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Saudi Arabia Boosts Operational Excellence Across Sectors

The second edition of the Operational Excellence Conference (OPEXKSA) kicked off in Riyadh on Dec. 12.
The second edition of the Operational Excellence Conference (OPEXKSA) kicked off in Riyadh on Dec. 12.
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Saudi Arabia Boosts Operational Excellence Across Sectors

The second edition of the Operational Excellence Conference (OPEXKSA) kicked off in Riyadh on Dec. 12.
The second edition of the Operational Excellence Conference (OPEXKSA) kicked off in Riyadh on Dec. 12.

Experts, both local and international, are emphasizing the significance of implementing operational excellence due to its pivotal role in enhancing the business sector.
This approach is deemed essential not only in various governmental and private entities but also in non-profit organizations.
Operational excellence is particularly crucial given the central role that digital transformation, along with the utilization of tools and artificial intelligence, plays in this realm.
The second edition of the Operational Excellence Conference (OPEXKSA) kicked off in Riyadh on Dec. 12.
The two-day conference was inaugurated by Eng. Abdulrahman Al-Fadli, the Minister of Environment, Water, and Agriculture.
The event witnessed the participation of more than 40 governmental bodies and local and international companies.
With over 120 local and international speakers, the conference delves into key topics related to the future of operations through 20 discussion sessions, complemented by 20 workshops aiming to elevate operational methodologies across various sectors.
Saline Water Conversion Corporation (SWCC) Governor Eng. Abdullah Ibrahim Al-Abdul-Karim, in his opening address at OPEXKSA, clarified that the rapid and evolving growth of the business sector in Saudi Arabia and globally necessitates discussions on operational methodologies aligned with the global transformation journey.
He highlighted that the application of operational excellence plays a fundamental role in enhancing businesses and elevating them to advanced competitive levels.
Moreover, Al-Abdul-Karim emphasized the urgent need for more creativity, innovation, and investment in operational aspects to enhance businesses across all sectors globally.
The governor noted that bringing together a select group of local and international experts in one place provides the opportunity for exchanging information, knowledge, and experiences.
This exchange enables the exploration of promising horizons and meets the goals and aspirations of service and industrial sectors, fostering resource and capability development.
Manal Almadi, SWCC Deputy Governor of Strategic Partnerships and Communication, told Asharq Al-Awsat that the operational excellence approach is one of the diverse working methodologies in the national transformation journey to achieve Saudi Arabia’s national transformation plan, “Vision 2030.”
In turn, Sultan Al-Rajhi, the official SWCC spokesperson, informed Asharq Al-Awsat that the conference will witness the signing of more than 15 agreements.
“These agreements will focus on training and experience exchange among governmental, private, and academic sectors globally,” affirmed Al-Rajhi.
He explained that the majority of these agreements fall within the framework of operational excellence, aiming to reinforce and solidify this concept.
The agreements also cover training programs and other sectors.

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British Assets Gain, Mid-cap Stocks Lead after Labour Election Win

A view of the Palace of Westminster which houses Britain's parliament, during the general election, in London, Britain, July 5, 2024. REUTERS/Hannah McKay Purchase Licensing Rights
A view of the Palace of Westminster which houses Britain's parliament, during the general election, in London, Britain, July 5, 2024. REUTERS/Hannah McKay Purchase Licensing Rights
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British Assets Gain, Mid-cap Stocks Lead after Labour Election Win

A view of the Palace of Westminster which houses Britain's parliament, during the general election, in London, Britain, July 5, 2024. REUTERS/Hannah McKay Purchase Licensing Rights
A view of the Palace of Westminster which houses Britain's parliament, during the general election, in London, Britain, July 5, 2024. REUTERS/Hannah McKay Purchase Licensing Rights

British domestic-focussed mid-cap stocks were the biggest gainers on Friday after the centre-left Labour Party surged to a comprehensive win in a parliamentary election with blue chip stocks, government bond prices and the pound higher.

Hopes that the incoming government will provide a period of economic stability after an often tumultuous 14 years of Conservative Party rule sent the FTSE 250 midcap index (.FTMC), up as much as 1.8% in early trading to its highest since April 2022.

The blue chip FTSE 100 index (.FTSE), was last up 0.2% and the yield on 10-year British government bonds or gilts, dropped 3 basis points to 4.17%, marginally better than other European markets, Reuters reported.

Labour won a massive majority in the 650-seat parliament while Rishi Sunak's Conservatives suffered the worst defeat in the party's long history as voters punished them for a cost of living crisis, failing public services, and a series of scandals.

"A landslide victory provides the sort of clarity and stability that equity markets need in an increasingly volatile world," said Ben Ritchie, head of developed market equities at abrdn.

"If the new government gets this right, businesses with significant exposure to the UK economy should be the likely winners - a shot in the arm in particular for companies in the FTSE 250 and FTSE Small Cap".

British home builders stood out, with an index tracking their shares up 2.3%.

"We think the formation of a Labour-majority government will have a positive impact on housebuilders and construction materials," said Aruna Karunathilake, portfolio manager at Fidelity.

"We expect Labour to reinstate housebuilding targets and perhaps also fund investment in local planning departments... That should alleviate builders’ concerns about planning bottlenecks impeding growth in the medium term."

Analysts at Goldman Sachs said that while Labour's manifesto policies imply relatively limited changes to fiscal policy they would modestly boost demand in the near term.

As a result, they raised their forecasts for British GDP growth by 0.1 percentage points in each of 2025 and 2026.