Who’s Who: Bassam Abdulaziz Noor, CEO of SICO Capital in Saudi Arabia

Bassam Abdulaziz Noor
Bassam Abdulaziz Noor
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Updated 02 January 2024
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Who’s Who: Bassam Abdulaziz Noor, CEO of SICO Capital in Saudi Arabia

Bassam Abdulaziz Noor

Bassam Abdulaziz Noor was recently appointed chief executive officer of SICO Capital in Saudi Arabia.

SICO Capital is an investment banking firm with multiple licenses from the Saudi Capital Markets Authority, providing a wide range of financial services to individuals, institutions, and corporations.

Noor is a seasoned professional with over two decades of experience in investment and management regionally and globally.

Before his current role, Noor held the position of chief investment officer for alternative investments at Derayah Financial. His contributions to increasing assets under management for alternative investments demonstrated his strategic prowess and ability to drive financial success.

Prior to that, Noor played key roles in reputable institutions such as Al-Rajhi United, Arcapita Bank, and Gulf International Bank, showcasing his versatility and adaptability in various financial environments.

Noor holds a distinguished academic background, having earned a double bachelor’s degree with honors in finance and management information systems from the University of South Florida. Additionally, he is a chartered financial analyst charter holder, underscoring his commitment to excellence and professional expertise in the field.

Upon his new appointment, Noor said: “I am honored to join SICO Capital and become part of SICO, an established regional asset manager with a long and successful track record in several markets. I look forward to working with the board of directors and the team and am confident in our ability to achieve our growth plans and establish strong relations with our clients, I have complete trust in the company’s abilities and resources to leverage significant investment opportunities stemming from Saudi’s Vision 2030.”

 

 


Winners of Prince Sultan bin Abdulaziz International Prize for Water honored in Vienna

Winners of Prince Sultan bin Abdulaziz International Prize for Water honored in Vienna
Updated 27 min 16 sec ago
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Winners of Prince Sultan bin Abdulaziz International Prize for Water honored in Vienna

Winners of Prince Sultan bin Abdulaziz International Prize for Water honored in Vienna
  • Billions of people living without safe drinking water, UN secretary-general says
  • Previous winners have helped develop sustainable water resources, Saudi environment minster says

RIYADH: The Saudi environment minister called on scientists and researchers to work together to find practical solutions to global water challenges as he attended this year’s Prince Sultan bin Abdulaziz International Prize for Water at the UN offices in Vienna on Wednesday.
Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli congratulated the winners of the 11th cycle of the awards, which are held under the patronage of King Salman bin Abdulaziz, the Saudi Press Agency reported
Their work, he said, had contributed to the development and sustainability of water resources. He also praised the Kingdom’s leadership for supporting research and innovation in the sector.
“This confirms the importance of government institutions worldwide coordinating and organizing to transfer these innovations into practice,” he said.
Experts should work together to find practical solutions to the world’s water challenges, Al-Fadhli said.
“It has become important for water sectors in the world to embrace and enhance these researches and innovations and adopt the principle of integrated water resources management in a manner that suits the nature and geography of each country, taking into account economic, financial and environmental sustainability.”
He thanked the award’s board members and secretary-general for their efforts and said the Kingdom would continue to play its part in addressing water-related challenges at the local, regional and international levels.
The Kingdom’s Permanent Representative to the UN Dr. Abdullah bin Khalid Toula said: “In 2023, Crown Prince Mohammed bin Salman announced the establishment of a global water organization, which aims to enhance integration between countries and organizations to address the challenges of water availability in a comprehensive manner and make it a platform for exchanging best technical practices, supporting research, development and innovation and enabling priority quality projects and facilitating their financing, in an effort to ensure the sustainability of water resources and enhance safe access opportunities for all.”
UN Secretary-General Antonio Guterres said: “Water is life, yet billions of people live without safe drinking water, sanitation services or basic hygiene facilities and water scarcity is increasing and people and communities pay the price.”
Dr. Badran bin Abdulrahman Al-Omar, chairman of the award’s board, said: “The late Prince Sultan bin Abdulaziz Al-Saud anticipated the water crisis we face today, as a growing population suffers from increasing demand for food, water and hygiene under conditions exacerbated by uncertainty about climate change. He realized that scientific solutions were needed to alleviate this crisis.”
The Prince Sultan bin Abdulaziz International Prize for Water was a unique scientific award dedicated to advanced innovations, focused on tangible achievements in finding creative solutions to humanity’s water needs, he said.
The award’s secretary-general, Dr. Abdulmalik bin Abdulrahman Al-Sheikh, said the award had been created in response to the global water situation and that previous winners were working together to overcome the challenges of providing sufficient potable water for people all around the world.
The Kingdom’s ambassadors to Austria, Slovenia and Slovakia also attended the awards ceremony.
This year’s winners were from 14 institutions in six countries: China, the Czech Republic, Italy, Singapore, the UK and the US.
Dr. Qiuhua Liang from Loughborough University, UK, and his team won the Surface Water Award.
Dr. Chunmiao Zeng from the Eastern Institute of Technology, Ningbo, China, and his team won the Groundwater Award.
Dr. Virender K. Sharma from Texas A&M University, US, and his team members attained the Alternative Water Resources Award.
Dr. Joseph Hon Wei Lee from the Macau University of Science and Technology, China, and his teammates won the Water Resources Management and Protection Award.
Anyone who wishes to nominate their project for consideration for the 12th cycle of the awards should do so at psipw.org before the end of December 2025.


Saudi Arabia’s transport authority suspends 3 apps for violations

Saudi Arabia’s transport authority suspends 3 apps for violations
Updated 59 min 3 sec ago
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Saudi Arabia’s transport authority suspends 3 apps for violations

Saudi Arabia’s transport authority suspends 3 apps for violations
  • Three applications used within the online hail and ride and delivery services sectors lacked licenses from the relevant authorities and failed to follow regulations
  • TGA regulations require that each taxi driver wear an approved uniform to ensure the safety and security of the public

RIYADH: Saudi Arabia’s Transport General Authority suspended three digital applications on Wednesday for breaching transport regulations and failing to follow the country’s cyber and labor laws.

The three applications used within the online hail and ride and delivery services sectors lacked licenses from the relevant authorities and failed to follow regulations, the Saudi Press Agency reported on Wednesday.

The transport authority said that two of the suspended applications provided transportation services for passengers while the third was active in the delivery sector. It added that digital applications should obtain licenses to run on the country’s cyber network.

Digital applications should follow labor laws and hire national staff to work within passenger transportation services, the authority said, adding that each vehicle and driver must meet the legal requirements to operate on the road.

The Transport General Authority’s regulations require that each taxi driver wear an approved uniform to ensure the safety and security of the public.


Saudi crown prince, Russia’s Putin discuss Ukraine war during call

Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin. (File/SPA/AFP)
Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin. (File/SPA/AFP)
Updated 13 November 2024
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Saudi crown prince, Russia’s Putin discuss Ukraine war during call

Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin. (File/SPA/AFP)
  • Saudi-Russian relations and efforts made to intensify them were praised during the call

RIYADH: Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin discussed developments in the war in Ukraine during a phone call, Saudi Press Agency reported on Wednesday.

Saudi-Russian relations and efforts made to intensify them were praised during the call. Cooperation between the two countries in various fields was also discussed.

Prince Mohammed and Putin also discussed a number of issues and topics of common interest, SPA said. 


Saudi authorities seize 12 million amphetamine pills at Jeddah port

Saudi authorities seize 12 million amphetamine pills at Jeddah port
Updated 13 November 2024
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Saudi authorities seize 12 million amphetamine pills at Jeddah port

Saudi authorities seize 12 million amphetamine pills at Jeddah port
  • Kingdom’s General Directorate of Narcotics Control said that the 11.9 million pills were hidden inside a shipping container
  • Seizure was a joint security effort with the Zakat, Tax and Customs Authority as part of ongoing counter-narcotics operations

JEDDAH: Saudi Arabia’s counter-narcotics authorities have foiled an attempt to smuggle nearly 12 million amphetamine pills through the port in Jeddah.

The Kingdom’s General Directorate of Narcotics Control said on Wednesday that the 11.9 million pills were hidden inside a shipping container of building materials at Jeddah Islamic Port. The pills were concealed behind gypsum boards, SPA reported.

The seizure was a joint security effort with the Zakat, Tax and Customs Authority as part of ongoing counter-narcotics operations to crack down on criminal networks and smuggling activity to the Kingdom.

Authorities did not announce any arrests in connection with the case. Several attempts to smuggle large quantities of Captagon, a type of amphetamine, have been foiled at Jeddah port in recent years.

In March, authorities thwarted an attempt to smuggle nearly 2.5 million amphetamine pills through Jeddah and announced the arrest of several people in the case, who included a Syrian national, two other expatriates and two Saudi citizens.

Captagon is used by young men and teenage boys across the Middle East and has a lucrative street value of between $10 and $25 a pill, according to research by the International Addiction Review Journal.

In 2023, an investigation — “The Kingdom vs Captagon” — carried out by the Arab News Research and Studies Unit, revealed that the Syrian regime and the Iran-backed Hezbollah militia in Lebanon were the primary sources of the drugs being smuggled to Saudi Arabia and the Arab region.


Saudi Arabia adds 198 sites to National Antiquities Register

Saudi Arabia adds 198 sites to National Antiquities Register
Updated 13 November 2024
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Saudi Arabia adds 198 sites to National Antiquities Register

Saudi Arabia adds 198 sites to National Antiquities Register
  • Hail Region, Makkah, Qassim, Jouf account for majority of additions
  • Register now comprises 9,317 examples of nation’s cultural heritage

RIYADH: The Heritage Commission has added 198 new archaeological sites to the National Antiquities Register, taking the total across the Kingdom to 9,317.

The commission said the registrations were part of its broader efforts to document and revive Saudi Arabia’s cultural heritage, thus providing researchers and enthusiasts with reliable information on heritage locations and archaeological sites in the Kingdom, the Saudi Press Agency reported on Wednesday.

Hail region accounts for the bulk of the new additions, with 50, followed by Makkah (39), Qassim (34), Jouf (28), Madinah (14), Tabuk (13). The remainder are in Riyadh region (eight), Jazan (five), Asir, Najran and Northern Borders (two each) and the Eastern Province (one).

All of the registrations were carried out in line with the Law of Antiquities, Museums and Urban Heritage.

The commission said it sought to encourage archaeological studies and highlight the historical value of sites, thus raising the global profile of Saudi heritage. It also acknowledged the role of local communities in discovering sites, whose participation contributes significantly to protecting the nation’s cultural heritage and promoting greater awareness for future generations.

People are encouraged to report any new archaeological discoveries or illegal activities that might be detrimental to heritage sites via the commission’s social media accounts, the Balagh platform, by visiting any of its offices, or by calling the Unified Security Operations Center on 911.

Saudi Arabia has several archaeological sites that are recognized internationally, including Hegra in AlUla, which in 2008 became the first in the Kingdom to be named a UNESCO World Heritage Site.

At-Turaif District in Diriyah was added to the list in 2010, Historic Jeddah in 2014, Rock Art in the Hail region in 2015, Al-Ahsa Oasis in 2018 and the Hima Cultural Area in Jazan in 2021, among others.