Ƶ

Human capability key to navigating global shifts, says Saudi education minister

Human capability key to navigating global shifts, says Saudi education minister
Yousef Al-Benyan, who also chairs the executive committee of the Human Capability Development Program, opened the Human Capabilities Initiative in Riyadh by stressing the central role of human development in national resilience and growth. AN Photo
Short Url
Updated 13 April 2025

Human capability key to navigating global shifts, says Saudi education minister

Human capability key to navigating global shifts, says Saudi education minister

RIYADH: Ƶ’s education minister called for a fundamental rethink of how nations develop human capital, warning that demographic shifts, technology, and global volatility demand long-term investment in skills and values.  

Yousef Al-Benyan, who also chairs the executive committee of the Human Capability Development Program, opened the Human Capabilities Initiative in Riyadh by stressing the central role of human development in national resilience and growth. 

“Our world is evolving faster than ever, driven by technological leaps, environmental sustainability, challenges, and also demographic shifts and global uncertainties,” Al-Benyan said.  

“Yet, amidst these complexities, one important constant remains: human capability, the boundless potential of our people,” he added. 

He underscored the need for lifelong learning and a transformative approach to education that prioritizes future-ready skills, curriculum reform, and teacher development. “We need to define the future roles of teachers — whether they remain a delivery model or transition into facilitators,” he said. 

Al-Benyan also underscored that building human capability is essential to fostering skills, knowledge, and values. This, he suggested, empowers individuals to lead productive lives and equips future generations to meet challenges ahead. 




On the opening day of the Human Capabilities Initiative, education ministers and policymakers discussed how technology and curriculum reform can shape the future of education. AN Photo

Policymakers discuss education 

On the opening day of the Human Capabilities Initiative, education ministers and policymakers discussed how technology and curriculum reform can shape the future of education.

During a panel discussion titled “Activating and Expanding Human Potential from Preparation to #BeyondReadiness,” Al-Benyan stressed the critical role of human development in achieving national ambitions.    

“We want to have an ambitious nation and a thriving economy. If you want to achieve this destination, the only way is to focus on human development,” he said. 

Al-Benyan emphasized the importance of current and future generations and called for an evolving education system. “Our vision is not only to meet market needs but also to make sure that our education system, and more importantly, the higher education system, creates a new industry that can create new jobs,” he added.  

The minister also stressed the need for curriculum reforms, stating: “We need to start also from changing the curriculum and make sure it has the proper focus on developing the skills requirement.” 

He also underscored the need for regular performance assessments in education, diversity, leadership, and the evolving role of teachers. “We need to define the future roles of teachers — whether they remain as a delivery model or transition into facilitators,” he said. 

UAE’s AI strategy 

Sarah Bint Yousef Al-Amiri, UAE’s minister of education, shared insights on integrating artificial intelligence into education. “We have invested quite extensively well over a decade in EdTech (education technology). Our EdTech has integrated AI capabilities to provide a personalized learning experience within the classroom,” she said.  

Al-Amiri urged policymakers to rethink education strategies around AI. “Our paradigm shift is not to think of AI as another EdTech tool but to evolve our education policy development centered around the human,” she explained. She also advocated for lifelong learning, stating: “We need to look at the education process as continuous, and not disruptive or disconnected.” 

Maldives’ tech solutions 

Maldives’ Minister of State for Higher Education Ahmed Shafeeu detailed the challenges of delivering education across dispersed islands. “We have about 200 islands where people live, while we have over 1,200 islands altogether. This creates many challenges,” he said.  

The Maldives’ early adoption of technology was crucial during the pandemic. “In 2017, we made sure that we provided one tablet to every student in the Maldives, and it came as a blessing when COVID hit us,” Shafeeu noted. 

He also highlighted remote teaching solutions to address teacher shortages, with technology helping bridge gaps in subjects like physics and biology.  

The minister emphasized sustainability in education, saying: “What we do within the curriculum is help students understand sustainable lifestyles.”   

The discussions at the Human Capabilities Initiative underscore the need for adaptive, technology-driven, and lifelong learning approaches to education. These strategies ensure that nations can navigate future challenges while unlocking the full potential of their people. 


PIF’s EA deal: What’s happening behind the scenes in esports?

PIF’s EA deal: What’s happening behind the scenes in esports?
Updated 21 October 2025

PIF’s EA deal: What’s happening behind the scenes in esports?

PIF’s EA deal: What’s happening behind the scenes in esports?

RIYADH: Just weeks after the conclusion of the second edition of the Esports World Cup, the Saudis were ready for the next step. 

In late September, the Public Investment Fund, along with investment partners, acquired the American video game company Electronic Arts for $55 billion, a deal considered one of the largest in the sector.

Riyadh is now given the key to entering global markets, bringing it closer than ever to achieving its goals, particularly those related to attracting tourists from Japan and South Korea, historical leaders in this sector.

The most prominent outcome of this deal is that Ƶ will benefit from the EA player base, estimated at around 150 million annually, given that the company develops the most popular games such as FIFA and F1. 

It will be easy for the Kingdom to organize tournaments with exclusive rights within the Esports World Cup to attract all these people to the Riyadh Boulevard in Hittin over the next few years.

Ƶ’s influence and confident steps toward digital sports leadership have worried some American politicians, including Senators Richard Blumenthal and Elizabeth Warren. 

They sent a letter to the Committee on Foreign Investment in the US Treasury Department demanding strict scrutiny of the deal, arguing that it goes beyond a financial investment to influence storytelling and content, which they say influences American culture. 

EA responded that the deal has been approved and aims to accelerate innovation and growth in the entertainment industry, according to PC Gamer, a British magazine specializing in the video game industry.

Ƶ’s passion is relentless. The latest edition of the Esports World Cup saw the Saudi Tourism Authority join as an official partner, capitalizing on the tournament’s audience of 3 million visitors. 

Meanwhile, the General Entertainment Authority installed giant interactive sculptures of famous characters such as Gundam and Vegapunk in Boulevard World during the Riyadh Season, seeking to attract Asian audiences through various entertainment experiences such as Anime Cafes, Japan Park, and a Kanji calligraphy experience.

Here’s the question: Will the number of tourists coming to Ƶ from Asian capitals such as Beijing, Bangkok, and Manila, as well as Taipei, Singapore, and New Delhi, increase before the start of the 2027 AFC Asian Cup and the 2034 World Cup?

Faisal bin Homran, chief product officer at eSports World Cup Foundation, confirms that their strategy with clubs encourages fans from their home countries to come to Riyadh as part of an integrated sports, tourism, and entertainment journey. 

The latest club tournament generated 350 million viewing hours, with prizes exceeding $70 million, the largest prize pool in the history of the global eSports sector.

Further fueling the growth are the combined efforts of partners in China, Japan, Germany, and the US ahead of the inaugural eSports National Team Cup in Riyadh in November 2026. 

Bin Hamran believes the sustainability of the game lies in enhancing it with artificial intelligence technologies and increasing viewership, despite challenges such as differing audience tastes, the decline of some games among citizens of different countries, and the time difference between the East and West. 

All of these obstacles are fading thanks to the continued support and attention of Crown Prince Mohammed bin Salman.

The eSports sector aims to contribute $13 billion to Ƶ’s GDP by 2030. Bin Hamran believes that current planning will lead to amazing future results, not only in terms of sporting enjoyment, but also in terms of financial outcomes. 

He said: “Most of the current targets have been achieved, and most of the revenues come from partnerships, viewership, visitors, tickets, sponsorship rights, advertising, promotional merchandise, and fees from game-producing companies.

“Profits will double and increase in the coming years. Our goal is to double viewership, follow-up, and participants, while increasing the value of the game’s brand for sponsors and advertisers.”

Sports fans are wondering about the possibility of creating a global game that reflects Saudi identity after the sovereign wealth fund acquired EA. 

Bin Hamran told Al-Eqtisadiah: “It is possible, as the company owns the largest international studios, and there are ongoing discussions with other studios, which will undoubtedly develop local content played by hundreds of millions around the world. 

“Also, electronic game publishers are racing to open headquarters and studios with the latest technology in Riyadh, with financial investments pumped into them under the umbrella of major partnerships. It is sufficient that the national strategy for games aims to provide more than 39,000 job opportunities over five years.”


Closing Bell: Saudi main index closes in red at 11,546 

Closing Bell: Saudi main index closes in red at 11,546 
Updated 21 October 2025

Closing Bell: Saudi main index closes in red at 11,546 

Closing Bell: Saudi main index closes in red at 11,546 

RIYADH: Ƶ’s Tadawul All Share Index slipped on Tuesday, falling 98.75 points, or 0.85 percent, to close at 11,545.80. 

The benchmark index recorded a total trading turnover of SR4.91 billion ($1.31 billion), with 35 stocks advancing and 221 declining. 

The Kingdom’s parallel market Nomu also shed 149.66 points, or 0.59 percent, to close at 25,072.11. 

Meanwhile, the MSCI Tadawul Index fell 0.73 percent to 1,507.47. 

Al Majed Oud Co. was the best-performing stock on the benchmark index, as its share price increased by 3.36 percent to SR135.20. 

The share price of Americana Restaurants International rose 2.40 percent to SR2.13. 

Arabian Contracting Services Co. also saw its stock price climb by 1.79 percent to SR108.10. 

Conversely, the share price of Yamama Cement Co. declined by 9.99 percent to SR28.46. 

On the announcements front, Alinma Bank reported a net profit of SR4.67 billion for the first nine months of 2025, up 8.61 percent compared to the same period of the previous year. 

In a Tadawul statement, the financial institution attributed this rise to growth in financing and investments volume. Its third-quarter net profit rose 1.30 percent year on year to SR1.59 billion. 

Alinma Bank’s share price declined 0.53 percent to SR26.20. 

Bank Aljazira also released its results, reporting a nine-month net profit of SR1.14 billion, a 20.42 percent increase from the previous year. 

According to a Tadawul statement, this rise in profit was driven by a higher income from financing and investments, which increased as a result of portfolio growth. 

The financial institution’s third-quarter profit stood at SR400.1 million, marking an increase of 20.82 percent compared to the same period in 2024. 

The share price of Bank Aljazira dropped by 1.85 percent to SR12.72. 


Goldman Sachs expands wealth management in Ƶ, targeting ultra-rich 

Goldman Sachs expands wealth management in Ƶ, targeting ultra-rich 
Updated 21 October 2025

Goldman Sachs expands wealth management in Ƶ, targeting ultra-rich 

Goldman Sachs expands wealth management in Ƶ, targeting ultra-rich 

RIYADH: Goldman Sachs is expanding its wealth management division in Ƶ, the bank said, as global financial firms increase their presence in the Middle East’s largest economy.  

The New York-based banking giant has launched the first phase of its private banking services locally, Al-Eqtisadiah reported. The expansion will enhance operations from its Riyadh office, where the US lender has maintained a presence for over a decade. 

The expansion comes after Goldman Sachs became the first major international investment bank to receive a regional headquarters license in Ƶ last year. 

In a statement, Rob Mullane, co-head of private wealth management for the EMEA region at Goldman Sachs, said: “Ƶ has an exceptionally dynamic economy and a highly sophisticated investor base.”

He added that the bank plans to offer both “local and global investment opportunities” for regional clients. 

The license aligns with Saudi authorities’ ongoing efforts to attract more foreign companies to establish regional hubs in the Kingdom, as part of the broader economic diversification plan under Vision 2030. 

Goldman Sachs’ expansion is part of a wider trend of global financial firms scaling up operations across the Middle East. This growth is largely driven by the region’s vast concentration of capital, including sovereign wealth funds and wealthy families managing more than $1 trillion in assets. 

While Ƶ and the UAE remain the primary focus, other Gulf nations, such as Qatar, are also taking steps to attract international financial institutions. 

The move positions Goldman Sachs to directly serve ultra-high-net-worth individuals and families in Ƶ and across the Middle East, tapping into one of the world’s most significant pools of private capital. 


PIF’s Soudah Development partners with FII Institute to boost sustainable tourism 

PIF’s Soudah Development partners with FII Institute to boost sustainable tourism 
Updated 21 October 2025

PIF’s Soudah Development partners with FII Institute to boost sustainable tourism 

PIF’s Soudah Development partners with FII Institute to boost sustainable tourism 

RIYADH: Ƶ’s Public Investment Fund–owned Soudah Development has signed a strategic partnership with the Future Investment Initiative Institute to advance sustainable investment and tourism in the Aseer region. 

The collaboration, unveiled ahead of the FII9 conference in Riyadh from Oct. 27 to 30, will see both entities cooperate on thought leadership programs, global forums, and innovation initiatives aimed at promoting environmental responsibility and community development, the company said in a statement. 

Established in 2021, the company aims to develop Soudah and parts of Rijal Almaa into a world-class luxury mountain tourism destination, emphasizing authentic cultural experiences and immersion in nature in line with Saudi Vision 2030. 

Ƶ’s tourism sector has exceeded expectations, hitting its original Vision 2030 target of 100 million visitors seven years early, and now aims for 150 million tourists by the end of the decade. 

Richard Attias, chairman of the executive committee and acting CEO of the FII Institute, said: “Tourism is a powerful engine for economic growth and cultural exchange, but its future depends on regenerative approaches that restore ecosystems, empower communities, and preserve authenticity.”  

He added: “Together, we aim to demonstrate how tourism can be both a driver of prosperity and a catalyst for long-term resilience.” 

The partnership underscores the FII Institute’s focus on sustainable investment and supports Soudah Development’s efforts to advance tourism and economic growth 

“Ƶ is accelerating the realization of Vision 2030, and Soudah Development is proud to be contributing through Soudah Peaks, the Kingdom’s first luxury mountain destination,” said Saleh Aloraini, CEO of Soudah Development. 

He added: “As a strategic partner of FII Institute, we are showcasing how this flagship project is driving the development of the Aseer region, attracting investment, and advancing the Kingdom’s economic diversification agenda.” 


Madinah advances development projects worth over $53bn 

Madinah advances development projects worth over $53bn 
Updated 21 October 2025

Madinah advances development projects worth over $53bn 

Madinah advances development projects worth over $53bn 

RIYADH: Ƶ’s Madinah region is advancing more than 224 development projects valued at over SR200 billion ($53 billion), underscoring the Kingdom’s accelerating investment drive, according to a new report. 

Data released by the Al-Madinah Al-Munawara Chamber showed that the region’s real estate market recorded transactions exceeding SR2.7 billion in the first quarter of 2025, reflecting an annual growth of about 8 percent. 

Madinah has emerged as one of Ƶ’s fastest-growing regional economies, driven by major investments in construction, trade, and tourism. In 2025, the region recorded strong first-quarter growth, with construction accounting for 24 percent of the workforce and trade for 20 percent, reflecting ongoing diversification efforts. 

“These investments are diversified across various economic sectors such as trade, tourism, construction, transportation, health, education, and others,” the report said. 

It added: “The projects are expected to contribute to providing more than 125,000 direct job opportunities, a major development the region is witnessing.” 

The chamber also highlighted promising investment opportunities in the Investors’ Zone, reflecting optimism about Madinah’s long-term growth prospects across trade, logistics, technology, and real estate. 

The report reaffirmed the chamber’s commitment to providing detailed analytical insights to help businesses make informed strategic decisions. These insights, backed by comprehensive data, aim to foster regional economic growth and align with the objectives of Vision 2030. 

In February, the Madinah Region Development Authority reported improvements in quality of life, economic growth, and cultural initiatives. The region ranked 88th globally in Euromonitor International’s 2024 Top 100 City Destinations Index and seventh in the Tourism Performance Index, with 3,200 sites listed in the National Urban Heritage Register. 

Ƶ has also eased restrictions on foreign ownership in real estate, allowing international investors to purchase shares in listed firms that hold property in Makkah and Madinah — a move expected to attract additional capital inflows into the region. 

In August, a Knight Frank report noted that Madinah led the Kingdom in growth, with residential transactions in the holy city surging 49 percent year on year to SR3.4 billion, while volumes climbed 38 percent. 

Large-scale, government-backed projects are also reshaping the urban landscapes of Makkah and Madinah, enhancing their livability and appeal to residents and pilgrims alike, while advancing Ƶ’s broader tourism and economic development objectives.