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Red Sea Fund Launches 2nd Phase of 4th Cycle to Support Production Projects

Red Sea Fund Launches 2nd Phase of 4th Cycle to Support Production Projects
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Red Sea Fund Launches 2nd Phase of 4th Cycle to Support Production Projects

Red Sea Fund Launches 2nd Phase of 4th Cycle to Support Production Projects

The Red Sea Fund announced the launch of the second phase of its fourth cycle, dedicated to supporting projects in the production stage, which will continue until April 30.
The fund now accepts applications from directors of Arab and African origin and nationality. This includes feature-length fiction projects (minimum length of 60 minutes), documentaries, and animation projects, SPA reported.
The Red Sea Fund supports film projects that are ready for production, including feature films (no less than 60 minutes), whether fiction or animation, by Arab directors or those of Arab origin or African nationality. The fund also supports series (25-59 minutes per episode) by Arab directors or those of Arab origin or African nationality, in addition to short films (less than 60 minutes), whether fiction, documentary, or animation, by Saudi directors.
The Red Sea Fund, a leading force in the world of Arab and African film financing, operating through four cycles to support projects in the development, production, and post-production stages.

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Labubu Toy Sculpture Sold for $150,000 at China Auction

A human-sized Labubu figurine is displayed before an auction in Beijing, China June 6, 2025. REUTERS/Tingshu Wang
A human-sized Labubu figurine is displayed before an auction in Beijing, China June 6, 2025. REUTERS/Tingshu Wang
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Labubu Toy Sculpture Sold for $150,000 at China Auction

A human-sized Labubu figurine is displayed before an auction in Beijing, China June 6, 2025. REUTERS/Tingshu Wang
A human-sized Labubu figurine is displayed before an auction in Beijing, China June 6, 2025. REUTERS/Tingshu Wang

A Beijing auction house has sold a four-foot-tall sculpture of a viral plush toy character for more than $150,000, as global demand for the Chinese-designed Labubu dolls reaches fever pitch.

The rabbit-like figures sporting mischievous grins began as a character created by Hong Kong-born artist Kasing Lung, and are made by Beijing-based toy brand Pop Mart.

They have been endorsed by celebrities such as Rihanna and Dua Lipa, and fans have queued overnight outside stores hoping to snag one, with analysts pointing to the phenomenon as evidence of China's growing soft power, AFP reported.

On Tuesday, a teal sculpture depicting a Labubu character with a furry body and head fetched an eye-watering 1.08 million yuan ($150,260) at an auction held in Beijing, according to the auction house's app.

The sculpture is "the only piece of its kind in the world", according to Yongle International Auction.

It was offered alongside other Labubu paraphernalia including a brown statue that sold for 820,000 yuan.

Pop Mart has over 400 stores globally, including 30 US branches.

The worldwide frenzy has seen people go to desperate lengths to acquire their own Labubu.

Last month a London branch of Pop Mart suspended in-store sales of the toys, fearing violence from would-be buyers who failed to get their hands on the limited-edition Labubus.

In Singapore, CCTV footage captured a family stealing Labubu dolls from a claw machine, according to Singaporean online media outlet AsiaOne.

Burglars broke into a store in California last week and took several Labubu dolls along with electronics and other valuables, American news outlet ABC reported.

In China, the toys have been promised as freebies for new bank customers -- an incentive quickly shut down by local regulators, according to Chinese media reports.

The toys have spawned a booming resale market as well as an online community of fans sharing tips on how to customize their dolls.

Knockoffs -- many of which are also made in China -- have flooded online platforms, dubbed "Lafufus" by social media users.