Bab Rizq Jameel Microfinance to fund Business Growth’s tech entrepreneurs

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Updated 02 November 2020
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Bab Rizq Jameel Microfinance to fund Business Growth’s tech entrepreneurs

With the purpose of financing and supporting entrepreneurs in domains that are considered vital for the labor market, Bab Rizq Jameel Microfinance has signed a memorandum of understanding with Business Growth, a business incubator and accelerator. Among the key fields targeted are creative technical projects and applications.

Business Growth is currently supervising 40 projects, 10 of which are in the technical fields and applications. Bab Rizq Jameel Microfinance will fund these enterprises as the institution attaches much importance to technical projects and applications and is keen to provide the necessary support and funding for the Saudi youth across the Kingdom. The aim is to enrich economic activity and provide more job opportunities in Saudi Arabia.

Abdul Rahman Al-Fehaid, executive director of Bab Rizq Jameel Microfinance, said that the cooperation between the institution and Business Growth underscored the company’s goals to support young people in creative fields and to provide more job opportunities in technical domains so as to harness existing potential and contribute to the digital transformation of the Kingdom.

“Bab Rizq Jameel Microfinance seeks to enter into more agreements and establish more companies in diverse spheres that would open new horizons for ambitious Saudi youth,” Al-Fehaid added.

Hamed Al-Zahrani, CEO of Business Growth, said: “We have the capacity to incubate 100 projects during a single cycle with fully equipped offices that provide services and programs for entrepreneurs and startups. It is a pleasure to cooperate with Bab Rizq Jameel Microfinance, which, since its establishment, has been trying to provide motivation, encouragement and facilitations for entrepreneurs to help them achieve success and expansion all over Saudi Arabia and abroad.”

Bab Rizq Jameel Microfinance is the first Saudi microfinance company licensed by the Saudi Arabian Monetary Authority.

With a wide range of branches across the country, the company runs multiple financing operations for micro-entrepreneurs as well as beneficiaries of the productive family and work from home programs. 

It is now easy to get the required financing either through the electronic portal www.brjmf.com or the nearest branch.


Tata Motors marks 30 years in Saudi Arabia, assures long-term commitment

Updated 16 November 2024
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Tata Motors marks 30 years in Saudi Arabia, assures long-term commitment

Tata Motors, India’s leading multinational automobile manufacturer with a presence in more than 40 countries, is celebrating 30 years of successful operations for its commercial vehicle business in Saudi Arabia. Since its foray into the market in 1994, Tata Motors has been a prominent player, supporting the Kingdom’s logistics and mass mobility sectors. With its current portfolio spanning more than 20 products across cargo and passenger mobility, Tata Motors has consistently introduced solutions that deliver a low total cost of ownership, enabling customers to achieve greater operational efficiency and higher profitability. To commemorate the milestone, Tata Motors will introduce new, state-of-the-art models at the upcoming Heavy Equipment and Trucks Show in Dammam, from Nov. 18-21.

Reflecting on Tata Motors’ journey and next phase of growth in Saudi Arabia, Anurag Mehrotra, head, international business, Tata Motors Commercial Vehicles, said: “Since our entry into the Kingdom three decades ago, Tata Motors has played an instrumental role in supporting key sectors through reliable, safe and efficient mobility solutions. Our commitment to delivering long-term value through a low total cost of ownership, reliable products, and a strong after-sales network continues to drive growth in the market. As the Kingdom prepares for accelerated infrastructure development and a growing demand for advanced mobility solutions, we look forward to supporting its evolving needs.”

Tata Motors offers customers comprehensive lifecycle management to ensure long-term reliability and performance through its official distributor Mohamed Yousuf Naghi Motors Co. This partnership provides customers with comprehensive after-sales support through a network of seven strategically located touchpoints through the Kingdom. It also includes access to modern service centers, trained technicians and easy availability of genuine spare parts, along with tailored service packages aimed at maximizing vehicle uptime and enhancing overall customer satisfaction.

Azeem Khan, brand director, Mohamed Yousuf Naghi Motors Co, said: “Our successful partnership with Tata Motors enables us to bring trusted Tata products to customers, assuring them of complete satisfaction as we work to keep their businesses moving forward. As we continue to support Tata Motors’ growth in the region, we remain committed to delivering the highest level of service to customers.”

Tata Motors offers a wide commercial vehicle portfolio globally, spanning sub-1-ton to 60-ton cargo vehicles and nine-seater to 71-seater mass mobility solutions. Backed by Tata Motors’ advanced R&D capabilities, these vehicles are robustly engineered and rigorously tested to suit local market requirements.


TDF reinforces Kingdom’s position as top global tourism hub

Updated 16 November 2024
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TDF reinforces Kingdom’s position as top global tourism hub

The Tourism Development Fund concluded its participation in the World Travel Market in London, reinforcing Saudi Arabia’s position as a leading global tourism hub, having highlighted the vast investment opportunities in the Kingdom’s tourism sector, a TDF press release said.

Over the course of the event, TDF engaged with top industry leaders, investors, and decision-makers from around the world to attract high-value foreign investments that align with the National Tourism Strategy and support Saudi Vision 2030.

As part of the Saudi Land pavilion, TDF showcased a diverse range of current and future projects boosting the Kingdom’s tourism sector, and highlighted its suite of innovative financing solutions and investment incentives.

These efforts were crowned with the signing of a memorandum of understanding with Dusit International, which focuses on developing luxury hospitality projects at key destinations across Saudi Arabia, offering guests unique and superior tourism experiences.

Throughout the event, TDF representatives provided in-depth briefings on the fund’s initiatives and achievements, and underscored TDF’s critical role in supporting tourism ventures and developing premier tourism destinations that align with Saudi Arabia’s long-term tourism vision.

The team also emphasized the significance of international collaboration, which is instrumental in building a sustainable tourism sector that benefits both investors and visitors.

In addition to promoting Saudi Arabia as a premier destination for tourism investments, TDF highlighted the Kingdom’s development to strategic partnerships in various sectors, particularly in hospitality and leisure tourism.

It reiterated its commitment to backing high-impact projects that will help achieve the Saudi Vision 2030 target of increasing the contribution of tourism to the national economy.

According to TDF, its participation in the World Travel Market is the culmination of its continuous efforts to make Saudi Arabia a top destination for tourism investment. It also reaffirms the fund’s commitment to supporting sustainable projects that expand the tourism offerings and services available to both visitors and investors, in line with the Kingdom’s ambition to become a global tourism powerhouse.


Diriyah bags two ‘Mostadam’ sustainability certifications

The announcement was made at Cityscape Global in Riyadh.
Updated 16 November 2024
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Diriyah bags two ‘Mostadam’ sustainability certifications

Diriyah Company has been awarded two prestigious Mostadam (Ajwad) certifications for sustainability by the Ministry of Municipalities and Housing. The dynamic mixed-use developer was recognized for the Northern Diriyah Area and the Ritz-Carlton Residences development projects. The announcement was made at the Cityscape Global real estate event themed “The Future of Living,” held in Riyadh from Nov. 11-14.

The certification — in line with the Kingdom’s Quality of Life Program — a central aspect of Vision 2030 — is granted to residential buildings and communities based on ratings that measure the sustainability of these projects. This is achieved by applying sustainability and quality of life standards, such as increasing green spaces, providing safe pathways for pedestrians as well as cyclists, and reducing water waste by reusing it for irrigating the gardens and green areas of the project.

The Ajwad initiative has registered 74 projects, with five Diriyah projects included under the program to date, of which two have successfully attained this highly sought-after certification:

  • Diriyah North (Masterplan certification — Diamond Level)
  • The Ritz Carlton Residences (Asset certification — Gold Level)

The remaining three projects are scheduled for certification next year.

Diriyah North achieved 86 points on the Mostadam certification scale for its masterplan, achieving Diamond level, the highest level of Mostadam certification. This accomplishment underscores Diriyah’s commitment to sustainability and enhancing the community’s quality of life. Additional Diriyah districts will apply for the Mostadam Diamond certification in the coming months. 

Diriyah North’s sustainability achievements include meeting 100 percent of irrigation demand by Treated Sewage Effluent, providing 46 percent shaded walkways for pedestrians, and dedicating 25 percent of the area to parks and open space.

Jerry Inzerillo, group CEO of Diriyah Company, said: “The Diriyah project is fully committed to sustainability. These latest accreditations are a significant endorsement of our dedication to employing the highest standards of environmental protection in construction and design, enabling us to deliver a brand-new concept in urban development with a unique people-first urban regeneration project for everyone to enjoy.”

The latest recognition follows a series of sustainability accolades recently awarded to Diriyah. Diriyah received LEED Platinum certification in 2023, for the first phase of the Diriyah masterplan, becoming the first project in the Middle East to achieve the highest level of certification at masterplan level. Additionally, the Wadi Safar masterplan received the region’s first SITES Gold pre-certification. Moreover, Bujairi Car Park and Samhan Car Park were also awarded Parksmart GOLD pre-certification in 2022 and 2023 respectively, for sustainability best practices.


King Hussein Cancer Research Award recipients honored

Updated 15 November 2024
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King Hussein Cancer Research Award recipients honored

Prince Talal bin Muhammad, deputizing for King Abdullah II, honored the awardees of the 2023 and 2024 King Hussein Cancer Research Award, in the presence of Princess Ghida Talal, chairperson of the King Hussein Cancer Foundation and Center.

In her speech, Princess Ghida said: “We established the King Hussein Cancer Research Award with a specific goal in mind: to launch Arab scientific initiatives that will be the cornerstone for regional advancement, and lessen our reliance on Western research. Tonight, we celebrate Arab scientists and researchers who have excelled in cancer research, honoring them as symbols of perseverance, creativity and innovation.”

Thirteen Arab medical scientists from across the world were selected from a pool of 472 researchers from more than 20 countries, in recognition of their influential contributions to cancer research.

2024 winners: Lifetime Achievement Awardees were Prof. Mohamad Mohty from Saint Antoine Hospital in France (International track), and Prof. Randah Hamadeh from Arabian Gulf University in Bahrain (Regional track). The Young Investigator Awardees included Dr. Bishoy Faltas from Weill Cornell School of Medicine in the US (International track) and Dr. Mohammad Abufaraj from the University of Jordan in Jordan (Regional track), and the Promising Researcher Grantees were Dr. Ola Sabet from the Children Cancer Hospital 57357 in Egypt and Dr. Adhari Al-Zaabi from Sultan Qaboos University in Oman.

2023 winners: Lifetime Achievement Awardees were Dr. Toni Choueiri from Dana-Farber Cancer Institute in the US (International track) and Prof. Ali Shamseddine from the Naef K. Basile Cancer Institute at the American University of Beirut in Lebanon (Regional track). The Young Investigator Awardees included Prof. Hatem Azim from Monterrey Institute of Technology in Mexico (International track) and Dr. Yacoub Yousef from KHCC in Jordan (Regional track), and the Promising Researcher Grantees were Dr. Hadeel Halalsheh from KHCC in Jordan and Dr. Hiba El-Hajj from the American University of Beirut in Lebanon. KHCC’s Hospital Based Health Technology Assessment Program received the 2023 Academic Program Excellence award.

The awards ceremony was attended by the award’s board of directors, which includes leading doctors, researchers, and oncologists from across the world, media figures, partners, and sponsors.


GWM celebrates 27 years in Middle East with key milestones

Updated 14 November 2024
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GWM celebrates 27 years in Middle East with key milestones

To celebrate its 27-year presence in the Middle East, GWM organized three major events in Saudi Arabia: GWM DAY at the Jeddah International Motor Show, GWM Partner Day for the Regional Dealer Conference, and GWM Family Day for the opening of its flagship store in Riyadh. 

The events highlighted GWM's strategic position in the region and its commitment to technological innovation, cooperation, and brand development.

GWM has been working with users and partners in the Middle East to build a promising future through diverse strategies and strong products.

On Oct. 29, GWM made a stunning appearance at the Jeddah International Motor Show.

In front of media, dealer partners, and over 200 guests, GWM's International President, Parker, launched the Home Care plan, highlighting GWM's commitment to treating the Middle East as home and prioritizing care and service for local users.

The flagship models — the GWM Tank 700 and the all new HAVAL H9 — gained attention, underscoring GWM's leadership in the off-road market.

Also, GWM set up an outdoor area for rugged off-roading and family outings, drawing many eager spectators and families.

At the Jeddah motor show, GWM held the Middle East and Africa regional Dealer Conference, attracting over 80 partners from the region.

Dealers engaged in in-depth discussions with GWM management about the brand's future development strategy and the importance of parts support and service operations in enhancing market share and brand reputation.

The following day, dealer representatives visited a 11,000-square-meter warehouse in southern Jeddah to learn more about the parts policies.

The warehouse ensures quick repairs and efficient after-sales service while serving as a key pillar of GWM's localized operations, reflecting its strong commitment to users.

Meanwhile, on Oct. 31, 2024, GWM held a grand opening ceremony for its flagship store in Riyadh, covering 6,000 square meters.

This store is GWM's largest in the Middle East and serves as a platform for deep interaction between the brand and its users.

GWM hosted the GWM Family Day at the flagship store, uniting users and guests to share their experiences with the brand.

Influencers from automotive, photography, and outdoor fields shared their journeys with GWM vehicles.

They also engaged users in an interactive quiz about the brand, strengthening the emotional connection with customers.

This event enhanced brand recognition and a sense of belonging, creating unforgettable experiences for users and fans.

Under the slogan "Go with Middle East, Go with More," GWM is building a stronger brand ecosystem.

The Jeddah motor show showcased GWM's robust products, the Dealer Conference advanced regional cooperation, and the opening of the Riyadh flagship store elevated the co-creation experience with users.

GWM looks forward to exploring new possibilities with Middle Eastern customers and sharing exciting journeys together.