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Ajras secures funding to enhance its position in Saudi Arabia's rapidly growing proptech sector, projected to reach $109 billion by 2030. Meanwhile, ORA Technologies raises $1.9 million to expand its digital payment and food delivery services in Morocco, aiming to drive financial inclusion. Talabat acquires InstaShop for $32 million, strengthening its grocery and retail presence across MENA.
Startup Bahrain has partnered with Reboot Coding Institute to enhance technical skills among entrepreneurs, aiming to strengthen Bahrain's digital economy. This collaboration will provide workshops and mentorship, equipping startup teams with essential coding expertise to foster innovation and competitiveness in the tech sector.
Kuwait-based delivery platform talabat has acquired 100% of Instashop from Delivery Hero SE for $32 million, finalizing the deal in March 2025. Instashop, founded in 2015 and operating in several MENA countries, reported a gross merchandise volume of $631 million in 2024, marking a 16% increase from the previous year. The acquisition will enhance talabat’s grocery and retail offerings while allowing Instashop to maintain its brand independence.
Talabat has acquired InstaShop for $32 million, enhancing its grocery and retail division while allowing InstaShop to operate independently. This strategic move aims to improve logistics, customer experience, and market presence in the MENA region's quick-commerce sector. Both companies will leverage their strengths to drive innovation and growth in online grocery delivery.
Lebanon's private sector showed steady growth in February, with a PMI of 50.5, supported by increased new business, particularly from abroad. Optimism surged following the election of a pro-reform president, despite ongoing security concerns due to Israel's presence in strategic areas.In the UAE, the non-oil private sector maintained growth with a PMI of 55, reflecting improved business conditions and rising new orders. However, firms expressed caution over intense competition and limited job creation, which could impact future growth.
Lebanon's private sector showed growth in February, with a PMI of 50.5, supported by increased new business, particularly from abroad. Optimism surged following the election of a pro-reform president, despite ongoing security concerns due to Israel's presence in strategic areas. Meanwhile, the UAE's non-oil sector maintained steady growth, with a PMI of 55, reflecting improved business conditions and rising new orders, although challenges like intense competition and limited job creation persist.
Aspiration co-founder Joseph Sanberg has been arrested for allegedly conspiring to defraud investors of $145 million, while board member Ibrahim AlHusseini pleaded guilty to wire fraud for falsifying documents to secure loans. The scheme involved inflated asset statements and resulted in significant financial losses for the investors. If convicted, both face up to 20 years in prison.
The UK's Financial Conduct Authority has banned former Credit Suisse executives Andrew Pearse and Surjan Singh from the financial services industry following their guilty pleas in the U.S. related to Mozambique's "tuna bond" scandal. The pair accepted substantial kickbacks linked to $1.3 billion in loans to Mozambican state-owned companies, which led to significant financial turmoil after the loans were revealed. Credit Suisse has faced extensive legal repercussions, including a $475 million settlement with authorities and a debt forgiveness agreement with Mozambique.
Lebanon faces a critical juncture as its new government, led by Prime Minister Nawaf Salam, pledges to "rescue, reform, and rebuild" amid a severe economic crisis marked by an $80 billion banking sector deficit and a 90% currency devaluation since 2019. Experts emphasize the need for transparency, independent audits, and legislative reforms to restore trust and attract international aid, while addressing the influence of Hezbollah as a significant barrier to progress. The Depositors’ Union insists on accountability for financial elites and prioritizing depositors' rights in any recovery plan.
Arab stock markets showed positive performance in January, with a composite index increase of 0.97%, driven by strong corporate earnings and supportive monetary policies. The Bourse de Casablanca led gains at 9.98%, while the Tunisian market faced a significant decline of 71.7%. Despite mixed trading values, investor sentiment improved, reflecting a broader global market rebound.
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moroccan superapp ora technologies secures funding to enhance digital services
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16:26 10.03.2025
bahrain and morocco lead digital innovation with strategic startup initiatives
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16:15 10.03.2025
talabat acquires instashop for 32 million enhancing grocery services in MENA
06:00 09.03.2025
Talabat acquires InstaShop for 32 million dollars to enhance grocery delivery
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06:46 07.03.2025
growth trends in middle east private sectors amid economic challenges
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13:42 05.03.2025
Lebanon's private sector growth supported by new business and optimism
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12:29 05.03.2025
aspiration co-founder arrested for defrauding investors of 145 million dollars
03:38 05.03.2025
former credit suisse executives banned in uk after mozambique scandal
14:45 04.03.2025
lebanon faces economic crisis amid calls for reforms and accountability
08:46 02.03.2025
arab stock markets rise as global indices recover in january
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05:20 28.02.2025
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