Israeli Business in Saudi Arabia Emerges From Shadows at Investment Conference

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Israeli businessmen addressed Saudi Arabia’s flagship investment conference this week, a sign of Israel’s growing acceptance in the kingdom

On Thursday, the final day of the conference, the chairman of one of Israel’s top banks said he would like to invest in Saudi Arabia’s fintech industry.

Jonathan Medved, chief executive of online venture investing platform OurCrowd, was more direct. “We’re proudly from a little country just down the road called Israel,” he said in a panel that included two Saudis. Other Israelis, including a brother of former Israeli Prime Minister Naftali Bennett who runs an electric-truck company, and Jewish Americans were among some 7,000 attendees at the conference organized by the Saudi sovereign-wealth fund, whose chairman is Crown Prince Mohammed bin Salman.

Mr. Biden’s trip, which comprised Israel and Saudi Arabia, produced agreements allowing commercial planes expanded rights to fly from Israel over the kingdom and for Saudi Arabia to take full control of two strategic Red Sea islands.

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