Young Saudi CEO says making money shouldn’t be No. 1 priority

Adwa Al-Dakheel, CEO of Direct Influence, at the ‘Youth in Business’ panel discussion at the Saudi-US CEO Forum in Riyadh Saturday.
Updated 20 May 2017

Young Saudi CEO says making money shouldn’t be No. 1 priority

RIYADH: Disregarding the singular quest of making money when starting a business is the top advice offered to entrepreneurs by Adwa Al-Dakheel, the 25-year-old CEO of the Direct Influence media agency.

Society today needs businesses that can cater straight to its needs, the young Saudi executive said on the sidelines of the Saudi-US CEO Forum on Saturday.

“Today if you want to succeed; if you want your business to become a billion-dollar business, you need to think of the society first,” she told Arab News.

“I think the old theory of (starting) a business just to make a profit is over,” she added, adding that money will come eventually if you’re doing the right thing and if the idea is beneficial.

Al-Dakheel, who is also a stock analyst, triple majored in business management, entrepreneurship and psychology in Boston, Massachusetts. She said the educational infrastructure in Saudi Arabia is “booming and is becoming bigger and better,” something that calls for knowledge transfer between Saudi and foreign students.

“I think the idea and theory of knowledge transfer between Saudi Arabia and the US is extremely needed. In the past it has been one-sided, but in today’s age it is actually moving in both directions.”

She hopes to see more students coming to study in Saudi Arabia from the US. A current example of that are students coming from abroad to study at King Abdullah University of Science and Technology (KAUST) in Thuwal and Mohammed Bin Salman College (MBSC) in King Abdullah Economic City (KAEC).

The young businesswoman, who became a CEO at the age of 23, said that Saudi Arabia needs to invest more in employment, job development, and education as well. “It’s not right for us to just employ people, get them a salary and just ask them to work. We should give them knowledge; we should educate them because a year later, we don’t want them to be the same people.”

Samsung delays Galaxy Fold media events in China

Updated 22 April 2019

Samsung delays Galaxy Fold media events in China

  • Instead of plaudits ahead of the phone’s launch on April 26 in the US, Samsung has instead received brickbats
  • The hashtag #foldgate trended on Twitter because of the smartphone issues

SEOUL: Smartphone maker Samsung postponed media events for its Galaxy Fold planned for this week in Hong Kong and Shanghai, a company official said, days after reviewers of the foldable handset reported defective samples.
The official did not elaborate on reasons or rescheduling.
Instead of plaudits ahead of the phone’s launch on April 26 in the United States, the South Korean conglomerate has been blighted by technology journalists reporting breaks, bulges and blinking screens after using their samples for as little as a day.
Samsung said it received “a few” reports of damage to the displays of samples of the $1,980 handset, raising the specter of the combustible Galaxy Note 7 three years ago which the firm ultimately pulled from shelves at massive cost.
The reviewers’ reports of broken screens went viral online and prompted the creation of hashtag #foldgate on Twitter.
Samsung has hailed the folding design as the future in a field that has seen few surprises since Apple’s iPhone in 2007. Chinese rival Huawei Technologies has also announced a folding handset, the Mate X.
The Samsung official on Monday said it had no change to its previously announced release date in the United States.
It plans to begin South Korean and European sales in May, and Chinese sales from an undisclosed date.