黑料社区

2024 marks 黑料社区鈥檚 bold leap toward technological leadership

2024 marks 黑料社区鈥檚 bold leap toward technological leadership
黑料社区 is poised to continue shaping the future of technology, creating growth opportunities, and enhancing the quality of life for its citizens. Shutterstock
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Updated 31 December 2024

2024 marks 黑料社区鈥檚 bold leap toward technological leadership

2024 marks 黑料社区鈥檚 bold leap toward technological leadership
  • Kingdom launched ALLaM, a generative AI model tailored specifically for the Arabic language
  • Technology also played a critical role during the Hajj season

RIYADH: 黑料社区鈥檚 digital transformation journey reached new heights in 2024, solidifying its position as a global leader in technology and innovation.聽

Guided by Vision 2030, the Kingdom continued to reshape its economic and social landscapes through extensive digital initiatives spanning government, the private sector, and international partnerships. From advancements in artificial intelligence to significant strides in the digital economy, 黑料社区鈥檚 achievements over the past year set the stage for even bolder ambitions in 2025.

Revolutionary achievements

One of the standout accomplishments of 2024 was the consolidation of government data. The creation of a centralized data lake integrated 27 large systems with over 322 systems in the National Data Bank. This initiative not only enhanced the quality of national data but also automated data-sharing processes, fostering collaboration across entities and delivering substantial cost savings.

黑料社区 also launched ALLaM, a generative AI model tailored specifically for the Arabic language. Integrated into IBM鈥檚 Watsonx platform, ALLaM was recognized as the leading generative AI model for Arabic, as measured by the Arabic MMLU benchmark. This innovation underscored the Kingdom鈥檚 commitment to preserving its cultural and linguistic heritage while advancing global AI standards.

鈥満诹仙缜檚 digital transformation initiatives, driven by Vision 2030, have created a strong foundation for the Kingdom to emerge as a global leader in technology and innovation,鈥 said Louise Bou Rached, sales director for the Middle East, North Africa, and Turkiye region at Milestone Systems, in an interview with Arab News.聽




Louise Bou Rached, Sales Director, MENAT at Milestone Systems. Supplied

She continued: 鈥淭he strategic focus on AI, IoT (Internet of Things), 5G, and cloud infrastructure is enabling the development of smart cities, digital governance, and innovative industries.鈥

Bou Rached highlighted initiatives like NEOM and The Line, which combine cutting-edge technology with sustainability to redefine urban living and attract global attention. 鈥淭his transformation is enhancing the Kingdom鈥檚 international reputation and driving economic diversification, positioning 黑料社区 as a model for other nations aspiring to achieve technological leadership,鈥 she said.

A key element in this transformation has been the integration of advanced video management systems across smart city projects, improving security, efficiency, and data-driven decision making. 鈥淰MS technology ensures the seamless operation of urban environments and aligns with the Kingdom鈥檚 broader vision of fostering a secure and intelligent ecosystem,鈥 Bou Rached added.

Technology also played a critical role during the Hajj season, with advanced AI solutions ensuring the safety and well-being of millions of pilgrims. Smart platforms like Basier and Sawaher deployed over 400 AI-linked cameras across key locations, including tunnels and the Jamarat facility. These systems provided real-time crowd density analysis, enabling authorities to address emergencies efficiently. This initiative marked a significant leap in combining AI with large-scale event management.

鈥淧rojects involving smart cities, artificial intelligence, and renewable energy are shaping new industries and lifestyles in 黑料社区,鈥 said Arun Leslie John, the chief market analyst at Century Financial, in an interview with Arab News. Smart cities like NEOM, he noted, are redefining urban living with intelligent systems that optimize resource management, sustainability, and citizen engagement.

鈥淎I is reshaping industries, from health care to logistics, by enabling predictive analytics, automating processes, and improving efficiency,鈥 he added. John also pointed out that the implementation of Open RAN technology is 鈥渟eriously changing the scene of the country鈥檚 telecommunications sector, offering flexible and cost-efficient network infrastructure, essential for extending 5G and upcoming 6G networks.鈥澛

鈥淐ompanies specializing in such technologies can take advantage of the emergent demand for improved telecommunication solutions,鈥 John said.




Arun Leslie John, Chief Market Analyst at Century Financial. Supplied

AI discussions

黑料社区 reinforced its position as a global AI leader by hosting the third Global AI Summit, which brought together world leaders, researchers, and industry experts to discuss ethics, developments, and the future of AI. The event emphasized the Kingdom鈥檚 commitment to becoming a hub for AI innovation.

The country also launched the Open Access National Gateway, providing scientists and researchers access to more than 1,000 advanced laboratories. This initiative bolstered 黑料社区鈥檚 ability to attract top talent, foster innovation, and drive scientific breakthroughs across various fields.聽

The establishment of the National Semiconductor Hub marked a significant milestone in the Kingdom鈥檚 drive for technological independence. Launched in partnership with top institutions like King Abdullah University of Science and Technology, the hub supports multiple initiatives, including a joint master鈥檚 program with the University of California and Princess Nourah University. Over 850 professionals were trained to localize semiconductor technology, further cementing 黑料社区鈥檚 place in the global tech landscape.

鈥満诹仙缜檚 investment in space exploration is about exploring the cosmos and leveraging satellite technology to advance telecommunications, agriculture, and disaster management. These advancements are driving diversification away from oil dependency, creating a high-tech economy that attracts global investments and cultivates homegrown innovation,鈥 Bou Rached noted.

黑料社区鈥檚 digital transformation efforts received global recognition in 2024. The Kingdom achieved several milestones such as securing the second place among G20 countries in the ICT Development Index and sixth place globally in the UN E-Government Development Index, climbing 25 positions.

These achievements underscored 黑料社区鈥檚 progress in delivering efficient, accessible, and citizen-centric digital services.

In the space sector, 黑料社区 celebrated the graduation of 15 startups from the Space Tech Entrepreneurship Program, which offered financial support, training, and mentorship. This initiative attracted both domestic and international investments, highlighting the Kingdom鈥檚 growing influence in the space industry.

The Kingdom also secured over SR41 billion ($10.9 billion) in foreign and domestic investments in technology and data centers in 2024. These investments were complemented by enhancements to digital infrastructure, including efforts to localize emerging technologies and establish a thriving innovation ecosystem.

Notable initiatives included the Cloud First Policy, which prioritized cloud-based solutions across government entities and the expansion of 5G networks, positioning 黑料社区 among the top 10 countries globally for mobile Internet speeds.

In March, the Kingdom unveiled an updated Digital Transformation Index, designed to elevate public sector adherence to technological advancements. The revised standards, reduced from 125 to 96, aimed to improve the quality of e-government services in line with Vision 2030. More than 233 entities participated in workshops to refine methodologies, contributing to an 85.53 percent overall progress rate in digital transformation.

鈥業nto New Worlds鈥

Scheduled for February 2025 in Riyadh, LEAP 鈥 the Kingdom鈥檚 premier tech-focused conference and exhibition 鈥 will bring together 1,000 expert speakers, 680 startups, and over 215,000 global attendees. Under the theme 鈥淚nto New Worlds,鈥 the event will explore cutting-edge technologies and their practical applications. The 2024 edition of LEAP surpassed previous ones, with agreements worth more than $12 billion being signed.

Greater achievements on the horizon

黑料社区鈥檚 roadmap for 2025 builds on the transformative momentum of 2024, with ambitious plans designed to further elevate the Kingdom鈥檚 global standing in technology and innovation. In AI and data advancements, efforts will focus on increasing the number of datasets in the National Data Bank to improve accessibility and foster greater collaboration.

The adoption of AI across government entities will be further strengthened to stimulate innovation and improve service delivery. Expanding the scope of the National Smart Cities Platform will be a key priority, with an emphasis on security, safety, and sustainability, while introducing new use cases to enhance quality of life and environmental conservation.

In space exploration, 黑料社区 plans to manufacture and launch a satellite dedicated to investigating space weather as part of the Artemis 2 mission to the moon. Economically, the Kingdom aims to bolster the ICT sector鈥檚 contribution to its gross domestic product by introducing two additional multibillion-dollar companies, bringing the total number of such companies to eight.

As 2025 unfolds, 黑料社区 is poised to continue shaping the future of technology, creating growth opportunities, and enhancing the quality of life for its citizens. By building on its 2024 achievements, the Kingdom is well-positioned to realize its Vision 2030 goals and establish itself as a global leader in the digital era.


Saudi Aramco lifts crude prices for Asian buyers

Saudi Aramco lifts crude prices for Asian buyers
Updated 06 August 2025

Saudi Aramco lifts crude prices for Asian buyers

Saudi Aramco lifts crude prices for Asian buyers

RIYADH: Saudi Aramco has increased the official selling price of its flagship Arab Light crude for Asian buyers in September.

The state-owned energy giant raised the Arab Light price by $1 per barrel from August to a premium of $3.20 over the average of Oman and Dubai crude benchmarks, according to an official statement issued on Wednesday. Prices for Arab Extra Light rose by $1.20 per barrel, while Arab Heavy gained $0.70.

In North America, Aramco set the September OSP for Arab Light at $4.20 per barrel above the Argus Sour Crude Index. The company prices its crude across five density-based grades: Super Light (above 40), Arab Extra Light (36-40), Arab Light (32-36), Arab Medium (29-32), and Arab Heavy (below 29).

Aramco鈥檚 monthly pricing decisions influence around 9 million barrels per day of crude exports to Asia and act as a benchmark for other major producers, including Iran, Kuwait, and Iraq. The adjustments are based on feedback from refiners and an assessment of crude value changes, product prices, and yields.

The price revisions come as the OPEC+ alliance agreed earlier this week to increase collective oil production by 547,000 barrels per day in September, citing improved global economic prospects and stable market fundamentals.

This move concludes the phased reversal of 2.2 million bpd in voluntary cuts introduced by eight members in 2023 to stabilize prices amid economic uncertainty.

The group reaffirmed its commitment to full compliance with the Declaration of Cooperation, with the Joint Ministerial Monitoring Committee continuing oversight.

The September hike will raise 黑料社区鈥檚 output to 9.97 million bpd. Russia is set to produce 9.44 million bpd, Iraq 4.22 million, and the UAE 3.37 million. Output targets for Kuwait, Kazakhstan, Algeria, and Oman are projected at 2.54 million, 1.55 million, 959,000, and 801,000 bpd, respectively.


Syria signs $14bn in investment deals, including airport and subway projects

Syria signs $14bn in investment deals, including airport and subway projects
Updated 06 August 2025

Syria signs $14bn in investment deals, including airport and subway projects

Syria signs $14bn in investment deals, including airport and subway projects

CAIRO: Syria signed 12 investment deals worth $14 billion on Wednesday in a ceremony attended by interim President Ahmed Al-Sharaa, including infrastructure, transportation and real estate projects aimed at reviving the war-damaged economy.

The agreements included a $4 billion deal for building a new airport in Damascus signed with Qatar鈥檚 UCC holding, and a $2 billion deal to establish a subway in the Syrian capital with the UAE鈥檚 national investment corporation.

Other major developments include the $2 billion Damascus Towers project signed with Italy-based UBAKO.

In July, Syria signed $6.4 billion of investments with 黑料社区 as it seeks to rebuild after a 14-year civil war.
 


Closing Bell: Saudi main index closes in green at 10,946聽

Closing Bell: Saudi main index closes in green at 10,946聽
Updated 06 August 2025

Closing Bell: Saudi main index closes in green at 10,946聽

Closing Bell: Saudi main index closes in green at 10,946聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index edged up on Wednesday, gaining 24.89 points, or 0.23 percent, to close at 10,946.74. 

The total trading turnover of the benchmark index stood at SR4.80 billion ($1.27 billion), with 169 listed stocks advancing and 78 declining. 

However, the Kingdom鈥檚 parallel market Nomu declined by 143.18 points to close at 26,709.64 

The MSCI Tadawul Index also recorded a modest gain, rising 0.12 percent to reach 1,410.12. 

The top performer on the main market was Shatirah House Restaurant Co., whose share price rose 10 percent to SR16.83. 

The company reported a 19.3 percent year-on-year increase in revenue for the first half of 2025, reaching SR83.81 million, up from SR70.26 million in the same period last year.

However, operating profit dropped nearly 30 percent to SR1.41 million, while net profit declined by 24.6 percent to SR1.07 million. 

The share price of Abdullah Saad Mohammed Abo Moati for Bookstores Co. also rose 10 percent to SR41.80. 

Jadwa REIT Al Haramain Fund saw its stock price increase by 5.62 percent to SR5.83. 

On the other hand, Riyadh Cement Co. witnessed a drop in its share price by 2.79 percent to SR31.40. 

In corporate announcements, Dr. Soliman Abdel Kader Fakeeh Hospital Co., known as Fakeeh Care, reported a 24.1 percent year-on-year rise in revenue for the second quarter of 2025, reaching SR811.84 million, compared to SR654.04 million in the corresponding period last year. 

In a statement on Tadawul, the company also announced that its net profit jumped 59 percent year on year in the second quarter to SR68.2 million, driven by strong underlying business growth across segments, lower finance costs, and higher finance income. 

Fakeeh Care鈥檚 share price climbed 2.35 percent to SR40.98. 

Herfy Food Services Co. reported revenue of SR284.56 million in the second quarter of 2025, marking a 5.5 percent decline compared to SR301.12 million in the same period of 2024. 

Despite the drop in sales, the company recorded a net profit of SR899,934 in the second quarter, reversing a net loss of SR23.7 million a year earlier.

The improvement was attributed to lower general and administrative expenses, reduced finance and zakat costs, despite increased selling and marketing expenses. 

Herfy鈥檚 share price rose 3.55 percent to SR23.65. 

Edarat Communication and Information Technology Co., also known as Edarat, posted a 31.6 percent year-on-year increase in net profit for the first half of 2025, reaching SR15.24 million, up from SR11.58 million a year earlier. 

The growth was driven by a 35.4 percent rise in gross profit, which reached SR27.9 million in the first half of 2025. 

Improved cost efficiency also played a role, with administrative expenses as a percentage of revenue declining from 17.56 percent in the first half of 2024 to 13.8 percent in the same period this year. 

Edarat鈥檚 share price fell 3.42 percent to SR240. 

Arabian Centers Co., known as Cenomi Centers, recorded a 34.2 percent year-on-year increase in net profit for the second quarter of 2025, reaching SR474.7 million, compared to SR353.8 million in the same period last year.

The rise in earnings was attributed to a 7.7 percent reduction in cost of revenue due to operational cost optimization, as well as a boost in other operating income, which reached SR14.2 million following the sale of land in Al Kharj. 

Cenomi Centers鈥 share price advanced 5.38 percent to SR21.56. 


Egypt鈥檚 exports increase 4.6% in May to $4.25bn

Egypt鈥檚 exports increase 4.6% in May to $4.25bn
Updated 06 August 2025

Egypt鈥檚 exports increase 4.6% in May to $4.25bn

Egypt鈥檚 exports increase 4.6% in May to $4.25bn
  • Petroleum product exports rose by 53.5%
  • Egypt鈥檚 trade deficit narrowed to $3.41 billion

RIYADH: Egypt鈥檚 exports rose by 4.6 percent year-on-year in May to reach $4.25 billion, supported by a significant uptick in petroleum products and ready-made garments.

The latest monthly bulletin released by the Central Agency for Public Mobilization and Statistics showed that petroleum product exports rose by 53.5 percent, while overseas sales of ready-made garments climbed by 32.8 percent.

Egypt saw export growth in pasta and various food preparations, up by 21.7 percent, along with raw forms of plastics, which increased by 5.7 percent.

Egypt鈥檚 latest trade figures come amid currency pressures, inflation, and shifting global demand, with policymakers focusing on boosting exports and curbing non-essential imports to stabilize reserves and improve the balance of payments.

The North African nation鈥檚 trade performance reflects broader trends in global commerce as regional economies, including Egypt, work to diversify export markets and enhance manufacturing competitiveness.

Egypt鈥檚 trade deficit narrowed to $3.41 billion in May, down from $4.15 billion in the same month of 2024, according to CAPMAS.

In parallel, imports fell by 6.7 percent to $7.66 billion, compared to $8.21 billion in the previous year, driven by lower purchases across several categories.

Sector highlights

While fertilizer exports declined by 48 percent, and fresh fruit exports dropped by 4 percent, other categories also saw downturns. These included fresh onions, which fell by 3.2 percent, and non-crude petroleum oils, which recorded a 48.3 percent drop.

On the import side, Egypt reduced its purchases of petroleum products by 34 percent, raw materials of iron or steel by 20.3 percent, primary plastics by 15.9 percent, and iron or steel chemical materials by 18.9 percent.

Despite the overall decline in imports, the report highlighted notable increases in some sectors. Natural gas imports surged by 93 percent, while pharmaceutical preparations rose by 19.1 percent. Imports of wood and related products climbed by 17.7 percent, and passenger cars increased by 14.5 percent.

The trade developments come as Egypt continues to implement policies aimed at boosting industrial output and optimizing its trade balance through import substitution and export expansion.


Turkiye and Syria establish joint business council to deepen economic ties聽

Turkiye and Syria establish joint business council to deepen economic ties聽
Updated 06 August 2025

Turkiye and Syria establish joint business council to deepen economic ties聽

Turkiye and Syria establish joint business council to deepen economic ties聽

RIYADH: Turkiye and Syria have agreed to establish a joint business council to foster economic collaboration and facilitate trade and investment between the two countries. 

The new platform will operate under the Foreign Economic Relations Board of Turkiye and aims to strengthen cooperation between public and private sectors, focusing on rebuilding economic ties and supporting Syria鈥檚 reconstruction efforts, the Syrian Arab News Agency, also known as SANA, reported. 

The establishment of the council comes on the heels of growing economic cooperation between Turkiye and Syria. Recently, both countries signed a memorandum enabling direct international road transport, eliminating the need for cargo transshipment at the border. 

This move is expected to streamline trade routes and integrate Syria into regional logistics corridors via the Middle Corridor toward Gulf states. Additionally, as of Aug. 2, Turkiye began supplying Syria with 2 billion cubic meters of natural gas and 1,000 megawatts of electricity, with Azerbaijan and Qatar as partners. 

鈥淚n a joint statement issued in Ankara, the two sides affirmed that the Foreign Economic Relations Board will contribute to strengthening cooperation between the public and private sectors of the two countries,鈥 SANA reported, adding: 鈥淭hey will also work to strengthen Syrian customs gates and their infrastructure, improve procedures at customs gates, and enhance cooperation between the two countries鈥 customs authorities.鈥 

The announcement follows the signing of two key agreements: the Protocol on the Establishment of the Turkiye-Syria Joint Economic and Trade Committee and a Memorandum of Understanding on Cooperation in Administrative Development and Governance. 

These accords are designed to deepen bilateral economic relations by addressing trade volume, investment opportunities, and collaborative infrastructure projects. 

SANA reported that discussions during the Turkish-Syrian roundtable in Ankara focused on 鈥渨ays and mechanisms to develop a roadmap for strategic economic and trade cooperation, which will positively reflect on the economic reality in both countries.鈥  

The agency added that more than 10 agreements were signed between institutions in the two countries. 

The Syrian Minister of Economy and Industry Mohammad Nidal Al-Shaar and the Turkish Minister of Industry and Technology Mehmet Fatih Kacir also signed an agreement to support joint projects, and exchange expertise in the fields of industrial development and modern technology. 

According to Turkiye鈥檚 state-run Anadolu Agency, during the inter-delegation meetings 鈥渃ooperation opportunities in a range of areas, from bilateral trade volume and investments to the reconstruction of Syria and logistics infrastructure projects were discussed.鈥 

Both sides are seeking to build on 鈥渉istorical ties, shared history and culture, and mutual interests between Turkiye and Syria,鈥 the agency reported.