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Business

PIF’s Jada to Boost Saudi Arabia’s Startup Scene

CAIRO: Saudi Arabia’s startup landscape has received a significant push after a subsidiary of the Kingdom’s Public Investment Fund committed to investing in several venture capital vehicles. PIF’s Jada Fund of Funds Co. plans to invest an undisclosed amount in Bahrain-based Investcorp’s $500 million Saudi pre-initial public offering growth fund. The investment vehicle is exclusively focused on supporting a diverse range of companies based in Saudi Arabia during their pre-IPO stage.
sport

“Denver Nuggets’ Game 4 Win Against Miami Heat: Four Key Talking Points”

The Denver Nuggets achieved an impressive two-game sweep in South Beach on Friday night at the Kaseya Center against the Miami Heat, winning Game 4 with a score of 108-95. This victory gave them a commanding 3-1 lead in the NBA Finals. With only one more win needed, the Nuggets are on the verge of claiming their first-ever championship.
sport

Saudi team wins 5 medals in Nepal yoga contest

JEDDAH: In its first international competition, the Saudi national yoga team claimed five medals, including a gold medal, three silvers and one bronze medal at the 2nd Mt. Everest International Yoga championship. The contest was held from June 8 to June 10 in Katmandu, Nepal. Eight countries from South Asia including India, Bangladesh, Nepal, Bhutan, Pakistan, Afghanistan, Sri Lanka and Maldives took part in the competition.
News

US Lawmakers Aim to Stop State Bans on Foreign Property Purchases

A raft of states are looking to restrict property purchases by citizens of U.S. adversaries like China and Iran. Democrats in Washington are pushing back.

The post U.S. Lawmakers Seek to Preempt State-Level Bans on Foreigners Buying Property appeared first on The Intercept.

Justice

“DHS Report Links Cop City Protesters to Far-Right Activist Andy Ngo”

The intelligence report described the demonstrations as a “violent far-left occupation” — a phrase copied directly from an article by Ngo a day earlier.

The post DHS Intel Report on Cop City Protesters Cribbed Far-Right Activist Andy Ngo appeared first on The Intercept.

Business

Saudi Arabia partners with Brazilian firm to enhance food security

RIYADH: The Kingdom’s sovereign wealth fund-owned Saudi Agricultural and Livestock Investment Co. and South American firm Marfrig Global Foods SA have committed to buying shares in a potential new offering worth $900 million by BRF SA, Brazil’s biggest poultry producer.  BRF said in a bourse filing that SALIC offered to subscribe to 50 percent of the total offer or 500 million new shares.  Marfrig Global Foods SA, which owns 33 percent of BRF, pledged to buy the remaining 250 million shares, reported Reuters. 
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.
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