First Saudi Chief Executives Association

First Saudi Chief Executives Association
TT

First Saudi Chief Executives Association

First Saudi Chief Executives Association

Saudi Minister of Human Resources and Social Development Engineer Ahmed al-Rajhi approved the establishment of the nation’s inaugural Chief Executives Association.

The Association, led by Mansour al-Shathri, has already convened its initial meeting to discuss various items on its agenda and outline its strategy for the upcoming phase.

The meeting discussed various topics, including an in-depth exploration of the Association’s working strategy for the forthcoming period.

Khalid al-Omar has been named the Chief Executive Officer and will be responsible for establishing the executive committee.

Shathri revealed that the newly established Association will serve as a professional corporation designed to facilitate the exchange of experience and knowledge and transfer best practices to enhance the capabilities and skills of its members.

The organization aims to foster increased communication with leaders across various sectors while contributing to the development of administration and leadership through local and international knowledge transfer.

He further stated that the Association is committed to engaging with leaders to give them opportunities to become active, effective, and influential members contributing to economic growth.

Shathri pointed out that the Association’s strategy is poised to achieve a set of objectives, including raising awareness about its field of work, transferring expertise, activating the role of CEOs in serving the Saudi business sector, launching initiatives, and establishing partnerships to secure a prestigious status for the Kingdom.

For his part, Omar clarified that the entity is the first Saudi Association specializing in gathering CEOs, noting that its primary goals include promoting positive administrative values encouraging creativity, innovation, commitment, achievement, empowerment, integrity, and openness.

The Association is also dedicated to providing professional development programs, conducting developmental studies and research on CEOs, hosting local and international executive leaders for knowledge transfer, and sharing expertise.

The newly-named CEO explained that the Association aims to be a distinguished and progressive local organization, delivering notable outcomes and adopting the best international practices in line with similar global associations.

Through its role, the Association plans to offer a range of specialized products and launch initiatives, develop partnerships with both public and private sectors, and bridge communication gaps to enhance efficiency and effectiveness.

He called on all executive leaders to join the Association, representing a core group of decision-makers in organizations and advancing development in the Kingdom through their specialized community.

Engagement is crucial for achieving strategic goals in experience exchange, inspiration from various experiences, overcoming challenges, disseminating knowledge, and creating enabling investment opportunities that positively impact the national economy.



Russia’s Inflation Reaches 9.5% This Year, Weekly Data Shows

 Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)
Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)
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Russia’s Inflation Reaches 9.5% This Year, Weekly Data Shows

 Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)
Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)

Russia's inflation has reached 9.5% this year, according to new weekly data showing that the consumer price index rose by 0.33% in the week leading up to Dec. 23, the statistical agency Rosstat reported on Wednesday.

This data follows the central bank's unexpected decision last week to maintain its key interest rate at 21%. The regulator said recent tightening has created conditions conducive to reducing inflation towards its target of 4%.

The agency indicated that seasonally volatile prices for fruit and vegetables contributed significantly to the overall increase, with cucumber prices rising by 8.3% and tomato prices by 1.9% in just one week.

Among less seasonally sensitive foods, the price of eggs increased by 1.7%, and frozen fish by 1.4%. The central bank had initially estimated this year's inflation at a maximum of 8.5%.

The central bank's monetary policy department's head Andrei Gangan told the Interfax news agency on Dec. 24 that full-year inflation will be between 9.6% and 9.8%.

Inflationary expectations among households for the coming year also reached 13.9% in December, the highest level since the beginning of the year.

In a report on its inflationary expectations survey, the central bank said respondents were most concerned about rising prices for milk, dairy products, eggs, meat, and fish.

It also said respondents have begun to notice increases in the prices of home appliances and electronic devices.