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  • Saudi group starts work on mega Downtown Jeddah project

    The master developer said the contract includes the implementation of infrastructure and marine works in it, the removal of the existing 400 buildings and infrastructure in the first stage, and the re-routing of infrastructure services, which include electrical ground installations, sewage pipes and water supply, with a total length of 6.5 km. Central Jeddah Development Company pointed out that there will be reclamation and offshore drilling, then backfilling with drilling output, whose quantities are estimated at 4 million cu m, in addition to reclamation works, improving soil properties and preparing it for the expected construction works using the best engineering techniques, with a total area of 1.5 million flat m, in addition to constructing sidewalks.

  • Saudi Arabia urges Iraq’s political parties to peacefully address people’s demands

    Saudi Arabia urged all political parties in Iraq to resort to peaceful solutions to address the demands of the Iraqi people after clashes in Baghdad killed at least 23 people, the official Saudi Press Agency (SPA) reported on Tuesday.

  • Saudi Arabia’s startup investment poised to set new record

    Venture-backed startups in Saudi Arabia have been bolstered by a confluence of favorable trends in recent years—including low interest rates, increasing urbanization, demand for online groceries, pro-business reforms and a sharp rise in oil revenues. The momentum has catapulted VC deal value in the region, reaching more than $425 million so far this year, on pace to surpass record levels of 2021, according to PitchBook data.

  • Pakistan pleads for international help as parts of country ‘resemble a small ocean’

    "Visiting flood affected areas and meeting people. The magnitude of the calamity is bigger than estimated," Sharif said in a tweet on Saturday. "Times demand that we come together as one nation in support of our people facing this calamity. Let us rise above our differences and stand by our people who need us today." After meeting with ambassadors and diplomats in Islamabad on Friday, he called for help from the international community.

  • Women own 45% of startups in Saudi Arabia: Report

    According to a report issued by the General Authority for Small and Medium Enterprises (Monsha'at), the percentage of enterprises owned by women reached 45 percent, of the total owners of start-ups, until the first half of 2022, which is double the percentage achieved in 2017.

  • Women own 45% of startups in Saudi Arabia: Report

    In this context, the report stated that the number of small and medium-sized enterprises in the Kingdom reached 892,063 by the end of the first half of this year, an increase of 25.6 percent compared to the last quarter of 2021. The report stated that the food and beverage sector obtained the largest percentage of investment financing in the first half of this year.

  • Saudi Arabia’s startup investment poised to set new record

    As part of the Kingdom's Vision 2030 strategy, the country launched the Financial Sector Development Program to move toward a cashless society and enable financial institutions to support the private sector. The latest in the slew of freshly funded startups in the region is Tamara, a provider of a buy now, pay later platform. The company raised $100 million in a round led by Sanabil Investments, Arab News reported.

  • Saudi Arabia’s female workforce participation witnesses positive growth in Q1 2022: Report

    Over the last five years, the number of women with jobs has almost doubled in Saudi Arabia. When companies worldwide witnessed female participation in the workforce plummeting, Saudi Arabia’s female workforce participation soared over 33% in Q1 2022. The participation was reportedly around 20% in 2019.

  • Red Sea International Film Festival in Saudi Arabia partners with Venice initiative

    The Red Sea International Film Festival is collaborating with Final Cut, a programme by Venice Production Bridge that supports projects from Middle Eastern and African countries. The initiative, now in its 10th year at the Venice Film Festival, will help films in post-production from Iraq, Jordan, Lebanon, Palestine and Syria as well as African countries. The Red Sea International Film Festival, which ran for the first time in Saudi Arabia last year, is supporting two works in Final Cut — Inshallah A Boy, a dark comedy by Amjad Al Rasheed and The Cemetery of Cinema, a documentary by Thierno Souleymane Diallo.

  • Saudi starts construction of Jeddah Central development project

    The official Saudi Press Agency said JCDC “has started construction works” on the project and signed a new contract as part of the project involving marine and infrastructure works, demolition of nearly 400 old buildings in the first phase and re-direction of nearly 6.5 kilometres (km) of power cables in the area.