Biban 24 concludes with $9bn in deals, boosting ’s SME sector

Biban 24 concludes with $9bn in deals, boosting ’s SME sector
1 / 3
The five-day event, themed ‘A Global Destination for Opportunities,’ attracted over 182,000 visitors. SPA
Biban 24 concludes with $9bn in deals, boosting ’s SME sector
2 / 3
The five-day event, themed ‘A Global Destination for Opportunities,’ attracted over 182,000 visitors. SPA
Biban 24 concludes with $9bn in deals, boosting ’s SME sector
3 / 3
The five-day event, themed ‘A Global Destination for Opportunities,’ attracted over 182,000 visitors. SPA
Short Url
Updated 10 November 2024

Biban 24 concludes with $9bn in deals, boosting ’s SME sector

Biban 24 concludes with $9bn in deals, boosting ’s SME sector
  • Biban 24 marked a landmark achievement for ’s entrepreneurial framework
  • Several financing agreements were signed with local banks, amounting to over SR15 billion

RIYADH: Agreements exceeding SR35.4 billion ($9.42 billion) were signed at Biban 24 in Riyadh, an event organized by the General Authority for Small and Medium Enterprises, also known as Monsha’at

The five-day event, themed “A Global Destination for Opportunities,” attracted over 182,000 visitors, reflecting the Kingdom’s rapid development in the SME sector and entrepreneurship, the Saudi Press Agency reported.

According to Monsha’at Gov. Sami bin Ibrahim Al-Husseini, Biban 24 marked a landmark achievement for ’s entrepreneurial framework. He highlighted the forum’s record-setting agreements and innovative initiatives, strengthening entrepreneurship within the country. 

Al-Husseini said these achievements align with Saudi Vision 2030’s objectives to boost the SME sector’s contribution to the national gross domestic product. 

“The forum’s success is a testament to the commitment of public and private sector enablers, partners, and sponsors to support SMEs and empower entrepreneurs to launch and grow their ventures,” he said.

Biban 24 featured partnerships with prominent international organizations, including the Estonian Business and Innovation Agency, Bahrain’s Tamkeen Labor Fund, the Korea Franchise Association, Malaysian SMEs, Korea’s Ministry of SMEs and Startups, Malaysian Franchise Development, Miltton CIO World, Alibaba Cloud, Zoom, and Oracle. 

Several financing agreements were signed with local banks, amounting to over SR15 billion to support Saudi entrepreneurs and SMEs.

The event drew a global crowd of business owners and featured over 300 panels and workshops with over 250 international and local speakers. 

The e-commerce section included 59 service providers and enablers, showcasing emerging technologies, modern retail, and e-commerce solutions. Specialists provided guidance on digital payments, online marketplaces, and supply chains throughout the forum.

Biban Talks, a dedicated stage, hosted over 100 speakers covering diverse topics such as media, tourism, the environment, education, sports, finance, investment, and the non-profit and financial sectors. 

The interactive platform enabled entrepreneurs to share success stories and discuss challenges.

In the Investor Arena, over 115 business owners showcased their projects to potential investors, resulting in preliminary agreements for deals with 65 companies, totaling over SR15 million. 

The event also welcomed more than 1,350 startups from 72 countries worldwide. 

Biban 24 celebrated the graduation of 12 startups from its Real Estate Innovation Accelerator, while also launching a virtual lab to support business owners.

The event brought together over 70 local and international incubators and accelerators to showcase projects and share success stories. The forum also promoted collaboration between entrepreneurs and investors to build a robust entrepreneurial environment that fosters innovation and economic growth in .

Asrar Al-Omiri, CEO of “A’akelha Incubator,” said that Biban 24 was an essential platform for startup hubs and accelerators to spotlight their supported projects. 

She added that A’akelha’s participation through the “360 Platform” virtual incubator aimed to showcase success stories and assist projects in expanding through investment rounds. 

Al-Omiri highlighted the launchpad’s commitment to attracting entrepreneurs and offering an ideal environment for transforming ideas into scalable businesses.

Ghassan Halawa, founder and CEO of Parachute16, affirmed that Biban 24 is the leading event focused on high-growth startups and entrepreneurship. 

Halawa underscored the extensive local and international participation, which allows business incubators to showcase projects and directly engage with investors and key players in the entrepreneurial space.

Lama Ghalayini, business development specialist at VentureTactics Fund, described Biban 24 as a valuable opportunity for fintech startups to enhance their investment prospects. 

She said the forum provides a crucial platform for entrepreneurs to understand the fund’s role in enabling startups to overcome financing challenges through innovative solutions that foster their market growth.

During Biban 24, Monsha’at signed a memorandum of understanding with the General Authority of Civil Aviation to enhance cooperation in supporting SMEs within the civil aviation sector through challenges, hackathons, and innovation initiatives. 

Representing Monsha’at at the signing ceremony was the Deputy Gov. for Entrepreneurship Sector, Saud bin Khalid Al-Sabhan, while GACA was represented by its Vice President for Aviation Security, Mohammed bin Saad Al-Fawzan.

Biban 24, held from Nov. 5 — 9 at the Riyadh Exhibition and Convention Center, stood as a pivotal platform for fostering growth and collaboration within ’s SME sector, promoting an environment that encourages innovation and cross-sector partnerships aligned with Vision 2030.


Why it is vital to protect acacia trees from invasive beetle

Why it is vital to protect acacia trees from invasive beetle
Updated 58 min 16 sec ago

Why it is vital to protect acacia trees from invasive beetle

Why it is vital to protect acacia trees from invasive beetle
  • A wood-boring beetle has been killing trees in the Kingdom, including the important acacia and jujube 
  • But an environmental expert cautions against using insecticides that could harm the ecosystem

RIYADH: The acacia tree is of significant importance to both the environment and culture in . It provides shelter for migratory birds and protects travelers and Bedouins in the Arabian Peninsula’s hot desert.

Among the many environmental benefits of the acacia tree is its ability to prevent desertification; its roots improve soil fertility; it provides shade and lower temperatures; it stores carbon and reduces carbon dioxide levels; and it stabilizes dunes in desert areas.

An invasive beetle — scientific name Agrilus planipennis Fairmaire — has been attacking trees for years, killing many of them in the Kingdom, including perennial trees.

The 'Emerald ash borer' (scientific name: Agrilus planipennis Fairmaire) is a highly destructive wood-boring beetle feeding on the phloem of ash trees. (Supplied)

Oubaid Alouni, an environmental consultant and former consultant at the National Center for Vegetation Cover Development and Combating Desertification, explained the role of the acacia tree in the ecosystem and how the pest threatens its existence.

He outlined the different types of acacia trees in .

“The acacia tree grows naturally in the desert. It is a desert umbrella tree and is divided into two types; the Iraqi acacia and the Najdi acacia, and reaches around 55 types in total,” Alouni said.

There is also another type of acacia tree that grows in Asir, locally known as Al-Kanhbal, scientific name Vachellia origena, that differs from the Najdi acacia, which has long branches and provides ample shade.

While some acacia trees are native to , others were imported, such as acacia raddiana. They all share a similar trait, providing vital protection from strong sunlight.

While some acacia trees are native to , while others were imported, along with the wood borer. (SPA file photo)

“Any hiker, any traveler, who wants to go to the desert must pass by this tree and take shelter under it,” Alouni said, describing how people have always been connected to this species and valued it.

Securing native trees, not only acacia, holds a deeper meaning for the culture and tradition, he said, such as when the Prophet Muhammad used to sit under the Ziziphus spina-christi.

The acacia tree is threatened by the Agrilus planipennis Fairmaire as this species relies on the tree for nutrients.

“This insect reached through imported wood, as they found larvae inside wood imported from Russia,” Alouni said.

DID YOU KNOW?

• Some of the finest honey in the Kingdom is produced from acacia and jujube trees.

• Acacia trees help reduce sand encroachment in the desert and provide shelter for several bird species.

• The acacia tree can withstand drought for up to 10 years, even severe drought.  

The pest is a highly destructive wood-boring beetle feeding on the phloem of ash trees. It is also known as the Emerald ash borer, and is native to China, Japan, South Korea, Mongolia and Russia.

This bug is typically a small, metallic green beetle, around half an inch (about 1.2 to 1.5 cm in length), and one of its distinguishing features is that when the wing covers are lifted, the upper abdomen is bright red.

Its life cycle involves multiple stages. The first is the egg stage, during which females lay 40-53 eggs.

The larva lives inside the tree for one to two years, eating the layer between the bark and the main trunk. (Supplied)

Then comes the larva, the longest stage of the beetle’s life cycle, lasting almost a year.

“The larva lives inside the tree for one to two years, eating the layer between the bark and the main trunk,” Alouni said.

After that, it goes through a shorter stage, as a pupae, that lasts about 20 days.

Finally, it reaches the adult stage and is known for chewing through the wood and emerging from trees, forming a small, D-shaped exit hole about 3 to 4 mm wide. This stage of its life is usually short, lasting about 20 days.

The pest is now attacking olive trees in the US, Alouni said.

“In Ohio, I believe, it has begun to invade olive trees terrifyingly. This insect is very dangerous.”

The life cycle of Agrilus planipennis Fairmaire involves multiple stages before reaching adulthood. The first stage is the egg stage, during which females lay 40-53 eggs. (Supplied)

Among the factors that enabled this insect population to increase nationwide is the hunting of birds, especially migratory birds, because they usually feed on insects.

However, the biggest threat to the ecosystem is ignorance, Alouni said, as many people believe the insect is part of the Kingdom’s native environment and that protecting it contributes to a balanced ecosystem.

“There are still people who say, ‘Leave it alone; it’s part of the ecological balance,’ which is, of course, incorrect. This insect is an invasive species in our environment,” he said.

He also believes that pruning trees leaves branches exposed and vulnerable to this insect entering the tree, and that transferring wood from one location to another may provide an opportunity for the larva to expand and increase its numbers.

To address this environmental issue, Alouni told Arab News about the efforts being made to safeguard and protect the Kingdom’s natural treasures, including organizing discussions and workshops to explore the issue and exchange potential solutions among experts.

The pest is a highly destructive wood-boring beetle feeding on the phloem of ash trees. (Supplied)

Also, he believes that a particular bird species, the woodpecker, is one of the most effective ways to reduce the numbers of the beetle.

“It’s called the Arabian woodpecker, yet it only exists in Asir and in small populations, too,” he said.

According to Alouni, the Arabian woodpecker hears the insect inside the tree, hits the branch with its beak and removes it.

One of the strongest methods to contain pests is biological control, which uses other species to help the ecosystem naturally protect and restore its balance.

The Orussidae or the parasitic wood wasps, along with birds, are better alternatives to harmful pesticides in fighting the destructive beetle. (Wikimedia Commons)

One animal feeds on another to keep the environment balanced, such as using Orussidae — a parasitic wood wasp — or placing large numbers of chickens and other birds in forests and farms.

“It is called Orussidae in the United States … it kills insects very fast.”

Chemical methods can also be used, but Alouni does not endorse these due to their environmental risks.

 


gears up for Biban 2025, the region’s largest startup and SME event

 gears up for Biban 2025, the region’s largest startup and SME event
Updated 31 October 2025

gears up for Biban 2025, the region’s largest startup and SME event

 gears up for Biban 2025, the region’s largest startup and SME event

RIYADH: is set to host the Middle East’s premier entrepreneurial event, Biban 2025, on Nov. 5, at the Riyadh Front Exhibition and Conference Center. 

Organized by the Small and Medium Enterprises General Authority known as Monsha’at, the four-day event will run under the theme “Global Destination for Opportunity.”

Now in its 11th edition, Biban 2025 will convene a global audience from over 150 countries, the Saudi Press Agency reported. 

The forum will feature 200 local and international speakers and bring together 150 enabling entities from the government and private sectors, with several billion-dollar agreements and initiatives expected to be unveiled.

The event solidifies its role as the region’s largest entrepreneurial platform, connecting startups, investors, policymakers, and world-renowned experts. The goal is to forge strategic partnerships, explore high-value opportunities, and develop innovative ideas to fuel the growth of ’s entrepreneurial ecosystem.

Attendees are set to gain insights from more than 85 specialized workshops led by top experts, focusing on key areas such as finance, investment, management, marketing, digital transformation, and global expansion. 

The forum features seven main sections, designed to cover the various needs of entrepreneurs and small-to-medium enterprises. These dedicated sections address key areas such as financing, franchising, e-commerce, and market access.

Biban 2025 builds on the legacy of its previous editions, which have launched hundreds of successful projects and partnerships, empowering small and medium-sized enterprises to expand into local and global markets. 

The forum is a key initiative supporting Saudi Vision 2030, reinforcing the Kingdom’s position as a global hub for investment and opportunity.


New $80m fund to bridge Chinese industry and key Saudi sectors

New $80m fund to bridge Chinese industry and key Saudi sectors
Updated 31 October 2025

New $80m fund to bridge Chinese industry and key Saudi sectors

New $80m fund to bridge Chinese industry and key Saudi sectors

RIYADH: Digital technology, advanced manufacturing, and logistics are among the Saudi sectors set to benefit from an $80 million investment partnership between ewpartners and Chinese industrial hub Tianjin Binhai New Area.

Formalized in the presence of the Kingdom’s Public Investment Fund and its fund-of-funds platform Jada at the Future Investment Initiative conference in Riyadh, the move aims to introduce mature Chinese industrial projects and technologies into and the wider Gulf region.

This partnership directly supports Saudi Vision 2030 by leveraging Tianjin Binhai’s capabilities in alternative energy, smart manufacturing, and port logistics, combined with ewpartners’ network and investment expertise in the Middle East, according to a press release.

Jada CEO Bandr Mohammed Al-Homaly said: “Jada is committed to building a vibrant private capital ecosystem in , for example through bridging global expertise with local opportunities.”

He added: “The momentum we see from the partnership between ewpartners and Tianjin Binghai New Area, across logistics and technology for instance, reflects our shared dedication to Vision 2030 and to building a thriving private capital ecosystem in the Kingdom.” 

The goal is to accelerate industrial upgrading, enhance local supply chains, and strengthen the Kingdom’s manufacturing competitiveness.

Wu Di, vice chairman of the Administrative Commission of Tianjin Binhai Hi-tech Industrial Development Area, said: “We look forward to leveraging Tianjin’s strengths in smart manufacturing, technology, and port logistics to deepen cooperation with and the Middle East, and to build a long-term, open, and mutually beneficial international partnership.”

Jerry Li, co-founder and managing partner of ewpartners, said the partnership is not just about connecting capital— but bringing together industries and innovation capabilities. 

He added:: “Through this fund, we aim to bring China’s proven expertise in manufacturing and technological innovation to the Middle East, driving high-quality regional development.”

The fund marks a strategic step in strengthening industrial and investment ties between Asia and the Middle East, positioning as an emerging global hub for cross-border industrial cooperation.


leads GCC fixed-income issuances in Q3, Markaz says 

 leads GCC fixed-income issuances in Q3, Markaz says 
Updated 31 October 2025

leads GCC fixed-income issuances in Q3, Markaz says 

 leads GCC fixed-income issuances in Q3, Markaz says 

RIYADH: dominated the Gulf Cooperation Council region’s primary debt market in the third quarter of 2025, raising $20.32 billion through 36 issuances, representing a 62.7 percent year-on-year increase in value, according to a new analysis. 

In its latest report, Kuwait Financial Center, also known as Markaz, said that primary issuances of bonds and sukuk across the GCC totaled $38.74 billion through 137 issuances during the third quarter, marking a 32.4 percent increase from the same period in 2024, when issuances reached $29.29 billion. 

The debt market in the region — particularly in — has expanded significantly in recent years, driven by economic diversification efforts that have strengthened investor demand for fixed-income instruments. 

“As for issuance preferences, the third quarter of 2025 saw an increased appetite for sukuk issuances in the GCC, representing 52.6 percent of total issuances for the year. This is a change in issuance preferences from the third quarter of 2024, where more conventional bonds were issued,” said Markaz. 

According to the report, UAE-based issuers raised $5.82 billion through 57 offerings in the third quarter, marking a 47.3 percent decline compared with the same period in 2024. 

Qatar ranked third in terms of issuance value, with $5.69 billion raised through 29 issuances, followed by Kuwait, where issuers raised $3.42 billion through eight issuances, reflecting a 118.4 percent increase year on year.

Issuances in Bahrain surged 539 percent from a year earlier to $2.55 billion across four issuances, while Omani entities recorded the lowest total, raising $0.94 billion through three issuances.

Markaz added that total GCC corporate primary issuances grew 4 percent in the third quarter to $26.59 billion. Conventional issuances decreased 18.6 percent to $18.37 billion, while sukuk issuances rose sharply — up 202.7 percent during the quarter — reaching a total value of $20.37 billion for the year to date.

The financial sector led all GCC bond and sukuk issuances in the third quarter, with a total value of $21.53 billion, followed by government issuances at $11.1 billion, the report said. 


MENA IPOs raise $700m in Q3, EY report shows

MENA IPOs raise $700m in Q3, EY report shows
Updated 31 October 2025

MENA IPOs raise $700m in Q3, EY report shows

MENA IPOs raise $700m in Q3, EY report shows

RIYADH: Initial public offerings across the Middle East and North Africa raised $700 million in the third quarter of 2025, according to an EY MENA IPO Eye report. 

A total of 11 IPOs were recorded during the period, marking a 120 percent year-on-year increase in the number of listings, driven by mid-market activity. 

The strong performance extended to regional stock exchanges, with the MSCI Emerging Markets Index rising 25 percent, followed by the EGX 30 Index, which gained 23.3 percent, and the Boursa Kuwait Premier Market Index, which climbed 19.6 percent. 

The surge in IPO activity across MENA reflects broader economic diversification efforts and deepening capital markets. In , real GDP grew 5 percent in the third quarter from a year earlier, driven by strong gains in both oil and non-oil sectors, official data showed. 

In Egypt, the economy expanded 4.77 percent in the third quarter of fiscal year 2024/25, supported by an 18.8 percent year-on-year increase in non-oil manufacturing.

According to Brad Watson, EY-Parthenon MENA leader, the recent quarter “reflects the increasing depth and maturity of MENA capital markets, supported by a steady pace of listings across multiple sectors and geographies.” 

He added that companies are “becoming increasingly strategic with market timing — carefully assessing investor sentiment and macroeconomic conditions before going public.” 

accounted for the majority of IPO activity, completing eight listings that raised a combined $637 million.

Dar Al Majed Real Estate Co.’s $336 million listing on the Tadawul Main Market led the region, followed by Marketing Home Group for Trading Co. with $109 million and Sport Clubs Co. with $69 million.

An additional $124.1 million was raised through IPOs on the Nomu parallel market, spanning sectors such as retail, healthcare, and industrial services. Real estate accounted for 55 percent of proceeds on the main exchange.  

Egypt recorded IPOs from Bonyan For Development & Trade SAE and National Printing Co., while Morocco saw the listing of Vicenne S.A., signaling growing regional diversification. 

Gregory Hughes, EY-Parthenon MENA IPO leader, noted that “with lower oil prices, we continue to see economic diversification from non-oil revenues, and the sector focus in has shifted from healthcare and mobility to real estate, hospitality, construction, and retail.”  

Looking ahead, the pipeline for the fourth quarter of 2025 and beyond remains robust, with 19 entities across various sectors preparing to list.

leads with 13 planned listings, including Almasar Alshamil Education Co. and Al Romansiah Co., both of which have secured Capital Market Authority approval. In the UAE, ALEC Holdings PJSC debuted on the Dubai Financial Market in October. 

Outside the Gulf Cooperation Council, Algeria’s Diar Dzair and Morocco’s Gharb Papier Et Carton SA are awaiting regulatory approvals for planned IPOs. 

The outlook is supported by positive policy momentum, diversified investor interest, and increasing integration of environmental, social, and governance principles. 

Meanwhile, regulatory environments across the region continue to evolve.

In the UAE, updated governance reforms now permit the combination of board chair and CEO roles under specific conditions, while in , the Capital Market Authority has launched consultations on changes to market-making rules and foreign ownership limits aimed at enhancing liquidity and accessibility.