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Ninja, a Saudi quick commerce startup founded and led by Ebrahim Al-Jassim, the founder of HungerStation is in talks to raise fresh funds at a valuation of over $1 billion, Bloomberg reported on Tuesday.The round, according to the report, could be finalized and closed as early as this month, and is being led by Riyad Capital, the investment arm of Riyad Bank, one of Saudi Arabia’s largest banks.While it launched 1957 Ventures last year to focus on fintech, this investment will likely come from its main entity due to the round’s large size. The firm is is also behind Riyad…

Reuters/Daniel Kramer Even more to discuss this year: CERAWeek host Daniel Yergin and Saudi Aramco CEO Amin Nasser onstage at the 2022 event So, to Houston, Texas, for arguably the biggest event in the energy calendar: CERAWeek, the annual gathering of the world’s elite in oil and gas and – whisper it softly in the heartland of Big Oil – some renewable and alternative fuel sources too. Sometimes called “the oil man’s Davos”, CERAWeek 2025 is undoubtedly the place to be, with a US president pledging to “Drill, baby, drill” and rapidly shifting geopolitics potentially impacting all aspects of the…

Zhao Yuhang/China News Service/Alamy Live News Saudi minister of sports Prince Abdulaziz bin Turki Al Faisal during the closing ceremony of the 9th Asian Winter Games 2025 in China. Saudi Arabia is to host the games in 2029 The Saudi state oil giant Aramco took nearly everyone by surprise on Tuesday when it announced a cut in dividends.  As a result the Saudi government and the Public Investment Fund (PIF), which still collectively own 97.5 percent of the company, stand to receive $38 billion less in dividends in 2025 compared to the previous year. How many governments can absorb such…

RIYADH: Saudi Arabia’s corporate venture capital arms are playing a pivotal role in driving innovation and advancing economic diversification by aligning their investment strategies with both national and corporate objectives. Between 2020 and the third quarter of 2024, corporate investors accounted for 27 percent of the 1,361 unique investors in the Middle East and North Africa region, deploying approximately $380 million, according to a report by MAGNiTT. Saudi Arabia saw the highest ratio, with CVC’s making up 30 percent of local unique investors. Funds such as Aramco Ventures and stc’s tali ventures exemplify this dual-purpose approach. By leveraging their resources…

Reuters/Hamad I Mohammed A boxing match during the Light Heavy Championship held in Riyadh last month. Saudi Arabia is gaining ground as a major sports event host Plans have been formally agreed to create a new boxing league funded by Saudi Arabia.  In a deal reportedly worth $10 million, the country’s Public Investment Fund and TKO Group Holdings of the US – owner of the UFC and WWE combat sports series – will produce, promote and be responsible for the venture’s operations. In recent years, both the UFC and WWE have been regular visitors to the kingdom as the country…

Hey there, startup enthusiasts! There’s some exciting news coming out of the MENA region that we just have to share with you. Last month, startups in the area raised an impressive US$494 million—a staggering 457 percent increase compared to the same time last year. Let’s dive into the details!Regional Powerhouses: Saudi Arabia and the UAEIt turns out that the bulk of this growth came from just two countries. Saudi Arabia and the UAE together accounted for a whopping 92 percent of the total investment. Saudi startups alone secured about US$250.3 million spread across 25 deals, while the UAE followed closely…

Wikimedia Commons/Alexander Cook During Ramadan,consumers are particularly looking for brands that align with the values of charity and mindfulness that are central to the month Ramadan has long been a specialised period for brands in the Middle East, marked by an emphasis on community, reflection and charity.  Historically, marketing strategies centred on television commercials, aiming to engage families gathered for Iftar.  However, ongoing digitalisation has reshaped how brands approach the holy month. Marketers are now focused on using integrated advanced technologies and personalised content to resonate with contemporary audiences. While television remains a staple of Ramadan, especially with prime-time dramas…

Alamy/Gavin Hellier via Reuters Connect Construction workers erect scaffolding in Doha. Across the GCC, roads, railways, homes and hotels are being built Despite the uncertainty that characterised geopolitics last year, the GCC has emerged as a “beacon of resilience”, according to the 2025 Agility Emerging Markets Logistics Index. The Ti Insight report found that the core pillars of GCC members’ economic plans have remained intact through the disruption in the Red Sea, the conflict in Gaza, tensions with Iran, a change of regime in Syria and the war in Ukraine. In fact, Gulf states have increased their global influence, cementing ties…

Acwa Power Initiatives such as the Sakaka Solar Power Plant in Saudi Arabia signal a commitment to clean energy The GCC’s energy landscape is undergoing a profound transformation. As global economies shift towards sustainability, Saudi Arabia and the UAE are spearheading efforts to diversify energy sources while maintaining economic competitiveness. However a critical question remains: can taxation policies accelerate this transition and position the region as a global leader in renewable energy?  With Saudi Vision 2030, Saudi Net Zero 2060 and the UAE Energy Strategy 2050, fiscal policies are playing an increasingly important role in shaping investment incentives and market dynamics. …

Pexels/ThisIsEngineering Renewables such as solar power are creating an energy addition, not a transition, says historian Daniel Yergin It has long been apparent that the simplistic formulae of the extreme environmentalist camp – Just Stop Oil etc – are totally out of kilter with economic and energy reality, but now the energy realists can refer to a definitive piece of work when they seek to refute the absurdities. In 5,000 crisp words in Foreign Affairs magazine, Pulitzer prize-winning historian Daniel Yergin, along with financial expert Peter Orszag and energy strategist Atul Arya, lay bare the gigantic holes in the environmentalist…