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Google Cloud Boasts Consistent Service Across Region, US

CEO of Google Cloud Thomas Kurian (Google)
CEO of Google Cloud Thomas Kurian (Google)
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Google Cloud Boasts Consistent Service Across Region, US

CEO of Google Cloud Thomas Kurian (Google)
CEO of Google Cloud Thomas Kurian (Google)

Google Cloud CEO Thomas Kurian, speaking to Asharq Al-Awsat on the sidelines of the “Google Cloud Next ‘24” event in Las Vegas, affirmed that Google Cloud’s presence in Saudi Arabia, Qatar, and Kuwait sets it apart from its digital cloud competitors.

Kurian pointed out that the services offered by his company in those countries are the same as those provided in the US, ensuring global consistency and uniformity.

He noted that while some other service providers offer similar services, not all are available in these countries compared to Google Cloud.

Kurian emphasized that Google Cloud provides a “grocery store” of choices catering to the diverse needs of businesses, stressing that a one-size-fits-all artificial intelligence model won't suffice, as companies require a cloud platform offering multiple services to tailor to their specific needs.

Meanwhile, Abdulrahman bin Mohammed Al-Thehaiban, the managing director of Google Cloud for the Middle East, Türkiye and Africa region (META), stated that artificial intelligence will revolutionize industries and businesses.

He highlighted that governments and organizations in the Middle East are reaping the full benefits of Google Cloud’s investments in artificial intelligence, particularly through its hubs in Dammam and Doha launched in May and November last year.

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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)

Saudi Arabia’s non-oil exports soared to a two-year high in May, reaching SAR 28.89 billion (USD 7.70 billion), marking an 8.2% year-on-year increase compared to May 2023.

On a monthly basis, non-oil exports surged by 26.93% from April.

This growth contributed to Saudi Arabia’s trade surplus, which recorded a year-on-year increase of 12.8%, reaching SAR 34.5 billion (USD 9.1 billion) in May, following 18 months of decline.

The enhancement of the non-oil private sector remains a key focus for Saudi Arabia as it continues its efforts to diversify its economy and reduce reliance on oil revenues.

In 2023, non-oil activities in Saudi Arabia contributed 50% to the country’s real GDP, the highest level ever recorded, according to the Ministry of Economy and Planning’s analysis of data from the General Authority for Statistics.

Saudi Finance Minister Mohammed Al-Jadaan emphasized at the “Future Investment Initiative” in October that the Kingdom is now prioritizing the development of the non-oil sector over GDP figures, in line with its Vision 2030 economic diversification plan.

A report by Moody’s highlighted Saudi Arabia’s extensive efforts to transform its economic structure, reduce dependency on oil, and boost non-oil sectors such as industry, tourism, and real estate.

The Saudi General Authority for Statistics’ monthly report on international trade noted a 5.8% growth in merchandise exports in May compared to the same period last year, driven by a 4.9% increase in oil exports, which totaled SAR 75.9 billion in May 2024.

The change reflects movements in global oil prices, while production levels remained steady at under 9 million barrels per day since the OPEC+ alliance began a voluntary reduction in crude supply to maintain prices. Production is set to gradually increase starting in early October.

On a monthly basis, merchandise exports rose by 3.3% from April to May, supported by a 26.9% increase in non-oil exports. This rise was bolstered by a surge in re-exports, which reached SAR 10.2 billion, the highest level for this category since 2017.

The share of oil exports in total exports declined to 72.4% in May from 73% in the same month last year.

Moreover, the value of re-exported goods increased by 33.9% during the same period.