NEOM appoints founding president of its flagship university

Dr. Cangellaris will lead the development of NEOM U on its journey to become a pre-eminent knowledge institution that supports NEOM’s vision as an innovation hub. Supplied
Dr. Cangellaris will lead the development of NEOM U on its journey to become a pre-eminent knowledge institution that supports NEOM’s vision as an innovation hub. Supplied
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Updated 22 June 2022

NEOM appoints founding president of its flagship university

NEOM appoints founding president of its flagship university

RIYADH: NEOM on Wednesday announced the appointment of Dr. Andreas Cangellaris as the founding president of NEOM U – the megacity city’s first university. 

Dr. Cangellaris is joining NEOM from the University of Illinois Urbana-Champaign, where he is the M. E. Van Valkenburg Professor in electrical and computer engineering and has been serving as vice-chancellor for academic affairs and provost since 2018.

Dr. Cangellaris will lead the development of NEOM U on its journey to become a pre-eminent knowledge institution that supports NEOM’s vision as an innovation hub. It will be a university without boundaries, leveraging next-generation educational technologies with on-site and online learning. 

Commenting on the new appointment, Nadhmi Al-Nasr, CEO of NEOM, said: “Education is central to achieving NEOM’s vision and ambitious goals. I am delighted that we have attracted a person of the caliber of Dr. Cangellaris to lead one of the critical pillars of our education sector. 

“NEOM U is our first step toward developing a postsecondary education that is accessible to all, attracting the brightest students from all over Kingdom and the world. We want it to be a differentiator and a powerful signal of NEOM’s commitment to pioneering ideas in a world inspired by innovation.”

Initial academic and research programs will cover computer science, engineering and design, media, art and entertainment, as well as business. One common theme will be a CS+X undergraduate core curriculum rooted in the natural sciences, arts, humanities and social sciences.

I am delighted that we have attracted a person of the caliber of Dr. Cangellaris to lead one of the critical pillars of our education sector. 

Nadhmi Al-Nasr

Dr. Cangellaris has overseen the academic and research programs of a highly regarded US academic institution with over 50,000 students, 15 colleges and 150+ programs of study and in excess of $600 million in annual research expenditures. 

A distinguished scholar in the fields of computational electromagnetics and electronic design automation, he received his bachelor of science degree in electrical engineering from the University of Thessaloniki, Greece and his graduate degrees, a master of science and Ph.D., in electrical engineering from the University of California, Berkeley.

HIGHLIGHTS

Dr. Cangellaris received his bachelor of science degree in electrical engineering from the University of Thessaloniki, Greece.

He received his graduate degrees, a master of science and Ph.D., in electrical engineering from the University of California, Berkeley.

Dr. Cangellaris has overseen the academic and research programs of a highly regarded US academic institution with over 50,000 students, 15 colleges and 150+ programs of study.

Commenting on his appointment, Dr. Cangellaris said: “I am thrilled and honored to have been given the opportunity to be the founding president of NEOM U, to help build it and to lead it in its quest to inspire, catalyze, foster and enable the positive change NEOM aspires to bring to the world.” 

Dr. Jean-Lou Chameau, the chair of the International Steering Council that advises NEOM, said: “Dr. Cangellaris can drive NEOM U’s efforts to become a destination as a global university for the best scholars and students.”


Saudi industrial sector investments reach $361bn in April

Saudi industrial sector investments reach $361bn in April
Updated 14 sec ago

Saudi industrial sector investments reach $361bn in April

Saudi industrial sector investments reach $361bn in April

RIYADH: Saudi Arabia’s industrial sector investments reached SR1.35 trillion ($361 billion) in April 2022, according to the Ministry of Industry and Mineral Resources.

The number of valid licenses stood at 2,126, including 1,359 for building materials quarries, 559 for exploration, 164 for exploitation, 29 for reconnaissance and 15 for surplus ore, Argaam reported.

During January to April 2022, the ministry issued 302 mining licenses, including 26 for building materials quarries, 21 for exploration, one for reconnaissance and 13 for surplus ore.


Cybersecurity industry expected to hit $300bn by 2024, study shows

Cybersecurity industry expected to hit $300bn by 2024, study shows
Updated 5 min 53 sec ago

Cybersecurity industry expected to hit $300bn by 2024, study shows

Cybersecurity industry expected to hit $300bn by 2024, study shows

RIYADH: The cybersecurity industry is expected to grow by more than double to hit $300 billion by 2024, according to a study by Global Market Insights.  

By 2026, the cybersecurity market in the Middle East and Africa is expected to reach $2.89 billion and register a compound annual growth rate of 7.9 percent between 2021 and 2026. 

Saudi Arabia’s cybersecurity market is predicted to increase to over SR21 billion ($5.5 billion) by 2023, according to a statement. 

The Middle East is moving rapidly toward adopting transformative digital technologies to enable economic diversification.


Saudia makes 30% more seats available to meet rising summer demand

Saudia makes 30% more seats available to meet rising summer demand
Updated 8 min 13 sec ago

Saudia makes 30% more seats available to meet rising summer demand

Saudia makes 30% more seats available to meet rising summer demand

RIYADH: Saudi Arabian Airlines, known as Saudia, is planning to provide 6.5 million seats on 30,000 flights during July and August as it prepares to meet the growing demand of this year’s summer season. 

As of June 30th, the carrier will be offering 765,600 seats weekly — a 30 percent increase over last year’s summer, according to a statement. 

Saudia will operate 3,500 flights every week, linking the Kingdom with a regular flight network as it flies to four continents. 

The summer plan also includes measures to meet the necessary requirements such as maintenance, catering and ground services on time, it said.


India In-Focus — Shares rise; Minister says Indian economy to touch $30tln in next 30 years

India In-Focus — Shares rise; Minister says Indian economy to touch $30tln in next 30 years
Updated 11 min 5 sec ago

India In-Focus — Shares rise; Minister says Indian economy to touch $30tln in next 30 years

India In-Focus — Shares rise; Minister says Indian economy to touch $30tln in next 30 years

MUMBAI: Indian shares rose on Monday to their highest in more than two weeks, with technology and metal stocks leading the gains as easing oil prices tempered inflation fears.

The NSE Nifty 50 index rose 1.2 percent to 15,887.15, as of 0500 GMT, and the S&P BSE Sensex climbed 1.16 percent to 53,340.36, leaving it on track for a third straight session of gains.

Welspun Corp. jumped 4.8 percent after the steel products maker said it got orders worth 6 billion rupees ($76 million).

Gaming platform Nazara Technologies surged 7.1 percent to its highest in nearly seven weeks after it said it would buy a stake in sports media company Absolute Sports.

Indian economy to touch $30 trillion in next 30 years

Piyush Goyal, the Central Minister for Commerce and Industry said that the Indian economy will touch $30 trillion in the next 30 years. 

According to the minister, if India grows at 8 percent every year on a compounded annual growth basis, the economy will double in about nine years, Financial Express reported. 

The minister also predicted that the country’s economy will reach $6.5 trillion from $3.2 trillion today in the next nine years. 

“Eighteen years from now, we will be about $13 trillion economy. And then another nine years after that, that is 27 years from now, we will be a $26 trillion economy… Then obviously, 30 years from today, confidently we can all expect that the Indian economy will be a $30 trillion economy,” said the minister. 

(With inputs from Reuters)


GCC’s real estate sales soar 42% to hit $137bn

GCC’s real estate sales soar 42% to hit $137bn
Updated 15 min 18 sec ago

GCC’s real estate sales soar 42% to hit $137bn

GCC’s real estate sales soar 42% to hit $137bn

RIYADH: Real estate sales in the Gulf Cooperation Council countries surged 42 percent in 2021 to reach $137.4 billion, compared with $96.7 billion in 2019.

The overall growth was driven by Dubai’s real estate sector, where sales were up 86 percent, followed by Saudi Arabia, where purchases were up 25 percent, MEED reported.

The market is experiencing an oversupply of luxury and ultra-luxury properties. It is expected that the trend will continue to drive the development of more high-end real estate projects going forward.