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5G is more than a radio access technology. It is a new architecture with far greater agility in all domains.
stc, Nokia join forces to raise security awareness in telecom industry
5G is more than a radio access technology. It is a new architecture with far greater agility in all domains. The capacity, latency, agility, reliability, and speeds offered by this technology makes it applicable to Communication Service Providers and all industry verticals. The future vision for 5G and IoT is not just about connecting individual devices; it is an enabling technology in the 4th Industrial revolution that will deliver societal change.5G will underpin several critical use cases, from industrial automation, through public safety service to support utilities or connected cars. The understanding of critical infrastructure has evolved in recent years to encompass government networks and data centers, the infrastructure used by providers of basic products and services such as...
June 18, 2021

stc, Nokia join forces to raise security awareness in telecom industry

Wa’ed launches nationwide road show to identify, fund next generation of transformative Saudi start-up entrepreneurs
RIYADH — Wa’ed, the entrepreneurship arm of Aramco, Wednesday launched a national search to find and fund a new generation of Saudi entrepreneurs at a series of high-profile road show events to be held in six cities across the Kingdom.The Wa’ed Entrepreneurship Roadshow will run from September through December and make stops in Jubail and Yanbu, Riyadh, KAUST north of Jeddah, Makkah and Madinah. The events will combine elements of start-up “shark tank” pitch competitions with high-level expert discussions about the state of entrepreneurship in the Kingdom.The shows are designed to identify and finance a new generation of Saudi entrepreneurs whose game-changing ideas have the potential to open economic horizons in the Kingdom, supporting digitalization of industry and creating new...
June 16, 2021

Wa’ed launches nationwide road show to identify, fund next generation of transformative Saudi start-up entrepreneurs

Donavan Ellis, Digital Asset Management Consultant, Serco Middle East copy
How asset management supports privatization across Saudi Arabia
By Donavan EllisDriven by Vision 2030, a wide range of government entities in Saudi Arabia are looking to privatize their organizations with the ultimate goal of diversifying revenue sources away from a reliance on oil. In a move that will further stabilize the Kingdom for future generations, privatization will enable the country to continue to grow exponentially through income generation from new sources.Mapping the privatization road ahead Privatization is no small task; it demands a broad range of activities to be completed in order to ensure that operations of these entities are profitable, making them attractive to foreign investors and driving growth.Like any transaction, the entity looking to privatize and find foreign investment must in the first instance be an attractive...
June 16, 2021

How asset management supports privatization across Saudi Arabia

Speakers at the two-day Telangana Investment Meet  June 14-15.
Ease of doing business stressed in Telangana Investment Meet
RIYADH/JEDDAH — A two-day Telangana Investment Meet, organized by Embassy of India, Riyadh, and Consulate General of India, Jeddah, in partnership with Saudi Centre for International Strategic Partnership (SCISP) and government of State of Telangana was held on June 14-15.Held on virtual platform, Minister of IT, Industries, Municipal Administration and Urban Development, government of Telangana, K.T Rama Rao stressed on the ease of doing business parameters in Telangana which has led to the establishment of many multinational companies in Telangana.Indian Ambassador Dr. Ausaf Sayeed stressed on the strategic partnership agreement signed by India and Saudi Arabia during the visit of Prime Minister of India, Shri. Narendra Modi in 2019. This agreement has given a further impetus to the...
June 16, 2021

Ease of doing business stressed in Telangana Investment Meet

ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants in 13 high-growth markets, announced Monday that it has successfully raised SR2.8 billion, through a senior, unsecured floating Sukuk rate issuance with a 7-year tenor.
ACWA Power’s maiden 7-year Sukuk issuance achieves lowest pricing amidst 1.8x oversubscription
RIYADH — ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants in 13 high-growth markets, announced Monday that it has successfully raised SR2.8 billion, through a senior, unsecured floating Sukuk rate issuance with a 7-year tenor, under the Shariah-compliant Mudaraba-Murabaha structure.The issuance marks the company’s maiden entry into Saudi debt capital markets and saw significant interest from fund managers, government funds and insurance companies accounting for approximately 30% of the issuance and resulting in an oversubscription of 1.8 times over the issue size.Initial price guidance had been pegged at 100-125 basis points per annum (bps pa) + 6 month SAIBOR. The oversubscription enabled ACWA Power to tighten pricing by 25...
June 16, 2021

ACWA Power’s maiden 7-year Sukuk issuance achieves lowest pricing amidst 1.8x oversubscription

GE's Grid Solutions Yanbu 4
GE wins deal to build turnkey substation for first desalination plant using clean energy in KSA
RIYADH — GE Renewable Energy’s Grid Solutions has won a deal from Doosan Heavy Industries and Construction Co. Ltd., to build a turnkey substation that will power the Yanbu-4 independent water producer (IWP) plant.This is the first integrated, seawater reverse osmosis project in the Kingdom that uses clean energy. Scheduled to be operational in 2023, Yanbu-4 will have a capacity of 450,000 cubic meters per day of fresh water to be supplied to households in Makkah and Madinah.Located 140 km west of Madinah, near the town of Ar Rayyis on the Red Sea coast of the Kingdom, Yanbu-4 will utilize reverse osmosis technology to supply potable water. The plant will include solar energy units generating 20 MW of power to reduce grid electricity consumption throughout the desalination process, as...
June 16, 2021

GE wins deal to build turnkey substation for first desalination plant using clean energy in KSA

Dr. Lars Littig, managing director & partner BCG
Saudi Arabia ranks second globally for digital government services
RIYADH — Driven by a comprehensive digital transformation road map and COVID-19 response strategy, the government of the Kingdom of Saudi Arabia (KSA) has attained its latest digitization accomplishment, ranking second globally for the provision of digital services and subsequent adoption according to Boston Consulting Group’s (BCG) new study released recently, titled ‘Digital Government in the GCC: Accelerating Citizen Trust’. This research is also inspired by BCG and Salesforce’s research to understand what customers expect from governments, titled ‘The Trust Imperative’.As part of their respective efforts to remain at the forefront of emerging technologies’ adoption, governments across the GCC have prioritized increased digital services quality and expansion in recent...
June 16, 2021

Saudi Arabia ranks second globally for digital government services

Ismail Alani
KPMG: Pandemic led governments to focus on people-centric policies
RIYADH — Modernizing Government, KPMG’s latest report on global trends in public administrations, presents insights from a study into evolving modus operandi in governments of eight major economies including Saudi Arabia. Aside from assessing the handling of service delivery, supply chain and back operations, the study also envisions the pandemic as an opportunity, a springboard for advancements in remote working, agile policymaking and rapid service design.The KPMG report examines the new trend of a modernized government, which is customer-centric, agile, digitally enabled and inspired for future change. KPMG believes that reliance on robust business cases, costly and time-consuming planning, and extensive programmer “big builds” are now poised to give way to a new model, which is...
June 16, 2021

KPMG: Pandemic led governments to focus on people-centric policies

An aerial view of SPARK
SPARK signs MoC with Riyad Bank to discuss future initiatives
DHAHRAN — King Salman Energy Park (SPARK) and Riyad Bank Monday signed a agreement of Cooperation (MoC) on studying future initiatives, including SPARK Projects Initiative and SPARK Business Initiative. The MoC was signed by Eng. Saif Al Qahtani, president and CEO of SPARK, and Mr. Tareq Al Sadhan, CEO of Riyad Bank.The MoC includes exploring several initiatives and valuable services, such as SPARK Projects, SPARK Pay, SPARK Sustainability and Efficiency, SPARK Scientists, SPARK Business and SPARK Business Enablers, SPARK Local Content, SPARK Think, SPARK Quality of Life, and SPARK Pass.Riyad Bank is one of the major supporters of the Saudi Vision 2030 and its programs, especially through its role in developing and innovating many diverse initiatives specifically designed to support the...
June 16, 2021

SPARK signs MoC with Riyad Bank to discuss future initiatives

Chester Wisniewski, principal research scientist, Sophos
Rise in cyberattacks during COVID-19 boosted security skills in 85% of IT teams in KSA: Survey
RIYADH — Sophos, a global leader in next-generation cybersecurity, recently announced the findings of its global survey, “The IT Security Team: 2021 and Beyond,” which shows how increased security challenges during the pandemic offered IT teams a unique opportunity to build their cybersecurity expertise.The vast majority of IT teams in Saudi Arabia that faced a rise in cyberattacks (85%) and a heavier security workload (91%) over the course of 2020 strengthened their security skills and knowledge. Despite the challenges created by the pandemic, 52% of the IT teams surveyed globally, said team morale increased during 2020.The increase in cyberattacks during the pandemic impacted IT security skills across all industry sectors covered in the survey, including, at a global level,...
June 16, 2021

Rise in cyberattacks during COVID-19 boosted security skills in 85% of IT teams in KSA: Survey

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