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Saudi Aramco has maintained its official selling prices for propane and butane for April at $615 and $605 per tonne, respectively. These liquefied petroleum gases are essential for heating, vehicle fuel, and petrochemical feedstock, with prices influenced by seasonal demand and supply dynamics. Last month, Aramco had reduced propane and butane prices by $20 per tonne.
Orascom Construction plans to reduce its projects in Egypt to a third by 2026, focusing on international expansion, particularly in the UAE and Saudi Arabia. CEO Osama Bishai emphasized the company's preference for foreign-funded projects and noted improvements in dues collection from government entities, despite ongoing local challenges. The firm is already engaged in significant projects abroad, including power plant expansions in Saudi Arabia and seawater treatment facilities in the UAE.
Valeo Health has secured $12 million in a Series B funding round, raising its total capital to $20 million. This investment will enhance its AI-driven at-home healthcare solutions across the KSA, UAE, and GCC, with a focus on personalized treatment plans using proprietary Longevity technology. CEO Sundeep Sahni emphasized the funding's role in scaling their technology and expanding their reach in preventive care.
Valeo Health has secured USD 12 million in Series B funding, led by Flintera, to expand its AI-driven personalized healthcare services across the GCC, including Saudi Arabia and the UAE. The funds will enhance product offerings and scale AI technology, aiming to provide proactive healthcare solutions. Founded by Sundeep Sahni, Nadine Karadag, and Ankur Majumder, Valeo focuses on health tracking, at-home tests, and personalized wellbeing coaching.
Valeo Health, a healthtech startup specializing in AI-driven personalized healthcare, has secured $12 million in its Series B funding round, bringing its total funding to $20 million. The round was led by Flintera, with participation from existing investors and new backers. The company plans to use the funds to expand its services in Saudi Arabia, the UAE, and other Gulf Cooperation Council countries. Founded by Sundeep Sahni, Nadine Karadag, and Ankur Majumder, Valeo offers at-home healthcare services and personalized treatment plans.
Tesla is set to launch its electric vehicles in Saudi Arabia, the Gulf region's largest economy, with an event scheduled for April 10. The showcase will feature its EV lineup, including demonstrations of the Cybercab autonomous driving technology and the Optimus humanoid robot. However, the market poses challenges, as electric vehicles currently account for just over 1% of total car sales in the country.
Lumi AI, a UAE-based startup, has raised $3.7 million in seed funding to enhance its conversational analytics platform, enabling businesses to transform complex ERP and supply chain data into actionable insights without technical expertise. The platform allows users to generate customized reports through natural language queries, addressing inefficiencies in traditional business intelligence tools. With a diverse customer base and plans for expansion, Lumi AI aims to redefine data accessibility and empower organizations to make faster, data-driven decisions.
Tesla is set to launch in Saudi Arabia with a showcase event in Riyadh on April 10, introducing its electric vehicles, solar innovations, and autonomous technologies, including the "Cybercab" and humanoid robot "Optimus." This expansion comes amid challenges in other markets, particularly Europe, where Tesla's sales have dropped significantly. Saudi Arabia is actively promoting electric vehicles as part of its economic diversification strategy, with the Public Investment Fund holding a major stake in competitor Lucid Group.
The Arab African International Bank plans to open a branch in Saudi Arabia, aiming to support the growing influx of Egyptian investments in the Kingdom. With regulatory approval from Egypt secured, the bank is seeking permission from Saudi authorities to cater to the financing needs of large-scale projects, which have attracted significant Egyptian investors. Currently, there are 6,830 Egyptian companies operating in Saudi Arabia, with investments totaling USD 18.7 billion.
Nissan's new CEO, Ivan Espinosa, aims to accelerate decision-making and model development to revitalize the struggling automaker, emphasizing a need for a more empathetic corporate culture. He plans to introduce new vehicles in 30 to 37 months and is open to partnerships beyond the auto industry, while showcasing a lineup that includes electric and hybrid models. Meanwhile, Saudi Arabia's telecom sector marks a milestone with the launch of its first live Cloud Radio Access Network site, enhancing 5G capabilities and supporting the Kingdom's digital transformation initiatives.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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