Business & Management

AD Ports Group signs term sheet agreement for port projects in Egypt

AD Ports groupAD Ports Group and the Red Sea Ports Authority have signed a term sheet and a head of terms agreement for major port projects along Egypt?s coastline

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SRMG announces new headquarters in King Abdullah Financial District - Riyadh

AdobeStock 115243147The Saudi Research & Media Group (SRMG) has opened its new headquarters in the King Abdullah Financial District (KAFD), a new global center for business and commerce in the capital, Riyadh


The announcement of the new headquarters comes in line with the growth and expansion strategy announced by the Group last year, which aims to cement its leadership position in the media sector in the region, redefine the regional media landscape and support its efforts to become one of the key leading media groups globally. The move lays the foundation for a global creative media hub in the Kingdom of Saudi Arabia that brings together the most prominent media, technology and content companies.

The new state-of-the-art headquarters will allow the group to meet the aspirations of millions of readers, viewers, and followers from across the globe monthly. The new environment, which will feature market-leading digital technologies and data capabilities, will enable the group to foster stronger integration and optimise synergies between the Group?s businesses and talent, and support the development and digitisation of its media platforms. It will also enable the Group to enter new fields such as events, conferences, exhibitions, and book publishing, as well as support the Group?s research and polling capabilities.

The Group?s integration will also strengthen its position as a preferred media partner, and builds on the success of its existing partnerships with leading institutions such as Bloomberg and The Independent.

The new headquarters in the capital, Riyadh, marks the beginning of the Group?s global expansion, including that of Asharq network and its platforms ?Asharq News? and ?Asharq Business with Bloomberg?, with plans to establish several global offices in Washington and Singapore, in addition to its current offices in London and Dubai. In addition, the Group will employ top-of-the-line studio technologies with data-based capabilities, including social media, podcast and virtual reality studios, and introduce new content offerings such as cultural and scientific documentaries, supporting the Group?s legacy as a trusted source of news and information.

Commenting on the announcement, CEO of SRMG, Jomana Al-Rashid, said, ?Our vision for the new headquarters is to drive the creation of a global creative media hub at KAFD in particular and in the city of Riyadh in general. The Group?s headquarters will attract creative talent and provide numerous career opportunities across more than 30 media platforms in all disciplines and fields, including content creation, journalism, production, directing, writing, event management and more. SRMG will also serve as an incubator for entrepreneurs by offering investment and strategic support, and facilitate new business opportunities underpinned by the latest technologies in connectivity, communication, and data analysis, which will ultimately lead to a great positive impact on the Group mainly and the wider media sector?.

?The King Abdullah Financial District (KAFD) is considered an architectural masterpiece, characterised by the integration of its services and its pivotal location, all of which are success factors to attract the greatest talents and produce creative work,? added Al-Rashid.

Gautam Sashittal, CEO of King Abdullah Financial District (KAFD), stated, ?The establishment of the headquarters in KAFD for the most prominent regional media group is an important step in our development as a premium business and lifestyle destination in the region. The presence of the new headquarters of the Saudi Research and Media Group will contribute to enriching the business environment within KAFD, in addition to its contribution to attracting talent and stimulating growth and expansion. We welcome SRMG to KAFD; together we will support the Kingdom's future as a knowledge and information-based economy."

The King Abdullah Financial District (KAFD) is set to host the headquarters of many international companies and serve as the center of the Kingdom?s digital economy. SRMG?s new headquarters is located in the fourth district at KAFD and will consists of ten floors to accommodate around 1,200 employees. The interior spaces of the new headquarters, to which the Group will gradually move, are designed to encourage cross-collaboration, and provide an interactive working environment.

 

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Red Sea Farms attracts US$18.5mn strategic raise

AdobeStock 493917325Farms, the Saudi Arabia and UAE AgTech business whose one-of-a-kind technology enables commercial farming using low energy, zero freshwater sustainable climate control, has announced a US$18.5mn strategic fund raise

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Benefit partners with Beyon Connect to establish a digital signing service in Bahrain

AdobeStock 235464183Benefit and Beyon Connect have signed an agreement to provide Qualified Electronic Signature (QES) services in Bahrain via the ?OneID? digital ID and ?OneBox? digital postbox solutions


Benefit, one of Bahrain?s leading regional players in electronic financial transactions, is known to offer trusted and innovative financial and information solutions that are designed to make life easier, smarter, and more efficient for businesses and consumers.

By combining the trusted solutions and capabilities of both organisations, the way the residents of Bahrain will sign documents will be transformed, not only ensuring compliance, but also providing a seamless digital user experience through the use of cutting edge OneID and OneBox technologies.

OneBox will enable secure communication, transmission, and storage of the signed documents in one safe, convenient, and trusted digital space. Customers will have access to the new digital services around the clock reducing the need to visit physical locations in person.

OneID, which is available as a mobile application for both iOS and Android, enables individuals to register a unique and highly secure digital identity, to interact securely with digital services. It allows onboarding through a simple and secure e-KYC process supporting passport and national ID cards with facial recognition and liveness check.

Benefit will extend their Public Key Infrastructure (PKI) to integrate into the innovative OneID digital identity and OneBox digital postbox solutions and services delivered by Beyon Connect to reduce the need for manual signing of documents, applications, and official paperwork. PKI enables a user to electronically sign a document and prove its from a legitimate source.  

Both companies said they are committed to offer cutting edge, highly secure, and simplified digital experiences to businesses, organisations and individuals within Bahrain which can be applied across multiple industries and sectors. The focus on ?digital-first? solutions is the product of a shared ambition to deliver trusted technology that simplifies the electronic signing and payment processes, increasing efficiencies through automation and lowering operating costs.

Abdulwahed AlJanahi, CEO at Benefit, said, ?We are pleased to join hands with Beyon Connect to offer our customers new innovative services by integrating Benefit?s trusted certificates into OneID and OneBox solutions. Trusted digital signing will support the changing needs of businesses, institutions and individuals in the evolving digital economy. We are committed to support the Central Bank of Bahrain?s ongoing initiatives in driving safe and compliant financial digital transformation within the Kingdom.?

?We are proud to collaborate with Benefit, a trusted and respected Bahrain finance and technology partner, to deliver additional value and powerful extended use cases to OneID and OneBox. Our highly secure digital ID and communication platform is built on transparency, privacy, and trust, so we see real synergy with the value and technologies Benefit brings to the table,? said Christian Rasmussen, CEO of Beyon Connect.

?It is important to note that both organisations have a clear focus on sustainability, with care for the environment being high on the agenda, in line with the UN sustainability goals. The sustainability enabling technologies that we are implementing will contribute to these goals through reducing paper usage significantly,? he added.

Beyon Connect, which launched in January, is a subsidiary of Batelco and is focused on delivering new technologies with great innovation potential, Software-as-a-Service platforms, and advanced IT solutions to both the public and private sectors in the MENA region.

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Masdar to develop 4GW capacity green hydrogen plants in Egypt by 2030

AdobeStock 276818517Masdar, one of the world?s leading renewable energy companies, and Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group, have signed two Memorandums of Understanding with leading Egyptian state-backed organisations to cooperate on the development of green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast 

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