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  • Egyptian e-commerce startup SIDEUP raises $1.2m seed round for Saudi expansion

    Egyptian startup SIDEUP, which provides a suite of services for e-commerce businesses, has raised US$1.2 million in seed funding from regional and global investors to help it expand into Saudi Arabia.

  • NWC starts implementation of $1.14bn Projects in Eastern Province

    The National Water Company (NWC), Saudi Arabia announced the launch of the implementation phase of the desalinated water distribution system projects in Dammam, Al-Khobar, Al-Ahsa, and Qatif, for covering them completely, round-the-clock with desalinated water.

  • Department of State Dedicates New U.S. Consulate General in Dhahran, Kingdom of Saudi Arabia

    In an important symbol of our partnership with the Kingdom of Saudi Arabia, Deputy Assistant Secretary of State for Arabian Peninsula Affairs Daniel Benaim, U.S. Embassy Riyadh Chargé d’Affaires Martina Strong, and U.S. Consul General in Dhahran David Edginton officially dedicated the new U.S. Consulate General campus in Dhahran. The new campus is situated on a 10.5-acre site in the Al Andalus District in the city of Al-Khobar and incorporates numerous sustainable features to conserve resources and reduce operating costs, including demand-controlled ventilation, efficient site lighting, and on-site wastewater treatment and reuse. It achieved Leadership in Energy and Environmental Design (LEED®) Silver certification—a globally recognized mark of achievement in high-performance, best-in-class, green buildings. Skidmore, Owings & Merrill, LLP of Washington, D.C., was the design architect for the project, and Caddell Construction Company, LLC of Montgomery, Alabama, constructed the complex, employing a workforce of roughly 800 U.S., Saudi Arabian, and third-country nationals and injecting approximately $95 million into the local economy.

  • Nine of 11 Saudi starters play for same club. Who are Al Hilal?

    Founded in 1957, Riyadh-based Al Hilal are the kingdom’s – and Asia’s – most successful team, attracting big names from home and abroad. In June, the team nicknamed the Blue Waves were crowned champions of the Saudi Pro League for an 18th time.

  • Nine of 11 Saudi starters play for same club. Who are Al Hilal?

    Since the top Saudi league was established in 1976, Al Hilal are among only four teams to have participated in every season. They have also won the Crown Prince Cup, the oldest domestic football competition in the kingdom, a record 13 times. And last year, Al Hilal became the first club to win four Asia Football Confederation (AFC) Champions League titles. They have also scooped the Asia Cup Winners Cup and the Asian Super Cup twice.

  • Third-quarter profit of Saudi Arabia’s 10 largest banks rise 9.3% on interest income boost

    The aggregate net profit of Saudi Arabia's 10 largest banks increased by 9.3 per cent on quarterly basis in the third quarter of this year, driven by higher interest rates and lower impairment charges, according to professional services consultancy Alvarez & Marsal. The banks' cumulative net income for the three months to the end of September rose to 16.5 billion Saudi riyals ($4.4 billion), the consultancy said in its latest Saudi Arabia Banking Pulse report.

  • Saudi developer starts delivery of Sedra Phase One homes

    Roshn, a national community developer fully owned company by the Saudi Public Investment Fund (PIF), has announced that it has begun handing over the villas and townhouses within the Phase One of its landmark development, Sedra, in northern Riyadh, ahead of schedule.

  • Charted: The Most Expensive Battery Metals

    Supply chain issues and a global rush to secure supplies have skyrocketed battery metal prices over the last year. And if battery metals remain expensive, the decade-long freefall in lithium-ion battery prices might come to a temporary halt.

  • Aramex reports an 18% surge in third-quarter revenues

    The Emirati multinational logistics, courier, and package delivery solution provider Aramex reported on Thursday an 18% surge in revenues for the third quarter (Q3) of 2022.

  • The startup industry is struggling. Here’s how founders can navigate the current funding environment.

    In May, startup accelerator Y Combinator (YC) warned its portfolio companies that venture capital would dry up due to increasing interest rates and a slowdown in global economic growth, advising them to plan for the worst. YC, which invested early in Airbnb, Coinbase, Dropbox, and Reddit, encouraged startups to cut expenses and extend their runway during the reversal of a thirteen-year bull run. Therefore, this is a time for startups to return to the drawing board and revisit their game plan to assess how to best navigate the current funding climate and survive.