Alexander Cornwell

Japan’s Taisho close to acquiring Bristol-Myers OTC unit in $1.6b deal

U.S. pharma giant Bristol-Myers has sought to sell the unit amid a push to streamline its business globally.


Uber rival Careem launches delivery service, expects to close funding round soon

It plans to spend over $150 million developing the delivery business, starting with food, in Dubai and Jeddah.


Dubai listings site Property Finder snags $120m in General Atlantic-led round

The proceeds will also be used to expand the brand in its existing markets of Saudi Arabia, Egypt, Turkey, the UAE, Qatar, Bahrain, Lebanon and Morocco.


Egyptian tech transport startup Swvl heads to Southeast Asia

Swvl is planning to launch services in Manila in the first quarter next year followed by other cities in the Philippines, Vietnam, and Thailand.


Uber’s Middle East rival Careem secures $200m fresh funding

The $200 million was the first close of a funding round in which it expects to raise over $500 million.


Middle East’s ride-hailing app Careem resumes Oman services

Dubai-headquartered Careem suspended services in Oman in 2017 shortly after launching when the government asked it to first work with licensed taxis.


Uber-rival Careem expands services into Sudan

Dubai-based Careem is Uber’s main Middle East rival, competing in most of the region’s major cities including Cairo, Dubai, and Riyadh.


UAE court dismisses criminal case against Abraaj founder

The dismissal of the case provides breathing room for Naqvi as Dubai-based Abraaj tries to sell its investment management business.


Careem said to allocate $150m for food delivery biz launch

Careem, the main Middle East rival of Uber Technologies, has been trialing food delivery services after announcing in February it had acquired regional online restaurant listing platform RoundMenu.


Dubai’s financial regulator probes Abraaj over alleged mismanagement

The Dubai Financial Services Authority (DFSA) has interviewed the firm’s founder, Arif Naqvi, and other senior executives in the past few months as part of the probe.