MBSC amplifies Saudi Vision 2030 at LEARN 2024

MBSC amplifies Saudi Vision 2030 at LEARN 2024
The college engaged with attendees through multiple channels, including a dedicated booth.
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Updated 15 October 2024
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MBSC amplifies Saudi Vision 2030 at LEARN 2024

MBSC amplifies Saudi Vision 2030 at LEARN 2024

Prince Mohammed bin Salman College of Business and Entrepreneurship, the Kingdom’s world-class business school, participated in the inaugural LEARN event, which took place in Riyadh on Oct. 6 and 7.

MBSC secured a prominent spot in the event as a silver sponsor, illustrating its dedication to empowering the youth to be active participants in shaping the future landscape and cultivating the next generation of leaders. The college engaged with attendees through multiple channels, including a workshop, two panel discussions and a dedicated booth that provided detailed information on its world-class education programs.

Dr. Joel Evans, associate professor of management and academic director of the Executive MBA Program at MBSC, joined a panel discussion on the first day of the event, under the theme “Developing Global Minds, Education, and Skills for the Modern World.” On the second day, Dr. Muhammad Azam Roomi, professor of entrepreneurship at MBSC, contributed thought-provoking insights to the panel discussion “Evolving Leaders for a Changing World: A New Paradigm for Executive Education.”

The workshop “How to Master Business Concepts through Case Studies,” led by Dr. Khaldoon Al-Htaybat, professor of accounting at MBSC, emphasized the significance of case studies in facilitating critical thinking and exploring the application of theory to real-world scenarios that address the complexities of the modern experience economy. Notably, MBSC is home to the Kingdom’s first case center.

Dr. Zeger Degraeve, dean of MBSC, said: “We feel delighted to be involved in progressive initiatives such as LEARN, that resonate perfectly with Saudi Vision 2030. The Human Capability Development Program is an integral part of Saudi Vision 2030, promoting education from early childhood through lifelong learning opportunities for individuals to reach their greatest potential. MBSC embraces this pillar, recognizing that education is the cornerstone of economic prosperity. We are dedicated to cultivating a future-ready workforce by providing high-quality, market-driven education that equips students with the skills and knowledge necessary to succeed in a dynamic global economy.”

Inspired by the lifelong learning journey, LEARN serves as a new platform for innovative thought, creative solutions and crucial debate in response to critical global educational challenges. The two-day conference and exhibition brought together the regional and global education community, as well as key stakeholders, visionaries, disruptors and policymakers, to exchange ground-breaking ideas and stimulate positive change.

Situated in King Abdullah Economic City, a contemporary urban center that provides an unparalleled modern environment for both students and faculty, MBSC offers world-class education “from Saudi Arabia for Saudi Arabia” in both KAEC and Riyadh, delivering practical, pragmatic, hands-on experiential learning to develop a new generation of transformative leaders.


Stellar launches as catalyst to transform education in KSA

Stellar launches as catalyst to transform education in KSA
Updated 03 February 2025
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Stellar launches as catalyst to transform education in KSA

Stellar launches as catalyst to transform education in KSA

Stellar, a newly established independent education solutions provider, marked its official launch with two private events in Riyadh and Jeddah. Emerging from Emkan Education’s Cambridge department, Stellar represents a new chapter in delivering innovative, reliable, and impactful education services to empower learners, educators, schools and institutions across the Kingdom.

The launch events celebrated Stellar’s mission of “Education Beyond Limits,” a vision deeply aligned with Saudi Arabia’s Vision 2030, which emphasizes educational transformation and the development of a globally competitive workforce.

Prominent figures attended the events to lend their support to this milestone. In Riyadh, Dr. Ahmed Al-Aqeel of Downe House, Dr. Ibrahim Alfarhan, general manager of international education at Ataa Educational Company, and Dr. Asmaa Al-Qadi from Al-Tarbyah Al-Islamyah Schools, joined the celebration, commending Stellar’s efforts to bridge gaps in knowledge and create opportunities for success.

The Jeddah event welcomed Arwa Alkheriji of Al-Andalus Education Company, Wafa Ashmawi of Maarif, and Siham Ouri, education adviser at the US Consulate, who highlighted the value of global collaboration in fostering local educational advancements.

Stellar builds upon Emkan Education’s decade-long journey and values of empowering schools, educators, and learners. Now an independent entity, Stellar is poised to expand its reach as a partner who can provide comprehensive, tailored support across every aspect of education. A wide range of services will be offered that cater to the unique needs of schools, teachers, and students, with the support of expert partners who share the same values.

Central to Stellar’s success is its strong network of partnerships, including collaborations with renowned organizations such as Cambridge International, Aanaab, and Transform International.

During the events, Stellar recognized the contributions of its four ambassadors: Ann Philip from Reigate Grammar School Riyadh, Asma Al-Qunaisi from AlKuttab Company, Wafaa Ashmawi from Maarif Education Company, and Mohammed Eissa from AlKhandaq International School. Their heartfelt testimonials highlighted Stellar’s profound impact on their institutions and its role in driving educational excellence. Activities such as storytelling sessions and networking opportunities further enriched the celebrations, emphasizing the values of collaboration, leadership, and continuous improvement.

Khulood Eshaq, Stellar’s CEO, said during the launch: “Stellar is not just a provider; we are a trusted partner committed to education beyond limits. Our work aligns with the Human Capital Development Program, contributing to Saudi Arabia’s Vision 2030 by driving excellence and inspiring lifelong learning.”

The Stellar launch events concluded with an invitation for schools, educators, and stakeholders to join its mission of transforming education.


Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’
Updated 03 February 2025
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Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank, a leading financial institution in the Kingdom, has been honored by Global Finance as the “Best Trade Finance Provider” in Saudi Arabia for 2025.

The prestigious award marks the fifth consecutive year SAB has received this recognition since its landmark merger, further solidifying its reputation as the foremost trade finance institution in the Kingdom and reflecting its remarkable performance in 2024.

The award is based on a comprehensive evaluation of several key factors, including transaction volumes, global coverage, customer service excellence, competitor benchmarking, and the adoption of innovative technologies. Feedback from multinational decision-makers worldwide and insights from industry analysts and corporate executives underscored SAB’s ability to consistently outperform competitors and maintain a strong position in the competitive trade finance sector.

Yasser Al-Barrak, chief corporate and institutional banking officer at SAB, said: “This award reflects the unwavering dedication, hard work, and collaboration of numerous departments across SAB in addressing our clients’ complex and evolving needs. Our success is driven by the expertise of our teams, our innovative solutions, exceptional service, and global reach through our partnership with HSBC.”

He added: “We are also committed to providing the best services and projects that support development and promote economic growth to achieve the goals of Saudi Vision 2030.”

SAB’s product and service offerings and its steadfast commitment to client satisfaction have positioned it as a vital driver of trade within the Kingdom.

Despite a dynamic business environment, SAB continues to deliver tailored solutions that meet the unique needs of both local and multinational clients. This adaptability and innovation have enabled the bank to sustain robust performance metrics and reaffirm its status as a preferred provider of both conventional and Islamic trade finance solutions.

Today, as a leader in trade finance, SAB is aligned with Saudi Arabia’s Vision 2030 goals, striving to enhance the Kingdom’s economic growth and positioning itself as a key player in the global financial landscape.


Saudi firms yet to fully embrace AI: Cisco survey

Saudi firms yet to fully embrace AI: Cisco survey
Updated 02 February 2025
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Saudi firms yet to fully embrace AI: Cisco survey

Saudi firms yet to fully embrace AI: Cisco survey

Ahead of the LEAP 2025 conference in Riyadh, Cisco announced findings from its latest AI Readiness Index, which reveals that 72 percent of organizations in the Kingdom have a strategy to deploy AI powered solutions in their organization. The report highlights that despite increasing urgency in deployment and investment, businesses in Saudi Arabia face challenges in adopting, deploying, and fully leveraging AI, amid the rapid market evolution and the significant impact AI is anticipated to have on business operations.

The index is based on a double-blind survey of 7,985 senior business leaders from organizations with 500 or more employees across 30 markets, including Saudi Arabia. These leaders are responsible for AI integration and deployment within their organizations. The AI Readiness Index is measured across six pillars: strategy, infrastructure, data, governance, talent, and culture.

Key findings include:

Acting with urgency

AI has become a cornerstone for business strategy, and there is an increasing urgency among companies to adopt and deploy AI technologies. In the Kingdom, nearly all (98 percent) report an increased urgency to deploy AI in the past year, primarily driven by the CEO and leadership team. Nearly all (86 percent) companies say they only have 18 months to start demonstrating the impact of AI. More than half (60 percent) give it only 12 months.

Rising investment

Over the past year, AI has been a priority spend for organizations in Saudi Arabia, with 50 percent allocating 10-30 percent of their IT budgets to AI projects. AI investments have focused on three strategic areas: IT infrastructure (51 percent), cybersecurity (40 percent), and data management (38 percent). The top three outcomes they aim to achieve include improving the efficiency of systems, processes, operations, and profitability; the ability to innovate and remain competitive; and creating a better experience for customers and partners. 

Salman Faqeeh, managing director, Cisco Saudi Arabia

Infrastructure gaps

Networks are yet to be equipped to meet AI workloads. There are gaps in compute, data center network performance, and cybersecurity, among other areas. Only 31 percent of organizations have the necessary GPUs to meet current and future AI demands and nearly a third (34 percent) have the capabilities to protect data in AI models with end–to–end encryption, security audits, continuous monitoring, and instant threat response. In Saudi Arabia, 62 percent rated improving scalability, flexibility, and manageability of their IT infrastructure as their top priorities, showing they are aware of the gaps that need to be addressed.

Skills development

A lack of skilled talent is a top challenge for companies in Saudi Arabia, underscoring the critical need for skilled professionals to drive AI initiatives. Only 46 percent of Saudi organizations claim their talent is at a high state of readiness to fully leverage AI, and 39 percent say their organizations lack in-house talent necessary for successful AI deployment.

Salman Faqeeh, managing director, Cisco Saudi Arabia, said: “Saudi Arabia is at the forefront of embracing AI as a catalyst for digital transformation. The findings of Cisco’s recent AI Readiness Index highlight the significant strides organizations in the Kingdom are making, with clearly defined strategies and increasing investments in AI. At Cisco, we are committed to empowering organizations with cutting-edge technologies and expertise to realize the full potential of AI.”

He added: “Our participation at LEAP 2025 under the theme ‘Cisco Connects and Protects the AI Era,’ underscores our dedication to promoting innovation and collaboration in the country, in alignment with the Kingdom’s Vision 2030 goals.”

This year, Cisco’s participation at LEAP 2025 centers around connecting and protecting businesses in the AI era. Visitors will have the opportunity to engage with subject matter experts at Cisco’s booth and explore innovative solutions designed to transform data centers to power AI workloads, modernize workplaces for seamless collaboration, and enhance digital resilience with advanced security and observability.


Honeywell, Petro Rabigh sign MoU to license NEP technology

Honeywell, Petro Rabigh sign MoU to license NEP technology
Updated 02 February 2025
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Honeywell, Petro Rabigh sign MoU to license NEP technology

Honeywell, Petro Rabigh sign MoU to license NEP technology

Under the patronage of the Ministry of Energy, Petro Rabigh and Honeywell have signed a memorandum of understanding to explore the deployment of Honeywell UOP’s naphtha-to-ethane-and-prop technology. The signing ceremony was sponsored by Assistant Minister for Development and Excellence at the Ministry of Energy Ahmed Al-Zahrani, reaffirming the Kingdom’s commitment to fostering innovation and sustainability in the energy sector.

The non-binding MoU represents a significant milestone in leveraging advanced technologies to transform butane and naphtha into high-value feedstocks for light olefin production, such as ethylene and propylene.

This collaboration will demonstrate and commercialize the innovative NEP technology, enhancing productivity, operational efficiency, and sustainability through the production of value-added petrochemical products from crude oil. The initiative aligns with the goals of Saudi Vision 2030 to drive innovation in the energy sector, promote liquid-to-chemical processes, and improve energy efficiency and economic resilience.

Petro Rabigh is the largest integrated refinery and petrochemical complex in Saudi Arabia, producing fuels and high-value petrochemical products. 

Honeywell has been a key player in the region for more than 70 years, delivering cutting-edge solutions and actively contributing to the government’s vision of advancing technology adoption and development efforts.


Latest Rasanah report offers deep dive into current geopolitical crises

Latest Rasanah report offers deep dive into current geopolitical crises
Updated 02 February 2025
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Latest Rasanah report offers deep dive into current geopolitical crises

Latest Rasanah report offers deep dive into current geopolitical crises

The International Institute for Iranian Studies, known as Rasanah, has released its 2024-2025 Annual Strategic Report titled "Globalization of Crises and Complexity of Conflicts," providing an in-depth analysis of the geopolitical landscape shaping 2025.

The report documents the complexities of significant conflicts, offering insights into potential scenarios for the coming year, an official statement explained. It broadens its scope to include new geopolitical arenas, offering a detailed look at how traditional and emerging powers navigate the shifting sands of international influence.

Rasanah critically examines the ineffectiveness of UN bodies in conflict resolution and the impact of regime changes in the Middle East, which has emerged as a focal point of volatility and transformation.

Through four comprehensive sections, Rasanah provides insights into international developments, regional shifts and Saudi policy trends as well as the ebb and flow of Iranian regional and international influence.

Saudi Arabia's Strategic Positioning

Highlighting Saudi Arabia's alignment with Vision 2030, the report praises the Kingdom's efforts to bolster its regional and global standing.
The report discusses Saudi policies and responses to challenges with a resilient vision, including the Saudi response to Arab and regional developments and Saudi Arabia’s position amid global shifts.
According to the report, Saudi Arabia will continue its support of the future of the Middle East, including the Gulf region, by cooperating with its regional and international allies to de-escalate tensions and end conflicts in the region.
The Kingdom will likely mediate major regional thorny issues between different countries with the aim to restore stability and security to the Middle East.

Global Developments

The section on global developments dissects the interactions among major powers, the economic implications of these interactions, and the ongoing Russia-Ukraine conflict, now described as a war of attrition. It also delves into non-traditional security issues as well as the evolving religious landscape in the Islamic world.

Regional Developments

2024 saw intensified geopolitical rivalry in the Middle East, with Israel and Iran particularly vying  to establish a new paradigm of regional deterrence and conflict. The Gulf states have adopted a stance of positive neutrality, while Turkiye has pursued new strategies for regional and international benefits.
The report notes that in contrast, Africa continued to grapple with instability, fueled by internal crises and external interventions. The crisis in Bangladesh further reverberated across South Asia.

It forecasts continued geopolitical evolution into 2025, with Iran likely struggling to reclaim its previous influence.

Iran's Strategic Reassessment

In 2024, Iran underwent critical political, economic, social and military shifts that significantly influenced its domestic and foreign policy strategies.
Regionally, Iran faced unprecedented challenges, particularly in Syria and Lebanon, prompting a reevaluation of its traditional geopolitical strategies amid diminishing influence.
On the international stage, Iran’s diplomatic relations with both global and regional powers experienced notable shifts, impacting its strategic leverage and laying the groundwork for potential implications as it moves into 2025.

Rasanah's report not only maps out the intricate web of global and regional conflicts but also provides a sobering forecast for 2025, emphasizing the need for strategic foresight and international cooperation to navigate the complexities of modern geopolitics.

This comprehensive analysis, supported by robust data and scenario planning, serves as a critical tool for policymakers, scholars, and anyone interested in understanding the dynamics of global politics in an era marked by crises and complex conflicts.