EXPANSION-

AI-driven healthcare efficiency solutions provider Effy Healthcare opened its regional headquarters in Riyadh, according to a press release published on Thursday. Effy plans to invest about SAR 100 mn over the next three years in technology transfer, local partnerships, and upskilling workforce, while also creating over 100 specialized roles in the Kingdom.

About Effy Healthcare: Founded in 2017 and headquartered in New Jersey, Effy equips healthcare providers with AI-powered tools to enhance service delivery by integrating diverse data sources into unified systems.

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MINING-

The Industry and Mineral Resources Ministry opened three mining complexes for competition in Riyadh and Makkah, it said on X on Thursday. In Riyadh, the sites include a 2.5 sq km sand ore complex south of Al Dilam and a 15.2 sq km sand and overburden complex south of Al Haeer. Meanwhile, the Makkah offering features a 45.6k sq km sand and overburden complex in Al Jubayhah, Khulais. Applications will be accepted through the Taadeen platform from Sunday, 23 November to Thursday, 11 December.

TRADE-

The Saudi Export Development Authority has launched a new digital services platform for exporters, state news agency SPA reported yesterday, quoting Industry and Mineral Resources Minister Bandar Al Khorayef as saying during the Digital Government Forum in Riyadh. This digital platform will integrate government export services into a unified system, simplifying procedures for exporters and helping to accelerate national export growth, Al Khorayef said.

IN CONTEXT- Al Khorayef reiterated that investments in advanced technology, innovation, and AI are essential to accelerating industrial growth, citing the Future Factories program that targets automating 4k factories through collaboration with the private and international sectors.

DISPUTE WATCH-

The Appeal Committee for Resolution of Securities Disputes issued two final decisions against 24 investors and a real estate company for violating the Capital Market Law and its implementing regulations, the Capital Market Authority (CMA) said in a statement to Tadawul. In the first case, 23 investors were fined SAR 1 mn, banned from trading for a year, and ordered to return over SAR 1.2 mn in illegal gains earned through market manipulation conducted between January 2021 and August 2022. An unnamed female investor was fined SAR 74.9k, representing illegal gains in her profile linked to one of the convicted investors.

In the second case, Bandar bin Abdulrahman bin Hamdan Alghamdi and his real estate company were fined SAR 2.7 mn for operating securities business without a CMA license and advertising it on social media. Affected investors may file claims or seek contract rescission.

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