140 Saudi bright young things shortlisted from 13,000 applicants

Saudi students sit for their final high school exams in the Red Sea port city of Jeddah. (AFP)
Updated 02 May 2018

140 Saudi bright young things shortlisted from 13,000 applicants

  • Qimam Fellowship to select around 50 students for mentorship program in May
  • Female students account for 59 percent of around 140 students shortlisted

LONDON: The Qimam Fellowship, a scholarship program for Saudi students backed by corporations including Al Tayyar Travel Group, Careem, McKinsey & Company and Cisco, has completed its inaugural round of shortlisted candidates.

The fellowship program, formally launched in February, interviewed more than 140 candidates, selected from over 13,000 applicants. Interviews were conducted by more than 50 leaders from the public and private sectors, Qimam said in a statement on Wednesday.

Interviewed candidates will be informed of the outcome of the interview process and next steps on May 10, the organisation said. Approximately 50 candidates will be chosen as “Fellows” in the first round.

“The level of candidates in the interview stage was outstanding,” said Qimam’s founder and CEO Annas Abedin.

“Although the Qimam Fellowship is still in its first year, the high number of applicants and the wide range of their impressive accomplishments underscores the outstanding academic and creative potential of youth in Saudi Arabia.”

Shortlisted students were selected from over 40 universities, and are enrolled in disciplines including medicine, engineering, business and management, and media. Female candidates made up 59 percent of those selected for the initial round.

Candidates participated in two in-person interviews in Riyadh, and were quizzed on their academic and non-academic accomplishments, initiatives, and social responsibility activities.

Those conducting the interviews came from organizations including Al Khaleejiah Advertising and Public Relations, Al Tayyar Travel Group, Careem, Cisco, Bab Rizk Jameel, General Electric, Saudi Arabian Mining Company Ma’aden, McKinsey & Company, STC, Rocket Internet, Pearson, OQAL, Aberkyn and Smaat.

“We look forward to playing a role in creating new opportunities for Saudi’s next generation of business leaders, especially as we stand at such a transformative moment in the social and economic evolution of the Kingdom,” said Tom Isherwood, a Dubai-based partner at McKinsey & Company.

The Qimam Fellowship was founded with the aim of empowering “the most promising and distinguished university students in the country to achieve their full potential,” providing selected students one-on-one mentorship from senior public and private sector leaders and leadership training by professionals from renowned companies.

“We were delighted to learn about the impressive accomplishments of Qimam applicants, including the filing of patents, the receipt of prestigious national and international awards, the launch of successful companies and initiatives, and others,” said Abdullah Al-Dawood, CEO of Al Tayyar Travel Group.

“These achievements demonstrate the impressive innovative spirit of Saudi Arabia’s youth and promise a great future ahead.”

Banking shares help key Saudi index edge up 0.2 percent

Updated 23 October 2019

Banking shares help key Saudi index edge up 0.2 percent

  • Property shares weigh on Egypt; other Gulf markets mixed

Most Gulf stock markets moved marginally amid falling oil prices on Wednesday, while Egypt’s blue-chip index declined, led by property shares.

DUBAI: Oil prices slipped toward $59 a barrel on data showing a bigger-than-expected rise in US crude stocks, while the prospect of deeper output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies offered support.

Saudi Arabia’s index extended gains from the previous session to close 0.2 percent up. Al-Rajhi Bank gained 0.7 percent, while Alinma Bank rose a further 1.3 percent.     

On Tuesday, Alinma reported a rise in third-quarter profit to SR713 million ($190.10 million) compared to 637 million a year earlier.    

However, gains were capped by losses in petrochemical stocks.

Sahara International Petrochemical (Sipchem) slid 2.8 percent following a more than 38 percent plunge in third-quarter net profit.

The petrochemical maker said it was due to a decrease in selling prices for most of the products.

Egypt’s blue-chip index decreased 0.5 percent, with most stocks on the index falling. Property stock Talaat Mostafa lost 1.7 percent and El-Sewedy Electric was down 1.5 percent. Among other stocks, developer Madinet Nasr also decreased 1.9 percent. 

Egypt’s nonoil private sector contracted for the second consecutive month in September, according to the IHS Markit Egypt Purchasing Managers’ Index (PMI).     

In Dubai, the index closed 0.3 percent down with Emaar Properties shedding 1.1 percent and Dubai Islamic Bank  falling 0.6 percent. 

The Abu Dhabi Index added 0.3 percent, extending gains for a third straight session, with First Abu Dhabi Bank and Aldar Properties gaining 0.4 percent and 1.8 percent respectively. 

Qatar’s index dipped 0.2 percent, extending losses for a fifth straight session, as Qatar Fuel declined 1.6 percent and Mesaieed Petrochemical ended 2.2 percent lower.

But Commercial Bank edged up 0.2 percent after it reported a rise in nine-month profit to QR1.50 billion ($412.09 million) compared to QR1.35 billion a year earlier.