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Saudi Startups Raise Over $250m So Far in 2021, Report Says
Dubai-based research platform Magnitt says Saudi Arabian startups raised more than a quarter of a billion dollars in venture capital (VC) funding during the first half of 2021, as the Kingdom looks to continue to develop entrepreneurship within its borders. Magnitt says that VC funding in MENA increased by 12% from FY’20, “marking a quarterly […]
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Oil Demand Soars in 2021, Expected to Grow Further as Market Reacts to Reported Saudi-UAE Agreement
Global demand for oil is soaring in 2021 as the world rebounds from the pandemic year, according to OPEC data and shared by Riyadh-based Jadwa Investment in an oil market update.
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Report: Algosaibi Family Conglomerate AHAB Near Debt Settlement after Nearly 12 Years
One of Saudi Arabia’s largest and longest debt sagas, ongoing for nearly 12 years, is set to finally reach a resolution. Saudi Arabia’s Algosaibi family’s conglomerate AHAB and its creditors have submitted a debt restructuring proposal to the Dammam commercial court this week after approval from a creditor committee, Reuters reports.
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Saudi Reaches Key 70% Vaccination Milestone, but New Cases Reach 10-Month High
Saudi Arabia’s Ministry of Health (MoH) on Wednesday said it has administered more than 16.8 million vaccine doses covering 70 percent of the total adult population in Saudi Arabia, a key milestone as the Kingdom progresses toward a full recovery from the pandemic, according to the Saudi Gazette.
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For Second Straight Year, Saudi Arabia Puts Safety First with Plans for Scaled Back Hajj in 2021
Saudi Arabia announced over the weekend that this year’s Hajj pilgrimage will be limited to no more than 60,000 people, all of them from within the kingdom, as authorities seek to build on progress combatting the ongoing coronavirus pandemic.
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Saudis Surge Investments into U.S. Stock Market in Q1 2021 as Overseas Inflows Reach Record Highs
The total amount invested by Saudi traders in the U.S. stock market through companies licensed by the Capital Market Authority (CMA) surged 162 percent, year-on-year, to SR77.4 billion ($20.64 billion) in the first quarter, Zawya reports, citing data compiled by financial website Argaam.
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Eid Al-Fitr to Start Thursday, Saudi Scholar Says; Saudis to Look for Crescent Moon
A Saudi scholar and advisor to the Royal Court predicts that Ramadan will end on Wednesday May 12th and the Eid Al-Fitr will begin on Thursday May 13th, according to a report in Gulf News. The precise ending of the 30 days-long Ramadan for the world’s 1.8 billion Muslims will depend on the sighting of the youngest […]
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Saudi Arabia’s Stock Market Revamps Corporate Structure Ahead of Highly-Anticipated IPO
Saudi Arabia’s stock exchange, the Tadawul, has announced a revamped corporate structure as it prepares for a much anticipated IPO, converting to a holding company called the Saudi Tadawul Group, according to reports. The change was announced by the Tadawul Group CEO Khalid al-Hussan said on Wednesday.
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‘Red Sea Rainforests’: Astronaut Captures Striking View of Saudi Arabia’s Northwest Coastline from Space Station
An astronaut captured a striking view of the northwest coastline of Saudi Arabia, showing the extent of a coral reef where Saudi Arabia hopes to boost sustainable tourism and where up to 260 reef species thrive, according to a post the NASA Earth Observatory blog.
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Saudi Arabia’s Stock Market Amends Rules, Allows All Qualified Investors to Sell Short
Saudi Arabia’s stock exchange, Tadawul, has widened access to short-selling and stock-lending, while tightening some other rules as of March 25, according to a report in Arab News.
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Really happy to see Sisi? 400% tourism growth from UAE, Saudi Arabia and Jordan to Egypt
Inbound tourism from the UAE, Saudi Arabia, and Jordan grew by 400% in the last three months according to the Tourism Activation Authority’s (TAA) head of International Tourism Ahmed Shoukry. The Ministry of Tourism is aiming for regional tourism to account for 20% of the total inbound tourism to Egypt, according to Shoukry.
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US fears Islamic State group attack on Jordan
While the prospect of the Islamic State prevailing over the well-equipped Jordanian military seems remote, Jordan is vulnerable to both terrorist attacks and internal strife. Its economy is weak, its unofficial unemployment rate is 30 percent, and 1.5 million Syrian refugees are consuming scarce resources and services, U.S. officials and experts say
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Kerry heads to Jordan, Saudi Arabia to rally against Islamic State
Kerry plans to meet with his counterparts in Jeddah and Amman, following a meeting of the Arab League on Sunday that endorsed action against the group, if not explicitly joining the cause. Both kingdoms have publicly allied themselves with the US in its fight against the terrorist organization, which has swept throughout eastern Syria and northern Iraq since June.
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Jordanian filmmaker wins award for best director at Venice film festival
Naji Abu Nowar, a Jordanian filmmaker, won the Orizzonti Award for Best Director at the 71st Venice Film Festival
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Jordanian lauds services at Two Holy Mosques | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.
Jordanian lauds services at Two Holy Mosques
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