Aramco: A step ahead in digital transformation 

Aramco: A step ahead in digital transformation 
Saudi Aramco signs a strategic alliance with SAP Saudi Arabia to expand the digitalization of its Enterprise Resource Planning (ERP) systems. (Saudi Aramco)
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Updated 30 November 2021

Aramco: A step ahead in digital transformation 

Aramco: A step ahead in digital transformation 

Aramco migrated its largest SAP Enterprise Resource Planning system to SAP’s latest generation technology, S/4HANA. Over 1,200 employees worldwide, from the Kingdom, the US, Europe and Asia participated in this major event. This is a major step that will enable the Company to meet the demand for the latest digital technologies and support its digitalization ambitions. To facilitate this, it is imperative that the ERP systems supporting the Company’s core business are upgraded to the latest technologies.

Saudi Aramco’s strategy to migrate the ERP systems comprises a hybrid of the 3 approaches: System Migration of the main ERP systems to an SAP S/4HANA on-premise digital core; System Consolidation to consolidate specific ERP systems into the Digital Core resulting in a reduction in the number of systems and applications; and System Migration to Cloud for specific applications. The new platform provides technologies in the areas of mobility, machine learning, advanced analytics and Internet-of-Things (IoT) that will facilitate a significant number of digitalization use cases. The first set of business applications transferred to the new ERP system was finance and logistics, which are used by more than 64,000 employees and contractors.

This is the first of 13 ERP systems to be migrated to the new technology under Aramco’s ERP Transformation Project and is due to be completed by December 2023.

Yousef Al-Ulyan, Vice President of Information Technology at Aramco, said: “This is an important milestone in our digital journey. As of today, Aramco is the largest S/4HANA installation in the region and in the Oil & Gas Industry globally. This adoption of a cloud-based ERP platform, demonstrates another instance of how Aramco pursues cutting edge technologies to reinforce Aramco’s excellence in efficient operation. By embracing new yet added value technologies, the company will realize entirely new ways of doing business that will ultimately help strengthen our ability to serve our customers and substantially increase our competitive edge.”

Peter Maier, President Industries and Customer Advisory at SAP, said: “We are very proud that Aramco trusts SAP S/4HANA to run their core business. This new platform will optimize key business processes with intelligent technologies and support the company’s strategy to provide clean and reliable energy and innovative products. I am looking forward to seeing Aramco successfully complete this transformation journey and redefine the next business practices in the industry.”


Spain’s IE Business School to provide leadership training to stc employees

Spain’s IE Business School to provide leadership training to stc employees
Updated 24 May 2022

Spain’s IE Business School to provide leadership training to stc employees

Spain’s IE Business School to provide leadership training to stc employees

In line with its strategy to invest in national talents and prepare future leaders, stc has signed a three-year agreement with IE Business School, a top-ranked international business school located in Madrid, Spain. The agreement reflects stc’s commitment to the continuous development of its professionals and to ensure that its group of middle managers, specifically men and women who are pre-section managers, section managers and directors, are prepared for leadership positions.

The agreement’s signing ceremony was held at the stc Academy in Riyadh, in the presence of Ambassador of Spain Jorge Hevia Sierra; Dr. Moudhi Al-Jamea, vice president of stc and dean of stc Academy; and Santiago Iñiguez de Onzoño, president of IE University.

Commenting on the agreement, Al-Jamea said: “The stc Academy’s vision is to be the learning and innovation hub in the Kingdom and beyond, with the objective of enabling the stc Group to drive digital and cultural transformation. Our aim is to develop future leaders with strategic capabilities through innovative learning solutions and experiences.”

De Onzoño said: “This agreement between IE Business School and stc is expected to benefit more than 2,000 individuals. Furthermore, the impact will be highly personalized, with each leadership program of the agreement focused on the specific needs of stc middle management employees and based on the company’s leadership and core competencies.”


BMW Group uses sustainable paints made from bio-waste

BMW Group uses sustainable paints made from bio-waste
Updated 24 May 2022

BMW Group uses sustainable paints made from bio-waste

BMW Group uses sustainable paints made from bio-waste

BMW Group is using innovative technologies in its efforts to improve sustainability and taking advantage of new options to conserve resources and reduce emissions from painting bodywork.

The BMW Group is the first automotive manufacturer worldwide to use matte paints made from biomass instead of crude oil at its European plants. In addition to this, BMW Group Plants Leipzig and Rosslyn (South Africa) are also using sustainably produced corrosion protection. Renewable raw materials such as bio-waste or waste from sewage treatment plants serve as the starting material for the paints. The CO2 savings determined in a TÜV-certified process amount to more than 15,000 tons of CO2 emissions between now and 2030.

“By reducing our use of fossil raw materials, we can conserve natural resources and lower CO2 emissions at the same time. To achieve this, we are increasingly relying on sustainability innovations in our supplier network,” said Joachim Post, member of the board of management of BMW AG responsible for purchasing and supplier network. “Innovative paints based on renewable raw materials are an important step in this direction.”

BASF’s innovative production process makes it possible to replace petroleum-based precursors, such as naphtha, with renewable raw materials from organic waste, starting in the early stages of paint production. This not only reduces consumption of fossil resources, but also avoids the CO2 emissions associated with the production, transport and processing of crude oil.

The corrosion protection and matt paints used at BMW Group Plants Leipzig and Rosslyn are chemically identical to the paints previously used, with all the same properties as conventionally manufactured body coatings.

 


UAE proptech startup Stella Stays enters Saudi market

UAE proptech startup Stella Stays enters Saudi market
Updated 24 May 2022

UAE proptech startup Stella Stays enters Saudi market

UAE proptech startup Stella Stays enters Saudi market
  • The Stella Stays Riyadh Olaya Tower, which will open its door in June, will offer modern, fully equipped, tech-enabled apartments and hotel suites

Emirati proptech startup Stella Stays has announced its expansion into Saudi Arabia, introducing the first tech-enabled residential hospitality concept in the region.

The Stella Stays Riyadh Olaya Tower, which will open its door in June, will offer modern, fully equipped, tech-enabled apartments and hotel suites, a co-working space, and recreational and commercial amenities.

Stella Stays offers holidaymakers, business travelers, and residents a seamless hospitality experience, through leveraging ground-breaking technology and modern service. Guests and residents in Saudi Arabia will be able to use the Stella Stays app to navigate the entire journey — from booking and managing their stays, checking-in, controlling smart home systems, to ordering a wide range of guest services. Payment terms are flexible and can be made through various methods, including debit, credit cards and crypto payments.

Riyadh and Jeddah are strategic locations for Stella Stays’ expansion with more than $1 trillion in real estate and infrastructure developments underway. The Kingdom’s economy has fueled solid growth in residential construction with developers progressing a booming number of freehold apartment projects. Saudi Arabia also offers some of the most attractive setup costs in the real estate sector in the region.

Mohammed Al-Ghussein, chairman of Stella Stays, said: “We are extremely proud of our launch in Saudi Arabia, and we believe that our vision for the future of living and hospitality aligns perfectly with Vision 2030, in transforming the Kingdom into a world economic center with blossoming tourism and entertainment industries. The speed of national development is phenomenal, with around 730,000 homes to be added to Riyadh by 2030.

Stella Stays aims to disrupt the Kingdom’s hospitality sector landscape by partnering with real estate developers and property owners, such as Four Direction Development, to provide an innovative residential hospitality concept, with unmatched profitability potential.”

Four Direction Development has extensive experience in terms of investment returns since 2014 with several development projects around the Kingdom.

“We are excited to announce our agreement with Stella Stays in the Kingdom of Saudi Arabia that will boost both the hospitality and travel industries. Stella Stays offers us, the property owner, hands-off management with real-time analytics that delivers significantly more income and less operational costs compared to traditional hotel models,” said Abdullah Al-Majed, co-founder at Four Directions Development.

Stella Stays’ real estate portfolio growth strategy in Saudi Arabia is through master leases or profit-sharing agreements with property owners and developers. To create a global real estate pipeline, the company uses proprietary algorithms that identify, evaluate, and select the most desirable properties around the world, based on location, financial projection, and trends.

Mohannad Zikra, CEO and co-founder of Stella Stays, said: ‘‘The digital economy, COVID-19, and tech-savvy millennials are driving massive behavioral shifts related to how people live, travel and work. Business travel is also bouncing back and increasing significantly, requiring the flexibility for longer stays.

When Stella Stays began operations in 2019, the average length of stay was three nights per booking. Today, the average length of stays has increased to 28 nights per booking, with many repeat guests and permanent residents. Stella Stays continues to capture these opportunities by creating modern living spaces, futuristic technology and a highly profitable business model. Our occupancy is now higher than the pre-pandemic level, reaching 100 percent around events such as Expo 2020 Dubai and the Formula 1 Bahrain Grand Prix 2022.’’


ROSHN announces first integrated community in Jeddah, Al-Arous

ROSHN announces first integrated community in Jeddah, Al-Arous
Updated 24 May 2022

ROSHN announces first integrated community in Jeddah, Al-Arous

ROSHN announces first integrated community in Jeddah, Al-Arous
  • First integrated community in Jeddah will extend over approximately 4 million square meters

JEDDAH: ROSHN, Saudi Arabia’s national mixed-use developer, and a fully owned company by the Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, announced its new venture, the Al-Arous community, during the Al-Hilal and Al-Ittihad match in Prince Mohammed bin Salman Cup Professional League.
The Al-Arous community will extend over approximately 4 million square meters, and includes more than 18,000 different residential units to suit all segments of society. Al-Arous is ROSHN’s second community, and part of a larger strategy of developing modern and vibrant neighborhoods in four regions and nine cities in the Kingdom.

The Al-Arous community will extend over approximately 4 million square meters, and includes more than 18,000 different residential units. (Supplied)


Al-Arous is located in north Jeddah, at a site that connects the population with the city’s main roads and public transportation network. The community will include parks, pedestrian walkways, bicycle paths, restaurants, cafes, schools and mosques, all of which will be developed to the highest standards. Like other ROSHN communities, Al-Arous is designed to offer a modern, open lifestyle, while preserving the Kingdom’s rich heritage and local urban designs. 
The development of ROSHN’s latest community is another important step toward the Vision 2030 ambitions of raising the quality of life of all Saudi citizens and boosting homeownership levels across the country.


Riyadh Luxury Week to spotlight watch & jewelry trends

Riyadh Luxury Week to spotlight watch & jewelry trends
Updated 23 May 2022

Riyadh Luxury Week to spotlight watch & jewelry trends

Riyadh Luxury Week to spotlight watch & jewelry trends

The second edition of Riyadh International Luxury Week will kick off today in the Saudi capital, with an exciting lineup of watch and jewelry brands showcasing their creations, as well as a host of interactive experiences for guests. The event will run from May 24-27.

As part of its wide-ranging program, and for the first time ever in Saudi Arabia, two specialized seminars supported by Sotheby’s and the National Committee for Precious Metals and Gemstones will be held. Open to the public, the talks will be run by international and regional experts who will touch on trends, creativity, and innovation within the watch and jewelry industry, presenting real-life cases of excellence and discussing industry directions and real-life case studies. 

The first seminar, titled “Jewelry Industry” will take place on Day 2 of Riyadh International Luxury Week on May 25, and will see Nezar Jamil Mukhtar, member of Saudi Arabia’s National Committee for Precious Metals and Gemstones and member of Gold and Jewelry Committee of Riyadh Chamber; Sophie Stevens, jewelry specialist at Sotheby’s; Nadine Attar, founder and designer of Nadine Jewellery; and Seema Haji, designer, blogger, and journalist, take to the stage. Topics will include an introduction to gemstones, traditional hand-drawing vs 3D jewelry design, e-commerce and conventional trading, how to start up a jewelry workshop, and introducing collections to international auction houses among others.

On May 26, Frederic Watrelot, watch specialist at Sotheby’s, and Khalid Al-Seif, watch collector and blogger, will host a talk on “Watchmaking and Collecting,” with Evelyne Genta, wife of the late Swiss watch designer Gerald Genta, participating virtually, live from London. They will guide guests on how to start a collection, buying and selling at auctions, the pre-owned market, complications, global watch exhibitions, watch influencers, the rise of digital media, and more.

The seminars will kick off on May 25 with a keynote speech by Krayem Al-Enazi, president of the National Committee for Precious Metals and Gemstones. Both sessions will be held from 4 p.m. to 6 p.m. in Al-Faisaliah Hotel.