SVC provides 75 startups with nearly $250m

• SVC has $750 million to invest and has deployed around $250 million thus far: CEO Nabeel Koshak
• The company is currently focusing on sectors that lack funding, such as the health and industrial sector: Koshak

Sukuk worth $174.6 billion issued globally in 2020

• The report said that as of December 2020, over 90 percent of the $648 billion Sukuk outstanding globally were issued from markets like Malaysia, UAE and the others
• Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021

Iraq looks up to IMF for $4bn loan

• International Monetary Fund and Baghdad opened talks last year amid the pandemic as demand shock sent oil prices tumbling
• Iraq also expected to sign agreement with French oil and gas company before current government’s term ends

Saudi Arabia gets a pat on the back from US

• It highlights the great progress made by the kingdom in its ‘investment and business climate’ over the past two years
• Efforts to provide more jobs for Saudis and diversify the economy raised some concerns in the annual Investment Climate Statements

Israeli foreign minister to visit Morocco

• Lapid’s visit comes after the first direct commercial flights between Israel and Morocco were launched in July
• Morocco was one of four Arab states to agree last year to normalize ties with Israel, along with the United Arab Emirates, Bahrain and Sudan

G7 blames Iran in deadly tanker attack, US releases ‘evidence’

• The UN Security Council also agreed to discuss the incident off the coast of Oman on Monday
• Iran has strongly denied having any link to the attack on the M/T Mercer Street

Burj Khalifa advertises upcoming Netflix series Navarasa

OIC panel urges cooperation in post-Covid affairs

• Member states urged to work alongside regional and international stakeholders to devise people-centered policies.
• Stress laid on cooperation with political, religious, and community leaders to foster universal human rights values.

Egypt to have covid vaccine galore

• Johnson & Johnson vaccine is being provided in cooperation with the African Union
• As part of the health ministry's plan to expand the provision of vaccines, it is scheduled to receive the Pfizer vaccine later this month

SABIC’s net profit shoots up to 2.04bn

• Net profit jumped 57 percent to $2.04 billion in Q2
• Selling prices increased 10 percent, sales volumes rose 3 percent