MoU signed to revive cultural sites in Saudi Arabia
Updated 26 May 2024
Arab News
RIYADH: The Heritage Commission and ASFAR, Saudi Arabia’s tourism investment company fully owned by the Public Investment Fund, signed a memorandum of understanding to enhance visitor experience at cultural heritage sites in the Kingdom.
Heritage Commission CEO Jasser Al-Harbash and ASFAR CEO Fahad bin Mushayt attended the signing, the Saudi Press Agency reported on Sunday.
The agreement aims to improve operational efficiency, enhance cooperation, develop plans, refine designs, and establish operational models for heritage sites across Saudi Arabia.
The commission highlighted the importance of partnerships in its commitment to developing the national heritage and archaeology sector, aligning with the goals of Saudi Vision 2030.
ASFAR plays a crucial role in shaping the Kingdom’s tourism sector through investments in tourist destinations, historical and cultural sites, SPA said.
The company aims to raise the prominence of Saudi cities on the tourism map by collaborating with public and private sectors.
MoU signed to establish Saudi-Brazilian Coordination Council in Rio de Janeiro
Kingdom’s foreign minister visited Brazil to attend the G20 Summit that ended on Tuesday
Prince Faisal and Vieira reviewed relations between their countries and ways to develop them
Updated 19 November 2024
Arab News
RIYADH: A memorandum of understanding to establish the Saudi-Brazilian Coordination Council was signed by the foreign ministers of both countries in Rio de Janeiro on Tuesday, Saudi Press Agency reported.
The agreement was signed during a meeting between Brazilian Foreign Minister Mauro Vieira and Saudi Foreign Minister Prince Faisal bin Farhan.
It is a “continuation of what was agreed upon between the leaderships of the two countries during the visit of the President of Brazil Luiz Inacio Lula da Silva to the Kingdom on November 30, 2023,” SPA said.
The Kingdom’s foreign minister visited Brazil to attend the G20 Summit that ended on Tuesday.
Prince Faisal and Vieira reviewed relations between their countries and ways to develop them. They also discussed regional and international developments and efforts made in this regard.
Saudi entrepreneurs present expertise at Misk forum in Riyadh
Passion alone won’t build a business, says Prepline CEO Essa Behbehani
Updated 19 November 2024
Ghadi Joudah
RIYADH: “If you don’t channel your passion for executing a business, then you simply have a hobby,” Essa Behbehani said at the Misk Global Forum on Tuesday.
The CEO of Prepline, a food and beverage investment and development company, made the statement during the panel discussion “Dream, Do, Dare: The Entrepreneur’s Cookbook,” which discussed core business skills, provided guidance on overcoming common startup challenges, and offered essential advice on scaling enterprises through funding.
"In a business, the most important factors are the product, resistance, and community approval." (AN photo by Huda Bashatah)
“Passion is one of the main elements you need to build a business on, but it is not the main element,” Behbehani said.
He outlined the four key roles in business success, saying: “You are either an investor, manager, developer, or craftsman. Each one needs the other element to succeed.”
HIGHLIGHTS
• The eighth Misk Global Forum, designed to encourage dialogue and exchange of ideas, is showcasing Misk Foundation’s dedication to engaging young minds.
• On Tuesday, Essa Behbehani and Abdullah Al-Saleem discussed core business skills, provided guidance on overcoming common startup challenges, and offered essential advice on scaling enterprises through funding.
Reflecting on the evolution of business fundamentals over two decades, Behbehani noted a significant shift, and added: “Back then, (around) 2003 to 2004, the most important elements in a business were the product, resistance, and community approval.”
"In a business, the most important factors are the product, resistance, and community approval." (AN photo by Huda Bashatah)
Behbehani noted that at that time, entrepreneurs like himself lacked marketing knowledge and did not have modern tools like social media to promote their businesses.
However, today’s business landscape demands different priorities, and he said: “These skill sets that you have need to be transferred into three main elements: You need to have a mindset, speed, and quality of product.
"In a business, the most important factors are the product, resistance, and community approval." (AN photo by Huda Bashatah)
“Mindset nowadays is everything — without a mindset, you can never grow a business.”
He cautioned current entrepreneurs about the limitations of focusing solely on product excellence, asking: “What are you going to do with an amazing product without the right mindset and the right speed to execute it?”
"In a business, the most important factors are the product, resistance, and community approval." (AN photo by Huda Bashatah)
During the same session, Abdullah Al-Saleem, the CEO and co-founder of Mushtari, a platform for business acquisition, shared valuable insights on when and how entrepreneurs should seek guidance for their ventures.
“Every time is the right time to seek help,” Al-Saleem said, highlighting the importance of continuous learning and consultation in business development.
He advocated for a two-pronged approach to seeking advice, distinguishing between general business consultants and industry-specific experts.
He added: “There are two people you have to seek help from: People that know generally about the industry, and people that know specifically about the industry.”
Using the restaurant business as an example, Al-Saleem described how he would consult general business experts for fundamentals like “hiring, culture, (and) cash flow,” while seeking industry-specific guidance for specialized operations.
However, gathering advice, he said, was just the first step. He noted that it was crucial to ensure team involvement in implementing recommendations.
He said: “When I take all these ideas or all these bits of advice, I brainstorm it with the team.”
This collaborative approach ensured that potential solutions were thoroughly evaluated before implementation, he said.
Al-Saleem further emphasized the importance of practical application through trial and error, and he always involved his team in the process.
He added: “They are the engine of the business and without the team, there is no business.”
Saudi Arabia, China, Iran meet to advance Beijing Agreement
Efforts focus on regional stability, economic collaboration
Updated 19 November 2024
Arab News
RIYADH: The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement was held in Riyadh on Tuesday, the Saudi Press Agency reported.
Saudi Deputy Foreign Minister Waleed bin Abdulkarim Elkhereiji chaired the meeting, with Vice Foreign Minister of China Deng Li and Iran’s Deputy Foreign Minister for Political Affairs Majid Takht Ravanchi present.
The Saudi and Iranian representatives reaffirmed their commitment to fully implementing the Beijing Agreement and strengthening neighborly relations through adherence to the UN Charter, the Charter of the Organization of Islamic Cooperation, and international law, emphasizing respect for sovereignty, independence, and security.
Saudi Arabia and Iran also welcomed China’s ongoing positive role and emphasized the importance of its support in following up on the Beijing Agreement’s implementation. China reiterated its readiness to encourage further steps by both nations to enhance their relationship in various fields.
The three countries praised the progress in Saudi-Iranian relations, highlighting the significance of direct communication at all levels and the opportunities for mutual cooperation amid regional tensions that threatened global and regional security.
They noted the progress in consular services, enabling over 87,000 Iranian pilgrims to perform Hajj and more than 52,000 to perform Umrah securely in 2024.
They also welcomed the first meeting of the Saudi-Iranian Joint Media Committee and the signing of a memorandum of understanding between the Prince Saud Al-Faisal Institute for Diplomatic Studies and Iran’s Institute for Political and International Studies.
Saudi Arabia and Iran expressed their readiness to sign a double taxation avoidance agreement and, along with China, looked forward to expanding economic and political cooperation.
The three nations called for an immediate end to Israeli aggression in Palestine and Lebanon, and condemned violations of Iran’s sovereignty and territorial integrity.
They stressed the need for uninterrupted humanitarian aid to Palestine and Lebanon and warned that continued violence posed serious threats to regional and global security, including maritime safety.
They also reaffirmed their support for a comprehensive political solution in Yemen, in line with internationally recognized principles under UN auspices.
Saudi Arabia foreign minister urges a balanced energy transition at G20 Summit session
Prince Faisal outlined three pillars for effective energy transition during a discussion at the G20 Summit
Updated 19 November 2024
Arab News
RIO DE JANEIRO: Saudi Arabia’s foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday, Saudi Press Agency reported.
Prince Faisal was leading the Kingdom’s delegation during a session titled “Sustainable Development and Energy Transition,” SPA added.
Energy security represented a global challenge and an obstacle to development and poverty eradication, the minister said, calling for energy plans that considered each country’s circumstances and development needs.
Prince Faisal outlined three pillars for effective energy transition: Ensuring energy security, maintaining access to affordable energy, and achieving environmental sustainability.
He said that the transition required significant investment and time to maintain market stability while ensuring fairness and inclusivity.
Prince Faisal also highlighted the role of technological innovation in managing emissions and environmental impacts.
He said that Saudi Arabia’s investments in innovative technologies had resulted in one of the world’s lowest emissions intensity rates in oil and gas operations, adding that the Kingdom was also advancing its renewable energy goals, aiming for 50 percent of electricity generation from renewables by 2030.
Prince Faisal added that the Kingdom was also expanding its clean hydrogen production and implementing the circular carbon economy framework to repurpose emissions into valuable products.
During his address, the prince also outlined Saudi Arabia’s commitment to global sustainability through its flagship initiatives, the Saudi Green and Middle East Green programs, which are tailored to the country’s development needs.
He called for enhanced international cooperation to ensure energy transitions were equitable, inclusive and supportive of global development goals.
Prince Faisal expressed Saudi Arabia’s appreciation for Brazil’s leadership of the G20 in 2024 and extended well wishes to South Africa as it assumes the presidency in 2025, SPA reported.
Multi-billion global AI spending transforming business efficiency, SDAIA official tells Riyadh conference
Esam bin Abdullah Al-Wagait highlighted these figures during his keynote address at the 9th National Quality Conference
Updated 19 November 2024
Arab News
RIYADH: Global spending on artificial intelligence to improve operational efficiency exceeded $120 billion in 2023, with over 72 percent of organizations integrating AI into at least one area of their business, according to data cited by the director of the National Information Center at the Saudi Data and AI Authority.
Esam bin Abdullah Al-Wagait highlighted these figures during his keynote address at the 9th National Quality Conference, held on Tuesday at the Ritz-Carlton Hotel in Riyadh, the Saudi Press Agency reported.
Al-Wagait emphasized the growing role of AI in enhancing leadership capabilities, referencing a study from the 2024 Gartner IT Symposium/Xpo, which found that 97 percent of CEOs believe AI has improved their performance, reduced administrative burdens, and strengthened their ability to lead effectively, SPA added.
Al-Wagait told the conference that AI’s integration across various industries reflected its transformative potential and cited the number of industrial robots deployed in manufacturing operations exceeding 4 million globally in 2023, as reported by the International Federation of Robotics, further underlining AI’s role in operational excellence.
“AI is now a trusted partner for organizational leaders, offering accurate analytics and predictions that enable impactful decision-making,” he said. This trend, he explained, aligned with the concept of AI-augmented leadership, which is reshaping organizational strategies worldwide.
The conference session, themed “Role of Advanced Technologies in Ensuring the Quality of Services and Products,” brought together industry leaders and experts to discuss the role of AI and advanced technologies in improving quality assurance and operational outcomes.
