News
E-City announces AED 67 million expansion bid for GCC
E-City, the electronics retail arm of Albatha Group, one of the UAE’s largest conglomerates, has revealed a strategic AED 67 million expansion initiative that is aimed towards reinforcing the company’s market presence in the UAE and the GCC region. The move demonstrates the company’s continuing efforts to further consolidate their regional operations while also maintaining their leading position as a prime retailer of world-class, multi-branded electronic products. The implementation of the new strategy follows after the company marked excellent performance in 2017. E-City has expressed confidence that the efforts to increase its market presence combined with a continuously growing electronics consumer market will help the company drive in a 20 per cent sales growth by the end of this year.
According to the company’s senior executives, E-City will initially move towards reinforcing its presence in the UAE and gradually grow its market in the region. The efforts will commence during the second quarter of 2018, focusing on the opening of newer stores across the UAE and moving on to the Kingdom of Saudi Arabia and Oman. The initiative is also expected to help in the creation of job opportunities. To date, E-City’s stores are spread across the UAE including its branches in the Mall of Emirates, The Dubai Mall and Mirdiff City Centre (all in Dubai); Al Wahda Mall and Dalma Mall (Abu Dhabi); and Sharjah City Centre.
“Positive market forecasts and increased consumer demand has prompted us to roll out this bid for 2018, which is aimed towards making a stronger impact and marking our presence across the GCC region,” said Jaouad Dakir, CEO, E-City. “We have earmarked an investment of AED 67 million for the expansion efforts. The company will start its expansion in the UAE – specifically in Dubai’s Deira City Centre and three other locations in the UAE. For the GCC region, we will start broadening our horizon in Saudi and Oman. The move reflects our deep commitment towards providing our customers a unique experience into the future of electronics and what it can offer. This exciting news will play a key role in addressing the growing demand for gadgets and electronics in Dubai and across the GCC. We are continuously building up our portfolio in the region and our success stems from our innovation and thus results to customer loyalty.”
Dakir, who led the company’s AED 35 million renovation investment of all E-City outlets in the UAE, highlighted the potential of the KSA market, emphasizing that emerging technologies are expected to foster innovation, which could make radical changes in business models and heighten efforts to achieve the ambitious Saudi Vision 2030.
He added, “The KSA is a big market with a fast-growing segment for consumer electronics. Customers are always looking for a trusted and a reliable brand that is at the forefront of technology and E-City remains steadfast in its commitment to offer distinctive products and services delivered with a customer-centric attitude.”
More recently, the company was named as the ‘Most Admired Retailer of the Year – Consumer Electronics’ category of the ‘2017 Images RetailME Awards,’ which recognizes the region’s best retailers.
Automotive
AW Rostamani Trading Company and Groupauto Middle East, Africa & India Forge Strategic Partnership to Advance Automotive Aftermarket Industry

AW Rostamani Trading Company, the strategic arm of AW Rostamani Group’s mobility services division, and Groupauto Middle East, Africa & India, a regional subsidiary of Groupauto International, have entered a strategic partnership to drive innovation and growth in the automotive aftermarket sector.
The agreement was formalised at AW Rostamani Group’s Head Office, with the signing ceremony attended by Sanaa Ouahmane, CEO of AWR Mobility Services & AWR Trading, and Mesut Urgancilar, Managing Director of Groupauto Middle East, Africa & India.
This collaboration represents a significant milestone for both entities, combining AWR Trading’s regional expertise and distribution capabilities with Groupauto’s global network spanning 33 subsidiaries and over 114 countries. By aligning strengths, both parties aim to elevate supply chain efficiencies, enhance supplier engagement, and expand market access – ultimately benefiting the broader automotive aftermarket industry in the region.
Sanaa Ouahmane, CEO of AWR Mobility & AWR Trading, commented on the partnership: “At AWR Trading, we are committed to driving innovation and expanding our capabilities within the automotive aftermarket industry. Our partnership with Groupauto Middle East, Africa & India enables us to tap into their extensive global network and supplier relationships, reinforcing our position as a leading distributor in the region. This collaboration allows us to not only enhance our access to high-quality automotive components but also bring greater efficiencies and value to our customers.”
Mesut Urgancilar, Managing Director, Groupauto Middle East, Africa & India, stated: “We are happy and honoured to enter this partnership with AWR Trading. With the strong presence and expertise of AWR Group in this region and the global automotive network of Groupauto, we look forward to synergies for both the Groups and enhanced presence in this region. Groupauto looks forward to working with AWR Trading on all aftermarket products, workshop programmes and digitalisation in line with their vision of growth and innovation.”
Through this partnership, both AWR Trading and Groupauto Middle East, Africa & India will unlock new opportunities. AWR Trading will gain optimised procurement processes and cost advantages on key brands under its distribution portfolio, while Groupauto strengthens its regional foothold and expands collaboration with a trusted and established partner in the UAE. Together, both companies are setting new benchmarks for innovation, efficiency, and customer value within the automotive aftermarket sector.
This agreement highlights AW Rostamani Group’s and Groupauto’s shared vision for strategic growth and industry leadership. By leveraging their collective expertise and resources, they aim to create a more connected and competitive aftermarket ecosystem in the Middle East and Africa.
Financial
SemanticPay: Pioneering Seamless AI Transactions for the Agent Economy

A cutting-edge AI startup emerges from stealth, announcing the launch of SemanticPay, a groundbreaking solution designed to power the emerging AI agent economy. SemanticPay is set to become the essential infrastructure that enables AI-powered agents to seamlessly transact and create value in the digital world. Developed by a team of AI, FinTech, and Web3 experts, SemanticPay will establish the monetization layer necessary to support autonomous AI agents, positioning itself as the first mover in this transformative space.
The rapid evolution of AI, decreasing compute costs and breakthroughs in AI models like DeepSeek R-1 are democratizing access to powerful AI leading to the proliferation of autonomous “AI agents” – intelligent systems capable of executing complex tasks, optimizing workflows, and unlocking new revenue streams. However, the current internet infrastructure, designed for human interactions, presents significant challenges for AI agents to transact seamlessly. “The internet was built by humans for humans, not agents,” says one of the co-founders of SemanticPay. Challenges arise such as compatibility issues with human-centric systems, regulatory uncertainty that slows adoption rate, restrictive firewalls that misidentify agents as bots, and outdated monetization models not suited for microtransactions.
This is where SemanticPay steps in – building the “Visa for AI” – a comprehensive platform that addresses these challenges and empowers AI agents to become full participants in the digital economy. SemanticPay builds a robust transaction infrastructure that allows AI agents to securely interact, access services, and engage in economic activity. By developing a specialized infrastructure, they will eliminate these constraints and unlock new opportunities for an AI-powered economy.
Key Features of SemanticPay Include:
- Access: SemanticPay’s Agentic API layer ensures that AI agents can access web services and data sources seamlessly, unlocking new opportunities for interaction and information retrieval.
- Identity: Traditional internet structures often categorize AI agents as bots, blocking their ability to perform legitimate tasks. Through Agent ID and “Know Your Agent” (KYA) protocols, SemanticPay establishes a secure, compliant framework for transactions, building trust and ensuring regulatory adherence.
- Payment: The platform will offer optimized payment rails, supporting fiat currencies, stablecoins, and cryptocurrencies for high-frequency, low-value transactions crucial to the AI agent economy.
- Empowerment: Value-added services such as data analytics, decision-making tools, and access to specialized AI models will enhance the capabilities of AI agents, driving efficiency and growth.
Rooted in the GCC, SemanticPay aims to scale globally, with its team currently having a presence in APAC and Europe. They are building the foundation for a new AI-powered economy that bridges the gap between web operators and AI agent builders – paving the way for a future where these intelligent agents play a vital role in our digital world, driving innovation and creating value for all stakeholders.
Financial
Hasnae Taleb and Jeff Ransdell to Drive Innovation in UAE with a $45 Million to Support UAE Startups

Jeff Ransdell, Managing Director and Founding Partner of Fuel Venture Capital, and Hasnae Taleb, Managing Partner of Mintiply Capital, are making waves in the UAE investment landscape by introducing a $300 million vintage fund. This ambitious initiative dedicates $45 million specifically to fuel the growth of startups within the GCC region. The fund is strategically structured to offer regional investors a rare opportunity to capture exponential returns by backing high-growth ventures before they reach public markets.
The collaboration between Mintiply Capital and Fuel Venture Capital takes the form of a Special Purpose Vehicle (SPV), leveraging both firms’ unmatched expertise in capital markets and venture investments. With decades of collective experience, Ransdell and Taleb are uniquely positioned to guide companies through the critical phases of growth, scaling, and eventual public listings. Their shared vision is built on the understanding that private market investments in pre-IPO companies have the potential to generate immediate returns of up to 200% from day one, presenting a transformative proposition for investors across the UAE and broader GCC region.
The vintage fund provides access to an elite portfolio of high-potential startups backed by Fuel Venture Capital. Notable names include:
• Betr – A disruptive sports betting platform co-founded by Jake Paul, integrating real-time engagement with microbetting.
• Curve – A fintech innovator providing a single card that aggregates all financial accounts into one seamless experience.
• CookUnity – A chef-to-consumer platform redefining meal delivery with curated, gourmet-quality meals.
• Novopayment – A fintech infrastructure company driving digital payments innovation across the Americas.
• Aexlab – A pioneer in virtual reality gaming and social engagement technologies.
These companies are not just building market-leading products; they are poised to reshape industries and create outsized investment returns when they enter the public markets.
Jeff Ransdell and Hasnae Taleb believe in creating pathways for local investors to participate in the most promising global opportunities. This vintage fund provides GCC-based investors exclusive pre-market access to disruptive businesses that would otherwise remain out of reach until a much later stage.

Jeff Ransdell, founder of Fuel Venture Capital, brings a remarkable career spanning decades in public markets. As a former Managing Director at Merrill Lynch, he led a team responsible for managing a staggering $130 billion in assets for some of the world’s most influential investors. His deep understanding of capital markets, asset management, and scaling high-growth companies provides him with a unique ability to identify and nurture disruptive startups poised for exponential success.

Hasnae Taleb shattered barriers as the youngest equity trader on Wall Street and the first Arab African woman to achieve such recognition in global capital markets. Known for her sharp analytical mind and fearless decision-making, Taleb earned the nickname “Shewolf of Nasdaq” for her unparalleled ability and navigate high-stakes trading scenarios with precision. Now, as Managing Partner of Mintiply Capital, she leverages her expertise in trading, equity markets, and entrepreneurship to build ecosystems that empower innovators and investors alike.
“Both Jeff and I understand what it takes to list companies and the immense value creation that occurs before a company goes public,” said Hasnae Taleb. “We are bringing this opportunity to investors in the region to give them access to exceptional returns and a strategic advantage over traditional investment avenues.”
Jeff Ransdell added, “The GCC market is evolving rapidly, and there’s a growing appetite for sophisticated investment vehicles. This fund delivers exactly that — it empowers investors to support transformative businesses while capturing the kind of returns typically reserved for institutional players.”
The introduction of this vintage fund and the strategic partnership between Mintiply Capital and Fuel Venture Capital reflect a shared commitment to enhancing the financial ecosystem in the UAE and KSA. By supporting visionary entrepreneurs and scaling innovative businesses, the duo aims to foster sustainable economic growth and establish the region as a hub for entrepreneurial excellence and venture capital success.
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