Final Day of InFlavour in Riyadh Celebrates Regional F&B Ecosystem

InFlavour ended its three-day run on Wednesday. (SPA)
InFlavour ended its three-day run on Wednesday. (SPA)
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Final Day of InFlavour in Riyadh Celebrates Regional F&B Ecosystem

InFlavour ended its three-day run on Wednesday. (SPA)
InFlavour ended its three-day run on Wednesday. (SPA)

InFlavour ended its three-day run at Riyadh Exhibition and Conference Center, Malham, on Wednesday with the region’s growing start-up industry at the top of the menu. Prominent figures from across the Middle East took to the inaugural event’s various stages to share personal growth stories, while the first Five-Star Pitch Fest – a three-day knock-out competition for F&B start-ups – confirmed its winners.

Speaking on the Main Course stage early in the afternoon, Jordanian chef Manal Al Alem discussed the importance of keeping tradition and culture alive. With more than four million followers on Instagram and in excess of 2.6 million subscribed to her YouTube channel, the “Queen of the Arabian Kitchen” believes social media can help rather than hinder when it comes to ensuring younger generations remain connected with their food heritage.

“It is an ongoing challenge with the new generation as they are so used to quick food – the press of a button nowadays means you can have any cuisine you wish,” she said. “Also, traditional food can sometimes be one-dimensional in terms of flavors and the new generation prefers multiple flavors when they eat a meal.

“I like to use my influence on social media to try and encourage my followers to try different things. I work with them to find ways of merging tradition with current trends and have seen some incredible recipes come out of social media. I always like to engage with my followers and leave comments on how they can improve their creations – I believe this is very important when trying to inject traditional culture into modern cuisine trends.”

Later on the same stage, the grand finale of InFlavour’s inaugural Five-Star Pitch Fest saw the industry’s brightest and best start-ups compete to win one of three coveted prizes: The “Plant The Idea Award” for best early-stage start-up included a US$10,000 prize; “Flourishing Founder Award” celebrated the best well-established start-up and also provided a prize of US$10,000; while the “InFlavour Award” was given to the most impressive startup overall, rewarding the winners with a check for US$30,000.

Starting on InFlavour’s opening day, 33 semi-finalists battled it out on stage to impress the 24 investors-turned-judges and secure one of six finalist spots. The grand finale welcomed Prince Khaled bin Alwaleed bin Talal Al Saud, the founder and CEO of KBW Ventures, alongside industry veterans Andrew D Ive, founder and managing general partner of Big Idea Ventures, and Dana Al Salem, founder of Merit Capital, as part of the judging panel, who scored the start-ups based on how each tackled creativity, innovation, potential, functionality, impact, and people and society.

Taking home the “Plant The Idea Award” for best early-stage start-up was Saudi-based Terraxy, a spin-off from King Abdullah University of Science and Technology (KAUST). Commercializing its SandX and CarboSoil technologies, Terraxy aims to address the ongoing challenges posed by harsh and arid environments by ultimately providing low-cost and environmentally friendly solutions for growing plants in deserts.

The “Flourishing Founder Award” for best well-established start-up, meanwhile, was Saudi-based Barakah, an online marketplace that enables food retailers to sell their surplus products and meals to consumers at heavily discounted prices.

Taking home the “InFlavour Award” and its US$30,000 prize was US-based A Dozen Cousins, a natural food brand that makes convenient and nutrient-rich meals, side dishes, and sauces inspired by traditional Creole, Caribbean and Latin American recipes.

“I was thrilled to showcase our brand and what we’ve built over the years,” said Ibraheem Basir, company founder and CEO. “It was so refreshing to hear all the pitches and it’s always a privilege to emerge as the winner. Looking ahead, our future involves continued growth, expanding distribution, and entering new markets. The prize money will help us expand our team and allocate resources efficiently.”

Speaking on the experience of judging some of the most innovative start-ups in the F&B ecosystem, Prince Khaled added: “It has been an incredible three days of pitches. We’ve seen some truly groundbreaking innovations and products from around the world. It is really exciting to see how these start-ups plan to transform not only the wider world’s F&B landscape, but also specifically Saudi Arabia’s. Congratulations once again to all participants and especially the three winners.”

Earlier in the day, Alia AlKasimi, the co-founder of Oh Delices Creative, had delivered a masterclass focused on current trends, spotlighting a cookbook her company created using only generative artificial intelligence (AI), and what potential repercussions the technology could have on the food marketing industry.

“After seeing so much talk about the possibilities of AI, my team and I got together in February of this year to explore how we could use these tools in our work, and in particular, the culinary space,” she said.

“We set out to make a cookbook solely using both text and image-based generative AI. As we are a Morocco-based company, we asked the program to come up with dishes that have never been done before, but still encompass the tradition of Moroccan food. What came out was nothing short of amazing,” she added.

Some of the dishes that made the final cut of Spice & Machine: 10 Moroccan Recipes Born From Artificial Intelligence include a strawberry harissa gazpacho, orange honey quinoa, and a Moroccan mint tea cake. Yet before they could be included, first Al Kasimi and her team needed to generate supporting images – and then, of course, the best part: Testing the recipes for real.

“I’ll be honest, we were all expecting the dishes to taste horrible, but we ended up changing next to nothing as every dish worked perfectly,” she said. “It was a real eye-opener for us all just how powerful AI can be if you learn to harness it properly. A project like this would usually take seven people up to four weeks to create – we did this with two people in less than a week. Is AI going to replace humans? It’s a broad question, but what I do know is humans who have learnt to properly utilize AI will replace humans who haven’t. That much is certain.”

Organized by Tahaluf, the Informa LLC joint venture with the Events Investment Fund and SAFCSP, and with the support of the Saudi Ministry of Environment, Water and Agriculture, the inaugural InFlavour proved a hive of activity with tens of thousands of visitors being joined by 400 brands, 200 investors, and 200 speakers representing 143 countries across the three days.



Dollar Resumes Upward Trend, Euro Hits Lowest since Nov 2022

US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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Dollar Resumes Upward Trend, Euro Hits Lowest since Nov 2022

US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

The dollar hit new multi-month highs against the euro and the pound on Thursday, the first day of 2025 trading, as it built on last year's strong gains on expectations US interest rates will remain high relative to peers.

The euro fell to as low as $1.0314, its lowest since November 2022, down around 0.3% on the day. It is now down nearly 8% since its late September highs above $1.12, one major victim of the dollar's recent surge.

Traders anticipate deep interest rate cuts from the European Central Bank in 2025, with markets pricing in at least four 25 basis point cuts, while not being certain of even two such moves from the US Federal Reserve, Reuters reported.

The dollar was hitting milestones across the board and the pound was last down 0.65% at $1.2443, its lowest since April, with its fall accelerating after it broke through resistance around $1.2475.

"It's more of the same at the start of the new calendar year with the dollar continuing to extend its advances in anticipation of Trump putting in place friendly policies at the start of his term," said Lee Hardman, senior currency analyst at MUFG.

US President-elect Donald Trump's policies are widely expected to not only boost growth but also add to upward price pressure. That will lead to a Fed cautious about cutting rates too much further, in turn underpinning US Treasury yields and boost dollar demand.

A weaker growth outlook outside the US, conflict in the Middle East and the Russia-Ukraine war have also added to demand for the dollar.

The dollar also reversed an early loss on Thursday to climb against the Japanese yen, and was last up 0.17% at 157.26.

It reached a five-month high above 158 yen in late December, potentially putting pressure on the Bank of Japan, which is expected to raise interest rates early this year, but possibly not immediately.

"If dollar/yen were to break above 160 ahead of the next BOJ meeting, that could be a catalyst for the BOJ to hike in January rather than wait until March," said Hardman.

"Though for now markets are leaning towards March after the dovish comments from (governor Kazuo) Ueda at his last press conference."

Even those who are more cautious about sustained dollar strength think it could take a long time to play out.

"The dollar may be vulnerable – but only if the US data confound market expectations that the Fed doesn’t cut rates more than once in the first half of this year, and not by more than 50bp in the whole of 2025," said Kit Juckes chief FX strategist at Societe Generale in a note.

"There's a good chance of that happening, but it seems very unlikely that cracks in US growth will appear early in the year – hence my preference for taking any bearish dollar thoughts with me into hibernation until the weather improves."

China's yuan languished at 14-month lows as worries about the health of the world's second-biggest economy, the prospect of US import tariffs from the Trump administration and sliding local yields weighed on investor sentiment.

Elsewhere, the Swiss franc, another victim of the recent dollar strength, gave back early gains to last trade flat at 0.90755 per dollar.

The Australian and New Zealand dollars, however, managed to break away from two-year lows touched on Tuesday. The Aussie was 0.36% higher at $0.6215 having dropped 9% in 2024, its weakest yearly performance since 2018.

The kiwi rose 0.47% to $0.5614.