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Baseball United CEO Shaikh: Abu Dhabi and Dubai Franchises Elevate Us to New Heights

For Kash Shaikh, November cannot come quickly enough. The Chairman and CEO of Baseball United, the first professional league dedicated to baseball in the Middle East and Asia, last week signed partnership with the Emirates Cricket Board ahead of the organization’s competitive launch in five months’ time. Things are steadily falling into place for the Dubai-based league. Baseball United’s first showcase will involve four franchises facing off in four games, before an eight-team league follows a year later.

Business

GACA suggests economic rules to enhance aviation efficiency

RIYADH: Saudi Arabia’s aviation sector’s efficiency and competitiveness are set to receive a boost thanks to the new economic regulations that are likely to be introduced. The General Authority of Civil Aviation has put forward the draft economic regulations for airports on a survey platform between June 22 and July 20, according to a statement. The regulations aim to support the rapid growth of the sector, enhance passenger experience and ensure transparency and fairness.

Business

China announces $72 billion tax incentive for electric vehicles

RIYADH: China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles and other green cars, as it seeks to boost auto sales. Weakening sales growth in the world’s biggest auto market has raised concern over China’s economic growth and while financial support was widely expected after an earlier government pledge to promote the industry, shares in major automakers jumped after the details were released.

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Chaldean: Juddmonte’s New Trainer for Royal Ascot

LONDON: Trainer Andrew Balding is hoping Chaldean can notch up another win for Saudi-owned Juddmonte this season at Royal Ascot and continue the work started four decades ago by late founder Prince Khalid bin Abdullah. The Saudi businessman, whose son Prince Saud has taken up the Juddmonte reins, first tasted success at Ascot in 1979 when Abeer won the Queen Mary Stakes at the meeting.

Business

KAPSARC Secures Important UN Environment Program Position

RIYADH: Saudi Arabia will soon become an active partner in global ecological governance after the UN granted the King Abdullah Petroleum Studies and Research Center a key role in its environmental activities. According to a KAPSARC press note, the think tank will now be able participate in global energy, climate and environment dialogues, as well as adopt an observer status, after being handed a place in the UN Environment Program.

Business

Saudi fintech firm raises $3.2m in seed funding

RIYADH: EdfaPay, a Saudi-based fintech startup that helps companies use their smartphones for payment, has raised $3.2 million in a seed funding round. The funding round was led by Sanabil 500 MENA, Nufud Wealth International, Atmiid Investment, Basmah Commercial Investment, and a group of local and international angel investors. EdfaPay aims to utilize the capital to strengthen its operations in the Kingdom and expand to Pakistan and South American countries.

Business

Saudi Central Bank Certifies Tarabut Gateway for Open Banking

CAIRO: As part of its efforts to become a global fintech hub, Saudi Arabia has granted open banking certification to Dubai-based Tarabut Gateway. Following the approval from the Saudi Central Bank, also known as SAMA, the fintech company aims to intensify its operations in the Kingdom. Tarabut Gateway, the region’s leading regulated open banking platform, has become one of the early recipients of SAMA’s permit to carry out its operations in Saudi Arabia.

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Tag: granted

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