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  • Bank of America Taps StanChart Banker to Run Saudi Franchise

    Bank of America Corp. has hired Standard Chartered Plc’s Yazaid Al-Salloom to run its business in Saudi Arabia, according to people familiar with the matter. Al-Salloom is replacing Motashar Al Murshed who joined a Saudi government body in recent months after nearly 12 years with Bank of America, the people said, asking not to be named because the information is not public. Besides Saudi Arabia, Al-Salloom will also cover Kuwait and Bahrain for the U.S. bank.

  • Saudi Arabia shows strong intent to drive a cloud-first, cloud-smart, and multicloud strategy

    While multicloud adoption is rising, these are early days that create some challenges. Both in Saudi Arabia (54%) and globally (49%), respondents mentioned managing security across cloud borders most often as a multicloud management difficulty. Saudi respondents named maintaining consistent performance, second most often, notably more than average, while the task of integrating data across cloud environments consistently ranked in the top three most-mentioned issues among ECI respondents.

  • Saudi food startup raises $ 170 mn from Sequoia Capital India, others

    Sequoia Capital India and Prosus NV have backed a $170 million funding round for Saudi Arabian food and beverage technology startup Foodics, as global investors increasingly seek to back fast-growing firms in the Middle East.

  • Foodics: Sequoia, Prosus Back Saudi Food Startup Raising $170 Million

    Sequoia Capital India and Prosus NV have backed a $170 million funding round for Saudi Arabian food and beverage technology startup Foodics, as global investors increasingly seek to back fast-growing firms in the Middle East.

  • Everything to Know About Saudi Arabia’s Inaugural Islamic Arts Biennale in 2023

    Cementing Saudi Arabia’s status as a serious art powerhouse on the world stage, the Diriyah Biennale Foundation has announced its inaugural Islamic Arts Biennale. Taking place in Jeddah in early 2023, this incredible event will showcase the vibrancy of Islamic art, both past and present.

  • Savvy’s Brian Ward: ‘We’re not part of the Saudi state’

    “We are a 100% PIF-owned company, but we are also a fully commercial entity. And we are all committed to driving the growth of the gaming sector and to facilitating greater, more inclusive, and more equitable access to this fast-growing, dynamic industry. Given our global mandate, we are in constant conversation with partners and potential partners across the world to ensure that we pursue our mandate in a manner that is consistent with the values and culture of the global gaming community.”

  • Saudi start-ups emerge star attraction for top investors

    Start-ups from across the Middle East and North Africa (Mena) had raised nearly $375 million during the past month, with the Saudi firms taking a sizeable chunk of the pie, netting $219 million across 23 investment deals in February, according to a report.

  • Saudi start-ups emerge star attraction for top investors

    Start-ups from across the Middle East and North Africa (Mena) had raised nearly $375 million during the past month, with the Saudi firms taking a sizeable chunk of the pie, netting $219 million across 23 investment deals in February, according to a report. With 58% of overall funding in the wider region going towards Saudi Arabia, it is no surprise to hear that headcount has grown by 20% within the kingdom's start-ups over the past 12 months, said the report by leading recruitment consultancy Robert Walters Group, adding that this figure is expected to grow further this year as the government continues to create the ideal environment for start-up growth and international investment.

  • Saudi Arabian start-up Lawazem raises $1.3m to boost technology

    Saudi Arabia's operational procurement start-up Lawazem raised $1.3 million in its seed-funding round, which will be used by the company to boost its technology and add more products to its portfolio. Operational procurement refers to the collection of products and services needed to sustain a company’s day-to-day business operations.

  • Saudi Arabia to Start Manufacturing Drones, Eyeing Foreign Exports

    “INTRA Defense Technologies launched the Samoom UAV for the first time at the World Defense Show in Riyadh, and it is the first strategic unmanned aircraft that is being designed and developed and will be manufactured in Saudi Arabia,” said Ghamdi. “Samoom’s operational endurance allows it to conduct up to 50-hour reconnaissance missions with the UAV flying at up to 45,000 ft,” he revealed, adding that it could be ready to serve the Saudi armed forces by 2024.