Over 25 Agreements Worth More Than $2.93 Billion Signed on the Opening Day of Biban 2023
10.3.2023 13:12:00 EET | Business Wire | Press release
The Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, Monsha'at, has signed a Memorandum of Understanding (MoU) with Huawei Tech Investment Saudi Arabia Limited. Launched on the opening day of Biban 2023 — Saudi Arabia’s flagship startup and SME forum — the new partnership will see the two entities join forces to enhance the digital transformation of the Kingdom’s small and medium-sized enterprises (SMEs).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230310005184/en/
Biban 23 opened its doors today to the world's entrepreneurs, SMEs and startups (Photo: AETOSWire)
As part of the agreement, Monsha’at and Huawei Tech Investment Saudi Arabia will work together to equip Saudi SMEs with the tools to grow and succeed in the e-commerce space. The agreement will promote joint-cooperation and pioneer leading-edge solutions designed to empower SMEs reliant on communication technology.
The MoU was one of more than 25 agreements launched alongside a range of investment initiatives, on the first day of Biban 2023. The event — taking place from March 9 to March 13, 2023, at the Riyadh Front Exhibition & Conference Center — is expected to attract over 105,000 participants, including entrepreneurs, SME owners, investors, policymakers, and other stakeholders from the Kingdom and beyond.
As part of the agreements signed, separate to the MoU with Huawei, eight banks and financing entities pledged more than $2.93 billion to support the Kingdom’s SME ecosystem.
In line with Vision 2030, the agreements will contribute to the diversification of the national economy, transforming the country into a world-class hub of commerce.
Sami Ibrahim Alhussaini, Governor of Monsha’at, said: “We are fully committed to bolstering the national economy and fulfilling the Kingdom’s potential. As part of this mission, we aim to create an affirming entrepreneurial environment conducive to investment and growth. We have made significant strides on this journey over the years, as seen with the Kingdom’s recent leap from 41st place — in 2018 — to second place, in 2022, on the Global Entrepreneurship Monitor’s ‘State of Entrepreneurship index’.”
He added: “Biban 2023 represents a fantastic opportunity for us to build on this progress and take more steps towards realizing the goals of Vision 2030. A unique platform fully geared towards the meaningful exchange of insights, networking and collaboration, Biban 23 will help to inspire innovation and effect lasting positive change within the Saudi and global entrepreneurship sector.”
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230310005184/en/
Contact information
Jose Mendez
Account Director – Weber Shandwick
mendezj@webershandwick.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NIQ Launches Beta of New AI-Powered Analytical Capabilities in Ask Arthur13.3.2026 13:00:00 EET | Press release
NIQ (NYSE: NIQ), a global leader in consumer intelligence, has launched new AI-powered analytical capabilities in beta within Ask Arthur on the NIQ Discover platform. The expanded experience guides users through end-to-end analysis—helping them identify what matters in the data, understand why trends are occurring, and turn insights into clear, shareable narratives with recommended next steps. As organizations navigate increasing data complexity, the ability to move quickly from insight to action has become essential. Ask Arthur helps shorten analytical processes that once took days or weeks into minutes by surfacing the key drivers behind performance changes and generating decision-ready insights directly within Discover. By connecting analysis, explanation, and storytelling in a single experience, users can move seamlessly from understanding what is happening in the data to determining what to do next. “These new analytical capabilities represent an important step forward in how we b
Reply at NVIDIA GTC: Digital Twins and Physical AI Driving the Next Stage of Industrial Value Creation13.3.2026 12:24:00 EET | Press release
Reply [EXM, STAR: REY] will be present at NVIDIA GTC from 16 to 19 March 2026 in San Jose, California, showcasing how companies can optimise production and logistics processes, scale robotics and sustainably increase industrial performance using digital twin technology and physical AI. The conference is regarded as the most important international meeting point for AI developers, researchers and decision makers. This year, more than 30,000 participants from over 190 countries are expected to attend. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260313000399/en/ By attending NVIDIA GTC, Reply is showcasing how digital simulation and physical automation are already being integrated in practice. Projects for the Otto Group and the industrial edge domain show how physical AI and precise digital twins work together to create new opportunities for industrial value generation. The focus will be on two concrete use cases that demon
Klarna Board Chair Michael Moritz Acquires 3.47 Million Shares for $50 Million13.3.2026 12:05:00 EET | Press release
Klarna Group plc (NYSE: KLAR) today discloses the following transactions by the Chair of its Board of Directors and Chief Product & Design Officer, filed with the U.S. Securities and Exchange Commission on Form 3. Share Purchases Michael Moritz, Chairman, through an associated entity, purchased 3,472,845 ordinary shares between March 3 and March 11, 2026, at an aggregate consideration of $49,913,138.73. David Fock, Chief Product & Design Officer, purchased 27,000 ordinary shares on March 9, 2026, for an aggregate consideration of $388,552.14. Share Sales David Sandström, Chief Marketing Officer, sold 32,703 shares on March 9, 2026, pursuant to a Rule 10b5-1 trading plan, established in 2025. David Sykes, Chief Commercial Officer, sold 23,799 shares on March 13, 2026, pursuant to a separately established Rule 10b5-1 trading plan, established in 2025. Form 3 filings for all transactions are available on the SEC's EDGAR database atwww.sec.gov. Forward-Looking Statements This press release
Intertek Launches Comprehensive Digital Product Passport Services13.3.2026 11:00:00 EET | Press release
Intertek, a leading Total Quality Assurance provider to industries worldwide, has announced the launch of its enhanced Digital Product Passport (DPP) suite of services. This includes a comprehensive advisory service designed to help manufacturers, brands and retailers navigate the fast-evolving regulatory and sustainability landscape associated with digital product passports and circular economy compliance. Mark Thomas, Executive Vice President, Global Sustainability, Assurance, Agri World and Food at Intertek, said: “With the introduction of regulatory frameworks for improving the sustainability performance of products, companies are facing mounting pressure to implement robust systems for transparency, traceability and sustainability reporting globally. This shift marks a significant regulatory milestone, requiring organisations to strengthen data governance, engage suppliers more effectively and demonstrate credible, verifiable sustainability performance across the full product life
Estithmar Holding Pays the Third Semi-Annual coupon of the 8.75% Sukuk Tranche12.3.2026 22:50:00 EET | Press release
Estithmar Holding Q.P.S.C. has paid the third semi-annual coupon of its Qatari Riyal-denominated Sukuk (first tranche), at an annual profit rate of 8.75%. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260312880092/en/ Estithmar Holding Pays the Third Semi-Annual coupon of the 8.75% Sukuk Tranche (Photo: AETOSWire) The first tranche, part of the company’s broader Sukuk program valued at QAR 3.4 billion and listed on the London Stock Exchange’s International Securities Market, was issued in August 2024. The issuance attracted a diverse pool of institutional investors including banks, insurance companies, and asset managers, with strong interest from both government-affiliated and private institutions. This demand reflects growing investor confidence in Estithmar Holding’s ability to deliver sustained value to stakeholders. EstithmarHolding was recently included in the FTSE Russell Global Equity Index, in Qatar’s Mid-Cap segme
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom