Happy Wednesday everyone!

Saudi Arabia's PIF just cleared a major hurdle in its $55 billion EA takeover, shareholders approved the deal Monday. The question gamers are asking: will private ownership mean better games or just different bosses? Dubai's charities can now accept crypto donations after IACAD greenlit the move. With 30% of UAE residents owning cryptocurrency and nearly 90% donating regularly, it's a smart play for modern philanthropy. And Lush's CEO told customers opposing his Gaza stance to stop shopping at his stores. Mark Constantine isn't backing down, he's doubling down on activism as brand identity.

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Markets

Saudi PIF Moves One Step Closer To Completing $55 Billion EA Buyout

What’s it About?

Electronic Arts shareholders approved Saudi Arabia's Public Investment Fund-led takeover on Monday, clearing a major hurdle in the $55 billion acquisition. The deal values EA at $210 per share, marking one of gaming's largest buyouts ever. The Redwood City publisher behind EA SPORTS FC, Battlefield, and Apex Legends will transition from public to private ownership after four decades on the stock market.

Why it Matters?

Going private removes quarterly earnings pressure that often forces rushed game releases. Saudi Arabia's PIF is aggressively diversifying beyond oil by building a gaming empire through esports, studios, and now legacy publishers. This acquisition signals the Kingdom's serious ambitions to dominate interactive entertainment globally while giving EA developers theoretical freedom to prioritize quality over Wall Street targets.

What’s Next?

The deal awaits final regulatory approvals before closing. If completed, EA will operate under new ownership for the first time in its history. The gaming community watches closely to see whether private ownership delivers better games or simply replaces investor pressure with different demands from Saudi backers.

Dubai Charities To Begin Accepting Cryptocurrency Donations

What’s it About?

Dubai's Islamic Affairs and Charitable Activities Department announced charities can now accept cryptocurrency donations. IACAD will host workshops explaining procedures and requirements for participating organizations. While Dubai Charity Association started accepting crypto in 2022, this directive expands the option to all registered charities across Dubai for the first time.

Why it Matters?

Roughly 30 percent of UAE residents own cryptocurrencies, making this a natural evolution for charitable giving. UAE residents rank among the world's most generous donors, with nearly 90 percent giving money in 2024. The move positions Dubai as a crypto-friendly hub while modernizing charitable infrastructure to match residents' digital payment preferences.

What’s Next?

IACAD workshops will roll out for Dubai's approximately 40 civil society organizations. The announcement didn't specify whether the UAE's Digital Dirham will be used or if charities can accept other cryptocurrencies. This could set a precedent for other Emirates and regional charitable sectors exploring blockchain-based donation systems.

Lush CEO Tells Customers Who Oppose Gaza Stance Not To Shop At His Stores

What’s it About?

Lush co-founder Mark Constantine told BBC that customers opposing his Gaza views "shouldn't come into my shop." The UK cosmetics brand shut all stores for a day in September supporting Gaza and launched Watermelon Soap in UAE and Bahrain to fund medical services for affected civilians.

Why it Matters?

Constantine's comments highlight growing corporate activism on geopolitical issues. Lush operates over 50 Middle East stores where the Gaza conflict resonates deeply. The CEO argues ethical positions should guide both business decisions and consumer choices, directly tying brand values to customer alignment on controversial topics.

What’s Next?

Lush continues selling Gaza solidarity products across regional markets. Constantine's explicit stance may polarize customers but reinforces brand identity around social activism. The approach tests whether consumers increasingly expect—or reject—brands taking firm positions on divisive political issues beyond traditional corporate social responsibility.

🦄 World of Startups

• MoneyHash and WalaOne Partner to Streamline Loyalty Integration in Saudi Arabia

• Noon Scores $500M Boost, Eyes IPO with Robot Delivery Expansion in MENA

• Abu Dhabi Partners with Primavera Capital to Boost Global Investment Hub Status

• Abu Dhabi Partners with SIEF to Boost Cross-Regional Investment Opportunities

• 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

👨‍💻From Smashi Business’ Desk

• Meet Fatma and Annei Ali, the British sisters behind Curls Fusion, a Dubai-based e-commerce platform.

• The RTA just launched a pilot program using DRONES to clean traffic signals across the city.

• Kalshi Founder Tarek Mansour Says Media Distrust Is Fueling the Rise of Prediction Markets

• Supercar Blondie Sells Emirates Hills Villa for AED 88M, Setting New Price Record

🔍In other news…

• Saudi Arabia’s US Treasury holdings rise to $134.4B

• Lebanese PM urges swift approval of law aimed at paying back depositors

• UAE Central Bank revokes Omda Exchange licence, imposes Dh10 million fine

• Tesla’s Full Self-Driving feature could launch in the UAE as early as January

🏦 Crypto Corner

• We have launched our Smashi Crypto newsletter. Subscribe to it here to get the bi-weekly updates from the world of digital assets.

• The weekly Smashi Crypto Show is also live. Expect it every Friday. Listen to it here.

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