Endeavor honors its Saudi entrepreneurs

Updated 20 May 2014

Endeavor honors its Saudi entrepreneurs

Endeavor, a non-profit organization that is credited with pioneering the concept of high-impact entrepreneurship in emerging and growth markets around the world, celebrated its entrepreneurs in Saudi Arabia with the support of the Minister of Commerce and Industry Tawfiq Al-Rabiah in the presence of a large number of entrepreneurs.
Based on specific criteria, and extensive studies on their companies, Endeavor Saudi Arabia has chosen a number of entrepreneurs who were honored by the minister during the ceremony, including Abdul Mohsen Al-Rabiah, Ebrahim Al-Jassim, Loai Naseem, Naif Al-Qahtani, Ahmed Hamdan and Hassan Hamdan, Amr Al-Madani and Saeed Saeed.
Endeavor Saudi Arabia Board Chairman Rami K. Alturki, stated: “Members of Endeavor Saudi Arabia board are very excited for Endeavor’s proven model in supporting high impact entrepreneurs and creating jobs for the Saudi youth. Entrepreneurship is one of the keys to address the need for tens of thousands of new and innovative jobs in the Kingdom.”
As for some of the achievements of Endeavor since its launch globally in 1997, said Alturki, the number of entrepreneurs who were selected globally were 917 out of 37,000, where the total revenue of Endeavor entrepreneurs’ companies during 2013 was more than $6 billion, with 225,000 new jobs created.
The chairman of Endeavor Saudi Arabia stated a number of solutions provided by Endeavor to assist High Impact entrepreneurs to achieve their goals on a global level. "Endeavor helps entrepreneurs to unleash their potential in several ways, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms. These customized services are specifically designed to help them grow their businesses,” he said.
During the ceremony, Dave McClure stated: “The most important thing that supports the entrepreneurs is to motivate them by removing some of the barriers that prevent them from achieving success such as lack of confidence, lack of experience and fear of failure.
Rakan Al-Eidi, MD, Endeavor Saudi Arabia, said: “Endeavor Saudi Arabia is a non-profitable organization started two years ago with aim to introduce the internationally successful model of Endeavor to support the high impact Saudi entrepreneurs, strengthen the national economy, and create hundreds of new jobs in the Kingdom.”
He also highlighted local role models in entrepreneurship to be a source of inspiration for the promising young Saudis who aspire to establish their own business.


China's aviation regulator raised concerns with Boeing on 737 MAX design changes

Updated 12 December 2019

China's aviation regulator raised concerns with Boeing on 737 MAX design changes

  • China is reviewing the airworthiness of the plane
  • China was first country to ground plane in March

BEIJING: China’s aviation regulator raised “important concerns” with Boeing Co. on the reliability and security of design changes to the grounded 737 MAX, it said on Thursday, but declined to comment on when the plane might fly again in China.
China is reviewing the airworthiness of the plane based on proposed changes to software and flight control systems according to a bilateral agreement with the United States, Civil Aviation Administration of China (CAAC) spokesman Liu Luxu told reporters at a monthly briefing.
He reiterated that for the plane to resume flights in China, it needed to be re-certified, pilots needed comprehensive and effective training to restore confidence in the model and the causes of two crashes that killed 346 people needed to be investigated with effective measures put in place to prevent another one.
China was the first country to ground the 737 MAX after the second crash in Ethiopia in March and had set up a task force to review design changes to the aircraft that Boeing had submitted.
The US Federal Aviation Administration (FAA) will not allow the 737 MAX to resume flying before the end of 2019, its chief, Steve Dickson, said on Wednesday.
Once the FAA approves the reintroduction into service, the 737 MAX can operate in the United States, but individual regulators could keep the planes grounded in other countries until they complete their own reviews.
“Due to the trade war, the jury is still out on when China would reintroduce the aircraft,” said Rob Morris, Global Head of Consultancy at Ascend by Cirium.
Chinese airlines had 97 737 MAX jets in operation before the global grounding, the most of any country, according to Cirium Fleets Analyzer.