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  • Martin Griffiths in Saudi Arabia for talks on Yemen

    The UN envoy to Yemen Martin Griffiths was in Saudi Arabia on Monday for a series of meetings with Yemeni and Saudi officials, according to a UN spokesman. His visit comes as part of the organization’s efforts in seeking a nationwide ceasefire in Yemen, alleviate the humanitarian suffering, and resume the political process toward peace, the spokesman added.

  • Saudi Wealth Fund Bets on Startups With Hambro Perks Investment

    Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd., joining the trend for state investors in the region to put money into early-stage companies. The Public Investment Fund of Saudi Arabia is an anchor investor in the $50 million Oryx Fund, which will target fintech, health and education technology startups across the Middle East and North Africa, according to Dominic Perks, co-founder of London-based venture firm Hambro Perks. He declined to say how much the Saudi fund, also known as PIF, has invested.

  • Saudi-based fintech Tweeq signs partnership deals with Mastercard and Paymentology

    Tweeq, a Saudi fintech which aims to provide a feature-rich spending account for individuals and SMEs, has signed exclusive partnership agreements with Mastercard, the leading technology company in the global payments industry and Paymentology, a leading digital commerce service and payment solution provider.

  • Commentary: Saudi Arabia pushes foreign companies to establish local headquarters

    It is too early to gauge the impact without knowing how authorities will define what is a “regional headquarter”. More details about that will be released later this year, the government says.

  • Saudi Arabia starts tests of emergency cell warnings system

    The directorate urged people make sure their phones are updated ahead of the tests and to evaluate the system through a link which will be sent out via SMS. The system will allow authorities to broadcast warnings in specific area to warn and inform residents of emergencies, the report added.

  • Saudi partners with Philips as part of country’s mission to become leader in AI healthcare

    The Saudi Data and Artificial Intelligence Authority (SDAIA) has partnered with Royal Philips to further support the Kingdom’s “goal of becoming a leader in driving artificial intelligence [AI] in healthcare,” it was announced.

  • Why 2021 Could See More Startups From The Middle East Become Unicorns

    It seems the pandemic had driven the region’s VCs to be more sophisticated and strategic in how they deploy capital, but also to be bolder. Larger amounts of money were flowing into a smaller number of later-stage startups, and in particular to industries that have evolved in the pandemic climate, such as fintech, edtech, and healthtech.

  • F-35 Sales To UAE: What Will Being A Major Security Partner Mean

    Ever since Donald Trump designated the United Arab Emirates and Bahrain as “major security partners,” experts have been trying to assess what it means and what sort of privileges the designation bestows. Some see it as a symbolic gesture; others see it as an indication for much-improved relations resulting from the Abraham Accords that would eventually yield rewards for the two regional allies of America.

  • Investments in Saudi Startups Grow by 55%

    The General Authority for Small and Medium Enterprises (Monshaat) has revealed that the Year 2020 saw investments worth USD152 million in KSA-based startups, a 55 percent increase year-over-year (YoY).

  • Saudi unemployment dips slightly to 14.9% in third quarter, data shows

    Unemployment in Saudi Arabia fell in the third quarter of 2020 to 14.9% from 15.4% in the second quarter, official data in the world's biggest oil exporter showed on Friday.