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

    We saw a record-breaking US$659 million invested in MENA-based startups in the first half of 2020 alone. Money was flowing into, not pulling out of, the region’s startups. So, what happened? 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.

  • Saudi-led forces say thwart two attacks by Yemen’s Houthis

    The Saudi-led coalition fighting against Yemen’s Houthi movement said had it thwarted two attacks by the Houthis on Friday morning, including destroying an explosive-laden boat in the southern Red Sea, Saudi state TV said on Twitter.

  • SABIC And Plastic Energy Set To Start Construction Of Pioneering Advanced Recycling Unit To Increase Production Of Certified Circular Polymers

    In another significant contribution towards the development of a circular economy for plastics, SABIC and Plastic Energy are set to commence construction on the first commercial unit to produce its flagship certified circular polymers, part of the TRUCIRCLE™ portfolio, which are made from the upcycling of mixed and used plastic.

  • Students to start 2nd semester online

    About 6 million students Sunday started their second semester studies online in Saudi Arabia as part of efforts to curtail the spread of the novel coronavirus. Schools will also begin distributing about 62 million textbooks at different education levels and the deliveries will be coordinated with parents to observe anti-virus precautions. Guidelines will be provided to students on making optimal use of online learning platforms.

  • Over $1bn piled into MENA-based startups in 2020

    A staggering $1.031bn was plowed into MENA-based startups in 2020, marking a 13 per cent increase from 2019, startup data platform MAGNiTT has confirmed. Despite crossing the $1bn mark for the first time, the region’s total deal count pared by 13 per cent, down to 496 transactions last year, the 2021 Emerging Venture Markets Report suggested.

  • Nokia and Zain KSA smarten up Saudi homes and offices with 5G-powered FWA and Wi-Fi 6

    Nokia today announced an expansion of its strategic 5G partnership with Zain KSA to rollout 60,000 FastMile 5G Gateway 3.1 with eSIM across Saudi Arabia over the next 12 months. The gateways will deliver stronger signal, better connectivity and ultra-high data speeds to every corner of homes and offices in the Kingdom. The move allows Zain KSA to support smart home and office adoption in the country with enhanced connectivity for smart devices through 5G and Wi-Fi 6, which altogether guarantees an improved customer experience.

  • How much time do Saudis spend on their smartphones?

    He pointed out that the number of users of social media in Saudi Arabia reached 25 million, while the number of phone users reached 44 million in 2020, due to the fact that some people own two or more devices. According to Al Qarawi, out of the world population of 7.75 billion people, 4.54 billion use the internet, 5.19 billion use phones, and 3.80 billion use social media.

  • HR Ministry moves to allow quarterly payment of expat levy and iqama fee

    The ministry will review the issue of financial compensation and government fee on expatriate workers and likely to reset them on a quarterly basis instead of the yearly basis, Al-Mojel said, adding, that this will solve many problems facing the private sector firms.

  • Strategic Partnership Agreement to Bolster Saudi Non-Oil Exports

    The cooperation agreement includes contributing to developing non-oil exports, promoting national products in international markets, enhancing and stimulating the export environment, overcoming the obstacles facing Saudi exporters, building strategic partnerships and a distinguished relationship, as well as empowering Saudi exporters through Saudi foreign business councils and visiting trade delegations.

  • Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Saudi Arabia’s National Commercial Bank

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a settlement with the National Commercial Bank (NCB), a bank headquartered in Jeddah, Saudi Arabia. NCB agreed to remit $653,347 to settle its potential civil liability for 13 apparent violations of the Sudanese Sanctions Regulations, or section 2(b) of Executive Order (E.O.) 13582 of August 17, 2011, “Blocking Property of the Government of Syria and Prohibiting Certain Transactions With Respect to Syria."