Kuwaiti E-Commerce Firm Draws Careem Backer in New Funding Round
Jun 27 2021, 3:20 PM
June 27 2021, 11:30 AM
June 27 2021, 3:20 PM
(Bloomberg) An early investor in ride-hailing firm Careem is backing Kuwaiti e-commerce company Floward, which expects to post a profit next year as the pandemic accelerates a shift to online sales.
(Bloomberg) An early investor in ride-hailing firm Careem is backing Kuwaiti e-commerce company Floward, which expects to post a profit next year as the pandemic accelerates a shift to online sales.
The company said its series B funding round raised $27.5 million and was led by STV, a Saudi technology venture capital fund that previously invested in Careem, which was acquired by Uber Technologies Inc. for $3.1 billion.
DUBAI: GFH Financial Group has acquired a FedEx leased warehousing and logistics facility in Ohio, US, as it scales up its global investments in the industrial sector. The Bahrain-listed group said the transaction was part of its strategy to invest in “high quality logistics assets in key distribution hubs,” especially amid a surge in the e-commerce scene. “An increase in
Iranian Embassy tweet fuels rumors after Hezbollah accused of ‘power grab’
Updated 27 June 2021
June 27, 2021 01:59
BEIRUT: Lebanese authorities have rejected suggestions that the country is planning to import oil from Iran amid a worsening energy and currency crisis.
Lebanon’s energy ministry on Saturday said that it had received no requests for a “permit, either from an official or private party, to import oil from Iran.”
The official Lebanese response followed a tweet by the Iranian Embassy in Beirut saying that “the arrival of Iranian oil tankers does not need the attention of the US ambassador.”
The embassy warned the US envoy not to intervene “in the brotherly relations between the Iranian and Lebanese peoples.”
DUBAI: State investor Mubadala’s satellite company Yahsat has set an indicative price range for its initial public offering which shows it could raise up to 2.976 billion dirham ($810 million) in the IPO, a newspaper advertisement showed. This will be the first major IPO of a company on the Abu Dhabi bourse since Abu Dhabi National Oil Co. Distribution was listed in 2017 and