LuLu highlights Saudi Arabia’s date varieties in new promotion

LuLu Hypermarket’s Saudi Dates Week was unveiled in a virtual event.
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Updated 30 July 2020

LuLu highlights Saudi Arabia’s date varieties in new promotion

LuLu Hypermarket’s latest promotion highlights more than 75 varieties of dates from across the Kingdom.

The Saudi Dates Week was unveiled in a virtual event and inaugurated by Dr. Mohammed Al-Nuwairan, chief executive officer of National Center for Palms and Dates (NCPD), in the presence of Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia, together with other government officials and LuLu dignitaries.

Mohammed said: “Promoting the food culture of Saudi Arabia and supporting its local producers have always been centric to our business. Through this festival, residents can enjoy the delicious taste of locally grown dates at the most affordable prices, along with a wide variety of products made from dates in our bakery, roastery section and hot food stations, which are freshly made daily.”

Al-Nuwairan said: “This is a wonderful initiative by LuLu, showcasing the extensive selection of fresh and dried dates. I am sure these products will be highly appreciated not only by Saudi nationals, but also by the local and other expat communities residing here. Apart from their promotion in stores, we are delighted with LuLu’s unceasing efforts in supporting locally grown agricultural products and empowering the involved communities as trusted suppliers.”

Saudi Arabia has more than 31 million date palms with annual production exceeding 1.5 million tons, making it the second largest producer in the world as the Kingdom constitutes 17 percent of the world’s annual production, according to a report of the NCPD.

LuLu, which organizes country- and product-centric festivals throughout the year, is a top retailer in the Middle East.

Garnering more than 1,600,000 shopping patrons every day, it is the fastest-growing retail chain across 10 countries that include the GCC, India, Egypt, Indonesia and Malaysia. Founded in the early 1990s, it has successfully expanded to different parts of the world and currently operates 188 stores with a workforce of more than 55,000.

KAUST’s conscious investor program region’s first

Updated 24 September 2020

KAUST’s conscious investor program region’s first

King Abdullah University of Science and Technology (KAUST) has partnered with the investment platform VentureSouq, startAD, the Abu Dhabi-based global accelerator anchored at New York University Abu Dhabi (NYUAD), and its partner Tamkeen, to launch the first Conscious Investor Fellowship in the GCC. The pan-regional fellowship is a six-week virtual program dedicated to enabling regional investors in the GCC to create sustainable change through impact investments. The program, which will take place from Oct. 7 to Nov. 25, comes as part of the upcoming annual Angel Rising Symposium, to be held virtually between Nov. 24-25, which provides education and conversations on the future of the angel investment sector and how it can fuel national and regional innovation.

The fellowship aims to empower the next generation of regional mission-driven investors who will fuel emerging ventures using technology for meaningful change, resulting in a measurable positive impact. Twenty-five investors from family offices, corporate and government entities will be welcomed as fellows of this inaugural cohort, where they will learn how to identify and invest into tech-enabled impact-driven startups.

The program will cover conscious investment strategies, startup diligence and valuations, impact measurement, portfolio management, and global sector trends in the impact space. Elective thematic masterclasses will also be offered, with a specific focus on health tech, educational tech, environmental tech, and agricultural tech. Participants will be able to apply their knowledge and invest in live deals through VentureSouq’s Conscious Collective Fund. The inaugural edition is held in collaboration with the Sharjah Entrepreneurship Center and Hub71.

Hattan Ahmed, head of the KAUST Entrepreneurship Center, said: “KAUST is driven by a mission to advance research and create new technologies that address our greatest global challenge in food, water, energy, and the environment. We are starting to see more deep tech startups emerging from the ecosystem, disrupting existing industries and creating new solutions to these challenges. The Conscious Investor Fellowship is a key step to advancing this ecosystem and educating regional investors about the potential of emerging technologies and their long-term value. For Saudi Arabia in particular, there is a unique opportunity to nurture this deep tech ecosystem for real economic transformation.”

Ramesh Jagannathan, research professor of engineering, vice provost for entrepreneurship at NYUAD, and managing director of startAD, said: “Conscious investment is a growing global force, accelerated by the ongoing impacts of the global pandemic. In the UAE, and specifically Abu Dhabi, we have a unique opportunity to engage with this global trend, given that the emirate has the highest net potential wealth globally.”