- Smashi Business
- Posts
- UAE Seeks Dollar Safety Net; stc Group Bundles Netflix; UK Universities Face "Spying" Claims
UAE Seeks Dollar Safety Net; stc Group Bundles Netflix; UK Universities Face "Spying" Claims
Tuesday, April 21, 2026
Happy Tuesday everyone!
Regional stability and consumer convenience are taking center stage this week. While the UAE explores a financial backup plan with the US, Saudi Arabia's stc group is changing how families watch TV by bringing Netflix into its home fiber packages. Meanwhile, a major investigation has stirred controversy in the UK, revealing that elite universities spent hundreds of thousands of pounds on private intelligence to monitor student activism.
In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.
Markets
EGX30 | 51,813.43 | 1.07% |
DFMGI | 5,862.11 | 2.09% |
ADX | 9,841.72 | 0.80% |
Tadawul | 11,366.79 | 0.85% |
UAE Opens Currency Swap Talks with US Treasury
What Is It About?
The United Arab Emirates has started discussions with US officials, including Treasury Secretary Scott Bessent, to establish a currency swap line. This move, led by Central Bank Governor Khaled Mohamed Balama, is a precautionary measure to ensure the country has steady access to US dollars if regional conflict disrupts oil exports or triggers capital flight.
Why It Matters?
Even for a wealthy economy, dollar liquidity is the lifeblood of trade. While the UAE remains on solid footing, officials are wary that prolonged friction could hit dollar-denominated oil revenues. By setting this up now, they are protecting the dirham’s peg and signaling to global investors that the country has a solid plan for even the most difficult economic scenarios.
What’s Next?
Market watchers are waiting to see if the Federal Reserve and US Treasury approve the request. If finalized, it would act as a quiet insurance policy, likely calming local markets and ensuring that trade remains denominated in dollars rather than shifting toward other currencies like the yuan.
stc Group Brings Netflix to Saudi Households
What Is It About?
stc group is expanding its partnership with Netflix to include the streaming service in its Baity fiber internet plans. Currently in testing with a full rollout set for early summer, the move allows customers to manage their entertainment through a single bill. The package aims to resolve "subscription fatigue" by letting users combine multiple platforms, like Shahid and Netflix, into one hub.
Why It Matters?
Telcos are no longer just selling internet pipes; they are becoming the primary gatekeepers for digital life. For Saudi families, this simplifies the mess of multiple logins and payments. For the industry, it shows how providers are fighting to keep users loyal by adding more value to their monthly home broadband bills.
What’s Next?
Expect a surge in high-speed fiber sign-ups as the bundle goes live. The next step will likely be further discounts for "power users" who want to add gaming or music services to the same single-invoice system, making it harder for customers to switch to competitors.
British Universities Paid Intelligence Firm £440,000 to Monitor Students
Investigation Reveals Elite UK Schools Hired Ex-Military Intelligence for Campus Surveillance
A joint investigation by Al Jazeera and Liberty Investigates has revealed that 12 elite British universities—including Oxford, UCL, and Imperial College London—paid a private firm at least £440,000 to monitor student protesters. The firm, Horus Security Consultancy, is run by former military intelligence officials and reportedly used AI tools to harvest social media data and conduct "threat assessments" on pro-Palestine activists and academics.
Internal documents show that students at the London School of Economics (LSE) and Manchester Metropolitan had their private posts flagged in "encampment updates" sold to university security teams for roughly £900 a month. While the universities claim this activity is merely "horizon scanning" to maintain campus safety, the UN special rapporteur has raised serious legal concerns over the use of AI for such surveillance. With seven institutions refusing to release these intelligence briefings, citing commercial confidentiality, the revelation has sparked a backlash from staff unions who call the spending a "shameful" use of university funds.
👨💻From Smashi Business’ Desk
US billionaire Bill Ackman has launched a €55bn bid to take Universal Music Group private
Dubai-based Independent Food Company is hiring across roles including marketing, content and hospitality.
In a striking move that defies industry trends, Alsayegh Worldwide has made a bold commitment to its workforce. Leadership vows there will be no salary reductions and no job losses through 2026.
Saudi Research & Media Group (SRMG) is rewriting the rules of media in MENA.
Semafor is doubling down on the Gulf. The Semafor is expanding to a five-day publishing schedule, scaling hiring, and growing its events business as global attention on the region surges.
Telegram founder and UAE citizen Pavel Durov said Iran’s ban on the platform has led to widespread VPN usage rather than adoption of state-backed messaging apps.
🔍In other news…
🦄 World of Startups
Egypt’s Lucky Raises USD 23M Series B. Its Consumer Credit Model is Expanding Into North Africa
“We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC
Via Separations, US-based deeptech startup, raised $36M in funding from Aramco Ventures (Saudi), and other global investors.
