Arab Women Forum kicks off two days of discussion in Dubai

Update Arab Women Forum kicks off two days of discussion in Dubai
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Updated 18 May 2022

Arab Women Forum kicks off two days of discussion in Dubai

Arab Women Forum kicks off two days of discussion in Dubai

DUBAI: War reporting as a female journalist, how to tackle fraud, and the potential of women in the Middle East and North Africa were all part of the discussions on the opening morning of the Arab Women Forum, held in Dubai.

The two-day event is set to see speakers from a range of industries, with Saudi Ambassador to the United States Princess Reema bint Bandar delivering remarks by video at the beginning of the first sessions. 

Others addressing the forum include Arab News’ Assistant Editor-in-Chief Noor Nugali, Skynews reporter Arizh Mukhammed, and the Tinder Swindler’s Cecilie Fjellhøy and Pernilla Sjoholm.

“Reporting about the war is an extraordinary, unpredictable event”




Sky News' Arizh Mukhammed speaking to Arab News (AN)

“I prefer not to categorize myself as a war reporter. I am prepared to report on politics and business wherever the story carries me,” Sky News' Arizh Mukhammed told Arab News in a fascinating interview on the sidelines of the event. “My advice to a young female reporter is to educate herself, always look at two sides of a story and assess if you are objective enough to report on a story.”

The half-Russian, half-Syrian speaks three languages and holds a doctorate in pharmacology but describes her current role as one of the most challenging and rewarding of her life.

GCC gets snappy

The Gulf Cooperation Council region is the most engaging in the world for Snapchat, according to Hussein Freijeh, Snapchat's general manager for the Middle East and North Africa.

While speaking at the forum he said: “This region for Snapchat is the most engaging globally, specifically in the GCC, overall Qatar, Qatar, UAE, and Saudi Arabia.” 

He added that a human touch blended with technology is necessary to eliminate the spread of fake news on online platforms. 

“Army of journalists needed”




Faisal Abbas, Arab News Editor-in-Chief, at the Arabian Women Forum in Dubai (AN)

Fake news was here before the advent of social media platforms, Faisal Abbas, Arab News Editor-in-Chief, said during his speech at the forum. 

According to Abbas, fake news or lying is part of human society, dating back to the early days of humanity with Adam and Eve — long before Twitter or Facebook. 

“I think it important to distinguish [a] very important fact: fake news was not invented with social media, we are suffering now due to speed and availability of the tools in everybody’s hands,” Abbas said.

“Profound and historic change for women in Saudi Arabia in the region”

 

 

Princess Reema bint Bandar, Saudi Arabia’s ambassador to the US, used her keynote speech to talk up the importance of not just opening doors for women to enter the workplace, but welcoming them in.

“We have millions of talented, motivated women eager to contribute, and they are the key to social, cultural and economic progress in the Kingdom and, frankly, in the Arab world and around the world, she said.

Storytellers From The War Front

Assistant Editor-in-Chief, Arab News Noor Nugali moderated the Storytellers From The War Front session at the Arab Women Forum, Dubai, featuring Skynews reporter Arizh Mukhammed and Alhadath Senior News Anchor Christiane Baissary.

Baissary told the forum that there is a common misconception that women are not suited for war coverage as people think women are emotional and sensitive compared to men, Baissary told the forum. 

“A soldier told me that women should not cover in the war zone. He was trying to convince me that I should not stay to cover the war, it's not the mentality in the Middle East but everywhere,” said Baissary. 

Baissary noted that things have changed now, and women are currently getting more chances to cover wars. 

During the session, Sky News reporter Arizh Mukhammed said that fear will be there in the minds of reporters as they cover from the war front.

“Your courage must have limits. When you are going to cover war, you have your fears, but they must be put under control,” said Mukhammed. 

She also added that women differ from men in war reporting as they create humanitarian journalistic materials. 

 

 


Madinah to have 12 electric charging stations to promote EVs

Madinah to have 12 electric charging stations to promote EVs
Updated 10 sec ago

Madinah to have 12 electric charging stations to promote EVs

Madinah to have 12 electric charging stations to promote EVs

RIYADH: The Madinah municipality has signed an agreement with Al-Sharif Holding Group to establish 12 electric charging stations in different parts of the city, the Saudi Press Agency reported.

It is part of the Kingdom’s efforts to achieve its zero-carbon goals.

The opening of these new electric charging stations is expected to increase the popularity of electric vehicles and will also support environmental sustainability programs. 

The agreement was signed between Fahd bin Muhammad Al-Balishi, mayor of the region and Ahmed Sindi, CEO of Sharif X Company for Electric Vehicle Charging Solutions. 

According to reports, these electric charging stations are expected to provide fast and medium charging devices, both AC and DC through power supply sockets with a power ranging from 22-200 kilowatts.

Recently, Kalyana Sivagnanam, group CEO of Petromin, during an exclusive interview with Arab News said that its electric charging station arm Electromin is planning to open new charging stations, in addition to the existing 100 to end Saudis’ reluctance to EVs. 


Commodities Update — Gold prices fall; Indonesia to raise palm oil export quota; Russia reduces grain export taxes

Commodities Update — Gold prices fall; Indonesia to raise palm oil export quota; Russia reduces grain export taxes
Updated 34 min 57 sec ago

Commodities Update — Gold prices fall; Indonesia to raise palm oil export quota; Russia reduces grain export taxes

Commodities Update — Gold prices fall; Indonesia to raise palm oil export quota; Russia reduces grain export taxes

RIYADH: Gold prices fell on Friday as a firm dollar and looming rate hikes soured appetite for the non-yielding asset, while India’s import tax hike on bullion also dampened its demand prospects.

Spot gold is currently priced at $1,811.43 per ounce, while US gold futures settled down at $1,801.50. 

Silver, Platinum fall

Spot silver is priced at $19.67 and has dropped about 6.5 percent this week, its biggest weekly fall since January 2022.

Spot platinum is priced at $892.73 per ounce, on course for its fourth consecutive weekly fall, while palladium is at $1,959.58, gaining about 4.5 percent this week.

Indonesia looks to raise palm oil export quota

Indonesia proposed raising palm oil export quotas on Friday and is considering increasing mandatory levels of biodiesel in fuel mixes to prop up prices for farmers when domestic palm oil inventories are high, a senior minister said on Saturday.

Palm oil inventories ballooned, and mills limited purchases of fresh fruit bunches from farmers after Jakarta stopped exports of crude palm oil and some other derivatives for three weeks to May 23 in a bid to contain soaring domestic cooking oil prices.

Indonesia replaced the ban with a domestic market obligation, requiring companies to supply a portion of their products to the domestic market through the government’s bulk cooking oil program and linked DMO volumes to companies’ export permits and quotas. 

DMO volumes as of the end of June were around 270,000 tons, the government said.

The government will now allow palm oil companies to export seven times the amount of their sales from currently five times, senior minister Luhut Pandjaitan said.

“I asked the Trade Ministry to increase the export multiplication factor to seven times starting July 1, with the main objective to increase farmer’s FFB prices significantly,” Luhut said in a statement.

Russia reduces grain export taxes to support exports

Sanctions-hit Russia has sharply reduced its grain export taxes after changing the formula it uses for calculating them to support shipments in the July-June marketing season, the agriculture ministry said on Friday.

Russian farmers are expected to harvest a massive wheat crop this summer, bringing a record exportable surplus in the 2022-2023 season. 

However, shipments are complicated by high export tax, a strong rouble and sanctions-inflated costs for freight and insurance.

The ministry said that the new base price for calculating the wheat export tax is set at 15,000 roubles ($283.68) per ton.

It was previously in US dollars at $200 a ton. The agriculture ministry used the base price and price indicators reported by traders to determine the level of tax weekly.

The wheat export tax is set at 4,600 roubles ($85.8) per ton from July 6-12 against $146.1 per ton from June 29 to July 5, the ministry said in a separate note.

President Vladimir Putin said this week that Russia is the world’s largest wheat exporter and aims to remain so. Despite disrupting the Black Sea supply chains, it continues to supply its traditional markets in the Middle East and Africa.

(With inputs from Reuters)


Careem acquires money transfer technology platform Denarii

Careem acquires money transfer technology platform Denarii
Updated 03 July 2022

Careem acquires money transfer technology platform Denarii

Careem acquires money transfer technology platform Denarii

RIYADH: Careem, the ride-hailing and e-commerce platform, has acquired Denarii, a Dubai-based money transfer platform, in its second acquisition this month.

While the company has not disclosed the value of the deal, this acquisition will allow Careem to integrate Denarii’s technologies and assets into its platform.

Some key members of the Denarii team will also join Careem as part of the acquisition, MAGNiTT reported. 

Careem will use Denarii’s technology for its Careem Pay feature, to connect customers and Captains with remittance services provided by licensed providers. 

“Denarii’s innovative API will accelerate our journey to offering simple and affordable international remittance services, adding to the wide variety of services already available through Careem Pay,” Mudassir Sheikha, CEO and co-founder of Careem said. 


JPMorgan warns oil may hit $380 a barrel if Russia begins retaliatory production cuts

JPMorgan warns oil may hit $380 a barrel if Russia begins retaliatory production cuts
Updated 03 July 2022

JPMorgan warns oil may hit $380 a barrel if Russia begins retaliatory production cuts

JPMorgan warns oil may hit $380 a barrel if Russia begins retaliatory production cuts

RIYADH: Amid ongoing geopolitical tensions and skyrocketing energy rates, global oil prices may hit $380 a barrel if the US and European curbs compel Russia to inflict retaliatory crude output cuts, Bloomberg reported citing analysts at JPMorgan Chase & Co.

It was after Russia’s invasion of Ukraine that the Western allies led by the US imposed several sanctions, and worked out a complicated mechanism to cap the price fetched by Russian oil.

According to JPMorgan analysts including Natasha Kaneva, currently Russia enjoys a strong financial position and it can afford to slash daily crude production by 5 million barrels.

The analysts noted that Russia’s crude production cuts could be disastrous for the world, as a cut of 3 million barrels will elevate London crude prices to $190. In the worst-case scenario, if the output is cut by 5 million barrels, the price could reach as high as $380 a barrel.

“The most obvious and likely risk with a price cap is that Russia might choose retaliate by reducing exports as a way to inflict pain on the West,” wrote the analysts.


SABB appoints new CEO to lead corporate and institutional banking

SABB appoints new CEO to lead corporate and institutional banking
Updated 03 July 2022

SABB appoints new CEO to lead corporate and institutional banking

SABB appoints new CEO to lead corporate and institutional banking

RIYADH: The Saudi British Bank has appointed Yasser Ali Al-Barrak as its new CEO for corporate and institutional banking from this month.

The appointment of Al-Barrak will take effect on July 1, the bank said in a press statement.

Al-Barrak joined SABB in 2012 and has held many leadership positions, most recently being the general manager of global corporate and institutional banking, the statement said.

“The appointment of Yasser is a testament to the success of career growth plans at SABB, which is a major player in managing our most valuable assets, our people,” said SABB Managing Director & CEO Tony Cripps.

Established in 1978, SABB is an associate of the HSBC Group and a Saudi joint-stock company. It was named Saudi’s best bank for 2022, the statement added.

The bank provides retail, corporate, investment, private, and treasury services and has a paid-up capital of SR20.5 billion ($5.46 billion).