Latest news with #SAR
Leaders
5 hours ago
- Business
- Leaders
Saudi Arabia Leads MENA in VC Investment for H1 2025
Saudi Arabia retained its position as the top recipient of venture capital (VC) investment in the MENA region during the first half of 2025, according to the H1 2025 MENA Venture Investment Report by MAGNiTT. The Kingdom recorded a total VC investment of $860 million (SAR 3.2 billion), surpassing its full-year total for 2024. This milestone highlights the ongoing economic transformation driven by Saudi Vision 2030, which aims to diversify and strengthen the national economy. With 56% of the region's total VC funding in H1 2025, Saudi Arabia secured the largest share among MENA countries. The country also registered a record-breaking 114 VC deals during the same period, reinforcing its position as the region's most dynamic investment hub. These achievements underscore the Kingdom's growing appeal to investors and its progress toward building a vibrant, competitive business environment. Vision 2030 Driving Investment Growth Commenting on the report, Dr. Nabeel Koshak, CEO and Board Member at Saudi Venture Capital (SVC), credited government-led initiatives under Vision 2030 for the Kingdom's continued dominance in the regional VC landscape. He also emphasized that these efforts have been crucial in energizing the startup and VC ecosystem. 'At SVC, we remain committed to accelerating this momentum by encouraging private investors to support startups and SMEs,' said Dr. Koshak. 'This support is essential for fostering rapid, sustainable growth and achieving the broader goals of Vision 2030, including economic diversification and increased private sector participation.' Related Topics : KAUST Researchers Embark on Groundbreaking OceanQuest Expedition Around Africa Saudi Researchers Unveil Revolutionary Nanoplastic for Sustainable Street Lighting What is Research & Development? How Can You Implement It Effectively in Your Business? KAUST Accelerates Scientific Research with 67 Projects in AI, Cybersecurity, Bioinformatics Short link : Post Views: 26
Arab Times
10 hours ago
- Business
- Arab Times
Visitors Given 30 Days To Exit Saudi Arabia Under New Overstay Regulations
RIYADH, July 15: Saudi Arabia has introduced a landmark immigration reform aimed at curbing visa overstays through the launch of a 30-day grace period for visitors with expired visit visas. Effective since June 27, 2025, the new regulation enables overstaying individuals to exit the Kingdom legally within 30 days without incurring penalties. The grace period applies to all types of visit visas, including tourism, business, family visits, and Umrah permits. Travelers wishing to benefit from this facility must apply for an exit permit through the government's digital Absher platform, which facilitates a streamlined and transparent process. Applicants are required to settle any outstanding fines or fees before submitting their exit requests. Importantly, the grace period is strictly intended for final exit and does not allow visa extensions, changes in visa status, or re-entry during this window. Authorities have emphasized that failure to exit within the grace period will result in severe penalties, including fines up to SAR 50,000 (approximately USD 13,000), imprisonment for up to six months, and subsequent deportation. Employers or sponsors who fail to report overstaying individuals' departures face fines up to SAR 100,000. The Absher platform plays a crucial role in enforcing the new measures by providing real-time alerts on visa expirations, processing exit requests, and enabling applicants to monitor the status of their submissions. The reform reflects Saudi Arabia's commitment to modernizing immigration procedures while ensuring compliance with residency laws. Officials have urged all expatriates and visitors to adhere strictly to the new regulations to avoid legal consequences.
Syyaha
10 hours ago
- Business
- Syyaha
Saudi Arabia Maintains its First Rank Across MENA for Venture Capital Investment in H1 2025
The 'H1 2025 MENA Venture Investment Report' revealed that Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in H1 2025, witnessing a total VC deployment of $860 Million (SAR 3.2 billion), surpassing the total VC funding of 2024 (full year). This achievement reflects the development the Kingdom is witnessing in various economic and financial sectors in light of the Saudi Vision 2030 and its goals to strengthen the national to the report published today by the venture data platform MAGNiTT, the Kingdom captured the highest share of total VC funding in the MENA region in H1 2025, accounting for 56% of the total capital deployed in the region. The report also revealed that Saudi Arabia achieved a record number of 114 VC deals for the first half of 2025. This confirms the attractiveness of the Saudi market, enhances its competitive environment, and consolidates the strength of the Kingdom's economy as the largest economy in MENADr. Nabeel Koshak, CEO and Board Member at SVC, commented: 'The Kingdom's leading position in the VC scene in the region comes as a result of many governmental initiatives launched to stimulate the VC and startups ecosystem within the Saudi Vision 2030 programs. We at SVC are committed to continuing to lead the development of the ecosystem by stimulating private investors to provide support for startups and SMEs to be capable of fast and high growth, leading to diversifying the national economy and achieving the goals of the Saudi Vision 2030.' SVC is an investment company established in 2018. It is a subsidiary of the SME Bank, part of the National Development Fund (NDF). SVC aims to stimulate and sustain financing for Startups and SMEs from pre-Seed to pre-IPO through investment in funds and direct investment in startups and SMEs.
Time Business News
10 hours ago
- Time Business News
Safe, Comfortable & Affordable
Traveling between Makkah and Medina is more than just moving from one city to another — it's a sacred experience. Whether you're performing Umrah or simply visiting the holy cities, the taxi journey from Makkah to Medina offers flexibility, comfort, and the freedom to travel on your own time. In this complete guide, we'll walk you through everything you need to know about booking and enjoying a Makkah to Medina taxi. The Importance of a Comfortable Journey Between Two Holy CitiesSpiritual and Emotional Aspects of the Journey The trip from Makkah to Medina is filled with spiritual reflection. Many pilgrims use this time to recite Quran, make dua, or reflect on their experience. Avoiding Stress and Fatigue A comfortable taxi ride helps you avoid crowded buses or strict train schedules. This is especially important for families, the elderly, and those traveling with children. Distance and Route OverviewTotal Kilometers Between Makkah and Medina The distance is approximately 450 kilometers (280 miles). Travel Time by Taxi Most taxi rides take between 4.5 to 6 hours, depending on traffic and rest stops. Popular Highway Route Taken Taxis usually take Route 15, a well-maintained expressway that connects both cities. Why Choose a Taxi Over Other Modes of Transport?Compared to Buses Buses are cheaper but less flexible. They make multiple stops and often have longer travel times. Compared to Trains The Haramain High-Speed Train is fast but requires fixed booking times and early check-ins. Taxis offer door-to-door convenience. Compared to Private Rental Cars With taxis, you don't have to worry about driving, navigation, or Saudi traffic rules. You can relax and focus on your journey. Types of Taxi Services AvailablePrivate Taxis For individuals or families who want privacy and direct travel with no sharing. Shared Taxis Ideal for solo travelers looking to reduce cost by splitting with others. Luxury or VIP Transfers High-end sedans or SUVs with added comfort, professional drivers, and refreshments. Group and Family Cabs Vans or minibuses suited for large families or travel groups. Booking Your Makkah to Medina TaxiOnline Platforms Many services now allow booking via website or mobile apps, often with language support and payment options. Local Booking Agents You'll find these near major hotels or in Makkah's transportation hubs. Hotel Concierge and Front Desk Assistance Most hotels can arrange a reliable and trustworthy cab for you. Average Cost of a Taxi from Makkah to MedinaStandard Fare Range Private taxi: SAR 450 – SAR 700 Luxury taxi or VIP van: SAR 800 – SAR 1,200 Shared taxi: Around SAR 150 – SAR 250 per person Pricing Based on Vehicle Type and Group Size Larger vehicles cost more, but per-person price decreases with group travel. Extra Costs to Look Out For Toll charges (usually included) Extra luggage Stops or detours for Ziyarah What to Expect During the JourneyCheckpoints and Rest Areas There are a few security checkpoints where your ID or visa may be checked. Drivers usually stop once or twice for breaks. Food and Prayer Stops Common stops include restaurants, masjids, and clean restrooms along the highway. Safety and Comfort Features Air-conditioned cars, seat belts, and occasionally Wi-Fi or charging ports are available. Recommended Time to TravelBest Hours of the Day Travel early in the morning (before Fajr) or after Isha to avoid heat and traffic. Weather Considerations Summers in Saudi Arabia are hot. Traveling during cooler hours is always better. Choosing the Right Taxi CompanyWhat to Look For Licensed service Clear pricing Responsive communication Reviews and Reputation Always check Google reviews, travel forums, or ask hotel staff for recommendations. Customer Service and Support 24/7 support is a good sign of professionalism. Safety Tips for PilgrimsConfirm Identity of the Driver Ask for ID or booking confirmation when the cab arrives. Keep Valuables Secure Don't leave passports or money in the trunk. Share Travel Details with Loved Ones Send your live location via WhatsApp or keep someone informed. Real Pilgrim TestimonialsPositive Experiences 'We traveled in a clean van with a friendly driver who even played Quran recitations.' Lessons Learned 'One time, I didn't confirm the price and had to pay more at the end — always confirm!' Helpful Advice 'Pack snacks and a small prayer mat for rest stops.' Traveling With Families or GroupsFinding the Right Size Vehicle Request a van or SUV when booking if you're more than four people. Making the Ride More Enjoyable Download kids' entertainment, prepare snacks, and carry water. Kid-Friendly Tips Ask for a driver who can stop when needed and has space for child car seats. Comparison: Taxi vs Haramain TrainFeature Taxi Haramain TrainTravel Time 4.5 – 6 hrs 2.5 hrsFlexibility High Low (fixed schedule)Comfort Private, personal Shared, limited movementCost (avg) SAR 500+ SAR 150–250 (economy) Pickup/Dropoff Door-to-door Requires own transport Conclusion Booking a Makkah to Medina taxi is one of the best ways to travel comfortably between Islam's two holiest cities. Whether you're with family, in a group, or going solo, the flexibility, convenience, and peace of mind are unmatched. Plan ahead, book a reliable taxi, and enjoy every spiritual mile of your journey. FAQs How long is the taxi ride from Makkah to Medina? Usually between 4.5 to 6 hours depending on traffic and stops. Can I book a round-trip taxi? Yes, most services offer round-trip packages with a discount. Are English-speaking drivers available? Yes, especially with Umrah cab services and VIP transfers. Is it safe to travel at night? Yes, the highway is well-lit and monitored, but always use licensed drivers. Can I request a stop at a Ziyarah site on the way? Absolutely! Just mention it while booking, though there may be an extra charge. TIME BUSINESS NEWS
RTHK
11 hours ago
- Sport
- RTHK
HK beaten 1-0 by national team in E Asian championship
HK beaten 1-0 by national team in E Asian championship China come third in the tournament thanks to the 1-0 win, while Hong Kong, China finish fourth. Photo courtesy of the Football Association of Hong Kong, China Hong Kong, China, on Tuesday suffered a 1-0 defeat to the national team at an East Asian football tournament, meaning they finished last among four teams in the competition in South Korea. Midfielder Huang Zhengyu's shot from the right wing in the 20th minute was the difference in the tightly-contested affair at the EAFF E-1 Championship. China, ranked 94th in the world, came close to extending the lead later. A shot by striker Zhang Yuning hit the bar. Minutes later, winger Wang Yudong's effort from close range needed a finger-tip save by Hong Kong, China captain and goalkeeper Edmond Yapp, which then came off the post. The national team also had two goals disallowed. China's caretaker head coach, Dejan Djurdjevic, who only took over less than three weeks ago, said he's happy with the result. "We deserved to win... we scored one goal and after that, we had many, many good opportunities to finish [off] the game, we were unlucky," he said after the match. "The approach of the players was very good." Hong Kong, China's head coach Ashley Westwood said the tournament in South Korea was an eye-opening experience for his squad. "We're satisfied with the desire and commitment the players showed – obviously we're not satisfied with losing, we never are," he said. "We have to take lessons. We've improved throughout the tournament, we only conceded one goal [this time]." The SAR finished the tournament with three straight defeats, after losses of 1-6 to Japan and 0-2 to South Korea.
