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Pioneering female entrepreneurs discuss progress, challenges in Ƶ  

Pioneering female entrepreneurs discuss progress, challenges in Ƶ  
The Atlantic Council’s Middle East Initiatives hosted a panel discussion titled ‘Empower Me’ on Wednesday in Riyadh. (AN photo by Rahaf Jambi)
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Updated 19 September 2024

Pioneering female entrepreneurs discuss progress, challenges in Ƶ  

Pioneering female entrepreneurs discuss progress, challenges in Ƶ  

RIYADH: Female entrepreneurship in Ƶ was the focus of a panel discussion called “Empower Me”, hosted by the Atlantic Council Middle East Initiatives in Riyadh on Wednesday.

Speakers included Amal Dokhan, managing partner at MENA 500 Global and one of the Kingdom’s first female venture capitalists, along with Wafa Obaidat, founder and CEO of edtech company Playbook, and Afnan Ababtain, director of innovation and entrepreneurship at the Ministry of Investment of Ƶ.

The panel discussion was moderated by Noor Nugali, deputy editor-in-chief at Arab News. 

For the third year running, the Atlantic Council’s Women Innovators Fellowship brings together a group of pioneering female Saudi entrepreneurs for a year-long program designed to enhance their business skills and expand their regional and international networks. 

The 20 inspirational business leaders selected for the 2024-25 cohort represent diverse sectors such as technology, climate sustainability and healthcare.

In a virtual address, US Ambassador to Ƶ Michael Ratney said: “I want to first recognize our partner, the Atlantic Council, for their leadership in implementing this fellowship. I also want to thank all those involved for their invaluable support. Without you, this fellowship would not exist.” 

The panel discussion began with a question about the role of female entrepreneurs in advancing Ƶ’s economic conditions and their alignment with Vision 2030. 

Ababtain said: “We are seeing women contributing significantly to small and medium enterprises. Since Monshaat started operations in 2016, the participation of women has increased from 21 percent to over 45 percent.”  

Dokhan encouraged aspiring female entrepreneurs to take the leap: “If you have a business idea, don’t hesitate to apply to MENA 500 Global. Remember, rejection is part of the process. Others have succeeded, and so can you. The investments are there — Ƶ is backing many funds, and venture capitalists are excited about technology.”  

Reflecting on her journey with Playbook, Obaidat said: “I found myself frustrated within traditional business networks that lacked real opportunities for engagement. It’s disheartening to see that while girls excel academically, less than 2 percent of VC funding goes to women, and fewer than 10 percent reach C-level positions.” 

She emphasized the importance of creating a supportive environment: “Playbook was born from the need to discuss strategies for advancing in business and normalizing female leadership.”  

Since its inception, Playbook has attracted over 6,000 members, with 15 percent in C-level positions and 10 percent as female founders.

“We’ve raised over $1.5 million in pre-seed and seed funding, and our goal is to empower more women to navigate the complexities of the professional world,” said Obaidat.

The discussion panel was hosted by the Atlantic Council in partnership with the American Chamber of Commerce, the US Embassy in Ƶ and PepsiCo. The session can be viewed at


Saudi Joint Forces Commander meets with UN envoy for Yemen

Saudi Joint Forces Commander meets with UN envoy for Yemen
Updated 13 November 2024

Saudi Joint Forces Commander meets with UN envoy for Yemen

Saudi Joint Forces Commander meets with UN envoy for Yemen
  • During their meeting, both parties underscored the Kingdom’s significant role in facilitating and supporting humanitarian efforts in Yemen

RIYADH: Ƶ’s Commander of the Joint Forces, Lt. Gen. Fahd bin Hamad Al-Salman, met on Tuesday with the UN Secretary-General’s Special Envoy for Yemen, Hans Grundberg.

During their meeting, both parties underscored the Kingdom’s significant role in facilitating and supporting humanitarian efforts, along with its dedication to the development and reconstruction of Yemen, Saudi Press Agency reported.

They discussed Ƶ’s ongoing efforts to enhance humanitarian operations and promote peace and stability in Yemen.

Al-Salman reiterated the Kingdom’s commitment to political initiatives aimed at achieving a comprehensive and just resolution to the Yemeni crisis.


Officials discuss Saudi-South Korean cooperation in nuclear power and defense

Officials discuss Saudi-South Korean cooperation in nuclear power and defense
Updated 12 November 2024

Officials discuss Saudi-South Korean cooperation in nuclear power and defense

Officials discuss Saudi-South Korean cooperation in nuclear power and defense
  • First Korea-Gulf Cooperation Council cooperation seminar hosted around 80 participants to discuss trade relations, cooperation in the energy sector, and regional conflicts
  • Ambassador to Ƶ Choi Byung-hyuk said that the seminar was an opportune space to discuss economic cooperation and to come to a shared understanding of regional conflicts

RIYADH: Officials and nuclear experts discussed cooperation in nuclear energy and defense between South Korea and Ƶ during an event in Riyadh on Tuesday.

The first Korea-Gulf Cooperation Council cooperation seminar hosted around 80 participants to discuss trade relations, cooperation in the energy sector, and regional conflicts in the Middle East.

South Korea’s ambassador to Ƶ, Choi Byung-hyuk, said the seminar was an opportune space to discuss economic cooperation and to come to a shared understanding of regional conflicts in the GCC, specifically Gaza and the Red Sea, as well as a space to diversify energy cooperation in the nuclear and renewables sectors.

Kang Han-ok, vice president for SMART development at the Korea Atomic Energy Research Institute, presented a joint research project currently underway between South Korea and Ƶ on small modular reactors.

“SMRs are being highlighted as carbon-zero energy sources that complement the intermittent nature of renewable energy in the global power supply sector,” Kang said.

He noted how the SMART100 SMR, jointly designed by Saudi and South Korean entities, was approved by Seoul’s nuclear regulator in September.

The reactor was jointly developed by KAERI, the King Abdullah City for Atomic and Renewable Energy, and the Korea Hydro & Nuclear Power Corp.

Kang explained the reactor is now ready to be exported globally. “With its SDA acquaintance, SMART is now ready for global deployment in the demand of the power and thermal energy sectors,” he said.

Kang also spoke about ways to increase nuclear power plant cooperation between South Korea and GCC member states, citing the plan to establish a joint nuclear research and development center between the Saudi National Atomic Energy Project and KAERI.

The chairman of the Gulf Research Center, Abdulaziz Sager, emphasized that Ƶ’s ability to rely on South Korea as a strong ally and defense supplier encouraged a relationship of trust and long-term partnership in the Kingdom’s security planning.

The seminar comes almost one year after the signing of a free trade agreement between South Korea and the GCC, signed on Dec. 28, 2023.

At the time, South Korea committed to eliminate 89.9 percent of tariffs on all products while the GCC committed to eliminate 76.4 percent, facilitating increased trade between the two parties.

The Korea-GCC FTA was 20 years in the making. Discussions for the agreement began in 2008, but it is yet to be verified or ratified. Lee Kwon-hyung, senior research fellow from the Korea Institute for International Economic Policy, put forward recommendations on how to pave the way for the agreement and how to best utilize it once finalized, including establishing an artificial intelligence data center to transition towards a green energy economy relying on solar, wind, and nuclear power for electricity generation.

“The AI data center needs a lot of electricity, so an energy transition and a digital transition are very imperative, and with the AI Data Center we can make industrial restructuring in both countries,” Lee said.

Prof. In Nam-sik, director general for strategic region studies at the Korea National Diplomatic Academy, evaluated the impact of geopolitical dynamics in the Middle East and East Asia on Korean-GCC relations, as well as the transformation of the US-led liberal international order.

On the war on Gaza, In said: “The situation threatens to shift the two-state solution toward an apartheid scenario, further destabilizing the region.”

On Iran, In continued: “Iran’s expanding influence through its regional proxy contributes to ongoing instability, with concerns that the current dynamics may accelerate Iran’s nuclear ambitions.

“The transition in Iran’s leadership raises uncertainties, with hopes for a gradual regime change that might reduce Iran’s revolutionary stance.”

Commenting on US influence, In said: “As the US pivots its strategic focus to Asia, Gulf nations are adopting flexible diplomacy, leveraging both US and Chinese influence.”

In stated that the Middle Eastern and European fronts are already linked, and North Korean military support to Russia signals an increasing risk of interconnected conflicts across regions.

To combat these regional and international threats, In urged South Korea and the GCC to work together on security cooperation across information sharing and technology, joint maritime security exercises, and shared support for multilateral forums, in addition to continued political dialogue in the above mentioned areas.


Saudi cabinet reviews Arab-Muslim summit, reaffirms support for Palestine and Lebanon

Saudi cabinet reviews Arab-Muslim summit, reaffirms support for Palestine and Lebanon
Updated 12 November 2024

Saudi cabinet reviews Arab-Muslim summit, reaffirms support for Palestine and Lebanon

Saudi cabinet reviews Arab-Muslim summit, reaffirms support for Palestine and Lebanon
  • Central to the session was a review of the extraordinary Arab and Islamic summit held in Riyadh on Monday

RIYADH: The Saudi cabinet, led by Crown Prince Mohammed bin Salman, convened in Riyadh on Tuesday to discuss outcomes from recent high-level summits and meetings.

Central to the session was a review of the extraordinary Arab and Islamic summit held in Riyadh on Monday and the crown prince’s engagements with leaders from various countries.

The cabinet praised the summit’s outcomes and welcomed its signing of the Tripartite Mechanism Document to Support Palestine, a joint initiative by the Organization of Islamic Cooperation, the League of Arab States, and the African Union Commission.

The cabinet reiterated the Kingdom’s support for the Palestinian and Lebanese people as they face the severe humanitarian effects of the ongoing Israeli military action. It called on countries around the world to join an international coalition advocating for the two-state solution — a plan initiated this year by the Arab-Islamic Ministerial Committee, led by Ƶ, in partnership with the European Union and Norway.

During the session, the crown prince briefed the cabinet on his recent discussions with President Masoud Pezeshkian of Iran, Japanese Prime Minister Shigeru Ishiba, and a phone conversation with US President-elect Donald Trump.

The minister of media announced that the cabinet expressed its appreciation for the Kingdom’s Arab Week at UNESCO initiative, hosted at UN headquarters in Paris, for enhancing cultural dialogue and promoting understanding among diverse communities.

On domestic matters, council members commended the reception of the Saudi medical team that accomplished the world’s first complete robotic heart transplant. 

It also celebrated the success of the Beban 24 Forum’s 10th edition in Riyadh, which produced agreements and initiatives exceeding SR35.4 billion ($9.42 billion) aimed at bolstering entrepreneurship and enhancing the contribution of small and medium enterprises to the national gross domestic product.


Indian film icons Bobby Deol, Suriya hail Riyadh visit

Indian film icons Bobby Deol, Suriya hail Riyadh visit
Updated 12 November 2024

Indian film icons Bobby Deol, Suriya hail Riyadh visit

Indian film icons Bobby Deol, Suriya hail Riyadh visit
  • The duo are in the Kingdom’s capital to promote epic saga ‘Kanguva,’ in theaters on Nov. 14

RIYADH: Bollywood icon Bobby Deol and Tamil cinema veteran Suriya spent time with fans and members of the press to promote their new film “Kanguva” in Riyadh.

They are among the latest international stars to visit the Kingdom’s capital and interact with local fans of their work.

“Kanguva” is an epic fantasy action film directed by Siva, starring Suriya, Deol, and Disha Patani, which hits the Kingdom’s theaters on Nov. 14.

Over the past few weeks, Suriya and Deol have been promoting “Kanguva” across India and abroad. (Supplied)

Speaking to fans at an event in Riyadh this week, Deol expressed his appreciation for fans in Ƶ. “Today I am here with all of you, and so many of you. I am happy to be here among you all. I love you, Suriya loves you, we all love you for so much of your love and compassion,” he said.

Speaking about his first visit to Riyadh, Deol added: “I feel so happy that our people live here and are liked by the host country. I am glad to see you all. It’s your energy, it’s your love that gives us strength, and whatever we are today, it’s because of your love.

“So, thank you so much for having us here today.”

HIGHLIGHT

Bobby Deol and Suriya are among the latest international stars to visit the Kingdom’s capital to promote their film.

Suriya is in Riyadh for the first time for the film’s promotion.

The style icon told Arab News: “I am happy to be among our people living here and to see a lot of transformation going on in the Kingdom, including in the cinema sector, thanks to Vision 2030 — the ambitious plan to transform Ƶ, diversify its economy and open to the world.

Deol said he is geared up for the release of “Kanguva,” his first multilingual work in both Tamil and Hindi. (AN photo by Rashid Hassan)

“It aims to create an ambitious nation, a thriving economy, and a vibrant society that allows citizens and residents to achieve their dreams, hopes and aspirations, I am happy to see the transformation,” the actor added.

Suriya and Deol also spoke about sharing the screen in “Kanguva,” admiring each other’s roles and working together.

Deol said he is geared up for the release of “Kanguva,” his first multilingual work in both Tamil and Hindi. He shared his admiration for Suriya, highlighting the powerful presence the actor brings on the screen.

Over the past few weeks, Suriya and Deol have been promoting “Kanguva” across India and abroad.

With Suriya in a double role and Deol as a dangerous villain, the film was made with a budget of over $35million and is one of the most anticipated Indian films of the year.

The film also features Patani as a character connected to both a historical and contemporary timeline. Primarily known for her glamorous roles, action-packed sequences and songs, this role portrays her in a fresh look.

 


Speaker of Shoura Council leads Saudi delegation at GCC Shoura meeting in Abu Dhabi

Speaker of Shoura Council leads Saudi delegation at GCC Shoura meeting in Abu Dhabi
Updated 12 November 2024

Speaker of Shoura Council leads Saudi delegation at GCC Shoura meeting in Abu Dhabi

Speaker of Shoura Council leads Saudi delegation at GCC Shoura meeting in Abu Dhabi
  • Secretary-General of the Gulf Cooperation Council Jasem Al-Budaiwi emphasized the prominent regional and international standing of the GCC across political, economic, commercial, and information technology levels, the council said in a report

RIYADH: Saudi Shoura Council Speaker Sheikh Abdullah bin Mohammed bin Ibrahim Al-Sheikh headed the Kingdom’s delegation at the 18th periodic meeting of the Speakers of the Shoura Councils, Houses of Representatives, and National Assemblies of the Gulf Cooperation Council states in Abu Dhabi on Tuesday.

Secretary-General of the Gulf Cooperation Council Jasem Al-Budaiwi emphasized the prominent regional and international standing of the GCC across political, economic, commercial, and information technology levels, the council said in a report.

The Kingdom’s delegation included Secretary-General of the Shoura Council Mohammed Dakhil Al-Mutiri and members of the Shoura Council Fadel bin Saad Al-Buainain and Dr. Arwa bint Obaid Al-Rashid, among others.