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DEBT WATCH-
PIF secures USD 10 bn financing boost for portfolio companies: The Public Investment Fund and Bpifrance Assurance Export signed a five-year MoU which will see the PIF and its portfolio companies bag USD 10 bn in financing, the sovereign wealth fund said in a statement.
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HOSPITALITY-
Saudi Arabia’s first seven-star hotel opens in AlUla: The Royal Commission for AlUla and General Hotel Management launched the 35-key Chedi Hegra hotel — the country’s first seven-star hotel — in AlUla’s UNESCO World Heritage site, according to a press release.
TOURISM-
The Saudi Red Sea Authority issued its first yacht rental licenses to three agencies — Hill Robinson Saudi Arabia, Faisal M. Haggi & Associates, and the Dubai-based JLS Yachts, state news agency SPA reports.
TRANSPORT-
The Kingdom’s first hydrogen-powered bus hit the road in Al Ahsa under a pilot phase the Transport General Authority launched, it said in a post on X. The 45-passenger bus will connect Al Ahsa to Dammam.
REMEMBER- The authority rolled out a pilot run for the Kingdom’s first hydrogen-powered taxi in October. It had also signed two MoUs on using hydrogen vehicles and sustainable mobility solutions.
MEDIA-
MBC + TikTok to collaborate on content creation: MBC Media will produce Arabic content for local audiences on TikTok under a newly-inked MoU between the two sides, according to a press release. Under the agreement, the MBC Group arm will create entertainment, lifestyle, and music content for TikTok to draw a wide range of audience to the online short-video sharing platform.
ALSO- MBC Media Solutions to act as TikTok’s official advertising partner in the Kingdom, under a separate MoU. MBC Group’s commercial advertising and sales arm will provide advertisers with access to TikTok’s inventory in Saudi Arabia through an advertisement reselling program. MBC Media Solutions was appointed as the official reseller of TikTok in Egypt last year.
STARTUP WATCH-
Homegrown government e-services startup AbiKhdmh (Google Play | App Store) raised SAR 3 mn in a seed funding round from undisclosed investors, according to Waya. The app plans to use the fresh funds to introduce new features, including flight booking, business services, and recruitment solutions. There’s no publicly available information about the startup closing prior funding rounds.
EDUCATION-
The Education and Training Evaluation Commission introduced new standards for evaluating special education schools and preschools, according to a statement. The new standards cover four key metrics — school management, teaching, learning outcomes, and school environment. The new standards can be viewed in detail on the commission’s website (pdf).
