Women’s growing role in defense sector to be highlighted at WDS

Women’s growing role in defense sector to be highlighted at WDS
The expansion of women’s roles in the military and their integration into the armed forces are deemed crucial steps towards achieving the goals stated in Vision 2030. (AN photos)
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Updated 08 February 2024
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Women’s growing role in defense sector to be highlighted at WDS

Women’s growing role in defense sector to be highlighted at WDS
  • One of its primary focus areas for discussion will be the revolutionary shift of the role of women within the industry

RIYADH: As Riyadh gears up to host the second edition of the World Defense Show, the question of women’s growing role in the sector is taking center stage.

The event promises to congregate local and global military industry players with Saudi Arabia’s key leadership, international delegations and prominent industry decision-makers, and of one of its primary focus areas for discussion will be the revolutionary shift of the role of women within the industry.
Globally, the defense sector remains largely a male-dominated industry. Last year, it was reported that women represented a mere 23 to 25 percent of the labor force of the top five US defense contractors.
While the imbalance is also present in the Middle East, a region that is traditionally more conservative when it pertains to gender roles, recent years have demonstrated a notable uptick in female participation.
Arab women are increasingly breaking stereotypes by taking on roles traditionally reserved for men in the defense sector, with many now serving as pilots, engineers, and peacekeepers, as well as joining special force units.

The decision to allow women into the Saudi military came as part of the Kingdom’s Vision 2030 agenda that seeks to reform almost every aspect of life and government, including supporting female inclusion in the workforce.
The expansion of women’s roles in the military and their integration into the armed forces are deemed crucial steps towards achieving the goals stated in Vision 2030.
In 2018, the Kingdom provided women with the opportunity to apply for a number of non-military security roles. Saudi women have also been a part of public security since 2019, in the General Directorate of Prisons, Criminal Evidence and Customs and the General Directorate of Narcotics.
The Saudi military chief of staff, Fayyad Al-Ruwaili, and the director general of the General Administration of Admission and Recruitment, Imad Al-Aidan, launched the first military section for women in the Saudi Arabian Armed Forces in January 2021.
This allowed women to join the military as lance corporals, corporals, sergeants, and staff sergeants in the Royal Saudi Land Forces as well as the Royal Saudi Air Defense force, the Royal Saudi Navy, Strategic Missile Forces and Armed Forces Medical Services. Women could also rise through the ranks to a number of officer positions and senior positions.
The establishment of the Armed Forces Women’s Cadre Training Centre in February 2022 and the subsequent graduation of hundreds of women was another crucial step in in preparing women for military roles.
The inaugural graduation ceremony for female recruits was in September, marking the first time in the Kingdom’s history that women will begin service in front-line roles.
The efforts towards progress also saw further initiatives promoting gender equality and diversity implemented within defense institutions.
Policies have been introduced to ensure equal opportunities for men and women in recruitment, training, and career progression. Arab countries have also been investing in mentorship programs and leadership development initiatives specifically tailored for women in the defense sector, fostering a supportive environment for their professional growth.

During the first World Defense Show in 2022, the International Women in Defense Program, which took place on International Women’s Day, was deemed a “resounding success” by its organizers.
Led by the Kingdom’s ambassador to the US, Princess Reema bint Bandar, the event addressed the challenges and celebrated achievements in the industry, though a series of expert panels and discussions.
The program returns for WDS 2024, with an expanded format and another impressive roll call of influential industry leaders, with Princess Reema once again at the helm.
The ambassador said: “This is a moment to celebrate the contributions and achievements of women around the world from our past and present. Women have been serving, fighting, and contributing to the security and prosperity of their nations for over 100 years.”
She added: “International Women in Defense is a global campaign, creating resilience in an ever-changing world, and helping us to navigate the challenges we face within the sector, sharing personal experiences and celebrating the contributions of women who continue to serve their country. In this event, we converge to support national, regional and international efforts to accelerate women’s participation in the defense sector on a global scale, forging alliances and sharing best practices which are fundamental to retain the pace of change.”
These acknowledgements of the advancements in the role of women in defense contribute greatly to changing global perceptions about the capabilities and contributions of women in traditionally male-dominated fields.

Globally, female CEOs in the aerospace and defense industry surpasses other industries in gender equality.
According to global organizational consulting firm Korn Ferry, women CEOs represent 19 percent of the leaders in aerospace and defense, compared to just 5 percent across all other sectors. Four of the five largest US aerospace and defense firms — Lockheed Martin, General Dynamics, Northrop Grumman and Boeing’s defense, space and security division — are all headed by women.
Within the region, there have also been notable achievements: Jana Sader became Lebanon’s first female fixed-wing pilot; Sheikha Aisha bint Rashid Al-Khalifa became Bahrain’s first female fighter pilot; and Saudi Arabia’s Rayannah Barnawi became the first Arab woman astronaut.
In Saudi Arabia, this signifies a broader societal shift in attitudes towards gender roles, reflecting a commitment to inclusivity, diversity, and the recognition of the valuable contributions women can make in defense and security.
By all accounts, the strides made in the Middle East, also contribute significantly to the global narrative of women increasingly playing pivotal roles in defense and security.


NMDC Energy soars 20% on debut after UAE’s largest IPO of 2024

NMDC Energy soars 20% on debut after UAE’s largest IPO of 2024
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NMDC Energy soars 20% on debut after UAE’s largest IPO of 2024

NMDC Energy soars 20% on debut after UAE’s largest IPO of 2024

RIYADH: The energy division of NMDC Group experienced a remarkable debut as its shares surged 20 percent after raising 3.22 billion dirhams ($877 million) in the UAE’s largest initial public offering of the year.

On the Abu Dhabi Securities Exchange, NMDC Energy’s shares, initially priced at 2.8 dirhams, opened at 3.35 dirhams, reflecting a significant 20 percent increase.

The company, which specializes in engineering, procurement, and construction services for both offshore and onshore clients, surpassed the previous largest IPO of the year, Alef Education Holding Plc’s $515 million offering.

The IPO for NMDC Energy involved the sale of 1.15 billion shares, which were 31.3 times oversubscribed, with total demand reaching 88 billion dirhams, according to a press release.

This strong debut underscores investor confidence in the company’s future and reinforces ADX as a pivotal platform for growth opportunities.

The successful IPO also aligns with ADX’s objective to expand market offerings and foster sustainable economic development in the UAE, according to the press release.

Abdulla Salem Al-Nuaimi, group CEO of ADX, said: “We are pleased to welcome NMDC Energy to ADX, furthering our vision of a dynamic and diversified capital market. With its expertise in the energy sector and innovative track record, NMDC Energy strengthens our market and offers investors access to the UAE’s sustainable growth.”  

He added: “The 88 billion dirhams demand for this listing reflects investor trust in ADX and underscores our role in portfolio diversification for our investors and issuer growth. As ADX’s sixth offering this year, it reinforces Abu Dhabi’s commitment to economic diversification, positioning the financial market as a key driver of sustainable development.” 

In the first half of 2024, UAE IPO proceeds reached $1.3 billion, a 67 percent drop from last year, with ADX contributing $515 million, or 14 percent, of the total Gulf Cooperation Council IPO funds. 

“Today marks a key milestone, not just for NMDC, but also for Abu Dhabi’s energy sector. Following a highly successful IPO, we are proud to list NMDC Energy on ADX and embark on an exciting new path forward,” said Ahmed Al-Dhaheri, CEO of NMDC Energy. 

Established in 1973, NMDC Energy — formerly National Petroleum Construction Co. — serves major clients like Abu Dhabi National Oil Co. and Saudi Arabian Oil Co. 


Closing Bell: Saudi benchmark index declines 1.84% amid mixed market movements

Closing Bell: Saudi benchmark index declines 1.84% amid mixed market movements
Updated 36 min 26 sec ago
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Closing Bell: Saudi benchmark index declines 1.84% amid mixed market movements

Closing Bell: Saudi benchmark index declines 1.84% amid mixed market movements

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Wednesday, shedding 220.2 points, or 1.84 percent, to close at 11,766.4.

The benchmark index saw a total trading turnover of SR6.15 billion ($1.66 billion), with 18 stocks advancing and 212 retreating.

In contrast, the Kingdom’s parallel market, Nomu, rose by 163.52 points, or 0.64 percent, ending the day at 25,764.1. In this market, 25 stocks advanced while 38 declined.

Additionally, the MSCI Tadawul Index fell by 28.96 points, or 1.94 percent, to close at 1,463.16.

The best-performing stock was Al-Baha Investment and Development Co., with its share price rising 5.56 percent to SR0.19.

Other notable performers included Middle East Specialized Cables Co., which saw a 5.24 percent increase in its share price, and Alistithmar AREIC Diversified REIT Fund, which rose by 5.12 percent.

On the downside, Saudi Fisheries Co. was the worst performer, with its share price falling by 10 percent to SR23.94.

ARTEX Industrial Investment Co. and Red Sea International Co. also saw their share prices slip by 5.13 percent and 5.12 percent, respectively, closing at SR16.6 and SR48.2.

On the parallel market, Leaf Global Environmental Services Co. stood out as the top performer, with its share price surging 18.82 percent to SR101.

Other notable gainers in the Nomu market included Qomel Co., which rose 8.2 percent, and Edarat Communication and Information Technology Co., which saw a 6.74 percent increase.

The worst performer on the parallel market was Meyar Co., with its share price dropping 4.47 percent to SR62. Fad International Co. and Alhasoob Co. also experienced declines of 4.37 percent and 3.97 percent, respectively.

SAMA Healthy Water Factory has announced its intention to launch an initial public offering on the parallel market, Nomu, offering 30 percent of its shares to the public.

Based in Saudi Arabia, SAMA Healthy Water Factory specializes in the production and distribution of bottled water. This IPO is a strategic step in the company’s broader plan to expand its footprint in Saudi Arabia’s burgeoning water and beverage sector, while also raising capital for future growth and operational initiatives.

The move is expected to boost SAMA’s visibility and open up new investment opportunities. It aligns with Vision 2030’s goals of fostering private sector growth, diversifying the economy, and creating new prospects for both local and international investors.

By listing on Nomu, SAMA Healthy Water Factory aims to solidify its market position and contribute to the Kingdom’s ambitious economic transformation.


Wizz Air launches cheap flights between London, Jeddah

Wizz Air launches cheap flights between London, Jeddah
Updated 11 September 2024
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Wizz Air launches cheap flights between London, Jeddah

Wizz Air launches cheap flights between London, Jeddah
  • Overnight route will run daily using new Airbus long-haul A321XLR planes
  • The route will launch in March, with tickets already on sale for £135

LONDON: People in the UK will be able to reach Saudi Arabia for significantly reduced prices after budget carrier Wizz Air launched new flights from London.

The seven-hour overnight route will run from March 2025, connecting Gatwick Airport to Jeddah on new Airbus A321XLR aircraft. The carrier will also run a route to Abu Dhabi from the Italian city of Milan from June.

Tickets to Jeddah have gone on sale at £135 ($176.5), with each flight to carry up to 239 passengers.

The airline said some flights will be cheaper at $116.99 and run daily all year round, adding that they will connect “two vibrant cities.”

At a press conference in Jeddah, Andras Rado, Wizz Air’s head of communications and government affairs, said: “The Airbus A321XLR is the most cost-efficient aircraft of its class and, given the enhanced range capability, it enables Wizz Air to connect the furthest destinations in its network and further expand it, connecting cultures and continents.

“We’re excited to unlock unbeatable fares for our customers on the newly announced route to London, while offering the most sustainable option for flying … This new aircraft type marks a new era of ultra-low-fare travel on long-haul routes.”

Wizz Air will become one of the first operators of the new Airbus model, alongside Aer Lingus and Iberia, and has ordered 47 of the planes.

It is the furthest ranged of Airbus’s A320 aircraft, with a range of 8,700 km, and emits 30 percent fewer carbon emissions than its Boeing 757 and 767 competitors.

Stewart Wingate, CEO of Gatwick Airport, said the new model should help open more long-haul routes for the travel hub.

Wizz Air hopes that the new route to Jeddah will undercut British Airways. In a press release, Wizz Air said it “remains committed to expanding its presence in Saudi Arabia and beyond.”

The airline added that it is “contributing to the country’s connectivity in line with Vision 2030 and following a partnership agreement with the Saudi Tourism Authority to increase connectivity to Europe and boost inbound visitors.”


Apple committed to user privacy, says director at Global AI Summit

Gary Davis, global senior director of privacy and regulatory matters. (GAIN)
Gary Davis, global senior director of privacy and regulatory matters. (GAIN)
Updated 11 September 2024
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Apple committed to user privacy, says director at Global AI Summit

Gary Davis, global senior director of privacy and regulatory matters. (GAIN)
  • Device owners at center of Apple policy, says Gary Davis
  • Firm supports Saudi Arabia’s personal data protection law

RIYADH: Apple remains committed to protecting the data and privacy of its users, according to a senior executive speaking at the third Global AI Summit in Riyadh on Wednesday.

Gary Davis, global senior director of privacy and regulatory matters, said: “Apple’s privacy commitments are built into our products and features by design because at Apple, we believe that privacy is a human right.”

“That’s why Apple has, for many years, supported the introduction of data privacy laws globally. And that is why we support the introduction of your personal data protection law here in Saudi Arabia.”

Davis said the company’s approach will remain the same even as it integrates artificial intelligence into its products.

“Apple's approach to emerging technologies, like AI, is no different,” he said. “As we deeply integrate Apple Intelligence into iOS, iPadOS and macOS, we will not veer from our whole commitment to user privacy.”

Davis said the use of AI must encompass respect for human values. “It’s not only a possibility, it’s a responsibility,” he said. “We’ve been guided by our belief that great artificial intelligence and great privacy standards are not mutually exclusive, but rather mutually reinforcing.”

He added that Apple operates from four basic principles: collecting as little data as possible; device owners have the rights to their data; users will have the final say in data collection; and there is no privacy without security.

“Time and again, we’ve introduced many exciting cutting-edge features that are built from the bottom up to protect user privacy,” he said, citing the firm’s browser, Safari, its cloud storage and Apple Intelligence as examples.

“Safari blocks third-party cookies by default and has undertaken many new innovations to continue to ensure that, as you use it, you remain completely in control of your data,” he said.

“Apple Intelligence is built from your experiences across your device. That includes your photos, your messages, your files, and calendar events. So that it can provide you, and only you, with information and assistance based on what matters to you.”

He said that even if some companies say they will not misuse people’s data, the users have no way of checking or verifying if this is true.

“Our basic principle is that no one, not even Apple, perhaps even especially Apple, should have visibility into your requests, even if your data is leaving your device and going to a cloud.

“To mitigate entire classes of privacy risk, we omitted persistent data storage, we replaced the tools normally used to manage servers, and we took steps to prevent privileged access.

“The result is an unprecedented cloud security foundation based on Apple Silicon. With Private Cloud Compute, user data is never available to Apple. It’s never stored,” he said.

This article originally appeared on Arab News Japan


Saudi Arabia increasingly attractive to investors: BlackRock official

Saudi Arabia increasingly attractive to investors: BlackRock official
Updated 11 September 2024
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Saudi Arabia increasingly attractive to investors: BlackRock official

Saudi Arabia increasingly attractive to investors: BlackRock official

JEDDAH: Saudi Arabia is drawing attention from local and international investors as the Kingdom continues to prosper, according to a top global asset management company official.

In an interview with Arab News, BlackRock’s Managing Director, Head of Middle East Client Business and CEO Saudi Arabia Yazeed Al-Mubarak, said that the global client base has shown a growing interest in gaining exposure to Middle Eastern assets. 

He also underlined that regional investors are increasingly seeking more appealing opportunities within the local market.

“As Vision 2030 and its accompanying capital investment comes to life, Saudi Arabia has become an increasingly attractive destination for local and international investment,” Al-Mubarak said.

In August, BlackRock signed a memorandum of understanding in New York with the Saudi Real Estate Refinance Co., fully owned by the Kingdom’s sovereign wealth fund. 

The signing occurred during an official visit to the US by Saudi Arabia’s Minister of Municipalities and Housing Majid Al-Hogail.

The deal seeks to develop the real estate finance sector in the Kingdom and increase the share of businesses in the industry’s capital markets.

The agreement was signed by SRC CEO Majid Al-Abduljabbar and Al-Mubarak in the presence of BlackRock President Robert Kapito.

Al-Mubarak said that SRC is leading the way in developing mortgage refinancing solutions for Saudi banks and housing finance companies, enabling global institutional investors to engage with this expanding and high-quality fixed-income asset class.

Commenting on his company’s memorandum with SRC, the CEO said the announcement is an agreement to develop a high-quality fixed-income asset class of mortgage-related securities.

Providing insight on how BlackRock foresees this partnership impacting the real estate finance market in the Kingdom, he said that the Saudi housing sector is experiencing rapid growth due to population expansion, urbanization, and proactive government initiatives.

“Central to this growth is the Housing Program under Vision 2030 that aims to increase homeownership to 70 percent by 2030,” he said.

He added: “The mortgage market has quadrupled in size over the last five years, exceeding $150 billion and expected to further grow to nearly $200 billion. Prior year’s momentum slowed in 2022-2023 due to house price appreciation, rising mortgage rates, and a significant reduction in historical subsidy programs.”

Al-Mubarak further said that to support this growth and bank lending, SRC is looking to issue securitizations locally and internationally to provide additional funding capacity and contribute to the development of the Saudi debt capital markets.

Larry Fink, chairman and CEO of BlackRock, with Yazeed Al-Humied, deputy governor and head of MENA investments at PIF, in April at the launch of BlackRock Riyadh Investment Management. PIF

Commenting on how this collaboration aligns with the Kingdom’s Vision 2030 and what role his firm sees itself playing in achieving these goals, the managing director pointed to BlackRock Riyadh Investment Management, or BRIM – launched in April with an initial investment mandate of up to $5 billion from PIF.

The company – dubbed the first-of-its-kind in the Kingdom by BlackRock’s CEO Larry Fink when it was announced –  will further develop Saudi Arabia’s asset management sector, including the housing capital markets, and provide a broad range of attractive backing strategies for Middle Eastern and global clients. 

“BRIM will encompass investment strategies across a range of asset classes for the Saudi market, including both public and private markets, managed by a Riyadh-based investment team,” Al-Mubarak told Arab News.

He added that the guarantee offering provided by the Saudi Mortgage Guarantee Services Co., or Damanat, fully owned by the Saudi Real Estate Development Fund, will now act as an enabler for BRIM’s mortgage-focused fixed income strategies.

Speaking of the long-term goals of this partnership, Al-Mubarak said that these include the development of the Kingdom’s mortgage securitization framework, as well as related investment strategies to enable investors to access this market.

Al-Mubarak discussed his company’s initial partnership with SRC and the Ministry of Municipalities and Housing, stating that while there are no firm plans at this stage, his company is enthusiastic about working with both entities on future projects.