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Saudi Start UpsSaudi-Based Alkhabeer Capital Launches New Unit To Fund Start-Ups
Saudi Arabia has been pushing to develop a startup culture in a bid to lower its burgeoning unemployment rate. In line with that, many major companies in the Kingdom have a venture capital arm that provides funding to SMEs in the country. Aramco Entrepreneurship Centre, established by state oil major Saudi Aramco in 2011, has funded up to 43 ventures across sectors such as manufacturing, education and information technology in the last three years.
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Saudi-EgyptSaudi-Egypt power link project to start in new year
A project to link the electricity grids of Egypt and Saudi Arabia will start next year at a cost of at least $1.5 billion, officials said on Monday.
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U.S. Public Opinion: Israel-PalestineWidening Democratic Party divisions on the Israeli-Palestinian issue
Among Democratic and independent respondents, 82 percent and 81 percent, respectively, think that the United States should either abstain from voting on the issue or vote in favor of endorsing the establishment of a Palestinian state, compared with 52 percent of Republicans who would favor these approaches. While 15 percent of Democrats and 16 percent of independents think the United States should vote against endorsing a Palestinian state (or even use its veto to prevent such an endorsement), nearly half of Republicans would favor this approach.
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PharmaceuticalsFrance’s Sanofi to start production in Saudi Arabia at KAEC
On Wednesday the company formally inaugurated its factory at King Abdullah Economic City, an industrial and residential development on the Red Sea. Meir said the plant would initially produce antibiotics, cardiovascular drugs, diabetic medication and medicine to protect against blood clots.
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Syrian Opposition ForcesSyrian rebel program months from starting
A program to train and equip 5,000 moderate Syrian rebels will begin in March and will not be completed until a year later in 2016, a senior State Department official told lawmakers on Wednesday. “The training we hope will start in March,” Brett McGurk, deputy special presidential envoy to the coalition against the Islamic State in Iraq and Syria (ISIS) said at a House Foreign Affairs Committee hearing.
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Start-Up InvestmentSaudi Arabia builds start-up culture with state oil money
Saudi Aramco founded its Aramco Entrepreneurship Center (AEC) in 2011. Its managing director Sami Khursani told Reuters: "We have Aramco’s support to invest more and more. Money here is not an issue - we are looking for quality deals that are entrepreneurially promising."
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U.S. Secretary of DefenseAshton Carter, the Wonk Who Would Lead the Pentagon
Obama is widely believed to tap an ex-physicist who cuts military waste like a laser to become the next secretary of defense. Call it the revenge of the wonk. After being passed over for Defense Secretary last year while serving as the Pentagon’s No. 2, Ashton Carter, a widely admired manager noted for his knack for wrangling budgets and weapons contracts, left government. It seemed as if he’d never serve in the top slot.
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FinanceMiddle East Stock: Egypt, Saudi slide; funds start buying in UAE, Qatar
Stock markets in Saudi Arabia and Egypt fell in early trade on Tuesday while funds tracking MSCI's emerging markets index started buying several stocks in the United Arab Emirates and Qatar ahead of scheduled adjustments to the benchmark.
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China and DubaiChina to become Dubai’s largest trading partner this year as Chinese comprise 10% of its population
The 200,000 Chinese now resident in Dubai comprise around 10 per cent of its population. This is a phenomenal rise from very low numbers since the relaxing of visa requirements in the wake of the global financial crisis in 2009. There are some 4,200 Chinese companies established in the city and Chinese guests make 25 per cent of bookings for the iconic Burj Al Arab Hotel.
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Countering Extremism: Social MediaState Department trolls Islamic State militants on Twitter
The Twitter account “State of Islam” using the handle @Dawla_accountt tweeted to its 1,226 followers Monday night: “#IslamicState is the SOLE SAVIOUR of millions of Sunni muslims against Iraqi-Syria Army butchers,” with an attachment to three propaganda photos claiming to show brutality against Sunnis. About 16 hours later, a team at the State Department responded directly to the tweet.
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