Connect with us

Companies

EV producer Rivian helps IPO value range, focuses on $65 bln valuation

Published

on

Spread the love

Rivian Automotive, upheld by Amazon.com Inc (AMZN.O), on Friday fundamentally raised the normal deal cost of its portions, with the electric vehicle producer focusing on a valuation of as much as $65 billion in its first sale of stock.

It had before this week focused on a valuation of more than $53 billion at a cost of $62 per share. The organization presently hopes to sell 135 million offers in the scope of $72-$74 each to raise almost $10 billion on Nov. 9.

The expanded value band follows an effective financial backer roadshow this week, as Wall Street’s enormous IPO financial backers bet on Rivian to be the following huge player in an area overwhelmed by Tesla (TSLA.O).

The IPO could make Rivian one of the main three organizations that have raised more than $8 billion in 10 years after Alibaba (9988.HK) and Facebook (FB.O).

While the startup still can’t seem to sell any huge volume of its electric vans or trucks, a $65 billion valuation for Rivian could make it more important than Fiat producer Stellantis NV and carry it nearer to heritage automakers Ford (F.N) and General Motors (GM.N).

Rivian has been contributing intensely to increase creation, including for its upscale all-electric R1T pickup truck which was dispatched in September, demolishing rivalry from set up opponents like Tesla Inc, General Motors and Ford.

The organization had around 55,400 R1T and R1S preorders in the United States and Canada, as of Oct. 31.

Rivian said it had begun conveyances of the R1T and had recorded income for the three months finished September 30. Overal deficit for that period, nonetheless, is assessed to increment because of higher creation costs.

The EV market is blasting as buyers are greater climate cognizant and is viewed as an image of extravagance for some brands. Tesla delivered a record number of vehicles in its most recent quarter, proposing solid interest for electric vehicles.

Amazon has requested 100,000 of Rivian’s electric conveyance vans as a feature of the internet business goliath’s more extensive work to cut its carbon impression.

Rivian will, be that as it may, face rivalry from automakers in both the purchaser and business van markets.

Passage said it has in excess of 160,000 orders for its F-150 Lightning electric pickup truck and that an electric rendition of its Transit business van is “totally sold out.”

General Motors is equipping creation of electric conveyance vans, SUVs and pickup trucks.

Morgan Stanley, Goldman Sachs and J.P. Morgan are the lead financiers. Rivian will list on the Nasdaq under the image “RIVN”. The valuation incorporates shares that financiers could practice under the “greenshoe” choice.

Continue Reading
Advertisement

Business

Dubai launches new permit to help free zone firms do business on the mainland

Published

on

Spread the love

Businesses in Dubai’s free zones can now trade more easily on the mainland, thanks to a new Free Zone Mainland Operating Permit announced on Wednesday by Dubai’s Department of Economy and Tourism (DET).

The move is designed to simplify and make it more cost-effective for companies to operate across jurisdictions, providing them with access to domestic trading opportunities and government contracts, previously available only to mainland-licensed firms.

“This initiative cements Dubai’s position as a benchmark for regulatory innovation,” said Ahmad Khalifa AlQaizi AlFalasi, CEO of Dubai Business Registration and Licensing Corporation. “We’re enhancing ease of doing business and opening new avenues for growth, from domestic trading to government tenders.”

What the Permit Offers

  • Cross-border flexibility: Free zone companies can now engage in mainland activities without setting up a separate mainland entity.
  • Low-cost entry: The permit costs Dh5,000 for six months and is renewable for the same fee.
  • Talent mobility: Firms can use their existing staff for mainland operations without hiring additional employees.
  • Tax compliance: Revenue earned from mainland activities will be subject to the 9% corporate tax, with companies required to maintain separate financial records as per Federal Tax Authority (FTA) rules.

Who Can Apply

The first phase of the permit covers non-regulated sectors, such as:

  • Technology and IT services
  • Consultancy and design
  • Professional services
  • Trading

Plans are in place to extend the permit to regulated sectors in the future.

Eligible businesses must have a Dubai Unified Licence (DUL). They can apply online via the Invest in Dubai (IID) platform, ensuring a quick and hassle-free process for SMEs, startups, and larger enterprises.

Big Boost for Businesses

DET expects the initiative to increase cross-jurisdiction activity by 15–20% in its first year, benefiting over 10,000 active free zone firms.

By enabling free zone companies to integrate more closely with domestic supply chains, the permit opens doors to billions of dirhams worth of government tenders and contracts, creating new opportunities for growth, innovation, and job creation.

Continue Reading

Business

Sheikh Hamdan launches Dubai Founders HQ: One-stop hub for startups

Published

on

Spread the love

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, on Monday launched Dubai Founders HQ, a groundbreaking initiative that consolidates the emirate’s entire startup and SME ecosystem under one roof.

The first-of-its-kind “phygital” platform combines a state-of-the-art physical campus at One Central, Dubai World Trade Centre, with a comprehensive digital ecosystem connecting founders, investors, corporates, and enablers.

The mission: 30 unicorns by 2033

Dubai Founders HQ directly supports the ambitious Dubai Economic Agenda D33, which aims to:

  • Scale 30 unicorns (startups valued at $1 billion+) from Dubai
  • Enable 400 SMEs to grow by 2033
  • Position Dubai as a global innovation powerhouse

“In Dubai, entrepreneurship is considered a key engine of comprehensive and sustainable development,” Sheikh Hamdan said during his visit to the new campus. “Supporting entrepreneurs is an investment in human potential and in our society’s capacity to innovate and move confidently towards a more prosperous future.”

More than 25 powerhouse partners already on board

More than 25 leading organisations spanning venture capital, financial services, government entities, telecommunications, and innovation hubs have joined the platform, including globally renowned ecosystem builders Endeavor and Plug and Play.

This isn’t just another co-working space, it’s a fully integrated support system designed to take startups from ideation to market leadership.

What founders actually get

Physical campus perks:

  • State-of-the-art co-working spaces
  • Event facilities and meeting rooms
  • Open collaboration areas
  • Curated networking events and workshops
  • Local art showcasing Dubai’s creative spirit

Digital platform access:

  • Curated learning library
  • Consolidated repository of Dubai’s startup ecosystem
  • Data-driven insights and connections

End-to-end services:

  • Sector-specific acceleration programmes
  • Expert mentorship and advisory
  • Direct investor access
  • Business setup and licensing support
  • Global ecosystem connections
  • Tailored venture building partnerships

Hub-and-spoke model

Dubai Founders HQ acts as the “gravitational centre” of Dubai’s innovation landscape, seamlessly connecting with free zones, accelerators, and incubators across the emirate.

Think of it as the central nervous system coordinating Dubai’s entire entrepreneurial ecosystem – eliminating fragmentation and creating a streamlined entry point for founders at every growth stage.

Strategic vision

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, called the launch “a significant milestone in our journey to position Dubai as a global hub for digital entrepreneurship.”

Helal Saeed Almarri, Director General of Dubai Department of Economy and Tourism, emphasised the collaborative approach: “In bringing together government entities, corporates, and investors, we are creating a self-sustaining engine for innovation.”

Why it matters

For startups: Unparalleled access to expertise, funding, and support in one location

For investors: Direct pipeline to Dubai’s most disruptive businesses and talent

For corporates: Innovation partnerships and access to cutting-edge solutions

For Dubai: Accelerated path to becoming a global startup capital

Global gateway

Dubai Founders HQ also serves as an entry point for international startups and SMEs looking to access Middle Eastern markets, offering comprehensive guidance on business setup and ecosystem navigation.

Navigating bureaucracy

Dubai has consolidated years of entrepreneurial infrastructure development into one powerful platform. For founders, this means less time navigating bureaucracy and more time building world-class companies.

“Many startups have begun their journey in Dubai and grown to reach global markets,” Sheikh Hamdan noted. 

“Our aim is to make the city a platform where bold ideas can flourish and scale up.”

With 30 unicorns in its sights and an ecosystem now operating in unison, Dubai Founders HQ isn’t just supporting startups, it’s engineering them at scale.

Location: 25Hours Hotel, One Central, Dubai World Trade Centre
Partners: More than 25 venture capital firms, financial institutions, government entities, telcos, innovation hubs
Model: Physical campus + digital platform = “phygital” ecosystem

Continue Reading

Business

Dubai to go cashless: 90% of payments will be digitial by 2026

Published

on

Spread the love

Forget fumbling for change at the souq. Dubai is accelerating its ambitious plan to go almost entirely cashless, with a major awareness campaign now underway to push digital payments across the emirate.

The numbers that matter

By the end of 2026, Dubai aims for:

  • 90% of all transactions to go digital (government and private sector)
  • Dh8 billion annual boost to economic growth
  • 100% of stores to accept digital payments
  • Top-five ranking among the world’s cashless cities

What ‘cashless’ actually means

This isn’t about abandoning money, it’s about ditching notes and coins. Banking apps, credit cards, contactless payments, and AI-driven fintech solutions will become the norm for everything from grocery shopping to government services.

The campaign kicks off

Dubai Finance has launched a wide-reaching promotional push in collaboration with government entities, leading fintech companies, and private sector partners to make the transition seamless.

Recent developments include partnerships with GDRFA (General Directorate of Identity and Foreigners Affairs) and Network International to expand digital payment channels and bring innovative solutions to the public.

DIFC leads the business switch

Earlier in 2025, DIFC and Dubai Finance teamed up to run specialised workshops helping businesses make the digital leap. The collaboration includes AI-driven initiatives designed to benefit workers, tourists, and residents through smoother payment experiences.

Who benefits?

The strategy is designed with three key groups in mind:

  • Consumers: Faster, more convenient payments
  • Merchants: Streamlined transactions and reduced cash-handling costs
  • Payment providers: Expanded market and innovation opportunities

Bartering with bills at the gold souq or hunting for loose change in your car? That’s about to become Dubai nostalgia. The city’s race to go cashless is picking up speed, and 2026 is the finish line.

Continue Reading

Popular

© Copyright 2025 HEADLINE. All rights reserved

https://headline.ae/