DUBAI : Middle Eastern online retailer Souq.com will make an announcement later on Tuesday about Amazon.com Inc’s bid to buy 100 percent of the company from its shareholders, two sources familiar with the matter told Reuters.
One of the sources, declining to be identified ahead of the announcement, said the statement would say that Souq.com’s shareholders had accepted the bid.
Souq.com declined to comment. Amazon officials could not immediately be reached for comment.
Dubai’s Emaar Malls, operator of some of the region’s most glitzy shopping malls, said on Monday it had made an $800 million offer for Souq.com. Sources said that bid was higher than Amazon’s offer.
Reuters reported last week that Amazon had agreed in principle to buy Souq.com, which was founded 12 years ago by Syrian-born entrepreneur Ronaldo Mouchawar.
Souq.com has raised $425 million since its founding in 2005, according to CrunchBase. It was reported to be valued at $1 billion at the time of its latest funding round last year, but sources said at the time the deal was worth less than that.
Amazon bid $580 million for Souq.com, a source familiar with the matter told Reuters on Monday. The Financial Times reported Amazon would pay between $650 and $750 million, quoting two sources familiar with the matter.
Emaar Malls’ bid had so far not been accepted by Souq.com shareholders, the Dubai-listed firm said on Monday.
Souq.com would have to break an exclusivity agreement with Amazon if it is to accept the Emaar Malls offer at this stage, a source said.
Dubai’s Souq.com to make announcement on Amazon.com bid — sources
Dubai’s Souq.com to make announcement on Amazon.com bid — sources
Work to save Historic Jeddah District buildings completed with SR50m donation from crown prince
RIYADH: Historic buildings in Jeddah on the verge of collapse have been saved by a Ministry of Culture project, funded by Crown Prince Mohammed bin Salman, Saudi Press Agency reported on Thursday.
The ministry, through its Historic Jeddah Program, announced the completion of the work on the “architecturally important” buildings
The project was completed with the support of SR50 million riyals at the private expense of the crown prince, SPA reported.
The Historic Jeddah District contains more than 600 buildings, including 36 historical mosques and five old market sites, as well as ancient squares and sites with important historical connotations, such as the Waterfront, which were main routes for Muslim pilgrims.
They are being rebuilt and redeveloped to tell visitors of the story of the Hajj since the dawn of Islam.
As per directives from the crown prince, the work was carried out by five specialist companies based in Saudi Arabia, under the supervision of technicians with experience in preserving historical buildings.
The project was carried out according to the unique design and distinctive urban structure of the Historic Jeddah District and required expert technicals as some buildings, which belong to established Jeddah families, contain archaeological features dating back 500 years.
What We Are Reading Today: ‘On Gaslighting’
Author: Kate Abramson
“Gaslighting” is suddenly in everyone’s vocabulary. It’s written about, talked about, tweeted about, even sung about (in “Gaslighting” by The Chicks).
It’s become shorthand for being manipulated by someone who insists that up is down, hot is cold, dark is light — someone who isn’t just lying about such things, but trying to drive you crazy.
The term has its origins in a 1944 film in which a husband does exactly that to his wife, his crazy-making efforts symbolized by the rise and fall of the gaslights in their home.
In this timely and provocative book, Kate Abramson examines gaslighting from a philosophical perspective, investigating it as a distinctive moral phenomenon.
UEFA will listen if Euro 2024 coaches want larger 26-player squads to lessen risks from injury
- Netherlands coach Ronald Koeman said this week the number of injuries in modern soccer meant it was absurd to return to the traditional squad size of 23
- “A workshop with the participating teams will be held on April 8 and on that occasion UEFA will listen to the views of the coaches,” the European soccer body said
NYON: European Championship organizer UEFA said on Thursday it will listen to national team coaches if they want bigger squads of 26 players instead of 23 for the tournament in Germany.
Netherlands coach Ronald Koeman said this week the number of injuries in modern soccer meant it was absurd to return to the traditional squad size of 23.
Because of the COVID-19 pandemic, increased 26-man squads were allowed by UEFA at Euro 2020, a delayed edition played in 2021, and at FIFA’s 2022 World Cup.
If players were isolated for health reasons, their replacements were already in camp and complying with the mandatory protocols.
UEFA decided last year on 23-player squads for Euro 2024.
It will host coaches and officials from the 24 teams in two weeks in Duesseldorf, Germany.
“A workshop with the participating teams will be held on April 8 and on that occasion UEFA will listen to the views of the coaches,” the European soccer body said. “Any idea in this respect will then be considered and assessed.”
Koeman wants his national federation to ask UEFA for an increase and noted this week “you have to deal more with injuries these days.”
“It is about the load carrying ability of the players,” Koeman said on Tuesday after his team’s 2-1 loss to Germany, suggesting host team coach Julian Nagelsmann agreed.
England coach Gareth Southgate said there had been a “little bit of talk among some of the coaches” to ask for 26.
Southgate said he did not plan to pressure UEFA for an increase, though acknowledged the extra numbers would lessen the risk of selecting preferred players who carried injuries.
“We’ve been able to give people time,” said Southgate, who is taking England to his fourth major tournament as the coach, “but with 23 that’s definitely more difficult.”
It is unclear how many of the 24 coaches want a larger squad that would include more players likely not getting game time on the field.
Euro 2024 is from June 14-July 14 in 10 German cities.
Ramadan Recipes: Falafel
Falafel is a popular dish in the Middle East that can be a side dish or the main course. It is also treated as fast food, made of a mixture of chickpeas, fresh and dried herbs, and spices.
While countries like Lebanon, Yemen, Palestine, and others claim falafel belongs to them, the dish is known to be of Egyptian origin.
Falafel was invented around 140 years ago, with French journalist Paul Balta and Syrian historian Farouk Mardam Bey showing that falafel first appeared in Egyptian literature after the British occupation in 1882.
Both men suggest that British officers, who had acquired a taste for Indian fried vegetable croquettes, asked for a similar dish using local ingredients, and Egyptians came up with falafel.
Falafel is a dish that vegans and vegetarians can enjoy as it is dairy-free and consists of legumes, herbs, and spices.
To make the dish you need two cups of dried chickpeas, one tsp of baking soda, one tsp of baking powder, one cup of parsley, half a cup of coriander, half a cup of mint, one tbsp of ground cumin, one tbsp of ground coriander, one tsp cayenne pepper (optional), two tbsp toasted sesame seeds, one onion, six garlic cloves, salt and pepper, flatbread, tahini, tomato, cucumber, parsley, pickle, and chili sauce.
Soak the dried chickpeas in water overnight, adding baking soda, mixing and leaving it at room temperature for 8 -12 hours. The next day, chop the onion, garlic, and herbs, add them to a food processor with the chickpeas, baking powder, sesame seeds, and the spices, and half blend until the mixture resembles coarse sand.
Shape the falafel into balls and fry them until they turn dark brown.
For the tahini salad, mix tahini with diced tomatoes and cucumbers, then add salt and lemon juice.
Place falafel inside the bread, add tahini salad on top, add pickles or chili sauce if desired, roll the bread, and serve.
Saudi Arabia to be guest of honor at Beijing Book Fair
BEIJING: The Saudi Literature, Publishing and Translation Commission and the China National Publications Import and Export Group Corporation have signed a contract to host Saudi Arabia as the guest of honor at the Beijing International Book Fair, to be held this year between June 19 and 23 in the Chinese capital.
The signing ceremony was attended by Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan, Literature, Publishing, and Translation Commission CEO Dr. Mohammed Hasan Alwan, and officials from the Chinese side.
Saudi participation in the fair is astep toward strengthening cultural exchange, boosting cooperation in literature, culture, and the arts, and promoting dialogue and boosting friendship and cooperation between the two countries.
Several other Saudi entities will participate in the fair to highlight the heritage, knowledge, and cultural diversity of the Kingdom through a diverse cultural program, including seminars, dialogue sessions, workshops, and artistic performances.
The Kingdom was the guest of honor at the New Delhi International Book Fair, held between Feb. 10 and 18; and will be the guest of honor, after Beijing, at the Seoul International Book Fair, from June 26 to 30, 2024.