Saudi Fund for Development Signs Six Development Loan Agreements Worth Over USD 403 Million with Syria

 

^{HRH the Crown Prince and President of the Syrian Arab Republic Al-Sharaa witness signing of agreements (Photo: AETOSWire)} 


RIYADH, Saudi Arabia, Nov 6 (Bernama-BUSINESS WIRE) -- The Saudi Fund for Development (SFD) has signed six concessional development loan agreements worth more than USD 403 million with the Syrian Arab Republic, marking a significant step in supporting the country’s recovery through the rehabilitation of essential infrastructure, restoration of vital public services and improvement of living conditions for communities affected by years of conflict.

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The agreements, signed under the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, reflect the Kingdom’s continued commitment to supporting Syria’s development priorities. The signing ceremony was witnessed by His Royal Highness the Crown Prince and Syrian President Ahmed Al-Sharaa, with SFD CEO Sultan bin Abdulrahman Al-Marshad and Syrian Minister of Finance Mohammed Yusr Barniyeh signing the agreements on behalf of their respective institutions.

Spanning six development areas, the financing will address pressing needs while strengthening the resilience of communities and public institutions across Syria.

A USD 90 million loan will rehabilitate generating units at the Aleppo Thermal Power Plant, helping restore reliable electricity supplies for approximately 5 million people and supporting economic activity, while a USD 30 million water project will install 300,000 smart meters to improve water service efficiency for approximately 1.5 million people.

A further USD 105 million will finance the construction, rehabilitation and equipping of 25 civil defence centres, strengthening emergency response and disaster management capabilities for more than 7 million people. In the housing sector, USD 60 million will support the rehabilitation of up to 10,000 damaged homes, improving living conditions and community stability.

The agreements also include USD 100 million to rehabilitate, construct and equip hospitals and health centres, restoring essential healthcare services and expanding access to care, alongside USD 18 million to support digital transformation and institutional development at Syria’s Ministry of Finance, enhancing the efficiency and transparency of government financial services.

Together, these projects will contribute to restoring essential services, strengthening community resilience and supporting sustainable development, building on Saudi Arabia’s continued assistance to Syria, including two grants provided through SFD in September 2025 to supply crude oil and cover part of public employees’ salaries over three months.

*Source: AETOSWire

View source version on businesswire.com:
https://www.businesswire.com/news/home/20261105350224/en/

Contact

Nawaf Alojrush
alojrush@sfd.gov.sa
+966112714148

Source : Saudi Fund for Development

SEENTHIS CONNECTS CLAUDE, CHATGPT TO BUILD VIDEO ADS

KUALA LUMPUR, Nov 6 (Bernama) -- Stockholm-based video advertising company, SeenThis has launched SeenThis Studio MCP, which connects artificial intelligence (AI) tools such as Claude and ChatGPT to SeenThis Studio platform, allowing them to build video ads from a single brief.

“AI is changing how every agency works, and video advertising is next. SeenThis has always built the technology behind the ad, from creation to delivery, and SeenThis Studio MCP puts that technology to work for the AI tools agencies already rely on,” said SeenThis Chief Executive Officer, Jesper Benon.

The tool uses Model Context Protocol (MCP), an open standard for connecting AI tools to other software, and is available in early access to a limited group of agencies and brands, the company said in a statement.

Teams share a brief with the AI tool they already use, which then builds and animates editable video ads in the required formats, creates versions for different markets, languages and offers, and shares previews for client approval.

“Your AI tool knows your brand. Our engine knows how an ad has to work. The more SeenThis Studio can do, the more your AI tool can do,” said SeenThis Chief Product and Technology Officer, Mark Pasternak.

SeenThis said early tests showed production time cut by more than 90 per cent, with complex video ads that would normally take most of a working day ready in under an hour.

Approved ads can be sent directly from SeenThis Studio to the DV360 advertising platform and to social media platforms such as Meta and TikTok.

-- BERNAMA

DENODO NAMED GARTNER LEADER IN DATA INTEGRATION TOOLS FOR SEVENTH STRAIGHT YEAR

KUALA LUMPUR, Nov 5 (Bernama) -- Data management company, Denodo has been named a Leader in research firm Gartner’s Magic Quadrant for Data Integration Tools for the seventh consecutive year.

The 2026 report, published on Nov 2, analysed 19 vendors. Denodo said it believes the recognition reflects the strength of its support for agentic artificial intelligence (AI) and the loyalty of its customers.

“We are extremely proud that Gartner has once again recognised Denodo as a Leader in the Magic Quadrant for Data Integration Tools, as Gartner has done for the previous six years,” said Denodo Senior Vice President and Chief Marketing Officer Ravi Shankar.

In a statement, he said data integration was increasingly driven by the needs of AI agents, which require data that is integrated, governed and supported by business context.

Gartner said in the report that by 2028, 60 per cent of data integration tasks will be completed autonomously, freeing up 20 per cent of data engineers’ time.

Since last year’s report, Denodo has released two updates to its platform. Denodo Platform 9.4, released in March, enables AI systems and users to access live data within governance boundaries, while version 9.5, released in July, adds features to support AI agents.

The Denodo Platform has an average rating of 4.6 out of 5 from 337 user ratings on the Gartner Peer Insights platform, as of November 2026.

-- BERNAMA

SME BANK ROLLS OUT ‘ZERO TO HERO 3.0’ IN COLLABORATION WITH GIATMARA AND ZURICH GENERAL TAKAFUL MALAYSIA UNDER BANK NEGARA MALAYSIA’S iTEKAD EMPLOYMENT INITIATIVE

KUALA LUMPUR, Nov 4 (Bernama) -- Small Medium Enterprise Development Bank Malaysia Berhad (“SME Bank” or the “Bank”), a subsidiary of Bank Pembangunan Malaysia Berhad Group (“BPMB Group”), has rolled out Zero to Hero 3.0 in collaboration with GIATMARA Sdn. Bhd. (“GIATMARA”) and Zurich General Takaful Malaysia Berhad (“Zurich General Takaful).

Recognised by Bank Negara Malaysia (“BNM”) under iTEKAD Employment, an initiative introduced in 2026 to strengthen the employability and financial resilience of vulnerable communities, Zero to Hero 3.0 will equip 100 individuals from B40 households with industry-recognised Technical and Vocational Education and Training (“TVET”) skills in welding and metal fabrication. Participants will also receive financial education, industry exposure and employment support.

Expanding Opportunities Through Skills and Employment
Samad Majid Zain, Chief Executive Officer of SME Bank, said, “Zero to Hero 3.0 reflects our continued focus on creating opportunities for underserved communities through industry-relevant TVET programmes. By equipping participants with in-demand technical skills and connecting them with employers, the programme provides a practical pathway towards meaningful and sustainable employment.

“The first cohort supported 30 participants in 2022, followed by 60 participants in 2024. All 90 participants secured employment, achieving a 100% employment rate. Zero to Hero 3.0 will support a further 100 participants, with expected monthly salaries ranging from RM1,800 to RM6,000. The programme also advances the National TVET Policy 2030 and Financial Sector Blueprint 2027–2030, while reinforcing SME Bank’s focus on measurable developmental outcomes in line with Bank Negara Malaysia’s Performance Measurement Framework,” Samad Majid Zain elaborated.

Turning Training into Sustainable Careers
As the implementation partner, GIATMARA will lead participant selection, deliver competency-based TVET training, facilitate industry certification and coordinate job placements. It will also monitor participants’ progress throughout the programme.

Datuk Ts. Ahmad Hamdi bin Ibrahim, Chief Executive Officer of GIATMARA, said, “Zero to Hero 3.0 reflects GIATMARA’s commitment to developing a skilled workforce with competencies that meet industry requirements. Through recognised certification, hands-on industry exposure and direct access to employment opportunities, participants will be better positioned to build sustainable careers and contribute to Malaysia’s growing industrial talent pipeline.”

Zurich General Takaful Malaysia will provide programme funding, one year of takaful protection and practical financial education to help participants manage their finances and enter the workforce with greater confidence.

Shamsul Azman, Chief Executive Officer of Zurich General Takaful Malaysia, said, “Creating lasting financial resilience requires more than technical skills, it demands strong partnerships and a shared commitment to empowering individuals for a more secure and brighter future. Guided by our brand promise to Care for What Matters, we are proud, through our ongoing collaboration with SME Bank and GIATMARA in Zero to Hero 3.0, to complement industry-recognised TVET training with takaful protection and practical financial education. This combination helps participants step into their workforce with greater confidence while laying a solid foundation for long-term financial wellbeing.”

Building on iTEKAD’s National Impact
The wider iTEKAD initiative was introduced by BNM in 2020 and has since benefited more than 14,000 low-income microentrepreneurs nationwide. More than RM94 million in social finance funds and around RM77 million in financing and investments have been channelled through the initiative. Programme graduates have also contributed to the creation of more than 2,400 employment opportunities.

SME Bank has contributed to these outcomes through SME Bank iTEKAD ISHRAF, which has supported nearly 1,000 asnaf entrepreneurs since 2020. Collectively, participants have generated approximately RM40 million in income and created more than 400 employment opportunities.

Building on this foundation, the Zero to Hero 3.0 programme will be carried out under the iTEKAD Employment initiative between 2026 and 2027.

As a Development Financial Institution (“DFI”), SME Bank continues to advance inclusive economic growth by connecting underserved communities with skills, employment and opportunities for upward socioeconomic mobility. Through Zero to Hero 3.0, the Bank and its partners aim to develop industry-ready talent, strengthen household resilience and contribute to Malaysia’s long-term development.

For contact details, please use the below: https://bit.ly/4iDlJv6

Issued by:
BPMB Group
Level 30, Menara Bank Pembangunan,
Plaza Conlay, Jalan Conlay,
50450 Kuala Lumpur, Malaysia.

SOURCE: BPMB Group

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Mohd Nasrulhanis Ruslan
Acting Head, Strategic Communication
BPMB Group
Email: communications@bpmb.com.my

--BERNAMA

UNIVAR SOLUTIONS BUYS LAVO BULK ASSETS TO EXPAND IN CANADA

KUALA LUMPUR, Nov 4 (Bernama) -- Univar Solutions LLC (Univar Solutions), a speciality ingredients and chemicals distributor, has completed the acquisition of certain assets of KIK Consumer Products’ Lavo Bulk (Lavo Bulk) business in Canada, strengthening its presence in Eastern Canada.

The deal expands the complementary chemical solutions and capabilities Univar Solutions can offer customers in the region. Lavo Bulk’s leadership and dedicated sales team have joined the company.

“The addition of Lavo Bulk is a strong strategic fit with our business and our commitment to growing with key customers and critical suppliers in Canada.

“We look forward to building on their established expertise, relationships and capabilities while continuing to deliver the safe, reliable service our customers expect,” said Univar Solutions Chief Executive Officer of Chemical Distribution and Services, Bob Craycraft in a statement.

Meanwhile, Univar Solutions Senior Regional Vice President of Chemical Distribution and Services for Canada and EMEA, Chris Halberg said the company’s immediate focus was on a smooth transition and maintaining service levels for customers.

He said Univar Solutions saw opportunities to deepen its relationships with customers and suppliers across the region.

-- BERNAMA

CHERY’S LUXEED EYES OVER 60 MARKETS, UNVEILS TWO FLAGSHIPS

KUALA LUMPUR, Nov 4 (Bernama) -- Chery Group’s LUXEED announced its plan to enter more than 60 markets within five years, at its global brand launch in Wuhu, where it unveiled the LLounge luxury multi-purpose vehicle (MPV) and the Stormax performance sport utility vehicle (SUV).

In a statement, the company said it would maintain consistent product standards worldwide and deliver a seamless customer experience across its markets.

The LLounge, designed for business and family travel, features 123-degree zero-gravity seats and second-row seats that rotate to 45, 90 and 180 degrees. It also has a 33-speaker audio system and an all-aluminium suspension with air springs and continuous damping control, designed to balance comfort and handling on long journeys.

The Stormax is built on an all-aluminium high-performance chassis and focuses on responsive power and controllable handling. Its intelligent driving assistance system combines multiple sensors with eight layers of safety redundancy for use on city streets, highways and country roads.

Both models feature an artificial intelligence (AI) cockpit that can recognise gestures, gaze and occupant status, and respond to users’ needs through an onboard AI model.

LUXEED said it would continue to develop its vehicles based on real-world user needs.

-- BERNAMA

GUOCOLAND NAMED BEST DEVELOPER, UOL TOPS PROPERTYGURU SINGAPORE AWARDS

KUALA LUMPUR, Nov 3 (Bernama) -- GuocoLand was named Best Developer at the 16th PropertyGuru Asia Property Awards (Singapore), while UOL Group Limited was the most awarded company of the night.

It was the fifth time GuocoLand has won the top honour in the awards’ history, with its Springleaf Residence, developed with Hong Leong Holdings, and River Modern projects also winning across design, development and sales categories. More than 40 awards were presented at a gala dinner at The St Regis Singapore.

“Singapore is unique. With limited land and fierce competition, this market demands precision, innovation, and foresight like nowhere else,” said PropertyGuru Asia Property Awards and Events general manager, Jules Kay in a statement.

UOL Group was named Best Residential Developer, Best Sustainable Developer and Best Hospitality Developer, and also won design and development awards for NoMad Hilton Singapore. Its joint ventures behind Skye at Holland and Thomson Reserve also won multiple awards.

Frasers Property Singapore won Best Luxury Developer, and Jean Yip Developments was named Best Landed Developer, while SingHaiyi Group won both Best Lifestyle Developer and Best Condo Developer. Soon Hock Enterprise Holding was named Best Industrial Developer, and The Assembly Place won Best Co Living Operator.

Wee Hur Holdings executive chairman and managing director, Goh Yeow Lian was named Real Estate Personality of the Year, while SingHaiyi Group and Tang Organization Group chief executive officer (CEO), Gallant Tang received the Rising Star award.

The new Best Selling Awards, based on sales data, went to City Developments Limited for Newport Residences, GuocoLand for River Modern and Sim Lian JV (Tampines 7) for Rivelle of Tampines, as well as the developers of Tengah Garden Residences and the Skye at Holland joint venture. Pinery Residences by Hoi Hup Sunway Tampines Residential won Best Selling Mixed Use Development.

The competitively judged categories were decided by an independent panel chaired by FollowTrade CEO, Roy Ling, with HLB supervising the judging. Top Singapore winners in eligible categories may advance to the Grand Final in Bangkok on Dec 11 to compete for the Best in Asia titles.

-- BERNAMA