Efficient resource utilization, waste reduction and energy conservation can yield substantial cost savings. (Shutterstock)
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Saudi Arabia is home to some 245 publicly listed companies, all focused on maximizing value and delivering profits. So why should sustainability also be a priority?
Indeed, are corporate sustainability practices merely fleeting trends, regulatory obligations, government-driven initiatives, superficial reports or hollow efforts at reputation management?
Quite frankly, sustainability is not just an ethical imperative but a business one. It can significantly impact a company’s profitability, longevity and resilience — either positively or negatively. By embracing sustainability, companies can reshape their business models to drive revenue growth, improve margins, optimize capital allocation and mitigate risk.
Efficient resource utilization, waste reduction and energy conservation can yield substantial cost savings, enhancing a company’s bottom line. Similarly, sustainable and fair labor practices can resonate with consumers, fostering increased brand loyalty and customer preference.
Moreover, investing in sustainable technologies and practices can spur innovation, leading to the development of groundbreaking products and services. This can provide companies with a competitive edge, attract new customers and expand market share.
A strong commitment to sustainability can also reduce the cost of capital by improving creditworthiness. More than 500 academic studies have demonstrated a bidirectional positive correlation between corporate sustainability and financial returns.
Nonetheless, companies must approach sustainability with precision and meticulousness. Poorly executed sustainability initiatives can inadvertently erode value, while well-planned and properly implemented practices can significantly enhance a company’s performance.
The first step toward sustainable success should be a comprehensive assessment of a company’s current sustainability practices. This review should identify areas of strength and weakness, as well as opportunities for improvement.
Poorly executed sustainability initiatives can inadvertently erode value, while well-planned and properly implemented practices can significantly enhance a company’s performance.
Rodrigo Tavares
Organizations such as Clarity AI, MSCI ESG Ratings, Sustainalytics and the Upright Project can assess a company’s sustainability performance. By understanding the company’s sustainability baseline, businesses can develop a tailored roadmap to enhance their value proposition.
The second critical step is to identify and shortlist sustainability practices that can significantly impact a company’s financial performance and risk profile from a vast array of options. Tailoring these practices to each company’s unique circumstances remains one of the most complex challenges in corporate sustainability.
It is therefore important to avoid overextending sustainability efforts. While a strong commitment to sustainability is commendable, excessive or poorly executed initiatives can divert valuable resources and distract from core business objectives. A balanced approach, focused on material issues and measurable outcomes, is essential.
Over the past few weeks, Saudi Arabia has hosted several events to discuss the merits of corporate sustainability. These include the Future Investment Initiative, the Saudi Green Initiative Forum, the One Planet Sovereign Wealth Funds CEO Summit and the UN Convention to Combat Desertification’s COP16 conference.
In April, the Ministry of Economy and Planning launched the Sustainability Champions program, through which selected Saudi companies commit to transforming the sustainability practices of at least three other companies within the Kingdom, aiming to create a ripple effect that multiplies the impact across the economy.
Saudi Arabia is steadily building the foundational infrastructure to unlock the financial benefits of corporate sustainability. Now is the time for companies to embrace this challenge and seize the opportunities it offers.
Rodrigo Tavares is an invited full professor of sustainable finance at Nova School of Business and Economics, founder and CEO of the Granito Group, and former head of the Office of Foreign Affairs of the Sao Paulo state government.
Disclaimer: Views expressed by writers in this section are their own and do not necessarily reflect Arab News' point of view
Startups’ expansion into new markets signal strong investor confidence
Updated 55 sec ago
Nour El-Shaeri
RIYADH: Startups across the Middle East, North Africa and South Asia are securing fresh capital and expanding into new markets, signaling strong investor confidence.
Saudi-based business-to-business marketplace Sary has announced it will merge with Bangladesh’s commerce platform ShopUp to create the SILQ Group, a newly formed entity aiming to transform cross-border trade across South Asia and the Gulf.
The merger is supported by a $110 million funding package comprising an equity investment and a financing facility dedicated to SILQ Financial, the group’s financial services arm.
The funding round includes participation from a broad investor base, led by Sanabil Investments, and joined by Valar Ventures, Flourish Ventures and STV, as well as MSA Capital, VSQ and Rocketship VC. Wafra Investment, Peak XV and Prosus were also involved, along with Tiger Global, Endeavor Catalyst and Raed Ventures.
Qatar Development Bank also participated as a new investor, as SILQ sets its sights on establishing a significant presence in the Qatari market.
This strategic alliance signals a significant step toward deeper commercial integration between the two regions, aiming to serve micro-, small-, and medium-sized enterprises with improved access to global supply chains and embedded financial tools.
Founded in 2018 by Mohammed Al-Dossary and Khaled Al-Siari, Sary connects small retailers and merchants with manufacturers and lenders across Saudi Arabia and the Gulf region.
ShopUp, founded in 2016 by Afeef Zaman, offers similar services in Bangladesh, acting as a crucial link between mills, brands, and neighborhood retailers.
The newly formed SILQ Group combines these complementary regional networks, technology stacks, and market expertise.
Saudi-based business-to-business marketplace Sary has announced it will merge with Bangladesh’s commerce platform ShopUp to create the SILQ Group. (Supplied)
“Through this merger, we’re entering what’s set to become one of the world’s largest trade corridors — projected to reach $682 billion,” said Zaman, now CEO of SILQ Group.
“We’re in the front seat to serve some of the most exciting, fast-growing economies that are set to shape global consumption in the coming decades, giving them greater access to products from around the world.” He added SILQ will focus on eliminating friction in the B2B supply chain and enabling MSMEs with better technology and financial inclusion.
Al-Dossary, now CEO of SILQ Financial, said: “By merging our strengths, we’re not just expanding our reach — we’re revolutionizing how digital commerce serves Gulf’s merchants and South Asia manufacturers.”
He added: “This alliance brings together the best of both worlds — deep regional expertise and world-class technology to empower every business in our ecosystem where financial services are a cornerstone.”
Language AI platform STUCK? secures six-figure pre-seed round
Saudi-based artificial intelligence startup STUCK?, which offers real-time language support for English and Arabic content, has raised a six-figure pre-seed investment round to advance its product and market reach.
The funding was led by the UK-based Mena Tech Fund, with participation from the KAUST Innovation Fund and several angel investors from Saudi Arabia.
Founded in 2022 by Asmaa Naga, STUCK? delivers AI-powered language assistance to content teams, offering contextual help in writing, editing and translation.
The company aims to remove language barriers for both native and non-native speakers operating in bilingual business environments.
STUCK? provides services via an AI-first platform that combines natural language processing with generative tools optimized for business communication and brand tone consistency.
With this latest round, STUCK? plans to scale its engineering capabilities.
Rabbit launches in Saudi Arabia with Riyadh regional HQ
Cairo-born quick commerce startup Rabbit has expanded its operations to Saudi Arabia by opening a regional headquarters in Riyadh.
The move marks Rabbit’s first major international market entry, as it looks to replicate its rapid delivery model — offering grocery and everyday essentials in under 20 minutes — within the Kingdom’s growing e-commerce landscape.
Founded in 2021 by Ahmed Yousry, Walid Shabana, Ismail Hafezz and Tarek El-Geresy, Rabbit leverages a network of dark stores and a proprietary logistics platform to optimize ultra-fast last-mile delivery.
In Egypt, Rabbit has positioned itself as a leader in q-commerce with its tech-driven approach, and it now seeks to replicate this success in the Gulf by localizing its services for Saudi consumers.
We pride ourselves on being a hyperlocal company, bringing our cutting-edge tech and experience to transform the grocery shopping experience for Saudi households.
Ahmad Yousry, Rabbit co-founder and CEO
Rabbit’s expansion is supported by funding from investors including Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital.
Existing backers Global Founders Capital, Goodwater Capital, Hub71, Simple Capital and Foundation Ventures have also reaffirmed their commitment to the company’s growth strategy.
“We are delighted to announce Rabbit’s expansion into the Kingdom,” said co-founder and CEO Ahmad Yousry.
“We pride ourselves on being a hyperlocal company, bringing our cutting-edge tech and experience to transform the grocery shopping experience for Saudi households and delivering the best products — especially local favorites — in just 20 minutes. We’re building Rabbit Saudi for Saudis by Saudi hands.”
Sellou raises seed funding round at $3m valuation
Bahrain-based social commerce startup Sellou has closed a seed funding round at a $3 million valuation, aimed at scaling its video-powered marketplace platform across the MENA region.
Founded by Salman Al-Khalifa, Sellou allows users to create short, interactive videos to showcase and sell a wide range of products — ranging from handmade goods to general merchandise.
The platform is part of a rising wave of social commerce innovation, particularly in the Middle East, where mobile-first consumer behavior is driving the adoption of new retail formats.
Sellou’s app enables sellers to build storefronts with personalized video content and engage buyers through direct messaging, streamlining the e-commerce experience for both sides.
With fresh capital, Sellou intends to invest in expanding its engineering team, enhancing creator tools and entering new markets across the region.
Rentify raises $500k to grow rental payment platform
UAE-based proptech and fintech company Rentify has raised $500,000 in seed funding to accelerate the development of its rental payment and management platform.
The startup was founded in 2025 by Rashed Hareb and Rajneel Kumar with a vision to digitize rental transactions and improve transparency between tenants and landlords.
Rentify enables tenants to manage rental installments through a secure platform.
The company reports that over $408 million worth of property rentals have already been registered on the platform.
The seed funding will be used to further scale operations, integrate more properties across the Emirates, and introduce new fintech features including credit scoring and embedded finance solutions for tenants.
PayTic raises $4m to expand African operations
Morocco-based fintech startup PayTic has secured $4 million in funding to support its expansion into new African markets.
The round was led by AfricInvest, with participation from Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete.
Founded in 2020 by Imad Boumahdi, PayTic focuses on automating operational processes for card issuers and banks, such as reconciliation, chargeback management, and regulatory reporting.
The capital injection will enable PayTic to grow its presence in both North Africa and sub-Saharan Africa.
Haball raises $52m to grow Shariah-compliant supply chain financing
Pakistan-based fintech firm Haball has raised $52 million to scale its Shariah-compliant supply chain finance and payment solutions.
The round includes $5 million in equity and $47 million in strategic financing.
Zayn VC and Meezan Bank led the investment, with the capital earmarked for growth in Pakistan and expansion into the Middle East, starting with Saudi Arabia later this year.
Founded to address the credit gap in Pakistan’s SME ecosystem, Haball enables businesses to access Islamic finance products for inventory and procurement needs.
“Supply chain finance in Pakistan is nascent but is expected to be worth over $9 billion; driven by the severe financing gap faced by the country’s SMEs — less than 5 percent can access financing from commercial banks,” the company said in a statement.
The funding will allow Haball to introduce new services tailored to Islamic finance users, integrate further with enterprise resource planning systems, and partner with banks to onboard new business clients.
UAE president meets with US Congressional delegation in Abu Dhabi to discuss ties and regional stability
American delegation included Senator Joni Ernst and Congresswoman Debbie Wasserman Schultz
Updated 5 min 3 sec ago
Arab News
ABU DHABI: UAE President Sheikh Mohamed bin Zayed Al-Nahyan met with a delegation from the US Congress at Qasr Al-Shati in Abu Dhabi on Saturday, Emirates News Agency reported.
The American delegation included Senator Joni Ernst and Congresswoman Debbie Wasserman Schultz, both prominent members of the US legislative branch.
The meeting focused on enhancing the strategic partnership between the two nations across a range of sectors and reaffirmed their commitment to advancing mutual interests for the benefit of both peoples.
Discussions covered key regional and international issues, particularly efforts to bolster security and stability in the Middle East.
Both sides emphasized the importance of continued collaboration to promote peace, development, and prosperity across the region and beyond.
The meeting was also attended by senior UAE officials and Yousef Al-Otaiba, the Emirati ambassador to the US.
Abhishek plunders 141 as Hyderabad pull off second-highest IPL chase
Updated 11 min 30 sec ago
HYDERABAD: Abhishek Sharma lit up the IPL on Saturday with a spectacular 141 off 55 balls to steer Sunrisers Hyderabad to the second-highest successful chase in tournament history of 246 as they downed Punjab Kings by eight wickets. Earlier, Nicholas Pooran continued his incredible form with 61 to help Lucknow Super Giants end Gujarat Titans’ winning streak of four matches, coming out on top by six wickets. The 24-year-old Abhishek put on the best stand so far this season of 171 with opening partner Travis Head, who hit 66, in a chase achieved with nine balls to spare. “We didn’t talk (about) anything,” Abhishek said of the mood ahead of the chase. “It was just natural play for us. The partnership boosted me up.” Punjab hold the record winning chase of 262 against Kolkata Knight Riders at Eden Gardens last year. Abhishek’s individual score is the third highest in IPL history behind Chris Gayle (175 not out for Bengaluru) and Brendon McCullum (158 not out for Kolkata) and the largest in 12 years. “This one is very special, because I wanted to break that losing streak,” added Abhishek. “Losing four matches back to back was very tough. But we never talked about it in the team.” Shreyas Iyer’s 82 and a late blitz of 34 by Marcus Stoinis steered Punjab to 245-6, but the total proved inadequate as the Sunrisers openers took their team off the bottom of the 10-team table with just a second win in six matches. Abhishek started as he meant to go on, reaching his fifty in 19 balls. Australia’s Head fell to leg-spinner Yuzvendra Chahal after hitting nine fours and three sixes in his 37-ball knock. But Abhishek raised his century in only 40 balls as he roared, punched the air and waved a piece of paper with a message reading “this one for the orange army,” referencing the Sunrisers fans. Arshdeep Singh eventually dismissed Abhishek, who hit 14 fours and 10 sixes, with 24 to win and Heinrich Klaasen saw Hyderabad home with an unbeaten 21 off 14 balls. Earlier in Lucknow, opener Aiden Markram, who hit 58, and the in-form Pooran set up the home team’s chase of 181 before they secured victory over Gujarat with three balls to spare. Markram shared partnerships of 65 with fellow opener Rishabh Pant and 58 with Pooran, who struck his fourth half-century of the campaign to go past Gujarat opener Sai Sudharsan as the leading runscorer this season with 349, at a remarkable strike-rate of 215. “I think one thing is for sure is that we are happy to have Nicholas Pooran in our team,” said Pant of the West Indies star. “You want someone like him on your side and not batting against you. The way he is reading the game right now, the way he is batting is phenomenal.” Gujarat lost top spot in the 10-team table, with Lucknow behind in third with four wins from six matches. South Africa’s Markram stepped up in the absence of his in-form opening partner Mitchell Marsh, who missed the match due to the illness of his daughter. Skipper Pant was promoted to open but failed to strike form despite an early reprieve when Gujarat wicketkeeper Jos Buttler dropped a catch down the leg-side. Pant hit four boundaries before he lofted fast bowler Prasidh Krishna to deep third man, falling for 21 from 18 balls. Pant is still waiting to justify his record auction price of $3.21 million and has only managed 40 runs in five innings. Pooran hammered his fifty in 23 balls before falling to Afghanistan leg-spinner Rashid Khan. But he had already done the damage with one four and seven sixes in his 34-ball blitz. Impact substitute Ayush Badoni hit an unbeaten 28 and sealed the win with a four and six after a late wobble.
KARACHI: Chief Minister of Sindh, Syed Murad Ali Shah, on Saturday condemned the killings of Pakistani nationals in Iran, calling it an attempt to undermine relations between the two countries, as local media widely reported the killing of eight Pakistani workers in Sistan-Baluchestan.
So far, no statement has been issued by Pakistan’s foreign ministry or other federal authorities. The country’s embassy in Tehran has also not made any comments on the record, although local broadcaster Geo News quoted unnamed diplomatic sources as confirming the incident.
In a statement issued by his office, Shah condemned the attack and expressed grief over the killings.
“This is a heinous and despicable incident, and we condemn it,” he said. “The attack is an attempt by mutual enemies to damage Pakistan-Iran relations.”
The chief minister urged the Iranian government to take action against those responsible for the incident.
“There must be an immediate investigation and accountability of those involved,” he continued.
“Those who shed the blood of innocent people are open enemies of humanity.”
Earlier in the day, Afghanistan’s Khaama Press News Agency reported the attack took place in the early hours of the day in a village in Mehrestan district, located near the Iran-Pakistan border.
The outlet said the victims were auto mechanics.
However, the separatist Balochistan National Army (BNA) claimed responsibility for the attack later in the day, alleging that the slain workers were members of Pakistan’s premier spy agency.
Pakistan’s southwestern Balochistan province, which borders Iran and Afghanistan, has faced a low-level insurgency for nearly two decades.
Baloch separatist groups accuse the central government of exploiting the region’s natural resources, such as gold and copper, without benefiting the local population.
Islamabad denies the allegations, saying it is committed to improving the lives of Baloch residents through various development projects.
Thousands of Pakistanis, mostly from economically disadvantaged regions, frequently cross into Iran to take up informal work in sectors such as vehicle repair, construction and agriculture.
In January last year, nine Pakistani laborers were killed and three critically injured in a similar attack in Saravan city, also located in Iran’s southeastern border region.
The victims in that case had also been working at an auto repair shop.
The killings last year took place at a time when Pakistan and Iran were trying to mend diplomatic ties following tit-for-tat missile and drone strikes.
Oscar Piastri on pole in Bahrain for his 50th F1 start
Russell alongside on front row for Mercedes
Leclerc qualifies third, Antonelli fourth
Updated 12 April 2025
Reuters
SAKHIR, Bahrain: McLaren’s Oscar Piastri took pole position in Bahrain ahead of his 50th Formula One start with George Russell putting his Mercedes alongside the Australian on the front row for Sunday’s race.
Piastri’s championship-leading teammate Lando Norris qualified only sixth, a potentially significant blow in the title battle although closest rival Max Verstappen will start seventh for Red Bull.
Ferrari’s Charles Leclerc qualified third and Mercedes’ Italian rookie Andrea Kimi Antonelli fourth with Alpine’s Pierre Gasly fifth.
Piastri, who was also fastest in two out of three practice sessions, lapped the floodlit Sakhir circuit with a best time of one minute 29.841 seconds, 0.168 faster than Russell. The pole was his second of the season and his career.
“I’ve felt confident out there pretty much all weekend,” said Piastri, who has a great chance to slash the 13-point championship gap to Norris — who leads Verstappen by just one after three races.
“The others caught up a little bit closer than what I wanted but I still delivered the laps when it mattered, which was the most important thing at the end.”
Russell said he was shocked to finish so close to Piastri after struggling for grip in the afternoon’s final practice.
“I think if anybody said we’d have been within half a second of the McLarens we’d have taken it because we would have thought that would have been P3 on the grid. So to be second on the grid is a bonus,” he said.
“So lining up P2 is a great chance for tomorrow, but I think being realistic it will be a challenge to fight with Oscar.”
Carlos Sainz qualified eighth for Williams with Ferrari’s seven-times world champion Lewis Hamilton ninth and Red Bull’s Yuki Tsunoda 10th.
It was the first time this season that both Red Bulls had reached the final top 10 shootout.
Esteban Ocon crashed his Haas in the second phase, triggering red flags after he careered backwards across the gravel into the barriers.
The Frenchman said he was OK but took his time clambering out and was taken away in the medical car.
Australian rookie Jack Doohan qualified his Alpine 11th, his best qualifying session yet, and one place ahead of Racing Bulls’ Isack Hadjar.
Alex Albon failed to make it through the opening phase for the first time this season, the Williams driver qualifying only 16th.
Albon was then promoted to 15th — but too late to continue in the session — when Sauber’s Nico Hulkenberg had his lap deleted.
Hadjar’s teammate Liam Lawson, demoted from Red Bull to Racing Bulls after the opening two races, had another difficult evening and was only 17th fastest.
