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  • Saudi Arabia to send first female astronaut to space in second quarter of 2023

    Saudi Arabia on Sunday announced that it will send its first female astronaut, Rayyanah Barnawi, and a male astronaut, Ali AlQarni, to the International Space Station (ISS) during the second quarter of 2023. Both astronauts will join the crew of the AX-2 space mission, which is scheduled to launch from the United States.

  • Turkey earthquake: Three relief aid flights from Saudi Arabia en-route to Adana

    Monday’s quake, followed hours later by a second one almost as powerful, toppled thousands of buildings including hospitals, schools and apartment blocks, injured tens of thousands, and left countless people homeless in Turkey and northern Syria. The Saudi Press Agency reported on Friday that the three aid flights were carrying over 104 tons of relief material including food, tents, blankets, rugs, shelter bags and medicine, in addition to rescue teams.

  • Flat6Labs announces first close of $20m Startup Seed Fund in Saudi Arabia

    It involved participation from Saudi Venture Capital Company, a subsidiary of the Riyadh-based Small and Medium Enterprises Bank, which is affiliated with the National Development Fund, and the Jada Fund of Funds that is wholly owned by the kingdom’s sovereign wealth fund, the Public Investment Fund, Flat6Labs said. The Startup Seed Fund enables start-ups to receive follow-on funding of up to 2.4 million riyals and helps them to obtain access to support and training programmes.

  • Flat6Labs announces first close of $20m Startup Seed Fund in Saudi Arabia

    Cairo-based venture capital company Flat6Labs announced the first close of the Startup Seed Fund in Saudi Arabia, which is aimed at supporting entrepreneurs in the kingdom. The 75 million riyal ($20 million) fund was created to invest in early stage start-ups operating in the technology and innovation sectors in Saudi Arabia. It involved participation from Saudi Venture Capital Company, a subsidiary of the Riyadh-based Small and Medium Enterprises Bank, which is affiliated with the National Development Fund, and the Jada Fund of Funds that is wholly owned by the kingdom’s sovereign wealth fund, the Public Investment Fund, Flat6Labs said.

  • France makes art inroads in Saudi Arabia with Centre Pompidou project allegedly on the horizon

    The Centre Pompidou in Paris will oversee a museum project in the AlUla region of Saudi Arabia, according to Le Monde newspaper. Specialists from the Paris-based Beaubourg gallery will advise on a new gallery called Perspective Galleries which has been designed by the Lebanese architect Lina Ghotmeh, adds Le Monde. At the time of writing, representatives from the Centre Pompidou had not responded to a request for comment.

  • Saudi Arabia Wealth Fund Returns to Debt Market With Three-Part Sale

    Saudi Arabia’s sovereign wealth fund raised $5.5 billion from a three-part green bond sale, the second debt offering by the Public Investment Fund within four months. The PIF secured more than $32 billion of orders for the bonds that have maturities of 7, 12 and 30 years, according to people familiar with the matter, who asked not to be identified. The deal priced with the notes to yield 115, 145 and 185 basis points over US Treasuries.

  • Saudi Arabia FDI inflows up 10.7% in third quarter 2022 -investment ministry

    Foreign direct investment (FDI) inflows into Saudi Arabia rose 10.7% in the third quarter of 2022 over the same period a year earlier, figures from the investment ministry showed. FDI inflows totalled 7.2 billion riyals ($1.9 billion) in the third quarter of 2022, according to the investment ministry's latest monthly bulletin published on Monday, versus 6.5 billion riyals in the third quarter of 2021.

  • Mountaintops, flower men and folk art: Inside Saudi’s Aseer province

    Saudi’s lesser-known Aseer region is a haven of hiking trails and hipster cafes. Book a hotel and a guide and explore Saudi’s tallest peaks - of which there are plenty. At around 3000 metres, Al Soudah is Saudi’s highest mountain, thriving with luscious greenery. The rewards for treading its winding paths are epic panoramas at every turn.

  • First-ever Islamic Arts Biennale held in Saudi Arabia’s Jeddah

    The exhibition (January 23-April 23), displays over 280 works of Islamic historical objects — including 239 from Saudi Arabia and 15 that have never been exhibited before — within an 80,000-square-meter space alongside 60 new commissioned works of contemporary art by 42 international artists and collectives, among which 18 are from Saudi Arabia.

  • Saudi Arabia Regional Headquarters Programme: Contracting with government entities

    By way of background, the Regional Headquarters (RHQ) Programme is an initiative jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City which aims to attract multinational companies to establish their regional headquarters in the KSA. The RHQ Programme forms part of the Vision 2030 initiative to enhance and diversify the KSA economy. In February 2021, the KSA government announced its intention to cease contracting with companies that do not have their RHQ situated in KSA.