Saudi agritech firm closes $2.55m in seed funding round
Saudi Arabia’s hydroponic farming sector is poised for a boost, as the Kingdom-based agritech startup Arable announces the successful closure of a $2.55 million seed funding round, led by undisclosed investors. The funding round attracted both institutional and private investors, with 90 percent of the capital coming from foreign investors. The funds will be allocated […]
Saudi Arabia’s FM announces landmark visit to Lebanon
DAVOS: Prince Faisal bin Farhan said on Tuesday in Davos he would visit Lebanon later this week, the first such trip by a Saudi foreign minister in more than a decade. He made the announcement during a panel on diplomacy at the World Economic Forum’s annual meeting in the Swiss resort town. The one-day trip on […]
Saudi economy minister speaks on global growth, US economic policies, Vision 2030
Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim on Tuesday said the Kingdom would continue to assess shifting US economic policies as it eyes more integration to help protect global trade. Alibrahim made the comments during a panel discussion at the World Economic Forum in Davos. Moderator Steve Sedgwick asked Alibrahim about US President […]
Saudi reserves at central bank grow to $450bn
Saudi Arabia’s reserves at the Kingdom’s central bank saw a 2.8 percent year-on-year rise to SR1.69 trillion ($450.31 billion) in November. These assets include monetary gold, foreign accounts, and special drawing rights — the International Monetary Fund’s reserve position. The latter category comprises currency and deposits abroad as well as investments in foreign securities and […]
Saudi Arabia qualifies 6 mining firms for Exploration Enablement Program
Saudi Arabia has chosen six local and international mining companies for its Exploration Enablement Program designed to boost investments and enhance the competitiveness of the sector. Royal Road, Ajlan and Bros Holding, and EV Metals Group were selected for this first phase of qualification, as well as Ma’aden, Gold and Minerals Co., and Al-Masane Al-Kobra Mining Co., […]