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The MENA region is emerging as a key player in global venture capital, with Algeria launching sector-specific funds to support 20,000 startups by 2029, focusing on AI and renewable energy. Meanwhile, Moroccan fintech PayTic has raised $4M to enhance payment automation across Africa, and Saudi Arabia's Sary has merged with Bangladesh's ShopUp to form SILQ, a B2B platform backed by $110M in investments, aiming to connect Gulf and South Asian markets.
Bangladesh is poised to enhance its relationship with Saudi Arabia as it celebrates 50 years of diplomatic ties and the 54th anniversary of its independence. Ambassador M. Delwar Hossain highlighted the strong collaboration between the two nations in various sectors, expressing gratitude for Saudi support and the presence of 3 million Bangladeshi expatriates. He emphasized the potential for deeper cooperation in trade, investment, and other key areas.
ShopUp and Sary have merged to form SILQ, aiming to create the largest B2B commerce ecosystem in the Middle East and Emerging Asia, projected to reach $682 billion. Backed by major investors, SILQ will enhance financial services for SMEs and establish a regional headquarters in Qatar.Meanwhile, Saudi Arabia's STUCK? has raised a high six-figure pre-seed round to innovate Arabic content creation through AI, while UAE's Rentify has secured $500,000 to digitize the rental market with AI-driven solutions, enhancing tenant and landlord experiences.
ShopUp and Sary have merged to create SILQ Group, backed by $110 million in funding from investors including Sanabil Investments and Valar Ventures. This new entity will operate regionally while maintaining original brand identities and aims to expand into Qatar, targeting a projected $682 billion trade corridor. With over $5 billion in transactions and 600,000 clients, SILQ will also launch SILQ Financial to enhance embedded finance solutions for small businesses in the Gulf and South Asia.
SILQ, a B2B platform formed from the merger of Saudi's Sary and Bangladesh's ShopUp, has raised $110 million in a funding round led by Valar Ventures and Sanabil Investments. The company aims to enhance procurement for SMEs in emerging markets and plans an IPO by 2027, leveraging its cross-market operations in Asia and the Middle East. The investment highlights increasing interest from Gulf sovereign funds in tech and digital infrastructure supporting small businesses.
Saudi B2B ecommerce platform Sary has merged with Bangladesh's ShopUp to create Silq Group, the largest B2B commerce platform in the Gulf and Emerging Asia, backed by a $110 million funding round led by Sanabil Investments and Valar Ventures. The merger aims to enhance access to products for retailers and manufacturers, with both brands continuing to operate under their names while leveraging combined capabilities. Silq plans to strengthen its presence in Qatar, addressing challenges faced by B2B businesses with an integrated platform for financial, logistics, and commerce services.
The U.S. has imposed a 26% tariff on all Indian exports, impacting key sectors like electronics and gems, while exempting pharmaceuticals and energy products. With a $46 billion trade deficit, India may benefit from increased market share in textiles and steel as tariffs on China rise. Ongoing discussions aim to resolve tariff disputes and potentially lower Indian tariffs on U.S. goods.
Datamatics prioritized job security during COVID, emphasizing that 95% of business issues are people-related. The Leadership Summit 2025 at SDA Bocconi Asia Center focused on resilience and innovation amid geopolitical uncertainties, highlighting the need for adaptable leadership and sustainable growth strategies. Panelists discussed the complexities of global trade, the intersection of sustainability and geopolitics, and the importance of ethical AI in driving future business success.
HSBC's restructuring of its Asia division has resulted in a significant loss of senior roles for women, with only two out of 15 new positions going to female executives. Notable departures include Christina Ma and Amanda Murphy, while the majority of top roles in key markets were filled by men. Despite this, HSBC maintains that diversity remains a priority, with women holding 34.6% of senior leadership roles in 2024, a slight increase from the previous year.
HSBC's restructuring has resulted in a significant loss of senior roles for women in Asia, with only two out of 15 positions filled by female executives. Notable departures include Christina Ma and Amanda Murphy, while the bank's CEO emphasizes diversity as a priority despite the recent appointments favoring men. Overall, women hold 34.6% of senior leadership roles at HSBC, a slight increase from the previous year.
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