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LONDON: Bahraini and US companies signed a series of agreements worth approximately $17 billion, aimed at strengthening economic ties and advancing cooperation across key sectors, Bahrain’s state news agency BNA reported on Wednesday.

The deals span sectors such as aviation, technology, industry, and investment.

Among the agreements, Cisco Systems will provide digital solutions for Bahrain’s government information and telecommunications infrastructure. Separately, plans were announced to establish an 800-km, or 497-mile, multi-fiber submarine cable linking Bahrain, ��������, Kuwait, and Iraq to global networks, according to BNA.

Bahraini financial institutions and private-sector firms also announced plans to invest $10.7 billion in the US, while sovereign wealth fund Mumtalakat signed deals with several US companies to invest $2 billion in downstream aluminum projects, with a focus on job creation.

The signing ceremony took place during Bahraini Prime Minister and Crown Prince Salman bin Hamad Al Khalifa’s visit to Washington late on Tuesday.

He emphasized that expanding cooperation with the US could help create new economic opportunities through investment and collaboration.

In 2023, Bahrain and the US signed a security and economic agreement, and Bahrain continues to host the US Navy’s Fifth Fleet and the headquarters of the US Naval Forces Central Command.

RIYADH: �������� led venture capital activity in the Middle East and North Africa in early 2025, raising $860 million — a 116 percent annual jump — backed by sovereign support and foreign interest. 

In its latest report, regional venture platform MAGNiTT revealed that the Kingdom witnessed 114 deals in the first half of the year, marking a significant 31 percent rise compared to the same period in 2024. 

This comes on the back of a strong 2024 performance, when �������� retained its position as the most funded MENA country for VC for the second consecutive year. Startups raised $750 million, with a 34 percent increase in deal funding rounds below $100 million – dubbed MEGA deals – reflecting growing early- and mid-stage capital formation, according to a report released earlier this year by MAGNiTT and SVC. 

In its latest report for the first half, MAGNiTT stated: “This growth was supported by continued sovereign capital activity, event-driven momentum from LEAP, and early-stage programs backed by new funds and accelerators.” 

�������� ranked second among emerging venture markets in total VC funding, trailing only Singapore, which raised $1.28 billion across 120 deals in the first half. 

However, Singapore’s funding declined 37 percent year on year, while the number of deals dropped 31 percent. 

“The drop (in Singapore) signals a continued cooldown in late-stage deployment and foreign investor activity amid macro headwinds,” the report stated. 

Among emerging markets, �������� was followed by the UAE, which raised $447 million in funding in the first six months of the year, a rise of 84 percent year on year. 

The UAE also matched �������� in deal count, recording 114 deals, up 10 percent compared to the same period last year. This was driven by increased international participation, which reached its highest level in the Emirates since the first half of 2020. 

Elsewhere, Turkiye raised $226 million, followed by Vietnam at $216 million, Egypt at $185 million, and South Africa at $183 million. Nigeria raised $158 million, while Indonesia and Kenya secured $102 million and $71 million, respectively. 

The report further noted that fintech was the leading sector across all three EVM regions in the first half, accounting for 45 percent of VC funding in Southeast Asia, 38 percent in the Middle East, and 45 percent in Africa. 

“The bulk of this activity was concentrated in payment solutions and lending platforms, which emerged as the dominant fintech subsectors,” added the report. 

Meanwhile, mergers and acquisitions activity across emerging venture markets saw 55 transactions in the first half, marking a 31 percent increase compared to the same period last year.