Monsha’at launches new training programs to empower Saudi entrepreneurs

Under this Monsha’at Academy initiative, entrepreneurs will receive guidance on how to catalyze the growth of their operations, as well as enhance product and store management. Supplied
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Updated 23 October 2023
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Monsha’at launches new training programs to empower Saudi entrepreneurs

RIYADH: A series of specialized training programs has been introduced to empower Saudi entrepreneurs with the essential skills needed to initiate their ventures. 

The General Authority for Small and Medium Enterprises, also known as Monsha’at, has announced these courses to cater to business owners in the micro, small, and medium-sized enterprises sector. 

Under this Monsha’at Academy initiative, entrepreneurs will receive guidance on how to catalyze the growth of their operations, as well as enhance product and store management, according to a report by the Saudi Press Agency. 

The initiative aims to assist enterprises in making informed investment decisions and acquaint them with various financing solutions. 

Monsha’at has urged small businesses to take advantage of this opportunity, as the training program will enable them to manage their operations effectively, ultimately contributing to Saudi Arabia’s economic diversification goals as outlined in Vision 2030. 

Saudi SMEs are poised to play a significant role in achieving the Kingdom’s objectives of reducing the unemployment rate from 11.6 percent to 7 percent and increasing women’s workforce participation from 22 percent to 30 percent by the end of this decade. 

In August, a report released by Monsha’at indicated a 2.6 percent increase in the Saudi small business landscape during the second quarter of 2023, with the number of such firms growing from 1.2 million in the first quarter to 1.23 million. 

The report further highlighted that, at the end of the second quarter of this year, Saudi Arabia had 17,888 medium-sized companies, 152,825 small-sized establishments, and 1.06 million micro-sized firms. 


Trump meets UAE national security adviser, discusses strategic partnership prospects

Updated 16 min 54 sec ago
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Trump meets UAE national security adviser, discusses strategic partnership prospects

  • Sheikh Tahnoon is on an official visit to the US where he will meet with senior US administration officials and business leaders

DUBAI: UAE National Security Adviser Sheikh Tahnoon bin Zayed Al-Nahyan met with US President Donald Trump at the White House on Wednesday in the presence of senior US officials.

“Sheikh Tahnoon bin Zayed and the US President discussed opportunities to strengthen the long-term strategic partnership between the UAE and the US and explored ways to enhance it to serve their shared interests,” the state run WAM news agency reported.

Sheikh Tahnoon is on an official visit to the US where he will meet with senior US administration officials and business leaders.

During his meeting with Trump, Tahnoon affirmed the UAE’s commitment to strengthening economic ties with the US by expanding partnerships.

Sheikh Tahnoon also met with US National Security Adviser Michael Waltz and discussed ways to advance bilateral relations and the latest developments on matters of mutual interest.


Bento’s refreshed UAE to go all out for a historic second World Cup appearance

Updated 22 min 8 sec ago
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Bento’s refreshed UAE to go all out for a historic second World Cup appearance

  • Paulo Bento’s team face Iran at Azadi Stadium on Thursday, before taking on North Korea at Riyadh’s Prince Faisal bin Fahd Stadium

DUBAI: Destiny’s call bellows increasingly louder for a refocused and retooled UAE set to restart a World Cup 2026 qualification quest imbued with fresh momentum.

Heroics were required for November’s clashes — and Paulo Bento’s men emphatically delivered with a 3-0 beating of Kyrgyzstan and an epochal 5-0 rout of perennial rivals Qatar. The interregnum between Group A activities for the third-placed side may have included December’s winless early exit from the 26th Arabian Gulf Cup, but nothing can distract from their mission to earn just a second-ever berth at the globe’s premier sporting event.

The Whites’ prospects transformed from waning to tangible in the space of two matches. A consolation prize of a fourth-round slot is now almost secured, yet second-placed Uzbekistan in the final automatic-qualification berth are tantalizingly in range on 13 points to the UAE’s 10 points.

Arguably Asia’s sternest test awaits away at Iran’s cavernous Azadi Stadium on Thursday when the penultimate window kicks off, before a trip into the unknown against bottom-placed North Korea at Riyadh’s Prince Faisal bin Fahd Stadium.

These exacting challenges will be tackled with another wave of newly naturalized ADNOC Pro League stars in 2017 FIFA Club World Cup Silver Ball winner Caio, Sharjah club-mate Luan Pereira, pacey Al-Wasl loanee Jonatas and granite Al-Wahda center-back Alaeddine Zouhir.

For local talents, outstanding 21-year-old Shabab Al-Ahli Dubai Club goalkeeper Hamad Al-Meqebaali presses for a debut and metronomic Al-Jazira midfielder Abdullah Ramadan returns from serious injury.

Rise, once again, to the occasion this month and history could be close at hand. There is no risk of getting carried away under the circumspect Bento’s care.

“We are striving for a better position in these qualifiers, and we are working towards that, one match at a time and step by step,” he told reporters, according to Emarat Al Youm newspaper. “As for me, I am happy with the players, especially since they are performing well.

“I expect a very strong match against the Iranian team, which is one of the strongest teams in the group and also one of the strongest teams in Asia. We have suffered in previous matches against these teams, but we have learned from that and will do our best.

“In some matches, the team did not deserve to lose.

“The current camp is the shortest compared to previous national team camps, as it is always better to prepare in sufficient time. But we must deal with the situation.

“We are working to get the national team players fully prepared. We started the camp with a specific group of players, but training continued after all the players had joined.”

The failure of a “Golden Generation” headlined by Omar Abdulrahman, Ahmed Khalil and Ali Mabkhout, plus their successors, to successfully navigate recent cycles ensured skepticism enveloped ambitions of playing at an expanded World Cup 2026.

Blowing this away has been Bento’s aim since his summer 2023 arrival. The ex-Portugal and South Korea boss has exhibited singular focus on this global target to the detriment of forgettable Gulf Cup and Asian Cup campaigns.

A good problem exists about how, and when, to integrate stellar introductory call-ups.

Caio is the unquestionable standout addition. The multifaceted 30-year-old has produced 14 goal contributions in 17 top-flight runouts as Sharjah cling on in the title race.

A mouth-watering prospect exists of an interchangeable attack in Bento’s 4-2-3-1 formation, with Caio at the fulcrum plus a selection taken from Shabab Al-Ahli flyers Yahya Al-Ghassani and Harib Abdalla, and Brazil-born options Fabio De Lima, Caio Canedo, Bruno Conceicao and Jonatas.

Six-goal international marksman Sultan Adil is also surprisingly in the mix, despite playing zero club minutes throughout the 2024-25 season.

Wasl talisman Ali Saleh’s international absence since November’s injury issues has continued. A tally of nine goals in 18 league runouts for an evergreen Mabkhout at Al-Nasr did not prove enough to be reintegrated.

Pressure is also applied to Jazira center-back Khalifa Al-Hammadi’s continuing starting spot by Wahda pair Lucas Pimenta and Zouhir. Al-Ain’s Kouame Autonne is a lock.

Getting the blend right between new options and old ones is crucial. A solid third round to date could deliver an exceptional ending, returning the UAE to the World Cup for the first time since 1990 and avoiding the lottery of potentially multiple future qualification stages.

They attack these fixtures in the wake of this stage’s joint-second-biggest victory (5-0 versus Qatar). Only resurgent Iraq (four goals) and all-conquering Japan (two goals) have conceded fewer.

June 5’s meeting with Uzbekistan looms large. A dream return of four points from six this month would make Group A’s runners-up feel the heat from the UAE’s dogged pursuit and hold off a chastened Qatar in fourth.

The Whites, certainly, cannot afford a repeat of October’s dreary 1-1 draw with North Korea at this juncture.

Setting the platform now for future glory is the goal Bento and his recalibrated UAE are dedicated toward.

November’s emboldening results mean legendary status is within reach. They must seize it in March.


Saudi Arabia’s weekly POS transactions climb 4% to $3.6bn 

Updated 31 min 3 sec ago
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Saudi Arabia’s weekly POS transactions climb 4% to $3.6bn 

RIYADH: Saudi Arabia’s point-of-sale transactions climbed 4 percent to SR13.6 billion ($3.6 billion) in the week ending March 15, driven by increased spending across multiple sectors. 

The latest data from the Kingdom’s central bank, also known as SAMA, showed jewelry led the growth, registering the largest jump in transaction value — up 31.1 percent to SR419.2 million. The sector also saw a 29.5 percent rise in the number of transactions, reaching 300,000. 

The clothing and footwear sector followed, recording a 22.8 percent increase in transaction value to SR1.5 billion, securing the third-largest POS share. Hotel spending ranked next, rising 19.1 percent to SR352.6 million, with transactions up 20.1 percent to 649,000. 

Transportation spending edged up 12.4 percent to SR889.2 million, while restaurants and cafes saw an 11.5 percent increase, totaling SR1.4 billion. 

The smallest spending gains were in gas stations, rising by 3 percent to SR865.8 million, and health services, which increased by 3.1 percent to SR837.2 million. 

Education saw the steepest decline, dropping 29.9 percent to SR140.6 million, following a 144.6 percent surge the previous week as students returned from winter break. 

Spending on electronics dipped 5.4 percent to SR150.5 million, while recreation and culture dropped 1.7 percent to SR261.9 million. 

Food and beverages — the sector with the biggest share of total POS value — recorded a 6.5 percent decline to SR1.9 billion. Miscellaneous goods and services claimed the second-largest share, with a slight 0.05 percent dip to SR1.66 billion. 

The top three categories — food and beverages, miscellaneous goods and services, and clothing and footwear — accounted for 37.4 percent of the week’s total spending, amounting to SR5.1 billion. 

Geographically, Riyadh dominated POS transactions, representing around 34.7 percent of the total, with expenses in the capital reaching SR4.7 billion — a 3.2 percent increase from the previous week. 

Jeddah followed with a 7 percent rise to SR1.9 billion, while Makkah ranked third, up 8.2 percent to SR818.4 million. Abha saw the smallest increase, inching up 2.2 percent to SR142.8 million. 

In transaction volume, Makkah recorded 9.6 million deals, up 6.5 percent, while Buraidah reached 4.2 million transactions, rising 5.2 percent.


5 things to look out for in Saudi Arabia’s World Cup qualifiers

Updated 47 min 48 sec ago
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5 things to look out for in Saudi Arabia’s World Cup qualifiers

  • Herve Renard’s Green Falcons take on China in Riyadh on Thursday before next week’s away clash in Japan

LONDON: Qualification for the 2026 World Cup enters a crucial phase in the next few days as Saudi Arabia host China at home on Thursday in Riyadh and then head to Japan for Tuesday’s clash.

After six games of 10 in the third round of qualification, Japan are nine points clear, leaving the other five countries chasing the other automatic spot.

The battle is fierce, with just one point separating Australia in second and China in sixth, with Indonesia, Saudi Arabia and Bahrain in between.

There is much to talk about, but here are five things to look out for in the coming week.

China match a must-win for Saudi

There’s no getting around the need for victory. Saudi Arabia have won just one of six games so far in Group C and hopes of automatic qualification are very much in the balance. The good news for coach Herve Renard is that rivals for second spot have also been stumbling. There is still time for a team to make a break for North America and leave the others behind.

The other good news for Renard is that China are the only team that the Green Falcons have beaten so far, thanks to a last-minute header from Hassan Kadesh. Saudi Arabia are clear favorites to win, but the pressure is on.

China will be delighted with a point but know that if they can keep things tight and frustrate the home team — and given that Saudi Arabia have not scored in the last four qualifiers since that Kadesh goal then this is a real possibility — then the atmosphere in Riyadh could become anxious quite quickly, providing the visitors with an opportunity to go home with a win. Somehow, the home team need to start taking chances.

Renard has been bold and picked players in form

The Frenchman returned in October to take over after a poor start during Roberto Mancini’s stint as coach of Saudi Arabia. His first game back was a fighting 0-0 draw in Australia that was followed by a 2-0 defeat in Indonesia that has made things difficult.

Renard has made a number of changes to the squad since that traumatic night in Jakarta and added new faces — players like Jehad Thakri, who has been impressive in defense with Al-Qadsiah and Muhannad Al-Saad who has been in action for Dunkerque in the French second tier. Intriguingly, there may be a debut for 32-year-old striker Abdullah Al-Salem. The powerful forward has been in form for Al-Khaleej, reaching double figures for the club in the lower reaches of mid-table.

Picking players who are playing well for clubs is always a good idea but not always that common in international football. If one of the new players can step up and repay Renard’s faith, then it may just make the difference.

A trip to Japan is as tough as it gets but …

In October, Japan came to Jeddah to win 2-0 in a clinical display. It was already clear then that the Samurai Blue were on their way to the World Cup as Group C winners. It is highly likely that the team will beat Bahrain at home, they won 5-0 in the away fixture, to become the first team to qualify for the 2026 World Cup.

That can be good news for Saudi Arabia. Going east to face a Japan desperate for points would be the toughest task possible in Asian football, but if the hosts have already qualified and in something of a party mood, then there is hope.

Saudi Arabia finished above Japan in qualification for the 2022 World Cup and while that is not going to happen this time, there is always a chance in a one-off match.

The stars need to step up on long trip

It remains to be seen if in-form midfielder Mohamed Kanno is fit to face China after picking up an injury, although the Al-Hilal star will be hoping to make the long trip east and take the pitch at Saitama Stadium. His energy, drive and experience will be needed.

There may be some necessary new blood in the squad but Saudi Arabia will also look to Salem Al-Dawsari, the talisman, to make something happen with a moment of magic. The same with Saud Abdulhamid. Japan are a team full of European-based stars but the right-back has some form with Roma.

It is not just about dealing with the 90 minutes on the pitch, but the whole trip. It is unfortunate that while Japan have two games in the same stadium and can rest and relax, Saudi Arabia face China in Riyadh and then face a long journey across six time zones. Such is life in Asian football, but the stars have been here before and need to show how it is done.

Whatever happens, it’s not over

Even if there are a pair of wins in the coming days, there is still work to do, and the same would be true with two defeats. There are two more qualifiers in June in Bahrain and then a final clash against Australia. There are two automatic spots, one almost certainly reserved for Japan and one other, but there is another route. The six teams that finish third and fourth in the three groups will advance to another stage to compete for two more World Cup spots.

Of the five teams in the hunt for second, Australia and Saudi Arabia would consider finishing third as a disappointment, but Bahrain, China and Indonesia would almost certainly feel differently. That adds an extra dimension to the coming games. Whatever happens, Saudi Arabia need to ensure that they do not slip out of the top four while they battle for a place in the top two.


Iraq makes rare seizure of ship suspected of fuel smuggling in Gulf

Updated 38 min 10 sec ago
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Iraq makes rare seizure of ship suspected of fuel smuggling in Gulf

BAGHDAD: Iraqi naval forces have seized an unidentified ship in Iraqi territorial waters in the Gulf suspected of smuggling fuel, the naval forces said in a statement.
Fuel smuggling is common in Gulf waters, where heavily subsidised fuel from some countries is sold on the black market to buyers across the region, though it is relatively rare for Iraqi authorities to seize ships.
A naval patrol boat intercepted the ship on Tuesday after receiving intelligence about suspected illegal activity, according to the navy statement issued late on Tuesday.
The navy said an Iranian captain, eight Indian nationals, and two Iraqi crew members were onboard the ship.
The navy released a picture of the ship, in which no name was visible. It gave no further details about the vessel.
The ship was towed to Umm Qasr naval base for further investigation, and the crew has been handed over to the local police, the navy said.