Bahrain’s Unipal secures $500K for Saudi expansion. 1 other story and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today

 

1. Bahrain’s Unipal secures $500K for Saudi expansion

 

Unipal, a startup originally from Bahrain, has announced securing a follow-on investment of US$500,000 from prominent investors Tenmou and Flat6labs, with participation from GTS and angel investors.

The funding round aims to expedite the expansion of Unipal’s operations into Saudi Arabia.

Established in 2020, Unipal offers an innovative online education application that provides university students with exclusive discounts and special offers on a wide range of products.

Ali Alalawi, the CEO and Co-founder of Unipal, expressed enthusiasm for the expansion into Riyadh and eventually throughout Saudi Arabia.

He stated, “This funding round is a testament to the potential for growth in Saudi. We’re excited to take on the challenge of expanding into Riyadh, and ultimately across the country and beyond. We’re confident we can create something truly special that will benefit businesses and students across the region.”

 

Tech Trivia: Node.js is a runtime environment for which programming language?

A. Python
B. Swift
C. JavaScript
D. Perl

Answer: see end of post

2. Egypt to Sell off state assets worth US$1.9bn

Egypt has signed contracts to sell stakes in state-owned assets amounting to a total value of $1.9 billion.

READ ALSO:Egypt’s e-commerce, Rabbit, launches AI-powered shopping assistant. 2 other stories and a trivia

This initiative, according to the government, is part of Egypt’s comprehensive economic reform plan under the $3 billion loan program with the International Monetary Fund (IMF).

Prime Minister Moustafa Madbouly stated that of the total amount, $1.65 billion will be paid in foreign currency.

The government’s target is to generate $2 billion from stake sales by the end of June, with recent months witnessing some delays in the process.

The Egyptian government has identified a list of 32 state-owned companies for stake sales, and it is currently about one-quarter through the process.

In addition, preparations for stake sales in other companies are underway, as stated by Prime Minister Madbouly.

By leveraging the sale of state assets, the government seeks to raise much-needed foreign currency and stimulate economic growth. These measures contribute to Egypt’s efforts to attract foreign investment, enhance economic stability, and achieve sustainable long-term development.

 

Trivia answer: JavaScript

Node.js is an open-source JavaScript runtime environment. It runs JavaScript code outside of a web browser, allowing web developers to use JavaScript as the back-end of their web applications. Node.js is also cross-platform and runs on Windows, Unix, Linux, and macOS.

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