Latest news with #Saudi-based
CairoScene
2 days ago
- Business
- CairoScene
Stitch Raises $10M to Expand Fintech Services in Emerging Markets
The Saudi-based fintech will use the funding to expand into high-growth regions including East Africa. May 29, 2025 Saudi-based fintech infrastructure provider Stitch has raised $10 million in an extension of its Series A funding round. The round was led by investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC. Founded in 2022, Stitch offers APIs that allow businesses to build and scale financial products, including tools for account linking, payment initiation, identity verification, and financial data access. Launched initially for Saudi Arabia and the UAE, Stitch has attracted interested in East Africa in countries such as Kenya, and plans to use the new funds to further develop its end-to-end payments suite and expand into additional markets across Africa and the Middle East. According to the company, this latest investment will support its geographic expansion, product development, and hiring efforts, with a particular focus on improving user onboarding and payment reliability in underserved markets.
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
Echoes of Trump's Gulf Tour in Washington
Donald Trump's recent tour of Saudi Arabia, the United Arab Emirates, and Qatar was, by all accounts, a resounding success. In less than 72 hours, the US president secured deals worth nearly $4trn, while the Gulf states saw in these agreements an opportunity for economic and security partnerships they have long sought—strategic imperatives tied to their national survival and continuity. On the surface, it was a mutually beneficial enterprise. However, across the Atlantic, skepticism abounds. In Washington, many observers perceive Trump's Gulf deals as rife with conflicts of interest and ethical ambiguities. During his return flight aboard Air Force One, the US president conspicuously sidestepped questions from journalists about the legal and moral implications of his family's business dealings in the region. When asked about a $2bn cryptocurrency deal reportedly struck by a UAE-based company with a Trump-affiliated firm, he disclaimed knowledge: 'I really don't know anything about it,' he insisted, before reiterating his enthusiasm for cryptocurrency and warning that, should the US fail to lead in crypto and AI, China inevitably will. Further controversy surrounds the proposed 'LIV Golf' resort project—heavily financed by Saudi Arabia and linked to Trump—which reportedly featured prominently in his private discussions with Crown Prince Mohammed bin Salman. And this was merely one among a slew of deals inked during the visit, involving Trump family ventures in Saudi Arabia, Qatar, the UAE, and Oman. These included the Trump International Hotel and Tower in Dubai, a Doha golf resort in partnership with Qatar's sovereign wealth fund, Trump Tower Jeddah, a hotel under construction in Muscat, and a partnership with Saudi-based Dar Global. These lucrative ventures bearing the Trump name have fueled political uproar in Washington—not only among Trump's Democratic opponents but even within Republican circles. Critics note that the US president never formally divested from the Trump Organization and continues to profit from its business dealings well into his political comeback, actively promoting these ventures despite officially transferring management to his family before reentering office. This tangled web of personal gain and public duty has eroded voter trust. As US media outlets increasingly question whether Trump prioritizes national interests or personal enrichment in shaping foreign policy, White House Press Secretary Karoline Leavitt felt compelled to declare that any gifts from foreign governments were being handled 'in full compliance with all applicable laws' and that the administration remained committed to complete transparency. Trump's strategic embrace of the Middle East is no secret. The region provides fertile ground for the US president's ambitions to recast himself as both a global peace broker and a champion of open business and diplomacy. In this context, it was hardly surprising that, during his Riyadh visit, he unveiled plans to lift US sanctions on Syria and extended an olive branch to Iran, offering 'a new and hopeful path' toward a better future. While visiting Qatar, he publicly praised the warming ties between Doha and Riyadh and lavished compliments on his Qatari host: 'We just came from Saudi Arabia, where we have another great friend. You guys get along beautifully, and you remind me of each other—both tall, handsome, and very smart.' Such sentiments marked a striking pivot from Trump's first term, when he had singled out Qatar as a chief sponsor of terrorism. Nor was it surprising that he defended Qatar's controversial gift of a private jet—a Boeing 747 worth over $1bn, twice the aircraft's publicly stated value—hailing it as a 'magnificent gesture' and suggesting it would be foolish to refuse. Trump insisted the plane would eventually be donated to his presidential library foundation upon leaving office. Democrats swiftly seized on the growing scandal. The Democratic National Committee announced plans to fly a banner reading 'Qatar-a-Lago' over Trump's Mar-a-Lago estate, while some Republican allies voiced unease. Senator Ron Johnson of Wisconsin labeled the aircraft gift 'a bizarre gesture,' and Senator Ted Cruz of Texas warned it could raise serious espionage and surveillance concerns. Now, that very jet may serve as grounds for congressional action against Trump. The spark came at a White House press conference when Trump expelled an NBC journalist for broaching the topic. Lawmakers are now examining legislative amendments to block the jet's entry into the United States, potentially risking political fractures within the Republican Party while arming Democrats with a potent line of attack ahead of a turbulent midterm season. Senate Minority Leader Chuck Schumer unveiled draft legislation to prohibit the use of any foreign aircraft for presidential transport, framing Trump's scheme as a national security hazard laced with corruption allegations. The bill would prevent the Pentagon from allocating any federal funds to acquire, modify, or maintain such an aircraft for presidential use. According to NBC News, the plane's true value exceeds $1bn, far surpassing the declared figure and threatening to burden American taxpayers. Senator Rand Paul voiced concern that the Qatar jet risked overshadowing what had otherwise been a diplomatically fruitful Middle East tour. Trump, meanwhile, took to his Truth Social platform to accuse 'crooked Democrats' of being incensed by what he called a transparent and public gift to the Defense Department intended to replace the aging 40-year-old presidential aircraft. Ultimately, Trump's Gulf visit revealed how thoroughly the lines between public office and private business interests have blurred. US media outlets are now delving deeper into these murky intersections, with further revelations likely to follow. Dr. Hatem Sadek – Professor at Helwan University
Iraqi News
4 days ago
- Sport
- Iraqi News
Iraqi stars Bayesh, Rashid, Putros join Basra camp for World Cup qualifiers
Basra ( – Key members of the Iraqi national football team have begun arriving at Basra International Airport to join the squad's training camp at Basra Sports City. The camp, led by new head coach Graham Arnold, is in preparation for crucial 2026 FIFA World Cup Asian qualifying matches. Among the arrivals are Saudi-based Al-Riyadh SC professional Ibrahim Bayesh, Erbil SC's Osama Rashid, and Port FC (Thailand) defender Frans Putros. The first training session under Arnold took place on Monday (May 26, 2025) with 19 players present. Star midfielder Montadhar Majid of Sweden's Hammarby IF is expected to join the 'Lions of Mesopotamia' after playing his final club match next Saturday. Iraq faces two vital qualifiers in early June: against South Korea on June 5th and Jordan on June 10th. The team is now intensifying its preparations as the full squad assembles under their new Australian coach for these pivotal encounters.
News18
4 days ago
- Politics
- News18
Is Saudi Arabia Lifting 73-Year-Old Alcohol Ban Ahead Of 2034 World Cup? Here's What We Know
Last Updated: Saudi-based Arab News quoted informed sources who rubbished the claims, saying they lacked any official confirmation from relevant authorities Saudi Arabia officials have denied media reports claiming the kingdom plans to lift its 73-year ban on the sale and consumption of alcohol by 2026 in view of hosting the football World Cup tournament in 2034. The report appeared in several international media outlets last week, triggering controversy in the kingdom. However, Saudi-based Arab News quoted informed sources who rubbished the claims, saying they lacked any official confirmation from relevant authorities and 'do not reflect existing policies or regulations in Saudi Arabia". 'Under its ambitious vision to develop the tourism sector, Saudi Arabia remains committed to offering a unique and culturally immersive experience," a source told Arab News. Saudi Arabia has maintained an alcohol ban since 1952, prohibiting both citizens and foreign nationals from consuming alcoholic beverages. However, since January 2024, a shop in Riyadh has been granted permission to sell alcohol to non-Muslim diplomats under strict regulations. In February, Saudi Arabia's ambassador to the United Kingdom, Prince Khalid bin Bandar Al Saud, confirmed that alcohol will not be permitted at the 2034 FIFA World Cup. The report of the ban being lifted, which came as Saudi Arabia is witnessing a series of reforms under Crown Prince Mohammed bin Salman, triggered a controversy in the conservative country, which is the custodian of the Two Holy Mosques—Islam's most revered places in Mecca and Medina. (With agency inputs) First Published: May 27, 2025, 16:37 IST
Hans India
6 days ago
- Hans India
Terror linked accused questioned for third day
Vizianagaram: The investigation into the high-profile bomb conspiracy case intensified as questioning of key suspects Siraj and Sameer entered its third day, on Sunday. The interrogation is currently un-derway at the Police Training College, led by teams from the National Investigation Agency (NIA), Counter Intelligence, and local police. The probe is going to dig out the terror links, financial transactions, and the broader explo-sives conspiracy. Officials are closely examining Siraj's social media posts, with a particular focus on a post flagged by a revenue officer from Visakhapatnam, whose identity is now un-der scrutiny. The suspects are currently in custodial interrogation, as multiple agencies investigate the ter-ror angle. The NIA has recorded lengthy statements from both Siraj and Sameer. Investigators plan to take them to Hyderabad for scene reconstruction, while probing meetings allegedly held in the city. Social media activities, especially a handle named 'Magic Lantern', have emerged as a key communication platform for the accused. Authorities have identified a group of 12 members spanning Telangana, Andhra Pradesh, Karnataka, and Maharashtra, allegedly linked to the plot. Investigators are also tracking funds reportedly originating from Saudi-based handlers, with ₹40 lakh traced to Sameer's account. Statements from the suspects' families have been rec-orded as the multi-agency probe digs deeper into cross-border terror finance networks. On the otherside, the investigation agencies are probing another angle of creating a team with some hardcore followers to be converted into human bombs. As per the information, Siraj has converted around 20 persons into human bombs to plan blasts in Hyderabad, Mumbai, Bengalore, Delhi and even in Vizianagaram. The investigation is going to find out the persons to are converted into human bombs and on the way to find out them.
