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TELECOM-
China Telecom opened its Gulf branch in Riyadh, offering services including cloud-network solutions and 5G networks, according to a press release. The company also signed cooperation agreements with undisclosed local partners during the event, the release read.
REAL ESTATE-
Retal partners with subsidiary to develop 60 residential units in Jeddah: Retal Urban Development signed a SAR 112.7 mn contract with its subsidiary Building Construction Company to build 60 residential units in Jeddah’s Al Mohammedia district, it said in a disclosure to Tadawul. The project will take 30 months to complete and will be financed through existing facilities and off-plan sales.
STARTUP WATCH-
#1- PIF-owned Jada Fund of Funds invested an undisclosed sum in Seedra Ventures Fund II, according to a press release. The sector-agnostic venture capital fund will support early-stage companies in Saudi Arabia and the Mena region.
#2- STC’s InspireU accelerator program saw the graduation of 44 startups in its latest cohorts, state news agency SPA reported. The program has backed over 130 startups since it launched in 2015, including Mrsool, Zid, and Sary.
INTELLECTUAL PROPERTY-
The World Intellectual Property Organization (Wipo) member states adopted the Riyadh Treaty on Design Law, a move which aims to streamline the registration of designs — especially among small scale designers and MSMEs — by standardizing the registration criteria across all Wipo 193 member states, according to a statement from the UN agency.
TOURISM-
Al Ahlam Marine lands first marina operator license in Al Laith, Yanbu: Al Ahlam Marine Tourism became the first company to receive marina operator licenses in Al Laith and Yanbu from The Red Sea Authority, the authority said in a post on X.
