Saudi Arabia Hosts Landmark Events in Banking, Space Innovation, and Digital Leadership; Achieves High Rankings in UN Indices
Saudi Arabia to host Halo Space's pioneering test flight and launch Rafid program to boost industrial innovation.
Starting off with some exciting news in the banking sector, the 5th Annual Future Banks Summit & Awards KSA will take place on September 24-25 at the InterContinental Hotel in Riyadh. This event is set to gather over 200 local and regional leaders to discuss the latest in AI, data analytics, and digital payments, aiming to drive innovation and support Saudi Vision 2030.
Speaking of innovation, Saudi Arabia will soon host Halo Space's pioneering test flight for their full-size prototype capsule, Aurora, in late September. With the assembly and testing facilities established in the Kingdom, the unmanned flight will take place at an altitude of 30 km in the desert near Layla, supporting Saudi Arabia's goals for economic diversification and technological advancement under Vision 2030.
Meanwhile, in financial markets, the Tadawul All Share Index (TASI) saw a positive bump, gaining 18.29 points to close at 11,885.66. This comes as AlBilad Investment Co.'s Hong Kong-China equity ETF gets approval to list on the Saudi Stock Exchange, and the Saudi Investment Bank announces plans for a significant sukuk program.
Shifting gears to industrial innovation, Saudi Arabia's Ministry of Industry and Mineral Resources has launched the Rafid program, which aims to boost industrial innovation and automation by 2035. By leveraging AI, 3D printing, and robotics, this program seeks to increase the number of factories to 36,000, with 4,000 fully automated, expanding collaboration with local universities and technical colleges.
On the global stage, Saudi Arabia has emerged as a leader in digital services, ranking fourth in the United Nations digital services index. Celebrating a significant leap in the UN E-Government Development Index, the Kingdom also ranked high among G20 countries, thanks to substantial reforms and investments in digital government services under Vision 2030.
Wrapping up with a heartfelt story, Lt. Gen. Fahd Al-Salman, Commander of the Saudi Joint Forces, visited soldiers injured during operations in Yemen at Prince Sultan Military Medical City in Riyadh. He praised their bravery and dedication, reassuring them of the leadership's appreciation and wished them a speedy recovery. The soldiers expressed their readiness to return to duty and pride in serving the nation.