DAVOS: The climate is on everybody’s lips at WEF 2018, in more ways than one. Climate change and issues of environmental sustainability are prominent on the agenda at the gathering in Davos. Environmental risks were identified as the No. 1 concern of the WEF’s Global Risks Report, published just before the event began and intended to set a theme for the debates.
So much of the thinking is centered on climate change that it was fitting that the opening performance for the Crystal Awards ceremony on the eve of the first day proper was a performance of Vivaldi’s Four Seasons concerto aimed at “exploring the fine line between chaos and harmony in our relationship with nature.”
Outside the Congress Hall where the concert took place, that fine line was explored further, and chaos was definitely the winner. Even for the Swiss, whose whole way of life has been defined by their ability to take on and beat the forces of nature, it was a challenge to deal with such unpredictable weather conditions.
Of course, snow at 1,500 meters up in the Swiss Alps is totally expected. But, as the locals explained, this was not normal snow. There had been several days of extreme snow falls, and the evidence was everywhere: High mountains of the stuff bulldozed to the side of the road; fountains of it being thrown into the air by those clever snow-blowers virtually every resident of Davos seems to keep in their garage; and multiple layers of it on the town’s freezing streets.
But on Monday, just as the Weffers were gathering from all over the world, nature played a cruel trick. The temperature rose quite sharply a few degrees below zero, and it began to rain. The effect on all that lying white stuff was catastrophic.
Roads were turned into slithering rivers of slush that even chained wheels had problems with. When, a few hours later, the temperature dropped again, the Davos-Klosters transit corridor turned into a dirty brown skating rink.
“Masters of the universe,” in very expensive but totally impractical handmade shoes, sitting on their backsides in the slush was a common sight, and strangely satisfying.
Train was the only way to make the journey between the two towns, and even that was a challenge, with services late (unheard of in Switzerland) and unusually overcrowded.
What will Donald Trump — who famously prefers the balmy climate of Mar-a-Lago in Florida to winter in New York or Washington — make of it all when he arrives later in the week? His arrival and the security arrangements involved will only add to the chaos.
Seasoned Weffers are indulging in a little sport to while away the hours spent waiting for trains or shuttle cars. One may only guess what Trump’s corny quip will be about the Swiss weather.
The favorite at the moment is something like: “How can you complain so much about global warming? Just look at all this snow!”
Davos Diary: Snowy WEF struggles to balance the relationship between chaos and harmony
Davos Diary: Snowy WEF struggles to balance the relationship between chaos and harmony
UNCTAD, Social Development Bank launch fellowship to power Saudi entrepreneurs
RIYADH: The Social Development Bank has signed a memorandum of understanding with UN Trade and Development to launch the “Empretec Saudi Fellowship,” a new initiative aimed at equipping high-potential Saudi entrepreneurs with advanced training and tools to scale their ventures.
The agreement was signed on the sidelines of the second edition of the DeveGo 2025 forum, held on Dec. 21–22 at the King Abdulaziz International Conference Center in Riyadh. The event brought together entrepreneurs, policymakers, and representatives from regional and international organizations, alongside public and private sector leaders.
Featuring more than 150 exhibitors, 85 speakers, and 45 workshops, the forum focused on sharing local and global best practices and strengthening the Kingdom’s entrepreneurial ecosystem.
The Empretec Saudi Fellowship is part of UNCTAD’s flagship capacity-building program to promote entrepreneurship and support micro, small, and medium-sized enterprises and startups. Active in more than 40 countries, the program seeks to develop personal entrepreneurial behaviors through intensive training, access to international experts, and technical tools that help transform promising ideas into scalable, high-impact businesses.
Rebeca Grynspan, UNCTAD secretary-general, said Saudi Arabia offers fertile ground for entrepreneurial growth.
“Saudi Arabia has a wonderful platform to bring everybody up, and the entrepreneurs here are so eager. They have ideas, creativity, and energy,” she told Arab News. “If they come through our program with the Social Development Bank, which does a wonderful job, they will be more successful — because that’s what we want.”
In his opening remarks, Saudi Minister of Human Resources and Social Development Ahmed Al-Rajhi, who also chairs the SDB board, highlighted the rapid evolution of the Kingdom’s startup landscape.
“The Kingdom is witnessing a qualitative transformation in the entrepreneurship and freelance ecosystem, enabling young men and women to enter new promising sectors such as artificial intelligence, renewable energy, advanced technologies, and venture capital,” he said. “This provides broader opportunities to contribute to innovation, expansion, and global competitiveness.”
During a tour of the exhibition alongside Al-Rajhi, Grynspan met a wide range of small and medium-sized businesses and handicraft makers, praising the depth of local talent. She noted that participants spanned the full spectrum of enterprises — from early-stage ventures to more established and sophisticated companies — reflecting a rich diversity of experience.
Al-Rajhi said the Social Development Bank invests more than SR8 billion annually to support enterprises and entrepreneurs, helping raise employment in bank-financed businesses from about 12,000 in 2021 to more than 140,000 in 2025.
Beyond financing, the bank runs several non-financial programs, including the Jada 30 business communities, which have incubated more than 4,300 enterprises across 13 cities, and the Dulani Business Center, which has delivered over 67,000 consultations benefiting more than 150,000 male and female entrepreneurs.
Speaking on the broader economic outlook, Grynspan added: “This is a wonderful place to come. Now is an economy that is thriving, is a population that is hopeful. And you have these young, talented people that are only waiting for an opportunity to make it happen for everybody.”
During the forum, the bank also signed multiple cooperation agreements spanning key sectors such as finance, education, energy, healthcare, heritage, the nonprofit sector, and freelance work. The partnerships align with SDB’s strategy to build an integrated system of financial and non-financial empowerment tailored to the needs of entrepreneurs, startups, and micro-enterprises.
