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Author: Steven Sahiounie
RIYADH: Startups in Saudi Arabia saw massive growth during the last decade raking in $3.3 billion in venture capital funding, according to a report issued by MAGNiTT.
RIYADH: The materials sector led trading on Saudi Arabia’s Tadawul All Share Index, accounting for approximately SR87 billion ($23.2 billion) or 15.11 percent of the market, according to TASI’s 2024 first-quarter report.
Of the amount, $50mln will be dedicated to supporting small and medium-sized enterprises Riyadh: The Islamic Development Bank (IsDB) and Tunisia signed a financing agreement worth $60 million. Of the amount, $50 million will be dedicated to supporting small and medium-sized enterprises (SMEs), while the remaining $10 million will be provided as a grant in collaboration with the United Nations Development Program (UNDP) for the same purpose.The financing agreement was signed at the bank’s annual meetings in Riyadh by Tunisian Minister of Economy and Planning Feryel Ouerghi Sebai and IsDB Chairman Dr. Mohammed bin Sulaiman Al-Jasser. Source: Zawya
LONDON – Oil prices edged higher on Friday, but headed for their steepest weekly loss in three months as uncertainty about demand and high interest rates drove a sell-off limited by the prospect OPEC+ will continue to curb output.
The tightening of petroleum supplies and depletion of inventories widely anticipated at the start of the year has failed to materialise so far
Oman has awarded a project to build 12 schools in various parts of the Gulf country with a value of around 20.9 million Omani rials ($54 million), the official news agency has said.
With mega and giga infrastructure projects on the rise in the Middle East, construction is cited to ramp up from 2025
Iraq’s Ministry of Planning has urged quicker action to resume work on 15 hospital projects across five governorates that have been delayed.
Saudi Arabia intends to offer six new mining sites to investors as part of the fifth licensing round to exploit its massive mineral wealth, a Saudi official has said.
The Abu Dhabi Department of Economic Development (ADDED) has signed a Memorandum of Understanding (MOU) with Emirates Global Industries – Alfahim Group to enable the manufacturing and assembly of electric commercial vehicles (ECVs) in the emirate.
