Jordan

The Century Investment Group (CIG) is to establish a $30 million venture capital fund, to be known as the Crescent Fund, for projects in the Arab world. CIG chairman Omar Salah says the fund will support incubation projects, internet-related and other 'new economy' ventures. In comments at a technology conference in Beersheba in Israel on 16 May, Salah said he hoped that the Crescent Fund would become 'a major distribution arm for major internet and infrastructure companies seeking access to the Middle East'. He said that the fund would not be seeking investment from Israel but he hoped its hi-tech sector could provide benefits for the region.