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- Uber-DH Deal to 'Redraw Future'; $7B from Hormuz; Gulf Billions On The Line as SpaceX Dips
Uber-DH Deal to 'Redraw Future'; $7B from Hormuz; Gulf Billions On The Line as SpaceX Dips
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Saturday, July 18, 2026
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Hungerstation CEO has commented on the Uber-Delivery Hero Deal, which is valued $14.8 billion, bringing regional brands including talabat and HungerStation under Uber’s expanding ecosystem. Meanwhile, a new report estimates Iran and Oman could generate nearly $7 billion annually through proposed transit fees in the Strait of Hormuz, raising fresh questions about energy security and global shipping costs. In space, Gulf-backed SpaceX's Starship launch was aborted just one second before liftoff after multiple engine failures, adding pressure on the company's ambitious launch schedule.
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HungerStation CEO Says Uber’s $14.8B Delivery Hero Deal Could Redefine Global Delivery Landscape
What Is It About
HungerStation CEO Ali Aldamanhori has welcomed Uber’s planned $14.8 billion acquisition of Delivery Hero, saying the deal could “redraw the future of mobility, delivery, and quick commerce” globally. Delivery Hero owns major regional platforms including HungerStation in Saudi Arabia and talabat across the GCC and Egypt. The transaction will bring Uber and Delivery Hero’s businesses together across 99 markets.
Why It Matters
The deal could reshape the global food delivery industry by combining Uber’s technology platform with Delivery Hero’s local brands and market presence. In the Gulf, it highlights the growing importance of quick commerce and digital delivery ecosystems as consumer demand for convenience continues to rise. The combined companies recorded $236 billion in gross bookings in 2025.
What’s Next
Uber’s acquisition is expected to close in the second half of 2027, pending regulatory and shareholder approvals. The company says the deal will expand its combined mobility and delivery services to 58 markets, while Delivery Hero’s local brands are expected to continue operating. For the Middle East, the focus will be on how the integration drives growth, innovation, and competition.
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Iran And Oman Could Earn Nearly $7 Billion A Year From Strait Of Hormuz Transit Fees
What Is It About
Iran and Oman could generate nearly $6.8 billion annually by introducing transit fees for oil tankers passing through the Strait of Hormuz, according to Oxford Economics. The estimate is based on a proposed $1-per-barrel levy on non-Iranian crude moving through the strategic waterway. While both countries have discussed a toll system to help restore regular shipping, no formal proposal or agreement has been announced.
Why It Matters
The Strait of Hormuz is one of the world's most important energy chokepoints, handling about 20% of global oil supplies before the conflict began. Any transit fee could raise shipping costs, influence global oil prices, and reshape trade routes. Industry leaders and international maritime officials have criticized the idea, warning that mandatory tolls could undermine the principle of freedom of navigation under international law.
What’s Next
The proposal remains under discussion, with Iran reportedly favoring mandatory fees while Oman prefers a voluntary system. Oxford Economics said a toll could provide short-term revenue but may encourage Gulf producers to expand pipelines and alternative export routes, reducing dependence on Hormuz over time. The future of the plan will largely depend on regional security, diplomatic negotiations, and whether shipping traffic returns to normal.
Gulf-backed SpaceX’s Starship Abort Rattles Investors As Stock Slides Below IPO Price
What Is It About
SpaceX's Starship Flight 13 was aborted just one second before liftoff at Starbase, Texas, on Thursday. Telemetry showed four of the rocket's 33 Raptor engines failed to ignite during the startup sequence, prompting the automatic abort system to shut down all remaining engines and hold the rocket safely on the pad. Elon Musk confirmed the incident on X, saying the team immediately began offloading propellant while engineers assess the cause of the failure.
Why It Matters
The abort comes at a precarious moment for SpaceX. Just one day earlier, its stock closed below its $135 IPO price for the first time since its record-breaking June debut. Shares slid further after the scrub, trading near $125–127. Gulf sovereign wealth funds, including Saudi Arabia's PIF, Qatar's QIA, and Abu Dhabi's MGX, hold billions in exposure through direct SpaceX stakes and converted X/xAI holdings — making this more than an engineering setback.
What’s Next
Musk said two Raptor engines will be removed and replaced before SpaceX attempts another launch, with the most probable timing early next week. Investors will be watching closely to see whether the company can execute a clean flight to steady confidence, especially as the stock hovers near multi-week lows and scrutiny around SpaceX's post-IPO performance continues to build heading into the company's next earnings report.
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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
