#Saudi Arabia

BinDawood acquisition

BinDawood Holding to acquire stake in French influencer marketing agency

Ykone is an influencer marketing agency focused on travel, beauty, fashion and luxury brands

Twitter Saudi Arabia

Twitter unveils key trends shaping the Saudi conversation in 2022

The report highlights emerging opportunities for brands and marketers to connect with audiences

UAE and Korea discuss cooperation in food security, health, technology

UAE and Korea discuss cooperation in food security, health, technology

Their discussion took place during the virtual ‘UAE-Korea Investment Business Forum’ organised by the Ministry of Economy

Mclaren

McLaren raises $150m from shareholders with cash low

Shareholders include Bahrain’s sovereign wealth fund Mumtalakat, investment firm Ares Management Corporation and Saudi Arabia’s Public Investment Fund

Saudi Investment

Venture capital investments in Saudi Arabia record SAR2.19bn

According to the ‘H1 2022 Saudi Arabia Venture Capital Report,’ this figure surpassed the total amount deployed in 2021

Oil August 1

Saudi crude exports set to rise in July on stronger China flows

Shipments for June were the lowest since September

CNNB Solutions

UAE e-commerce firm CNNB Solutions expands to Kuwait

The company supports brands with their e-commerce and direct-to-consumer strategies, to help them reach more customers

Alinma Bank Saudi

Alinma Bank, Foodics sign strategic fintech partnership to empower SMBs in Saudi

The two brands will launch new products to enable small business owners to have full autonomy over their business decisions

ASI index laincehd by Tadawul GettyImages-1057624978-e1636003123118

Saudi Arabia’s Tadawul launches TASI Islamic Index

The index will track the performance of companies listed as Shariah-compliant on the Saudi stock exchange

Oil

Oil declines as traders weigh mideast supply after Biden trip

Crude has slumped since mid-June as concerns about a potential recession ripped through commodity markets

Oil

Oil set to end volatile week below $100 on slowdown concerns

West Texas Intermediate tumbled below $91 a barrel on Thursday

Saudi Arabia airspace

Saudi Arabia opens airspace to all carriers

The move by Saudi Arabia marks a win for Joe Biden as he uses his visit to the region this week to advance US strategic interests

Oil

Oil price drops as surging inflation escalates slowdown concerns

Demand for motor fuel plunged last week to the lowest seasonal level since 1996

Oil

Oil extends drop as concerns over economic slowdown grip market

Crude has tumbled since early June on escalating fears of a slowdown as central banks raise rates to combat rampant inflation

Here’s how Right Farm is tackling GCC region’s food security challenges

Founded in 2021, Right Farm uses predictive technology, which is designed to provide a seamless and convenient end-to-end process from farm to table

Saudi Arabia raises oil prices for Asia with demand holding up

Saudi Arabia sends more than 60 per cent of its crude exports to Asia

AlUla-Low-Carbon-Tram project announced

Plans for new tram system in AlUla announced

The tram is expected to boost AlUla’s development as a tourist hotspot and modern living destination and will complement the existing autonomous pods shuttle service

Hospitality Tourism

An industry in motion: Stakeholders across hospitality, tourism space share key insights

Executives share their views on the growth and future prospects of their sectors

Saudi Arabia

Saudi Arabia elevates two women to senior roles in government

Shihana Alazzaz has been named the first female Deputy Secretary General of the Saudi Cabinet

unemployment

Saudi unemployment falls to lowest since 2008 as economy booms

Citizen unemployment peaked at over 15 per cent at the height of the pandemic in mid-2020 and has since fallen almost every quarter

Pure Harvest

Billionaire Olayans join funding for agritech firm Pure Harvest

Other investors include Britain’s Metric Capital Partners and South Korea’s IMM Investment

Ministry of Health

Saudi’s Ministry of Health embraces multi-cloud approach to boost healthcare services

The cloud platform will enable innovation while enhancing efficiency, resiliency, and security for healthcare providers

King Saud University IBM

IBM, Saudi’s King Saud University partner to advance skills development

IBM will work with KSU to support AI education and awareness while maximising partnerships with academia, the public, and private sector

Saudi Crown Prince and King of Jordan

Saudi investments in Jordan amount to $14bn: Saudi Chambers of Commerce and Industry

The figures were cited in an economic report issued by the Saudi Chambers of Commerce and Industry during Saudi Crown Prince Mohammed bin Salman’s visit to Jordan

Twitter survey on travel 2022 _luggage Getty Images

Travel trends: More than 50% people in UAE and Saudi Arabia are seeking new experiences

Results from a new Twitter Insights Survey showed that around 33 per cent of the respondents in Saudi Arabia didn’t know how they felt about travel in 2022 against 31 per cent who were confident to hop on a plane and travel

central bank

UAE Central Bank raises base rate by 75 basis points

Central banks across the GCC have also raised their interest rates

APICORP Mena energy investment outlook _ GettyImages

Energy investments in the MENA region to reach $879bn in five years: APICORP

The MENA region is well-positioned to supply around 10-20 per cent of the global hydrogen market by 2050, with the GCC and North Africa set to become global export hubs

US President

US President to visit Saudi Arabia in July

Joe Biden will visit the country on July 15-16

Saudi Arabia

Saudi Arabia lifts Covid-19 precautionary measures

The kingdom registered 905 new Covid-19 infections on June 12

US inflation

Oil extends losses as investors weigh US inflation, China demand

US inflation accelerated to a fresh 40-year high last month, raising the likelihood of more aggressive interest-rate hikes from the Federal Reserve