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Ittihad signs Portuguese winger Jota in ongoing summer spending spree

RIYADH: Saudi football team Al-Ittihad have confirmed the signing of Portuguese winger Jota from Celtic. The 24-year-old attacker joins French World Cup winners Karim Benzima and N’Golo Kante, who were both added to the team last month, in Jeddah as The Tigers’ bid to retain the Saudi Pro League title next season.  Jota, who completed a medical before signing on Monday, has agreed terms that will see him in yellow and black for the next three years. The financial details of the deal were not disclosed.
Business

Saudi Arabia seeks to enhance partnerships with Hong Kong and China

LONDON: Saudi Arabia is keen to strengthen its cooperation with Hong Kong and ultimately mainland China, the Kingdom’s minister of communications and IT said on Sunday. Speaking at the “One Gateway Shared Vision — Hong Kong x Saudi Arabia” event in the city, Abdullah Al-Swaha said closer collaboration would help boost the Kingdom’s Vision 2030 reform agenda, the South China Morning Post reported.
Business

Saudi stock market closes with modest gains as TASI increases by 35 points

RIYADH: On its first trading day after the Eid holidays, Saudi Arabia’s stock market saw a muted performance, with its Tadawul All Share Index rising 34.93 points — or 0.3 percent — to close at 11,493.91 points.   While MSCI Tadawul Index inched up 0.4 percent to 1,516.30 points, the parallel market Nomu fell 4.22 percent to close at 25,043.16.   The total trading turnover of the benchmark index was SR4.56 billion ($1.22 billion) as 143 of the 228 listed stocks advanced, while 60 retreated.  
sport

Juventus signs US winger Weah on five-year contract

TURIN, Italy: US winger Tim Weah completed a transfer to Juventus on Saturday, fulfilling a dream his father once had of playing for the storied Italian club. The 23-year-old Weah, who is the son of former FIFA Player of the Year and current Liberian President George Weah, signed a five-year contract with Juventus on the day the transfer market opened in Italy.
Business

VMS, Saudi Venture Studio, Acquires Stakes in Egypt’s Cash Cows

RIYADH: The startup ecosystem in the Middle East and North Africa region is poised to get a boost as Saudi Arabia-based venture studio VMS has acquired minority stakes in Egyptian startup accelerator Cash Cows.   The purchase of stakes is part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries and in the wider MENA region, according to a press release.  
sport

SAFF introduces innovative funding program for women’s football empowerment.

The Saudi Arabian Football Federation (SAFF) on Monday announced a funding initiative and support system for women’s football clubs.   This initiative is designed to “further enhance the rapidly growing women’s football leagues and the wider sport in Saudi Arabia, ensuring its sustainability and development for years to come,” a press release read.    SAFF’s funding program will provide vital financial assistance to the Saudi Premier League and Women's First Division clubs.  
sport

N’Golo Kante Joins Karim Benzema at Ittihad in Jeddah

RIYADH: French superstar N’Golo Kante has completed his transfer to Saudi side Al-Ittihad, the club announce early on Wednesday, and joins fellow Frenchman Karim Benzema in Jeddah. The team made fun of rumors around the deal being scuttled by medical issues  in a video skit on Twitter, showing the midfielder failing his medical before breaking the good news to fans.
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