Mobily appoints former Saudi transport minister Al-Amudi as new Chairman

Mobily appoints former Saudi transport minister Al-Amudi as new Chairman
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Updated 07 December 2021

Mobily appoints former Saudi transport minister Al-Amudi as new Chairman

Mobily appoints former Saudi transport minister Al-Amudi as new Chairman

RIYADH: Saudi telecom operator Etihad Etisalat Co, also known as Mobily, has appointed former Saudi transport minister Nabeel Mohamed Al-Amudi as its new chairman.

Mobily also appointed Suliman Abdulrahman AlGwaiz as Vice Chairman, following the Board of Directors' meeting on Monday Dec. 2, according to a bourse filing.

 


Lebanon in power deal with Jordan

Lebanon in power deal with Jordan
Updated 27 January 2022

Lebanon in power deal with Jordan

Lebanon in power deal with Jordan
  • The agreement is part of a wider plan to pump Egyptian gas to a power station in northern Lebanon

BEIRUT: Lebanon signed a deal on Wednesday to import electricity from Jordan through Syria after US assurances that the agreement was not in breach of sanctions against the Assad regime in Syria.
The deal is expected to supply Lebanon with two hours of power a day, double what is currently available from EDL, the state electricity generating company. Electricity from Jordan will cost Lebanon about $200 million a year.
“This is an important, historic moment for Lebanon ... not because of its impact but because of its symbolism,” Energy Minister Walid Fayad said. He said the deal was a “modest but very important agreement for the Lebanese people, who need every extra hour of electricity.”
Lebanon has not had 24-hour mains power since its civil war ended in 1990, but the country’s economic meltdown has led to power cuts of up to 23 hours a day, and most people have to rely on expensive private generators.


ANALYSIS: Lebanon’s new electricity deal with Syria and Jordan is a long way from being switched on 


The deal with Jordan was funded by the World Bank, and must be approved by Lebanon’s parliament. It is expected to be implemented in the next two months.
The agreement is part of a wider plan to pump Egyptian gas to a power station in northern Lebanon via a pipeline that runs through Jordan and Syria.
“The Jordanian electricity and Egyptian gas could provide around six hours of electricity,” energy policy consultant Jessica Obeid said.
However, she described the deals as “a quick fix that does not solve any of the sector’s problems, which are deeply rooted in politics and governance.”


Who’s coming to Saudi Arabia’s LEAP conference

Who’s coming to Saudi Arabia’s LEAP conference
Updated 27 January 2022

Who’s coming to Saudi Arabia’s LEAP conference

Who’s coming to Saudi Arabia’s LEAP conference
  • The event will host workshops and sessions based around the future of IT including, education, financial technology, electric cars and smart cities

RIYADH: Organizers of the LEAP conference in Saudi Arabia will host more than 400 speakers across six conferences during the three-day event.

Speakers will attend from a range of international and local organizations — such as Visa, Ericsson, JP Morgan, Cisco, and Huawei, as well as stc, NEOM, and the King Abdullah University of Science and Technology.

The event will host workshops and sessions based around the future of IT including, education, financial technology, electric cars and smart cities. Other specialized sessions, called Orbital Talks, will host speakers on these specific industries and topics:

• FinTech

• Future energy

• Creative economy

• Health technology

• EduTech

• Smart cities

• Retail

• The fourth industrial revolution

There will also be a startup pitch stage that will see entrepreneurs bid to attract seasoned investors. The winner of the pitch contest will receive a cash prize for their new business.

Some of the conference star speakers include:

Börje Ekholm

• President and CEO of Ericsson

• Appointed on Jan. 16, 2017

• Board member of Alibaba, Nasdaq, Trimble, and Royal Institute of Technology

Olayan Al-Wetaid

• Group CEO of Saudi Arabia’s stc

• Has over 22 years of experience in telecom

• Has held multiple board positions across several stc subsidiaries

Roberto Carlos

• FIFA World Cup-winning football player

• Former Real Madrid player

• Launched Ginga Scout, a software system connecting players with coaches across the globe

Joseph Bradley

• CEO of NEOM Tech & Digital Co.

• Served in senior roles at Cisco Systems for over 15 years

• Also worked for C3 Communications, AT&T, and Pacific Bell

Stephen Carter

• Group CEO of Informa

• Former UK minister of communications

• His career has spanned the private and public sectors

Ahmad Al-Khowaiter

• Chief technology officer of Saudi Aramco

• Joined Aramco in 1983 and has since held various technical roles in oil and gas production

Eugene Kaspersky

• CEO and co-founder of Kapersky

• Renowned cybersecurity expert

Tony Chan

• President of King Abdullah University of Science and Technology, or KAUST

• Has a PhD in computer science from Stanford University

Siim Sikkut

• Government chief information officer of Estonia

• In charge of the country’s digital government and innovation work


Iconic London store Fortnum & Mason looking to expand into Qatar in time for World Cup

Fortnum & Mason, an upmarket shop in Piccadilly that counts Queen Elizabeth II and Prince Charles among its customers, wants to expand into Qatar. (Shutterstock)
Fortnum & Mason, an upmarket shop in Piccadilly that counts Queen Elizabeth II and Prince Charles among its customers, wants to expand into Qatar. (Shutterstock)
Updated 26 January 2022

Iconic London store Fortnum & Mason looking to expand into Qatar in time for World Cup

Fortnum & Mason, an upmarket shop in Piccadilly that counts Queen Elizabeth II and Prince Charles among its customers, wants to expand into Qatar. (Shutterstock)
  • 315-year-old store counts Queen Elizabeth and Prince Charles among its customers

LONDON: One of London’s most popular department stores is in talks to open a branch in Qatar ahead of this winter’s FIFA World Cup, according to a Sky News report.

Fortnum & Mason, an upmarket shop in Piccadilly that counts Queen Elizabeth II and Prince Charles among its customers, is believed to be discussing a franchise opportunity with partners in the country.

The company’s chief executive, Tom Athron, wants to continue the brand expansion which took place under his predecessor, Ewan Venters, which included a first outlet in the Gulf, in Dubai, which closed in 2017.

The 315-year-old store, which is owned by a branch of the Weston family, already has a store in Hong Kong, and partnerships in Australia and Japan.

“As part of our strategy, we are exploring opportunities to expand both online and internationally, the Gulf being a region we’d like to look at again,” a spokesman for Fortnum & Mason said.

Fortnum’s business was hit badly during the early stages of the COVID-19 pandemic, but has seen strong growth in its online business, and the firm hopes expanding into Qatar ahead of the World Cup in November could raise the brand’s global profile.


US car makers and medical suppliers warn chip shortage will last for more than six months

US car makers and medical suppliers warn chip shortage will last for more than six months
Updated 26 January 2022

US car makers and medical suppliers warn chip shortage will last for more than six months

US car makers and medical suppliers warn chip shortage will last for more than six months

RIYADH: US businesses are worried that the global semiconductor supply shortage is set to last for at least six more months, according to report put together by the country's Department of Commerce.

The White House was urged to push ahead with a $52 billion plan previously submitted to Congress to stimulate semiconductor makers and encourage them to build factories in the US, Bloomberg reported.

The report, released on Tuesday, was based on information taken from more than 150 companies in the semiconductors supply chain, and stated that the global shortage of chips will persist until the second half of 2022 as: “there is a significant, persistent mismatch in supply and demand for chips.”

The most affected industries by the shortage include automakers, consumer electronic, medical devices, broadband, and auto industries.

Even though the government does not have many alternatives in hand to solve the current issue, US officials will focus on resolving bottlenecks in those supply chains, and investigate claims of chips price gouging for some types of semiconductors, the report said.

Average inventory level fell from 40 days to fewer than 5 days, resulting in no room for error, Commerce Secretary Gina Raimondo said in a briefing with reporters discussing the findings of the report. The median demand for chips was 17 percent higher in 2021 than in 2019, coupled with disproportionate increases in supply.

Disruption in the supply of semiconductors, which plays a key factor in determining the country’s inflation level, could threaten to help swing Congress to Republican control in November’s midterm elections.

Many firms have been recently expanding their operations in the US, with Intel Corp. announcing it is building the world’s biggest silicon-manufacturing site in Columbus, Ohio, worth $20 billion, and expected to become operational in 2025.


Saudi, Iraq electrical connection to generate 1GW of power

Saudi, Iraq electrical connection to generate 1GW of power
Updated 26 January 2022

Saudi, Iraq electrical connection to generate 1GW of power

Saudi, Iraq electrical connection to generate 1GW of power

RIYADH: Saudi Energy Minister Prince Abdulaziz bin Salman announced that the electrical connection between Saudi Arabia and Iraq will generate one gigawatt of power initially, according to the Iraqi News Agency.

This comes after Iraq has signed a memorandum of understanding regarding the matter with the Saudi side.

Nevertheless, “the Iraqi-Saudi cooperation is not limited to the electrical connection only, but rather it is the beginning of a joint collective action,” Iraqi News Agency reported, citing the Prince.

Bilateral models need to be further developed and strengthened on a regional and Arab scale, he added.