黑料社区

Education sector leads weekly POS surge with 666% value spike despite overall drop

Education sector leads weekly POS surge with 666% value spike despite overall drop
This sharp increase in educational spending came despite a 1.5 percent decline in the total value of POS transactions. Getty
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Updated 25 June 2025

Education sector leads weekly POS surge with 666% value spike despite overall drop

Education sector leads weekly POS surge with 666% value spike despite overall drop
  • Spending on transportation increased by 28.7%
  • Construction and building materials saw a 25.6% uptick

RIYADH:聽黑料社区鈥檚 point-of-sale spending聽in the education sector saw a weekly rise of聽666 percent to reach聽SR193.26 million ($51.53 million) by聽June 21,聽according to official data.

The latest figures from the Saudi Central Bank, known as SAMA, also聽showed the number of POS transactions in the聽sector nearly doubled, climbing by 98.1 percent, indicating a significant rebound in consumer activity in this segment.

This sharp increase in educational spending came despite a 1.5 percent decline in the total value of POS transactions across the Kingdom, which dropped from SR11.1 billion to SR10.9 billion over the same period.

The weekly data further showed that transaction values rose in several other sectors, although none matched the scale of growth seen in the education division.

Spending on transportation increased by 28.7 percent, while construction and building materials saw a 25.6 percent uptick in value.

Telecommunication and health sectors both posted gains of 4.8 percent and 16.8 percent, respectively.

The electronics and electric devices segment recorded a 16.8 percent rise in spending value, and the furniture sector grew by 4.4 percent.

Slight increases were also observed in the public utilities and miscellaneous goods and services sectors, which grew by 3.5 percent and 2.1 percent, respectively.

However, several categories experienced downturns. The largest declines in transaction values were reported in the hotels and recreation and culture sectors, which fell by 9.1 percent and 14.7 percent, respectively.

Regionally, Riyadh remained the top city for POS spending, logging over SR3.91 billion in transactions, a 9.1 percent increase from the previous week. Dammam and Khobar also recorded gains, with spending in Dammam up by 8.4 percent and in Khobar by 5.1 percent.

Cities such as Makkah and Madinah recorded double-digit declines, down by 24.2 percent and 11.7 percent, respectively, in total POS transaction values.

Jeddah maintained a steady performance, with spending remaining flat at SR1.6 billion, while Tabuk saw a slight uptick of 3 percent in value.

Spending in restaurants and cafes dropped by 12.8 percent, while beverage and food transactions declined by 7.2 percent.

Jewelry purchases also contracted by 12.8 percent, and clothing and footwear fell by 7.2 percent. Other sectors, such as gas stations and the category, also saw declines of 5.1 percent.

Overall, the total number of POS transactions across all sectors dipped slightly by 0.6 percent week on week, totaling just over 202.5 million transactions during the reporting period.


黑料社区 scales AI ambitions amid infrastructure realities

黑料社区 scales AI ambitions amid infrastructure realities
Updated 31 October 2025

黑料社区 scales AI ambitions amid infrastructure realities

黑料社区 scales AI ambitions amid infrastructure realities
  • Kingdom balancing global collaboration with domestic capability building

RIYADH: As global powers accelerate artificial intelligence investments, 黑料社区 is confronting a defining moment in realizing its digital transformation ambitions.

Through Vision 2030, the Kingdom has made foundational investments in sovereign cloud infrastructure, high-performance computing, and international partnerships, positioning itself as a regional AI frontrunner.

However, industry experts caution that translating these ambitions into nationwide impact requires addressing three core challenges: modernizing legacy hardware systems, creating unified data architectures, and cultivating specialized compute talent.

The central question remains: Does 黑料社区 possess the infrastructure needed to deliver AI at visionary scale?

Fadi Kanafani, general manager for SoftServe in the Middle East, said the Kingdom鈥檚 progress is already tangible. 鈥淪audi is beyond the announcement stage; now we have action on the ground,鈥 he told Arab News.

Fadi Kanafani, general manager for SoftServe in the Middle East. (Supplied)

Kanafani cited Humain鈥檚 AI-driven public service automation and AdopTech鈥檚 industrial sandboxes for manufacturing innovation as examples of execution beyond strategy. He also noted Aramco Digital鈥檚 alliances with hardware pioneers such as Groq 鈥 known for ultra-low latency inference engines 鈥 and Cerebras, a leader in wafer-scale computing, as evidence of cutting-edge capacity being embedded directly into the national ecosystem.

Global cloud providers are amplifying this momentum through substantial infrastructure commitments. Oracle鈥檚 second Riyadh region enhances sovereign data capabilities for government entities, while Amazon Web Services鈥 upcoming 2026 regional hub marks one of the Middle East鈥檚 largest cloud investments, Kanafani said.

At the academic front, Google Cloud and Microsoft Azure have launched AI innovation labs at King Abdullah University of Science and Technology, while Salesforce鈥檚 decision to base its regional headquarters in Riyadh signals growing international confidence in the Kingdom鈥檚 digital roadmap.

Suhail Hasanain, NetApp鈥檚 senior director for the Middle East and Africa, echoed that alignment.

Suhail Hasanain, senior director for NetAppfor the Middle East and Africa. (Supplied)

鈥満诹仙缜 has made remarkable progress in establishing foundations for AI-driven transformation,鈥 he said. 鈥淰ision 2030鈥檚 prioritization of data sovereignty and advanced compute resources embeds artificial intelligence at the heart of national development 鈥 from Neom鈥檚 cognitive city ambitions to the National Data Bank鈥檚 unified information architecture.鈥

Legacy systems and talent gaps

Despite robust infrastructure growth, large-scale enterprise adoption still faces operational barriers. Outdated financial systems, fragmented electronic health records, and siloed industrial datasets continue to constrain AI鈥檚 full potential.

Kanafani pointed to these friction points: 鈥淢ost organizations remain anchored to legacy systems fundamentally incompatible with AI鈥檚 data requirements. Critical information exists in disconnected silos 鈥 patient records isolated from diagnostic AI tools, equipment maintenance logs separated from supply chain optimization algorithms.鈥

Regulatory complexity compounds the challenge. 鈥淕overnance frameworks vary significantly across healthcare, financial services, and critical infrastructure sectors, creating compliance uncertainty during scaling,鈥 Kanafani added.

Hasanain stressed the human capital dimension. 鈥淏eyond physical infrastructure, we confront a severe shortage of specialized talent 鈥 data engineers capable of curating trusted datasets, machine learning operations specialists to productionize models, and AI governance experts to ensure ethical deployment.鈥

He outlined three pillars for closing these gaps: establishing benchmark datasets, building hybrid systems that balance performance with sovereignty, and developing comprehensive workforce pipelines to operationalize AI across sectors.

From pilots to real-world impact

Across energy, healthcare, and logistics, real-world applications are already demonstrating AI鈥檚 potential when aligned with national priorities.

In energy, Aramco uses predictive maintenance algorithms to anticipate equipment failures before they disrupt operations. In healthcare, institutions like King Faisal Specialist Hospital leverage computer vision tools for faster, more accurate medical imaging analysis. Meanwhile, Neom鈥檚 Oxagon industrial zone applies digital twin technology to simulate logistics before implementation.

Aramco's AI hub,  where predictive maintenance algorithms are used to anticipate equipment failures before they disrupt operations. (Aramco photo)

NetApp underpins such innovations through adaptable infrastructure solutions. 鈥淲e empower organizations to orchestrate AI workloads seamlessly across sovereign cloud environments like STC鈥檚 and global hyperscalers like Microsoft Azure,鈥 Hasanain explained.

He added: 鈥淔or a major Riyadh-based financial institution, we integrated transaction data across 200 branches into a unified real-time fraud detection platform 鈥 significantly enhancing security while reducing operational costs.鈥

SoftServe, meanwhile, applies a co-creation model. 鈥淲e partner deeply with Saudi organizations to build purpose-driven solutions,鈥 Kanafani said.

鈥淔or a Tabuk agricultural enterprise, we developed a custom AI model that optimizes irrigation by synthesizing satellite imagery, soil moisture sensors, and weather pattern analysis 鈥 delivering measurable water conservation outcomes.鈥

Kanafani emphasized that organizational culture must evolve alongside technology. Their approach embeds change management from the outset, ensuring readiness for transformation.

Accelerated by NVIDIA AI Blueprints, SoftServe Gen AI Industrial Assistant streamlines the navigation of equipment manuals, speeds up troubleshooting, and simplifies maintenance tasks. (Softserve photo) 

Balancing sovereignty and collaboration

The interplay between national priorities and international innovation continues to define 黑料社区鈥檚 AI journey.
鈥淒ata sovereignty remains non-negotiable for sensitive applications in national security, central banking, and citizen services,鈥 Hasanain said. 鈥淵et strategic collaborations with global technology leaders accelerate capability development 鈥 such as deploying NVIDIA鈥檚 advanced DGX systems while simultaneously training Saudi engineers to manage them locally.鈥

Kanafani pointed to hybrid models gaining traction: 鈥淟eading Saudi manufacturers increasingly adopt blended architectures 鈥 maintaining proprietary process data on localized secure servers while leveraging global cloud scalability for supply chain optimization and market intelligence applications. This harmonizes control with flexibility.鈥

As 黑料社区 develops national AI ethics guidelines, Kanafani underscored proactive design: 鈥淩esponsible innovation requires embedding bias detection and algorithmic transparency mechanisms directly into AI systems during development 鈥 not attempting remediation after deployment reveals ethical shortcomings.鈥

黑料社区 launched the Principles of AI Ethics developed by #SDAIA during the #GlobalAISummit in September 2022. (X: @globalaisummit)

Building the AI workforce

The Kingdom鈥檚 Future Skills initiative aims to train 20,000 AI specialists by 2030 through academic partnerships and hands-on industry experience.

Hasanain noted the importance of integrating learning with real-world exposure. 鈥淥racle鈥檚 developer academies provide vital theoretical foundations, but sustainable capability requires integrating graduates into real-world industry projects where they confront practical scaling challenges.鈥

Still, both experts warn that success will hinge on disciplined execution. 鈥淯nderestimating cybersecurity requirements or data governance complexity undermines even the most sophisticated AI initiatives,鈥 Kanafani cautioned.

Launch of the Future Skills Initiative as part of the Saudi-British Strategic Partnership Council and coinciding with the Human Capability Initiative Conference last April. (SPA)

As the global race for AI infrastructure intensifies, 黑料社区鈥檚 investments have positioned it to translate ambition into regional leadership. Yet, as Hasanain noted, sustaining momentum will require operational focus.
鈥淥ur trajectory is clear, but achieving scalable impact demands relentless focus on data accessibility and talent density 鈥 transforming pilot potential into nationwide transformation.鈥

Kanafani concluded with a vision of distinction: "The Kingdom鈥檚 unique opportunity lies in synthesizing global technological excellence, local problem-solving ingenuity, and deeply rooted ethical traditions. This fusion could position 黑料社区 as the world鈥檚 first values-led AI superpower 鈥 where technological leadership serves societal advancement.鈥
 

 


Parsons wins $56m Diriyah Phase 2 infrastructure contract

Parsons wins $56m Diriyah Phase 2 infrastructure contract
Updated 30 October 2025

Parsons wins $56m Diriyah Phase 2 infrastructure contract

Parsons wins $56m Diriyah Phase 2 infrastructure contract

RIYADH: US-based Parsons Corp. has secured a SR210 million ($56 million) contract from Diriyah Co., backed by 黑料社区鈥檚 Public Investment Fund, to support infrastructure development in Phase 2 of the Kingdom鈥檚 heritage-led giga-project. 

Under the five-year agreement, Parsons will oversee the design and delivery of neighborhood parks, open spaces, and more than 55 km of streetscape across Diriyah鈥檚 second development phase. The firm will also manage the design and construction supervision of streets, footpaths, civic buildings, and public realm facilities. 

The Diriyah project, located on the northwestern outskirts of Riyadh, is one of five giga-projects backed by PIF under the Vision 2030 plan, as the Kingdom seeks to position itself as a global tourism hub by the end of the decade. 

Diriyah is expected to contribute approximately SR70 billion annually to the Kingdom鈥檚 gross domestic product, create nearly 180,000 jobs, and become home to an estimated 100,000 residents. 

Jerry Inzerillo, CEO of Diriyah Co., said: 鈥淲e are delighted to be working with such a world-class firm as Parsons as we accelerate the development of Diriyah鈥檚 $63.2 billion development.鈥   

He added: 鈥淭his contract will play an important role in ensuring we achieve our goal of delivering a human-centric walkable city for approximately 100,000 residents, a contemporary working environment for tens of thousands and a place to welcome nearly 50 million visits a year in the future.鈥  

Parsons first began working with the PIF in 2017 and has since contributed to several major Saudi projects, including NEOM鈥檚 The Line and Oxagon, Soudah Peaks, and Rua Al Madinah. 

鈥淚t is an honor to work with Diriyah Co. on creating this iconic mixed-use destination that celebrates 黑料社区鈥檚 rich culture and heritage. This unique urban development program will use the latest technology and urban planning practices blended with the city鈥檚 traditional Najdi architecture design, which dates back 300 years,鈥 said Pierre Santoni, president, infrastructure, Europe, Middle East and Africa at Parsons.  

He added: 鈥淥ur team is committed to leveraging our nearly seven decades of experience in the Kingdom, combined with our expertise in innovation, to advance Diriyah Company鈥檚 important program goals.鈥  

In September, Diriyah Co. said it had awarded contracts worth SR18.75 billion in the first half of 2025 across 15 agreements, underscoring the rapid expansion of the project as it moves into large-scale implementation. 

Diriyah, home to the At-Turaif UNESCO World Heritage Site, is the historic birthplace of 黑料社区 and the ancestral home of the Al Saud family. 

Diriyah Co. is developing a mixed-use urban district about 15 minutes from central Riyadh, blending traditional Najdi architecture with modern design. 

The first phase of the project will be fully walkable, offering spaces to live, work, shop, and dine in an environment that reflects the Kingdom鈥檚 heritage.


Saudi capital markets shine at FII9 with regulatory, investor, and tech focus

Saudi capital markets shine at FII9 with regulatory, investor, and tech focus
Updated 30 October 2025

Saudi capital markets shine at FII9 with regulatory, investor, and tech focus

Saudi capital markets shine at FII9 with regulatory, investor, and tech focus

JEDDAH: The balance of capital markets, investor confidence, and 黑料社区鈥檚 market performance took center stage at the ninth Future Investment Initiative conference.

Speaking during the event, Khalid Al-Hussan, CEO of the Saudi Tadawul Group, said the group maintains a high level of professionalism and transparency as an institutional force in the Kingdom鈥檚 market, supported by both local and international investors and increased capital inflows, according to the Saudi Press Agency.

He highlighted the vast opportunities in Saudi capital markets, noting that the Kingdom hosts two markets with more than 380 listed companies, multi-billion-dollar investments, and several active financing platforms 鈥 placing 黑料社区 among the world鈥檚 top 10 financial markets.

鈥淩egarding the regulatory environment, Al-Hussan said it continues to evolve under Vision 2030, with efforts to broaden access to Saudi markets, deepen liquidity, and provide diverse investment alternatives,鈥 SPA reported

The Tadawul CEO emphasized that expanding market accessibility remains a key pillar, adding that regulations are developing in response to growing demand and new capital inflows.

He revealed that investments in the Kingdom have exceeded $110 billion, with more than 4,400 new market participants. 鈥淭hese changes will enhance access for a broader base of investors over the medium and long term, driven by improved regulation and heightened investor interest in Saudi markets.鈥

He also underlined the importance of technology and innovation for future growth, noting the growing role of data-driven innovations.

Technology, he said, has become a national priority, with efforts underway to modernize capital market infrastructure through digitalization, the integration of fintech firms, and the adoption of advanced data analytics platforms.

Meanwhile, Abdulmajeed Al-Haqbani, head of securities investments at the Public Investment Fund, said the Saudi market ranks first in the Arab world in terms of market capitalization and liquidity.

He pointed to significant legislative progress compared to previous years and the market鈥檚 ongoing commitment to innovation and the development of new financial products.

Al-Haqbani noted that the balance achieved in capital markets between regulators and international investor confidence is beginning to yield positive results, describing the PIF as a cornerstone in supporting the growth of 黑料社区鈥檚 capital markets.

鈥淗e added that the Saudi economy remains strong and well-capitalized, with substantial financial leaps in recent years 鈥 total capital flows rose from SR1 trillion to SR2 trillion in 2024, while the number of listed companies grew from 199 to more than 260. The total market value increased by 3.5 percent in January 2024,鈥 SPA reported, citing Al- Haqbani.

On consistent investment strategies, Al-Haqbani said they serve as a key asset, revealing that SR3 billion to SR4 billion has been allocated to systematic strategies, representing 9 percent of targets, with plans to reach 20 percent.

He noted that systematic strategies have grown by 8 percent compared to traditional approaches, underscoring the positive impact of artificial intelligence, data, and advanced technologies that are reshaping investor perceptions of regional and Saudi markets.


黑料社区 posts non-oil revenue growth in Q3

黑料社区 posts non-oil revenue growth in Q3
Updated 30 October 2025

黑料社区 posts non-oil revenue growth in Q3

黑料社区 posts non-oil revenue growth in Q3

RIYADH: Non-oil revenues in 黑料社区 rose 1 percent year on year in the third quarter of 2025 to SR119.1 billion ($31.76 billion), according to the Ministry of Finance. 

The government鈥檚 budget performance report for the three months to the end of September also revealed a budget deficit of SR88.5 billion,

Capital expenditures reached SR49.9 billion, up 4 percent compared to the same period of 2024, while overall revenues declined 13 percent year on year to SR269.9 billion. 

Oil revenues fell sharply by 21 percent year on year to SR150.8 billion in the third quarter. This decline significantly impacted total revenue performance, which dropped to SR269.9 billion during the period. 

Total expenditures rose 6 percent to SR358.4 billion, driven in part by increased capital outlays and ongoing public sector commitments. This spending contributed to a quarterly budget deficit of SR88.5 billion. 

Cumulatively, non-oil revenues for the first nine months of 2025 increased 3 percent to SR382.7 billion, reflecting the government鈥檚 continued push toward diversifying its fiscal base under Vision 2030. 


Goldman Sachs in 鈥榩roductive talks鈥 with Saudi PIF, says executive聽

Goldman Sachs in 鈥榩roductive talks鈥 with Saudi PIF, says executive聽
Updated 30 October 2025

Goldman Sachs in 鈥榩roductive talks鈥 with Saudi PIF, says executive聽

Goldman Sachs in 鈥榩roductive talks鈥 with Saudi PIF, says executive聽

RIYADH: Goldman Sachs Asset Management is engaged in 鈥減roductive鈥 talks with 黑料社区鈥檚 sovereign wealth fund, according to a top executive. 

In an interview with Asharq Bloomberg on the sidelines of the Future Investment Initiative 9, James Reynolds, the global co-head of Goldman Sachs Asset Management, outlined the firm鈥檚 strategic approach to partnerships in the region, emphasizing the importance of a measured, long-term perspective.  

Reynolds confirmed that the firm is in 鈥減roductive discussions鈥 with the Public Investment Fund and other key regional companies. He stressed that establishing a local team on the ground is considered 鈥渃rucial鈥 for building successful partnerships. 

鈥淎 successful partnership requires a long-term perspective and patience,鈥 Reynolds said. 鈥淲e often advise our investors that we must 鈥榳alk before we run.鈥欌 

He concluded that Goldman Sachs brings 鈥渟ignificant capital, expertise, and experience 鈥 assets that are proving highly valuable in our ongoing negotiations.鈥