Saudi Arabia’s new policies can tackle drop in oil prices: study

The KAPSARC paper found that the Saudi fiscal initiatives play a vital role in keeping the non-oil sector at the heart of the country’s economic development. (Twitter photo)
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Updated 05 March 2020
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Saudi Arabia’s new policies can tackle drop in oil prices: study

A KAPSARC study has revealed that the drop in oil prices after 2012 did not create any structural break in either the long- or short-run relationship of the non-oil GDP with the government’s current and capital expenditure.

The KAPSARC paper found that the Saudi fiscal initiatives play a vital role in keeping the non-oil sector at the heart of the country’s economic development.

The study showed that a 1 percent increase in the current and capital expenditure can lead to 0.3 percent and 0.02 percent increases, respectively, in non-oil sector, which can also be added-value in the long term, while the rise of 1 percent in the contemporaneous growth rates of the current and capital expenditure is associated with 0.13 percent and 0.01 percent increases, respectively, in the non-oil GDP growth in the short run.

The study presented positive effects of labor and capital on the non-oil GDP, showing that a 1 percent rise in both labor and capital each increase the non-oil GDP by an average of 0.51 percent and 0.26 percent, respectively, in the long term.

According to “The Impact of Fiscal Policy on Non-Oil GDP in Saudi Arabia,” the Kingdom implemented a bunch of initiatives, and took adequate measures to raise its capability in reshaping its development plan outside the oil sector.  

These initiatives include energy allowances and other subsidies, private sector development plans, including soft loans to boost economic growth, the implementation of giga projects and the Saudi Vision 2030 realization programs.

Researchers from KAPSARC recommended five policies that would help to achieve Vision 2030 objectives. These are: Focusing on developing human capital by investing in education and vocational training; involving private sector in capital projects; applying more governance reforms to boost productivity; using the fiscal space to support the development of Saudi Arabia’s non-oil economy in the short and long run; and improving the Kingdom’s business environment for domestic and foreign investments.

KAPSARC is a non-profit global institution dedicated to independent research into energy economics, policy, technology, and the environment across all types of energy. The center is focused on finding solutions for the most effective and productive use of energy to enable economic and social progress nationally, regionally, and globally.


Honor Magic7 Pro arrives in MEA, showcasing power of AI

Updated 19 January 2025
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Honor Magic7 Pro arrives in MEA, showcasing power of AI

Honor has launched the Magic7 Pro in Saudi Arabia and Dubai, featuring advanced AI capabilities that enhance photography, display quality, and hardware performance. The device comes with the Google Gemini app pre-installed, offering AI assistance for various tasks. George Zhao, CEO of Honor, highlighted the integration of on-device and cloud AI capabilities for a more intuitive and secure user experience. Honor also announced its partnership with Louvre Abu Dhabi for the exhibition “Kings and Queens of Africa: Forms and Figures of Power.”

Revolutionary photography

The Magic7 Pro boasts an advanced AI Falcon Camera System with a 50 MP Super Dynamic Main Camera, 50 MP Wide Camera, and 200 MP Telephoto Camera. The AI Honor Image Engine, the industry’s first mobile imaging system with Hybrid AI Large Models, provides sophisticated photography features, including AI Super Zoom, AI Motion Sensing Capture, and HD Super Burst.

Smart lifestyle

The Magic7 Pro offers a personalized interface with enhanced Magic Portal2 capabilities, supporting various applications. Gemini’s overlay provides quick access to Google AI assistance. The device includes AI Translation, Honor Notes with AI Summary, and AI Minutes for productivity. AI Dual-way Noise Reduction ensures clear communication. 

Unrivaled battery life

Powered by the Snapdragon 8 Elite Mobile Platform, the Magic7 Pro features AI Real-Time Rendering technology for PC-level graphics and responsive gaming. 

The 5,850 mAh silicon-carbon battery supports fast recharging with 100 W wired and 80 W wireless Honor SuperCharge. The device also includes a stereo speaker with enhanced bass and the Natural Light Honor AI Eye Comfort Display.

Availability

Pre-orders for the Magic7 Pro in the Kingdom have started at SR3,999 ($1,065), available in Lunar Shadow Grey, Breeze Blue, and Black. 

Pre-order customers get a package worth SR1,998, including the Honor Watch4 Pro (SR1,099) and Honor VIP Care+ (SR899) with 180 days replacement, 365 days screen protection, and four screen film replacements in 12 months.


Elm showcases smart solutions for pilgrims

Updated 19 January 2025
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Elm showcases smart solutions for pilgrims

Elm, a digital solutions pioneer, concluded its participation as the strategic sponsor of the Hajj Conference and Exhibition 2025, held recently in Jeddah. 

The company showcased a wide range of technological and smart solutions to enhance the experience of Hajj and Umrah pilgrims, further simplifying the pilgrimage rituals and creating an innovative digital environment that provides the highest level of convenience for the guests of the two holy mosques.

Elm exhibited the “Smart Assistant for the Guests of the Two Holy Mosques,” an advanced AI-powered assistant designed to provide an interactive and seamless experience for Hajj and Umrah visitors, using voice and text, further streamlining and expediting responses to their inquiries in multiple languages. Furthermore, it decreases congestion by quickly guiding pilgrims and Umrah performers while also increasing the ability to handle a larger number of visitors to the two holy mosques.

The company also showcased the “Call Analyzer for Guests of the Two Holy Mosques,” which converts incoming calls into text for content analysis using AI to aid comprehension of vital contexts, generate analytical reports to support decision-making, and present recommendations to improve the quality of service provided to pilgrims and Umrah performers.

The company further showcased the “Digital Twin and Simulation for Al-Rawdah Al-Sharifa,” which generates a comprehensive simulation of the experience for the pilgrims while considering their various characteristics.

Majid bin Saad Al-Arifi, official spokesman and VP of marketing at Elm, said: “The Hajj Conference and Exhibition 2025 served as a unique platform to enhance the guests’ experience of the two holy mosques.”

It provided us with the opportunity to showcase our cutting-edge smart technologies and solutions, all aimed at improving the journeys of pilgrims and Umrah performers. This reflects our constant commitment to providing exceptional services that transcend the expectations of the guests of the two holy mosques, further ensuring their comfort and the smooth performance of the Nusuk ritual. We leverage our advanced capabilities in innovation and modern technologies to make substantial developments in Hajj and Umrah services. Our approach focuses on implementing advanced strategies that promote sustainable development and improve the overall quality of our offerings.”

He added: “We believe in the importance of developing robust partnerships with key decision-makers, where coordinated efforts and collaborations can incorporate Elm’s concepts and expertise into strategic decisions to attain the desired outcome. Elm’s reliability and recognition from our government partners are vital in achieving our mutual strategic goals. We remain committed to providing assistance at all stages of project execution to ensure the accomplishment of targeted goals and the constant improvement of services.”


KROHNE to unveil advanced software solution at SABIC CONFEX 2025

Updated 19 January 2025
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KROHNE to unveil advanced software solution at SABIC CONFEX 2025

KROHNE Middle East and Africa, a leader in industrial measurement technology and digital solutions, has announced its partnership with SABIC for the upcoming SABIC CONFEX 2025. The event will serve as the ideal platform to showcase the latest iteration of CalSys AMADAS, KROHNE’s advanced software solution for calibration, asset management, and data analytics.

SABIC CONFEX 2025 will take place in Jubail Industrial City from Jan. 26–30, bringing together industry leaders, innovators, and stakeholders from across the region and wider globe. Visitors to the KROHNE booth will have the opportunity to interact with the new CalSys AMADAS platform through live demonstration and learn how it can be customized to meet their specific operational needs.

The latest version of CalSys AMADAS builds on KROHNE’s commitment to empowering industries with precise measurement technology and innovative digital tools. Designed to optimize calibration workflows and asset management, the platform also leverages advanced data analytics to drive operational efficiencies, reduce costs, and enhance decision-making in the chemical, petrochemical, and broader industrial sectors.

Ralf Haut, KROHNE’s global product expert, will provide insights into the development and applications of CalSys AMADAS. Haut’s expertise underpins KROHNE’s reputation as a global innovator in digital solutions for critical measurement processes.

Further strengthening its commitment to the region, KROHNE has expanded its Saudi Arabia team to better support local industries and provide tailored solutions for SABIC and other key partners.

Jay Gadhavi, general manager of KROHNE Middle East and Africa, highlighted the importance of digital transformation and analytics in driving efficiencies across industries, saying: “Digital transformation is no longer a choice but a necessity. At KROHNE, we’re empowering industries with tools like CalSys AMADAS to harness data, streamline operations, and achieve greater precision. Our close working relationship with SABIC exemplifies our shared commitment to leveraging innovation to unlock efficiencies and create a sustainable future.”


Hilton-STA campaign spotlights Saudi Arabia’s must-visit hotspots

Updated 18 January 2025
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Hilton-STA campaign spotlights Saudi Arabia’s must-visit hotspots

Hilton and the Saudi Tourism Authority have partnered to showcase the diverse travel experiences tourists can enjoy in Saudi Arabia through an engaging creative content campaign.

In a first-of-its-kind collaboration, short films and photos have been creatively produced to promote Riyadh, Jeddah, AlUla, Makkah and Madinah. These captivating visuals transport viewers to discover the country’s distinctive destinations. The campaign builds on last year’s successful partnership between the two entities, in which they created engaging seasonal content for viewers, and is now being rolled out internationally, including across the Middle East, South Africa, the UK, Germany, Italy, France, Malaysia, and Indonesia.

The announcement follows the signing of a memorandum of understanding between Hilton and STA in 2023 to explore cooperation opportunities to promote Saudi Arabia and attract visitors to the Kingdom, in line with Vision 2030. It also comes as Hilton continues its plans to more than quadruple its presence with over 70 hotels under development — adding more than 18,000 keys to its growing portfolio, introducing more of its award-winning brands, and creating over 15,000 jobs for hospitality professionals across the Kingdom — with more than half of new hires being Saudi nationals. 

The content serves as a window that immerses visitors in Saudi experiences before their arrival. It brings to life the Kingdom’s must-visit hotspots and dives into the heart of its welcoming cities. From the spiritual significance of its holy cities, and highlighting the historical treasures of Diriyah, to revelling in the beauty of ancient oases and the stunning topography of the country, the campaign covers it all.

It invites visitors to experience the very best of Saudi Arabia with Hilton, highlighting the global hospitality company’s hotels across the country including Waldorf Astoria Jeddah — Qasr Al-Sharq, Hilton Riyadh Hotel and Residences and Conrad Makkah, and demonstrating the exceptional hospitality and comfort that Hilton guests can expect.

Hilton currently operates 21 hotels in the Kingdom including the recently opened Hilton Riyadh Olaya and The Hotel Galleria Jeddah, Curio Collection by Hilton. The global hospitality company is committed to expanding its presence in Saudi Arabia with plans to grow its footprint to exceed 100 hotels in the coming years. Its development pipeline includes the recently signed agreement with Dan Company, a Public Investment Fund company, to open three resorts in Al-Ahsa; an agreement with Rua Al-Madinah Holding to open three properties at Rua Al-Madinah; and a partnership with Taiba Investments to launch the first Waldorf Astoria in Madinah.


Bigo Live celebrates global creators at Dubai gala

Updated 18 January 2025
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Bigo Live celebrates global creators at Dubai gala

Bigo Live, a global social live streaming platform, hosted its first BIGO MENA Gala on Jan. 9 at Atlantis, The Palm, Dubai. The event brought together top content creators, influential users, and Bigo “Family” groups from across the globe, reinforcing the platform’s commitment to fostering real-time connections and cross-cultural exchange.

The gala recognized standout creators with prestigious awards, including gold-plated iPhone 16 Pro Max devices, standard iPhone 16 Pro Max models, and other prizes. Honorees represented diverse regions, including the MENA, Russia, Turkiye, the Philippines, Pakistan, Indonesia, France, and Thailand, demonstrating the platform’s international reach and inclusive community. The awards celebrated innovation, creativity, and the ability of creators to engage diverse audiences, highlighting the significant contributions they make to the Bigo Live ecosystem.

“The BIGO MENA Gala 2025 underscores the remarkable achievements of our creators and users who make Bigo Live a dynamic space for meaningful interactions,” said Ian Goh, director at BIGO Technology. “This event celebrates the global collaboration and innovation that have driven our growth and strengthened our community.”

The event featured captivating performances from acclaimed artists, including Eman Abdulaziz and Hwaida Yousef, alongside other international talent. These performances showcased the platform’s ability to connect communities through shared cultural experiences and entertainment, further emphasizing Bigo Live’s global reach.

The event was supported by Coda, a key partner in the MENA region. This strategic partnership underscores a shared commitment to developing and advancing digital platforms that empower users to create and connect on a global scale.

Since its inception, Bigo Live has connected more than 500 million users worldwide, facilitating real-time interactions that foster inclusivity and engagement. The platform continues to invest in innovative tools and resources that empower creators to produce high-quality content and build meaningful connections with their audiences.

The gala was streamed live on Bigo Live’s Music Livehouse channel and Bigo.tv, extending the celebration to a global audience. Interactive features, including live chat and real-time voting, allowed viewers to participate actively in the event.

The BIGO MENA Gala 2025 showcased Bigo Live’s ongoing commitment to empowering creators, facilitating global connections, and driving innovation within the live streaming industry. The platform remains dedicated to providing a dynamic and inclusive space for users worldwide.