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  • Amazon eyes partnerships with Saudi SMEs, tech startups

    A clear indication of the success of the site is the fact that Amazon announced plans in March to hire 1,500 new employees in Saudi Arabia and add 11 buildings to its network. The expansion will boost storage capacity in the Kingdom by 89 percent and its geographical delivery network by 58 percent.

  • Opinion: Mustafa al-Kadhimi’s government in Iraq has a long way to go. But at least it’s a start.

    Kadhimi’s future depends on parliamentary elections scheduled for October. He isn’t a candidate, but most people I met here assume he’d like to find a way to remain in the job. His best chance is a high turnout, encouraged by the Shiite religious leadership in Najaf, which would reduce the parliamentary voice of the Iranian-backed militias. If parliament is deadlocked, Kadhimi might remain as prime minister, with support from Sunnis, Kurds and a consensus of Shiite parties.

  • The $20 Billion Winner of the American EV Startup Boom: Saudi Arabia

    The single biggest financial beneficiary of the recent U.S. electric-vehicle startup boom is an unlikely candidate: the world’s largest exporter of oil. The kingdom of Saudi Arabia stands to record a profit of nearly $20 billion on a $2.9 billion investment in Lucid Motors Inc., a San Francisco Bay Area electric-car maker that is set to list publicly after it completes a merger with a special-purpose acquisition company Friday. The Saudi Public Investment Fund will own over 60% of the company, which is expected to have a market capitalization of about $36 billion based on the SPAC’s current share price.

  • Iran notifies parties won’t resume Vienna talks before August

    Iran has formally notified the European coordinator that it will not be ready to return to negotiations on possibly restoring full compliance with the 2015 Iran nuclear deal in Vienna until after Ebrahim Raisi is inaugurated in early August, a senior U.S. administration official said on the sidelines of a diplomatic reception tonight.

  • Saudi Aramco VC arm invests in Chinese medical robot startup

    Prosperity7 Ventures, the venture capital arm of Saudi Aramco, has invested in Chinese medical rehabilitation robot firm Fourier Intelligence as part of the startup’s Series C+ funding round. “All proceeds will go towards global market expansion and technological development, furthering the company’s mission to provide intelligent rehabilitation technologies to empower clinicians and neurological patients,” the Chinese company said in a Linkedin post.

  • Funding to Mena start-ups rises 64% to $1.2bn in first half of 2021

    The total funding secured by start-ups in the Mena region rose by 64 per cent in the first half of the year as economies in the region continue to recover from coronavirus pandemic and investors allocate more cash to promising start-ups. Funding for Mena start-ups during the period stood at $1.2 billion, more than the $1.09bn raised in the whole of last year, according to the latest report from data platform Magnitt.

  • Saudi Research & Media Group announces transformation strategy focusing on platform expansion and international partnerships across five new verticals

    Saudi Research & Media Group (SRMG) – which owns more than 30 major media outlets including Asharq Al-Awsat, Asharq News and Arab News, and has a combined monthly reach of 165 million – announced a new transformation strategy on Sunday focusing on platform expansion, international partnerships and strategic investments across five key business verticals.

  • Nora al-Matrooshi will soon start training to become UAE’s first female astronaut

    Matrooshi and her fellow countryman, Mohammad al-Mulla, 33, will later this year head to the United States to train at NASA's Johnson Space Center. They now join Sultan al-Neyadi and Hazza al-Mansoori in the Emirati fellowship of astronauts. The two Emiratis are currently training in-house in the emirate of Dubai, from learning to speak Russian to flying lessons.

  • Saudi Arabia participates in UN’s high-level political forum on sustainable development

    Saudi Arabia is participating in the United Nations high-level political forum on sustainable development (HLPF), which is being held virtually this year in the wake of the global outbreak of the coronavirus pandemic. Being held under the auspices of the UN Economic and Social Council (ECOSOC), the forum also includes a three-day ministerial meeting.

  • Blinken meets with Saudi and French counterparts to discuss Lebanon reform

    Mr Blinken noted on Twitter that he had met Saudi Prince Faisal bin Farhan and French Foreign Minister Jean-Yves Le Drian to call on “Lebanon’s political leaders to show real leadership by implementing overdue reforms to stabilise the economy and provide the Lebanese people much-needed relief".