Latest news with #Kingdom
Gulf Business
19 minutes ago
- Business
- Gulf Business
Saudi Arabia tops MENA with $860m VC surge in H1 2025
Image: Getty Images Saudi Arabia's venture capital ecosystem reached new heights in the first half of 2025, securing a record total VC investment of $860m (SAR3.2bn), according to the newly released ' The report highlights that Saudi Arabia retained its position as the top recipient of venture capital in the MENA region, accounting for 56 per cent of the region's total capital deployed. The achievement underscores the Kingdom's growing appeal as a VC destination, supported by a competitive investment landscape and its status as the region's largest economy. Deal activity also hit a new milestone, with Saudi Arabia recording 114 VC deals in H1 2025—a 31 per cent increase from the same period last year. This figure represents 37 per cent of all deals across MENA, marking the Kingdom's highest-ever share of regional deal flow. Sectors Sector-wise, e-commerce led the way in terms of capital raised, attracting $306m (SAR1.1bn) and accounting for 36 per cent of total VC deployment in the Kingdom. Fintech remained the most active sector by number of deals, with 30 transactions, representing 26 per cent of all VC deals during the first half of the year. Commenting on the report, Dr. Nabeel Koshak, CEO and Board Member of SVC, said: 'The steady growth of the Saudi VC ecosystem in recent years has enabled it to maintain its leading position in the MENA region and achieve a record VC funding and deal count in the first half of 2025. This growth directly results from the country's commitment to realising the Saudi Vision 2030, which emphasises fostering entrepreneurship and stimulating investment in startups from early to later stages.' Read: Established in 2018, SVC is a subsidiary of the SME Bank, which falls under the National Development Fund. The company plays a key role in supporting Saudi Arabia's startup and SME sectors by investing in private capital funds such as venture capital, private equity, venture debt, and private credit, along with direct investments in startups and SMEs at various growth stages.
Arab News
22 minutes ago
- Business
- Arab News
Saudi POS value holds above $3bn for 4th consecutive week
RIYADH: Hotel spending in Saudi Arabia surged by 2.1 percent in the week ending July 19, driving total point-of-sale transactions to SR12.19 billion ($3.25 billion), even as most other sectors saw declines. Total POS value remained above the $3 billion mark for the fourth consecutive week despite a 7.1 percent weekly drop, underscoring the resilience of consumer activity across the Kingdom, according to data from the Saudi Central Bank, also known as SAMA. The hotel sector recorded SR287.44 million in transaction value, with the number of transactions slipping 2.1 percent to 822,000, while overall POS transactions across all sectors declined 4.8 percent to 212.73 million. According to SAMA's bulletin, the clothing and footwear sector saw the largest decrease, dropping by 13 percent to SR719.45 million. Spending on communications ranked next, dropping 12.5 percent to SR102.94 million. Restaurants and cafes — the sector with the biggest share of total POS value — recorded a 6.9 percent decrease to SR1.79 billion, while the food and beverages sector saw a 6.6 percent decrease, totaling SR1.73 billion and claiming the second-biggest share of this week's POS. Spending on miscellaneous goods and services ranked third despite a 9.9 percent decline to SR1.36 billion. The top three categories accounted for approximately 39.9 percent of the week's total spending, amounting to SR4.88 billion. The smallest decline was seen in spending on building materials which decreased by 0.2 percent to SR330.02 million, followed by expenditure on transportation which saw a 0.6 percent dip to SR718.02 million. The health sector saw a decrease of 8.1 percent to SR740.27 million, while the furniture sector declined by 3.7 percent to SR265.57 million. Spending on jewelry dipped by 11.7 percent to SR269.61 million, followed by a 9.9 percent decrease in spending on recreation and culture. Geographically, Riyadh dominated POS transactions, with expenses in the capital reaching SR4.20 billion, a 6 percent decrease from the previous week. Jeddah followed closely with a 7.2 percent dip to SR1.76 billion, while Dammam ranked third, down 6.9 percent to SR582.99 million. Abha saw the smallest decrease, inching down 1.1 percent to SR207.48 million, followed by Makkah with a 4.5 percent decrease to SR507.03 million. Hail recorded 3.69 million deals in transaction volume, down 7.6 percent from the previous week, while Tabuk reached 4.16 million transactions, dropping 9.1 percent.
Argaam
an hour ago
- Business
- Argaam
SAB CEO sees no slowdown, pressure in Saudi Arabia's business sectors
Saudi Awwal Bank's (SAB) retail and corporate segments delivered strong results in the second quarter of 2025, Al Arabiya reported, citing SAB's CEO and Managing Director (MD) Tony Cripps. He emphasized that SAB sees no signs of slowdown or pressure across business sectors in the Kingdom. Cripps attributed the improved profitability during the quarter largely to effective cost management. The bank has not observed any distress in corporate client activity across segments, he said, noting that credit risk was limited to just one or two names among the bank's clients during Q2. The bank is currently comfortable with its capital levels, but future expansion will necessitate raising more capital. Thus, SAB intends to tap international markets again, with a growing focus on broader participation from Asian markets in upcoming financing rounds. SAB's CEO and MD pointed out that the bank was able to offset lower interest income with an increase in fee-based revenues, and that it focused on residential mortgages to stabilize interest returns. The bank also acted early in response to expectations of falling interest rates.
Argaam
an hour ago
- Business
- Argaam
Licensed foreign startups rise to 550 by mid-2025 in Saudi Arabia
The number of foreign startups licensed under the Entrepreneur license by the Ministry of Investment (MISA) in Saudi Arabia increased to 550 by mid-2025, marking a 118% growth compared to mid-2024. According to the Saudi Press Agency (SPA), the Small and Medium Enterprises General Authority (Monsha'at) issued 364 licenses for business incubators and accelerators across the Kingdom. The Entrepreneur license, issued by MISA for startups, is one of the Ministry's key initiatives designed to empower stakeholders within the entrepreneurship ecosystem. It enables both international and local entrepreneurs to easily establish their ventures in partnership with partners from around the world.
Hans India
3 hours ago
- Entertainment
- Hans India
Vijay Deverakonda New Film Update Description:
Kingdom, directed by Gautham Tinnanuri, is the upcoming movie of actor Vijay Deverakonda. The movie is produced by Naga Vamsi and Sai Soujanya under Sithara Entertainments and Fortune Four Cinemas. The movie is all set to hit theatres on July 31. The trailer will be released on July 26. A big trailer launch event will happen in Tirupati. The movie team shared a photo of Vijay with a Veera Tilak on his forehead. This picture is now going viral on social media platforms. Bhagyashree Borse is playing the female lead. Satyadev also has an important role. The story of the movie is about the bond between brothers. The teaser and songs released before have made fans excited. Anirudh is the music director of this movie.
