Aramco Talks: Not Your Typical Earnings Call—Energy Journal

Japan’s SoftBank Group’s ambitions to fund solar mega projects in places such as Saudi Arabia and India have fallen short of the projections or have …

Aramco Talks Financials; It’s Not Your Usual Earnings Call The Saudi national oil firm’s first-ever earnings call today isn’t just another chat with investors. It’s an important step in the corporate transformation of the world’s most valuable company. Saudi Aramco will go through its half-year earnings with analysts and journalists today at 9 a.m. Eastern. […]

Related Posts:

  • No Related Posts

Jollychic obtained AED 238.5 million C+ round of strategic investment funds from Middle East …

In 2018, Jollychic obtained the C-round financing investment led by Sequoia Capital. The company’s shareholders also included Junlian Capital, …

Recently, JollyPay, a payment platform of Jollychic obtained relevant payment licenses in the UAE, and it obtained online payment service qualification in Saudi Arabia. Based on mobile payments and e-wallets, JollyPay will drive high-speed growth of new business and form an independent portal to feed back the entire e-commerce ecosystem.

Founder and CEO of Jollychic, Mr. Arron Li said that Jollychic has been insisting on the core strategy of Glocal, (Global Mission and Local Commitment).

The new investment will drive Jollychic’s strategic initiatives to expand its segmentation, optimize its logistics system, and develop third-party payment platforms and e-wallets.It is worth mentioning that this round of funding from G42 Group is an important milestone for Jollychic to further strengthen localization. It has a special strategic and localized significant for the entire Middle East market, and it has far-reaching benefits for Jollychic to build an e-commerce ecologyand “no cash society” covering the Middle East region.

A report jointly released by Bain and Google predicts that the e-commerce market in the Middle East and North Africa (MENA) region will reach nearly $30 billion in 2022. The MENA region, especially the core six countries of the Middle East (GCC), is one of the regions with the highest Internet coverage in the world. However, the penetration rate of e-commerce in the region is only 2%, and the market structure is also scattered. The e-commerce market has huge potential to develop.

As a global cross-border e-commerce platform, Jollychic has been focusing on the Middle East market since 2014, combining China’s supply chain advantages, efficient integrated full-link logistics solutions, highly localized operations and leading big data artificial intelligence technologies through its e-commerce platform such as Jollychic, MarkaVIP and Dealy, which sells more than 200 major categories of fashion, electronics, home and beauty to the most dynamic mobile internet users in the region, providing customers with cross-border and diversified one-stop e-shopping services. It has quickly become one of the largest e-commerce platforms in the Middle East with the largest installed capacity in the Gulf. Currently, Jollychic has branches in the UAE, Saudi Arabia and Jordan.

In 2018, Jollychic obtained the C-round financing investment led by Sequoia Capital. The company’s shareholders also included Junlian Capital, Lanxin Asia, Ping An Ventures, CDH Investment, Dachen Venture Capital, Zhejiang Huarui and so on.

SOURCE Jollychic

Related Posts:

  • No Related Posts

Apple and Google should be ashamed of their part in an insidious Saudi Arabian app that even the …

Saudi Arabia is reforming a law which required women to receive permission for a man to get a passport or cross a border. The system made it difficult …

absher graphicAbsher

  • Saudi Arabia is reforming a law which required women to receive permission for a man to get a passport or cross a border.
  • The system made it difficult for abused women to flee the country as refugees — a situation highlighted by INSIDER’s reporting.
  • When a backlash came, and Apple and Google were pressured to stop hosting the app which Saudi men used to grant and rescind travel permission, they did nothing.
  • The tech giants have shown themselves to outsource moral decisions about their own platforms to the Saudi royal family.
  • The situation is not surprising, but that does not make it less of a disgrace.
  • Visit Business Insider’s home page for more stories.

On Friday morning, the government in Saudi Arabia announced that it would dismantle a small but significant part of the oppressive ‘male guardianship’ legal system that formally designates women there as second-class citizens.

According to officials, women will no longer require permission from a man in their family — their “guardian” — to receive a passport or to cross a border.See the rest of the story at Business Insider

Saudis lead as major investors of UK medical startup Babylon

… economy away from oil under a plan known as Vision 2030. It’s the largest investor in SoftBank Group Vision Fund, with a US$45 billion contribution.
Saudi Arabia’s Crown Prince Mohammed bin Salman is expanding the Saudi sovereign wealth fund away from its oil economy. (Reuters pic)

LONDON: Babylon Healthcare Services the fast-growing mobile medical consultation service, said it raised US$550 million to expand into the US and Asia.

The investment includes capital from new investors such as Saudi Arabia’s Public Investment Fund, and valued the company at more than US$2 billion, Babylon said in a statement Friday.

“We have seen significant demand from partners across the US and Asia,” said London-based Babylon’s founder and chief executive officer (CEO), Ali Parsa.

“While the burden of healthcare is global, the solutions have to be localised to meet the specific needs and culture of each country.”

Babylon was founded in 2013 and is one of a number of companies racing to create general diagnostic software.

Others include Ada, a startup with offices in Berlin and London that has launched a similar symptom-checker app to Babylon, HealthTap, in Palo Alto, California, and Your MD, a London startup that has created a health information app.

The UK’s National Health Service lets patients choose Babylon’s “GP in Hand” mobile consultation service as their official primary care provider, and the startup last year said its artificial intelligence software, in tests, can assess common conditions more accurately than human doctors.

In its statement, Babylon said it now delivered 4,000 clinical consultations a day.

Babylon has come under strong criticism from health practitioners.

Last year, Royal College of General Practitioners vice chairman Martin Marshall whom administers the exam Babylon’s AI sought to benchmark itself against, said no app or algorithm “will ever be able to do what a GP does.” The industry body also criticised the NHS for its partnering with the startup.

In addition to Saudi Arabia’s PIF, investors include existing backers Kinnevik AB and Vostok New Ventures.

The Saudi sovereign wealth fund is a central part of Crown Prince Mohammed Bin Salman’s effort to wean his country’s economy away from oil under a plan known as Vision 2030.

It’s the largest investor in SoftBank Group Vision Fund, with a US$45 billion contribution. Bin Salman is also PIF’s chairman.

Goldman Sachs International and Morgan Stanley & Co International advised the startup on the fund raise.

Saudis Lead $550 Million Investment in UK Startup Babylon

It’s the largest investor in SoftBank Group Corp.’s Vision Fund, with a $45 billion contribution. Bin Salman is also PIF’s chairman. Goldman Sachs …

(Bloomberg) — Babylon Healthcare Services Ltd., the fast-growing mobile medical consultation service, said it raised $550 million to expand into the U.S. and Asia.

The investment includes capital from new investors such as Saudi Arabia’s Public Investment Fund, and valued the company at more than $2 billion, Babylon said in a statement Friday.

“We have seen significant demand from partners across the U.S. and Asia,” said Ali Parsa, London-based Babylon’s founder and chief executive officer. “While the burden of healthcare is global, the solutions have to be localized to meet the specific needs and culture of each country.”

Babylon was founded in 2013 and is one of a number of companies racing to create general diagnostic software. Others include Ada, a startup with offices in Berlin and London that has launched a similar symptom-checker app to Babylon, HealthTap, in Palo Alto, California, and Your.MD, a London startup that has created a health information app.

The U.K.’s National Health Service lets patients choose Babylon’s “GP in Hand” mobile consultation service as their official primary care provider, and the startup last year said its artificial intelligence software, in tests, can assess common conditions more accurately than human doctors. In its statement, Babylon said it now delivered 4,000 clinical consultations a day.

Babylon has come under strong criticism from health practitioners. Last year, Martin Marshall, vice chairman of the Royal College of General Practitioners, which administers the exam Babylon’s AI sought to benchmark itself against, said no app or algorithm “will ever be able to do what a GP does.” The industry body also criticized the NHS for its partnering with the startup.

In addition to Saudi Arabia’s PIF, investors include existing backers Kinnevik AB and Vostok New Ventures.

The Saudi sovereign wealth fund is a central part of Crown Prince Mohammed Bin Salman’s effort to wean his country’s economy away from oil under a plan known as Vision 2030. It’s the largest investor in SoftBank Group Corp.’s Vision Fund, with a $45 billion contribution. Bin Salman is also PIF’s chairman.

Goldman Sachs International and Morgan Stanley & Co International Plc advised the startup on the fund raise.

To contact the reporter on this story: Nate Lanxon in London at nlanxon@bloomberg.net

To contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Colum Murphy

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

Related Posts:

  • No Related Posts