Middle East

Dubai-based early-stage venture capital firm COTU Ventures is announcing that it has raised $54 million for its inaugural fund to support startups in the Middle East from pre-seed to seed stages. With a final close achieved last year, COTU Ventures, which identifies and backs founders from the inception to post-product launch, invests between $500,000 to $1.5 million as an initial check. Over the past two and a half years, COTU Ventures has actively deployed capital into startups across the GCC, focusing primarily on…

Akasa Air Orders 150 Boeing Jets To Expand Its Presence In The Indian Aviation Market. (Photo: Akasa Air)Akasa Air elevates its game with a bold move, ordering 150 Boeing jets at 'Wings India' air show. Aiming high in Indian aviation, plans for global expansion.At WINGS India 2024, Akasa Air, India’s fastest-growing airline, has solidified its position in the aviation industry with a firm order of 150 fuel-efficient Boeing 737 MAX aircraft.The order, comprising 737 MAX 10 and 737 MAX 8-200 jets, signifies a significant…

Image Source : SAMSUNG Samsung Samsung’s newly launched flagship Galaxy S24 series which has seen a record of 250,000 pre-bookings in India in just 3 days after the launch. This has made it the most successful Galaxy S series device ever, the company said. 250,000 pre-bookings In comparison, Samsung had further secured around 250,000 pre-bookings for its…

Updated Jan. 12, 2024 7:11 am ETBERLIN—Tesla plans to halt production at its biggest factory in Europe for two weeks as the conflict in the Red Sea continues to disrupt transport ships, raising the specter of a new supply-chain crisis for European manufacturers dependent on parts from China and other Asian countries.Tesla said in a statement Friday that it would stop nearly all production at its factory near Berlin from Jan. 29 to Feb. 12 because of a lack of components.Copyright ©2024Dow Jones & Company, Inc. All…

Since acquiring Business Insider nine years ago, Axel Springer has largely steered clear of intervening in the news outlet’s editorial operations, even when high-profile people objected to unflattering articles about them.That hasn’t been the case in recent days. Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Since acquiring Business Insider nine years ago, Axel Springer has largely steered clear of intervening in the news outlet’s editorial operations, even when…

The management philosophy known as DEI, which had gathered momentum since 2020, has been under siege over the past year because of a collision of legal, economic and geopolitical forces. The Supreme Court struck down affirmative action in colleges, removing the legal rationale buttressing many diversity programs. An expected slowdown in the economy prompted companies to cut jobs and financial support for diversity, equity and inclusion initiatives. And the Israel-Hamas war and college presidents’ responses to antisemitism…

Updated Jan. 1, 2024 9:26 pm ETChina Evergrande New Energy Vehicle said an agreement for a Dubai-based automaker to subscribe to its shares has expired, raising fresh doubts about a potential cash injection for the Chinese electric-vehicle manufacturer.The parties to the share subscription and the loan conversion agreement by Nasdaq-listed carmaker NWTN haven’tagreed to extend the long stop dates, which expired Dec. 31, 2023, Evergrande New Energy Vehicle, also known as Evergrande Auto, said in a filing late…

Updated Dec. 18, 2023 8:19 am ETBP will pause all oil-tanker shipments through the Red Sea after attacks in the area from Yemen’s Houthi rebels, adding to similar moves from major shipping companies in recent days.“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea,” the London-based energy major told Dow Jones Newswires.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8…

Tamara, a buy now pay later platform for consumers in Saudi Arabia and the wider GCC region, has raised $340 million in a financing C round that values the fintech at $1 billion. Saudi asset manager and financial institution SNB Capital and Sanabil Investments, a wholly-owned company by Saudi’s sovereign wealth fund Public Investment Fund (PIF), led the Series C round. Other backers include Shorooq Partners, Pinnacle Capital, Impulse and others, joining existing investors such as Checkout.com. The round, composed of…

The complicated mind of Elon Musk has taken center stage—intentionally or not. This could have been—should have been—a week all about Musk’s goodwill trip to Israel that he made Monday after an outcry followed his tweeting in support of antisemitic vitriol. Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 The complicated mind of Elon Musk has taken center stage—intentionally or not. This could have been—should have been—a week all about Musk’s goodwill trip to Israel…