Two young Saudis awarded Rhodes Scholarships to study at Oxford

Two young Saudis awarded Rhodes Scholarships to study at Oxford
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Updated 03 November 2024
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Two young Saudis awarded Rhodes Scholarships to study at Oxford

Two young Saudis awarded Rhodes Scholarships to study at Oxford

Lana Alabbasi and Mohammed Alharthi have won the prestigious Rhodes Scholarships for Saudi Arabia this year. 

They will be heading to the University of Oxford in October 2025 to join a cohort of more than a 100 scholars from around the world to undertake fully funded postgraduate studies and become part of a strong community of young people determined to make a positive difference in the world. 

The Rhodes Scholarship is the world’s preeminent and oldest graduate fellowship, based at the University of Oxford since 1903. The first Saudi Arabia scholarship was established in 2018 with a gift from Muhammad Alagil, and a second was added in 2020 with a gift from Abdulrahman Alagil Sons. The donors are co-founders of Jarir Bookstores and made their gifts in collaboration with the Saudi Ministry of Education. 

Education is one of the core elements of Vision 2030, the Kingdom’s ambitious blueprint for the future. The Rhodes Scholarships enable outstanding students from across the Kingdom to fully develop their skills and knowledge in the fields that will help Saudi Arabia achieve its goals under Vision 2030. This year, exceptional circumstances enabled the award of a third Rhodes Scholarship for Saudi Arabia. 

Students from anywhere in the world can apply for a Rhodes Scholarship and many find that taking part in the rigorous selection process is a profoundly positive experience, which leaves them well placed to go on to a Rhodes Scholarship or other opportunities worldwide. 

The Rhodes selection process aims to choose young people with proven academic excellence who also show exceptional character, leadership, the energy to use their talents to the full and a commitment to solving humanity’s challenges. The selection process includes a rigorous review process before the finalists interview with a selection committee composed of renowned experts and leaders in diverse fields. 

Rhodes Scholars form a lifelong community of people in many fields and careers, united by a commitment to having a positive impact on the world. This year’s winners continue this legacy of excellence. They include:

  • Lana Alabbasi is a senior at King Abdulaziz University majoring in physics with a focus on astrophysics. She recently completed a research fellowship at the California Institute of Technology, where she studied neutron star collisions. In addition, she was an Astrophysics Cambridge Future Scholar at the Cambridge Center for International Research, researching black holes, and worked as a research assistant at King Abdulaziz University on a published study in particle physics. Alabbasi is the founder and director of the Falak Research Program, Saudi Arabia’s first mentorship initiative in space science, which connects students with experts from around the world. She plans to apply for the DPhil in astrophysics at Oxford.
  • Mohammed Alharthi is a senior at University of California Los Angeles majoring in mathematics/ economics and in political science with a specialization in international relations. He interned with McKinsey and Company and at the United Nations Department of Political and Peacebuilding Affairs. He is also the co-founder and chief strategy officer of Furas, a startup dedicated to expanding internship opportunities for young Saudis. In his free time, he enjoys playing padel, competing in the card game Baloot, and public speaking. At Oxford, he plans to apply for the MSc in global governance and diplomacy.

Dr. Elizabeth Kiss, CEO of the Rhodes Trust, said: “We are excited to see the tremendous talents of this year’s Rhodes Scholars Elect, who come from countries all around the world. We know from 120 years of bringing exceptional people to Oxford to study and build a dynamic global community, that when unlikeminded but likehearted people come together, we can forge brighter futures for individuals and the world.”

Professor Christian Sahner, national secretary of the Rhodes Scholarships for Saudi Arabia, said they are “all exceptional young people and richly deserving of this fantastic opportunity. The selection committee was very impressed by their past achievements and confident of the positive impact they will have on Saudi Arabia and the world going forward.” 

The Rhodes Trust is committed to ensuring that the world’s diversity of background and thought is reflected at Rhodes House, which has expanded the scholarship to include Global Scholarships and new constituencies in recent years. 

Applications for the 2026 Rhodes Scholarships will open in June 2025. More information about the scholarship application can be found at: www.rhodeshouse.ox.ac.uk/apply.


VTB: Agricultural exports to exceed $50bn in next 5 years

VTB: Agricultural exports to exceed $50bn in next 5 years
Updated 04 December 2024
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VTB: Agricultural exports to exceed $50bn in next 5 years

VTB: Agricultural exports to exceed $50bn in next 5 years

VTB Group, a global provider of financial services, estimates that exports of agricultural goods will surpass $50 billion by 2030. Leading positions in the grain segment will be complemented by new growth areas in meat and dairy production, as well as the food processing industry. 

This forecast was presented by VTB analysts at the 15th VTB Russia Calling! Investment Forum, who identified the main growth factors as:

  • Increased efficiency and experience of local producers
  • Achieving the threshold for ensuring food security in the Russian Federation not only for grain but also across vegetable oils, fish and fish products, sugar, meat, and meat products. This will significantly expand the list of value-added agro-industrial complex goods for export.
  • Potential for production growth relative to current cultivated areas and production capacities
  • Strong positions in production costs
  • Growing demand from China, the Middle East, North Africa, and Southeast Asia

Vitaly Sergeychuk, member of the management board of VTB, said: “Despite the current cycle of a high key rate and expensive borrowing, we see that our clients in the agricultural and industrial complex segment are fulfilling their obligations to banks, counter-parties, and employees in a timely manner. Moreover, they are constantly seeking out new markets and business partners. For instance, over the last three-five years, most of them have established export production and logistics chains for their products, including to Asia, the Far East, the Middle East, and Africa.

“At the same time, in light of new challenges to maintain the sovereignty of the country’s food security, the priority for players in this market will be to further increase vertical integration and develop new business directions. These include selective breeding and genetics, knowledge-intensive industries, dairy production, and livestock breeding.”


Mohamed Yousuf Naghi Group forms Jiad International Holding Company to lead strategic restructuring

Mohamed Yousuf Naghi Group forms Jiad International Holding Company to lead strategic restructuring
Updated 03 December 2024
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Mohamed Yousuf Naghi Group forms Jiad International Holding Company to lead strategic restructuring

Mohamed Yousuf Naghi Group forms Jiad International Holding Company to lead strategic restructuring

Mohamed Yousuf Naghi Group has announced the formation of Jiad International Holding Company, a strategic initiative to optimize the group’s diverse portfolio of investments and accelerate long-term growth across key sectors, including automotive, transportation, logistics, and consumer goods distribution.

This new corporate structure highlights Mohamed Yousuf Naghi Group’s commitment to enhancing corporate governance while solidifying its position as a leading service provider by empowering its subsidiaries to seize emerging opportunities. 

HIGHLIGHT

The formation of Jiad International Holding Company is a strategic initiative to optimize the group’s diverse portfolio of investments and accelerate long-term growth across key sectors.

Leading this venture, as the CEO of Jiad International Holding Company, will be Hossam Y. Radwan, who comes with a proven track record of experience spanning more than three decades in investment banking. He will be bringing exceptional expertise in driving the company’s strategic vision.

An alumnus of Georgetown University, US, Radwan most recently served as CEO of the Saudi Mortgage Guarantees Company (Damanat) and was previously appointed to numerous leadership roles in renowned financial institutions, such as JPMorgan, Goldman Sachs, EFG-Hermes and Abraj Partners Holding.

The group expressed its enthusiastic welcome to Radwan, and expressed their confidence in his ability to drive Jiad International toward achieving its strategic objectives and unlocking a new era of growth for Mohamed Yousuf Naghi Group.


Kerten Hospitality opens ‘Nakhati’ gelato store in Diriyah

Kerten Hospitality opens ‘Nakhati’ gelato store in Diriyah
Updated 03 December 2024
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Kerten Hospitality opens ‘Nakhati’ gelato store in Diriyah

Kerten Hospitality opens ‘Nakhati’ gelato store in Diriyah

Kerten Hospitality’s Nakhati brand, recognized as Saudi Arabia’s pioneering social impact food and beverage initiative, launched its latest location at the prestigious Bujairi Terrace in Diriyah. The store opening, which took place on Nov. 28, brings Nakhati gelato’s locally inspired blends to the heart of Diriyah, reflecting the richness of Saudi heritage and modern culinary flair. Founded by Kerten Hospitality, the unique gelato franchise is dedicated to empowering Saudi female entrepreneurs and fostering community prosperity.

To celebrate the opening, Nakhati introduced an exclusive aroma drawn from the heritage of Diriyah: Tahini Gelato. This special edition is being offered in two distinctive variations:

• Tahini and White Chocolate Variegato: A creamy indulgence crafted to captivate both newcomers and gelato enthusiasts alike.

• Tahini, Cardamom and Dates: A flavorful tribute to traditional tastes, celebrating the essence of Diriyah’s rich history.

Additionally, guests at the Bujairi Terrace location had the chance to sample “Pinturicchio,” a gelato made with premium olive oil and a touch of salt, as a complimentary treat on the opening day.

“Nakhati isn’t just a dessert brand; it’s a mission-driven initiative by Kerten Hospitality. Under a social franchise model, Nakhati empowers Saudi women through accessible pathways to business ownership, providing full franchise support, financing tools, training, and ongoing mentorship. This model exemplifies Kerten Hospitality’s commitment to fostering social responsibility while delivering premium culinary experiences,” a statement said.

“Our expansion into Diriyah is a testament to Nakhati’s mission: to empower Saudi women through a business model that merges quality, craftsmanship, and social impact,” said Marloes Knippenberg, CEO of Kerten Hospitality. “Nakhati showcases the skill of gelato-making, while also highlighting the potential for businesses to drive positive change.”

By 2028, Nakhati aims to empower 50 Saudi women through its network of 30 gelato carts and 20 kiosks across the Kingdom, bringing locally crafted gelato to communities throughout Saudi Arabia. Nakhati’s impact has garnered international recognition, including the prestigious Dentons Best Franchising Model Award, which celebrates the brand’s unique approach to sustainable and inclusive business.

Aligned with Kerten Hospitality’s broader vision for gender equity and community empowerment, Nakhati’s social franchise model is reshaping the industry, showing how social responsibility and business success can flourish side by side. Through each franchisee, Nakhati is helping to create a more inclusive and prosperous future for Saudi women and their communities.


HORECA Riyadh brings best of hospitality to Kingdom

HORECA Riyadh brings best of hospitality to Kingdom
Updated 03 December 2024
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HORECA Riyadh brings best of hospitality to Kingdom

HORECA Riyadh brings best of hospitality to Kingdom

The 13th edition of HORECA Riyadh opened on Nov. 25 at Riyadh International Convention and Exhibition Center. The opening ceremony was attended by Mayada Badr, CEO of the Culinary Arts Commission, and Prince Waleed bin Nasser Al-Saud, founder and CEO of Mukatafa, along with several diplomats and top business leaders from across the Kingdom.

Concurrently, the second edition of Salon du Chocolat et de la Pâtisserie also commenced, featuring a unique blend of chocolate and pastry arts, as well as the Saudi Elite Chefs competition. Strategically partnered with the Culinary Arts Commission, the event gathered an assembly of elite professionals and international brands through Nov. 27.

This year’s HORECA, the most expansive in its history, extended over 29,000 square meters and hosted more than 400 exhibitors representing 20,000 brands from 48 countries. These were displayed across eight international pavilions, each a showcase of cultural diversity and innovation that defines the modern hospitality landscape.

The inaugural ceremony featured a special tribute to Badr, whose visionary leadership in the Saudi Ministry of Culture’s Culinary Arts Commission has significantly elevated the national culinary arts scene.

The opening day’s events included a range of competitions and demonstrations, including cooking, barista and mocktail competitions, drawing more than 100 skilled participants from around the globe, each eager to impress a panel of international judges.

Salon du Chocolat et de la Pâtisserie comprised more than 40 distinctive events, which included celebrated pastry chefs unveiling their latest creations and sharing insights into emerging trends in the world of chocolate and pastries. Additionally, the exhibition provided an arena for chefs to engage in competitions adjudicated by globally acclaimed chefs.

Adding an intellectual flavor, this year’s event introduced “The Talks,” an engaging series of panel discussions tackling a variety of contemporary issues, led by a cadre of industry leaders.

The Saudi Elite Chefs competition offered a face off between chefs facing novel challenges in Saudi cuisine, judged by a panel comprising Meilleurs Ouvriers de France laureates Philippe Bertrand, Jonathan Mougel, Joseph Viola and Jacques Rolancy.

The two exhibitions provide an ideal platform for expert networking and the forging of strategic partnerships. These events not only reinforce Riyadh’s eminent status as a global and regional hub for the hospitality, and food and beverage industries but also spotlight its dynamic role on the world stage.

Established almost 30 years ago, HORECA, an annual business meeting place, brings together an array of distinguished brands, experts and international personalities from the vibrant worlds of hospitality and food service. Over recent years, HORECA has cemented its strong presence in the GCC, particularly within Saudi Arabia. 

Besides Riyadh, HORECA also takes place annually in Jeddah, as well as in Beirut, Kuwait, Amman and Muscat. 


Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office

Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office
Updated 02 December 2024
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Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office

Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office

LT Foods Ltd., a global fast-moving consumer goods company in the consumer food space, has announced its official entry into Saudi Arabia with the inauguration of a new office in Riyadh. 

The goal is to tap the $1.1 billion rice and rice-based food market in the Kingdom.

The move is part of the company’s strategic vision of expanding its global footprint to newer geographies. Today, LT Foods generates $1 billion in global revenue, demonstrating an established track record of sustained year-on-year profit growth. It has delivered 18 years of revenue compound annual growth rate of 18 percent and a profit CAGR of 21 percent.

With its new office in Riyadh, the company is set to revolutionize the rice market in Saudi Arabia and meet consumers’ growing demand for authentic and premium rice and rice-based food products. The new office will act as a hub for LT Foods’ regional operations, enabling the company to leverage its deep expertise in rice and rice-based food products that align with Saudi-based consumers’ tastes and culinary traditions.

LT Foods plans to invest SR185 million ($49.2 million) in warehousing, stocks, and people over the next five years in the Kingdom. It is eyeing a revenue of SR435 million over the next five years. With Saudi Agricultural and Livestock Investment Company as a key shareholder, LT Foods is also gearing to set up local manufacturing facilities in the Kingdom.

Vijay Arora, chairman and managing director, LT Foods, said: “We have built successful businesses in every market where we have set up our operations. We have provided quality products and premium food offerings to consumers. LT Foods has also added significant value to the economy and to its operations. We are now very excited to expand our footprint in Saudi Arabia. Our trusted brands — Daawat, Hadeel and Mufaddal — have long been a part of the Kingdom of Saudi Arabia. With SALIC being a strategic shareholder in LT Foods, we are now expanding our footprint in the Kingdom with warehouses and are prepared to establish local manufacturing.”

Gursajan Arora, CEO — Middle East Business, LT Foods, said: “Saudi Arabia is one of the largest importers of rice and a key market for us. We see tremendous potential for growth in the market and are excited to bring our legacy of quality, innovation, and trust to the region. With our Riyadh office, we aim to deepen our connections with local consumers and partners, tailoring our offerings to meet their specific preferences. We are confident in our ability to strengthen our market presence, drive sustainable growth, and continue delivering exceptional value to all our stakeholders.”