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Focus on deals | The Middle East Weekly Roundup
The UAE-based online-grocery delivery platform InstaShop has been acquired for USD 360 million by Delivery Hero.
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Qadisha Group
mfaddoul@qadishagroup.com
Latest US filings show that Saudi’s Public Investment Fund (PIF) dissolved its stakes in BP, Boeing, Facebook, Disney, Marriott, Citigroup, and Bank of America.
Etsy Payments, the payment processing arm of global marketplace Etsy.com, is now available for merchants in 7 new countries including Morocco and Turkey.
Startupbootcamp, which already operates Dubai’s Smart City Accelerator and Qatar’s SportTech Accelerator, establishes headquarters in Dubai.
Saudi Payments and JCB International agree on a partnership to enable the acceptance of JCB cards in Saudi Arabia.
The Saudi Ministry of Tourism issues the first license for touristic rental of private property, similar to Airbnb.
The UAE announces government changes to empower digital transformation, creates new Ministry of Industry and Advanced Technology.
This week in MENA: Saudi Customs begins applying 15% VAT on incoming e-commerce packages.
GroupM predicts overall advertising spend to drop by 25% in 2020.
Abu Dhabi Investment Office (ADIO) invested USD 5 million in Shorooq Partners’ Bedaya Fund.