MUST-READS

• Saudi pension fund invests in Tabby as valuation tops $3bn

  Buy now, pay later (BNPL) operator Tabby has raised $160 million through a new funding round, more than doubling its valuation to $3.3 billion. The Series E financing round was led by Hong Kong-based investor Blue Pool Capital and Saudi pension company Hassana Investment Company, in addition to Saudi Technology Ventures and Wellington Management. Founded in Dubai in 2019, but with its headquarters in Riyadh since October 2023, Tabby was valued at $1.5 billion following its previous funding round in 2023. The fintech has almost doubled its annual transaction volumes to over $10 billion. It acquired Tweeq, a Saudi Arabia-based digital wallet, last September, expanding its product portfolio.

• Salesforce plans $500 million in AI-related investments in Saudi Arabia

  Cloud software seller Salesforce said on Monday that it plans to invest $500 million in Saudi Arabia related to artificial intelligence, as countries compete to secure investments in the nascent but critical technology. As part of the investment, Salesforce will introduce Hyperforce, its platform architecture delivered through a strategic partnership with Amazon Web Services, in the country.

• Saudi Arabia attracts $14.9 billion investments in AI as LEAP25 kicks off in Riyadh

  In his keynote speech, Alswaha emphasized that these significant investments and initiatives were made possible through the support and empowerment of Crown Prince and Prime Minister Mohammed bin Salman. These initiatives aimed to enable the technology sector and accelerate Saudi Arabia’s transition toward an innovative and sustainable AI-driven economy, in line with Vision 2030 objectives. Al-Swaha said that the region is witnessing rapid transformations in the digital economy sector, as it has grown by 73 percent to reach $260 billion, with Saudi Arabia accounting for 50 percent of this growth, making it one of the leading countries in this field. The number of technical specialists has increased from 150,000 to 381,000, reflecting Saudi Arabia’s rapid growth in the fields of technology and innovation. Al-Swaha highlighted the importance of bridging the digital gap between nations during what has become known as the “smart era,” and explained the role the Kingdom plays in empowering women in the field of technology. “In the smart era, the gap between the Global North and South will grow and worsen, as only one to two billion people are expected to join this exclusive club, while 6.5 billion people will be left behind by 2030.”

• UK student Salma al-Shehab released from Saudi prison, say campaigners

  Salma al-Shehab, a Leeds University doctoral candidate who was handed a decades-long sentence for her tweets in 2022, has been released from a Saudi prison, human rights groups have reported. Her supporters and advocates were celebrating the news on Monday but also highlighted the ordeal she had been through and called on the Saudi government to ensure she could travel freely. The UK-based human rights group Alqst, which has documented Shehab's case and advocated for her freedom, said she had been held arbitrarily for four years "on the basis of her peaceful activism". "Her full freedom must now be granted, including the right to travel to complete her studies," the organisation said.

• US Chamber of Commerce official discusses US-Saudi collaboration on AI policy

  In an exclusive interview with Arab News on the sidelines of the LEAP 2025 technology conference, Steve Lutes, vice president for Middle East affairs at the US Chamber of Commerce, stressed the importance of implementing clear policies that inspire investor confidence. “One thing that’s always at the core is to have the policy and regulatory environment that is going to give confidence and clarity to investors, risk-takers, and innovators,” Lutes said. He added that Saudi Arabia maintains an open-door policy in working with the US Chamber and industry leaders to shape its regulatory framework. “This will catalyze finance and fuel more investment, bring more innovation, and strengthen partnerships between the United States and Saudi Arabia in AI and across the broader economy,” he said.

• Saudi Arabia Gears Up to Host the Fourth Edition of the Saudi Media Forum 2025

  The Kingdom of Saudi Arabia is gearing up to host the fourth edition of the Saudi Media Forum 2025, set to take place in the capital, Riyadh, from February 19 to 21. This prestigious event reaffirms its status as the largest media gathering in the region and a global platform that unites top decision-makers, industry experts, and innovators in the media sector.

• Commentary: Why Saudi Arabia insists on a Palestinian state

  However, it is often overlooked that Saudi Arabia is not an emotional state and its policies are not based on reactive measures. Instead, the country operates according to a strategic vision that prioritizes its national security first and the broader Arab national security second. Consequently, Riyadh has not limited itself to narrow calculations but has instead considered the larger context of the Middle East. It recognizes the genuine threat posed by aggressive Israeli policies, understanding that the destruction of Gaza, assaults on the West Bank and the displacement of Palestinians will not lead to peace. Rather, these actions are likely to foster further extremism and violence, potentially creating a new generation that is willing to take up arms against Israel — not only within the Occupied Territories but also among sympathizers from various countries around the world, which could lead to wider conflicts.

• Chinese EV startup Rox Motor expands into Saudi Arabia

  Chinese electric vehicle (EV) startup Rox Motor has expanded into the Saudi market as it focuses its resources overseas. The company announced its official entry into the Saudi market with its all-terrain SUV (sport utility vehicle) Rox 01 at the LEAP 2025 event, which kicked off on February 9, according to a press release today. Rox Motor has secured more than 200 orders in Saudi Arabia and sales are ongoing, it said. The brand's flagship Saudi showroom on Khurais Road will open later this month.

• Saudi Arabia appreciates condemnations of Netanyahu proposal for Palestinian state in Kingdom

  Saudi Arabia has expressed its appreciation of the positions adopted by Arab and Islamic countries in condemning Israeli Prime Minister Benjamin Netanyahu’s proposal to ethnically cleanse the Palestinians and establish a state for them in the Kingdom. “The Kingdom values the positions that emphasise the centrality of the Palestinian issue to the Arab and Muslim countries,” said the Ministry of Foreign Affairs in Riyadh on Sunday. “This extremist, occupation mentality does not understand what the Palestinian land means to the people of Palestine and their emotional, historical and legal connection to it.” The ministry pointed out that such statements are rejected, and aim to divert attention from the Israeli occupation regime’s ongoing crimes against the Palestinians in Gaza, especially the ethnic cleansing.

• Golf Saudi ambassadors delivered excitement under the lights for home crowd at LIV Golf Riyadh

  Competing in front of the passionate home crowd, Golf Saudi ambassadors Dustin Johnson, Talor Gooch, Harold Varner III, Jason Kokrak not only showcased their skills on the green but also their commitment to developing golf in Saudi Arabia. By supporting grassroots programs, mentoring emerging talent, and promoting Saudi golf on the global stage, they are helping shape the future of the game in the country. Adding to the local presence, Khaled Attieh, one of Saudi’s newest professional players and a recently announced Golf Saudi ambassador, was selected as reserve for the 2025 season-opening LIV event. His participation further underscored Saudi’s growing impact on the sport, as he gained valuable experience among some of the world’s top golfers.

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