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Ton Diemont, head of Cybersecurity & Data Privacy, KPMG Saudi Arabia.
KPMG: Financial entities to face penalties for violation of Saudi Personal Data Protection Law
RIYADH — Saudi Arabia’s Personal Data Protection Law (PDPL) will help protect the privacy of individuals and ensure that banks processing personal data are held accountable through a system of severe penalties, said Ton Diemont, head of Cybersecurity & Data Privacy, KPMG Saudi Arabia.More importantly, any bank or financial entity breaching PDPL regulations involving the collection, usage, transfer, or storage of personal data, whether intentional or not, risks reputational damage, he stated in the Banking Perspective 2023 report.Following a one-year compliance grace period, PDPL is now in place and coming into force on Sept. 14, 2023, with the enforcement deadline set for Sept. 14, 2024.The new law regulates the processing of personal data and applies to any entity that processes the...
June 20, 2023

KPMG: Financial entities to face penalties for violation of Saudi Personal Data Protection Law

The co-founder of InterGlobe Aviation and the bosses of Airbus and IndiGo after signing the record order at the Paris Airshow. — courtesy Reuters
Record aircraft purchase announced at Paris Airshow
PARIS — Indian carrier IndiGo has made a record order for 500 Airbus A320 aircraft — the largest single purchase agreement by any airline in commercial aviation history.The deal, announced on the first day of the Paris Airshow, is worth roughly $55 billion before any bulk-order discounts. IndiGo now has an order book of 1,330 aircraft with Airbus.This translates into a steady stream of deliveries planned between 2030 and 2035.The new deliveries will help budget carrier IndiGo lower its operating costs and improve fuel efficiency, the company said.India is a burgeoning aviation market, with some analysts saying it is on track to replace China as the aerospace industry's next growth frontier.The country is expected to be the fastest-growing G20 economy over the next few years and has...
June 19, 2023

Record aircraft purchase announced at Paris Airshow

Mozn partners with SIMAH to support kingdom’s efforts in fight against financial fraud
Mozn, a market leader in enterprise AI technologies, today announced it has entered a collaborative partnership with the Saudi Credit Bureau (SIMAH), to bolster the Kingdom’s financial sector and ensure that the ambitions of Vision 2030 are not hampered by the rise in financial crime.The partnership was formalized in a memorandum of understanding (MOU) in a special signing ceremony on 29 May. The MoU reflected a joint commitment by Mozn and SIMAH to build and nurture a robust, safe, secure financial ecosystem in the Kingdom of Saudi Arabia. Collaboration will focus on areas such as KYC (know your customer), credit assessment, and fraud prevention.“Saudi Arabia’s Vision 2030 calls for the building of a better society – a prosperous society – in which all citizens and residents of...
June 18, 2023

Mozn partners with SIMAH to support kingdom’s efforts in fight against financial fraud

Global Wealth Conference to drives economic growth with new US-Saudi $5 Billion MENA- focused megafund
The Global Wealth Conference (GWC), organized by the Sovereign Wealth Fund Institute (SWFI) in London, left a lasting impact on the investment landscape in the MENA region. The event witnessed the announcement of the $5 billion 'MEGAM' fund, a collaboration between US-based Patel Family Office and KSA’s Ajlan & Bros Holding, which aims to raise an impressive $20 billion by investing in the thriving MENA hospitality sector - a compelling proposition for global investors.This first-of-its-kind equity fund in the MENA region aims to transform both existing and emerging projects, foster sustainable growth and bolster the region’s tourism industry. The fund will allocate $3 billion for Saudi Arabia, $1 billion for Egypt, and $0.5 billion each for Morocco and Algeria.The GWC...
June 18, 2023

Global Wealth Conference to drives economic growth with new US-Saudi $5 Billion MENA- focused megafund

Alfanar largest single investor in record public-private partnership for social infrastructure in NEOM
Alfanar Global Development, a part of Alfanar Group, is investing SR10 billion into developing and operating temporary residential communities in NEOM. This project, awarded as part of a record SR21 billion public-private partnership (PPP) for social infrastructure, will house the growing workforce in different parts of the region, including Oxagon where the future of advanced and clean industries is currently being constructed. The project supports NEOM’s rapid transformation by designing, building, and operating five communities for the growing workforce across the northwestern region of Saudi Arabia.Since achieving financial closure with three major commercial banks - Riyad Bank, SAB, and Alinma Bank – Alfanar has made significant progress with the project's mobilization and...
June 18, 2023

Alfanar largest single investor in record public-private partnership for social infrastructure in NEOM

Foxconn chairman and CEO Young Liu
iPhone maker switching to cars as US-China ties sour
TAIPEI — iPhone maker Foxconn is betting big on electric cars and redrawing some of its supply chains as it navigates a new era of icy Washington-Beijing relations.In an exclusive interview, chairman and boss Young Liu told the BBC what the future may hold for the Taiwanese firm.He said even as Foxconn shifts some supply chains away from China, electric vehicles (EVs) are what will drive its growth in the coming decades.As US-China tensions soar, Liu said, Foxconn must prepare for the worst."We hope peace and stability will be something the leaders of these two countries will keep in mind," 67-year-old Liu said, in his offices in Taipei, Taiwan's capital."But as a business, as a CEO, I have to think about what if the worst case happens?"The scenarios could include...
June 16, 2023

iPhone maker switching to cars as US-China ties sour

stc, fully prepared to cater to pilgrims’ needs during Hajj 1444 Season
stc group, the engine of digital transformation in the region, has completed its technical, human, and logistic preparedness to serve the pilgrims in Makkah, Al Madina and the Holy Sites as part of the group’s provisions for this year’s Hajj season (1444).During the visit to the Hajj Operations Center and the Technical Support Center in Makkah region, Eng. Abdullah bin Amer Al-Swaha, the Minister of Communications and Information Technology and the Chairman of the Board Directors of the Saudi Space Commission, was escorted by Eng Olayan Alwetaid, stc Group CEO, c-suite executives, and officials from the group, to inspect and ensure preparedness.The delegation acknowledged the stc’s network, digital solutions and services brought to Makkah and the holy sites to serve pilgrims. The stc...
June 14, 2023

stc, fully prepared to cater to pilgrims’ needs during Hajj 1444 Season

2nd Global Project Management Forum concludes with great success
The second edition of the Global Project Management Forum (GPMF 2023) ended on a high note on Tuesday, after two days of valuable knowledge sharing, dynamic exhibitions, and productive networking activities participated in by the most influential community of project managers and diverse stakeholders from the region and around the world.Held in Riyadh, Saudi Arabia, GPMF 2023 attracted a huge attendance, with 13,549 visitors, 20 public and private sponsors, 35 exhibitors, and 78 key speakers and experts from 109 different countries, including the United States, Sudan, Jordan, Bahrain, Egypt, and South Korea, which was the Country of Honor in this year’s edition.The two days event witnessed keynote speeches from leading figures in the industry, the awarding of the sponsors and partners,...
June 14, 2023

2nd Global Project Management Forum concludes with great success

Dr. Muhammad Badr Muhammad Al-Basatini, Senior Resident Doctor of Urology and Head of the Urology and Reproductive Surgery Department at Dallah Hospital Namar.
Following a successful hormone therapy at Dallah Hospital Namar, a couple delivered after delay in pregnancy of 13-year
A medical team in the Department of Urology and Venereal Diseases at Dallah Hospital Namar in Riyadh succeeded in performing a precise and qualitative hormonal fertilization (hormonal treatment) operation for a couple who had stopped having children for 13 years.Thanks to Allah, the couple had a new baby after the operation. The medical team that performed the operation made praiseworthy efforts, under the supervision of Dr. Muhammad Badr Muhammad Al-Basatini, Senior Resident Doctor of Urology and Head of the Urology and Reproductive Surgery Department at Dallah Hospital Namar.Dr. Muhammad Badr Muhammad Al-Basatini stated, “With the assistance and grace of Allah, we were able, at Dallah Hospital Namar in Riyadh, to conduct a successful qualitative hormonal treatment for a couple who had...
June 14, 2023

Following a successful hormone therapy at Dallah Hospital Namar, a couple delivered after delay in pregnancy of 13-year

Rescuing an elderly patient after diagnosis and treatment of dissecting aortic aneurysm and expansion
A 78-year-old patient was transferred to the intensive care unit of a hospital after experiencing severe abdominal and back pain. He was diagnosed at the time with dissecting aortic aneurysm (type b), and it was found that he did not receive proper support for his condition.The treatment plan for the patient included taking necessary precautions to protect the spinal cord. The medical team had to overcome the challenge that the stents needed to be lined and long, which posed a high risk of increasing pressure on the spinal cord, potentially leading to paralysis in the patient's limbs.The patient was transferred to the International Medical Center for its experienced medical teams and availability of modern technologies qualified to handle difficult and complex cases. The patient was...
June 14, 2023

Rescuing an elderly patient after diagnosis and treatment of dissecting aortic aneurysm and expansion

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