MENA’s Digital News, Week #19

A weekly round up of the top headlines from the digital sector in MENA, covering startups, corporate and the public sector.

Investments & Acquisitions

Melltoo, Dubai-based secondhand ecommerce platform, closes bridge round from 500 Startups, KISP Ventures, Khwarizmi Ventures and Shorooq Investments

VentureSouq invests in US-based Oxygen, digital bank, focused on freelancers and the gig-economy 

Sector News

Saudi’s PIF hedged most of its 4.9% stake in Tesla 

Oyo, Indian hotel management chain, signs tech deal with Saudi’s Ministry of Hajj and Umrah 

Saraha, Saudi anonymous posting app, launches “Enoff” an app for anonymous office-place harassment reporting (AR) 

Swvl, Cairo’s on-demand shuttle service, expands operations to Nairobi, Kenya 

Viu, Singapore-HQ OTT service with MENA presence, launches original content series in Saudi Arabia

Etihad Airways the launch of an in-house AI academy in partnership with Microsoft

Wired Middle East to launch with a partnership between Condé Nast International and Nervora

Further Readings

Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) to merge and together to acquire Al Hilal Bank

Independent Arabia has been launched under a licensing agreement between the UK news brand and the Saudi Research and Marketing Group (SRMG)

Kuwait Finance House (KFH) announces a Bahrain’s Ahli United Bank Merger

China is looking to increase investment in the UAE via an “Annual Investment Meeting” 

MSCI and Saudi’s Tadawul launch a tradeable index: MSCI Tadawul 30 Index

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