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  • More than 13 Saudi startups preparing to go public: SVC CEO

    More than 13 Saudi startups are preparing to go public in the coming two years, Asharq News reported, citing Nabeel Koshak, CEO of Saudi Venture Capital Co. (SVC).   Divestitures—including acquisitions, mergers or equity markets—from startups in the Kingdom, increased from two per year to 17 over the last two years. This includes the IPO of Jahez International Company for Information System Technology (Jahez) on the Saudi Exchange (Tadawul).  

  • Demand for higher education in Saudi Arabia likely to hit 2.75M seats by 2030: Colliers

    Colliers International expected the total demand for higher education in Saudi Arabia to rise to 2.75 million seats by 2030, compared to approximately 1.97 million seats in 2022, requiring more than 800,000 new seats by 2030 to meet demand in the Kingdom.   Its latest report on the educational landscape in the Kingdom, the research company pointed to the significant reliance on the public sector for higher education.

  • Saudis Eye Big Investment to Kick Off Foray Into Semiconductors

    The Public Investment Fund is looking at making a “sizable investment” this year into the semiconductor industry, Saudi Minister of Communications and Information Technology Abdullah Alswaha said in an interview at the World Economic Forum in Davos. “They plan to make an announcement on a particular champion within the space to lead the Saudi efforts,” he said, declining to give further details.

  • UK millionaires head to UAE: Richest Brits leave as cost of living crisis worsens, Dubai real estate to benefit

    A combination of high taxation, rising cost of living and deteriorating health system in the UK is driving the UK’s super-rich to migrate to various parts of the world, with the UAE emerging as their most favoured destination, recent studies and experts revealed. Rising risks of the UK slipping into recession in 2024, leading to further value deteriorating of property and other assets are predicted to further accelerate the migration of millionaires from London – once the most favoured city for wealthy from around the world – going forward.

  • Houthis can’t ‘execute the same way’ after strike, US says

    The U.S. and allied strike on Houthi targets in Yemen on Thursday didn’t completely destroy the Houthis’ ability to launch drone and missile attacks on commercial shipping targets in the Red Sea—but it did hurt, U.S. officials said Friday.

    “I know we have the greater capability. I don't believe that they would be able to execute the same way they did the other day,” Director of the Joint Staff Lt. Gen. Douglas Sims told reporters, referring to the Houthis’ launch of more than 20 drones at missiles at the U.S. and other ships in the Red Sea earlier just days earlier

  • Hamas appears to show dead bodies of two hostages after warning Israel

    Hamas appeared to show the dead bodies of two Israeli hostages on Monday after warning Israel they might be killed if it did not stop its bombardment of Gaza.

    A new video released by the Palestinian militant group purportedly showed the bodies of Yossi Sharabi, 53, and Itai Svirsky, 38, who had appeared in an initial video on Sunday.

    It also showed a third Israeli hostage, university student Noa Argamani, 26, seemingly reading a script in front of a blank white wall, saying the two were killed by Israeli strikes.

  • Jada Fund of Funds Fuels Saudi VC system growth in 2023‎

    Jada Fund of Funds witnessed an unprecedented year during 2023, with a record commitment of SAR 1 billion across 10 funds. Since its founding, Jada has committed SAR 3.4 billion to 37 funds, propelling the Saudi VC investment vision to rank 1st in MENA for the first time ever. Jada Fund of Funds is a Saudi company based in Riyadh. It was launched based on a resolution of the Saudi cabinet. The company was established by the Public Investment Fund with an investment capital of SAR 4 billion (approximately USD 1 billion). The establishment of Jada is a critical component of Saudi Arabia’s Vision 2030 which includes developing a thriving venture capital, private equity and private debt system in Saudi Arabia.

  • Saudi Arabia’s Ministry of Media launches Horizon documentary on Netflix, about wildlife in the Kingdom

    The film, the latest production of the Konoz Initiative, aims to raise awareness of Saudi Arabia’s species richness and biodiversity and its distinctive geographical areas, and highlights the leading efforts exerted by the Kingdom to protect wildlife, preserve rare species, and acquaint the world with its various rich resources. The documentary showcases Saudi Arabia’s picturesque nature, its diverse plant and animal life, and the abundant riches of its lands.

  • Architect Releases Renders For Neom Airport City In Saudi Arabia

    Kalbod Design Studio, an Iran-based architecture studio, has released its concept for the Neom Airport City in Saudi Arabia, an airport that would serve the planned urban area of Neom. While the area already has an airport, Neom Bay Airport (NUM), the country plans to build another, NEOM International Airport (NIA), with Dallas, Texas, the United States (US)-based infrastructure consulting firm winning the contract to manage the project of NIA in March 2023.

  • Saudi Arabia announces major change to recruitment in Philippines, Sri Lanka, Bangladesh and 3 more countries

    The Ministry of Human Resources and Social Development recently announced a reduction in the maximum limits for recruiting domestic labour services in several countries, namely the Philippines, Sri Lanka, Bangladesh, Uganda, Kenya, and Ethiopia.
    This measure is aimed at ensuring fairness in recruitment costs and is part of the Ministry’s broader initiative to review applicable regulations and associated costs.