A 30 strong delegation of UK fintech companies and investors is heading to Saudi Arabia to capitalize on the Kingdom’s financial services reforms.
The Kingdom is now well on track to become a regional fintech leader © Mena Today
A 30 strong delegation of UK fintech companies and investors is heading to Saudi Arabia to capitalize on the Kingdom’s financial services reforms.
The mission, organized by the Saudi British Joint Business Council, will cover a three-day programme in Riyadh, and runs from Jan. 29-31.
The visit comes as Saudi Arabia continues to lead the way for attracting investment, and was first in the Middle East and North Africa region in volume of venture capital in 2023, with a 33 percent growth to a record total of $1.4 billion.
The Kingdom is now well on track to become a regional fintech leader, with the sector representing between 60-70 percent of early-stage deal flow.
Saudi Arabia began oil output cuts, becoming the latest Gulf producer impacted by the U.S. and Israeli war on Iran that has halted ship traffic in the region, sending crude prices up nearly 30% on Monday to $119 a barrel and prompting G7 countries to consider releasing emergency oil stocks.
Two people were killed and 12 injured after a projectile fell on a residential location in Saudi Arabia's Al-Kharj city on Sunday, the Saudi Civil Defense said.
Saudi Arabia has told Tehran that while it favours a diplomatic settlement to Iran's conflict with the United States, continued attacks on the kingdom and its energy sector could push Riyadh to respond in kind, four sources familiar with the matter told Reuters.
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