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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Saudi VC investments post 244% jump to $584m in H1

By TRENDS Desk
July 20, 2022 10:28 am
  • MAGNiTT, a venture data platform, said that the Kingdom saw 79 deals in H1 2022, an increase of 36 percent compared to H1 2021
  • Fintech had the highest number of transactions with 17 deals, followed by logistics which had 12 deals, and e-commerce with eight deals, in H1 2022

Venture capital investments in Saudi Arabia have posted a staggering 244 percent increase to $584 million in the first half of 2022.

MAGNiTT, a venture data platform, said that the Kingdom saw 79 deals in H1 2022, an increase of 36 percent compared to H1 2021.

It said that 88 investors participated in funding deployed by Saudi startups, up by 126 percent in the first half of 2022 over H1 2021 as 42 percent of investors were from outside the Kingdom.

Fintech had the highest number of transactions with 17 deals, followed by logistics which had 12 deals, and e-commerce with eight deals, in H1 2022.

Saudi Arabia ranked the second largest venture capital market in the Middle East and North Africa region in terms of total transactions and funding.

 

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