Wallenberg family fortune feels the sting of Brexit and Trump

Stockholm. The holding company that manages about $37 billion in assets for Sweden’s Wallenberg family says political risk stemming from trade wars and Brexit could have serious repercussions for a number of its investments. Johan Forssell, the chief executive officer of Investor AB, says some of the companies it owns are building up inventory in […]

Uber to introduce new lightweight app for Middle East

Dubai: Uber will soon launch its latest product, Uber Lite, throughout the Middle East, as the ride-hailing company intensifies its drive into the region ahead of its landmark initial public offering (IPO) later this year. Facing stiff competition from local rival Careem, Uber is investing heavily in its Middle East and North African operations, the […]