going public in 2015 and delivered a big miss on profit, sending the company’s U.S.-listed shares tumbling 17 percent on Thursday. Easing global e-commerce growth from the frenetic pace seen during the peak of the pandemic has hit Shopify, which provides merchants tools and service […] May 2, 2022
Google gives $100,000 worth of tech training to every US business Alphabet Inc’s Google will provide any US business over $100,000 worth ofonline courses in data analytics, design and other tech skills for their workers free of charge, the search company said on Monday. The offer marks a big expansion of Google’s Career Certificates, a program the company launched in 2018 to help people globally boost […] May 2, 2022
Health Betting big on drug discovery, UK’s OMass Therapeutics raises $100m Betting on a fresh formula for the arduous, expensive and failure-prone field of drug discovery, UK-based OMass Therapeutics on Thursday said it has raised $100million in series B funding. Including the latest injection – led by a pack of prominent new investors including the Google Ventures and Sanofi Ventures as well as existing investors such […] May 2, 2022
Chip startups using light instead of wires gain momentum Computers using light instead of electricity for processing are gaining traction. And startups that have solved the engineering challenge of using photons in computer chips are getting big funding. Researchers say the technology could drive innovation in everything from quantum computing to driverless cars to artificial intelligence. California-based startup Ayar Labs is developing a technology […] May 1, 2022
Banking & Finance Qatar Airways suffers setback in feud with Airbus A British judge has denied a bid by Qatar Airways to reinstate a jet contractcancelled by Europe’s Airbus in the latest twist to a dramatic feud playing out in UK courts. The companies have been locked in a safety dispute for months on Europe’s A350 long-haul jet. Their unprecedented bust-up widened in January when Airbus revoked a separate deal for […] April 29, 2022
Tourism Emirates widens refurbish plan amid delivery delays Emirates will refurbish more of its existing fleet than previously planned,its chief commercial officer said on Tuesday, as the airline faces delays to deliveries of new Boeing jets and seeks assurances over concerns with the Airbus A350s it ordered. The Gulf carrier is spending over a $1 billion to refurbish the fleet which includes installing a new premium economy […] April 29, 2022
Tech UAE agtech Right Farm raises $2.8m from investors Right Farm, a United Arab Emirates agriculture technology firm, said on Monday it raised $2.8 million from investors including Abu Dhabi state holding company ADQ’s venture platform. The company is a business to business digital platform which sources fresh produce from local and international farms for the food and retail sector. Right Farm said in […] April 28, 2022
Turtle Beach explores options to defend against hedge fund Turtle Beach Corp is looking at strategic alternatives including a possible sale, the company said, as it seeks to defend itself against a hedge fund which is seeking to replace all of the gaming equipment company’s six board members. Investment advisory firm Donerail Group and Turtle Beach have both made regulatory filings urging the company’s […] April 25, 2022
Tech Saudi agtech startup Red Sea Farms raises $18.5m Saudi Arabian agriculture technology startup Red Sea Farms has raised an additional $18.5 million to help expand its fresh produce line, and also to sell its technology to users in harsh, water scarce environments. The funding was raised from Saudi Aramco’s Wa’ed, The Savola Group, KAUST Innovation Fund and OlsonUbben, the company said. Red Sea […] April 25, 2022
Tech firm lands tasty deal FOODICS, a cloud-based technology firm serving restaurants in the Middle East, has raised $170 million from investors led by Prosus and Sanabil Investments, which is owned by Saudi Arabia’s sovereign wealth fund PIF. The series ‘C’ funding would support regional and international expansion by FOODICS, including its merger and acquisition (M&A) strategy to increase market […] April 20, 2022
Tech company iMENA working with banks on IPO plans Middle East technology investment firm iMENA Group, part owned by Abu Dhabi telecom operator e& , is considering an initial public offering in Abu Dhabi and is working with banks on the deal, two sources told Reuters. The company invests in online and mobile businesses in the Middle East and North Africa, with firms including […] April 7, 2022
