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“Saudi Arabia and Slovenia Foster Trade Relations at WEF Event”

RIYADH: Trade and economic ties between Saudi Arabia and Slovenia are expected to improve following a meeting between the Kingdoms’ Minister of Economy and Planning Faisal Alibrahim and Slovenia’s Minister of Digital Transformation Emilija Stojmenova Duh.  The ministers held talks on the sidelines of the recent World Economic Forum summit in Tianjin, China. The pair discussed potential areas of cooperation between both countries and analyzed ways to address issues of common interest, according to the Saudi Press Agency.
Business

“Growing Venture Capital Scene in Saudi Arabia”

CAIRO: Silicon Valley-based investor Plug and Play Tech Center, renowned for its early investments in successful firms such as Dropbox and PayPal, is seeking to raise $100 million to support Saudi startups, Bloomberg reported.  The venture capital firm is in discussions with Jada, a $1 billion fund of funds established by Saudi Arabia’s sovereign wealth fund the Public Investment Fund, to collaborate on this initiative, Saeed Amidi, Plug and Play’s founder and CEO, stated. 
Business

“April imports to Saudi Arabia decrease by 16.1% to $15.4bn”

RIYADH: Saudi Arabia’s merchandise imports decreased 16.1 percent to SR57.9 billion ($15.4 billion) in April 2023 compared to SR69 billion in March 2023, according to the latest data released by the General Authority for Statistics.  However, the Kingdom’s merchandise imports increased by 1 percent in April 2023 compared to SR57.3 million in April 2022. According to the report, overall merchandise exports decreased 25.2 percent to SR103 billion in April 2023 compared to SR137.7 billion in the same month last year.
sport

Sharjah Self-Defense Dominates AJP Tour Dubai Championship

DUBAI: The first two days of the AJP Tour Dubai International Jiu-Jitsu Championship 2023 – Gi have been dominated by Sharjah Self-Defense Sports Club at Al-Nasr Club. Day one saw action in the infants and junior divisions, with Sharjah securing the top spot, followed by Palms Sports Academy in second place and ADMA Academy third. On day two, in the teens, youth and masters’ categories, Sharjah again took the lead, with Commando Group and A.F.N.T. in second and third respectively.
Business

Egypt seeks to join BRICS, confirms Russian ambassador

RIYADH: In a bid to enhance trade and economic cooperation, Egypt has officially applied to join the five-member BRICS bloc of emerging economies, according to Georgy Borizenko, the Russian ambassador to Cairo.  The BRICS group comprises Brazil, Russia, India, China and South Africa. “Egypt has applied to join the BRICS group because one of the initiatives that BRICS is currently engaged in is the maximum transfer of trade to alternative currencies, whether national or the creation of some kind of joint currency. Egypt is very interested in this,” said Borizenko. 
sport

“FIFA Forms Anti-Racism Taskforce with Vinicius as Member”

BARCELONA: FIFA will create an anti-racism taskforce in which Real Madrid forward Vinicius Junior will have a “prominent role,” the world football governing body said Thursday. Real Madrid winger Vinicius was racially abused by Valencia fans in May in an incident which provoked worldwide outrage, and has been the victim of multiple instances of racism during his time in Spain.
sport

Saudi Dr. Mubarak Al-Mutawa Joins ECOSEP Board as First National

RIYADH: Dr. Mubarak Al-Mutawa, Move Center for Sports Medicine’s executive director, has become the first Saudi to join the board of directors at the European College of Sports and Exercise Physicians. Al-Mutawa, in a media statement issued on Wednesday, said: “I am honored to have become a member of the board of directors of ECOSEP, which is a leading association at the European and international levels. “I am proud to represent my country, and to contribute in the advancement of the sports medicine sector.”
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