抖阴短视频

Ukraine keen to cooperate with KSA in digitalization push: vice minister

Ukraine keen to cooperate with KSA in digitalization push: vice minister
Oleksandr Bornyakov, Ukraine鈥檚 vice minister of digital transformation, further noted that 抖阴短视频鈥檚 business-friendly environment for foreign investments is one of the main reasons behind his current tour of the Kingdom. (SPA)
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Updated 12 May 2024

Ukraine keen to cooperate with KSA in digitalization push: vice minister

Ukraine keen to cooperate with KSA in digitalization push: vice minister
  • European nation鈥檚 growing prowess in technology could help 抖阴短视频 in its digital transformation journey

RIYADH:聽抖阴短视频鈥檚 technological landscape is set to get a boost as Ukraine has expressed its eagerness to cooperate with the Kingdom in multiple sectors including agri-tech, fintech, and cybersecurity.聽

Speaking to Arab News during his visit to the Saudi capital, Oleksandr Bornyakov, Ukraine鈥檚 vice minister of digital transformation, said the European nation鈥檚 growing prowess in technology could help 抖阴短视频 in its digital transformation journey.聽

During his visit to the Kingdom, the vice minister held meetings with the officials of the Kingdom鈥檚 information and investment ministries and the General Authority of Small and Medium Enterprises also known as Monsha鈥檃t.

鈥淢y visit is kind of like exploring 鈥 breaking the ice. Since we are the policymaking body in Ukraine, we know everybody in Ukraine from the tech sector. We want to hear from the local government
about what kind of problems they face, and what kind of things they need, and then, decide what鈥檚 the best fit for fulfilling those. I think there鈥檚 an interest in bringing this expertise to 抖阴短视频,鈥 said the vice minister.聽

He added: 鈥淔rom an educational perspective we build a framework of how we teach people from school to university. So they become very talented engineers. We have expertise in almost every sector like healthcare, automotive, energy, and finance. And when countries like 抖阴短视频, trying to digitize any of these fields, I think we could be helpful.鈥澛

He said that his visit to Riyadh seeks to establish a relationship on the government level, which will in turn help them to cooperate with private sector entities including startups in the future.聽

During his visit to the Kingdom, the Ukrainian vice minister also presented several digital products to Saudi officials that can be used on the government-to-government level.聽

The world is changing fast, and I can鈥檛 imagine my life without many digital things that I have become used to. So I think any country that wants to follow up on this and, be on the edge of the technology has to change and invest a lot in this.

Oleksandr Bornyakov, Ukraine鈥檚 vice minister of digital transformation

He said that 抖阴短视频 is quickly developing, and there is enormous potential for technological firms in the Kingdom.聽

Bornyakov added that 抖阴短视频 should build an entrepreneurship culture in the Kingdom so that local talents in the country can leapfrog in the technological sector with innovations and products.聽

鈥淭he world is changing fast, and I can鈥檛 imagine my life without many digital things that I have become used to. So I think any country that wants to follow up on this and, be on the edge of the technology has to change and invest a lot in this. Because, in the West, many great things happen. Even Google, it came from students,鈥 the official said.聽

He added: 鈥淚 think, Gulf countries and 抖阴短视频 in particular also want to have this, this entrepreneurship culture. And, we know how to teach people how to do that, and, be part of this. I think that鈥檚 why we have this mutual interest. And I feel that 抖阴短视频 is open to that experience.鈥 Bornyakov further noted that 抖阴短视频鈥檚 business-friendly environment for foreign investments is one of the main reasons behind his current tour of the Kingdom.聽

鈥淗ere, there is an investment environment. You can easily come to create a business in one or two days, then open a bank account, and then you are good to go. So this is one of the reasons that we decided to do this tour and, figure out who鈥檚 doing what,鈥 he added.聽

The vice minister also lauded 抖阴短视频鈥檚 efforts to diversify its economy away from oil aligned with the goals outlined in Vision 2030.聽

鈥淚 think diversifying is a good idea. It鈥檚 actually what鈥檚 happening in Ukraine. When I started in 2019, the contribution of the IT sector to the gross domestic product was 2.5-2.6 percent, and now it is close to 5 percent. As of today, 41 percent of all Ukrainian export services are IT.聽

鈥淚 think it is also something interesting here. The energy sector might be strong, for how many years, we do not know,鈥 he said.聽

According to Bornyakov, Ukraine is also steadily reducing its dependence on grains and heavy machinery, and technological products from the IT sector are becoming major contributors to the nation鈥檚 economy.聽

鈥淗istorically, Ukraine was what? Grain and heavy machinery. Unfortunately, due to war, we lost a lot of factories and heavy machinery. And because we thought about IT, even though, less than a decade ago, but still, the sector was evolving very fast. We now have a source of export revenue, which is almost $8 billion every year, and just maybe five years ago, it was $3 billion or $4 billion,鈥 he added.聽

HIGHLIGHT

Oleksandr Bornyakov鈥檚 visit to Riyadh seeks to establish a relationship on the government level, which will in turn help them to cooperate with private sector entities including startups in the future.

Bornyakov also talked about the success of Ukraine鈥檚 Diaa application which allows Ukrainians to use digital documents on their smartphones instead of physical ones for identification and sharing purposes, along with accessing over 130 government services. 聽

According to the vice minister, there are 20 million active Diaa users in Ukraine, and he claimed that no other government app in the world can boast about such a huge user database.聽 He also added that such applications have huge potential in the Gulf Cooperation Council region, which will reduce the hassles of paper passports and other government documents, as it allows people to carry everything on a smartphone.聽

鈥淲e want to implement the vision of President Zelensky to build a country in smartphone. Then we created a government super app called Diaa. We started by putting all the papers of a citizen like driver鈥檚 license, car titles, insurance, diplomas, birth certificates, tax IDs, and passport, everything on the phone, so you don鈥檛 carry paper. So, we were the first country in the world to introduce digital passports,鈥 said Bornyakov.聽

He added: 鈥淭here is a huge demand for such apps since Gulf countries have a union, GCC. And if you travel, and if you want to identify yourself, you will have to use different passports and different procedures. We have a solution to solve all of these problems.鈥澛

According to the vice minister, Ukraine has opened a source code for these applications, which makes countries use these codes to develop applications as per their requirements.聽

鈥淩ecently, we have opened source code, so you don鈥檛 have to pay us. So you can take this and we can showcase and you can use the source code to build, something that you own as this union (GCC), and use it for the sake of its people. And that is one of the things we are happy to share with the world,鈥 he added.聽


Fortune Global Forum to be held in Riyadh in 2025

Fortune Global Forum to be held in Riyadh in 2025
Updated 15 November 2024

Fortune Global Forum to be held in Riyadh in 2025

Fortune Global Forum to be held in Riyadh in 2025

RIYADH: The Saudi capital will welcome world business elites next year as the Fortune Global Forum makes its first appearance in Riyadh.

The forum, which is organized by Fortune magazine, brings together top business leaders from across the globe on the dynamic frontiers of global enterprise.

Fahd bin Abdulmohsan Al-Rasheed, the chairman of the Saudi Convention and Exhibitions General Authority, said the forum has in the past 30 years brought together 鈥渢he titans of industry around the world to the forefront of economic development.鈥

鈥淎nd that forefront today is the Kingdom of 抖阴短视频,鈥 Al-Rasheed told the forum in New York, where delegates have been taking part in the three-day gathering, which concluded on Tuesday.

He urged delegates to come to the Kingdom鈥檚 business epicenter to engage and explore what 抖阴短视频 has to offer.


抖阴短视频 launches company to transform Asir into global tourism hub

抖阴短视频 launches company to transform Asir into global tourism hub
Updated 14 November 2024

抖阴短视频 launches company to transform Asir into global tourism hub

抖阴短视频 launches company to transform Asir into global tourism hub

RIYADH: 抖阴短视频鈥檚 Asir region has launched a new tourism venture through a partnership with the aim of creating a holding company to transform the area into a global tourist destination.

The collaboration between Aseer Investment Co., a subsidiary of the Public Investment Fund, and Rikaz Real Estate, aligns with the goal of transforming Asir into a world-class tourist destination that combines authentic heritage with sustainable development, according to the Saudi Press Agency.

The holding company seeks to contribute to enhancing a tourism environment that enriches guests鈥 experiences with unique offerings, connecting visitors to local culture and community traditions, SPA reported.

It is also committed to promoting sustainable tourism by protecting the environment, developing local communities, and collaborating with artisans and local businesses to preserve the authenticity of Asir鈥檚 heritage.

In October, the Kingdom鈥檚 Abha city secured a new investment partnership to boost tourism by developing culturally rich dining and retail experiences. 

PIF firm Aseer Investment Co. signed the deal with Nimr Real Estate and the National Co. for Tourism, or Syahya, to propel the project, the Saudi Press Agency reported. 

This aligns with the objectives of developing Abha, which will offer a range of benefits, including retail stores that reflect the cultural heritage of the Asir region.

The partnership also seeks to be a model for multiple collaborations with private sector investors and create more regional job opportunities.

Investments in the region are expected to create between 14,000 and 18,000 job prospects and contribute to up to 6 percent of the non-oil gross domestic product within 10 years, as outlined by AIC Chief Executive Osama Al-Othman in February.

抖阴短视频 emerged as a leader in tourism growth among G20 nations, experiencing a 73 percent increase in international visitors in the first seven months of 2024 compared to 2019.

According to the UN World Tourism Barometer report in September, the Kingdom welcomed 17.5 million international tourists during this timeframe, showcasing its growing allure as a global travel destination.

This surge is part of the nation鈥檚 Vision 2030 initiative, which aims to diversify the economy and reduce dependence on oil revenues.

鈥湺兑醵淌悠 cements its global leadership and takes the first spot among G20 countries in international tourist arrivals growth, with a 73 percent increase in the first seven months of 2024 compared to the same period in 2019,鈥 stated the Saudi Tourism Ministry on X.

Under the National Tourism Strategy, the Kingdom aims to attract 150 million visitors by 2030 and increase the sector鈥檚 contribution to the nation鈥檚 gross domestic product from 6 percent to 10 percent.

These goals reflect the country鈥檚 commitment to strengthening its tourism sector and enhancing its global appeal.


IMF, 抖阴短视频 announce new annual conference tackling global economic challenges

IMF, 抖阴短视频 announce new annual conference tackling global economic challenges
Updated 14 November 2024

IMF, 抖阴短视频 announce new annual conference tackling global economic challenges

IMF, 抖阴短视频 announce new annual conference tackling global economic challenges

RIYADH: The International Monetary Fund and 抖阴短视频 will jointly organize a high-level annual conference in AlUla to discuss global economic challenges, it has been announced.

The AlUla Conference for Emerging Market Economies will bring together a select group of finance ministers, central bank governors, and policymakers, along with leaders from the public and private sectors, representatives from international institutions, and members of academia.

According to a joint statement by Kristalina Georgieva, managing director of IMF and the Minister of Finance Mohammed Al-Jadaan, the first edition of this series will be held from Feb. 16-17, 2025.

鈥淭he world is confronting deeper and more frequent shocks, including from conflicts, geoeconomic fragmentation, pandemics, climate change, food insecurity, and the digital divide,鈥 according to the statement.

They continued: 鈥淚f not addressed adequately, these shocks put at risk emerging market economies鈥 hard-won improvements in living standards. Such setbacks would affect large segments of the world population and put at risk global growth and macro-financial stability.鈥

The gathering will offer a platform to exchange views on domestic, regional, and global economic developments and discuss policies and reforms to spur inclusive prosperity and build resilience supported by international cooperation.

Recent economic issues affecting the global landscape include rising inflation rates, driven by supply chain disruptions and increased demand for goods post-pandemic.

Supply chain delays continue to impact the availability of essential products, causing bottlenecks in manufacturing and increasing costs.

Additionally, geopolitical conflicts, such as the war in Gaza, have disrupted energy supplies and food exports, leading to global food insecurity and fuel price volatility.

Concerns over the using the Red Sea shipping lane increased dramatically at the end of 2023, when Houthi militants stepped up attacks on vessels in the wake of the escalation of the Israel-Hamas conflict.

The effects of these challenges pose significant risks to economic stability, especially for emerging markets that are more vulnerable to such global shocks.

The AlUla conference is the latest example of the growing relationship between 抖阴短视频 and the IMF, with the organization in April establishing its first office in the Middle East and North Africa region in Riyadh.

The facility was launched during the Joint Regional Conference on Industrial Policy for Diversification, jointly organized by the IMF and the Ministry of Finance, on April 24.

The new office aims to strengthen capacity building, regional surveillance, and outreach to foster stability, growth, and integration, thereby promoting partnerships in the Middle East and beyond, according to the Saudi Press Agency.

The work hub will promote closer collaboration between the IMF and regional institutions, governments, and other stakeholders, according to the SPA report.

The IMF also expressed its gratitude to the Kingdom for its financial contribution aimed at supporting capacity development in member countries, including fragile states.


Closing Bell: 抖阴短视频鈥檚 TASI ends in the red, trading volume hits $2.95bn

Closing Bell: 抖阴短视频鈥檚 TASI ends in the red, trading volume hits $2.95bn
Updated 14 November 2024

Closing Bell: 抖阴短视频鈥檚 TASI ends in the red, trading volume hits $2.95bn

Closing Bell: 抖阴短视频鈥檚 TASI ends in the red, trading volume hits $2.95bn

RIYADH: The Tadawul All Share Index concluded the last session of the week at 11,791.18 points, down by 139.27 points or 1.17 percent.

The MSCI Tadawul 30 Index also saw a decline, dropping 19.18 points to close at 1,481.36, reflecting a 1.28 percent loss. In contrast, the parallel market Nomu finished Thursday鈥檚 trading at 29,467.71 points, up 262.18 points or 0.90 percent.

TASI reported a trading volume of SR11.10 billion ($2.95 billion), with 51 stocks advancing and 182 declining. The top performer of the day was Saudi Cable Co., which saw its share price surge by 5.10 percent to SR92.70.

Other strong performers included Shatirah House Restaurant Co., which gained 3.75 percent to reach SR21, and Arabian Mills for Food Products Co., which rose by 3.08 percent to SR53.60. Naseej International Trading Co. and Saudi Real Estate Co. also posted notable gains.

The worst performer was Saudi Real Estate Co., which dropped 4.94 percent to close at SR10. Alkhaleej Training and Education Co. and Red Sea International Co. also suffered significant losses, with their share prices falling by 4.90 percent to SR29.10 and 4.84 percent to SR68.80, respectively. Astra Industrial Group and Al-Omran Industrial Trading Co. were also among the day鈥檚 largest decliners.

On the parallel market, Nomu, Alqemam for Computer Systems Co. was the top gainer, rising by 9.57 percent to SR103. Other gainers included Dar Almarkabah for Renting Cars Co., which climbed 9.10 percent to SR42.55, and Horizon Educational Co., which rose by 7.58 percent to SR79.50. Mulkia Investment Co. and Knowledge Tower Trading Co. also saw significant increases.

On the losing side of Nomu, WSM for Information Technology Co. recorded the largest drop, with its share price falling by 6.18 percent to SR44. Osool and Bakheet Investment Co. and Natural Gas Distribution Co. also experienced notable declines, with their shares dropping by 5.37 percent to SR37.85 and 5 percent to SR57, respectively.

 


Leaders stress urgent need for climate finance at COP29 ministerial dialogue

Leaders stress urgent need for climate finance at COP29 ministerial dialogue
Updated 14 November 2024

Leaders stress urgent need for climate finance at COP29 ministerial dialogue

Leaders stress urgent need for climate finance at COP29 ministerial dialogue

RIYADH: Global climate finance continues to fall short of expectations, as leaders gathered at the COP29 Ministerial Dialogue on Climate Finance to address ongoing challenges and map out next steps.

The meeting, held in Baku, Azerbaijan, underscored the urgent need for increased and more effective funding mechanisms. COP29 President Mukhtar Babayev emphasized that climate finance plays a central role in the broader negotiations.

鈥淭he urgency of the situation is evident,鈥 Babayev remarked, pointing to the severe impacts of climate change observed over the past year. 鈥淩ecently, we witnessed catastrophic flooding in Spain, and in the Pacific region, island communities are faced with the possibility of being wiped out entirely. We must act now; failure to do so will have grave human and economic costs.鈥

The president stressed the importance of fulfilling the $100 billion-per-year commitment made in Copenhagen and reiterated in Paris, urging leaders to reflect on lessons learned and consider the quality and allocation of financial resources.

Developing countries once again voiced the need for tangible action, with Fiji鈥檚 Deputy Prime Minister Biman Prasad highlighting the importance of aligning climate finance with the goals of the Paris Agreement.

鈥淭his is a 鈥榩ut your money where your mouth is鈥 moment,鈥 Prasad said. 鈥淭he 1.5掳C temperature goal and the Paris Agreement itself will not be deliverable from both an economic and scientific perspective if we do not invest right. The New Collective Quantified Goal is critical for aligning our priorities and addressing major inconsistencies,鈥 he added.

The EU reaffirmed its commitment to climate finance, noting that the $100 billion goal was first collectively met in 2022, with contributions reaching $115.9 billion.

鈥淭he EU and its member states contributed 鈧28.5 billion, or around $30 billion, in climate finance from public sources,鈥 a representative said. 鈥淎lmost half of the public funding came in the form of grants, with a significant portion provided on concessional terms. We need to make further efforts to facilitate the mobilization of private funding, as it remains a key source of climate finance,鈥 the representative added.

Simon Stiell, executive secretary of the UN Framework Convention on Climate Change, emphasized the critical juncture at which the global community now finds itself.

鈥淭he huge opportunities we have and the terrible risks we face are real,鈥 Stiell said. 鈥淚t鈥檚 time to take action to bridge gaps, solve problems, and come together to ensure climate finance and climate action benefit everyone.鈥

Sweden also announced a significant new contribution, with Ministerial representatives unveiling an $8 billion Swedish krona ($723.6 million) pledge to the second replenishment of the Green Climate Fund.

鈥淭his makes Sweden the largest per capita donor to the GCF among the larger donors,鈥 the Swedish representative noted.

As discussions progressed, leaders acknowledged the widening gap between current financial commitments and the funds required to meet the 1.5掳C target. There were calls for more robust mobilization of both public and private finance.

The COP29 president concluded: 鈥淒elivering the climate fairness that developing countries need is one of the main metrics of shared success. We can learn from past efforts to inform the road ahead, but significant determination and leadership from all parties are required to bridge these critical gaps.鈥