Digital Middle East – The best digital news of the week!

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Etisalat accelerates adoption of AI, blockchain in Mideast

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Future Now, the innovation program of Etisalat, has signed agreements with four scaleups to develop artificial intelligence (AI) and blockchain solutions following the successful Dubai Future Accelerators program.

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Dubizzle stake acquired for $190 million

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UAE-based online classifieds website Dubizzle has been fully acquired by Naspers, a South Africa-based investor through its subsidiary OLX Group.

According to Wamda’s calculations, this effectively values Dubizzle at about $400 million at the time of the acquisition. If the valuation was driven by revenues, it is likely that Dubizzle’s turnover stands at about $40 million per year as typically, online marketplace companies are valued at 10 times their revenue. However, it would be difficult to determine if the valuation was driven by revenue or if it was a pre-determined valuation at the time of the initial acquisition.

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Saudi Arabia to begin building homes in futuristic city Neom

Saudi Arabia said it will start building the first residential area in a proposed $500 billion futuristic city that’s become a symbol of Crown Prince Mohammed bin Salman’s ambitions for life after oil.

The kingdom plans to start work on Neom Bay in the first quarter this year, according to the state-run Saudi Press Agency. The area will have “white beaches, a mild climate and an attractive investment environment,”

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Aramex launches crowd-shipping solution Aramex Fleet in Saudi Arabia

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Aramex has introduced ‘Aramex Fleet’, a crowd-based delivery platform that connects Saudi nationals to flexible last mile delivery work to leverage Saudi Arabia’s sharing economy.

Aramex is the first major international logistics and transportation provider to integrate this service in the MENA region, and plans to introduce the platform to at least 10 more countries over the next 12 months.

Learn more about Aramex Crowd-shipping solution

About Trendbase

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