MUST-READS

• How to fund and launch your business in Mena and beyond

  In the early days, angel investors – friends, family and early believers – might help with small, first-round funds, covering initial tech, product development, or team basics. This initial funding is essential to get things off the ground, as I learned through our first round with angels, who provided the cash to build our tech platform and assemble our team. Then comes seed funding, which is the first real step into venture territory, where you need to show early traction and a solid market entry plan. If you’re on the right track, you’ll progress to Series A – the realm of serious venture capital – where larger amounts are invested to support aggressive scaling. With each round the bar is set higher, and the scrutiny gets sharper. But for those who make it through this path can turn a solid idea into a powerful, high-growth business.

• Microsoft completes construction for new Saudi data centre region

  Microsoft has reached a major milestone in Saudi Arabia with the completion of construction for three data centres and Azure Availability Zones in the Eastern Province. The US software giant expects the new Saudi data centre region to be operational in 2026. Microsoft initially announced plans for a new Microsoft Data Centre and Azure cloud region in Saudi Arabia during LEAP 2023, to offer enterprise-grade reliability and performance combined with customer privacy, data residency, and high-speed latency standards. The move aligns with Microsoft’s $60 billion global investment in AI and cloud infrastructure for 2024. The new Azure cloud region in Saudi Arabia is critical for Microsoft both in terms of its regional and global goals. There is now a global race to build out data centre infrastructure in order to support to growing demand for AI compute and the vast, fast growing amounts of data that support it.

• Saudi Stocks Poised to Rebound as Trade War Risks Grow for Peers

  Saudi stocks are trailing emerging-market benchmarks for the first time since 2020, but some investors see several reasons why next year could turn out better. For one, Saudi Arabia isn’t in the crosshairs of US President-elect Donald Trump’s threats to hike trade tariffs. That could make the market more appealing than peers such as China or Mexico. And while share valuations still aren’t cheap, they’ve come down from lofty levels seen earlier this year. “We are bullish on the Saudi market for 2025,” said Thea Jamison, managing director at Change Global Investment LLC. “Saudi will benefit from the portfolio flow rotation out of China. To top it off, valuations are becoming more compelling once again.”

• Lebanon’s Hezbollah aims to rebuild longer term despite Israeli blows, US intel says
  Lebanon's Hezbollah has been significantly degraded militarily by Israel, but the Iran-backed group will likely try to rebuild its stockpiles and forces and pose a longterm threat to the U.S. and its regional allies, four sources briefed on updated U.S. intelligence told Reuters. U.S. intelligence agencies assessed in recent weeks that Hezbollah, even amid Israel's military campaign, had begun to recruit new fighters and was trying to find ways to rearm through domestic production and by smuggling materials through Syria, said a senior U.S. official, an Israeli official and two U.S. lawmakers briefed on the intelligence, speaking on condition of anonymity.

• Saudi Arabia’s Almoosa plans to raise up to $450 million through Riyadh IPO
  Saudi healthcare provider Almoosa Health plans to raise as much as 1.688 billion riyals ($449.3 million) from selling a 30% stake in the company via an initial public offering on the Riyadh bourse, it said on Wednesday. In a statement the company said the price range for the offering had been set at 123-127 riyals per share, implying a market capitalization of between 5.45 billion riyals and 5.62 billion riyals.

• Imax Opens First Location With Saudi Arabia’s Muvi, Sets Inaugural Arabic-Language Feature

  Imax and Saudi Arabia’s Muvi Cinemas on Wednesday hosted a grand opening event for the new Imax location at Muvi Mall of Arabia in Jeddah. This is the first Imax location from Saudi’s largest exhibitor. During the event, which was held just ahead of the kickoff of the Red Sea Film Festival, Imax revealed plans to release the first-ever Arabic-language feature in the format, Black Light Films’ action comedy Ambulance. Directed by Colin Teague and starring Ibrahim Hajjaj and Muhammed Al-Qahtani, it will release on April 17, 2025. The film, set against the backdrop of modern-day Riyadh, centers on two paramedics who stumble upon a briefcase containing 2 million riyals. What should be a life-changing moment quickly spirals into their worst nightmare as the duo becomes entangled in a web of kidnapping, blackmail and murder.

• Saudi Arabia courts growing number of foreign investors

  French President Emmanuel Macron was in Saudi Arabia Wednesday for his first visit in six years, sealing deals and deepening ties. Specifically on the agenda was energy, with Saudi officials signing 25-year agreements with French companies TotalEnergies and EDF Renewables to build three solar parks, as well as defense: Macron confirmed progress on selling Rafale fighter jets to Saudi Arabia, calling it a “major change in the bilateral relationship.”

• Energy minister: Saudi Arabia is rapidly progressing through energy transformation phases

  Minister of Energy Prince Abdulaziz bin Salman said that Saudi Arabia is rapidly progressing through energy transformation phases and it is benefiting financially from this transformation. Addressing a dialogue session at the fourth Saudi Green Initiative Forum in Riyadh on Tuesday, he noted that Saudi Arabia is living in the "energy transition" phase instead of just talking about it. "Replacing one million barrels of oil with gas and renewable energy is a remarkable achievement," he said. Earlier on the day, Prince Abdulaziz inaugurated the SGI Forum, which is being held on the sidelines of the 16th session of the Conference of the Parties to the United Nations Convention to Combat Desertification (COP16) that kicked off in Riyadh on Monday.

• Saudi Arabia and China sign 24 agreements to enhance economic cooperation

  Saudi Arabia and China have signed 24 agreements aimed to further enhance economic cooperation between the two countries. The agreements were signed on the sidelines of the Saudi-Chinese Business Council Forum, which was held in the presence of the visiting Minister of Health Fahd Al-Jalajel in Beijing. The forum emphasized the importance of strengthening economic partnerships and expanding cooperation horizons to achieve common interests and the future vision that brings the two countries together. Addressing the forum, Al-Jalajel said that the partnership between the Kingdom and China is deep and is embodied in the shared commitment to advancing global health and addressing global health challenges. "Our discussions today highlight our cooperation, especially in the field of encouraging innovation and creativity in the field of biotechnology and robotic technologies, and localizing the healthcare industry to ensure flexibility and sustainability," he said.

• Saudi Arabia, France to collaborate on 3 renewable energy projects: Al-Falih

  Three renewable energy projects are set to be developed in Saudi Arabia with the involvement of French companies, according to Minister of Investment Khalid Al-Falih. The initiatives, which will be officially announced by the Saudi Energy Minister Prince Abdulaziz bin Salman in the presence of French President Emmanuel Macron, are part of the Kingdom’s growing efforts to lead the global transition toward sustainable energy. “I don’t know if the news is out, but I’ll break it in. There will be three major renewable projects announced by His Royal Highness Prince Abdulaziz and signed in the presence of President Macron,” Al-Falih said during the Saudi Green Initiative Forum held in Riyadh at COP16.

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