RIYADH, Saudi Arabia--(BUSINESS WIRE)--Dec 24, 2025--
The Social Development Bank (SDB) hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, “DeveGo 2025”, from 21 to 23 December in Riyadh. Held under the patronage of His Excellency Eng. Ahmed bin Sulaiman Al Rajhi, Minister of Human Resources and Social Development and Chairman of SDB’s Board of Directors, the forum brings together government leaders, global experts, investors, and entrepreneurs to shape the future of entrepreneurship and modern business practices in the Kingdom of Saudi Arabia.
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Opening the forum, Minister Al Rajhi delivered a keynote speech on the growing vibrancy of Saudi Arabia’s entrepreneurial movement. He highlighted the Kingdom's transformation in entrepreneurship and freelance ecosystems. The Minister added that Social Development Bank injects more than SAR 8 billion annually to support enterprises and entrepreneurs, contributing to an increase in employment at bank-funded businesses from 12,000 in 2021 to more than 140,000 in 2025.
A central focus of DeveGo 2025 is building entrepreneurial capacity through the Empretec program, led by SDB and United Nations Conference on Trade and Development (UNCTAD). During the forum, SDB announced the launch of the Saudi Empretec Fellowship, attended by H.E. Rebeca Grynspan, Secretary-General of UNCTAD. This initiative marks a significant milestone in Saudi Arabia’s collaboration with international institutions to support high-potential entrepreneurs through intensive training, mentorship, and access to global networks. The fellowship aims to help Saudi entrepreneurs scale their ventures and compete internationally.
Setting the tone for the forum in his opening speech, Eng. Sultan bin Abdulaziz AlHamidi, CEO of the Social Development Bank, said: “DeveGo has become a national platform that brings together ideas, expertise, and opportunity. Through strategic partnerships, innovative financing solutions, and global programs such as Empretec in partnership with UNCTAD, we are empowering entrepreneurs to grow, scale, and compete locally and internationally. Our focus is on supporting entrepreneurs at every stage of their journey while contributing to a diversified and knowledge-based Saudi economy.”
The forum also witnessed the signing of over 50 agreements that reinforce SDB’s role in building an integrated entrepreneurial ecosystem. The agreements include innovative financing portfolios, corporate social responsibility initiatives, and local and international partnerships that expand access to financial and non-financial solutions.
*Source: AETOSWire
From right to left: Ahmed Al Rajhi, Saudi's Minister of Human Resources and Social Development, H.E. Rebeca Grynspan, Secretary-General of UNCTAD, and Sultan Al Hamidi, CEO of Social Development (Photo: AETOSWire)
A powerful winter storm swept across Southern California on Wednesday, with heavy rain threatening mudslides in areas scorched by wildfires, bringing near white-out snow conditions in the mountains and hazardous travel for millions of holiday drivers.
Forecasters said Southern California could see its wettest Christmas in years and warned about flash flooding, which could soon hit parts of Santa Barbara and Ventura counties, the National Weather Service said. Other parts of Southern California were under wind and flood advisories. Further north, much of the Sacramento Valley and the San Francisco Bay Area were under a flood watch and high wind warning through Friday.
Conditions could worsen as multiple atmospheric rivers moved across the state during one of the busiest travel weeks of the year.
“If you’re planning to be on the roads for the Christmas holidays, please reconsider your plans,” said Ariel Cohen, a National Weather Service meteorologist in Los Angeles.
Forecasters warned that heavy snow and gusts were expected to create “near white-out conditions” Wednesday in parts of the Sierra Nevada and make it “nearly impossible” to travel through the mountain passes.
Southern California typically gets half an inch to 1 inch (1.3 to 2.5 centimeters) of rain this time of year, but this week many areas could see between 4 and 8 inches (10 to 20 centimeters), National Weather Service meteorologist Mike Wofford said. It could be even more in the mountains. Gusts could reach 60 to 80 mph (97 to 128 kph) in parts of the central coast.
Atmospheric rivers transport moisture from the tropics to northern latitudes in long, narrow bands of water vapor that form over an ocean and flow through the sky.
In areas scorched by January’s wildfires, Los Angeles County officials said they were going door to door at about 380 especially vulnerable homes, ordering residents to evacuate because of the risk of landslides and debris flows.
“The threat posed by this storm is real and imminent,” Los Angeles Police Department Chief Jim McDonnell said. He urged people in burn scar areas to reconsider trying to ride out the storm at home. Parts of Los Angeles were under evacuation warnings.
Officials have taken steps to reduce the risk in and around the burn scars, with Los Angeles County installing K-rails, a type of barrier to help catch sliding debris from burned areas, as well as offering free sandbags to residents.
Road closures, downed trees, power outages and flight delays are expected as the storm continues through the week, officials said.
The storm has already caused damage in Northern California, where flash flooding led to water rescues and at least one death, authorities said. Shasta County Sheriff Michael L. Johnson declared a local state of emergency earlier this week to prepare for more rain and allow for additional search-and-rescue and hazard-mitigation efforts.
Forecasters warned of severe thunderstorms and even a small chance of tornadoes along the northern coast.
The state has deployed emergency resources and first responders to several coastal and Southern California counties, and the California National Guard remains on standby.
Associated Press writers Sophie Austin in Sacramento, California, and Jessica Hill in Las Vegas contributed to this report.
People look toward traffic on the Golden Gate Bridge from the Golden Gate Overlook in San Francisco, Tuesday, Dec. 23, 2025. (AP Photo/Jeff Chiu)
A pedestrian carries an umbrella while walking on a path at Alamo Square Park, in San Francisco, Tuesday, Dec. 23, 2025. (AP Photo/Jeff Chiu)
