Saudi stc group launches Tali Ventures for emerging tech investments 

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RIYADH: Saudi Arabia’s money supply surged 10 percent in January to reach SR2.72 trillion ($726 billion), the central bank data showed. The growth was primarily driven by a substantial rise in banks’ term and savings accounts, which recorded a rise of 31 percent to reach SR864.32 billion. The overall figure, however, also includes currency outside … Read more

Jordan set to receive investments of up to $100m annually from the EBRD

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RIYADH: Office space rents across all grades in Riyadh rose in 2023 due to increased demand from national and international occupiers, a study showed. According to a report released by real estate consultancy services CBRE, average prime rents in Saudi Arabia’s capital city increased by 20.7 percent in the 12 months leading up to the … Read more

Saudi green projects set to see over $1.6bn investments by 2030, says minister 

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  RIYADH: Global trading system accessibility, intellectual property, and dispute settlement take center stage as the 13th World Trade Organization Ministerial Conference commenced in Abu Dhabi.    The four-day event, starting on Feb. 26, will address these issues within the WTO, featuring the participation of trade ministers and senior officials from around the world, the Saudi … Read more

Saudi Arabia seeing rising interest in credit ratings amid broader investments and economy diversification: Moody’s exec

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Startup of the Week – supply chain platform Omniful aims to boost Saudi Arabia’s e-commerce space CAIRO: E-commerce and supply chain operations platform Omniful is aiming to significantly boost its presence in the Saudi market after a successful $5.85 million seed funding round. In an interview with Arab News, CEO and co-founder of Omniful, Mostafa … Read more

Saudi financial market thrives with $106.6bn foreign investments: CMA chairman 

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RIYADH: Saudi Arabia’s non-oil exports experienced a 12 percent surge in December 2023 compared to the corresponding month of the previous year, official data showed.  According to the General Authority for Statistics, the total value of non-oil exports in December reached SR26.5 billion ($7.07 billion), marking an increase from SR23.6 billion in the same period … Read more

We want to deliver world-class events to Saudi Arabia and inspire local talent: SRJ Sports Investments CEO

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DUBAI: Saudi sporting history will be made on Feb. 24 when Riyadh hosts the country’s first mixed martial arts event, the “PFL Champions v Bellator Champions” at Kingdom Arena. Having bought the rights for Bellator at the end last year, the Professional Fighters League is set for strong expansion in the region over the coming … Read more

Investments in Saudi tourism to accelerate in 2024, says top expert

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RIYADH: Achieving global power security is everyone’s responsibility, according to Saudi Energy Minister Prince Abdulaziz bin Salman.  Speaking at the International Petroleum Technology Conference in Dahran on Feb. 12, the minister said that the Kingdom is continuously working toward ensuring market stability.  He added that Saudi Arabia has significant surplus oil production capabilities. “We are … Read more

Saudi Arabia, Egypt and the UAE led the way for regional investments

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CAIRO: The Middle East and North Africa region saw sizable startup activity from its top three regional ecosystems of Saudi Arabia, UAE, and Egypt as January came to end. The Kingdom led this weeks’ movement with two startups raising significant funding sums. Saudi Arabia’s peer-to-peer car rental platform Ejaro secured SR12.3 million ($3.27 million) in … Read more

Saudi Investment Ministry to maintain record of private sector’s foreign investments

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Saudi Arabia, Iraq collaborate to enhance construction research, elevate cement industry RIYADH: Saudi Arabia has launched a collaborative construction research initiative with Iraq to improve the country’s cement and building material industry. The two signed an agreement with the Saudi cement producer, Northern Region Cement Co., to advance the sector, responding to an increase in … Read more

Early stage regional startups reap investments

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CAIRO: Early stage startups reaped significant investments throughout the week in a demonstration of high investor confidence across multiple sectors in the Middle East and North Africa. UAE-based agritech startup Crysp Farms successfully raised $2.25 million in a pre-series A funding round led by Gate Capital which saw participation from other regional investors from the … Read more