1957 Ventures showcases innovative solutions at Fintech 24

Updated 05 September 2024

Arab News

September 05, 2024 09:14

Following its recent launch, 1957 Ventures is participating in the tech-focused Fintech 24 international conference, held for the first time in Saudi Arabia at the Riyadh Front Exhibition and Conference Center from Sept. 3-5.

1957 Ventures is a platinum sponsor of the conference, underscoring its commitment to driving fintech innovation in the Kingdom. CEO Emad Kashgari delivered a keynote highlighting that 1957 Ventures is backed by the largest fund of its kind in the region — a closed-end investment fund focused on venture capital exceeding SR800 million ($213 million).

Kashgari addressed the future of fintech in the Middle East and North Africa, emphasizing Saudi Arabia’s leadership in the sector. He noted that the Kingdom captured 58 percent of all venture capital invested in the MENA fintech sector in 2023, with market value projections reaching $2.4 billion by 2029.

He said that 1957 Ventures was founded to support this remarkable growth and contribute to achieving the Financial Sector Development Program goals outlined in Vision 2030. He added that fintech investments in the Kingdom have witnessed exponential growth over the past three years. In 2023 alone, investments exceeded $790 million, marking a sixfold increase compared to $91 million in 2021 and $239 million in 2022.

At the conference, 1957 Ventures showcased a number of innovative solutions in the field of fintech. This presence allows the firm to share its expertise and attract potential investors.

Further demonstrating its commitment to guiding and leading innovation in fintech, 1957 Ventures is conducting six workshops throughout the conference covering topics such as: Exploring the World of Fintech in Saudi Arabia, Governance and Compliance in Fintech, Marketing Strategies for Fintech, Building a Successful Fintech Company, Investing in Fintech, and Sustainable Growth in Fintech.

1957 Ventures will dedicate and double its efforts to building innovative financial technology companies and models. The firm will play a vital role in shaping the future of the banking and financial sector in the Kingdom by providing specialized support to ventures, including: funding and investment, guidance and mentorship, growth and sustainability expertise, technical and commercial expertise, access to target audiences.

Fintech 24 aims to advance the financial sector globally. Hosting this conference in Riyadh solidifies the Kingdom’s position as a leader in this field, driven by the increasing reliance on financial technologies. This event contributes to Saudi Arabia’s national plans and builds a thriving fintech ecosystem to enhance economic growth and diversification.

Chalhoub Group hosts skincare experts in Riyadh event

Group President of Chalhoub Group Patrick Chalhoub at the opening of The Skincare Edition: Unfiltered event in Riyadh.

Updated 1 min 36 sec ago

Arab News

November 10, 2024 00:13

Chalhoub Group hosts skincare experts in Riyadh event

Updated 1 min 36 sec ago

Arab News

November 10, 2024 00:13

Chalhoub Group hosted “The Skincare Edition: Unfiltered” in Riyadh, in collaboration with Hia Hub 4.0, from Oct. 30 to Nov. 3. The event took place at the bustling JAX district, offering an unparalleled skincare experience featuring immersive workshops, insightful panel discussions, and live demonstrations.
The five-day program featured both professional and B2C talks, offering deep insights into personalized skincare. Attendees had the opportunity to learn directly from experts through panels and interactive sessions designed to transform skincare routines and ideologies. During the summit, Chalhoub Group unveiled the findings from its intelligence report on “Gen Z’s Skincare Evolution in GCC.”
Featured speakers and panelists included a lineup of dermatologists, experts and industry leaders, including Chairman of Shiseido EMEA Franck Marilly, MD of L’Oréal Middle East Laurent Duffier, CEO of Waldencast Michel Brousset, Founder and CGO of Waldencast Hend Sebti, Group President of Chalhoub Group Patrick Chalhoub, Regional Managing Director of Sephora Middle East Hasmik Panossian, VP Retail Commercial and Business Development EMEA of Estée Lauder Companies Henk van der Mark, Managing Director of Faces Beauty ME Nicole Nitschke, and Group President of Finoli Pierre Juhen, among others.
Leading tech companies discussed the latest innovations in skincare, with contributions from Anna Germanos, group director of CPF, retail, e-commerce and luxury, META; Hala Zgeib, head of luxury, MENA Snap Inc.; and Aref Yehia, head of retail and e-commerce, TikTok.
Global researchers and experts such as Jennifer Palmer, senior vice president, global skincare category and brand scientific authority strategy of Estée Lauder Companies, and Dr. Annie Black, international scientific director of Lancôme, also shared insights.
Visitors also attended engaging sessions with their favorite creators like Noor Stars and an inspiring panel featuring Yara Namlah and Amani Al-Ayed on “Generational Beauty: Inheriting Skincare Wisdom.” Another insightful session was “Facial Fitness: A Skincare Masterclass with Face Gym Founder Inge Theron,” where Inge talked about her journey as a founder and on facial fitness. The event featured brand experiences that encompassed all aspects of skincare, including wellness. Visitors explored the “Wellness Hub” by L’Occitane and “Skincare Nation” by Faces to enhance their skincare journey.
The event also feature unique workshops such as “Decoding Skincare with The Ordinary,” “Potential Has No Age by Shiseido,” “The Power of Science-backed Skincare and Beauty Tech with Lancôme,” “Discover The Guerlain Skincare Essentials With The Secret Of Facialist Gesture,” and “Unlocking The Secrets To Youthful, Radiant Skin.” The workshops offered attendees the opportunity to deep-dive into tailored skincare solutions.

Topics: Chalhoub Group

GFH and GWC join forces to develop logistics facilities

Razi Almerbati, CEO of GFH Capital, and Matthew Kearns, deputy CEO at GWC.

Updated 53 sec ago

Arab News

November 10, 2024 00:06

GFH and GWC join forces to develop logistics facilities

Updated 53 sec ago

Arab News

November 10, 2024 00:06

GFH Financial Group, a financial institution with a strong focus on the logistics sector, has signed a heads of terms agreement with Gulf Warehousing Company, one of the GCC’s top logistics providers. The collaboration will see GFH power GWC’s expansion plans by developing 200,000 square meters of Grade “A” logistics facilities across key locations in Saudi Arabia, including Riyadh, Jeddah and Dammam.
As part of the heads of terms, GFH will finance and oversee the development of these state-of-the-art logistics spaces, tailored to meet GWC’s specific operational requirements. GWC will lead the technical development of these facilities while being the anchor tenant once completed. GWC will leverage its expertise in logistics and supply chain solutions to ensure the facilities are optimized to serve the clients’ needs. This signing is part of GFH’s ongoing commitment to strengthening Saudi Arabia’s logistics infrastructure, which aligns with the Kingdom’s Vision 2030 objectives to diversify the economy and establish the country as a global logistics hub.

Our collaboration with GWC marks a significant step in advancing Saudi Arabia’s logistics infrastructure, says Razi Almerbati, Chief Executive of GFH Capital

Razi Almerbati, chief executive of GFH Capital, said: “Our collaboration with GWC marks a significant step in advancing Saudi Arabia’s logistics infrastructure. By combining GFH’s financial strength and focus on the logistics sector with GWC’s logistics prowess, we are confident this development will further cement Saudi Arabia’s position as a logistics leader in the region.”
Matthew Kearns, deputy CEO at GWC, said: “This heads of terms with GFH will open the horizon to tailored supply chain solutions that meet the increasing demand for high quality logistics solutions in the Kingdom of Saudi Arabia, further supporting the Kingdom’s Vision 2030. GWC is proud to deploy its logistics and supply chain expertise, offering world-class logistics solutions for clientele across the Kingdom.”
The heads of terms state that GWC will be responsible for operating the logistics facilities to serve its expanding client base across the Kingdom, incorporating cutting-edge technologies, highest sustainability standards and optimal operational infrastructure to meet the highest industry standards. The facilities will provide GWC with the capacity to manage and optimize its logistics operations efficiently, supporting the company’s growth and enhancing the country’s logistics capabilities.

Topics: GFH and GWC

SingleView showcases transformative open banking solutions

Photo: (@SingleViewCo)

Updated 17 sec ago

Arab News

November 10, 2024 00:00

SingleView showcases transformative open banking solutions

Updated 17 sec ago

Arab News

November 10, 2024 00:00

SingleView, a leader in fintech and open banking services, participated in the Seamless Saudi 2024 exhibition and conference, held at the Riyadh Front Exhibition and Conference Center from Oct. 22-24. The company highlighted its dedication to driving innovation in digital commerce through its cutting-edge open banking services.
During the event, SingleView announced two strategic partnerships with prominent industry players, namely Al-Dawaa Pharmacy and Lendo Saudi Arabia. These partners will leverage SingleView’s innovative platform to enhance their financial operations, marking a significant step in advancing their digital transformation across key sectors in Saudi Arabia. These partnerships reflect SingleView’s growing influence in the financial sector and its mission to support the acceleration of digital innovation.

HIGHLIGHT

During the event, SingleView announced two strategic partnerships with prominent industry players namely, Al-Dawaa Pharmacy and Lendo Saudi Arabia.

Abdulrhman Alarifi, chief executive of SingleView, said: “These collaborations highlight SingleView’s unwavering drive to redefine financial services in Saudi Arabia. By harnessing the power of open banking, we are not only transforming the financial landscape but also paving the way for a more innovative, inclusive, and digitally empowered future.”
Alarifi joined a keynote panel on Oct. 23, discussing Saudi Arabia’s journey in taking open banking from vision to reality and emphasizing its impact in driving forward financial advancements.
Eugene Williams, head of product at SingleView, captivated crowds with his presentation on the topic “Open Banking PIS: Why Should I Care?” delving into the importance of payment initiation services and how businesses can benefit from these advancements.
Headquartered in Riyadh, SingleView is a fintech company offering open banking and financial solutions. With partnerships established with all major Saudi banks, the company is dedicated to transforming financial services on a global scale.

Their mission is to empower businesses in every industry to drive profitability, enhance customer engagement, and achieve long-term success.

Topics: SingleView

Saudia Cargo names Loay Mashabi as new CEO

SkyTeam Cargo, has announced the appointment of Loay Mashabi as its new chief executive officer

Updated 07 November 2024

Arab News

November 07, 2024 14:22

Saudia Cargo names Loay Mashabi as new CEO

Updated 07 November 2024

Arab News

November 07, 2024 14:22

Saudia Cargo, a leader in global air cargo transportation and member of the biggest air cargo alliance SkyTeam Cargo, has announced the appointment of Loay Mashabi as its new chief executive officer, effective Jan. 1, 2025. He is also the managing director of Saudia Cargo.

Mashabi succeeds Teddy Zebitz as CEO, who has led Saudia Cargo to record success, driving innovation and solidifying its leading position. Zebitz will continue to serve as a member of the board of directors.

“During Teddy’s tenure, we have achieved remarkable milestones and navigated through numerous challenges, all while maintaining our commitment to performance and service excellence,” said Abdulkareem Abualnasr, board chairman of Saudia Cargo. “Teddy’s vision and leadership have been instrumental in building the capabilities of our company and in executing our strategies, and we are deeply grateful for all his valuable contributions.”

Mashabi joined Saudia Cargo as board member in August 2021 and became the managing director in October 2023, bringing a wealth of experience in the transportation and logistics sector. Prior to joining Saudia Cargo, he served as deputy minister for logistics services at the Ministry of Transportation and Logistics Services, and deputy governor for planning and development of the General Authority of Customs. He also served as CEO of the inception phase of the Soudah Development at the Public Investment Fund.

Under Mashabi’s leadership, Saudia Cargo will focus on accelerating its growth, expanding its international network, and advancing Saudi Vision 2030’s logistics sector goals, enabling the Kingdom’s transformation by securing essential goods and providing customer-centric solutions that help businesses thrive and industries grow.

He holds an executive MBA from London Business School and a BSc in petroleum engineering from King Fahd University.

Shein unveils Saudi-inspired Fall/Winter collections

Shein unveiled its latest Fall/Winter 2024 collections to an audience of eager fashion enthusiasts.

Updated 06 November 2024

Waad Hussain

November 06, 2024 17:41

Shein unveils Saudi-inspired Fall/Winter collections

Updated 06 November 2024

Waad Hussain

November 06, 2024 17:41

RIYADH: Global fashion powerhouse Shein made a bold statement in Riyadh on Nov. 2, unveiling its latest Fall/Winter 2024 collections to an audience of eager fashion enthusiasts. Themed “Pearls to Radiant Glow, A Journey Through Arab Splendor,” the event merged tradition with trend, offering a fresh take on fashion that speaks to Saudi Arabia’s youth.

The immersive show showcased three collections — Dune Silhouette, Sunset Glow, and Ocean Garden — each reflecting a unique aspect of Saudi culture and landscape. With Riyadh’s style-conscious crowd in attendance, the collections represented the spirit of Saudi youth by drawing on elements of the natural world, from deserts to sunsets to marine life. Every piece seemed to embody the duality of Saudi identity, balancing heritage with a modern, forward-looking aesthetic.

The Dune Silhouette collection set the stage with designs inspired by the dynamic patterns of sand dunes. Embracing khaki hues and earthy tones, the collection used asymmetric tailoring and layered skirts to evoke the fluidity of desert landscapes. The pieces offered a fashionable twist on classic workwear, making a strong impression on attendees who value style that is both sophisticated and wearable.

Meanwhile, Sunset Glow captivated audiences with its warm color gradients that transition from deep orange to soft purples. Flowing silhouettes and delicate detailing, like chiffon accents and tassels, added a touch of romance to the collection. The designs captured the drama and beauty of a Saudi sunset, appealing to those drawn to a softer, more ethereal look.

Bringing a vibrant contrast to the event, Ocean Garden turned to the sea for inspiration, featuring youthful colors, floral prints, and whimsical embellishments like pearls and diamond accents. The collection’s playful spirit shone through with lotus leaf pleats and unique patterns, making it a standout for fashion fans seeking fresh, lively pieces.

Adding a layer of excitement, Shein welcomed more than 30 prominent fashion influencers to the event, including popular figures like Noha Nabil, Almaha, and Fouz, whose attendance highlighted the show’s influence on the region’s style scene. Their presence not only underscored the cultural relevance of the collections but also drew attention to the unique blend of Saudi heritage with Shein’s modern, accessible fashion philosophy. In addition to influencers, several dedicated fans of the brand were invited via social media giveaways and in-app registrations, creating a direct connection between Shein and its loyal customer base.

Another highlight of the evening was the attendance of Bayan Yasien, a celebrated Saudi artist who recently collaborated with Shein on a “Back to School” collection. This partnership, launched in September, was inspired by Saudi culture and reflects Shein’s commitment to celebrating regional artistry. Yasien’s involvement reinforced Shein’s dedication to honoring local creativity while fostering relationships within the Saudi artistic community.
With these new collections, Shein continues to expand its presence in Saudi Arabia by catering specifically to the tastes and interests of Saudi consumers. The event marked another step in Shein’s strategy to create meaningful engagement with its customer base, blending global fashion trends with elements of local culture. Fashion fans can explore the collections exclusively on the Shein website and app, while enjoying exclusive promotions.

For those who wish to experience the collection firsthand, Shein will host a pop-up showroom at Boulevard Riyadh starting on Nov. 15, offering a chance to view iconic pieces up close.

Shein’s Fall/Winter 2024 show in Riyadh underscored the brand’s growing influence in the Middle East, presenting a fusion of Arab splendor and contemporary style. As the collections hit the market, Shein’s approach to capturing local identity through global fashion reflects a broader trend within the industry, making the brand a prominent player in the Saudi fashion landscape.

1957 Ventures showcases innovative solutions at Fintech 24