The company, which already has presence in Saudi Arabia, UAE, Cairo and Alexandria, operates an application that specialises in car management and upkeep, said to be the first of its kind in Egypt.

Founded in 2016, the start-up will use the new cash influx to extend its services to all governorates across Egypt and aims to log 100,000 cars on its platform in one year, the company said in a statement.

FriendyM offers services to help car owners manage vehicle upkeep.

“We aim to reach all segments of society, especially women, because they are naturally less experienced in knowing what concerns the technical aspect of the car,” said Abdelrahman Elgamal, founder and CEO of FriendyM.

The application sends notifications to remind users of their car’s regular maintenance appointments and manages car expenses such as fuel bills, parking spaces and cleaning. Users will be notified how much the upkeep would cost and what needs to be covered in the maintenance.

It offers a chat support feature to connect users to mechanical engineers and specialists, to respond to queries, as well as emergency SOS services.

Source; Zawya

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A global climate crisis shifting the world away from oil, a growing population of young hopefuls desperate for opportunity, and the rising star of a king in waiting who’s ready to build a nation in his image. These factors have coalesced to create a singular mission to keep the kingdom thriving.

It’s called Vision 2030. By the end of the decade, Saudi Arabia aims to pull off the ambitious, three-pronged feat of creating an economy no longer dependent on oil, improving the lives of its nearly 40 million people, and keeping its place on the global stage.

Source: Business Insider

The post Vision 2030 is Saudi Arabia’s grand plan to future-proof its oil-based economy. Experts say it’s a huge risk. first appeared on Wall Street Collateral.

The data will likely ramp up calls for leaders to do more to revive growth, having laid out a series of stimulus measures in recent weeks focusing on consumers and the troubled property sector.

Sales of Chinese products to foreign markets sank 14.5 per cent year on year in July, a third consecutive drop, according to the customs authority.

The decline was bigger than expected and the heaviest since a 17.2 per cent plunge in January-February 2020, when the economy came to a standstill in the early weeks of the Covid-19 pandemic.

Apart from a brief rebound in March and April, exports have been in constant decline since October.

The threat of recession in the United States and Europe, combined with high inflation, has contributed to weakening international demand for Chinese products in recent months.

Source: The Strait Times

The post China reports biggest drop in exports since 2020 in blow to recovery first appeared on Wall Street Collateral.