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The S&P 500 and Nasdaq rose for the fourth straight session on Monday as investors braced for heavy mega-cap gains later this week and an update on the Federal Reserve’s interest rate policy. Both indexes hit their highest levels in more than a week, marking the longest streak of gains since December. A rally in a few mega-cap stocks did most of the heavy lifting for the S&P 500, with Apple, Microsoft, Alphabet, Meta and Broadcom pushing the benchmark to the top. Apple, Meta, Microsoft and Tesla are scheduled to report quarterly results later this week, setting up a key…

Saudi Arabia-based enterprise data governance and management startup Governata has raised $4 million in seed funding to expand its AI-enabled data governance platform across Saudi Arabia and MENA. Participating in the round are Joa Capital, abtal.vc, Sanabil Accelerator by 500 Global, Sadu Capital, Plus VC, Hyperscope Ventures, A-Typical Ventures, and Plug and Play. Founded in 2025 by Khalid Almudayfir, Jehad Senan, and Djamel Mohand, the startup helps organizations build a compliant and trusted data foundation for enterprise and generative AI deployments. The funding will support product development, AI-driven decision-making enhancements, and regional expansion, with a focus on responsible and compliant…

Yesterday (Monday) evening, Moroccan Interpol officers in the Tangier Security Region succeeded in arresting a 34-year-old French national, considered one of Europe’s most wanted men, pursuant to an international arrest warrant. Investigation revealed that the detainee is wanted internationally under a Red Notice issued by Interpol and wanted by the French judiciary for his involvement in leading a European criminal network specializing in international drug smuggling in stolen vehicles. The gang he led therefore poses a real threat to European and international security.According to security information, this man is the leading element within the network, managing and planning smuggling operations…

Today, the average price of the Saudi riyal at the Central Bank of Egypt was 12.55 riyals when buying and 12.59 riyals when selling.The National Bank of Egypt has a buy price of 12.50 pounds and a sell price of 12.58 pounds. The Bank of Egypt has a buy price of 12.50 pounds and a sell price of 12.62 pounds, while the Bank of Alexandria has a buy price of 12.54 pounds and a sell price of 12.59 pounds.Commercial International Bank has a buy of £12.52 and a sell of £12.57, Abu Dhabi Commercial Bank has a buy of £12.24…

LONDON: The US dollar is once again under fire in the first turbulent weeks of 2026. This is because a variety of factors are increasing, including Washington’s desire for a weaker currency, prompting investors to reconsider their optimistic assumptions about a period of stability for the dollar. The dollar on Monday was heading for its biggest three-day drop against a basket of major currencies since last April, when President Donald Trump’s “Emancipation Day” tariffs caused a steep decline in U.S. assets. In his first year in office, Trump’s erratic approach to trade and international diplomacy, attacks on the Federal Reserve’s…

Flat6Labs hosted the 6th Demo Day of the Riyadh Seed Program (RSP) to commemorate the completion of the 6th accelerator cycle since the program’s inception in 2023. With support from F6 Ventures and support from the National Technology Development Program, the program has accelerated more than 60 startups, injected $17 million in seed funding and secured $38 million in recurring funding and co-investments. The program, led by Saudi Venture Capital Company with participation from Jada Fund of Funds and Riyadh Valley Company, has supported over 130 founders and contributed to the creation of over 440 jobs in Saudi Arabia. The…

Egyptian media sources have revealed that the family of the late artist Abdel Halim Hafez has filed an official lawsuit against the makers of “The White Nightingale”, accusing those responsible of insulting the artistic and historical biography of the Arab singing symbol and distorting its image to the general public.According to the details of the lawsuit, the family requested that the exhibit be discontinued, claiming that the exhibit misuses his artistic name without reference to his heirs or legal recognition, does not reflect the true facts of the late artist’s career, and contains dramatic treatment and undocumented events that affect…

The US dollar recorded a significant and surprising depreciation against the Egyptian pound in today’s trading, after a short period of modest waves of appreciation.According to statistics compiled by Al Arabiya Business, the highest exchange rate for the US dollar at Abu Dhabi Islamic Bank was 47.03 pounds for purchase and 47.13 pounds for sale.The lowest exchange rate for the US dollar at the Gulf Bank of Egypt and Abu Dhabi Commercial Bank was 46.85 GBP for purchase and 46.95 GBP for sale.The dollar exchange rate at the Central Bank of Egypt was recorded at 47.14 pounds for selling and…

XRG today announced that it will increase its stake in Rio Grande LNG, increasing its exposure to one of the world’s largest LNG export facilities located at the Port of Brownsville, Texas. This transaction further strengthens XRG’s position in the global LNG market and marks an important milestone in the implementation of its international gas strategy. XRG plans to increase its overall participation in Rio Grande by acquiring an additional 7.6 percent equity interest in Trains 4 and 5 of the Rio Grande LNG project from the BlackRock company’s Global Infrastructure Partners (GIP) acquisition vehicle. The transaction builds on XRG’s…

RIYADH — Saudi Arabia’s gross domestic product has more than doubled since the announcement of Vision 2030 and will reach 4.7 trillion riyad ($1.25 trillion) by the end of 2024, from 2.6 trillion riyad ($693 billion) in 2016, Investment Minister Khalid al-Falih said on Monday. Speaking at a government press conference in Riyadh, Al-Falih said the economic expansion reflects not only numerical growth but also fundamental structural reforms that have restructured the labor market and strengthened the competitiveness of the private sector. He said the Saudi economy has created 800,000 new jobs, highlighting the dynamism of emerging sectors and their…