Alinma to finance Bahri’s fleet modernization drive

Updated 22 October 2024

Arab News

October 22, 2024 22:32

Bahri, the national shipping company of �� and a global leader in maritime transportation and logistics, signed a landmark Murabaha agreement with Alinma Bank to secure financing to support its fleet modernization program.

Basil Abulhamayel, chief financial officer at Bahri, and Jameel Al-Hamdan, chief corporate banking group at Alinma Bank, signed the agreement on behalf of their respective organizations. Senior executives from both sides were present at the signing ceremony.

Under the terms of the agreement, Alinma Bank will extend a credit facility worth SR2.8 billion ($756 million) to partially finance the purchase of nine state-of-the-art very large crude carriers intended to streamline the process of phasing out older vessels. The move will further strengthen Bahri’s position as a global leader in maritime logistics and transportation.

Commenting on the agreement, Abulhamayel said: “We are delighted to partner with Alinma Bank to finance one of our significant fleet modernization drives. The enhanced financial capabilities from this collaboration will fuel our efforts to improve our overall fleet competitiveness that will lead to enhancing the company’s revenues and profitability, aligning with our long-term strategic goals. With these strengthened capacities, we are confident in supporting the Kingdom’s vision to become a global leader in maritime and logistics in line with Vision 2030.”

Al-Hamdan said: “We are pleased to finance one of Bahri’s key strategic vessels acquisitions in recent years. This collaboration aligns with our ongoing commitment to Vision 2030 and supports our strategic initiatives to enhance Alinma Bank’s position as the preferred financial partner for the public and private sectors.”

Strategic fleet modernization has always been a core focus of Bahri’s strategy. Leveraging the Kingdom’s strategic location, the company has been actively expanding into new sectors and global markets.

Intelligent driving experience to debut at OMODA&JAECOO International User Summit 2025

Updated 12 October 2025

October 12, 2025 16:32

Intelligent driving experience to debut at OMODA&JAECOO International User Summit 2025

Updated 12 October 2025

October 12, 2025 16:32

OMODA&JAECOO is evolving from offering single models to a full-fledged product matrix. Leveraging its advanced hybrid technology, Auto Park system, and ADAS system, the brand has achieved a comprehensive leap forward in design, powertrain performance, safety, and intelligence.

It is committed to delivering an efficient, safe, and user-friendly mobility experience that meets global high standards.

OMODA&JAECOO is transforming from being a mere product provider to an ecosystem co-creator in the mobility sector. By upgrading its global service system, establishing a user co-creation platform, and continuously listening to user feedback, the brand is forging a warm and engaging new ecosystem for mobility.

The OMODA&JAECOO International User Summit is set to kick off in October. Under the theme of “Co-create Co-define,” and with the future vision of “Dare to be No.1,” this event will bring together global users to jointly explore new possibilities for future mobility.

This gathering serves not only as a platform for in-depth interaction between the brand and its users but also as a concentrated showcase of OMODA&JAECOO’s globalization strategy and ecological philosophy.

Leveraging its Full-Chain 4.0 Strategy, the brand will interpret its new heights through four key pillars: Global Product Evolution, Journey Together, Connected Care, and Voices of the Future, continuously providing global users with high-quality and intelligent mobility experiences.

Reshaping the future mobility ecosystem

OMODA&JAECOO’s comprehensive evolution from offering single models to a full-fledged product matrix represents not just an expansion of its product lineup but also a holistic leap forward in technological prowess, design innovation, and brand responsibility.

In terms of design, the brand has achieved an upgrade from Art in Motion 1.0 to 2.0-X, endowing its models with stronger visual appeal and distinctiveness.

Regarding powertrain, relying on globally leading super hybrid technology, OMODA&JAECOO provides users with efficient new energy mobility solutions. Intelligence and safety performance have emerged as key highlights of the brand’s product evolution.

The synergy between the Auto Park and ADAS systems significantly enhances driving intelligence and convenience. Multiple models, including the OMODA 9 SHS and JAECOO 7 SHS, have consecutively secured the five-star safety rating from Euro NCAP, setting a global standard for safety.

Moreover, the JAECOO 5 has earned the pet-friendly cabin certification from TÜV SÜD for its outstanding performance, delivering the best mobility experience in its class for both passengers and pets.

OMODA&JAECOO is transforming from being a mere product provider to an ecosystem co-creator in the mobility sector, integrating the ESG green philosophy throughout the entire product lifecycle to drive low-carbon R&D and sustainable development.

From design to technology, and from intelligence to safety, the brand continues to evolve across all dimensions, consistently demonstrating its unwavering commitment to high-quality, intelligent mobility.

Co-creating and ecosystem, from product connectivity to emotional symbiosis

A car is not merely a means of transportation; it is an extension of life and emotions. OMODA&JAECOO aspires for its users to perceive not just the value of its products, but also the brand’s profound engagement in their lives.

Throughout its global expansion, OMODA&JAECOO continues to evolve, cherishing every user’s experience and expression, and attentively listening to the myriad stories they craft alongside their beloved vehicles.

This two-way interaction harmonizes technology with humanity, imbuing the brand with a warm emotional essence and strengthening users’ sense of belonging and identification.

Service enhancement is a pivotal aspect of brand advancement. OMODA&JAECOO is comprehensively optimizing its global service system by increasing the density of service outlets, ensuring that users can enjoy high-standard, consistent, and attentive services no matter where they are.

The service model has also shifted from one-way support to two-way interaction, placing equal emphasis on global uniform quality and localized care, thereby bringing the brand closer to its users.

Listening to user voices and co-creating the future of mobility underscore OMODA&JAECOO’s open-minded approach. By hosting time-limited co-creation events and maintaining a long-term open platform, the brand gathers global wisdom to continuously drive user participation and product innovation.

With a comprehensive upgrade in technology, products, and user experiences, OMODA&JAECOO is ascending to new heights. Looking ahead, OMODA&JAECOO will persistently leverage a global perspective and a spirit of co-creation to craft warm, intelligent mobility experiences for users worldwide.

In July, the parent company of OMODA&JAECOO climbed to 233rd spot on the 2025 Fortune Global 500 list, while achieving a Dual 500 milestone — surpassing 5 million cumulative exports alongside its Global 500 ranking.

OMODA&JAECOO’s brand vision is co-creating a better life with young people — OMODA focuses on establishing itself as the global most professional crossover brand, while JAECOO aims to become the global leading elegant off-road brand, constructing differentiated competitiveness through parallel dual routes.

Based on such brand positioning and development approaches, OMODA&JAECOO demonstrated robust growth momentum in the European market in 2025, emerging as the fastest-growing brand locally. In the NEV sector, leveraging globally leading SHS technology, it provides efficient new energy solutions for users worldwide while steadily advancing toward the goal of becoming the leading global hybrid brand.

Notably, in addition to continuous breakthroughs in core automotive areas, OMODA&JAECOO has extended its technological innovation reach into the realm of intelligent technology.

The AiMOGA robot, jointly developed by the brand and the AiMOGA team, has become an exemplary practice in the intelligent transformation process of automakers, further broadening the brand’s value boundaries.

During the International User Summit, Chery International will launch a series of user-centered activities under its sub-brands CHERY, EXEED, OMODA JAECOO, and iCAUR.

#2025OJInternationalUserSummit #SuperHybridSystem #SHS #OMODA #JAECOO #OMODAJAECOO

Syria is online: Syrian Pavilion debuts at GITEX Expand North Star 2025 in Dubai

Updated 11 October 2025

October 11, 2025 12:05

Syria is online: Syrian Pavilion debuts at GITEX Expand North Star 2025 in Dubai

Updated 11 October 2025

October 11, 2025 12:05

For the first time, the Syrian Pavilion will take part in GITEX Expand North Star 2025, the world’s largest event for innovation and entrepreneurship, held in Dubai from Oct. 12 to 15, 2025. Under the slogan “Syria is Online,” the pavilion highlights the nation’s re-emergence in the global digital economy, showcasing Syrian talent, creativity, and innovation to international investors and technology leaders.

The pavilion will serve as a dynamic hub for Syrian startups and entrepreneurs to present their projects to top investors and partners, shedding light on inspiring success stories from across the tech ecosystem. It aims to build bridges for collaboration, employment, and cross-border partnerships.

Key highlights include:

Startup pitches at the Syrian Pavilion and on North Star’s main stages.
Panel discussions and interactive sessions on the future of technology and entrepreneurship in Syria.
Networking events connecting founders, investors, and organizations.

Empowering the next generation of Syrian talent

Bassel Yassine Ojjeh, chairman of SYNC and organizer of the Syrian Pavilion, said: “Our slogan ‘Syria is Online’ is a mission. We’re working to build a strong technological ecosystem that creates real opportunities for Syrian youth. Our goal is to generate 25,000 tech-related jobs within five years. Participating in GITEX Expand North Star is a vital step toward that goal — an opportunity to showcase Syrian talent and build partnerships that open doors for a new generation shaping the digital future.”

Backed by local and international support

The initiative is supported by the Syrian Business Council, SYNC, and the US–Syria Business Council, reflecting growing confidence in Syrian innovation and its potential to contribute to the global digital economy.

Reconnecting Syria to the global tech map

The Syrian Pavilion is not just an exhibition space — it’s a strategic platform positioning Syria as a hub for technology, creativity, and entrepreneurship. This milestone participation marks a turning point for Syria’s digital revival, connecting its innovators to the world and creating long-term economic opportunities.

GITEX Expand North Star 2025 is running from Oct. 12-15 at Dubai Harbor.

Global collaboration key to building a zero-waste world

Updated 10 October 2025

October 10, 2025 14:01

Global collaboration key to building a zero-waste world

Updated 10 October 2025

October 10, 2025 14:01

The scale of the world’s waste crisis is staggering. According to the UN, humanity produces around 2.2 billion tons of municipal solid waste each year. Without urgent action, that figure could rise to 3.8 billion tons by 2050. 

For many cities, waste management has become not just an environmental but also a financial and health concern. At the recent ASEAN Governors and Mayors Forum in Kuala Lumpur, local leaders reported that up to 40 percent of their municipal budgets are spent on waste. Meanwhile, citizens across the region ingest the equivalent of a credit card’s worth of microplastics annually.

Samed Agirbas, president of the Zero Waste Forum, argues that this is a truly global problem. “Every city and town faces the same challenge,” he says. “Waste is threatening well-being and economic prosperity, while accelerating climate change, biodiversity loss and pollution.”

Root of the problem

At the heart of the waste crisis is consumer behavior. A culture of convenience — where food, fashion, electronics and even construction materials are designed for short-term use — has driven unsustainable consumption and swelling landfills. Yet Agirbas points out that determined leadership can make a difference.

In Japan, Yokohama has pursued a two-decade city-wide program of awareness campaigns, regulation and community engagement. As a result, waste levels have dropped sharply, and landfill sites are being closed. Manila, by contrast, has focused on separating organic from inorganic waste, then incinerating residual waste to generate energy. While this is a positive step, Agirbas cautions that incineration cannot be the final answer. “Waste-to-energy plants are popping up all around the world,” he says. “But it isn’t zero waste. The Zero Waste Foundation would like the world to reduce the amount of waste that needs to be incinerated. This means rethinking, reusing and recycling.” 

Local solutions, global challenges

While cities experiment with solutions, international co-operation remains weak. Waste is still largely managed by national and municipal authorities with limited co-ordination across borders. Yet the Zero Waste Foundation, led by Agirbas, is working to change this.

The organization promotes zero waste principles globally, lobbying at the UN General Assembly, the World Urban Forum, regional summits such as ASEAN and annual climate conferences. It also works with academics to develop practical strategies that make low-waste living accessible to ordinary people. “Conservation of resources is important,” says Agirbas. “But we must be able to find alternatives that make it possible for ordinary people to live a zero-waste lifestyle.”

Signs of progress are emerging. In Tübingen, Germany, the introduction of a tax on disposable packaging cut waste by 15 percent within weeks. Initiatives such as this, Agirbas says, demonstrate that behavioral change is possible when governments provide the right incentives.

A growing movement

The foundation helped launch the first International Zero Waste Day in New York in 2023 and continues to build momentum. Its flagship upcoming event is the Zero Waste Forum in Istanbul, scheduled for Oct. 17-19. Under the theme “People. Places. Progress.,” the forum will convene leaders from governments, businesses and civil society to accelerate action.

Key themes include:

Cities as drivers of change, showing how mayors and governors are implementing zero waste locally.
Business and innovation, highlighting solutions from companies and startups making reuse and repair viable.
Global policy frameworks, including the UN Plastics Treaty and European packaging regulations.
Technology and data, exploring AI and digital traceability to measure progress.
Voices from the Global South, ensuring that solutions are inclusive and equitable.

The forum will also see the launch of the Zero Waste International Awards, recognizing pioneering cities, companies and individuals who deliver measurable results. Another expected outcome is the establishment of a business coalition to promote circular economy models that create jobs and attract investment.

A ministerial roundtable convened by Turkiye’s Minister of Environment, Urbanization and Climate Change Murat Kurum will focus on the alignment of zero waste policies among member states. Malaysia’s Minister of Housing and Local Government Nga Kor Ming, who is also the president of the UN Habitat Assembly, will advocate for the mainstreaming of the New Urban Agenda into the UNFCCC process at COP30. By adopting the zero waste policy, countries and cities can take action to reduce pollution and environmental degradation.

Navigating global tensions

Calls for multilateral action are rising, but they come at a time of geopolitical strain. Agirbas acknowledges these challenges but insists that co-operation is essential. “We don’t have a choice,” he says. “As our patron, Emine Erdogan, the first lady of Türkiye, says, we are obliged as humanity to act at once and together because we will either win or lose all together.”

This sense of urgency is also personal. “I have a little daughter,” Agirbas adds. “I want to make sure we leave a better world for her.”

The road ahead

Looking to the next decade, the foundation’s mission is clear: to inspire and enable societies to rethink, reuse and recycle at scale. Collaboration will be central — working with UN agencies, national and local governments, businesses, civil society and indigenous communities. Innovation will be equally important, as new technologies and economic models will determine whether zero-waste living can be achieved by ordinary people around the world.

“So long as there are human settlements, there will be a waste management challenge,” Agirbas reflects. “We need to create a whole-of-humanity approach that makes zero waste possible.”

Alshaya Group inks deal with Shomoul Holding to invest $150m in The Avenues — Riyadh

Updated 08 October 2025

October 08, 2025 17:43

Alshaya Group inks deal with Shomoul Holding to invest $150m in The Avenues — Riyadh

Updated 08 October 2025

October 08, 2025 17:43

Shomoul Holding, a subsidiary of Mabanee Company, has announced the signing of an agreement with Alshaya Group, a leading international retail franchise operator of around 70 world-class brands.

Under the agreement, which represents an investment of $150 million by Alshaya Group, the company’s world-famous brands will open across a total leasable area of more than 50,000 square meters in 100 stores at The Avenues — Riyadh, creating jobs for 2,500 Saudi nationals.

Set to become one of the largest and most prominent shopping and leisure destinations in the Middle East and Africa region, The Avenues — Riyadh will span a land area of 390,000 square meters, with a gross leasable area of 370,000 square meters. This landmark project will feature a wide array of global retail outlets alongside exceptional leisure and entertainment concepts and is scheduled to open in the first quarter of 2027.

Waleed Alsharian, CEO of Shomoul Holding, said: “The Avenues — Riyadh represents a major milestone in our journey to create exceptional, integrated destinations that seamlessly combine retail, leisure, and hospitality. The addition of these prestigious brands from Alshaya Group will further elevate the visitor experience at one of the most anticipated shopping and entertainment hubs in �� and the wider region.”

John Hadden, CEO of Alshaya Group, added: “We are delighted to be part of The Avenues — Riyadh, which reflects our ongoing commitment to bringing the finest global brands and outstanding retail and leisure experiences to our customers in ��. With over 100 stores — including many flagship stores from our famous brands including our new partner Ulta Beauty, our first DreamWorks entertainment center, and more new brands to follow — our investment demonstrates our support of growth in the Kingdom and the employment of Saudi nationals.”

Alshaya Group’s portfolio at The Avenues — Riyadh will include a diverse range of brands including Starbucks, American Eagle, Footlocker, Victoria’s Secret, H&M, Bath and Body Works, Charlotte Tilbury, Raising Cane’s, Shake Shack, and Chipotle, as well as recently announced new partner Ulta Beauty. The first Ulta Beauty store in the region will open in The Avenues, Kuwait, in November.

Last year, Alshaya Group also announced a strategic partnership with DreamWorks Animation and Universal Live Entertainment to launch the Middle East’s first DreamPlay interactive and creative entertainment center. The region’s first DreamPlay will also open at The Avenues — Riyadh, further strengthening its position as a premier, fully integrated family leisure hub.

The destination will also feature more leading entertainment experiences from Alshaya Group, including Masha and the Bear, Zafari, Cube Karting, and Sports Ultimate.

Thabet Investment and Singapore’s Five Keys launch $100m ‘Everbridge Capital’ to support fintech innovation

Updated 08 October 2025

October 08, 2025 17:00

Thabet Investment and Singapore’s Five Keys launch $100m ‘Everbridge Capital’ to support fintech innovation

Updated 08 October 2025

October 08, 2025 17:00

In a strategic move aimed at bolstering the Saudi financial sector, Thabet Investment Company has announced a partnership with the Singaporean firm Five Keys Investment Pte. Ltd., to establish a specialized financial technology company.

Headquartered in Riyadh, Everbridge Capital, launched with an investment of SR375 million ($100 million), will provide innovative financing solutions for small and medium-sized enterprises and contribute to bridging the current financing gap in this sector, which is estimated to be more than SR300 billion.

This launch aligns with the objectives of the Financial Sector Development Program, a key component of Saudi Vision 2030, which seeks to increase SME financing from its current level of 9.4 percent to 20 percent by 2030.

Dr. Abdulelah bin Ahmed Saleh, who holds a Ph.D. from King Abdullah University of Science and Technology, has been appointed CEO of the new company.

Abdulrahman bin Ahmed Saleh, CEO of Thabet Investment, said: “The launch of Everbridge Capital demonstrates our commitment to our national role in achieving Vision 2030 by bridging the financing gap in the fintech sector and providing a growth engine for this vital industry.

Our partnership with Five Keys ensures we can deliver innovative solutions that meet global standards. Empowering SMEs and providing them with the necessary resources to succeed drives innovation and creates new opportunities for economic growth.”

Commenting on his appointment, Abdulelah said: “I am honored to lead Everbridge Capital at this pivotal stage of the Kingdom’s economic transformation.

Our mission is clear: to be the bridge that enables SMEs to cross over to growth and prosperity, turning the SR300 billion financing gap challenge into an opportunity, and actively contributing to the Financial Sector Development Program’s goal of reaching 20 percent financing. Our vision is to be the most innovative and trusted financial partner for entrepreneurs in the Kingdom.”

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