CE-Ventures, the corporate venture capital arm of Crescent Enterprises, has announced the successful divestment of its equity stake in Transcorp, a UAE-based logistics and fulfilment company. The strategic sale to Elite Co, a leading regional operator supported by Green Dome Investments, has yielded a remarkable 7.6x multiple on invested capital (MOIC), marking one of the most lucrative exits in the region across all sectors. CE-Ventures initially invested in Transcorp in 2018, playing a pivotal role in transforming the company into a dominant player in cold-chain fulfilment, last-mile delivery, and B2B distribution. Over the years, CE-Ventures collaborated closely with Transcorp’s leadership to institutionalise governance, enhance internal systems, and unlock strategic growth opportunities. Tushar Singhvi, Deputy CEO & Head of Investments at Crescent Enterprises, expressed pride in supporting Transcorp’s evolution into a scalable, institutional-grade logistics company. Rodrigue Nacouzi, CEO and founder of Transcorp, praised CE-Ventures as a strategic partner that contributed significantly to the company’s growth. Sudarshan Pareek, Senior Vice President at CE-Ventures, highlighted the firm’s philosophy of backing mission-driven founders in sectors where operational excellence is key. Hisham Albahar, CEO of Elite Co, emphasised Transcorp’s market-leading position in cold-chain logistics and its strategic importance in Elite Co’s regional expansion. This transaction underscores Crescent Enterprises’ strategy of fostering resilient, high-impact businesses while driving sector consolidation. It also aligns with Elite Co’s broader expansion plans under Green Dome Investments, which aims to consolidate logistics and supply chain assets across the GCC.
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Dubai Golden Visa attracts new wave of property buyers
Dubai’s Golden Visa policy, which offers a 10-year renewable residency to property investors committing at least Dh2 million, has significantly reshaped the emirate’s real estate landscape. The streamlined eligibility criteria, which eliminated the previous Dh1 million or 50% down payment requirement, have positioned Dubai as a dual hub for investment and lifestyle. According to Rebiha Helimi, CEO and Founder of RH Luxury Properties, this policy has become a pivotal factor in attracting global wealth and reshaping investor behavior in 2025. Data from the Dubai Land Department reveals a 36% increase in real estate transaction volume and a 20% rise in value in 2024, totaling Dh761 billion. In the first half of 2025 alone, transactions surged by 26%, with off-plan projects accounting for nearly 70% of deals. Premium residential prices have also climbed, with villas averaging Dh2,088 per square meter. Helimi highlights that many clients now view visa processing and property acquisition as integral components of a strategic plan to leverage Dubai’s offerings. The policy has not only boosted liquidity in the luxury segment but also attracted long-term investors seeking profitability in a politically neutral jurisdiction. Analysts predict that around 9,800 millionaires will relocate to the UAE in 2025, bringing an estimated USD 63 billion in investable wealth. This migration is fueling Dubai’s high-end housing market, reinforcing its global appeal as a hub for asset diversification amid global economic uncertainties.
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India board seeks to criminalise match-fixing ‘to protect cricket’
The Board of Control for Cricket in India (BCCI) has taken a decisive step to combat match-fixing by petitioning the Supreme Court to classify it as a criminal offense. This move aims to intensify pressure on illegal bookmakers and players involved in corrupt practices. In court documents reviewed by AFP, the BCCI emphasized that match-fixing undermines the integrity of cricket and has a detrimental impact on the sport. The board argues that match-fixing constitutes cheating by deception, an offense already recognized under the Indian Penal Code (IPC). The case originates from allegations of match-fixing during the 2018-2019 Karnataka state cricket league, involving six individuals, including players, a coach, and a team owner. Although the High Court dismissed the case in 2022, the BCCI is determined to pursue legal action. The issue of match-fixing in Indian cricket dates back to the infamous 2000 scandal involving South Africa’s captain Hansie Cronje, who admitted to throwing matches and implicated India’s then-captain Mohammad Azharuddin. In response, the BCCI introduced anti-corruption codes in 2019, empowering the board to impose fines and lifetime bans. The BCCI’s legal filing underscores the importance of public confidence in the authenticity of cricket, warning that its erosion could destabilize the sport. The Indian Premier League (IPL) also faced a match-fixing scandal in 2013, leading to bans for key players and suspensions for teams like Rajasthan Royals and Chennai Super Kings. Neighboring Sri Lanka has already implemented stringent laws against match-fixing, including penalties of up to 10 years in prison and hefty fines. The BCCI’s initiative reflects a broader effort to protect cricket’s credibility and ensure its future.
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Fake gold, prizes, urgent bank call: Don’t fall for scammers, says Abu Dhabi police
In response to the escalating threat of cyber fraud, the Abu Dhabi Police has initiated a comprehensive three-month awareness campaign titled ‘Be Cautious’. The campaign aims to educate residents about the latest forms of online scams and encourage vigilance in safeguarding personal and financial information. The initiative highlights prevalent fraud tactics, including phishing links, deceptive phone calls, counterfeit prize notifications, fraudulent e-commerce platforms, and fake investment schemes. Residents are urged to avoid sharing sensitive details with unverified sources and to remain cautious of too-good-to-be-true offers, such as unrealistically priced luxury accommodations or fake gold deals. Major General Mohamed Suhail Al Rashdi, Director of the Criminal Security Sector, emphasized the campaign’s role in enhancing public awareness and fostering collaboration among stakeholders, including the Ministry of Interior, UAE Cybersecurity Council, and leading financial institutions. The campaign leverages a mix of social and traditional media, community councils, and educational institutions to maximize its reach and impact.
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Where cars meet couture: Lynk & Co redefines showroom experience with debut in Sharjah
Lynk & Co, the European premium mobility brand, has redefined the traditional car showroom experience with its debut in Sharjah, UAE. In collaboration with Galadari Brothers, the brand unveiled its first UAE showroom on October 12, 2025, marking a significant milestone in the future of mobility, lifestyle, and community. The event was more than a launch; it was a bold statement about the evolution of automotive retail.
The Sharjah showroom is a fusion of Scandinavian minimalism, urban culture, and cutting-edge technology, creating an atmosphere akin to a social club rather than a conventional car dealership. The opening ceremony, led by Ibrahim Abdullatif Ibrahim Galadari, Group Chief Investment Officer and Director at Galadari Brothers, alongside Lynk & Co leadership, attracted a diverse crowd of media, industry insiders, and guests. The evening featured live DJ performances, signature mocktails, and an immersive exploration of the showroom’s sleek interiors, digital gaming zones, and curated lifestyle corners.
Lynk & Co’s models, including the flagship 09 SUV, were showcased in a boutique lounge setting, emphasizing the brand’s commitment to blending mobility with culture. Rooted in Scandinavian design, safety, and innovation, Lynk & Co combines Volvo-engineered powertrains, advanced driving technologies, and precision craftsmanship, setting a new benchmark in the UAE automotive market.
Since its inception in 2016 under Geely Holding Group, Lynk & Co has aimed to redefine mobility for a new generation of connected, urban drivers. Its vision, ‘Changing Mobility Forever,’ focuses on open, connected mobility, integrating technology, design, and community. All models are designed and engineered in Sweden, with safety at their core, powered by Volvo’s acclaimed Drive-E engines.
The Sharjah showroom reflects Lynk & Co’s disruptive approach to automotive retail, emphasizing exploration and engagement over traditional sales tactics. The brand plans to expand its presence with a flagship club showroom on Sheikh Zayed Road in Dubai, further reinforcing its commitment to fostering open, connected communities.
Ibrahim Abdullatif Ibrahim Galadari remarked, ‘Lynk & Co is more than a car brand; it’s a lifestyle. The Sharjah opening represents the start of a cultural shift, where technology, design, and experience come together to define the future of mobility in the UAE.’
The launch signifies Lynk & Co’s entry into the UAE market and introduces a global collective of drivers, dreamers, and disruptors who envision mobility in a new light. In a world that doesn’t need just another car brand, Lynk & Co offers a fresh perspective on how we move.
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Sequoia COO resigns amid row over partner’s ‘Islamist liar’ attack on Mamdani
Sumaiya Balbale, the Chief Operating Officer at Sequoia Capital, stepped down from her position in August following a controversy involving Islamophobic remarks made by partner Shaun Maguire. According to the Financial Times, Maguire, a venture capitalist with close ties to Elon Musk, posted comments in July targeting New York City mayoral candidate Zohran Mamdani, which Balbale reportedly found offensive and discriminatory. Maguire’s post accused Mamdani’s culture of promoting deceit to advance an Islamist agenda, a statement that sparked widespread backlash. Balbale raised her concerns with Sequoia’s senior leadership, but the firm defended Maguire’s right to free speech, prompting her resignation. Her departure has been widely praised on social media, with many applauding her courage and integrity. The controversy also led over a thousand tech professionals to sign an open letter demanding disciplinary action against Maguire and condemning Sequoia’s inaction. The letter highlighted Maguire’s alleged history of anti-Muslim rhetoric and its impact on the global tech community. Additionally, the incident has strained Sequoia’s relationships with Middle Eastern investors, with some financiers expressing reluctance to collaborate with the firm. Balbale, a practicing Muslim and board member of Shake Shack, has previously spoken about how her identity has shaped her career. Sequoia Capital, Balbale, and Maguire have yet to publicly comment on the matter.
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Edenred UAE strengthens market leadership with financially inclusive payroll solutions
Edenred UAE, a pioneer in digital services and specific-purpose payments, is reinforcing its market leadership in payroll solutions and financial inclusion under the guidance of its new managing director, Claudio Di Zanni. As the first company authorized by the Central Bank of the UAE to process WPS salaries, Edenred has made financial inclusion a cornerstone of its operations, ensuring that access to financial services is not just a perk but a fundamental right for employees. With a robust client base of over 15,000 corporate entities and 2.5 million cardholders, Edenred UAE is trusted by both large enterprises and SMEs, particularly in sectors like manufacturing, construction, and facility management, where reliability is paramount. Its flagship product, the C3Pay salary card, powered by RAKBANK and part of the Mastercard network, offers global usability. A key factor in Edenred’s success is its on-site training programs at worker accommodations, which empower employees to activate their cards, use app features, and engage with financial tools effectively. Claudio Di Zanni emphasized Edenred’s commitment to innovation, compliance, and scaling services that benefit end users. He stated, ‘Our goal is to deepen trust with clients, expand impactful services, and ensure full compliance in a rapidly evolving regulatory landscape.’ Edenred UAE continues to set the standard for secure, ethical, and compliant financial access, positioning itself as a vital enabler of financial inclusion for the UAE’s workforce and beyond.
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Oil rises nearly 5% on fresh US sanctions against Russia
Oil prices experienced a significant surge of nearly 5% on Thursday, driven by fresh U.S. sanctions targeting major Russian energy companies Rosneft and Lukoil in response to the ongoing Ukraine conflict. Brent crude futures climbed by $2.98, or 4.8%, reaching $65.57 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose by $3.01, or 5.2%, to $61.51 per barrel. The sanctions, which extend measures previously imposed by Britain and the European Union, aim to pressure Moscow into agreeing to a ceasefire in Ukraine. The U.S. has warned of further actions if Russia fails to comply. The sanctions have forced major buyers of Russian oil, such as China and India, to reconsider their supply chains to avoid exclusion from the Western financial system. Indian refiners, including Reliance Industries, are reportedly planning to sharply reduce or halt imports of Russian crude. However, market analysts remain skeptical about the long-term impact of these sanctions, given Russia’s resilience in maintaining oil production and revenues despite previous measures. Oversupply concerns, fueled by OPEC+ production increases, have also tempered crude price gains. Meanwhile, U.S. demand for crude oil, gasoline, and distillates has strengthened, leading to a decline in inventories and supporting market sentiment.
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How Trump flip-flopped on the East Wing’s complete demolition
In a surprising turn of events, former President Donald Trump’s position on the demolition of the East Wing has undergone significant changes. Initially, the decision to dismantle the historic structure was met with controversy, as it aimed to pave the way for a lavish $250 million (£186 million) ballroom at the White House. Critics argued that the move disregarded the architectural heritage of the building, while supporters viewed it as a modernization effort. Trump’s fluctuating stance on the issue has sparked debates about the balance between preserving history and embracing progress. The demolition, now completed, marks a pivotal moment in the White House’s architectural evolution, raising questions about the long-term impact on its historical legacy and public perception.
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Dubai-Based startup SpeakUp reaches 30,000 users in five months
SpeakUp, an innovative Dubai-based technology startup, has achieved a remarkable milestone by amassing 30,000 users within just five months of its launch. This AI-powered platform is transforming the global event and public speaking industry by facilitating direct connections between event organizers and speakers, eliminating the need for traditional intermediaries. Since its inception, SpeakUp has experienced a consistent monthly user growth rate of nearly 20%, attracting users from diverse regions including North America, Europe, the Middle East, and Asia. The platform allows organizers to post speaking opportunities—ranging from conferences and summits to podcasts—while verified speakers can apply directly, streamlining the booking process and reducing delays typically associated with speaker bureaus or agent-led systems. Nick Zhuchkov, co-founder and CEO of SpeakUp, emphasized the company’s mission to simplify and democratize speaker-organizer interactions. ‘We designed SpeakUp to be intuitive, fast, and borderless, catering to everyone from grassroots podcast hosts to major international conferences,’ he stated. The platform integrates communication, smart recommendations, and booking into a single interface, leveraging artificial intelligence to match speakers with relevant opportunities. This automation has significantly reduced lead times for event planners, with most bookings occurring without manual negotiation. SpeakUp has also attracted high-profile users, including Uzair Merchant, a celebrated director in Hollywood and Bollywood, and Laura Buckwell, a renowned event host in the Middle East. The company has recently witnessed a surge in signups, with over 400 new users joining within a single hour during a recent evening. This momentum reflects a broader industry shift toward more efficient and accessible speaker engagement. SpeakUp is now focusing on expanding its product features and forging new partnerships across media, education, and events sectors, further solidifying its position as a game-changer in the industry.