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STARTUP WATCH-
Abu-Dhabi based asset management firm Gulf Capital will invest USD 25-70 mn per ticket into Saudi startups as part of its pledge to invest USD 100 mn over the next five years, Gulf Capital Managing Director Alvaro Abella told EnterpriseAM UAE. The private equity firm plans to invest in Saudi tech startups in the healthcare, healthtech, technology, fintech, energy, renewables, sustainability, and future economies sectors, to help them expand across the Kingdom and further their regional and global expansion.
E-COMMERCE-
The Trade Ministry unrolled a new assessment tool for online retailers using artificial intelligence in a bid to boost compliance and protect consumer rights, state news agency SPA reported on Friday. ُThe 11 approved standards for evaluation include highlighting commercial registry and VAT number on the homepage and documenting the online store with the Saudi Business Center (SBC). They also include a clear policy on exchange and refunds and handling customer complaints among others.
