Technology revolution to transform 70% of global business practices, minister says

Technology revolution to transform 70% of global business practices, minister says
Saudi Minister of Education Yousef bin Abdullah Al-Benyan.
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Updated 28 February 2024
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Technology revolution to transform 70% of global business practices, minister says

Technology revolution to transform 70% of global business practices, minister says

RIYADH: Global estimates suggest that technology adoptions and expansion are set to transform 70 percent of business practices globally, according to a top official.

Speaking during the opening of the Human Capability Initiative held in Riyadh, Saudi Education Minister Yousef bin Abdullah Al-Benyan highlighted that global estimates indicate a potential disruption of 40 percent of workers’ skills within the next four to five years due to these changes. 

“During the next two days, over 250 global leaders and experts will join us to share their knowledge and insight on how to unleash the potential for human capability and catalyze international corporations to maximize resilience in times of uncertainty,” Al-Benyan said. 

He added: “Technology adoptions and expansion are set to transform 70 percent of business practices globally. As economists continue to navigate this dynamic labor market landscape, it is more critical than ever to work inclusively to promote positive human capability outcomes.” 

Al-Benyan emphasized the importance of harnessing human potential in a world that is constantly changing. Additionally, he highlighted the need to address evolving labor market dynamics both locally and globally. 

“Today, we convene to navigate the currents of changes shaping both local and international labor markets. Human Capability Initiative is a part of the Kingdom Vision 2030 and supports the goal of advancing skills,” the minister said. 

He also noted that over the next two days, over 40 announcements will be made, reflecting the Kingdom’s commitment to working collaboratively with all partners. 

Additionally, Al-Benyan mentioned that Saudi Arabia’s Human Capability Development Program, which encompasses strategies covering all stages of learning, from early childhood to lifelong learning, aims to unleash individuals’ full potential.  

Furthermore, he emphasized collaboration between the government, private sector, and non-profit organizations to ensure success and prosperity for all. 

“To make these efforts a reality, Saudi Arabia will come working with all partners to explore opportunities and promote innovative policy design and solutions advancing human capability,” Al-Benyan continued. 

He added: “It is within this context that human capability initiatives emerge as a beacon of hope and progress — a global, collaborative platform dedicated to advancing the human capability agenda. HCI aims to empower individuals and foster resilient economics for the future.”  

Touted as the first-ever global cooperative platform designed to unify international efforts and enrich the global dialogue on the challenges and opportunities for developing human capabilities, HCI is being held under the patronage of Saudi Crown Prince Mohammed bin Salman. 

According to the HCI website, the event will explore opportunities in various areas including skill development, the future of work, education, talent, and technology. 


Zain KSA introduces first 100% Saudi-made fleet tracking solution for businesses 

Zain KSA introduces first 100% Saudi-made fleet tracking solution for businesses 
Updated 6 sec ago
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Zain KSA introduces first 100% Saudi-made fleet tracking solution for businesses 

Zain KSA introduces first 100% Saudi-made fleet tracking solution for businesses 

RIYADH: Saudi telecom provider Zain KSA has become the first operator in the Kingdom to offer a 100 percent domestically-made fleet tracking system for businesses.   

The new system is expected to empower businesses in Saudi Arabia to make informed decisions through comprehensive reports generated from precise data collection. 

The launch of the system, entirely made in the Kingdom for the business sector, integrates cutting-edge tracking devices that are locally designed, manufactured, and assembled under the country’s “Saudi Made” program, the company said in a statement. 

The telecom company further explained that the monitoring solution is a comprehensive cloud-based platform, providing businesses of all sizes with tools to optimize logistics operations, enhance travel routes, and minimize fuel consumption. This, in turn, reduces carbon emissions, preserves the environment, and fosters sustainability. 


Saudi Arabia and Spain strengthen collaboration in urban infrastructure and renewable energy sector

Saudi Arabia and Spain strengthen collaboration in urban infrastructure and renewable energy sector
Updated 16 min 33 sec ago
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Saudi Arabia and Spain strengthen collaboration in urban infrastructure and renewable energy sector

Saudi Arabia and Spain strengthen collaboration in urban infrastructure and renewable energy sector

RIYADH: Saudi-Spanish collaboration is set to flourish in the fields of urban infrastructure development, renewable energy, and engineering technology after a high-level meeting in Madrid. 

During a three-day visit from April 15-17, Saudi Arabia’s Minister of Municipal, Rural Affairs, and Housing, Majed Al-Hogail, met with executives from leading Spanish companies to explore collaboration opportunities. 

The tour is part of the Kingdom’s broader initiative to foster international partnerships that enhance its urban and infrastructure capabilities, the Saudi Press Agency reported.   

Al-Hogail’s engagements included a discussion with Pablo Bueno, CEO of TYPSA, focusing on potential collaboration in the fields of infrastructure solutions, energy efficiency, and sustainable urban development.   

They discussed activating a circular economy in buildings and infrastructure and creating new asset management platforms and engineering value solutions.  

Additionally, the minister met with José Vicente, CEO of Indra, one of the leading engineering technology and consulting firms, to discuss digital transformation in municipal services.   

This collaboration aims to enhance the quality of services provided to Saudi citizens and residents and foster innovation.  


New air route strengthening Saudi-China connectivity has inaugural flight

New air route strengthening Saudi-China connectivity has inaugural flight
Updated 17 April 2024
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New air route strengthening Saudi-China connectivity has inaugural flight

New air route strengthening Saudi-China connectivity has inaugural flight

RIYADH: With the inaugural flight of China Southern Airlines landing in Riyadh on April 16, Saudi Arabia and Beijing are further enhancing air connectivity.

The Chinese airplane arrived at the King Khalid International Airport at night, carrying approximately 247 passengers, achieving a load factor of 86 percent, according to Al-Ekhbariya Channel.

The Saudi General Authority of Civil Aviation previously announced the licensing of China Southern Airlines to conduct regular weekly passenger and freight flights from Beijing, Guangzhou, and Shenzhen to Riyadh during the summer season of 2024. 

This includes four passenger and commercial flights and three cargo flights commencing on April 16.


Turkiye will take steps to strengthen economic program, Erdogan says 

Turkiye will take steps to strengthen economic program, Erdogan says 
Updated 17 April 2024
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Turkiye will take steps to strengthen economic program, Erdogan says 

Turkiye will take steps to strengthen economic program, Erdogan says 

ANKARA: Turkiye will take steps to strengthen its medium-term economic program and the three main priorities are to increase public savings, prioritize investments and accelerate structural reforms, President Tayyip Erdogan said. 

Speaking on Tuesday evening after a cabinet meeting, Erdogan said his economic team had made preparations for such steps to strengthen the program, MTP, and, “hopefully we will share them with the public very soon.” 

“We have three main priorities in strengthening the MTP. These are to increase public sector savings, prioritize investments, and accelerate structural reforms.” 

Speaking to reporters after the cabinet meeting, Vice President Cevdet Yilmaz said both the finance ministry and the budget authority were carrying out studies on public sector savings, with more than 15 articles being worked upon. 

“We mean not only reducing expenditures, but making existing expenditures more efficient, prioritizing them, and making them contribute more to the economy’s competitiveness, efficiency and social welfare,” state broadcaster TRT reported him as saying. 

Erdogan also said on Tuesday evening that economic growth will approach 4 percent this year with a positive impact from exports, and forecast that the current account deficit will be 2.5 percent of gross domestic product at the end of the year. 

Official data on Wednesday showed that Turkiye’s current account deficit stood at $3.265 billion in February, less than a Reuters forecast for a deficit of $3.7 billion. 

Central Bank Governor Fatih Karahan told a panel in Washington on Tuesday that Turkiye is on track to reach its 36 percent inflation target by the end of the year after peaking at around 75 percent in the coming months. 


Saudi Arabia launches new program to boost wheat, barley productivity 

Saudi Arabia launches new program to boost wheat, barley productivity 
Updated 17 April 2024
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Saudi Arabia launches new program to boost wheat, barley productivity 

Saudi Arabia launches new program to boost wheat, barley productivity 

RIYADH: Saudi Arabia’s wheat and barley production is set to strengthen, thanks to a new program aimed at inventorying 903 plant genetic resources from fruit trees.

The process of PGR entails collecting and documenting the genetic material of plants valuable for both present and future generations. 

It is integral to agro-biodiversity, covering crops, livestock, and related species, and serves as the cornerstone of food, agriculture, and nutritional security.

Launched by the Kingdom’s Ministry of Environment, Water and Agriculture, the implementation of the new program is based on three axes, according to a statement.

The first includes inventory, purification, and evaluation of local varieties, while the second entails cooperation with international bodies. Meanwhile, the third axis includes implementing a regional breeding program.

This move falls in line with the ministry’s vision to achieve sustainability of the environment and natural resources, ensuring water security, contributing to food protection, and improving the quality of life in the Kingdom.