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Saudi Arabia’s Loss-Making U.S. Investments: Buying Influence

Following Saudi Arabia’s purchase of the PGA Tour, a new Senate report revealed the dictatorship’s ballooning share of the American economy.

The post Saudi Arabia’s Huge U.S. Investments Lose Money — but Buy Influence appeared first on The Intercept.

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FBI Hires Social Media Surveillance Firm Labeling Black Lives Matter Organizers as “Threat Actors”

A new Senate report calls out the FBI for lying to Congress about its social media monitoring, pointing out the FBI’s hiring of ZeroFox.

The post FBI Hired Social Media Surveillance Firm That Labeled Black Lives Matter Organizers “Threat Actors” appeared first on The Intercept.

Business

UAE approves driverless cars

RIYADH: Self-driving cars will soon be on the UAE’s roads after the government approved a license for the company WeRide. The China-based firm will be able to test its vehicles in the country following an announcement by Sheikh Mohammed bin Rashid Al-Maktoum, vice president and prime minister of the UAE and ruler of Dubai. WeRide already has a presence in the country, as in 2022 it provided key software and hardware for the phase 1 trial of a self-driving taxi service in Yas Island, Abu Dhabi.

Business

“Bahrain invests $1.3bn in UK economy: Key deals signed”

LONDON: Bahrain has signed a memorandum of understanding for strategic investments and collaborations with Britain that will see the Gulf state’s private sector invest 1 billion pounds ($1.3 billion) in Britain, the Bahraini crown prince’s social media account said on Monday. The investments will be through Bahraini sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management.

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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 Communications Minister strengthens tech partnerships with China

RIYADH: In an effort to boost Saudi-Chinese relations, the Kingdom’s minister of communications and information technology, Abdullah Al-Swaha, began an official visit to China to meet government officials and leaders, the Saudi Press Agency reported. The minister held meetings with his Chinese counterpart as well as several other officials to enhance partnerships and attract more technological investments into the Kingdom.

Business

UAE startups secure funding for Saudi Arabia expansion

CAIRO: Digital logistics platform Transportr has successfully concluded its eight-figure seed funding round with the participation of Ittihad Ventures Holding and Industrial Capital Group. Established in 2020, the UAE-based company acts as a multimodal digital freight marketplace, connecting shippers and carriers across various industries to facilitate efficient, transparent, and cost-effective movement of goods. The platform addresses concerns such as freight rates, manual processes, enhanced visibility, traceability and customer service.

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