CEO Editorial Team - CEO Weekly

Investments in Saudi Arabia's textiles industry have exceeded $1 billion, Majed Al-Argoubi, MODON CEO

February 28, 2023

Investments in Saudi Arabia’s textiles industry have exceeded $1 billion, Majed Al-Argoubi, MODON CEO

Saudi Arabia’s textiles and fabrics industries have seen investments worth over $1 billion, as the industrial sector in the country undergoes significant development, according to Majed Al-Argoubi, the CEO of the Saudi Authority for Industrial Cities and Technology Zones, also known as MODON. This funding has been distributed over 125 industrial contracts in 19 industrial cities, covering a total area of more than one million sq. m. The textiles and men’s supplies sector is experiencing high growth in the country, as most of its raw materials are sourced from Saudi Arabia, making it an attractive sector for investments, Al-Argoubi said.

The expansion of the humanitarian donor base is urged by the EU Crisis Commissioner.

by CEO Editorial Team

February 28, 2023

The expansion of the humanitarian donor base is urged by the EU Crisis Commissioner.

The European Union’s crisis management commissioner, Janez Lenarcic, has called for the expansion of the donor base for global humanitarian aid during his visit to the Delegation of the European Union to Saudi Arabia in Riyadh. Lenarcic noted that the current donor base is narrow, with the 10 largest donors contributing more than 80% of global humanitarian aid, which he believes is neither fair nor sustainable. He urged others who are capable of contributing more to assume greater responsibility for providing humanitarian assistance to those in need.

In 2022, SABIC experienced a 13% increase in revenue, totaling $53 billion.

by CEO Editorial Team

February 28, 2023

In 2022, SABIC experienced a 13% increase in revenue, totaling $53 billion.

Saudi Basic Industries Corporation (SABIC), one of the world’s largest petrochemical companies, reported a 28.35 percent decline in net profit to SR16.53 billion in 2022. The decline was attributed to lower profit margins and rising distribution costs. However, the company’s sales volume increased by 9 percent from the previous year, driven by growth projects, improved […]

Civil defence reports that a cholera outbreak following the earthquake in northwest Syria has resulted in the deaths of 22 people.

by CEO Editorial Team

February 28, 2023

Civil defence reports that a cholera outbreak following the earthquake in northwest Syria has resulted in the deaths of 22 people.

On Tuesday, it was reported that a cholera outbreak had occurred in the northwestern region of Syria. The outbreak was linked to the devastating earthquake that had struck Turkey and Syria earlier. The Syrian opposition-run civil defense informed that 22 people had already died, and there were 568 confirmed cases of infection.

The Kingdom of Saudi Arabia has affirmed its commitment to protecting and enhancing human rights

by CEO Editorial Team

February 28, 2023

The Kingdom of Saudi Arabia has affirmed its commitment to protecting and enhancing human rights

Saudi Arabia’s President of the Human Rights Commission, Hala Al-Tuwaijri, recently affirmed the Kingdom’s commitment to improving and protecting human rights, respecting cultural diversity, and promoting equality. Speaking at high-level meetings of the UN Human Rights Council in Geneva, Al-Tuwaijri highlighted the Kingdom’s unprecedented reforms as part of its development Vision 2030, including significant improvements in the field of women’s empowerment.

Hub71 in Abu Dhabi introduces a novel ecosystem to aid Web3 start-ups.

by CEO Editorial Team

February 27, 2023

Hub71 in Abu Dhabi introduces a novel ecosystem to aid Web3 start-ups.

Abu Dhabi’s Hub71, a global technology hub backed by the Abu Dhabi government and Mubadala Investment Company, has unveiled a new ecosystem called Hub71+ Digital Assets. The ecosystem is designed to accelerate the growth of Web3 startups, and will offer access to venture capital companies, customers, technology providers, blockchain platforms, and the regulator, the Abu Dhabi Global Market. The venture capital companies will offer a $2 billion investment to qualifying companies, with plans to further expand the investor network for digital assets.

UAE's most in-demand jobs in the first quarter of 2023?

by CEO Editorial Team

February 27, 2023

UAE’s most in-demand jobs in the first quarter of 2023?

The UAE’s job market is expected to experience a hiring spree in the first quarter of 2023, with employers in the commerce, trade, and retail sectors leading the way. According to a survey conducted by Bayt.com and YouGov, sales and marketing executives are the most in-demand roles that UAE employers plan to recruit in the next three months. The survey polled 1,014 people from countries including the UAE, Saudi Arabia, Kuwait, Lebanon, and Jordan between November 30 and January 18.

Expo Live, a project of Expo 2020 Dubai, is providing funding for green projects to combat climate change in Expo City Dubai.

by CEO Editorial Team

February 27, 2023

Expo Live, a project of Expo 2020 Dubai, is providing funding for green projects to combat climate change in Expo City Dubai.

Expo City Dubai, the site of the upcoming Cop28 climate summit, is set to fund green projects aimed at fighting climate change. Expo Live, a legacy project of the recently concluded Expo 2020 Dubai, is searching for start-ups with innovative and practical solutions to the global climate crisis.

In Kyiv, Saudi Arabia's Foreign Minister Prince Faisal bin Farhan met with Ukrainian President Volodymyr Zelenskyy

by CEO Editorial Team

February 27, 2023

In Kyiv, Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan met with Ukrainian President Volodymyr Zelenskyy

On Sunday, Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan arrived in Kyiv, where he met with Ukrainian President Volodymyr Zelenskyy and held a press conference with Ukraine’s Foreign Minister Dmytro Kuleba. The visit comes as Saudi Arabia maintains strong ties with both Ukraine and Russia throughout the ongoing crisis.

According to reports, Swiss banks are holding millions of dollars that were allegedly embezzled by Riad Salameh.

by CEO Editorial Team

February 27, 2023

According to reports, Swiss banks are holding millions of dollars that were allegedly embezzled by Riad Salameh.

The financial crisis in Lebanon has been a long-standing issue, with the country facing political instability and economic downturns. One of the key players in this crisis has been the Lebanese Central Bank Governor, Riad Salameh. Mr Salameh, who was once praised for his efforts to stabilize the country’s financial sector, has been under investigation in at least six European countries since 2020 over alleged financial wrongdoing and corruption.

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