Trend Micro and Alibaba Cloud launch service to boost cybersecurity effectiveness and risk mitigation

Trend Micro and Alibaba Cloud launch service to boost cybersecurity effectiveness and risk mitigation
The partnership was announced at the second edition of the Black Hat Middle East and Africa conference.
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Updated 14 November 2023
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Trend Micro and Alibaba Cloud launch service to boost cybersecurity effectiveness and risk mitigation

Trend Micro and Alibaba Cloud launch service to boost cybersecurity effectiveness and risk mitigation

RIYADH: Cybersecurity effectiveness in Saudi Arabia is set to be enhanced thanks to an initiative launched by Trend Micro and Alibaba Cloud.

Announced at the Black Hat Middle East and Africa conference in Riyadh, the Vision One security operations center-as-a-service development will empower customers to take charge of their cybersecurity ecosystem.

It includes 24-hour basis alert monitoring and prioritization, incident investigation, and threat hunting to customers as a managed service.

Speaking on the sidelines of the conference, Moataz BinAli, regional vice president and managing director for Trend Micro, said: “The solution provides the customers with solution software, basically, the service and now even the operation from Trend Micro to be able to deal with their cybersecurity issues across the entire organizations directly from the number one cybersecurity vendor in the markets.

He added: “Also, the solution is hosted on top of SCCC Alibaba cloud, the number one local hyperscale cloud in Saudi Arabia. Thus guaranteeing our customers from end to end complete peace of mind and local cybersecurity protection.”

Talal Al-Bakr, CEO of SCCC Alibaba Cloud added: “One of the most important aspects of what we're launching right now is not only providing solutions and services but also providing you an outlook of how things are going to change. We believe Saudi (Arabia) is the epicenter of change within technology, and this is just an additional sentiment to that change.”

BinAli also highlighted the key challenges being faced by chief information security officers across the globe, starting with the rising complexity of cyber threats.

He also expressed concerns about the emergence of advanced technologies, such as artificial intelligence.

Other issues included increasing alert fatigue and data overload as a result of organizations having many cybersecurity solutions, with BinAli saying it has become “very difficult for analysts to be able to decide whether these are true positives or false positives.”

Another concern centered on issues caused when numerous cybersecurity tools are utilized by an organization, but they are not sufficiently integrated or adequate training is not given to employees.

Organized by Tahaluf in collaboration with the Saudi Federation for Cybersecurity, Programming, and Drones, Black Hat MEA is expected to surpass its inaugural size by 41 percent, as indicated by a 119 percent increase in early visitor registrations. 

The event, held from  Nov. 14 to 16, is a cornerstone for industry growth, themed under “Infosec on the Edge.”  

Featuring over 350 exhibitors from 120 countries, it is showcasing interactive workshops, training programs, and a high-level executive summit. More than 50 startups are set to participate, with over 150 briefing sessions, 40 arsenal sessions, and 40 executive summit sessions on the agenda. 

Black Hat MEA aims to position itself as the largest cybersecurity event in the region and a global leader in terms of attendance.  

The agenda covers crucial areas of the cybersecurity sector, including artificial intelligence, compliance, risk management, and the evolving role of women in cybersecurity.


Closing Bell: Saudi main index closes in green at 12,069

Closing Bell: Saudi main index closes in green at 12,069
Updated 13 October 2024
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Closing Bell: Saudi main index closes in green at 12,069

Closing Bell: Saudi main index closes in green at 12,069
  • MSCI Tadawul Index increased by 6.27 points, or 0.42%, to close at 1,510.67
  • Parallel market Nomu surged, gaining 600.43 points, or 2.45%, to close at 25,123.38

RIYADH: Saudi Arabia’s Tadawul All Share Index surged on Sunday, gaining 74.99 points, or 0.63 percent, to close at 12,069.21. 

The total trading turnover of the benchmark index was SR5.69 billion ($1.51 billion), as 189 of the listed stocks advanced, while 35 retreated.  

The MSCI Tadawul Index increased by 6.27 points, or 0.42 percent, to close at 1,510.67. 

The Kingdom’s parallel market Nomu surged, gaining 600.43 points, or 2.45 percent, to close at 25,123.38. This comes as 48 of the listed stocks advanced, while 20 retreated. 

The best-performing stock of the day was Fawaz Abdulaziz Alhokair Co., with its share price surging by 9.98 percent to SR13.44. 

Other top performers included Development Works Food Co., which saw its share price rise by 9.86 percent to SR140.40, and Batic Investments and Logistics Co., which saw a 9.38 percent increase to SR4.08. 

The worst performer of the day was Al-Baha Investment and Development Co., whose share price fell by 9.52 percent to SR0.38. 

Al Majed Oud Co. and Anaam International Holding Group also saw declines, with their shares dropping by 5.95 percent and 2.16 percent to SR158 and SR1.36, respectively. 

Saudi Advanced Industries Co. has announced its estimated financial results for the period ending on Sept. 30. ​​SAIC’s shares advanced in today’s trading session, surging by 4.95 to reach SR37.10.

According to a Tadawul statement, the firm recorded a net profit of SR285.53 million in the first nine months of the year, reflecting a 156.84 percent surge compared to the same period in 2023. 

The rise in net profit for the current period, compared to the same period last year, is driven by higher revenue, despite increases in general and administrative expenses, financing costs, and zakat expenses. 

The Saudi Exchange has also announced the issuance of its resolution approving Shatirah House Restaurant Co. request to transfer from Nomu to the main market, with a capital of SR35 million and 35 million shares.  

The company’s shares will continue to be traded in the parallel market until the end of the period for publishing the transfer document, accordingly, the issuer must publish the transfer document within three trading sessions following the announcement of Saudi Exchange’s approval of the transfer request. 

The transfer document will be available to the public for viewing on the websites of the issuer, Saudi Exchange and the financial adviser for a period of ten trading sessions.

Accordingly, the trading of the issuer’s shares will cease starting from the day following the end of the period for publishing the transfer document for a period not exceeding five trading sessions, and the transfer procedures will begin. 

Saudi Exchange will also announce the cease of trading the shares and the start date of listing the issuer’s shares in the main market as soon as the procedures are completed. 

Tamkeen Human Resources Co., one of Saudi Arabia’s premier providers of innovative human resources solutions, has announced the price range for its initial public and the commencement of the institutional book-building period for participating parties. 

The price range for the offering has been set between SR46 and SR50 per share. The institutional book-building period commenced Oct. 13 and will end on Oct. 17. 

The offering will also consist of a secondary offering of 7.95 million offer shares, representing 30 percent of the company’s total issued share capital. 

It’s net proceeds will be distributed to the selling shareholders. The company will not receive any part of the proceeds from the offering. 

The final price at which all subscribers in the offering will purchase shares will be determined at the end of the book-building period.


Saudi Arabia aims for global logistics hub status by 2030 with tech Investments 

Saudi Arabia aims for global logistics hub status by 2030 with tech Investments 
Updated 47 min 29 sec ago
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Saudi Arabia aims for global logistics hub status by 2030 with tech Investments 

Saudi Arabia aims for global logistics hub status by 2030 with tech Investments 

RIYADH: The King Salman International Airport Development Co., a Saudi wealth sovereign fund-owned company, announced it had signed an agreement with ewpartners, a firm specializing in private investment, strategic alliances, and asset initiatives.

The partnership with the Public Investment Fund aims to leverage Saudi Arabia’s location as a link between three continents to drive growth and enhance operational excellence in the logistics sector, reported the Saudi Press Agency.

The parties will explore establishing an economic center for e-commerce and distribution, which is one of the hubs announced by the Ministry of Transport and Logistics Services.

This initiative aims to improve supply chains and facilitate investment and trade, thereby achieving the goals of the National Transport and Logistics Strategy and the objectives of Saudi Vision 2030.

The agreement strives to establish a logistics center at King Salman International Airport, designed to strengthen distribution management ties between China and Saudi Arabia.

This will play a significant role in positioning the Kingdom as a key regional hub for air freight, as per SPA.

The center is expected to enhance the efficiency and capabilities of distribution at the regional and international level, establishing the airport as a global logistics hub and reflecting the strategic role of Saudi Arabia in global services.

Marco Mejia, the acting CEO of KSIADC, commented that this partnership represents an important step toward realizing its vision of making KSIA a primary logistics center that serves regional and global companies and supports the country’s trade expansion.

He added: “Through our collaboration with ewpartners, we aim to enhance the Kingdom’s logistical infrastructure, increase operational efficiency, and create new opportunities that contribute to economic growth in the Kingdom and the region.”

Jerry Li, founder and managing partner of ewpartners, highlighted that the strategic location of the airport, along with its extensive regional commercial capabilities, will open new avenues for growth and innovation in the logistics and e-commerce sectors in the Kingdom.

The news agency underlined that partners would work to enhance various areas, including infrastructure, digital services, advanced manufacturing, and logistics.


Green practices in logistics offer profit, efficiency amid disruptions, says Al-Jubeir

 Green practices in logistics offer profit, efficiency amid disruptions, says Al-Jubeir
Updated 13 October 2024
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Green practices in logistics offer profit, efficiency amid disruptions, says Al-Jubeir

 Green practices in logistics offer profit, efficiency amid disruptions, says Al-Jubeir

RIYADH: Saudi Arabia’s commitment to developing an environmentally friendly logistics sector was highlighted by Minister of State for Foreign Affairs and Climate Envoy Adel Al-Jubeir during a fireside chat at the Global Logistics Forum in Riyadh.

Al-Jubeir outlined the substantial advantages of adopting green practices in logistics, stating, “Being green is profitable. Being environmentally friendly can be extremely lucrative. There’s often confusion stemming from the emotional discussions surrounding climate change; people conflate these emotions with reality. The reality is that investing in renewable energy is highly profitable.”

He also pointed out the efficiency of alternative energy sources, noting, “Ships powered by hydrogen and other alternative fuels are more efficient.” He acknowledged the growing pressure on countries to embrace sustainable practices but reassured that the shift toward environmental responsibility is beneficial because “it pays.”

According to a report by McKinsey & Co., the global green logistics industry is projected to grow significantly from $50 billion in 2025—about 2 percent of total logistics spending—to $350 billion by 2030, representing 15 percent of the broader sector.

A report from SAP, a German multinational software company, further supports this trend, indicating that green logistics enhances long-term profitability. “While initial investments are necessary to realize the benefits of green logistics, the long-term gains far exceed the costs,” the report stated.

Al-Jubeir concluded by underscoring the importance of efficiency in the logistics sector, emphasizing its critical role in achieving success in a competitive global marketplace.

“Efficiency is critical. The saying goes, ‘the future belongs to the efficient,’” stated Al-Jubeir, emphasizing that a company's ability to produce, package, transport, and market goods efficiently directly influences its sales performance.

He underscored the importance of optimizing every aspect of the logistics process, from the efficiency of ships and ports to the speed of loading and unloading containers and delivering goods to consumers. “Companies will become more efficient because that drives profit,” he added, linking operational efficiency to both commercial success and environmental sustainability.

Al-Jubeir also highlighted a global trend toward increased integration. While acknowledging potential conflicts at the micro level between specific countries or sectors, he stressed that the overarching historical trajectory is one of growing interconnectedness. “The world is more connected today than it ever has been, and it will continue to be as we move forward,” he asserted.

Despite the turbulence accompanying major transitions, such as the current shift from the information age to a post-information era, he expressed confidence in humanity’s capacity to adapt and solve problems. He pointed out that, throughout history, societies have consistently managed to progress despite disagreements and challenges.

Moreover, Al-Jubeir emphasized the importance of embracing diversity and cooperation in a multicultural world. He argued that shared universal values should foster mutual respect rather than the imposition of values on others.

In discussions surrounding trade and multilateral issues, he noted that disagreements often arise from a focus on competition rather than collaboration. “We need to focus on the problem and find solutions,” he said, expressing optimism that with the right technology, capital, and collective effort, the global community is well-equipped to tackle its challenges.

In another panel titled “The Resilience of Logistics Services in the Face of Disruption in the Red Sea,” top officials addressed the impacts of instability in one of the world’s most crucial maritime routes.

Rumaih Al-Rumaih, vice minister of transport and logistic services, underscored the importance of resilience in global trade routes, especially in light of recent disruptions in the Red Sea.

“The Red Sea is one of the main arteries for global trade,” Al-Rumaih explained, noting that disruptions in this vital route can have significant local, regional, and global repercussions. He highlighted the rise in maritime freight costs and the extended travel times as vessels are forced to reroute around the Cape of Good Hope, which can add up to 15 days to their journeys.

Reflecting on lessons learned from the COVID-19 pandemic, Al-Rumaih stated: “We should not take things for granted,” emphasizing that the Kingdom is now better equipped to handle such disruptions. He also discussed Saudi Arabia’s initiatives to diversify its logistics and transport networks to reduce reliance on any single route.

He pointed to the increased utilization of Gulf ports during the Red Sea disruptions and emphasized the Kingdom’s robust road and rail connectivity, which has played a crucial role in mitigating the impact of these challenges.

Osama Rabiee, chairman and managing director of the Suez Canal Authority, echoed concerns regarding significant disruptions faced by the canal. He reported that delays in shipments and rerouted vessels have caused Suez Canal revenues to drop from $9.4 billion last year to $7.2 billion.

Rabiee also highlighted the environmental implications, noting that ships traveling longer routes burn more fuel, which contributes to higher emissions. Despite these challenges, he affirmed the ongoing safety and reliability of the Suez Canal, stating, “The Suez Canal remains the safest and shortest route for global maritime traffic.”

Bud Darr, executive vice president of Maritime Policy and Government Affairs at MSC Group, addressed the broader challenges facing the shipping industry due to regional instability. “I don’t think anyone could say we’re on a pathway towards de-escalation in the region,” Darr remarked, emphasizing that the safety of seafarers influenced MSC’s decision to reroute vessels.

He pointed out the environmental and operational costs associated with longer routes, including increased emissions and impacts on service reliability and capacity.

Darr stressed the importance of building resilience into the supply chain, revealing that MSC had invested in additional capacity even before the current disruptions, enabling the company to adapt more effectively. “It’s not about the bare minimum; it’s about being ready for the next Black Swan event,” he added.


Saudi Arabia to invest $267bn in logistics to become global hub by 2030: minister

Saudi Arabia to invest $267bn in logistics to become global hub by 2030: minister
Updated 13 October 2024
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Saudi Arabia to invest $267bn in logistics to become global hub by 2030: minister

Saudi Arabia to invest $267bn in logistics to become global hub by 2030: minister
  • Saudi Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser said that SR200 billion of the total amount has already been deployed
  • Al-Jasser said there is no better time to hold this forum as the global logistics industry stands at a critical juncture

RIYADH: Saudi Arabia is set to invest over SR1 trillion ($267 billion) in its logistics sector, underlining its ambition to become a global hub by 2030, according to a senior official. 

Speaking at the inaugural Global Logistics Forum 2024, which began on Oct. 13 in Riyadh, Saudi Minister of Transport and Logistics Services Saleh bin Nasser Al-Jasser said SR200 billion of the total amount has already been deployed.  

“These investments have translated into leapfrogs in the Saudi logistics sector, leading us to rise in global rankings, jumping 17 ranks in the Logistics Performance Index issued by the World Bank and 14 places in the Global Connectivity Index of the International Air Transport Association,” he said.  

The country’s transport and logistics plan, launched by Crown Prince Mohammed bin Salman, aims to strengthen Saudi Arabia’s position as a global logistics hub connecting three continents.  

This initiative, part of the broader Vision 2030 program, focuses on modernizing transportation systems, enhancing integration within the logistics network, and supporting the Kingdom’s overall development goals. 

In his speech, Al-Jasser said there is no better time to hold this forum as the global logistics industry stands at a critical juncture. 

“Current disruptions highlight the fundamental needs to ensure the safety and security of the supply chain and the seamless functioning of the backbone of global commerce, so economies thrive, goods get delivered, and people are connected,” he said. 

The minister noted how logistics have impacted his own life, from delivering his favorite cup of coffee to his home to transporting vaccines to remote, otherwise unreachable areas. 

Al-Jasser said that over the next two days, the forum will address the challenges facing the sector and shape a sustainable future that promotes prosperity for all. 

“Where could it be better to hold the global logistics forum than at the crossroads of Asia, Europe, and Africa, the heart of global connectivity, where more than 40 percent of the world’s gross domestic product is reached within six hours,” he said. 

Al-Jasser also highlighted Saudi Arabia’s historical significance as a trade hub, referencing ancient networks like the Incense Road, the Spice Road, and the sea route of the Silk Road.   

“These routes, which spanned continents, carried not only goods but also ideas and cultures that shaped civilizations. Now, once again, we are at the forefront of global trade through cutting-edge infrastructure, such as King Salman International Airport, state-of-the-art seaports, and a robust rail network,” Al-Jasser added.  

He also emphasized the Kingdom’s strides in sustainability through the Saudi Green Initiative. 

“Last year alone, using the Saudi rail network, we eliminated the equivalent of 1 million truck journeys from our roads, drastically reducing carbon emissions,” he said.  

Al-Jasser noted that advancements in technologies such as artificial intelligence, blockchain, and smart infrastructure are reforming the global supply chain, reducing costs, increasing speed, and protecting the environment.  

Major deals  

Following Al-Jasser’s speech, several agreements were signed, including a maritime connectivity cooperation agreement between the Kingdom’s Transport General Authority and the Egyptian Ministry of Transport.  

King Salman International Airport Development Co. and ewpartners, an independent investment firm, signed a memorandum of understanding for collaboration in the KSA-Sino Logistics Zone. Additionally, the Mediterranean Shipping Co. and King Abdullah Port inked a contract for a temperature-controlled warehouse at King Abdullah Port.  

Matarat Holding and the Ministry of Transport signed an agreement for 24 seats in the Custodian of the Two Holy Mosques Scholarship Program. ALTANFEETHI and the Ministry of Transport and Logistics Services signed a similar agreement for eight seats, while Saudi Arabia Railways secured 30 seats under the program.   

The Saudi Logistics Academy, along with the Ministry of Human Resources and Social Development, launched an initiative to train 7,800 individuals in transport and logistics services through 60 different training programs and diplomas. 

On the sidelines of the event, Agility, a global supply chain services provider, announced the final phase of its expansion at Agility Logistics Parks in Riyadh. 

The SR250 million project will add 100,000 sq. meters of Class A warehousing, bringing the total space to 551,368 sq. meters. The first phase is expected to open in the first quarter of 2025, creating nearly 300 Saudi jobs. 

Agility is also investing SR611 million to build a third logistics complex near Jeddah, according to a press release. 

Michel Saab, global CEO of Agility Logistics Parks, said the Riyadh expansion is more than just increasing capacity — it represents a significant contribution to Saudi Arabia’s logistics market and will attract global firms to grow in the Kingdom. 

“By building world-class warehousing, we are able to provide critical infrastructure that is helping to make the Kingdom a global and regional logistics hub,” he said. 

The Global Logistics Forum 2024, organized by the Ministry of Transport and Logistics Services and held under the patronage of King Salman, aims to redefine the global landscape of trade and supply chains.   

By bringing together ecosystem partners at the King Abdullah Financial District in Riyadh, this two-day forum seeks to enhance efficiency, resilience, sustainability, and profitability, ultimately fostering prosperity in an increasingly interconnected world. 

Amid challenges such as international tensions, economic instability, complex supply chains, and the growing impact of climate change, the logistics sector is at a pivotal moment.  

The forum aims to bolster international collaboration and drive growth in the logistics sector by showcasing the latest technologies and innovative solutions. 

This first edition of the Global Logistics Forum marks a pivotal event for the Ministry of Transport and Logistics Services as it seeks to revolutionize global trade and supply chains by enhancing efficiency and profitability.  


Saudi Arabia to appoint private operators to manage 4 airports soon, say Al-Falih

Saudi Arabia to appoint private operators to manage 4 airports soon, say Al-Falih
Updated 13 October 2024
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Saudi Arabia to appoint private operators to manage 4 airports soon, say Al-Falih

Saudi Arabia to appoint private operators to manage 4 airports soon, say Al-Falih

RIYADH: Saudi Arabia is strengthening the role of private entities in the logistics and transport sector through various initiatives, including a new investment law, according to a top minister.

At the Global Logistics Forum in Riyadh, Saudi Investment Minister Khalid Al-Falih announced that the government plans to appoint private operators to manage four airports in the Kingdom in the coming months.

Enhancing the operations of seaports and airports is vital for Saudi Arabia as it aims to establish itself as a strategic regional hub and logistics gateway spanning three continents. The National Logistics Strategy seeks to boost the sector’s contribution to the Kingdom’s gross domestic product from 6 percent to 10 percent by 2030.

“The government is moving away from direct business involvement. Empowering and enabling the private sector is essential,” Al-Falih stated. He highlighted that the Madinah airport, the Kingdom’s most efficient, is managed by a private operator under a long-term concession, while King Abdullah Port, built with no government capital expenditure, is also privately operated.

“In the coming months and years, you will see continued privatization, with four airports entering the market. This is just the beginning,” he added.

Al-Falih emphasized that Saudi Arabia’s entrepreneurial landscape is favorable, and the new investment law is attracting significant investments in logistics and transport. In August, the Kingdom approved an updated investment law aimed at enhancing foreign direct investment.

The law includes stronger protections for investors, ensuring adherence to the rule of law, fair treatment, property rights, robust intellectual property safeguards, and streamlined fund transfers.

Al-Falih emphasized the importance of establishing a regionalized supply chain within the Gulf Cooperation Council. He noted that countries like Saudi Arabia, with their strategic geographical position, have significant opportunities in the transport and logistics sector.

“What is essential for us in the region is the regionalization of global supply chains. While globalization has benefitted humanity and the global economy, it is evolving toward a multi-hub regional logistics and transport system,” Al-Falih stated.

He continued: “The Middle East is at the forefront of developing its logistics and transport sector. We sit at the intersection of north-south and east-west routes, and we are actively creating our own regional logistics hub. We’re not starting from scratch; I anticipate rapid progress.”

Al-Falih also underscored the need to expand shipping ports and lanes to alleviate pressure on existing facilities. “Currently, 30 ports handle 80 percent of maritime traffic, which is too much concentration. This will inevitably change,” he concluded.

The sustainability factor

Talking about sustainability, Al-Falih said that Saudi Arabia consider it as a golden opportunity to develop green energy sources like green hydrogen, and green ammonia to reduce emissions in the sector, which contributes 10 percent to the overall emissions happening globally. 

“It is not easy to switch to alternative fuels. But that we must do. From a climate standpoint, and given everybody’s commitment to net zero in the next few decades. The Kingdom, we see it as a huge opportunity. Many people assume we consider it a threat. We see these fuels of the future, whether it is green ammonia, blue ammonia, methanol into shipping as a huge opportunity for the Kingdom and countries in the region,” added Al-Falih. 

UAE Minister of Energy and Infrastructure Suhail Al-Mazrouei expressed concerns about the potential pollution from expanding shipping lines, emphasizing the need for alternative connectivity solutions.

“The challenges ahead are significant. We cannot simply expand shipping lines or increase the number of ships, as pollution will become a major issue. We need to explore other means of connectivity,” he stated.

In the same panel, Saeed bin Hamoud Al-Maawali, Oman’s minister of transport, communications, and information technology, highlighted the substantial opportunities in Oman’s renewable energy sector. “Oman is poised to benefit greatly from green initiatives. We have just announced our first LNG terminal for bunkering, and there are vast opportunities for producing green hydrogen due to our favorable natural conditions, including strong wind and solar resources, along with ample available land,” said Al-Maawali.

He further noted that Oman aims to play a pivotal role in the transport and logistics sector, acting as a trade facilitator between East Africa and India.

The vitality of technology

During the session, Al-Falih said that technology is going to play a crucial role in modernizing the transport and logistics sector. 

According to the investment minister, e-commerce platforms like Amazon, which uses logistics as a key part of their operations have become one of the biggest companies in the world by leveraging technology wisely. 

“The trend is digitalization, data processing and AI (artificial intelligence), and they are huge enablers. The other trend is e-commerce, and we have seen with technology, how disruptive that has been,” said Al-Falih. 

Al-Mazrouei also echoed similar views and said that technologies like blockchain are crucial to enhance operations in the transport and logistics sector. 

“The future is going to be in the blockchain technology; how can we speed up and how can we eliminate certain processes between the first buyer of a good and the end consumer,” said Al-Mazrouei. 

The UAE minister added that the logistics and transport industry should be modernized to meet future demands, and it demands huge capital. 

The future outlook

During the panel, Saudi Arabia Transport Minister Saleh Al-Jasser said that the Kingdom is steadily pursuing its goals outlined in Vision 2030, and is on a path to become a global logistics hub. 

“Despite the current challenges in the region, I never been as optimistic about the future of logistics in Saudi Arabia and the region,” said Al-Jasser.