First Saudi Chief Executives Association

First Saudi Chief Executives Association
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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.



World Bank Raises China's GDP Forecast for 2024, 2025

World Bank Raises China's GDP Forecast for 2024, 2025
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World Bank Raises China's GDP Forecast for 2024, 2025

World Bank Raises China's GDP Forecast for 2024, 2025

The World Bank raised on Thursday its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year.
The world's second-biggest economy has struggled this year, mainly due to a property crisis and tepid domestic demand. An expected hike in US tariffs on its goods when US President-elect Donald Trump takes office in January may also hit growth.
"Addressing challenges in the property sector, strengthening social safety nets, and improving local government finances will be essential to unlocking a sustained recovery," Mara Warwick, the World Bank's country director for China, said.
"It is important to balance short-term support to growth with long-term structural reforms," she added in a statement.
Thanks to the effect of recent policy easing and near-term export strength, the World Bank sees China's gross domestic product growth at 4.9% this year, up from its June forecast of 4.8%.
Beijing set a growth target of "around 5%" this year, a goal it says it is confident of achieving.
Although growth for 2025 is also expected to fall to 4.5%, that is still higher than the World Bank's earlier forecast of 4.1%.
Slower household income growth and the negative wealth effect from lower home prices are expected to weigh on consumption into 2025, the Bank added.
To revive growth, Chinese authorities have agreed to issue a record 3 trillion yuan ($411 billion) in special treasury bonds next year, Reuters reported this week.
The figures will not be officially unveiled until the annual meeting of China's parliament, the National People's Congress, in March 2025, and could still change before then.
While the housing regulator will continue efforts to stem further declines in China's real estate market next year, the World Bank said a turnaround in the sector was not anticipated until late 2025.
China's middle class has expanded significantly since the 2010s, encompassing 32% of the population in 2021, but World Bank estimates suggest about 55% remain "economically insecure", underscoring the need to generate opportunities.