MUST-READS

• Saudi Arabia continues airdrops of food aid to Gaza

  Two planeload of food supplies landed in Jordan on Monday, on its way to distribute among the people of the Gaza Strip. The relief supply was airdropped in cooperation with the Jordanian Armed Forces to overcome the difficulties caused by the closure of the border crossings by the Israeli occupation forces.

• 224 fintech companies in Saudi Arabia by end of Q2 2024: Al-Jadaan

  Minister of Finance Mohammed Al-Jadaan said the number of fintech companies in Saudi Arabia reached 224 by the end of Q2 2024, surpassing the Financial Sector Development Program's (FSDP) target of 168 companies for the same period.

• Saudi Red Crescent on high alert as heavy rain falls on Makkah
  The SRCA urged citizens and residents to follow the instructions of the relevant authorities, exercise caution during bad weather, adhere to traffic safety rules, and avoid dangerous areas such as streams and rain pools. It encouraged people to report emergencies by calling 997.

• Saudi Arabia’s 24 Fintech conference kicks off in Riyadh, highlighting sector’s rapid growth and ambitious future

  The Saudi fintech sector has witnessed a remarkable trajectory since 2018, attracting $1.84 billion in venture capital investments, according to the General Authority for Small and Medium Enterprises, or Monsha’at. Over this period, 216 Saudi-based startups have received funding, directly employing more than 6,500 people.

• Saudi Syarah closes $60 million in a Series C round

  Saudi Arabia-based autotech Syarah has raised $60 million in a Series C round, led by Artal Capital, with participation from Elm, Impact46, Tawuniya, and Derayah Ventures, bringing the total investment to date to more than $82 million.

• Al-Jadaan unveils Saudi Arabia’s integrated strategy to accelerate digital transformation

  Addressing the first edition of the International Conference on Financial Technology, '24 Fintech, at the Riyadh Front Exhibition and Conference Center on Tuesday, he said that the Kingdom has adopted an integrated strategy aimed at enabling and accelerating the government's digital transformation efficiently and effectively. "Saudi Arabia has targeted, since the launch of Vision 2030, accelerating the pace of transformation to advance the digital economy, as well as to ensure the sustainability of its growth and keep pace with the rapid development in the world of technology," he said.

• Virgin Atlantic is launching daily flights from London to Saudi

  The UK airline will begin direct Virgin Atlantic Saudi flights to Saudi’s capital starting from Sunday March 30, 2025. The nonstop service will function directly from Riyadh to London Heathrow, taking around six hours and 50 minutes. Passengers will board the state-of-the-art A330neo, Virgin Atlantic’s newest fuel-efficient aircraft.

• Saudi fintech Malaa secures $17.3 million Series A

  Saudi Arabia-based fintech Malaa has closed a Series A funding round at $17.3 million, led by SNB Capital, with participation from Derayah Financial, Khwarizmi Ventures, Impact46, and WKN.

• Amendments to Saudi Labor Law

  With wide labor market input, and extensive benchmarking studies of other countries' labor laws and global practices, the Amendments aim to further align with Saudi Arabia's Vision 2030 by creating a more attractive work environment for employees; enhancing job security; protecting both parties' rights; developing human capital; and promoting training opportunities, among others.

• Shoura Council welcomes 19 new female members

  Among the 150 members, 30 are women, with 19 of them serving their first term in the council. This diverse group of newly appointed female members includes distinguished experts such as Dr. Arwa Al Rashid, Dr. Ishraq Rafaei, Dr. Amal Qattan, Dr. Amal Al-Hazani, Dr. Bushra Al-Hamad, and Dr. Taqwa Omar. Their inclusion reflects the growing recognition of women's expertise and leadership potential within the council.

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