Startup Wrap – Saudi Arabia leads November’s funding spree with $338m

  • CAIRO: Saudi Arabia’s startup ecosystem continues to dominate the region after raising the most funds in the Middle East and North Africa during November. According to Wamda’s Monthly report, the MENA region saw $764 million raised across 42 rounds in November – a 390 percent month-on-month i...
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Saudi Arabia, Hong Kong sign agreement to boost direct investment

  • RIYADH: Direct investment opportunities between Saudi Arabia and Hong Kong are set to grow after a new agreement was inked. A memorandum of understanding focusing on greater cooperation across funding avenues was signed in the Asian city in presence of the Kingdom’s Minister of Inve...
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Closing Bell: TASI ends green at 11,225 points with $1.62bn trading volume 

  • RIYADH: Saudi Arabia’s Tadawul All Share Index experienced a slight rise on Thursday, gaining 51.33 points, or 0.46 percent, to close at 11,225.35.    The benchmark index saw a total trading turnover of SR6.1 billion ($1.62 billion), with 107 listed stocks advancing and 107 ret...
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Saudi-Vietnamese Joint Committee explores ways to boost trade

  • RIYADH: Trade exchange between Saudi Arabia and Vietnam is on course to prosper following discussions in a ministerial meeting.   The fifth Saudi-Vietnamese Joint Committee, taking place in the Asian country’s capital of Hanoi, saw the participation of the Kingdom’s Assistant Deputy Mini...
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Saudi jobs boom unmatched anywhere in the world, Budget Forum told

  • RIYADH: Some 1.1 million new jobs have been created in Saudi Arabia in the past year as the Kingdom’s economic diversification policies continue to bear fruit, according to a government minister. At a special forum organized in Riyadh to mark the announcement of Saudi Arabia’s 2024 budget, Mi...
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UAE energy minister: world needs to focus on phasing out coal

  • DUBAI: The world needs to focus on phasing out coal, UAE Energy Minister Suhail Mohamed Al-Mazrouei said on Thursday on the sidelines of the COP28 climate summit, according to Reuters. “I don’t think we should talk about (fossil fuel) phase out because the technologies are also improving. Wha...
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Majid Al-Futtaim urges public-private sector collaboration to unlock sustainable finance in region

  • Majid Al-Futtaim, a shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has published a sustainable finance paper, which examines the significant increase in sustainable finance in the MENA region and the ways it can act as a catalyst for positive cha...
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Saudi Arabia, IAEA discuss cooperation on development of nuclear energy

  • DUBAI: The International Atomic Energy Agency, the global overseer of the nuclear industry, says it is collaborating with Saudi Arabia to assist the Kingdom in developing its nuclear power production sector. Given its key role in the regional energy landscape, there is a pressing need for pro...
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Saudi Arabia’s 2024 budget set to aid the Kingdom’s successful trajectory, says finance minister

  •   RIYADH: Saudi Arabia’s 2024 budget is set to sustain the Kingdom’s positive economic momentum, with an emphasis on strategic  capital expenditure aligned with approved national strategies, according to the Minister of Finance. In a statement following the 2024 budget approval, M...
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Saudi Arabia set to lead global drive for digital sustainability with new e-waste initiative

  • RIYADH: Saudi Arabia is poised to spearhead the global drive for digital sustainability through a new e-waste initiative aimed at implementing comprehensive regulations in Zambia, Rwanda and Paraguay.  The Kingdom’s Communications, Space and Technology Commission, in collaboration with t...
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