Suez Canal Authority hopes to reach deal with Ever Given owner

Suez Canal Authority hopes to reach deal with Ever Given owner

RIYADH: The Suez Canal Authority is hopeful of reaching an agreement with the owner of the Ever Given cargo ship that became stuck in the key waterway last month, Al Arabiya reported. The Authority is keen progress negotiations with the ship's owner and insurance company, Chairman Osama Rabie said on Monday. He also dismissed rumors suggesting the some of the crew of the ship had been arrested. The Authority has no objection to crew leaving the vessel as long as there are enough sailors onboard to secure it, he added. The megaship became wedged in the Suez Canal on March 23, blocking traffic in either direction for almost a week and causing massive disruption to the global supply chain. DUBAI: A rush to fund digital startups in the region risks creating a valuation bubble, according to entrepreneur and Wamda CEO Fadi Ghandour. It comes a mid a flurry of major funding announcements from regional startups in recent weeks as Dubai, Abu Dhabi and Riyadh all compete to attract exciting new technology businesses. But the weight of capital chasing such investments, including from sovereign wealth funds, could lead to valuation bubbles in some cases, Wamda chairman and CEO Fadi Ghandour told