CAIRO: A wave of venture capital funding has washed over the Middle East and North Africa region, prompting transformative change in the entrepreneurial landscape. Saudi Arabia’s government is leading the shift through a subsidiary of the SME Bank, part of the National Development Fund. The Kingdom’s Saudi Venture Capital has made significant strides in … Read more
RIYADH: Egypt is set to receive €7.4 billion ($8 billion) in aid from the EU to support its economy until 2027 amidst conflicts in Gaza and Sudan, according to reports. London-based newspaper the Financial Times claims the aid comes amid concerns that the situations could deepen the North African country’s financial challenges and increase migration pressures in Europe. Dimitris … Read more
RIYADH: Saudi Arabia’s dynamic business environment is continuously drawing attention from international companies, and now Estonian ride-hailing giant Bolt is looking to expand its operations in the Kingdom. Established in 2013, the company has become a prominent player in the global mobility industry, operating in 45 countries and 500 cities, with a current valuation of €7.4 … Read more
Cenomi Centers secures $1.39bn Shariah-compliant, sustainability-linked financing RIYADH: Saudi Arabia’s lifestyle and leisure sectors have been infused with SR5.25 billion ($1.39 billion) after mall operator Cenomi Centers secured financing for the “next generation” of retail experiences. The firm’s Shariah-compliant, sustainability-linked funding agreement with a syndicate of top-tier banks is set to deliver a new take on retail within the … Read more
RIYADH: Saudi Arabia has launched the subscription to its first savings product dedicated to individuals – Sah – with a yield reaching 5.64 percent on the first issuance. Registration for the Islamic-compliant bond, issued by the Ministry of Finance, started on Sunday, Feb. 4, at 10 a.m. and will end on Tuesday, Feb. 6, at … Read more
RIYADH: A meeting of the top ministers of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, has reportedly kept oil output policy unchanged. The officials met online on Thursday to discuss market fundamentals. The Joint Ministerial Monitoring Committee can call for a full OPEC+ meeting or make recommendations on policy. … Read more