RIYADH: The top senior executives in Saudi business must work together in close coordination to better understand each other’s priorities in the current disruptive digital environment, said
Matthew Kibby, Vice President Enterprise, Africa and Middle East atthe Sage, a British multinational enterprise software company headquartered in Newcastle upon Tyne.
Digital disruption is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services.
Kibby was speaking at a round table hosted here on Wednesday by the Sage Middle East in collaboration with leading industry analyst firm IDC to discuss best practices that bridge the increasingly interrelated functions of the Chief Financial Officers (CFOs) and Chief
Investment Officers (CIOs) as organizations ramp up the adoption of digital technologies
in the Kingdom Under Saudi Vision 2030.
Significantly, digital transformation is a key pillar of the Vision 2030, the national transformation road-map to reform and diversify Saudi economy, and develop various other sectors including health, construction, tourism and education. The event titled the “CFO-CIO Exchange: Building a framework for CFO-CIO collaboration in an era of digital disruption”, explored how technologies impact the CFO’s function, and how CIOs must increasingly collaborate with CFOs to develop business cases for the quick adoption of new technologies.
Speaking at the opening session Kibby said, "Saudi’s grand reform plan targeting the post-oil age will drive digital disruption and technological evolution for all industries in the Kingdom."
" As such, it is imperative that C-Suite business leaders understand and appreciate each other’s business priorities," he said said adding, " the finance function has to embrace digital transformation through big data and artificial intelligence (AI)."
Notably, C-Suite business leader refers to the seniors who get names from the titles of top executives which tend to start with the letter C for chief, as in Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operating Officer (COO), and Chief Information Officer (CIO).
Later speaking to Arab News on their priority and role in line with Vision 2030, Kibby said, " a key priority for us at Sage is to equip enterprises with smarter business software solutions, capable of intuitively helping organizations boost productivity and make better decisions based on
real-time data."
"For us it is very important that we have a valuable market presence in Saudi Arabia, we have a number of customers in the region, we really want to make sure that we are aligned with Saudi Vision 2030 that technology is going to assist in the achievements of local businesses with digital
transformation playing key role in national transformation program," he added.
He further pointed that there is a log list of new technologies which various organizations have started specializing in such as mobility, cloud computing, the internet of things (IoT), robotics, these types of technologies have started to become more and more mainstream and organizations started to impress with these technologies especially what they can deliver to reach expectations in line with Vision 2030.
He added that CFO holds the budget and is basically a business leader and CIO takes the technology decisions, they need to have a collaborative engagement model to the benefit of the organizations, which we are focusing on, it will also be helpful in parting the age gap as well as technology gap between the CFOs and CIOs.
In the second session there was a presentation on the newly introduced value-added tax (VAT), its implementation in the Kingdom and the impact it has had on businesses and industries in the GCC region.
Speaking about VAT and its business implications, Mansoor Sarwar, Director for Technical Services and Pre-Sales, Sage Middle East, said, " the GCC region is still in early stages
of the VAT regime, with only Saudi Arabia and the United Arab Emirates (UAE) having implemented it this year.
The fresh introduction of duties in a region totally unfamiliar with taxes have been a challenge for CFOs, who need to balance performance, efficiency and risk, he added. Aligned with the digital transformation of the economy, CFOs should look to joint decision-making with CIOs, and use digital tools that can help automate most of the VAT process and drive productivity, he noted.
Later Kibby and Sarwar were joined by Ranjit Rajan, Associate Vice President for Research at IDC Middle East, Turkey and Africa, Moazam A Shah, CFO, Al Zamil Group and Hassan Al-Bahes, Chairman of the Institute of Management (IMA,Riyadh Chapter) in a panel that discussed best practices for CFOs and CIOs that align their functions and drive excellence in performance.
Rajan, who earlier made a presentation on navigating digital transformation, moderated the
panel discussion.
The event was attended by about 100 business executives representing various industries.
Sage is the market and technology leader for integrated cloud accounting, payroll, and payment systems, supporting the ambition of entrepreneurs and business builders.
Saudi business heads must coordinate in disruptive digital environment, says tech leader
Saudi business heads must coordinate in disruptive digital environment, says tech leader
Embracing the skies: Riyadh aviation show inspires next generation of pilots
- Saudi Hot Air Balloon Federation’s first female pilot wants more women to sign up
RIYADH: The Saudi Hot Air Balloon Federation was among the top organizations at an aviation show that captivated the Kingdom’s capital with stunning aerobatic displays and an impressive lineup of aircraft.
Sand and Fun 2024, which concluded on Saturday at Thumamah Airport, showcased the Kingdom’s wide-ranging aviation sector.
The federation presented a collection of colorful hot air balloons to demonstrate the experience to adults and younger generations as part of the efforts to raise awareness about hot air ballooning and to inspire a new generation of pilots.
Among the pilots was Afrah Al-Harbi, the first female Saudi hot air balloon pilot to graduate from the federation.
Al-Harbi is on a mission to cultivate a community of female pilots, encouraging women to explore the exhilarating world of hot air ballooning. Her story is an inspiring testament to the opportunities available to women in aviation and the importance of representation in this field.
“At the beginning, I was studying at the university, but the Saudi Hot Air Balloon Federation launched a training program to train balloon pilots,” she told Arab News. “Thank God, I registered, and I was accepted. After that, I started my studies to become a balloon captain. The federation covered the entire mission, which is considered a grant from the federation. I obtained the European EASA license, and then I also obtained the Saudi license from the General Authority of Civil Aviation.”
The federation offers structured programs to equip aspiring pilots with both theoretical knowledge and practical skills.
Hot air balloons first appeared in the Kingdom in AlUla as part of the Winter at Tantora Festival in 2018. This event not only showcased the beauty of ballooning, but also laid the groundwork for the establishment of the federation.
The hot air balloon sport is known and famous worldwide. We need a type of it that people can take part in within the Kingdom, especially for global competitions.
Abdulrahman Al-Wahaibi, Saudi hot air balloon pilot
The organization plays a crucial role in promoting balloon culture and raising awareness of the sport.
“We want to show people that hot air ballooning is not only fun, but also safe,” Al-Harbi said, emphasizing the importance of public perception in the growth of the sport.
Her career has included a visit to the Netherlands, where she underwent extensive training.
“My studies in the Netherlands were quite lengthy, but it was an incredibly enriching experience,” she said. “The training included both theoretical subjects and practical sessions to help us obtain our licenses.”
The rigorous training not only prepared Al-Harbi for the technical aspects of flying, but also instilled a deep appreciation of the art of ballooning.
Abdulrahman Al-Wahaibi also spoke about his journey in the world of hot air ballooning, which began was he was a student in Australia.
“I looked at a balloon for the first time in my life and was fascinated by its shape,” he told Arab News. “I had to try the experience, so I did, as a passenger. The experience was beautiful, and I thought we needed this in Saudi Arabia. At that time, Saudi Arabia did not have hot air balloons.”
Al-Wahaibi dedicated himself to bringing the ballooning experience back to Saudi Arabia, sharing it with family, friends, and the community.
This included studying aerospace engineering and breaking records in Australia for the fastest training period. He expressed pride in being part of the first Arab country to take part in international hot air balloon competitions, highlighting the significant strides made by the Saudi Hot Air Balloon Federation.
“The hot air balloon sport is known and famous worldwide,” Al-Wahaibi said. “We need a type of it that people can take part in within the Kingdom, especially for global competitions.”
His vision aligns with the federation’s mission to broaden participation and elevate the sport on an international level.
Based in AlUla, the Saudi Hot Air Balloon Federation plans festivals designed to integrate the natural environment and the grandeur of the historic landmarks of ancient civilizations such as Hegra.
The five-day event at Thumamah Airport gave visitors the opportunity to meet pilots, learn about the intricacies of ballooning, and even experience the thrill of a balloon ride.
With inspiring pilots such as Al-Harbi and Al-Wahaibi at the helm, the outlook for hot air ballooning in the years to come looks as bright as the skies adorned with colorful balloons.
Saudi ambassador presents credentials to Cypriot president
- Al-Shabili conveyed the greetings of King Salman and Crown Prince Mohammed bin Salman to the president
NICOSIA: Saudi Ambassador to Cyprus Fawaz bin Abdulrahman Al-Shabili presented his credentials to the President of Cyprus Nikos Christodoulides at a ceremony held at the Presidential Palace in the capital Nicosia, the Saudi Press Agency reported on Saturday.
Al-Shabili conveyed the greetings of King Salman and Crown Prince Mohammed bin Salman to the president, as well as their wishes for steady progress and prosperity for Cyprus.
Meanwhile, Saudi Vice Minister of Commerce and CEO of the National Competitiveness Center Eman bint Habbas Al-Mutairi led a Saudi delegation of government officials and business leaders to the UK to bolster bilateral economic relations.
Saudi Arabia to host Qur’an contest in Nepal
- The competition is part of Saudi Arabia’s endeavor to disseminate the teachings of the Qur’an among young Muslims around the world
RIYADH: The Ministry of Islamic Affairs, Dawah and Guidance will hold the second Holy Qur’an Memorization Competition in Kathmandu, the capital of Nepal, on Dec. 21-22.
More than 400 contestants from various Nepalese states and governorates will participate in the preliminary qualifiers, the Saudi Press Agency reported on Saturday.
The competition is part of Saudi Arabia’s endeavor to disseminate the teachings of the Qur’an among young Muslims around the world.
The closing ceremony, which will include the presentation of awards to the winners, will be held on Dec. 23 and will be attended by officials from various centers and schools across Nepal.
Busy bees: Asir’s local markets abuzz over Sidr honey season
- Unique taste, aroma make it popular locally, internationally
RIYADH: The Asir region is currently in the midst of the Sidr honey season, with local markets flooded with high-quality honey produced from the nectar of Sidr trees.
The recent heavy rainfall in the region has led to a prolific flowering of Sidr trees, providing ideal conditions for bees to produce abundant and flavorful honey, the Saudi Press Agency reported.
Sidr honey, which is renowned for its health benefits, is particularly prized for its antioxidant properties and ability to strengthen the immune system.
The unique taste and aroma of the honey have made it a sought-after commodity, both locally and internationally, the SPA reported.
Beekeepers in Tihama Asir have been busy harvesting the golden nectar, with prices ranging from SR350 to SR500 ($93-133) per kg.
The region’s diverse ecosystem, characterized by its fertile valleys and abundant flora, provides an optimal environment for beekeeping.
The Ministry of Environment, Water and Agriculture is actively supporting the development of the beekeeping industry. Initiatives such as the beekeeping and honey production development initiative improve practices, protect bee populations, and enhance the quality of honey.
By promoting sustainable beekeeping and preserving the natural habitats of bees, the Kingdom seeks to strengthen its position as a leading producer of high-quality honey while contributing to the global market.
Saudi Reef Forum to focus on rural sustainability
- Al-Ahsa event to promote communities’ role in economic growth
RIYADH: The Ministry of Environment, Water and Agriculture will host the 1st International Forum for Saudi Reef in Al-Ahsa from Dec. 16-18, aiming to strengthen rural communities, and promote their role in driving sustainable development.
Maha Aldhahi, head of the forum’s executive committee, said: “The forum is pivotal in advancing rural development, aligning with the UN Sustainable Development Goals and Saudi Vision 2030. It will support rural communities, while contributing to global efforts and research on sustainable agriculture.”
Aldhahi said that the forum will unite regional and international experts to address the challenge of rural-to-urban migration, a widespread issue. To counter this, the forum will propose practical solutions to ensure rural areas remain economically viable, vibrant, and sustainable.
Additionally, it will explore innovations in agriculture and rural development, fostering economic growth and social cohesion through job creation and investment promotion, she added.
Aldhahi said that the forum builds on the Saudi Reef Program, recognized by the UN Food and Agriculture Organization as the world’s largest development initiative of its kind.
The program has supported over 77,000 agricultural projects, achieved a self-sufficiency rate exceeding 65 percent in vital sectors, and provided upskilling and career opportunities for rural communities.
Ghassan Bakri, secretary-general of the Saudi Reef Program, said: “The program is a model of sustainable growth, addressing food security and job creation while preserving cultural heritage. By hosting this forum, we aim to attract global partnerships and exchange cutting-edge solutions for rural empowerment.”
Bakri added that the forum will feature dynamic discussions on key topics, including sustainable agricultural practices, rural entrepreneurship, and the role of modern technology in agriculture.
The three-day event will also include an exhibition showcasing unique rural practices, handicrafts, and the work of local farmers, artisans, and entrepreneurs. It will highlight how traditional techniques integrate with modern innovations to create sustainable livelihoods.
