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  • A stirring photography show captures the Middle East through a female lens

    The 10 Arab and Iranian photographers featured in “Louder Than Hearts” at the Middle East Institute’s gallery are not only all women, but their subjects are almost entirely female as well. This emphasis feels fitting for the first exhibition curated by Rania Matar, a photographer known for her nuanced, intimate portraits of women and girls in the Middle East and the United States.

  • Riyad Capital expects revived Saudi economy in 2024-2025

    The Saudi economy is likely to witness a recovery in 2024 and 2025, with continued strong growth in the non-oil sector, Riyad Capital expected in the Q2 2024 Saudi Economy Chartbook report.   The recovery will be driven by a growth-oriented fiscal policy and a focus on increasing investment expenditure to stimulate growth in the coming years.   According to the report, the non-oil sector is seen to grow by 4.8% in 2024 and 5.2% in 2025.

  • What a Turkish drone in the Raisi crash crisis reveals about Iran’s UAV capabilities

    Hours after the helicopter carrying Iranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian went down near the border of Azerbaijan Sunday, Iran reached out to its regional neighbor Turkey for assistance in finding the crash site through dense fog. Turkey dispatched one of its thermal- and night-vision capable, domestically produced AKINCI unmanned aerial vehicles, and, according to Turkish officials, they discovered the downed chopper. Turkish media released video of what was supposedly the “heat source” identifying the crash.

  • GCC debt capital market grows 7 percent to $940 billion in Q1 2024: Fitch

    The Gulf Cooperation Council’s (GCC) debt capital market (DCM) saw a 7 percent increase to $940 billion by the end of Q1 2024, reported Fitch Ratings in its latest statement. The company forecasts the market to maintain growth this year and the next as it steadily approaches $1 trillion. However, it expects growth to be slower in the quarters following Q1.

  • Riyad Capital launches 1957 Ventures fund to drive Saudi fintech innovation

    Nadir Al-Koraya, CEO of Riyad Bank, stated, "The launch of the 1957 Ventures fund demonstrates Riyad Bank's unwavering commitment to driving fintech innovation and digital transformation; this fund builds upon our track record of supporting cutting-edge initiatives in this pivotal sector. By empowering startups and entrepreneurs, we fuel Saudi Arabia's economic growth and diversification, aligning with the bold ambitions of Vision 2030. While proud of our past impact, we recognise the vast potential still ahead and are dedicated to fostering sustainable growth."

  • The A.I. Kingdom Rises: Inside Saudi Arabia’s Ambitious Journey to Reshape the Global Tech Landscape

    Mohammed Bin Salman Nonprofit City is a testament to Saudi Arabia's commitment to diversifying its economy and becoming a global leader in artificial intelligence and innovation. By investing in cutting-edge facilities, fostering partnerships, and empowering the youth, the city is poised to play a significant role in reshaping the global tech landscape in line with the kingdom's Vision 2030 blueprint.

  • How the authoritarian Middle East became the capital of Silicon Valley

    Washington is steering some of this shift, using the industry to push the region away from China’s orbit and focusing particularly on the UAE, a key U.S. security partner. The White House hosted executives from firms including Microsoft, Google and OpenAI last June for a meet-and-greet with Tahnoun bin Zayed al Nahyan, UAE’s national security adviser.

  • Saudi Arabia’s Abyan Capital closes $18m Series A round, led by STV

    Abyan Capital, a pioneering robo-advisory firm in Saudi Arabia, has closed an impressive $18m Series A funding round, with STV taking the lead alongside Wa’ed Ventures and RZM Investment, according to wamda. Since its inception in 2022, Abyan Capital has reshaped Saudi Arabia’s financial advisory landscape, offering automated, user-friendly, and Shariah-compliant investment and savings solutions. The company’s range of products empowers users to efficiently manage investments, optimize asset allocations, and achieve financial objectives seamlessly.

  • Saudi Arabia Posts Budget Deficit as Capex Spending Climbs

    Saudi Arabia recorded a sixth straight quarterly budget deficit as increased spending on capital expenditure and other areas outpaced growth in revenue.

    The shortfall stood at 12.4 billion riyals ($3.3 billion) in the first quarter, more than four times higher than a year ago, according to a statement from the Ministry of Finance on Sunday. On a quarterly basis, the deficit eased from about 37 billion riyals at the end of 2023.

  • Saudi Arabia Posts Budget Deficit as Capex Spending Climbs

    Saudi Arabia recorded a sixth straight quarterly budget deficit as increased spending on capital expenditure and other areas outpaced growth in revenue. The shortfall stood at 12.4 billion riyals ($3.3 billion) in the first quarter, more than four times higher than a year ago, according to a statement from the Ministry of Finance on Sunday. On a quarterly basis, the deficit eased from about 37 billion riyals at the end of 2023.

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