Saudi Arabia Promotes Investment Environment to Fund Cultural Projects

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)
TT

Saudi Arabia Promotes Investment Environment to Fund Cultural Projects

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia’s Cultural Development Fund launched a partnership with the private sector to bolster the investment environment in the cultural field and provide a crowdfunding opportunity for the first creative projects.

The partnership agreement was signed with Beehive company, which provides an inspiring environment for entrepreneurs and artists.

The Fund, which was established with a capital of half a billion riyals (about $133.32 million), seeks to support cultural development and its sustainability by allocating sustainable funding from the public and private sectors with optimal financing mechanisms to support cultural projects and ensure their success.

It seeks to boost crowdfunding opportunities and investment in the cultural sector to develop small and medium enterprises in an attempt to advance the cultural sector, develop promising cultural projects, and provide liquidity to revive the creative movement.

The Saudi cultural sector is preparing for a phase of thriving arts, culture and creative production, in line with investment plans in the sector and efforts to enhance its role in quality of life and sustainable economic development.

Head of Strategy and Partnerships at King Abdulaziz Center for World Culture (Ithra) Fatmah al-Rashid said the sustainability of cultural projects is one of the key challenges facing the sector.

Institutions are trying to address this challenge through many ways that ensure ongoing production, Rashid added.

She pointed out that the demand for the cultural products is greater than the supply, which requires efforts to develop initiatives and projects and encourage production and talents.

She further indicated that the Saudi institutions operating in the cultural field are expected to support the promising cultural sector, emerging talents, youth capabilities, and cultural and creative content.

She stressed that these efforts help in promoting the growth of the creative sector, expand its scope by creating jobs and providing an added value to the national economy and the innovation industry in line with the Kingdom’s Vision 2030 to transform into a knowledge-based economy.



Bird Flu Virus Shows Mutations in First Severe Human Case in US, CDC Says

Fest tube is seen labelled "Bird Flu" in front of US flag in this illustration taken, June 10, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
Fest tube is seen labelled "Bird Flu" in front of US flag in this illustration taken, June 10, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
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Bird Flu Virus Shows Mutations in First Severe Human Case in US, CDC Says

Fest tube is seen labelled "Bird Flu" in front of US flag in this illustration taken, June 10, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
Fest tube is seen labelled "Bird Flu" in front of US flag in this illustration taken, June 10, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

The US Centers for Disease Control and Prevention said on Thursday its analysis of samples from the first severe case of bird flu in the country last week showed mutations not seen in samples from an infected backyard flock on the patient's property.

The CDC said the patient's sample showed mutations in the hemagglutinin (HA) gene, the part of the virus that plays a key role in it attaching to host cells.

The health body said the risk to the general public from the outbreak has not changed and remains low, according to Reuters.

Last week, the United States reported its first severe case of the virus, in a Louisiana resident above the age of 65, who was suffering from severe respiratory illness.

The patient was infected with the D1.1 genotype of the virus that was recently detected in wild birds and poultry in the United States, and not the B3.13 genotype detected in dairy cows, human cases and some poultry in multiple states.

The mutations seen in the patient are rare but have been reported in some cases in other countries and most often during severe infections. One of the mutations was also seen in another severe case from British Columbia, Canada.

No transmission from the patient in Louisiana to other persons has been identified, said the CDC.