Initiative will help over 90 gifted students from across Saudi Arabia
Amani bint Mohammed Al-Shawi, CEO of Academy 32 at KACST, highlighted the program’s pivotal role in nurturing young talents
Updated 01 July 2024
Arab News
RIYADH: The King Abdulaziz City for Science and Technology launched on Monday the 2024 Generation Research and Innovation Enrichment Program.
This initiative, organized by the organization’s Academy 32 in collaboration with the King Abdulaziz and His Companions Foundation for Giftedness and Creativity, also known as Mawhiba, will help over 90 gifted students from across Saudi Arabia cultivate their skills.
In her opening remarks, Amani bint Mohammed Al-Shawi, CEO of Academy 32 at KACST, highlighted the program’s pivotal role in nurturing young talents and preparing them for local, regional, and international competitions.
She cited the outstanding achievements of last year’s participants, who won nine awards at the International Science and Engineering Fair in the US, 13 medals and special awards at the International Invention, Innovation and Technology Exhibition in Malaysia, and 25 special awards and eight grand prizes at the National Olympiad for Scientific Creativity.
NEOM’s Oxagon leads the way in sustainable industrial revolution
Updated 4 min 45 sec ago
Reem Walid
RIYADH: Oxagon, the industrial cornerstone of NEOM, has solidified its position as a critical hub for logistics and manufacturing, perfectly aligned with Saudi Arabia’s Vision 2030.
Through a blend of innovation, sustainability, and technological progress, Oxagon has become a global model for future industrial development. Spanning approximately 50 sq. km, it ranks among the largest floating industrial complexes worldwide and is on track to achieve 100 percent renewable energy use by 2030.
The accomplishments of 2024 underscore Oxagon’s commitment to economic diversification and environmental responsibility, offering valuable lessons for businesses. By prioritizing sustainability, embracing cutting-edge technologies, and showcasing adaptability, Oxagon sets new benchmarks for the logistics and manufacturing sectors.
Driving sustainability
Oxagon stands as a beacon of sustainable practices within logistics and manufacturing. Paolo Carlomagno, partner at Arthur D. Little Middle East, notes that Oxagon’s initiatives align with the core objectives of Saudi Vision 2030, aiming to create a diversified economy while reducing environmental impact.
“For example, Oxagon’s logistics operations integrate renewable energy sources, such as solar and wind, which have collectively reduced carbon emissions by an estimated 25 percent compared to traditional models,” Carlomagno explained.
Paolo Carlomagno, partner at Arthur D. Little Middle East, notes that Oxagon’s initiatives align with the core objectives of Saudi Vision 2030, aiming to create a diversified economy while reducing environmental impact.
“Additionally, the manufacturing ecosystem embraces circular economy principles, focusing on resource efficiency and waste minimization. By 2026, Oxagon’s waste-to-resource initiatives are projected to recycle 90 percent of industrial waste generated within the facility,” he added.
Carlomagno further emphasized that advanced systems such as green building technologies and smart water management are integral to Oxagon’s strategy to minimize its environmental footprint.
“For instance, Oxagon employs advanced desalination techniques that use 40 percent less energy than conventional methods, providing a sustainable water supply for both industrial operations and local communities,” he noted. “These efforts create a resilient, eco-friendly industrial ecosystem capable of adapting to future challenges.”
Collaboration is central to Oxagon’s strategy, with partnerships with global corporations like Siemens and Schneider Electric driving the accelerated adoption of sustainable practices.
“These collaborations have led to the implementation of innovative solutions, such as energy-efficient manufacturing systems and low-carbon supply chain logistics, setting a standard for the region and beyond,” he added.
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Oxagon’s logistics operations integrate renewable energy sources, such as solar and wind, which have collectively reduced carbon emissions by an estimated 25 percent compared to traditional models.
Oxagon employs advanced desalination techniques that use 40 percent less energy than conventional methods, providing a sustainable water supply for both industrial operations and local communities.
Real-time demand forecasting has allowed Oxagon’s partners to reduce inventory holding costs by 20 percent, reflecting its agility in a dynamic global market.
Technological innovations
In 2024, Oxagon has continued to leverage cutting-edge technologies to revolutionize logistics and manufacturing operations. Carlomagno noted that technologies such as artificial intelligence, robotics, and the Internet of Things have played a crucial role in streamlining processes, enhancing predictive maintenance, and optimizing inventory management, resulting in efficiency gains of approximately 30 percent compared to 2023.
“One notable advancement has been the integration of autonomous electric vehicles within its logistics network. These vehicles, combined with AI-driven route optimization algorithms, have reduced delivery times by 20 percent and operational costs by 15 percent,” he said.
“Additionally, smart manufacturing hubs equipped with IoT-enabled machinery have increased production accuracy by 25 percent, while reducing downtime through predictive maintenance protocols.”
Looking forward, Carlomagno highlighted that Oxagon’s commitment to emerging technologies promises further industry disruption.
“The adoption of blockchain for transparent supply chain management is expected to reduce fraud and improve traceability, while quantum computing — currently under exploration — offers the potential to solve complex logistical challenges at unprecedented speeds. Such innovations are expected to drive a projected 10 percent annual growth rate in Oxagon’s industrial output over the next five years,” he said.
Federico Pienovi, chief business officer and CEO for APAC & MENA at Globant, outlined Oxagon’s use of AI-driven analytics, blockchain-enabled supply chain management, and autonomous systems to create a highly connected and efficient operational ecosystem. These advancements have improved transparency, reduced inefficiencies, and streamlined processes, enabling smarter decision-making.
“For example, AI and machine learning have played pivotal roles in logistics, enabling predictive models that optimize shipping schedules. By analyzing port availability in real-time, these systems ensure vessels depart and arrive with precision, avoiding costly delays and idle time. Similarly, blockchain technology ensures supply chain transparency, building trust and resilience across global operations,” said the CEO.
In manufacturing, robotics, supported by AI, has revolutionized production lines, offering unmatched precision, scalability, and flexibility.
“IoT sensors have elevated predictive maintenance to a new level, reducing downtime and enhancing overall equipment efficiency. Combined, these innovations are driving higher product quality, creative business models, and smarter scalability,” he said.
Federico Pienovi, chief business officer and CEO for APAC & MENA at Globant, outlined Oxagon’s use of AI-driven analytics, blockchain-enabled supply chain management, and autonomous systems to create a highly connected and efficient operational ecosystem.
Looking to the future, Pienovi emphasized that Oxagon’s connected experiences will further enhance operations, not just in factories and logistics but also for employees. By integrating data from IoT, AI, and machine learning, Oxagon offers seamless workflows while maintaining a people-centric approach, improving employee satisfaction, operational agility, and productivity.
Evolving market dynamics
As global markets evolve, Oxagon provides a model for how businesses can adapt and thrive. Carlomagno noted that Oxagon’s strategy revolves around three core pillars: collaboration, sustainability, and digital transformation. By forming strategic partnerships with technology providers, academic institutions, and multinational corporations, Oxagon has positioned itself as an innovation hub.
“For example, a partnership with MIT enabled the establishment of a data-driven logistics optimization platform that has increased supply chain efficiency by 15 percent,” he said.
Oxagon’s consumer-centric approach also sets it apart. By leveraging data analytics and consumer feedback loops, the company ensures its products and services meet evolving market demands.
“For instance, real-time demand forecasting has allowed Oxagon’s partners to reduce inventory holding costs by 20 percent, reflecting its agility in a dynamic global market,” said Carlomagno.
Pienovi emphasized that embracing digital transformation is a critical strategy for future success.
“Oxagon has placed advanced technologies like AI, IoT, edge computing, and automation at the core of its operations. By integrating predictive AI models, Oxagon has optimized its supply chain management, enabling it to forecast demand and identify the most efficient logistics routes,” he said.
The CEO added: “At the same time, IoT sensors and robust platforms have elevated operational efficiency, improved product quality, and enhanced risk mitigation efforts. These technologies have not only transformed manufacturing and logistics but have also paved the way for connected experiences, where personalized insights enhance decision-making across operations.”
Sustainability remains a key pillar of Oxagon’s strategy. “By integrating circular economy principles, Oxagon has redefined what it means to operate in an environmentally conscious manner, aligning itself with the growing consumer demand for responsible and eco-friendly brands. Its efforts in sustainability are not merely a corporate responsibility but also a strategic driver for differentiation in the global market,” said Pienovi.
In an increasingly digital business environment, Pienovi highlighted the growing importance of data privacy and cybersecurity.
“Oxagon’s commitment to compliance with regulations, such as Saudi Arabia’s NCA and international standards, underscores its focus on maintaining trust and ensuring secure operations,” he concluded.
As global business becomes more interconnected, Oxagon’s initiatives in 2024 provide a powerful model for how businesses can successfully adapt by integrating innovation, sustainability, and collaboration.
Jordan to record nearly 3% economic growth in 2025, experts project
Updated 8 min 52 sec ago
Reem Walid
RIYADH: Jordan is set to experience an economic growth rate between 2.5 percent and 3 percent in 2025, bolstered by improvements in the business environment and increased investments, according to economic experts.
Adli Kandah noted that this growth would likely lead to a slight reduction in unemployment, although challenges in the labor market persist, the Jordan News Agency reported.
The projected growth aligns with the government’s recent corrective measures in the final quarter of 2024, including reduced penalties for unlicensed vehicles and tax cuts for electric cars. These steps are part of a broader effort to improve economic conditions and enhance both financial and social stability.
Jordan has maintained a steady average growth rate of 2.5 percent over the past decade, according to the World Bank, providing a solid foundation for future economic expansion.
Kandah also highlighted positive indicators, including regional developments that could benefit Jordan, particularly in foreign trade and investment sectors. He pointed to potential gains from developments in Syria, especially if international sanctions are lifted.
Raad Al-Tal, professor of Economics at the University of Jordan, noted that the country’s political stability and economic reforms have helped it remain resilient. Despite regional geopolitical challenges, including the ongoing situation in Gaza, Jordan has shown adaptability.
“The tourism sector, in particular, has shown notable recovery, bolstered by improved regional security and increased visitor numbers,” Al-Tal said, as reported by Pentra.
He also emphasized the positive impact of remittances from Jordanian expatriates, which have strengthened the country’s monetary reserves.
Ahmad Al-Majali, an economic researcher, also confirmed that despite external pressures and regional political turbulence, Jordan’s economy has shown positive performance in 2024.
Al-Majali attributed this resilience to the central role of monetary policy in maintaining stability and the progress achieved under the Economic Modernization Vision.
“The monetary policy has served as a fundamental pillar for the economy during this period,” he said.
He further emphasized that the Economic Modernization Vision has spurred optimism among investors, contributing to increased economic activity.
Looking ahead to 2025, experts anticipate that lower global interest rates could reduce local financing costs, providing an additional boost to investment. However, they stress that continued economic reforms and efficient public spending are crucial to sustaining this positive trajectory.
A Palestinian was shot dead in her West Bank home. Her family blames Palestinian security forces
A statement from the Palestinian security forces said she was shot by “outlaws” — the term it has been using for local militants who have been battling Israeli forces in recent years.
Updated 8 min 36 sec ago
AP
JENIN: A Palestinian woman was shot and killed in her home in the volatile northern West Bank town of Jenin, where the Palestinian Authority is carrying out a rare campaign against militants.
The family of Shatha Al-Sabbagh, a 22-year-old journalism student, said she was killed by a sniper with the Palestinian security forces late Saturday while she was with her mother and two small children. They said there were no militants in the area at the time.
A statement from the Palestinian security forces said she was shot by “outlaws” — the term it has been using for local militants who have been battling Israeli forces in recent years. The security forces condemned the shooting and vowed to investigate it.
Separately, a fourth infant has died of hypothermia in the Gaza Strip, where hundreds of thousands of Palestinians displaced by nearly 15 months of war are huddled in tents along the rainy, windswept coast.
The Western-backed Palestinian Authority exercises limited self-rule in parts of the Israeli-occupied West Bank. It is deeply unpopular among Palestinians, largely because it cooperates with Israel on security matters, even as Israel accuses it of incitement and of generally turning a blind eye to militancy.
In a statement, the Al-Sabbagh family accused the Palestinian security forces of having become “repressive tools that practice terrorism against their own people instead of protecting their dignity and standing up to the (Israeli) occupation.”
The Hamas militant group also blamed the security forces and condemned the shooting. It noted that Al-Sabbagh was the sister of one of its fighters who was killed in a battle with Israeli troops last year.
Palestinian security forces launched a rare operation earlier this month in Jenin, which has seen heavy fighting between Palestinian militants and Israeli forces in recent years. The Palestinian Authority says the operation is aimed at restoring law and order, while critics charge it with aiding the occupation.
Violence has flared in the West Bank since Hamas’ Oct. 7, 2023 attack out of Gaza triggered the war there. At least 835 Palestinians have been killed by Israeli fire in the West Bank since then, according to the Palestinian Authority. Most appear to have been militants killed in clashes with Israeli forces, but the dead also include civilians and participants in violent demonstrations.
Israel captured the West Bank, along with Gaza and east Jerusalem, in the 1967 Mideast war. The Palestinians want all three territories for a future state.
An infant dies from cold and his twin is hospitalized in Gaza
In the Gaza Strip, 20-day-old Jomaa Al-Batran died from hypothermia and his twin brother Ali was in the intensive care unit of the Al-Aqsa Martyrs Hospital.
Their father, Yehia, said the twins were born one month premature and were only able to spend a day in the nursery at the hospital, which like other health centers in Gaza has been overwhelmed by the war and is only partially functioning.
He said medics told their mother to keep the newborns warm, but it was impossible because they live in a tent and temperatures regularly drop below 10 degrees Celsius (50 F) at night. At least three other babies have died from the cold in recent weeks, according to local health officials.
The war began when Hamas-led militants stormed into southern Israel on Oct. 7, 2023, killing some 1,200 people, mostly civilians, and abducting around 250, including women, children and older adults. Around 100 hostages are still inside Gaza, at least a third of whom are believed to be dead.
Israel’s offensive has killed over 45,000 Palestinians and wounded more than 100,000, according to local health authorities. They say women and children make up more than half the fatalities but do not distinguish between militants and civilians in their count. Israel says it has killed over 17,000 militants, without providing evidence.
Israel’s bombardment and ground operations have displaced some 90 percent of Gaza’s population of 2.3 million people, often multiple times. Vast areas of the territory, including entire neighborhoods, have been pounded to ruins, and critical infrastructure has been destroyed.
Israeli restrictions, ongoing fighting and the breakdown of law and order have hindered the delivery of humanitarian aid, raising fears of famine, while widespread hunger has left people at greater risk of disease and death.
Syria's HTS leader says holding elections can take up to four years
Updated 5 min 1 sec ago
Arab News
Holding elections in Syria can take up to four years, said the military chief of Syria's Hayat Tahrir al-Sham Ahmed al-Sharaa, promising to dissolve the armed wing and integrate into Syrian armed forces.
Al-Sharaa made the remarks during an exlcusive interview with Saudi broadcaster Al Arabiya to be aired on Sunday.
Public finances of GCC countries show surplus in 2024, 2025: report
GCC countries posted a financial surplus of $134 billion in 2022, representing 6.1% of their GDP
Total public spending in the GCC reached its highest level in 2023, hitting $639 billion
Updated 32 min 1 sec ago
Nirmal Narayanan
RIYADH: Public finances in the Gulf Cooperation Council countries are expected to maintain a stable trajectory, with a projected stabilization of public debt at 28 percent of the gross domestic product in 2024 and 2025.
According to the latest data from the Gulf Statistical Center, the region’s fiscal outlook remains positive, building on a surplus of $2 billion in 2023, Emirati news agency WAM reported.
This comes as GCC countries posted a financial surplus of $134 billion in 2022, representing 6.1 percent of their GDP. Public debt reached approximately $628 billion in 2023, compared to $144 billion in 2014, while the debt-to-GDP ratio peaked at 40.3 percent in 2020 before declining to 29.8 percent in 2023.
Earlier this month, Saudi Arabia reached a milestone in public financial management by successfully transitioning to the International Public Sector Accounting Standards on an accrual basis. The move aligns with the Kingdom’s broader efforts to modernize its public sector financial practices as part of its Vision 2030 agenda.
GCC-Stat said that financial risks for countries in the region will remain low in the short term, driven by forecasts of locally and globally stable or declining interest rates.
Citing recent reports from credit rating agencies, GCC-Stat added that the credit attractiveness of the regional countries is expected to improve, which will allow for the rescheduling of public debts at lower financial costs.
Affirming the growth of GCC economies, credit rating agency Moody’s projected in November that Saudi Arabia’s economy will grow by 1.7 percent this year, before accelerating to 4.7 percent in 2025 and 2026. The agency also forecasted that the UAE’s economy will expand by 3.8 percent in 2024 and 4.8 percent in 2025.
GCC-Stat said that the fiscal budget reforms planned by GCC nations could contribute to striking a balance between maintaining economic growth and sustaining public spending.
According to the report, total public revenues in the GCC amounted to $641 billion in 2023, with oil revenues contributing 62 per cent. In 2022, public revenues in the region totaled $723 billion, with oil revenues accounting for 67 percent.
Total public spending in the GCC reached its highest level in 2023, hitting $639 billion. The report said that current spending accounted for 85 percent of public spending in 2023, while investment spending comprised 15 percent.
