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- Trump Cancels Hormuz Shipping Fee; Revolut Wins Dubai Crypto Nod; Uber Eyes $13.7B Delivery Hero Takeover
Trump Cancels Hormuz Shipping Fee; Revolut Wins Dubai Crypto Nod; Uber Eyes $13.7B Delivery Hero Takeover
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Thursday, July 16, 2026
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Global trade policies and consumer tech consolidation are shifting as Washington pivots its regional approach and companies expand their footprints. US President Donald Trump dropped a proposed 20% Strait of Hormuz cargo transit fee after Gulf nations pledged over $2 trillion in long-term US investments. In digital finance, London-based fintech Revolut, led locally by Joseph Khair, secured regulatory approval from Dubai's VARA to offer cryptocurrency services in the UAE. Meanwhile, US ride-hailing giant Uber is in advanced talks to acquire Berlin-based food-delivery firm Delivery Hero for approximately €12 billion ($13.7 billion).
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United States Replaces Planned Maritime Transit Fee With Long-Term Gulf Investment Programs
What Is It About
US President Donald Trump withdrew his administration's plan to impose a 20% transit fee on commercial shipping passing through the Strait of Hormuz. The policy shift followed direct discussions with Gulf leaders, who urged Washington to swap the cargo tax for substantial capital investment programs within the United States. Gulf states have already outlined over $2 trillion in long-term US funding frameworks to secure the trade policy change.
Trillion Dollar Pledges: The UAE has committed to a $1.4 trillion investment roadmap, while Qatar has pledged $1.2 trillion in long-term funding.
Defense Machinery Integration: Saudi Arabia's contribution includes a $600 billion economic package featuring a $142 billion military hardware program.
Why It Matters
Dropping the shipping tax prevents a highly controversial tariff that would have increased global freight rates and fueled international trade tensions. Shifting the policy toward direct domestic capital investments keeps US industrial sectors funded while solidifying the security partnership between Washington and Gulf capitals. This compromise ensures that the costs of maintaining naval security in the Gulf are shared through private capital commitments rather than through direct taxes on global logistics operations.
Averting Supply Cost Hikes: Removing the proposed 20% tariff prevents immediate retail price inflation for energy and consumer commodities worldwide.
Anchoring Corporate Investments: The massive inflow of Gulf capital provides long-term liquidity directly to US manufacturing, aviation, and infrastructure markets.
What’s Next
Treasury officials will draft the formal trade agreements to monitor the timing of the incoming investment flows. Maritime shipping companies will maintain standard cargo routes through the Gulf without preparing for complex tariff collection procedures.
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Revolut Expands Middle East Services With Virtual Asset Approval from Dubai Regulator
What Is It About
Financial technology firm Revolut has secured in-principle approval from Dubai’s Virtual Assets Regulatory Authority to offer digital asset services in the UAE. The regulatory clearance allows the London-headquartered company to introduce brokerage, management, and exchange capabilities to its retail users. Under the leadership of regional head Joseph Khair, the firm plans to roll out these services through its main application and its specialized trading platform, Revolut X.
Broad Service Capabilities: The regulatory approval covers direct trading, custody solutions, and management of virtual assets for verified local users.
Establishing Local Licences: The firm previously obtained retail payment and digital stored-value permits from the Central Bank of the UAE in June.
Serving Massive Audiences: The fintech group aims to introduce its digital asset ecosystem to a portion of its 75 million global clients.
Why It Matters
Securing the Dubai license positions the firm to capture a significant share of the rapidly growing Middle Eastern digital asset market. Dubai’s dedicated regulatory framework provides a clear, compliant structure that allows global fintech companies to operate safely without facing the regulatory uncertainties common in Western markets. This expansion enables the company to build a complete financial application that combines traditional money transfers with digital asset trading for regional consumers.
Building a Unified Wallet: Integrating virtual assets with standard retail banking tools helps the company capture daily transaction volumes from traditional banks.
Sustaining Regulatory Trust: Operating under a dedicated state regulator minimizes compliance risks for retail users holding digital tokens.
What’s Next
Technical developers will integrate the local currency payment systems with the brand's virtual asset trading backend. Compliance managers will establish local verification processes to onboard the first group of UAE customers onto the platform.
Uber Enters Advanced Negotiations to Buy Delivery Hero in Massive International Expansion
What Is It About
US transportation giant Uber Technologies is in advanced discussions to acquire German food-delivery company Delivery Hero for around €40 per share. If finalized, the transaction would value the Berlin-based delivery specialist at over €12 billion ($13.7 billion). Uber already holds a substantial 36.8% stake in the company through direct share ownership and derivative financial instruments, and is looking to acquire full ownership of the remaining shares.
Surging Public Valuations: Shares of the delivery group climbed as much as 6.8% on the Frankfurt exchange following news of the negotiations.
Why It Matters
Acquiring the German firm would immediately position the ride-hailing company to challenge its main rivals in major international delivery markets outside the United States. Combining both companies' delivery networks reduces operating overheads and increases dispatch efficiency across shared metropolitan regions. This consolidation shows that major tech firms are actively buying up established international operators to maintain profit margins as customer acquisition costs rise.
What’s Next
Corporate boards will continue negotiating the final purchase price before drafting the definitive acquisition agreement. European and global antitrust authorities will review the transaction to determine if the combined business creates unfair market concentration.
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Smashi Business Exclusive: Al Haboob Racing Founders On Turning Camel Racing Into A Global Franchise Model
Ahmed Al Haboob and Safwan Modir, founders of Al Haboob Racing, spoke on Smashi Business about building the world’s first professional camel racing team in Saudi Arabia. They explained how they are transforming a traditional, individual sport into a structured, franchise-style model inspired by Formula 1, with teams, sponsorships and long-term commercial value.
The founders discussed leaving corporate careers during the pandemic to pursue entrepreneurship in a “virgin” sports market, despite high operational risks tied to livestock performance. They also highlighted media ventures like their Netflix series Camel Quest, partnerships including Paul Pogba, and their vision to modernize the sport using data and technology.
👨💻From Smashi Business’ Desk
Dreamers: Meet Qatar’s Nasser Al-Khelaïfi, President and CEO of French Giants Paris Saint-Germain.
Dreamers: Meet Moutaz and Ramez Al Khayyat, Qatari Syrian billionaire brothers built one of the Middle East biggest private business empires after relocating to Qatar during the Syrian civil war.
Oil prices erased most of their early gains after the US and Iran agreed to pause attacks and resume talks over the Strait of Hormuz.
Tabby has apologised after mistakenly telling UAE customers they had won an Emirates flight voucher before later admitting the email "was sent in error."
Ben & Jerry Israel has launched what it calls its “most Israeli flavor ever.”
🔍In other news…
Hormuz Tensions Put Commodity Supplies at Risk Far Beyond Oil
US terror delisting opens Syria to Gulf investors
Emerging Assets Steady as Middle East Tensions Spur Caution
Neom giga-project rewrites pitch for ‘The Line’
Pakistan Seeks More LNG as Hostilities Constrain Qatar Supply
DP World in talks to build new UAE port to bypass Hormuz
🦄 World of Startups
Rentify Raises USD 2 Million Seed Round to Launch Earn AI
CNTXT AI Closes $60M Series A to Deploy Sovereign AI Globally
Blnk Raises $37 Million to Expand Consumer Finance Services in Egypt
Saudi-based Pickappo Closes SAR 2 Million Pre-Seed Funding Round
Three Dubai entrepreneurs have raised AED 10 million for DRBY, a startup seeking to modernise education payments across the UAE through a unified digital platform.
Dubai-based Algebra AI nets $7 million funding to serve mid-market
Moroccan Proptech Startup Agenz Raises $5M to Build Property Data Infrastructure and Transaction Tools Tailored for Local Market
Calo, Bahrain-based meal subscription platform, expanded operations and full suite of services to Oman
