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Saudi pledges big oil cuts, OPEC+ extends deal

Saudi Arabia said it would make further cuts of one million barrels per day (bpd) in July and OPEC+ said targets would drop by a further 1.4 million bpd from 2024…reports Asian Lite News

The group of oil-producing countries resolved to extend oil production curbs through 2024, but oil kingpin Saudi Arabia has announced further cuts in its output of about one million barrels per day.

The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC Plus, met on Sunday and resolved to prolong the oil output cutbacks under the leadership of Russia and Saudi Arabia.

OPEC described the move as aiming to “achieve and sustain a stable oil market, and to provide long-term guidance for the market, and in line with the successful approach of being precautious, proactive and preemptive”, The Hill reported.

However, Saudi Arabia said it would make further cuts of one million barrels per day (bpd) in July and OPEC+ said targets would drop by a further 1.4 million bpd from 2024.

Saudi Energy Minister Abdulaziz bin Salman Al Saud. (File Photo: IANS)

Oil prices have risen after Saudi’s announcement of big output cuts. In Asia trade on Monday, Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel, BBC reported.

The United Arab Emirates will extend its voluntary cut of 144 thousand barrels per day until the end of December 2024, as a precautionary measure, in coordination with the countries participating in the OPEC Plus agreement, which had previously announced voluntary cuts in April, state media WAM reported.

OPEC+ accounts for around 40 per cent of the world’s crude oil and its decisions can have a major impact on oil prices.

In Asia trade on Monday, Brent crude oil rose by as much as 2.4 per cent before settling at around $77 a barrel.

The seven hour-long meeting on Sunday of the oil-rich nations, led by Russia, came against a backdrop of falling energy prices.

Total production cuts, which OPEC+ has undertaken since October 2022, reached 3.66 million bpd, according to Russian Deputy Prime Minister Alexander Novak, the BBC reported.

OPEC+, a formulation which refers to the Organization of Petroleum Exporting Countries and its allies, had already agreed to cut production by two million bpd, about 2 per cent of global demand.

“The result of the discussions was the extension of the deal until the end of 2024,” Novak said.

On Sunday, Saudi Energy Minister Prince Abdulaziz bin Salman said the cut of one million bpd could be extended beyond July if needed, the BBC reported.

“This is a Saudi lollipop,” he said, in what is seen as a bid to stabilise the market.

In April, Saudi Arabia, Russia, and other OPEC+ oil producers declared their intention to reduce production by 1.16 million barrels per day. The countries that produce oil had previously agreed to reduce their output by 2 million barrels per day through the end of the year.

When the decision was made, the National Security Council criticised it, stating that the administration did not consider cuts “advisable at this time given market uncertainty.”

President Biden had also threatened that there would be “consequences” for Saudi Arabia, after the country announced the production cut last October of about 2 million barrels per day, The Hill reported.

This move is not expected to affect gas prices in the United States, as pump prices have remained flat even after Memorial Day weekend travel. As of Sunday, the national average of gas prices was USD 3.55 per gallon, according to AAA. (ANI)

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Sudan Army urges Saudi-US help to restart negotiation

The statement renewed the Army’s desire to lessen the suffering of the Sudanese people and reach clear military arrangements to end the rebellion and bring the country back to the path of democratic transition…reports Asian Lite News

The Sudanese Army has called on Saudi Arabia and the US to continue mediation efforts to bring the negotiation with the rival faction back on track.

“We urge the mediation to continue its efforts to persuade the other party to implement the requirements of the truce and the short-term cease-fire, in a manner that enables the return to the negotiating track,” the office of the Sudanese Army’s spokesman said in a statement.

The statement renewed the Army’s desire to lessen the suffering of the Sudanese people and reach clear military arrangements to end the rebellion and bring the country back to the path of democratic transition.

“Our delegation has remained in Jeddah with the hope that the mediation would take a fair and more effective approach that guarantees compliance with what has been agreed on,” the statement added.

The Sudanese Armed Forces and the Rapid Support Forces (RSF) on Wednesday suspended their peace talks in the Saudi city of Jeddah.

The next day, Saudi Arabia and the US issued a statement strongly criticizing the two parties to the conflict in Sudan, saying their actions “have impeded the delivery of humanitarian assistance and restoration of essential services”.

Urging the warring parties to take necessary steps to demonstrate meaningful commitment to the Jeddah talks, the statement said the Saudi and US sides stand ready to reconvene the talks once the steps are taken.

Meanwhile, the US on Thursday imposed diplomatic and economic sanctions on the two belligerent parties.

Sudan has been witnessing deadly armed clashes between the Army and the RSF in the capital Khartoum and other areas since April 15.

More than 800 people have been killed and nearly 1.4 million forced to leave their homes since the conflict began, with more than one million internally displaced and about 3,45,000 crossing into neighbouring countries for safety, according to Sunday’s update from the UN Office for the Coordination of Humanitarian Affairs.

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Saudi announces largest operational plan for Haj Season

The plan focuses on several main axes related to the strategic goals of the Presidency 2024 based on the Saudi Vision 2030…reports Asian Lite News

The General President of the Affairs of the Grand Holy Mosque and Prophet’s Holy Mosque Sheikh Dr. Abdulrahman bin Abdulaziz Al-Sudais, announced the operational plan of the Presidency of the Two Holy Mosques for this year’s Hajj season 1444 AH, the most extensive operational plan for the presidency, SPA reported.

The plan focuses on several main axes related to the strategic goals of the Presidency 2024 based on the Saudi Vision 2030, in the presence of the Minister of Hajj and Umrah, Dr. Tawfiq bin Fawzan Al-Rabiah.

In his opening speech at the media forum, Al-Sudais said, “The operational plan for this year’s Hajj season is the largest in the history of the presidency, after the end of the Corona pandemic and the announcement of the return of Hajj pilgrims in the millions, per an integrated system of services prepared by the wise leadership.”

He added that this plan is an extension of the outstanding successes and long-term achievements that were laid down by the directives of the wise government led by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud and HRH the Crown Prince, who closely follow all the services provided to the pilgrims.

In volunteering and humanitarian work, the General President stated that the Presidency provided more than 8,000 volunteer opportunities in the Two Holy Mosques in ten fields and more than 200,000 volunteer hours during the Hajj season.

To enhance the guiding role of the Two Holy Mosques, he stressed that the Presidency provides translation services, spatial guidance, and information for the pilgrims in 51 international languages across 49 stations.

The Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah, spoke during the launch of the operational plan about integration and coordination between the Ministry of Hajj and the General Presidency for the Affairs of the Grand Holy Mosque and the Prophet’s Holy Mosque in serving the pilgrims, especially with the return of the numbers of pilgrims into the millions, and providing the best services so that they perform their rituals with comfort and tranquility.

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flynas reveals plans to transport more than 100,000 pilgrims during Hajj

The company has completed its preparations to ensure providing the best service and experience to the guests of the Holy Mosque since boarding its aircraft and during the stages of reception and departure after performing the Hajj…reports Asian Lite News

flynas, the Saudi air carrier and the leading low-cost airline in the Middle East, has revealed plans to transport more than 100,000 pilgrims from more than 13 countries during the Hajj season of 1444 AH (2023 AD), bringing the total number of pilgrims and Umrah performers flown by the carrier to more than two million since its establishment in 2007.

The nations from which flynas will transport pilgrims in 1444 AH are spread across Asia and Africa and include Algeria, Morocco, Mauritania, Nigeria, Burkina Faso, Ivory Coast, Senegal, Ghana, Niger, Comoros, India, Bangladesh, and Kazakhstan.

The company has completed its preparations to ensure providing the best service and experience to the guests of the Holy Mosque since boarding its aircraft and during the stages of reception and departure after performing the Hajj. Also, a specialized executive team will be available and working around the clock from the main operations control center to follow up on the operational processes, meet the pilgrims’ needs, and provide all the capabilities necessary for their comfort in cooperation with the administrations of King Abdulaziz International Airport in Jeddah and Prince Mohammed bin Abdulaziz International Airport in Madinah, and the concerned governmental authorities.

Gearing up for the Hajj season, flynas has taken delivery in early May of its fourth wide-body Airbus A330 aircraft, boosting the operational capacity and increasing the number of passengers on new medium-to-long-haul destinations, in line with the National Civil Aviation Strategy to reach 330 million passengers and increasing the number of international destinations connected to the Kingdom to more than 250 destinations by 2030.

Through its growth and expansion strategy launched in early 2022, under the slogan “We Connect the World to the Kingdom” flynas aims to reach 165 domestic and international destinations.

flynas currently connects more than 70 domestic and international destinations and has flown more than 60 million passengers since its launch in 2007.

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Hasina meets OIC chief

The meeting reviewed aspects of cooperation between Bangladesh and the OIC, and ways to operationalize joint Islamic action and promote the spirit of solidarity…reports Asian Lite News

Prime Minister of the People’s Republic of Bangladesh, H.E. Sheikh Hasina, received the Secretary-General of the Organization of Islamic Cooperation (OIC), Mr Hissein Brahim Taha, in Dhaka on Sunday 28 May 2023.

The meeting was part of the Secretary-General’s five-day-visit to Bangladesh from 27 to 31 may 2023.

The meeting reviewed aspects of cooperation between Bangladesh and the OIC, and ways to operationalize joint Islamic action and promote the spirit of solidarity.

The Secretary-General thanked Bangladesh for its efforts in support of OIC’s projects and programmes paid tribute to the Government and people of Bangladesh for their relentless efforts to provide shelters, protection, hospitality, and necessary assistance to Rohingya refugees who have been living in Bangladesh for the past five years.

The Secretary-General, as the Chancellor of the Dhaka based Islamic University of Technology (IUT), thanked also the Honourable Prime Minister for her efforts towards the University, which will be having its 35th Convocation on 30 May.

For her part, the Honourable Prime Minister thanked the Secretary-General for visiting Bangladesh while expressing her country’s constant readiness to support OIC’s efforts.

Both sides discussed issues of interest to the Islamic world and the OIC’s role in resolving conflicts, promoting mediation efforts and the need to do more to overcome the various challenges facing the Islamic world, particularly in political and economic domains.

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AlNeyadi welcomes Saudi astronauts

The docking of the Dragon 2 spacecraft with the ISS is a historic moment for the Saudi astronaut Rayyanah Barnawi who becomes the first ever Arab woman to fly into space to the ISS…reports Asian Lite News

The two Saudi astronauts Rayyanah Barnawi and Ali AlQarni and mission team crew have arrived at the International Space Station (ISS) after their spacecraft Dragon 2 successfully docked.

NASA has announced the successful docking of Dragon 2 after 16 hours of the rocket launch on Sunday from NASA’s Kennedy Space Center at Cape Canaveral, Florida.

The docking of the “Dragon 2” spacecraft with the ISS is a historic moment for the Saudi astronaut Rayyanah Barnawi who becomes the first ever Arab woman to fly into space to the ISS. It is a historic moment for the Kingdom of Saudi Arabia, which is now the first Arab country to send a woman on a space scientific mission just as it is also one of the few countries with two astronauts on board the ISS simultaneously.

The mission crew, consisting of four astronauts, Rayyanah Barnawi, Ali AlQarni, Peggy Whiston and John Shoffner, was welcomed and greeted by the International Space Station team that wished them success.

Upon arrival, the mission crew of AX-2 changed their space suits and joined the ISS team preparing to carry out their mission into space, where they will conduct 14 pioneering research experiments in microgravity that are set to have an important scientific impact.

AlQarni said: “Thank God, we have reached the International Space Station..and we are here to carry out scientific experiments that will benefit humanity, God willing.”

The studies that will take place in space by the two Saudi astronauts range from human research and cell science to artificial rain in microgravity in order to develop space science and progress in sending more manned spacecraft to the moon and to Mars.

In addition, the Saudi astronauts will also conduct three educational awareness experiments. This space program has placed the Kingdom as an important player in the global space science research community and as a major investor in the service of humanity and its future.

The Saudi Space Commission confirmed that the astronauts, Rayyanah Barnawi and Ali AlQarni, are fully trained and prepared to carry out their mission in space. SSC is also confident that they will accomplish the planned mission successfully and return safely to earth.

The efforts by the SSC are designed to prepare future astronauts and engineers through quality educational and training programs, participation in experiments, international research, and future scientific space-related missions – all of which will contribute to raising the status of the Kingdom and to achieving the goals of Vision 2030

The results of which will enhance the Kingdom’s global position within the field of space exploration and service to humanity. It will also confirm the role of Saudi research centers in making a scientific impact in this field.

Eng. Al-Sawaha congratulated the leadership on the successful arrival of Rayana Barnawi and Ali Al-Qarni to the International Space Station.

Meanwhile, the “Saudi Arabia Towards Space” exhibitions were held by the Saudi Space Authority coinciding with the launch of the scientific mission of the two Saudi astronauts to the International Space Station, and it continues until the first of next June.

The visitor’s experience in exploring the space sector Learn about space flights and their history, raise the level of interest in space, its sciences, and its scientific and technical specialties among the emerging generations, and highlight the Kingdom’s research contributions and scientific impact in this field.

The exhibitions held in Riyadh, Jeddah and Dhahran provide unique opportunities to explore the space sector, learn about space flight and its history, raise the level of interest in space and its sciences and scientific and technical specializations among the emerging generations, and highlight the Kingdom’s research contributions and scientific impact in this field.

The activities of the exhibitions held in the cities of Riyadh, Jeddah and Dhahran are suitable for different groups and ages, as visitors learn about the future of space and its history in the visual museum of the exhibition, and they also explore space, virtual reality games experiences, astronaut training, as well as how they sleep in the corner designated for it, while an area is designated to answer questions Visitors’ questions from a group of scholars and experts, in addition to holding educational and informative workshops for students.

The exhibitions allow the various interested parties to follow the scientific stages and the scientific, educational and educational experiences presented by the two Saudi astronauts from the International Space Station, and keep up with their details until their return to Earth.

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UAE firm eyes huge opportunities in Saudi mobility sector

Shinawi said his company is well-equipped to tackle challenging projects and contribute to the success of the Kingdom’s Vision 2030 plans…reports Asian Lite News

Saudi Arabia’s mobility sector is set to benefit from the collaboration of the Public Investment Fund-backed iot squared and UAE-based AHOY Technology as the former will obtain software licensing and resale rights of IT products offered by the latter.

The partnership aims to launch AHOY’s comprehensive suite of products and services including technology infrastructure, software development kits, and programming interfaces in the Kingdom. The Saudi firm, iot squared, is a joint venture between the PIF and etc Group.

AHOY CEO Jamil Shinawi expressed optimism over the prospects of his firm’s partnership with iot squared. Shinawi described the sovereign wealth fund-backed company as the “eyes, ears and senses” of AHOY in Saudi Arabia. “iot squared comes not only with a great purpose but also with an amazing world-class team that is more than capable of creating wonders,” he added.

Shinawi said his company is well-equipped to tackle challenging projects and contribute to the success of the Kingdom’s Vision 2030 plans.

AHOY is a unique deep-tech company that provides developers with the tools needed to build efficient, lean, and automated movement operations solutions through data, insights, and intelligence.

Shinawi said the Kingdom is undergoing “an amazing” transformation and evolving at the socioeconomic, industrial, and technological levels.

“We, at AHOY, consider ourselves a catalyst for such a change,” as the company is involved with several projects, some of which are backed by the PIF, in different sectors such as aviation and mobility.

The IT firm has also established a regional commercial office in Riyadh.

Among the company’s licensed products, COMET stands out as a software-as-a-service platform designed to optimize and seamlessly integrate logistical platforms, ensuring end-to-end efficiency. FLY+ provides a platform-as-a-service solution for a smarter travel experience, offering remote check-in, door-to-door services, and efficient handling of left-behind luggage.

Additionally, AHOY’s Movement Studio technology infrastructure facilitates the development of tailor-made software tools, enabling the affordable and rapid creation of futuristic solutions, systems, and applications. These solutions accurately orchestrate movement and routing, catering to the needs of enterprises and complex commercial-grade applications.

Shinawi acknowledges that the Kingdom’s heavy investment in technology and innovation presents immense opportunities for the company. AHOY aims to attract 100 new enterprise clients from Saudi Arabia in the coming years.

Having exceeded over $16 million in revenues since its inception, the company reached the threshold of profitability last year.

“We have raised close to SR60 million ($16 million) from 2018 to date, this has been used to build our technology, develop and conduct limited operation of use-cases to demonstrate scalability,” he said.

Shinawi said that in the first five months of 2023, his IT firm had surpassed last year’s revenue.

AHOY raised approximately SR1 million from an angel round in 2019, SR12 million in 2020, and SR45 million in 2022.

Shinawi also revealed plans to secure additional funding through a Series D round in 2023. The company aspires to become the region’s first decacorn, reaching a valuation of $10 billion, he added.

Expanding on its global presence, AHOY already operates in 60 markets and aims to establish a global user base within 18 months. By the end of the year, AHOY aims to operate in 120 geographies.

“We are close to 100 people globally and we do not want to exceed 120 people even in the future, any requirement in growth in our structure happens in spin-off companies that are subsidiaries,” Shinawi explained.

Shinawi also disclosed the launch of autonomous command and control and planning artificial intelligence orchestrators in 2023. The new products, he said, will make operations management efficient manifold.

Moreover, AHOY is actively developing a neural network-based solution targeting traffic, water, and data management.

It is committed to bridging the technology gap by providing a framework that streamlines dynamic movement and equips developers, implementation partners, and systems.

Shinawi believes in supporting the growth of small and medium enterprises which he considers the driving force of any economy.

“SMEs are our passion,” he said. “Such a transformative vision like Saudi Vision 2030 necessitates sustainable development through technology, and AHOY is committed to supporting every hand that contributes to this noble cause and the evolution of humanity and life.”

He added that AHOY is perfectly suited to support the developments of Vision 2030, whether in smart cities, people and goods flow, or AI and machine learning.

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Arab League Summit wraps up in Jeddah

The 32nd Arab League Summit kicked off in the Saudi city of Jeddah on Friday with the participation of Arab leaders to discuss regional and global issues…reports Asian Lite News

The 32nd Arab League Summit concluded in the Saudi city of Jeddah by adopting the Jeddah Declaration, which calls for Arab unity to solve regional issues, state media reported.

The declaration welcomed Syria’s readmission to the Arab League (AL), vowing to intensify pan-Arab efforts to help Syria tackle its crisis, Al Arabiya TV reported on Friday.

It underlined the Arab Peace Initiative to solve the Palestinian issues, urged for the de-escalation of tensions in Sudan, called for the election of a new Lebanese President and the required reforms to lift Lebanon out of its crisis, and supported initiatives to promote security and stability in Yemen, Xinhua news agency reported.

The declaration rejected foreign interference in the domestic affairs of Arab countries and “categorically reject all support for the formation of armed groups and militias outside the scope of state institutions”.

At a press conference to brief on the summit, Saudi Foreign Minister Prince Faisal bin Farhan Al Saud was quoted by Al Arabiya TV as saying that the Jeddah Declaration will reinforce joint Arab work.

The Minister affirmed that the Palestinian cause remains the Arab’s pivotal cause, expressed hope that Syria’s return to the Arab fold would contribute to ending the Syrian crisis, and called on the Sudanese warring parties to resort to dialogue to put an end to the current armed clashes.

AL Secretary-General Ahmed Aboul-Gheit highlighted the success of the Jeddah summit in achieving its goal, expressing hope that the summit would be a beginning for the Arab countries to grasp their fate in their own hands.

The 32nd Arab League Summit kicked off in the Saudi city of Jeddah on Friday with the participation of Arab leaders to discuss regional and global issues that are crucial to the region’s stability.

Syrian President Bashar al-Assad attended the summit for the first time since his country was suspended from the Arab League after the outbreak of the Syrian civil war in 2011.

In the summit, Algerian Prime Minister Ayman Benabderrahmane handed over the rotating presidency of the Arab League to Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud.

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Iran, Saudi hold talks on facilitating Haj pilgrimage

The both sides discussed the resumption of bilateral political relations…reports Asian Lite News

Iran’s Finance Minister Ehsan Khandouzi said that his country and Saudi Arabia have discussed ways to facilitate the Haj pilgrimage for Iranians and boost economic cooperation between the two nations.

Khandouzi made the remarks when elaborating on the outcomes of the meeting with his Saudi counterpart Mohammed Aljadaan in the Saudi city of Jeddah last week on the sidelines of the Annual Meetings of the Islamic Development Bank Group, Xinhua news agency reported.

Khandouz said they discussed facilitating the process of the Haj pilgrimage for Iranians in terms of the banking issues and flights, as well as trips to Saudi Arabia by Iranian traders, stressing that the Saudi side welcomed holding talks on the topics.

The two ministers also discussed the resumption of bilateral political relations, said Khandouz, adding that the Saudi side called for preparing the ground as soon as possible for improving the economic ties.

They agreed on cooperation in making joint investments in the areas of technology-based product manufacturing, medicine, nanobiotechnology, power plant construction, transportation, and road construction.

The Iranian minister said it was decided that within three months, Iranian and Saudi private delegations as well as managing directors of the two countries’ leading companies should hold “constructive” meetings to enhance cooperation.

In March, Saudi Arabia and Iran reached in Beijing a groundbreaking agreement to resume diplomatic relations and reopen their embassies and missions within two months.

On April 6, the two countries officially announced in China the resumption of diplomatic relations with immediate effect.

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UL Solutions spreads Middle East presence

The new facility will support safe, sustainable and secure commercialization of technologies to advance Saudi Arabia’s economic transformation initiatives and objectives…reports Asian Lite News

UL Solutions, a global leader in applied safety science, announced that it opened a new office in Riyadh to serve customers in Saudi Arabia and throughout the Middle East. From this location, UL Solutions will deliver fire safety, security and sustainability services for customers by providing access to proven science, testing and critical data and software products. The UL Solutions office was established to support Saudi Arabia’s Vision 2030 economic transformation plan and to meet the requirement for all foreign entities to have a local presence to do business with the Kingdom as part of the country’s efforts to establish Riyadh as a global business hub.

“Complementing our existing presence in Dammam, Dubai and Abu Dhabi, our new Riyadh office is our latest demonstration of UL Solutions’ commitment to serving in-region customers. and will help support the region’s major developments and projects, including those in industrial, infrastructure, information and communications technology, energy and sustainability sectors,” said Dareen Ayyad, country manager of UL Solutions in Saudi Arabia and lead in the Riyadh office. “Expanding our Middle East footprint in Riyadh will enable key stakeholders in the Kingdom direct local access to UL Solutions’ world-class safety science expertise in support of efforts to transform the economy.”

In 2016, Saudi Arabia published Vision 2030, a plan centered around three pillars: be at the heart of the Middle East, create a more diverse and sustainable economy, be an integral driver of international trade and connect three continents, including Africa, Asia and Europe. As part of Vision 2030, Saudi Arabia is diversifying its economy and reducing its dependence on oil.

Since the publication of Vision 2030, Saudi Arabia has undergone a significant transformation by establishing an $18 billion (USD) data center strategy and developing mega and giga projects, including NEOM, a smart city, and Amaala and the Red Sea Project, which are ultra-luxury and sustainable tourist destinations. Renewable energy projects are also a priority, with the Kingdom developing more than 58 GW of solar and wind power as it phases out all power stations that use fossil fuels. In addition, with a focus on the localization of industries, Saudi Arabia is targeting to triple its manufacturing gross domestic product (GDP), increase industrial export value to $148 billion (USD) by 2030, and increase the number of factories in the Kingdom to 36,000 by 2035.

“With this transformation comes a significant need to address fire safety, cybersecurity and sustainability,” said Hamid Syed, vice president and general manager of UL Solutions in the Middle East. “Building upon our existing footprint and previous work in the region, our new presence in Riyadh will allow us to continue to heighten our ability to be a trusted science-based safety, security and sustainability partner and help enable the Kingdom’s economic evolution.”

As Saudi Arabia looks to improve nationwide fire safety and industrial security regulations, local and regional demand for fire prevention and safety implementation systems is anticipated to continue its upward trajectory. To help address this need, UL Solutions established a partnership with Dammam-based GCC Labs’ safety arm to help advance fire safety in the Middle East. The two companies are also collaborating in Saudi Arabia to assess extreme environmental conditions on photovoltaic (PV) modules to help better understand future solar project efficiencies and extend PV module lifetimes.

Other recent initiatives include agreements with the Saudi Arabian Standards Organization (SASO) to promote the use of UL Standards for safety, a memorandum of understanding with the Saudi Telecom Company (STC) to test various products across the fiber-to-home ecosystem, and accreditation by SASO to perform tests related to energy efficiency functionality for street, road and tunnel lighting products.

“In addition to our furthering our existing relationships with GCC Labs, STC and SASO, we look to strengthen key local partnerships, including those with the Saudi Electricity Company, the National Cybersecurity Authority, the Saudi Arabia Civil Defense and Saudi Aramco, to support the Kingdom’s Vision 2030 goals,” said Syed.

“Investment, trade and other commercial activities form a vital pillar of the bilateral relationship between the United States and the Kingdom of Saudi Arabia,” said James Glosen, counselor for Commercial Affairs at the United States (U.S.) Embassy in the Kingdom of Saudi Arabia. “As the Kingdom’s economy grows and becomes increasingly diverse, significant opportunities for U.S. firms present themselves in a wide variety of sectors. To deepen our economic and commercial ties, the U.S. Embassies and Consulates are committed to supporting U.S. companies, such as UL Solutions, doing business with the Kingdom.

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