India works with Saudi Arabia on creating investment bridge

India works with Saudi Arabia on creating investment bridge
Dr. Ausaf Sayeed, secretary in charge of the Gulf region at the Indian Ministry of External Affairs, meets Saudi Foreign Affairs Deputy Minister Waleed bin Abdul Karim Al-Khereiji in Riyadh on March 20, 2023.(Saudi MoFA)
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Updated 25 March 2023
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India works with Saudi Arabia on creating investment bridge

India works with Saudi Arabia on creating investment bridge
  • Opportunities are seen in energy, infrastructure, food security, infrastructure, AI and education
  • Investment flow between the two G20 countries is an important component of their relations

New Delhi : India is working with Saudi Arabia on creating an investment bridge to accelerate bilateral projects and facilitate investments, with the measure expected to catalyze greater economic interconnectedness. 

During his trip to Riyadh this week, Dr. Ausaf Sayeed, secretary in charge of the Gulf region at the Indian Ministry of External Affairs, held talks with Saudi officials, including Foreign Affairs Deputy Minister Waleed bin Abdul Karim Al-Khereiji, on the India-Saudi Arabia strategic partnerships, and International Partnerships Deputy Minister Mohammed Al-Hassnah, with whom he agreed on the initiative to bridge bilateral investment activity. 

“Cross-border investments have become a major tool for progress and development for nations. India and Saudi Arabia are in a unique position to benefit from mutual investments depending on our strengths,” Sayeed told Arab News on Friday. 

He said Saudi investments in India have consistently grown, presently reaching $3 billion, and Indian businesses have invested more than $2 billion in the Kingdom. 

Significant investment opportunities, he said, have lately emerged in areas such as renewable energy, petrochemicals, infrastructure, food security, healthcare, pharmaceuticals, education, defense, information technology, artificial intelligence and entertainment. 

“An institutional mechanism for facilitating investments on both sides will be of great help to them,” Sayeed said. 

This mechanism, or investment bridge, is also seen as a means to facilitate all the projects under the $100 billion initiatives discussed by the two countries — both members of the Group of 20 largest economies — during Saudi Crown Prince Mohammed bin Salman’s visit to India in February 2019. 

“The deliberation on forming an investment bridge is noteworthy…Given that both India and Saudi Arabia are G20 economies and have experienced fast growth, this is a welcome step and can catalyze greater economic interconnectedness,” said Muddassir Quamar, Middle East expert and fellow at the Institute of Defence Studies and Analyses in New Delhi told Arab News. 

“In addition to political, economic, security and cultural links, the two-way flow of investments is an important component of the bilateral relations.” 

Prof. Sujata Ashwarya of the Jamia Millia Islamia University in New Delhi said the initiative comes in a context of several other joint projects, which both sides are eager to advance for mutual benefit. 

“The investment bridge will provide the required impetus for Saudi investment in India,” she said. “It might even develop into an institutional mechanism for trade and commerce between the two nations.”


Saudi Arabia calls for reform of global cooperation frameworks ahead of Summit of the Future

Saudi Arabia calls for reform of global cooperation frameworks ahead of Summit of the Future
Updated 9 sec ago
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Saudi Arabia calls for reform of global cooperation frameworks ahead of Summit of the Future

Saudi Arabia calls for reform of global cooperation frameworks ahead of Summit of the Future
  • Foreign Minister Prince Faisal bin Farhan said the UN needs to be part of the process, in particular the Security Council which ‘must be expanded and more representative in nature’
  • The UN describes the September 2024 Summit of the Future as a once-in-a-generation opportunity to enhance global cooperation to tackle critical challenges

NEW YORK: Saudi Arabia on Thursday called on the international community to reform multilateral cooperation frameworks to better take into account the concerns and needs of all states, including developing countries.

“We need more-influential and more-effective multilateral mechanisms … and international development that will be supported as we work toward a world that is more just and more peaceful,” said Foreign Minister Prince Faisal bin Farhan.

He was speaking on the sidelines of the 78th UN General Assembly session in New York, at a ministerial meeting to prepare for the Summit of the Future in September 2024. The UN describes the upcoming summit as a once-in-a-generation opportunity to enhance global cooperation to tackle critical challenges, address gaps in global governance, reaffirm existing commitments, including to the UN’s charter and Sustainable Development Goals, and establish a multilateral system better positioned to positively affect people’s lives.

Prince Faisal said the summit aims to help overcome the challenges that undermine global hopes for a better future, and stressed the need to reaffirm shared principles and intensify consultations to agree a mutual vision that can “improve the world for our populations.”

UN bodies need to be included in the reforms process, he added, in particular the Security Council, which “must be expanded and more representative in nature,” and that implementation of the Sustainable Development Goals through international partnerships must be high on the list of topics for discussion at the event next year.

“The Global Sustainable Development Report for 2022 noted the significant progress made by the Kingdom because we have prioritized sustainable development as a priority for the Saudi Vision 2030,” the prince told the meeting.

“The Kingdom is working tirelessly, through its membership in international organizations and blocs, to revitalize the path of development in relations between countries, to support better understanding and better cooperation.”

He said constructive relationships that rely on dialogue to resolve differences, and cooperation in establishing security and stability, offer a path toward achieving comprehensive development.

“International cooperation frameworks must be facilitating and supportive of partnership and cooperation, resistant to the pressures of competition and polarization, and discouraging any calls that spread hatred between peoples, disrespect for religions, and fuel extremism and terrorism,” said Prince Faisal.

The summit will also take into account the comprehensive nature and specificity of human rights concepts, he added, while also addressing inherent rights such as the rights to development and food, preservation of the pivotal role of the family, and reject of contempt for or belittlement of religions.

Thursday’s meeting provided an opportunity for ministers to set out their visions and priorities for the Summit of the Future, and to outline their expectations for the action-oriented outcomes that can be achieved when the heads of state and government meet next year.

The summit aims to build on a two-day Sustainable Development Goals summit that took place on Monday, and breathe new life into the multilateral system so that it can deliver on the promises of the UN Charter and the organization’s 2030 agenda for a sustainable future.

“The Summit of the Future is a unique opportunity to help rebuild trust and bring outdated multilateral institutions and frameworks into line with today’s world, based on equity and solidarity,” said UN Secretary-General Antonio Guterres.

“But it is more than an opportunity; it is an essential means of reducing risks and creating a safer and more peaceful world.”

During the summit, UN member states are expected to adopt a Pact for the Future that covers five main issues: sustainable development and related financing; international peace and security; science, technology, innovation and digital cooperation; youth and future generations; and transforming global governance.


Saudi Snapchat designer creates special National Day filter lenses

Saudi Snapchat designer creates special National Day filter lenses
Updated 36 min 28 sec ago
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Saudi Snapchat designer creates special National Day filter lenses

Saudi Snapchat designer creates special National Day filter lenses
  • Maha Al-Dosary draws inspiration from objects, world news, daughters’ imagination to create immersive augmented reality experiences

RIYADH: To mark Saudi Arabia’s 93rd National Day, Maha Al-Dosary, a certified Snapchat Lens Developer and Ambassador, created special filter lenses meant to capture the essence of the occasion.

Al-Dosary, who is also a wife and mother, has been able to seamlessly balance her roles while nurturing her interests in Augmented Reality lens development on Snapchat.

“I designed a simple lens that embodies the national identity for the 93rd National Day where I animated several pictures using scripts provided by Lens Studio. The lens works when you click on the missile as it launches upward and then the picture becomes clear,” she explained.

Lens Studio, an AR development tool by Snap, is designed to empower artists and developers to craft immersive AR experiences for Snapchatters worldwide.

Al-Dosary’s work exemplifies the growing influence of AR technology, and she believes that it can enhance various aspects of daily life, including e-commerce.

As of 2022, the Ipsos Augmentality Shift Study commissioned by Snap Inc. found that the number one reason people use AR is not for fun but for shopping.

Snapchat filter lens created by Al-Dosary, a Saudi- certified Snapchat lens designer. (Supplied)

The fast-growing field of AR technology offers the opportunity to merge the physical and digital worlds while fostering connections with friends and colleagues.

Al-Dosary draws inspiration from various sources, including pictures, objects, world news, and even the imagination of her daughters, underscoring the versatile nature of AR design.

“My girls are always telling me how proud they are of me and the job I do. They truly enjoy using the filters I design and are my biggest supporters,” Al-Dosary said with pride.

In 2022, Al-Dosary clinched the top spot in the Tunisia AI Hackathon in the Snap Augmented Reality Challenge. This competition, which focused on using SnapML to address UNICEF’s Sustainable Development Goals, attracted participants from 27 Middle East and African nations.

Al-Dosary’s journey into the world of Snapchat lenses had a humble beginning, with self-learning and limited English proficiency.

However, her curiosity and determination led her to become a certified Snapchat ambassador, trainer, content creator, and a leader of the Snapchat Lenses community in Saudi Arabia.

Sharing her message of encouragement for aspiring Snap lens creators, she said: “Success is one of the most beautiful things a person can achieve, but it requires effort and perseverance. Set your goals and strive to achieve them. Take advantage of quiet times and make use of the free educational materials available on the Internet.”

Maha Al-Dosary, a Saudi certified Snapchat lens developer. (Supplied)

Snapchat is playing a pivotal role in transforming Saudi Arabia in alignment with Vision 2030. It not only showcases art, culture and entertainment but also fosters technological advancements in AR.

“We’ve been working on AR for nearly a decade. Snap has long had the ability to be ahead of the curve,” said Rayan Al-Zahab, AR developer relations lead at Snap MENA.

“We believe AR is the future of immersive customer experiences and are developing the technology to facilitate virtual try-ons, catalog browsing, showrooming, and much more.”

“Snapchat is committed to empowering Saudi youth by providing hands-on training in augmented reality and innovation through local events and Saudi AR experts,” Al-Zahab added.

As Snap continues to lead the way in AR innovation, it is evident that the future holds exciting possibilities for both creators and users of this immersive technology.


Saudi FM, Somalia PM meet on UNGA sidelines

Saudi Foreign Minister Prince Faisal bin Farhan meets with Somalia’s Prime Minister Hamza Abdi Barre on Thursday in New York.
Saudi Foreign Minister Prince Faisal bin Farhan meets with Somalia’s Prime Minister Hamza Abdi Barre on Thursday in New York.
Updated 21 September 2023
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Saudi FM, Somalia PM meet on UNGA sidelines

Saudi Foreign Minister Prince Faisal bin Farhan meets with Somalia’s Prime Minister Hamza Abdi Barre on Thursday in New York.
  • Officials discussed bilateral relations and ways to strengthen and develop them in various fields of cooperation

RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan met with Somalia’s Prime Minister Hamza Abdi Barre on Thursday in New York.

During a meeting on the sidelines of the United Nations General Assembly, the two officials discussed bilateral relations and ways to strengthen and develop them in various fields of cooperation.

They also discussed aspects of consolidating bilateral and multilateral work and reviewed important international developments.


Libraries Commission launches audio services tool

Libraries Commission launches audio services tool
Updated 21 September 2023
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Libraries Commission launches audio services tool

Libraries Commission launches audio services tool
  • The device allows library and park visitors to benefit from the audio services provided in an accessible and easy way
  • The launch of the device is a continuation of the second phase launched by the commission this year in Al-Ahsa

RIYADH: CEO of the Saudi Libraries Commission Abdulrahman Al-Asem has launched a device created from the audio library booths “Masmou” project at the King Fahd National Library Park in Riyadh.
The device allows library and park visitors to benefit from the audio services provided in an accessible and easy way.
The launch of the device is a continuation of the second phase launched by the commission this year in Al-Ahsa, to be followed by many devices in Riyadh, Jeddah and the Eastern Province. It is also one of the strategic initiatives of the commission aiming to provide library services in gathering places.
Through “Masmou,” the commission seeks to introduce audio content and facilitate access to knowledge for different community groups in all regions of the Kingdom by providing audiobooks in distinctive locations, as well as reviving cultural heritage in an innovative way.
The idea of the audio library booths project was inspired by the telephone booths of the Ministry of Telegraph, Post, and Telephone in the 1980s and the 1990s, as they were commonly available and easy to use.
The “Masmou” booths allow users to listen to audio content via mobile phone, by browsing content according to duration, topic, most listened to, and other categories. Users can then choose the desired audio file, with the ability to listen to a short clip directly via the device or scan the QR code to listen to the entire audio file via mobile phone.
 


Manga Productions secures exclusive rights to distribute ‘Captain Tsubasa’ in MENA

Manga Productions secures exclusive rights to distribute ‘Captain Tsubasa’ in MENA
Updated 21 September 2023
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Manga Productions secures exclusive rights to distribute ‘Captain Tsubasa’ in MENA

Manga Productions secures exclusive rights to distribute ‘Captain Tsubasa’ in MENA
  • Partnership ‘in line with our vision to inspire and nurture the heroes of tomorrow,’ says CEO Essam Bukhary
  • “Captain Tsubasa,” once adapted into Arabic as “Captain Majid” and a fan favorite in Arab countries since the 1980s, is renowned for its thrilling soccer matches and moving stories

RIYADH: Saudi company Manga Productions has secured distribution and other rights for the Japanese sports anime series “Captain Tsubasa” in the MENA region.
In partnership with Tsubasa Corporation and Dentsu Inc., Manga Productions will manage the distribution, licensing and promotion of “Captain Tsubasa” season one and “Captain Tsubasa: Junior Youth Arc” season two.
Essam Bukhary, CEO of Manga Productions, said the anime series has inspired readers and viewers for over 40 years.
“Our collaboration is an affirmation of Manga Productions’ commitment to broadening its portfolio and working with leading creative content companies. This partnership is in line with our vision to inspire and nurture the heroes of tomorrow,” he said.
Abdulaziz Alnaghmoosh, director of marketing, distribution and business development at Manga Productions, said the company recognizes the “deep love and nostalgia” fans have for the series.
“Captain Tsubasa,” once adapted into Arabic as “Captain Majid” and a fan favorite in Arab countries since the 1980s, is renowned for its thrilling soccer matches and moving stories. The series is set to attract a new generation of viewers.
Alnaghmoosh said: “Our collaboration aims to reignite a passion for soccer in the hearts of both new and old fans. We are thrilled to be a part of this project and to bring this work to the MENA region.”
“Captain Tsubasa,” created by Yoichi Takahashi, has sold over 90 million copies worldwide in both print and digital formats since it was first published in 1981.
The series follows the protagonist Tsubasa Oozora and a host of players as they engage in intense battles on the field and grow as characters through their rivalries.