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  • Tech VCs Resort to Party Crashing in Middle East During Downturn

    Besides putting money into in VC firms, the sovereign wealth funds also invest directly in startups and often co-invest with firms they back. ADIA’s private equity department, for example, made 40 direct investments in 2021, up from 25 in 2020, its annual report stated. That included 12 co-investments in early-stage startups with VC firms it supports.

  • Heavy fighting in Khartoum as power struggle rages

    Fierce fighting could be heard in central Khartoum on Thursday as the army tried to push back the paramilitary Rapid Support Forces (RSF) from areas around the presidential palace and army headquarters, with a lasting ceasefire appearing elusive. Each side appears to be battling for control of territory in the capital ahead of any possible negotiations, though the leaders of both factions have shown little public willingness to hold talks after more than two weeks of fighting.

  • Abu Dhabi tops Dubai as ‘smartest city’ in MENA region

    For the third consecutive year, Abu Dhabi ranked as the smartest city in the Middle East and North Africa (MENA) region for 2023, according to the IMD Smart City Index released by the International Institute for Management Development (IMD) in Switzerland in collaboration with the Singapore University of Technology and Design (SUTD).

  • What is happening in Sudan? Fighting in Khartoum explained

    A conflict in Sudan that erupted on April 15 has killed hundreds of people, driven more than 100,000 to flee across the borders and displaced hundreds of thousands inside the country where many already relied on international aid before fighting began.

  • Chart: The World’s Highest-Paid Athletes

    After leaving Manchester United for a two-and-a-half year contract with Saudi Arabia’s Al Nassr team, soccer star Cristiano Ronaldo has become the highest paid athlete in the world, according to Forbes’ latest ranking. The 38-year-old earned a total of $136 million over the past twelve months, having pulled in $46 million for his work on the pitch and $90 million off it, between May 1, 2022 and May 1, 2023.

  • Earthquake hits Oman’s Musandam region: Magnitude 4.6 tremors recorded

    Oman’s Sultan Qaboos University’s Earthquake Monitoring Centre has reported a moderate earthquake that occurred in Hormozgan, southern Iran. According to the report, the earthquake measured 4.6 on the Richter scale and had a depth of 10 KM. The epicenter was located at a distance of 194KM from the Wilayat of Khasab in the Governorate of Musandam.

  • Diriyah Company and Swiss partner Aman unveil two hotels in Saudi Arabia

    Diriyah Company, formerly known as Diriyah Gate Development Authority, has joined with Swiss hospitality brand Aman Group to unveil two projects in Saudi Arabia — Aman Wadi Safar and Janu Diriyah — as part of efforts to develop the area as the kingdom’s fifth giga-project. Located near Riyadh, Aman Wadi Safar will feature 78 rooms, 34 branded residences and amenities such as a spa and dining outlets, according to a statement from Diriyah Company on Wednesday. Janu Diriyah, a hotel from Aman’s sister brand Janu, will be located near the Unesco world heritage site of At-Turaif. It will comprise 120 rooms, a wellness centre and dining outlets, the statement added.

  • Iraq’s northern oil exports show few signs of restarting after stoppage

    Iraq's northern oil exports showed few concrete signs of an imminent restart after a month of standstill, as aspects of an agreement between Baghdad and the Kurdistan Regional Government (KRG) have yet to be resolved, according to four sources. Turkey halted Iraq's 450,000 barrels per day (bpd) of northern exports on March 25 after an arbitration ruling by the International Chamber of Commerce (ICC), which ordered Turkey to pay Baghdad damages of $1.5 billion for unauthorised exports by the KRG between 2014 and 2018. The pipeline had been exporting around 75,000 bpd of federal crude.

  • Exploring contemporary art scene in Saudi Arabia: Discover 10 top artists

    Saudi Arabia has a rich cultural heritage, and its contemporary art scene has been growing rapidly in recent years. The country is home to many talented artists who have been gaining recognition both domestically and internationally.

  • Iran, Saudi Arabia resume bilateral trade as part of rapprochement

    Minister of Industry, Trade and Mining, Reza Fatemi Amin, said in statements cited by state news agency, IRNA, that the entry of Iranian goods into Saudi Arabia was "on the agenda". He added that his Ministry has begun the process of exporting goods to Saudi Arabia in line with agreements reached between the two sides in recent months. Last month, Tehran and Riyadh agreed to revive relations after seven years, with China brokering the final round of marathon talks.