Saudi Arabia's General Authority for Competition opened a public consultation on Uber Technologies' acquisition of Delivery Hero, which includes HungerStation, wholly owned by Delivery Hero in Saudi Arabia. Uber's July 2026 offer of €41.50 per share values Delivery Hero at about €13 billion, and the deal is expected to close in H2 2027 subject to approvals. Feedback is open until Oct. 20.
The deal is set to close in the second half of 2027, once it gets all the necessary approvals. During the consultation period, a rival Saudi delivery app could make its case for limits on the combined group's market share.
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Payments players move into lending
SAMA approved raising the capital of GO Money, GO Telecom's wholly owned subsidiary, from SAR 20 million to SAR 138 million, with SAR 100 million in new cash from the parent, to support growth of its financing portfolio. The same day, Barq said it became the first digital wallet in the Kingdom to receive SAMA's preliminary approval to add financing to its activities.
Payments opened the door, but lending is where the real profits are. Now that SAMA allows wallet and telecom-backed companies to enter this space, bank digital teams need to decide whether to partner with these players or compete with them directly.
Three fifty-nine of five ninety
BlackRock's report puts Saudi Arabia at 359 of the 590 private-capital funds closed in the Middle East since 2015, or about 61%, against 143 in the UAE and 88 across other regional markets. Middle East sovereign wealth funds allocate 43.2% of assets to private capital against 35% for peers elsewhere, regional venture capital averaged $2.4 billion of deal value a year between 2021 and 2025 with a peak of $3.5 billion in 2022, and the GCC is entering an estimated $2.1 trillion investment cycle through 2030.
Holding 359 of 590 regional funds is not just a fundraising advantage; it is a gravitational force. Managers must now be in Riyadh to participate in the market.
Twenty-five thousand delegates
Riyadh hosts the 25th WPC Energy Congress from 11 to 15 October at the Riyadh Front Exhibition and Conference Center, the first time Saudi Arabia has held it, with more than 25,000 delegates expected alongside 100 energy ministers, 500 chief executives, 800 speakers and 1,000 companies across more than 50,000 square metres of exhibition space. The congress falls against projected global energy investment of $3.4 trillion in 2026, of which about $2.2 trillion is directed to clean energy, grids, storage and efficiency.
The primary value is access, not exhibition. Suppliers planning to attend should focus their week on engaging with the 500 chief executives rather than on their exhibition stand.
