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- Prince Al-Waleed Takes Al-Hilal, BYD Eyes UAE Driverless Cars, LuLu Emerges as Remittance Powerhouse
Prince Al-Waleed Takes Al-Hilal, BYD Eyes UAE Driverless Cars, LuLu Emerges as Remittance Powerhouse
Monday, December 15, 2025
Happy Monday everyone!
This week in business, big moves are reshaping the Middle East’s landscape. From Prince Al-Waleed taking full control of Al-Hilal to China’s BYD eyeing driverless cars in the UAE, and LuLu Financial Holdings solidifying its global remittance presence, the region is buzzing with bold investments, cutting-edge tech, and game-changing financial strategies. Dive in as we break down the headlines, why they matter, and what’s next on the horizon.
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
EGX 30 | 42,065.20 | 0.07% |
DFMGI | 6,097.47 | Closed |
ADX | 9,988.71 | Closed |
Tadawul | 10,588.83 | 1.19% |
Prince Al-Waleed Takes Full Control of Al-Hilal
What’s it About?
Kingdom Holding, owned by Prince Al-Waleed bin Talal, is set to assume full ownership of Al-Hilal Saudi Club, formalizing the billionaire’s long-standing involvement and $400 million-plus contributions over the years.
Why it Matters?
The move strengthens private investment in Saudi football amid potential PIF divestments of other major clubs, signaling growing commercialization and global ambitions in the Kingdom’s sports sector.
What’s Next?
Al-Hilal may leverage Kingdom Holding’s backing for high-profile player acquisitions, global partnerships, and brand expansion. Observers will watch if similar private ownership trends emerge across the Saudi league.
BYD Explores Driverless Cars and R&D in UAE
What’s it About?
China’s BYD is negotiating with UAE authorities to deploy autonomous vehicles and establish a research and development center.
Why it Matters?
The initiative could accelerate smart mobility adoption and reshape transportation safety standards, positioning the UAE as a hub for advanced EV technology.
What’s Next?
BYD awaits regulatory approvals. Analysts predict pilot programs, fleet deployments, and potential partnerships with local transport operators over the next 12–18 months.
LuLu Currency Exchange Hits $22B Remittance Mark
What’s it About?
UAE-based LuLu Financial Holdings has moved $19.7 billion in remittances in 2024 and is on track for $22 billion in 2025, becoming a major global player.
Why it Matters?
Responsible for ~2% of global remittance flows, LuLu highlights the Gulf’s strategic role in cross-border money transfers and the growing business potential beyond worker remittances.
What’s Next?
The firm aims to expand corporate transaction services, targeting double-digit global market share by 2030, while competing with regional and international rivals.
🦄 World of Startups
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SPARK Expands Global Reach with Russia–UAE Innovation Pact
Fawry Launches Holding Company to Power Expansion in Egypt’s Fintech Sector
HSBC and Presight Forge AI Partnership to Revolutionise Banking in UAE
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