
LG Washing Technology Integration Supports Smart Home Ecosystem Growth Across Gulf Markets
From fabric care that extends garment lifespans to energy optimization that reduces environmental impact, LG's AI-enabled washing machines demonstrate how intelligent appliances can deliver both superior performance and sustainable living solutions. This holistic approach positions LG not just as a technology provider, but as a catalyst for smarter, more conscious household management across the Gulf region.
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Wamda
3 hours ago
- Wamda
Boxy emerges from stealth after a $1.5 million boost from EQIQ
Iraq-based logistics aggregator Boxy has closed a $1.5 million pre-seed investment provided by EQIQ, as part of EQIQ's venture-building strategy to address key market gaps and scale Iraq's digital infrastructure. Boxy was co-founded in 2024 by Ahmed Baqer and Mehrshad Pezeshk and aims to streamline Iraq's fragmented last-mile delivery sector by integrating couriers into a single, intelligent shipping platform, offering merchants real-time, optimal shipping options. The partnership allows Boxy to leverage EQIQ's extensive network and resources for its growth. Press release: EQIQ, a venture capital fund and venture builder led by founding partners with a track record of investing over $500 million in technology ventures and generating returns exceeding 3.3x, unveils its $1.5 million pre-seed investment in Boxy, Iraq's first AI-powered logistics aggregator. Co-founded in 2024 by CEO Ahmed Baqer and CTO Mehrshad Pezeshk, alongside EQIQ, Boxy aims to seamlessly integrate Iraq's 1,500+ last-mile couriers within a single, intelligent shipping platform. Boxy has demonstrated signs of early product-market fit, achieving high double-digit growth consecutively since its launch in October 2024. This investment reflects EQIQ's venture-building strategy of launching ventures with experienced entrepreneurs at the helm, filling critical market gaps. Logistics is the vital backbone driving the growth of e-commerce, particularly in a cash-dominant market such as Iraq. Boxy's launch marks a foundational step in EQIQ's vision to scale Iraq's digital infrastructure by building a cohesive digital ecosystem encompassing fintech, logistics, and e-commerce. 'Logistics is the backbone of the daily operations of the tech ecosystem,' said Mohamed Al-Hakim, Founding Partner at EQIQ. 'Boxy offers a tech-enabled, AI-powered logistics platform that helps merchants scale their businesses. By pairing our resources and networks with exceptional founders with 25+ years of sector expertise, we've built a venture designed to reshape how parcels move across Iraq and, soon, beyond.' Boxy's leadership team embodies EQIQ's hallmark emphasis on exceptional founders with proven experience. CEO Ahmed Baqer brings over a decade of experience scaling operationally intensive startups such as Careem Iraq and Northladder. CTO Mehrshad Pezeshk has over 15 years of experience building and exiting tech-driven logistics ventures in the Middle East and North America. 'Our partnership with EQIQ is a shared vision for re-engineering Iraq's logistics sector in a way that doesn't require more shipping companies,' said Ahmed Baqer, Boxy's co-founder and CEO. 'Iraq needs a one-stop-shop logistics platform. Boxy helps merchants find the best shipping option per order using real-time data, eliminating the risk of relying on a single carrier.' Boxy addresses the challenge of a fragmented last-mile delivery market by layering an AI-matching engine over an existing network of last-mile delivery players. Its proprietary platform routes each shipment to the optimal courier, using a data-driven approach linking merchant preferences with courier performance. Merchants gain a fully integrated solution solving multiple pain points, rather than juggling numerous dashboards, printing various labels, or navigating tedious courier negotiations. Boxy cuts merchant onboarding time from weeks to hours. Boxy has experienced significant growth, with a 100% increase in merchants last month alone. The company is on track to integrate with leading courier networks in Baghdad and major provincial cities, capitalising on the $1.5 million investment to further develop its in-house proprietary tech and scale operations across Iraq. 'There's a myth that Iraq's last-mile market is unsolvable,' explains CTO and co-founder Mehrshad Pezeshk. 'With smart technology and the right infrastructure, we're proving otherwise. We are working side-by-side with EQIQ to build a robust, seamless foundation for Iraq's logistics market.' Unlike traditional VC investments, EQIQ's greenfield approach positions the firm as Boxy's co-founder. From day one, EQIQ provided Boxy with strategic capital injection and operational and structural support while leveraging its ADGM headquarters.


Jordan Times
12 hours ago
- Jordan Times
Petra attracts nearly 291,000 visitors in seven months, majority foreign tourists
AMMAN — The ancient city of Petra has welcomed approximately 291,000 visitors during the first seven months of 2025, with foreigners making up the majority, according to official data cited by the Al Mamlaka TV. Foreign tourists accounted for 193,061 visitors, representing 66 per cent of the total, with Jordanians and Arab tourists making up the remaining 34 per cent with 78,889 and 19,219 visitors respectively. In July alone, Petra recorded 29,000 visitors, according to official figures, with tourism in the ancient city declining by 61 per cent in 2025 compared to last year. Figures from the Petra Development and Tourism Region Authority (PDTRA) show that Petra has attracted nearly 9.8 million visitors since 2010. Visitor numbers peaked in 2019, before the COVID-19 pandemic, with over 1.14 million tourists and, in 2023, tourism rose to 1.17 million until the outbreak of the war on Gaza in October, after which the numbers plummeted. Last year, visitor numbers fell sharply to 457,215, a 61 per cent decrease compared to the same period in 2023, according to PDTRA figures. PDTRA Chairman Fares Braizat said on Sunday that the ancient city has witnessed a sharp decline in tourist numbers, leading to the closure of 32 hotels, amounting to 2,000 rooms, and the loss of 700 jobs. 'Petra is one of the most affected tourist sites by the decline in visitor numbers due to the war on Gaza and its repercussions on the region,' Braizat told members of the Lower House committees. He added that approximately 38,000 residents of Petra rely either directly or indirectly on the tourism industry, and have been hit hard by what he described as a 'crisis.' To mitigate the impact, tourism-related professions have been temporarily exempted from licensing requirements, and some tenants have been relieved of rent dues for 2024, Braizat noted. Jordan Tourism Board (JTB) Director General Abdel Razzak Arabiyat echoed the concerns, saying there has been 'almost a complete decline of tourism in Jordan' following the outbreak of war in Gaza. 'Petra, which heavily relies on tourists from Europe and the United States, has been particularly affected,' he said. 'The repercussions are felt daily, especially by those working in tourism services,' Arabiyat told Al Mamlaka TV. He cited plummeting numbers of Western visitors, which have negatively impacted hotels, tour guides, travel agencies, and transport operators in the Petra region. The Ministry of Tourism and Antiquities on Saturday announced a new set of tours under the "Urdunnah Jannah" programme aimed at revitalizing Petra's tourism sector. The initiative will organize overnight stays in the city as part of a broader review of the programme in light of regional developments. The ministry said the new tour package, funded with JD1.5 million from the programme budget, in addition to contributions from participants, is part of ongoing efforts to support local communities and boost tourism recovery in Petra.


Jordan Times
12 hours ago
- Jordan Times
Agricultural producer prices rise in 6 months
AMMAN — The cumulative agricultural Producer Price Index (PPI) for the first six months of this year reached 122.3 percentage points, compared with 111.3 percentage points for the same period last year, marking an increase of 10 per cent. In comparison between the first six months of the current year with the same period last year, the prices of agricultural producers of a number of crops, most notably: chili peppers, green sweet peppers and flowers. The productions relative importance constituted 65.5 per cent, and the index rate witnessed a decrease in the prices of a number of crops, most notably: potatoes and eggplants, with a relative importance of 34.5 per cent, the Jordan News Agency, Petra, reported. According to the monthly report of the Department of Statistics (DoS) released on Monday, the agricultural PPI for June of this year recorded 143.1 points compared with 137.5 points for the same month last year, an increase of 4.1 per cent. On the scale of the monthly change, the agricultural Producer Price Index (PPI) for June 2025 increased compared with the same month of 2024, mainly due to the increase in the price index of a number of crops. The most important of which are: strawberries, okra, and berries, where the relative importance of crops whose prices increased was 52.3 per cent. On the other hand, the price index of a number of crops decreased, most notably: Cherries, mushrooms, and colorful bell peppers, and the relative importance of crops whose prices fell were 47.7 per cent. The agricultural PPI for June 2025 recorded 143.1 points compared with 145.1 percentage points of the previous May of the same year, recording a decrease of 1.4 per cent. The index for the month of June 2025 was decreased with the previous month of the same year, the prices of a group of crops, whose relative importance constituted 85.5 per cent. The most important of which were molokhia, grapes, and figs, while the price index of a group of crops, the most important of which are: Zahra, Lokdnia, and green onions, increased, with a relative importance of 14.5 per cent.