“There is so much work with everything that’s happening. Finding people to do it – experienced people – that’s the hard bit.” Wassim Elaify, CEO, Indicators, SMEs struggle as skills shortages drive up Saudi salaries [Arabian Gulf Business Insight]
“How do we wrap those two together – huge benefits from digitalisation but still very weak productivity growth in the region? Is that something that in the next stage of digitalisation we may see reversed?” Tim Callen, a former assistant director in the IMF’s Middle East and Central Asia department, Gulf digitalisation growth barely moving needle in productivity [Arabian Gulf Business Insight]
“We need all sources of energy to meet the growth in demand, which is just tremendous in the developing world. The main pillar of our strategy and technology is efficiency and optimization of our existing production.” Ahmad Al-Khowaiter, Aramco executive vice president for technology and innovation, Saudi Aramco, IEA Chiefs Clash In Houston Over The Future Of Oil [Oilprice.com]
“We are living our golden era right now. If I have to pick one sector that demonstrates the growth and momentum in the region, I would have to say the capital markets, specifically the IPO markets…which has become world-leading, with issuances among the largest by volume.” Karim Tannir, Head of Banking for MENAT at HSBC Holdings, ‘Golden era’ for GCC capital markets as global investors cash in on $2.3 trillion powerhouse [Arabian Business]
“As the country works to reduce its dependence on oil and diversify its economy, foreign relations are not merely supplementary but a prerequisite for securing the investments, trade agreements, and stability needed for sustained economic growth. As Saudi Arabia seeks to establish itself as an attractive investment destination, diplomatic efforts help maintain an investment-friendly environment, assuring foreign investors of the country’s security and stability.” Layla Ali, Unpacking the Drivers of Saudi Arabia’s Foreign Policy [Gulf Research Center]
“Saudi Arabia’s transition to a knowledge-based economy depends on trust in financial reporting. Ethical, transparent accounting practices are essential for attracting investment and ensuring long-term economic resilience.” ICAEW Middle East head Hanadi Khalife, Saudi finance leaders discuss accounting reforms at ICAEW event [The Accountant]
“We’re not an agent of Israel. We have specific interests at play, and we did communicate back and forth. We had very specific parameters by which we fell. And the reality is, what I wanted to do is jumpstart some negotiations that were in a very fragile place. And I wanted to say to Hamas, ‘What is the end game that you want here?’” Adam Boehler, President Donald Trump’s hostage affairs envoy, Why did the US break with tradition and hold talks with Hamas? [ME Eye]
“Saudi companies cannot provide for all the buildings that are coming so I think that, for the next few years, they will be very open to foreign companies.” ProMarmo commercial director Rafael Tonello Rizzardo, Saudi construction surge draws interest from around the world [Arabian Gulf Business Insight]
“The Women’s Tennis Association and Saudi Arabian Public Investment Fund have launched a new program to provide players with maternity and child family planning benefits… The PIF WTA maternity fund program is the first and only maternity program in women’s sports to be fully funded and supported by an external partner.” Women’s pro tennis introduces paid maternity leave funded by Saudi sovereign wealth fund [CNBC]
“Saudi Arabia is not modeling itself after China or India. It is forging a path entirely its own, built on its unique history and ambitions. The question is no longer whether Saudi Arabia is changing—it is whether the world is ready to recognize and embrace it.” Angela Chitkara and Curtis S. Chin, Is Saudi Arabia the next China or India? See for yourself [Yahoo]
