👋 Good morning, Smashi Business Followers!

In today's news roundup, we’re diving into some intense debates in the tech world, a British media mogul making a strategic move to Dubai, and a Saudi acquisition shaking up the digital shopping space.

Let's get into it! ⬇️

1️⃣ Amjad Masad Criticizes Billionaire Bill Ackman Over “Keffiyeh” Remarks

📰 What is it about?

• Amjad Masad, founder of Replit, took to social media to call out Bill Ackman for comments regarding the traditional Arab headdress, the Keffiyeh. Masad accused the hedge fund manager of bigotry after Ackman reportedly suggested firing people for wearing it. Ackman has yet to respond.

💡 Why it matters?

• This clash highlights growing conversations around cultural representation, freedom of expression, and the tech world’s role in defending these values. Masad’s Jordanian-American background adds depth to this timely issue.

🔜 What’s next?

• As the debate continues online, more voices are joining the conversation, with Masad receiving a wave of support. It remains to be seen if Ackman will issue a public statement.

📈 Markets

2️⃣ From London to Dubai: Richard Desmond Joins Elite Investors with Golden Visa Move 🏙️

📰 What is it about?

• British media tycoon Richard Desmond has secured a Dubai golden visa and will split his time between the UK and the UAE. Frustrated by political and tax issues back home, Desmond is the latest in a growing list of high-profile individuals drawn to Dubai’s zero-income tax and investment-friendly environment.

💡 Why it matters?

• Desmond’s decision reflects Dubai’s growing appeal as a top destination for entrepreneurs seeking better tax regimes and a thriving lifestyle. His move underscores the city's rising stature as a global business hub.

🔜 What’s next?

• More business elites are likely to follow suit, and Dubai’s policies continue to draw attention from investors worldwide.

✨Quote of the day
“A manager is not a person who can do the work better than his men; he is a person who can get his men to do the work better than he can.” – Frederick W. Smith

3️⃣ Nana Acquires Rasseed in Saudi Digital Shopping Shake-Up 💳

📰 What is it about?

• Saudi-based digital shopping leader Nana has acquired gift card platform Rasseed, adding new features to its app. Users can now easily buy and recharge digital cards from a variety of brands.

💡 Why it matters?

• This acquisition strengthens Nana’s digital solutions and taps into the booming market for digital cards in Saudi Arabia, signaling rapid growth in the region’s e-commerce and fintech sectors.

🔜 What’s next?

• Nana’s CEO views this as a game-changer, while Rasseed’s team is excited about expanding innovative services for customers in the digital space.

In other news…

1. The UAE gets its first Major Licensed Global Crypto Exchange with AED Integration - OKX

2. UAE's Octa Raises $2.25M to Fix Cash Flow Crisis

3. Keeta, the international arm of China’s food delivery giant Meituan, has launched its operations in Riyadh

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