Happy Sunday everyone!

Welcome to this week’s Business Pulse, From billion-dollar IPOs to timeless elegance and gourmet expansion, the business world is buzzing. 🚀 Noon gears up for a potential $10B listing while betting on autonomous delivery and regional dominance. Mohamed Alabbar pays a heartfelt tribute to the late fashion legend Giorgio Armani, celebrating a partnership that redefined global luxury. And Arada teams up with Tashas Group in a AED100M venture to bring upscale dining experiences across the GCC.

But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.

Markets

Noon Eyes $10B IPO with Autonomous Delivery & Regional Growth

🔹 What Is It About

Saudi-backed Noon, the Middle East’s answer to Amazon, is preparing for a potential IPO within two years, with plans for a dual listing in Saudi Arabia and the UAE. Valued at nearly $10 billion, Noon operates across Saudi Arabia, the UAE, and Egypt, employing 40,000 drivers. The company is pushing into autonomous delivery to cut costs and is exploring expansion into India through mergers and acquisitions.

🔹 Why It Matters

Noon has become a dominant ecommerce player in the region, competing with global giants like Amazon and fast-rising challengers such as Shein, Ikea, and Meituan’s Keeta. Its move toward autonomous vehicles could reshape logistics efficiency, while its IPO would mark a milestone for Middle Eastern tech growth stories.

🔹 What’s Next

The IPO could take place within 24 months, strengthening Noon’s financial base for expansion. By 2027, the company aims to reduce its human delivery workforce by 50% through automation. Meanwhile, heavy investment in groceries is growing its UAE footprint, even if profitability remains pressured. (Amazon’s 2017 $580M acquisition of Souq.com still looms as a reminder of the region’s competitive ecommerce battleground.)

Mohamed Alabbar Pays Tribute to Late Fashion Icon Giorgio Armani

🔹 What Is It About

Emaar founder Mohamed Alabbar honored Italian designer Giorgio Armani, who passed away at 91. Armani was celebrated as the creative force behind his namesake brand, working until his final days.

🔹 Why It Matters

Beyond fashion, Armani shaped luxury hospitality through his partnership with Alabbar, creating Armani Hotels in Dubai and Milan. Their collaboration symbolized a fusion of real estate and haute couture, redefining elegance on a global stage.

🔹 What’s Next

Armani’s passing leaves a legacy that continues through his fashion empire and the hospitality ventures he co-founded. Alabbar’s tribute ensures that Armani’s timeless vision of elegance remains part of Dubai’s cultural and lifestyle identity.

Arada & Tashas Group Partner in AED100M Dining Expansion

🔹 What Is It About

Arada, a leading UAE developer, has partnered with Natasha Sideris’ Tashas Group in a AED100 million joint venture to expand luxury dining across the GCC. The focus will be on the well-loved tashas café brand and the upcoming Café Sofi.

🔹 Why It Matters

This partnership blends real estate expertise with hospitality excellence, bringing new lifestyle destinations to the region. It underlines the UAE’s growing role as a hub for premium dining and community-focused experiences.

🔹 What’s Next

At least 10 outlets are planned over the next two years, with the first, tashas Aljada in Sharjah, set to open in December 2025. Other planned locations include Dubai, Ras Al Khaimah, and Al Ain.

👨‍💻From Smashi Business’ Desk

• Blimp Over Dubai Highways Promotes Rove Hotels’ New ‘HQ’ with Irth Group.

• Khaldoon Al Mubarak’s Rise as the Force Behind Mubadala’s $330B Empire and Man City’s Football Glory.

• Mohamed Alabbar Pays Tribute to Giorgio Armani: A Visionary, A Friend, and a Legacy of Timeless Elegance.

• Sheikha Al-Mayassa Champions Mira Nair’s Work, Backing Women-Led Creativity in Qatar for Over a Decade.

• Qatar’s $524B Wealth Fund Supercharges AI Push with Anthropic and 25 More Tech Bets.

🔍In other news…

• Saudi Arabia and UK sign business deals worth $5bn

• Musk's Texas-sized $1 trillion payday enabled by state's new law

• Turkey gets $200m loan to support energy transition

• Kuwaiti regulator grants licence to BlackRock Advisors

• Caution is the word for Turkish markets.

• UAE continues humanitarian mission in Afghanistan.

• Bahrain's Alba signs agreement to explore alumina refinery in Egypt.

• Dubai Sotheby’s closes Dhs161m Palm Jumeirah villa sale, sets new pricing record

🏦 Crypto Corner

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accept AE Coin.

We are launching a Smashi Crypto newsletter in September 2025! Subscribe to it here to get the weekly updates from the world of digital assets.

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