SDB wins award for empowering Saudi women entrepreneurs

At the World SME Finance Forum 2024 in Brazil, SDB was named as the Best Financing Institution for Women Entrepreneurs in the MENA region.
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Updated 23 September 2024
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SDB wins award for empowering Saudi women entrepreneurs

Saudi Arabia’s Social Development Bank has been honored with the prestigious Platinum Award as the Best Financing Institution for Women Entrepreneurs in the Middle East and North Africa region during the World SME Finance Forum 2024. The forum, held in São Paulo, Brazil, from Sept. 16 to 18, ran alongside the G20 events, emphasizing efforts to build a comprehensive and sustainable global economy.

This award serves as an international recognition of SDB’s commitment to empowering Saudi women in the entrepreneurial sector. Through innovative financing solutions, SDB has significantly contributed to fostering equal opportunities in the labor market, financing small and micro enterprises led by women, and supporting the achievement of sustainable development goals.

SDB’s win at the World SME Finance Forum is a testament to its role as a leading financial institution in the region, continuing its leadership in empowering female entrepreneurs and supporting pioneering projects. This accolade builds on SDB’s previous recognition at the World SME Finance Forum in India last year, where it was honored for its outstanding work in financing female entrepreneurs.

SDB plays an important role in strengthening Saudi Arabia’s national economy, aligning with Saudi Vision 2030 by focusing on promising sectors such as technology and electronic gaming. By enabling innovation and promoting national exports, the bank has cemented its position as a key driver of economic growth. In the first half of this year alone, SDB provided SR4.6 billion ($1.2 billion) in financing, benefiting approximately 70,000 citizens across the Kingdom.

The World SME Finance Forum is a platform dedicated to improving access to finance for small and medium enterprises, with a focus on digital innovations such as fintech and artificial intelligence. These technologies help SMEs access fair financing, reduce financial risks, and support their sustainable growth on a global scale.


Saudi health care investor Burjeel Holdings partners with US-based Axiom Space for space medical research

Updated 25 September 2024
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Saudi health care investor Burjeel Holdings partners with US-based Axiom Space for space medical research

In a significant milestone for both global healthcare and space exploration, Burjeel Holdings, a leading healthcare investor in Saudi Arabia, has announced a partnership with Axiom Space, a global leader in human spaceflight services. The partnership, unveiled at New York’s iconic Times Square, is set to push the boundaries of medical research and innovation by leveraging the unique environment of space to study how the human body reacts in microgravity.

This long-term collaboration with Axiom Space, renowned for its comprehensive missions to the International Space Station, will focus on space-based medical research. As their first initiative, Axiom Space and Burjeel are working on sending a suite of medical capabilities to space to further science research on how the human body reacts in microgravity. The suite consists of best-in-class technologies used in hospitals and clinics around the world, including Burjeel Holdings’ flagship facility Burjeel Medical City in the UAE. The research seeks to study how the microgravity environment affects relevant biomarkers, drug substance quality, and remote health services.

Axiom Space astronauts intend to wear and operate these technologies remotely throughout their training, launch, and during Axiom Mission 4 (Ax-4), which is scheduled to launch next spring. The insights gained from this research are expected to pave the way for innovative healthcare solutions that could benefit patients worldwide, including those in Saudi Arabia.

“Through our groundbreaking partnership with Axiom Space, we are not only advancing the frontiers of medical innovation in microgravity but also ensuring that patients around the globe benefit from next-generation healthcare solutions. Just as we continue to benefit from innovations born from space missions over 50 years ago — transforming everything, from telecommunications to medical imaging — this partnership represents a commitment to leveraging the unique environment of space to develop and enhance treatment methodologies,” said Dr. Shamsheer Vayalil, founder and chairman of Burjeel Holdings.

Dr. Lucie Low, chief scientist at Axiom Space, highlighted the significance of the partnership with Burjeel Holdings, noting how Axiom Space is creating opportunities for organizations worldwide to conduct medical research in space.

“We are reimagining how humans live and work in low-Earth orbit by utilizing microgravity to deepen our understanding of the human body. At the same time, we are educating the global community on how to harness the microgravity environment for scientific and technological advancements that benefit humanity,” said Dr. Low.

Since its 2022 expansion plans, Burjeel Holdings has rapidly advanced in Saudi Arabia, successfully launching PhysioTherabia, a network of physiotherapy, wellness and rehabilitation centers, with plans to open 60 centers by 2025. Additionally, Burjeel is set to launch two Specialized Day Surgery Centers in Riyadh, reinforcing its commitment to elevating healthcare standards in the Kingdom. 


Saudi health care investor Burjeel Holdings partners with US-based Axiom Space for space medical research

Updated 25 September 2024
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Saudi health care investor Burjeel Holdings partners with US-based Axiom Space for space medical research

In a significant milestone for both global healthcare and space exploration, Burjeel Holdings, a leading healthcare investor in Saudi Arabia, has announced a partnership with Axiom Space, a global leader in human spaceflight services. The partnership, unveiled at New York’s iconic Times Square, is set to push the boundaries of medical research and innovation by leveraging the unique environment of space to study how the human body reacts in microgravity.

This long-term collaboration with Axiom Space, renowned for its comprehensive missions to the International Space Station, will focus on space-based medical research. As their first initiative, Axiom Space and Burjeel are working on sending a suite of medical capabilities to space to further science research on how the human body reacts in microgravity. The suite consists of best-in-class technologies used in hospitals and clinics around the world, including Burjeel Holdings’ flagship facility Burjeel Medical City in the UAE. The research seeks to study how the microgravity environment affects relevant biomarkers, drug substance quality, and remote health services.

Axiom Space astronauts intend to wear and operate these technologies remotely throughout their training, launch, and during Axiom Mission 4 (Ax-4), which is scheduled to launch next spring. The insights gained from this research are expected to pave the way for innovative healthcare solutions that could benefit patients worldwide, including those in Saudi Arabia.

“Through our groundbreaking partnership with Axiom Space, we are not only advancing the frontiers of medical innovation in microgravity but also ensuring that patients around the globe benefit from next-generation healthcare solutions. Just as we continue to benefit from innovations born from space missions over 50 years ago — transforming everything, from telecommunications to medical imaging — this partnership represents a commitment to leveraging the unique environment of space to develop and enhance treatment methodologies,” said Dr. Shamsheer Vayalil, founder and chairman of Burjeel Holdings.

Dr. Lucie Low, chief scientist at Axiom Space, highlighted the significance of the partnership with Burjeel Holdings, noting how Axiom Space is creating opportunities for organizations worldwide to conduct medical research in space.

“We are reimagining how humans live and work in low-Earth orbit by utilizing microgravity to deepen our understanding of the human body. At the same time, we are educating the global community on how to harness the microgravity environment for scientific and technological advancements that benefit humanity,” said Dr. Low.

Since its 2022 expansion plans, Burjeel Holdings has rapidly advanced in Saudi Arabia, successfully launching PhysioTherabia, a network of physiotherapy, wellness and rehabilitation centers, with plans to open 60 centers by 2025. Additionally, Burjeel is set to launch two Specialized Day Surgery Centers in Riyadh, reinforcing its commitment to elevating healthcare standards in the Kingdom. 


stc, Cisco partner for Esports World Cup

Updated 25 September 2024
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stc, Cisco partner for Esports World Cup

Cisco and stc Group have worked together to deploy innovative digital experience assurance technology to support the Esports World Cup, a multi-genre esports competition, hosted for the first time in Saudi Arabia. The inaugural event ran from July 3 to Aug. 25 at Boulevard City in Riyadh.

In collaboration with stc, the exclusive connectivity provider for the event, Cisco introduced an end-to-end digital experience assurance solution powered by Cisco ThousandEyes and Cisco Provider Connectivity Assurance (formerly Accedian Skylight). The solution provided stc with real-time visibility into every aspect of the digital experience delivery, including a unified view of end-to-end network performance and AI-powered issue detection.


Mahindra & Mahindra partners with Eram Skills Academy

Updated 24 September 2024
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Mahindra & Mahindra partners with Eram Skills Academy

Mahindra and Mahindra, one of India’s leading automotive manufacturers, in partnership with Eram Skills Academy, a unit of Middle East-based business conglomerate Eram Holdings, inaugurated a new skills development program at the ASAP Community Skill Park in Kunnamkulam, Kerala. The program will upskill youth in the rapidly expanding automobile sector, providing much-needed technical expertise and employment opportunities.

The ceremony to officially open the center was led by Pavan Kumar, vice president of Mahindra and Mahindra. Seetha Ravindra, municipal chairperson, launched the state-of-the-art lab facility. Guests at the event included Dr. Siddeek Ahmed, chairman and managing director of Eram Group; K. Ravi, technical head, Mahindra and Mahindra; Pratyush Bose, zonal customer care head, Mahindra and Mahindra; and Lt. Cdr. Sajith Kumar E.V. (Retd.), head of ASAP Community Skill Park.

India, one of the largest automobile markets in the world, is witnessing a rapid expansion of the industry. With the increasing number of vehicles on the road and advancements in automotive technology, there is a significant demand for skilled automobile technicians. It is estimated that India currently faces a shortfall of more than 500,000 skilled automobile technicians, with Kerala alone needing 15,000 technicians in the next two years.

This initiative by Mahindra and Mahindra directly addresses this gap by offering intensive training programs designed for ITI and diploma holders, equipping them with specialized skills required by leading automobile brands, including Mahindra showrooms and service centers. The program promises 100 percent placement for all graduates.

The Mahindra and Mahindra Skill Development Program is a one-month intensive training module that provides hands-on experience and industry-specific skills in the automobile sector. The program is open to candidates with qualifications in ITI, diploma, B. Tech, VHSE, or KGST in automobile technology. Participants will gain industry-relevant knowledge, followed by 15 days of on-the-job training at Mahindra service stations.

This initiative bridges the gap between academic education and industry demands, offering practical training that enhances employability in the competitive automobile sector. Graduates from more than 12,000 ITIs and 3,500 polytechnic institutions in India, particularly in Kerala, are set to benefit from this program.

Speaking at the event, Ahmed, chairman and managing director of Eram Group, said: “We are developing a new ecosystem of skills development to meet the industry’s demand for skilled labor. This program, in collaboration with Mahindra and Mahindra, will craft industry-aligned curricula delivered by experienced trainers, providing candidates with the right skills to succeed in the automotive sector.”

Ahmed also outlined Eram’s vision to transform the traditionally male-dominated automobile service industry by aiming for a 50 percent women workforce at Eram Motors showrooms and service centers. He emphasized Mahindra’s commitment to creating inclusive environments with opportunities for differently-abled individuals as part of this training initiative.

Poulose Theppala, director of Eram Technologies, highlighted Eram Skills Academy’s track record of successfully training and deploying skilled labor in the oil and gas and healthcare sectors. “We are now expanding into the automobile sector to meet the growing demand for skilled technicians. This program is set to revolutionize the automotive training ecosystem in Kerala and South India,” he said.

The partnership with the Additional Skill Acquisition Program, or ASAP, Kerala reflects a commitment to improving the employability of Kerala’s youth by providing industry-specific training, certifications, and internships. Community Skill Parks under ASAP Kerala offer advanced vocational training in sectors like healthcare, electronics, and automotive, helping bridge the gap between academic knowledge and industry requirements.

Mahindra and Mahindra’s initiative also focuses on providing accelerated pathways for ITI and diploma holders, ensuring that they can upskill and secure stable jobs in just one month.

The Skill Development Program is a win-win for aspirants and the industry. It will uplift job aspirants, address the shortage of skilled technicians, and contribute to the overall growth of India’s booming automotive sector.


5th Souq Al-Dar to support 300 productive families

Updated 24 September 2024
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5th Souq Al-Dar to support 300 productive families

The Social Development Bank has announced the launch of the fifth edition of Souq Al-Dar (home market), themed “Amariya Flourishes,” which will take place in Riyadh’s Amariya district from Sept. 26 to 29. The event will feature the participation of more than 300 productive families from across the Kingdom, providing them with a platform to showcase their crafts and products.

Souq Al-Dar supports and empowers productive families and artisans, celebrating the cultural and heritage diversity of Saudi Arabia. The event will highlight the Kingdom’s deep-rooted traditions and heritage, with a focus on products and crafts that reflect the authentic Saudi identity.

A key attraction of the event is the Jal Al-Ebdaa area, the beating heart of the marketplace, which includes the Tajseed area, designed to support productive families and craftsmen. Visitors can also explore local stores showcasing products made by Saudi artisans.

In addition, Souq Al-Dar will feature several cultural and entertainment zones, each named after different elements of Saudi heritage. These include:

• Al-Malfi area: A space for artistic performances, traditional gatherings, and Arabic coffee experiences.

• Erth area: Offering workshops focused on traditional handicrafts.

• Al-Tar area: Dedicated to music and folkloric performances.

• Barahat Al-Fan area: A showcase of visual arts and local creativity.

• Al-Malas area: Featuring popular Saudi dishes from various regions of the Kingdom.

SDB encourages those interested in attending to register through the link: https://dulani.gov.sa/SouqDar. The event is expected to attract 1,500 visitors daily between 6 p.m. and 12 a.m., offering a unique opportunity for visitors to engage with local entrepreneurs, explore their inspiring success stories, and learn how they have turned their passions into profitable ventures.