Venture Capital Investment in MENA Soars in July
Venture capital investments in the Middle East and North Africa (MENA) surged to $355 million in July, marking a 206 percent increase from June and a 260 percent rise year-over-year,…
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Riyadh Air Launches First Electric Bus, Advancing Sustainable Transport Initiatives
Riyadh Air has unveiled the first electric bus in its employee transportation fleet, aligning with Saudi Arabia's Vision 2030 objectives to reduce carbon emissions. This initiative, developed in collaboration with…
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Saudi Arabia and Djibouti Launch Strategic Maritime Initiative to Enhance Trade Links
Saudi Arabia and Djibouti have launched a significant maritime initiative to strengthen trade connections and boost economic ties between the two nations. At the core of this collaboration is the…
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Saudi Arabia Seeks Bidders for Seven New Mining Exploration Licenses
On August 7, Saudi Arabia’s Ministry of Industry and Mineral Resources announced a competitive bid for seven new mining exploration licenses, covering approximately 1,000 square kilometers. This initiative is aimed…
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Lucid Group procures $1.5bn in Funding from PIF
Lucid Group, a U.S. electric vehicle manufacturer, has secured $1.5 billion in new funding from its majority shareholder, Ayar Third Investment Co., an affiliate of Saudi Arabia’s Public Investment Fund…
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Saudi Arabia Introduces the Sixth Round of its ‘Sah’ Savings Program
Saudi Arabia has launched the sixth round of its subscription-based savings product, Sah, for August, offering a competitive return of 5.48 percent. The subscription period began on August 4 and…
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Saudi Real Estate Price Index Surged by 1.7% in Q2: GASTAT
Saudi Arabia’s real estate price index experienced a 1.7 percent increase in the second quarter of 2024 compared to the same period last year, largely driven by rising costs in…
Inflation in Qatar Continues to Remain Stable: Official Statistics
In June, Qatar's inflation rate remained stable, with the Consumer Price Index (CPI) reaching 107.52 points, a slight decline from 107.59 in May. This represents a 0.98% year-on-year increase from…
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Saudi Insurance Sector to Benefit from Buruj and Med Gulf Merger Agreement
The Saudi insurance sector is poised for consolidation as Buruj Cooperative Insurance Co. and the Mediterranean and Gulf Insurance and Reinsurance Co. (Med Gulf) have signed a non-binding memorandum of…
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Dyna.Ai Expands its Operations in Saudi Arabia’s Thriving Fintech Sector
Saudi Arabia's financial technology sector is witnessing increased interest from artificial intelligence startups, aiming to capitalize on the industry's rapid growth. Singapore-based AI startup Dyna.Ai, currently operating in seven countries,…
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