Saturday, October 24
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Business

Saudi Arabia Partners with World Bank to Ensure No Nation Is Left Behind on AI

Business
Riyadh, The Kingdom of Saudi Arabia and the World Bank have announced a long-term partnership to accelerate the use of Artificial Intelligence (AI) in developing nations in support of economic and development goals. Director of the National Information Center (NIC) Esam bin Abdullah Alwagait said: "Through this partnership with the World Bank, Saudi Arabia aims to help all countries of the world to unlock the value of artificial intelligence and to share the benefits of data-driven decision-making to support economic and social growth. Data and AI are at the heart of Saudi Arabia's Vision 2030, and through the development of our own AI agenda and policies, we have developed skills and resources that we want to share to ensure that all nations are equally prepared to harness the value of A...

Saudi Arabia Appointed as Coordinator of CODEX for the Near East Region Countries

Business
Riyadh, The Presidency, Secretariat as well as the board members of the CODEX ALIMENTARIUS (CODEX) supported appointing the Kingdom of Saudi Arabia, represented by the Saudi Food and Drug Authority, as the Coordinator and a host to the Coordinating Committee for the Near East Region countries of the Codex Alimentarius Commission. This was unfolded, during the meetings of the main committee of the commission, concluded, on Tuesday. Appointing the Kingdom for the post, follows the role of the Saudi Food and Drug Authority as it permanently contributes to drawing relevant policies and procedures for consolidating the general principles for food safety and their impacts on the countries of the region, in addition to taking part in drafting the Codex commission standards, as the Kingdom chair...

Holding World Virtual Digital Summit, Significant, Vital, as the World Economy Experiencing Exceptional Circumstances -Minister of Investment Says

Business
Riyadh, Minister of Investment Eng. Khalid bin Abdulaziz Al-Faleh confirmed here today that the meeting and participation of an elite of prominent officials, leaders and world class companies, in a series of the world virtual digital summit's encounters, organized by the Financial Times, in collaboration with the Ministry of Investment and the Saudi G20 Secretariat, among the programs of the international conferences to be held, on the sidelines of the Kingdom of Saudi Arabia presidency of the G20, is a significant as well as vital, due to the exceptional circumstances the world economy is experiencing. Such meetings lay grounds to discuss the best of ways to consolidate commerce and investment among the world countries, the minister stated. The decrease of foreign direct investment flow...

Syria, Cuba to enhance economic relations

Business
Havana, Deputy Prime Minister of Cuba Ricardo Cabrisas discussed on Saturday with Syria’s Ambassador to Cuba, Dr. Idris Mayya ,means of enhancing relations between Syria and Cuba, particularly in economic fields. Cabrisas, during the meeting, reiterated his country’s stances in support of Syria, stressing the necessity of enhancing the economic relations between the two countries. Dr. Mayya, for his part, briefed the Cuban side on the latest developments in Syria, particularly the economic side, in light of the unilateral coercive economic measures imposed on Syria by the US and the European Union and stealing the Syrian resources, particularly oil, by the US.   Source: Syria Arab News Agency

Wahaj Company Obtains Quality License to Manufacture Mechanical Components of Typhoon Fighters as the First Saudi Company

Business
Riyadh, The Saudi Advanced Technologies Company (Wahaj) has obtained a quality license, from BAE Systems, as the first Saudi company to manufacture mechanical components of the combat aircraft Eurofighter Typhoon in the Kingdom of Saudi Arabia. The President of Wahaj Ayman Al-Hazmi said that obtaining this license is an indication of Wahaj's commitment to the quality of products being manufactured and an indication of its keenness to localize these industries, through national human cadres, in line with the Kingdom's Vision 2030 to localize military industries. He said that Wahaj is one of the AS9100-certified companies that works to ensure that products in the fields of aviation and defense are manufactured with high accuracy, adding that this license from BAE Systems is the culmination...

Asbar World Forum Establishes Partnership with Industry and Mineral Resources, Economy and Planning Miniseries

Business
Riyadh, The fifth edition of Asbar World Forum, which will be held remotely during the period from 2 November to 4 November, 2020, has established a partnership with the Ministry of Industry and Mineral Resources and the Ministry of Economy and Planning due to their role in making and shaping the future of the economy and energy in the Kingdom of Saudi Arabia and the world, in addition to finding innovative energy solutions to mitigate its impacts on the ecosystem and address climate challenges. Asbar World Forum aims to anticipate the future of many key sectors, including water, distance education, health, digital transformation, crisis management, epidemic response, the future of work and investment and trade.   Source: Saudi Press Agency

Danish Ambassador to Saudi Arabia Reviews Investment Opportunities in Asir Region

Business
Abha, The Secretary General of Abha Chamber of Commerce and Industry Dr. Riyadh Al Aqran discussed yesterday with the Ambassador of the Kingdom of Denmark to the Kingdom of Saudi Arabia Ole Moesby the most prominent industrial, commercial and tourism investment opportunities in the Asir Region. Dr. Al Aqran pointed out the importance of strengthening cooperation with Denmark, as it is one of the most prominent industrial countries with industrial, technical and tourism expertise. He also highlighted the economic elements that characterize Asir region, especially in the field of tourism and industrial investment in addition to Asir's infrastructure and availability of natural raw materials that are factors in several industries.   Source: Saudi Press Agency

Saudi Arabia Inaugurates First Home-Made HSI32 Speed Interceptor Boat System and First Floating Dock

Business
Dammam, The Ministry of Defense and the General Authority for Military Industries (GAMI) announced the launch and localization of the first locally-manufactured HSI32 speed interceptor boats as well as the commissioning of the first Floating Dock. This comes as part of a plan to localize military industries in the Kingdom of Saudi Arabia where they will be manufactured and localized locally according to the latest international specifications and standards in cooperation between the French CMN Group and Zamil Offshore Services Company. The inauguration ceremony was witnessed, today at the headquarters of Zamil Offshore Services Company in the Eastern region, by GAMI Governor Eng. Ahmed bin Abdulaziz Al-Ohali; Commander of Royal Saudi Naval Forces, Admiral Fahd bin Abdulla Al-Ghufaili; Pr...

150 industrial companies take part in Monthly Shopping Festival “Made in Syria” expo on Thursday

Business
Damascus, Chamber of Industry of Damascus and its Countryside completed the preparations for kicking off the 105th round of Monthly Shopping Festival “Made in Syria” expo on Thursday at al-Jalaa Sports Hall in Mazzeh in Damascus. Member of the Board of Directors at Damascus and its Countryside Chamber of Industry and Chairman of the Organizing Committee of the festival, Talal Qala’ji told SANA in a statement that 150 national industrial companies from various food, textile, chemical and engineering sectors take part in the festival which will last until 24th of current month.  Talal Qala’ji added that the event is providing purchase vouchers to martyrs’ families, in addition to drawing lots on golden medals to the visitors. The Festival had kicked off its 1st round in April, 2015 ...

MiSK Hosts EWC 2020

Business
Jeddah, Prince Mohammed bin Salman Foundation (MiSK), in partnership with King Abdullah University of Science and Technology (KAUST) will host the Entrepreneurship World Cup 2020 (EWC) from 18-20 October, with the aim to attract advanced technologies and the best talents to the Kingdom of Saudi Arabia while supporting Saudi startups, with the participation of 175,000 applicants from 200 countries. EWC this year attracted 15,000 applications from Saudi entrepreneurs, 15 of whom were chosen to display their projects virtually in the Saudi National Finals, which was held on September 7, 2020, as six of these Saudi companies were selected to participate in the global finals. The first three projects will automatically reach the final, while the remaining three will compete with other internat...