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Saudi Arabia's Port of NEOM has installed its first fully automated, remote-controlled cranes at its Red Sea port, aiming for a 2026 launch. This development is part of a $500 billion project to create a global logistics hub, enhancing trade and industrial capabilities while supporting Vision 2030. The port is also investing in local talent, training Saudi workers, including women, for high-tech roles in logistics.
AstroLabs has partnered with Saudi Awaal Bank (SAB) to facilitate the expansion of international companies in Saudi Arabia, aligning with the Kingdom's Vision 2030 goals. This collaboration offers comprehensive support for market entry, company formation, and ongoing business development, enhancing the startup ecosystem and contributing to the private sector's GDP target of 65% by 2030.
Tahaluf and ewpartners are launching LEAP East, the Asia-Pacific edition of Saudi Arabia’s flagship technology event, in Hong Kong from July 8-10, 2026. This marks the first time LEAP will be held outside the Kingdom, aiming to connect over 25,000 attendees with industry leaders and innovators. The event is expected to enhance collaboration between the Middle East and Asia, reinforcing Hong Kong's role as a global innovation hub.
Newborn Town Inc. has launched its global headquarters at Hong Kong Science Park, marking a significant step in its expansion strategy. The company, which has seen remarkable growth in the MENA region, attributes its success to targeted market focus and innovative AI solutions that have driven substantial revenue increases. Despite strong financial performance, Newborn Town's market valuation remains low, suggesting a disconnect between its achievements and investor perceptions.
MENA startups raised $289 million in May 2025, marking a 25% increase from April, with Egypt leading the way due to Nawy's $75 million round. The UAE and Saudi Arabia followed with $86.7 million and $69 million, respectively, while AI funding fell short at $25 million. Early-stage investments dominated, with B2B models attracting $157 million, but the gender gap in funding persisted, with male-founded startups securing 82% of the total capital.
Saudi Aramco has reduced its official selling price for July crude oil to Asia, cutting the benchmark Arab Light crude by $0.20 to $1.20 above Oman and Dubai averages. This decision affects approximately 9 million barrels per day and serves as a pricing benchmark for regional producers. In North America, the price for Arab Light is set at $3.50 above the Argus Sour Crude Index, influenced by OPEC+ output increases and reduced Canadian production due to wildfires.
Saudi Digital Bank D360, backed by the Public Investment Fund, is preparing for a Series A funding round in the second half of 2025, targeting global investors, particularly from Europe and the US. The bank aims to expand services for SMEs and individuals, having already raised approximately $500 million from existing shareholders. With over 1 million users, D360 plans to grow its account holders to 4 million and is positioned to support Saudi Arabia's Vision 2030 economic diversification goals.
Kumulus Water, a Tunisia-based startup founded by Mohamed Ali Abid and Iheb Triki, has secured $3.5 million in seed funding to enhance its atmospheric water generation technology. The investment will facilitate the launch of the Kumulus Boks line, aimed at providing off-grid water solutions for industrial and community use in markets like France, Spain, and Saudi Arabia. The company’s self-contained Atmospheric Water Generators (AWGs) have already been deployed in various locations, addressing global water scarcity challenges.
EIGHTClouds has successfully completed a $20 million capital raise in just 11 months, driven by strong strategic interest and oversubscription. The funds will be used for strategic acquisitions in high-growth sectors like Food & Beverage and Hospitality, focusing on scalable concepts and No Exit Plan businesses across the GCC. The firm aims to enhance its involvement in consumer-facing businesses, leveraging favorable demographics and market conditions for long-term growth.
UAE’s EIGHTClouds has secured $20M to enhance its F&B and hospitality sectors, reflecting the Arab world's rise as a startup hub amid global uncertainties. The UAE leads globally in entrepreneurship for the fourth year, supported by reforms and a projected 4.7% GDP growth in 2025. Other Arab nations, including Saudi Arabia and Bahrain, are also making significant strides in fostering entrepreneurial ecosystems.
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neom port installs first automated cranes ahead of 2026 launch
14:54 07.06.2025
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