Silk Road CEO Awards names selection committee

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Updated 02 April 2020

Silk Road CEO Awards names selection committee

Martin Fraenkal, president, S&P Global Platts, the world’s largest oil price reporting agency, and Ibrahim Al-Buainain, president and CEO, Aramco Trading Co., lead the International Selection Committee of the Aramco Trading New Silk Road CEO of the Year Awards 2020, alongside five other industry leaders from the energy trading, shipping, storage and refining sectors.

The New Silk Road CEO of the Year Awards, founded in 2017 in partnership with the Port of Fujairah, strive to ensure that the worthiest nominees globally are identified for their outstanding record of accomplishment in the categories of Trading, Refining, Storage and Ports.

“Given that Fujairah has been an active trader across these oceans for 500 years, it is only fitting that the celebration of these 21st century pioneering industry leaders be hosted by this global trading hub,” said Mousa Morad, managing director of the Port of Fujairah. 

“These CEOs are spearheading the transformation of energy trading across this ancient Silk Road route, which is literally changing the flow of world energy trading,” he added.

Others on the committee include: Roger Chia Kim Piow, chairman and MD, Rotary Group of Companies; Thomas Waymel, president trading and shipping, Total Oil Trading SA; Mike Muller, director — oil business development and head of trading, Vitol Asia; Datuk Md. Arif Mahmood, executive vice president and CEO of Downstream, PETRONAS; and Morad.

The 2020 winners will be presented their awards at a gala dinner event held in Fujairah on Sept. 28th on the eve of the 10th Gulf Intelligence Energy Markets Forum.



Positive social impact of COVID-19 in KSA: Survey

Updated 12 August 2020

Positive social impact of COVID-19 in KSA: Survey

A survey commissioned by Al-Aghar Group, an independent Saudi think tank, in partnership with global management consultancy Kearney, has revealed that most thought leaders and decision-makers in the Kingdom anticipate that COVID-19 will be a positive accelerant of the transformation already underway in the Kingdom. The survey focused specifically on the social impact of the COVID-19 crisis on the Kingdom through 2025.

Respondents believed that COVID-19 is accelerating the advent of the “future of work” in the Kingdom and more than 65 percent see this as fundamentally positive. About 69 percent see the growing need for the retraining of employees as positive, spurring national adaptation to the new normal. However, the survey also revealed some concerns regarding the security of formal employment and self-employment, with 37 percent seeing the effect of the crisis as negative.

Most survey respondents (70 percent) expect education in the Kingdom to undergo a positive transformation with the adoption of new, innovative, and inclusive modes of learning.

Seventy-eight percent of the respondents believe that the impact of the pandemic on the health care in the Kingdom through 2025 will be highly beneficial.

Fifty-eight percent of respondents believe there will be a wide adoption of telemedicine services in the Kingdom in the near future, as patients gain greater comfort and confidence in this method of consultation with their health providers.

Most respondents believe the health crisis has accelerated the process of digital transformation in the country, particularly in the finance and retail sectors. Seventy-five percent of respondents see the anticipated wider prevalence of e-commerce as positive, and 89 percent see as positive increasing use of cashless payments for face-to-face transactions by 2025.

By 2025, 78 percent of respondents expect that COVID-19 will lead to a significant and welcome (83 percent) step change in government preparedness for future crises. Meanwhile, 68 percent of respondents anticipate a significant impact on government information-sharing and 65 percent anticipate a moderate, but positive change in the willingness of citizens to contribute toward government efforts.

Prince Faisal bin Abdullah bin Mohammed Al-Saud, chairman, Al-Aghar Group, said: “Saudi Arabia has a proud history of resilience and has thrived even in the most challenging situations. While this pandemic has severely affected us all, the survey results confirm the depth of our intention to use this current situation to accelerate our national progress.”

Rudolph Lohmeyer, partner and head of National Transformations Institute at Kearney Middle East, said: “The survey results clearly reveal the deep, optimistic resilience of the Saudi people and their implicit commitment to the Kingdom’s national transformation. Despite the near-term hardships caused by the crisis, respondents anticipate that the most significant medium-term impacts will be positive.”