Global AI Summit Brings Together Experts, Decision-Makers in Riyadh

A Saudi woman tries out one of the new technologies at the Global AI Summit in 2022. (SPA)
A Saudi woman tries out one of the new technologies at the Global AI Summit in 2022. (SPA)
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Global AI Summit Brings Together Experts, Decision-Makers in Riyadh

A Saudi woman tries out one of the new technologies at the Global AI Summit in 2022. (SPA)
A Saudi woman tries out one of the new technologies at the Global AI Summit in 2022. (SPA)

The Global AI (GAIN) Summit will kick off in Riyadh on Tuesday under the patronage of Prince Mohammed bin Salman, Crown Prince, Prime Minister and Chairman of the Saudi Data and Artificial Intelligence Authority (SDAIA).

The summit, organized by SDAIA, will feature 456 speakers from 100 countries and is expected to draw 32,000 attendees. Experts said the event will focus on the regulation and ethics of AI, with hopes of advancing “responsible AI.”

Mark Minevich, an American expert the President of Going Global Ventures, member of board of directors of Intentional Data Centers Authority and Sr Fellow of US Council on Competitiveness, Strategic Advisor Mayfield Venture Capital, told Asharq Al-Awsat that GAIN will be a key event for launching AI-driven solutions and supporting economic and sustainable development.

Minevich, who has authored “Our Planet Powered by AI,” said the third edition of the summit is crucial as it will gather AI leaders to discuss important topics. He praised Saudi Arabia’s focus on “AI for Humanity” and its advancements in multi-modal AI, AI-supported healthcare, and smart city projects like NEOM.

At the summit, Minevich will stress the importance of AI governance, innovation, and strategic deployment. He noted that the event provides a global platform to explore how institutions can use AI responsibly while adhering to ethical and regulatory standards.

He also highlighted that Saudi Arabia’s efforts in AI, including its focus on AI talent and open-source tools, are positioning it as a leader in the field. These initiatives are expected to attract new investments and partnerships, contributing to the Kingdom’s Vision 2030 goals.

He noted that Saudi Arabia’s use of AI in energy and sustainability are making it a key hub for foreign investment. He expects the summit to boost efforts in economic diversification.

He also predicted that AI will create high-skill jobs and advance sectors like healthcare and finance. These initiatives, aligned with Vision 2030, will improve Saudi Arabia’s global competitiveness and drive innovation in AI industries.

Sheikh Abdullah Zaid Al-Meleihi, chairman of Al-Ramez International Group and CEO of its subsidiary, Saudi Excellence Co., told Asharq Al-Awsat that the GAIN Summit will set up a global platform to show Saudi Arabia’s commitment to using AI for economic diversification and tech leadership.

He viewed the summit as a major step in Saudi Arabia’s goal to lead in AI. The event will highlight the Kingdom’s progress in AI infrastructure, innovation, and its digital ecosystem aligned with Vision 2030.

Key topics will include AI integration in projects like NEOM, improvements in data infrastructure, and AI advancements in healthcare, energy, and urban development.

Al-Meleihi noted that a key challenge is meeting the demand for scalable infrastructure while ensuring energy efficiency. He expected the summit to create partnerships that drive innovation in various sectors and support Vision 2030 goals by promoting economic diversification and technological leadership.



Stocks Drop, Oil Rises after Trump Iran Threat

Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP
Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP
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Stocks Drop, Oil Rises after Trump Iran Threat

Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP
Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP

Most Asia equities fell and oil prices rose on Friday after Donald Trump ratcheted up Middle East tensions by hinting at possible military strikes on Iran if it did not make a "meaningful deal" in nuclear talks.

The remarks fanned geopolitical concerns and cast a pall over a tentative rebound in markets following an AI-fueled sell-off this month.

Traders are also looking ahead to the release of US data later in the day that will provide a fresh snapshot of the world's top economy, said AFP.

A slew of forecast-beating figures over the past few days have lifted optimism about the outlook but tempered expectations for more interest rate cuts.

The US president told the inaugural meeting of the "Board of Peace", his initiative to secure stability in Gaza, that Tehran should make a deal.

"It's proven to be over the years not easy to make a meaningful deal with Iran. We have to make a meaningful deal otherwise bad things happen," he said, as he deployed warships, fighter jets and other military hardware to the region.

He warned that Washington "may have to take it a step further" without any agreement, adding: "You're going to be finding out over the next probably 10 days."

Israeli Prime Minister Benjamin Netanyahu earlier warned: "If the ayatollahs make a mistake and attack us, they will receive a response they cannot even imagine."

The threats come days after the United States and Iran held a second round of Omani-mediated talks in Geneva as Washington looks to prevent the country from getting a nuclear bomb, which Tehran says it is not pursuing.

The prospect of a conflict in the crude-rich Middle East has sent oil prices surging this week, and they extended the gains Friday to sit at their highest levels since June.

Equity traders were also spooked.

Hong Kong fell as it reopened from a three-day break, while Tokyo, Sydney, Wellington and Bangkok were also down. However, Seoul continued to rally to a fresh record thanks to more tech buying, with Singapore, Manila and Mumbai also up.

City Index market analyst Matt Simpson said a strike was not certain.

"At its core, this looks like pressure and leverage rather than a prelude to invasion," he wrote.

"The US is pairing military readiness with stalled nuclear negotiations, signaling it has credible strike options if talks fail. That doesn't automatically translate into boots on the ground or a regime-change campaign.

"While military assets dominate headlines, diplomacy is still in motion. The fact talks are continuing at all suggests both sides are still probing for a diplomatic off-ramp before tensions harden further."

Shares in Jakarta slipped even after Trump and Indonesian President Prabowo Subianto reached a trade deal after months of wrangling.

The accord sets a 19 percent tariff on Indonesian goods entering the United States. The Southeast Asian country had been threatened with a potential 32 percent levy before the pact.

Jakarta also agreed to $33 billion in purchases of US energy commodities, agricultural products and aviation-related goods, including Boeing aircraft.


Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
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Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)

The third edition of the “Mirkaz ABalad AlAmeen”, a leading platform for exchanging opportunities in Makkah, will kick off on Sunday, under the theme “Makkah Inspires the World.”

The platform, organized by the Holy Makkah Municipality, will feature 15 exceptional Ramadan evenings focused on dialogue, knowledge exchange, and cross-sector engagement.

Makkah Mayor Musad Aldaood said the platform redefines development from Makkah, where faith meets inspiration and values are transformed into a comprehensive civilizational experience.

He noted that the initiative reflects the ambitions of Saudi Vision 2030 and showcases Makkah to the world as a living model of creativity, leadership, and innovation.

The upcoming edition will host more than 65 speakers, including executive leaders and decision-makers from across all three sectors, alongside futurists, entrepreneurs, and leading voices in culture and inspiration from artists, writers, media professionals, and innovators.

The program targets 12 key sectors: technology and digital transformation, financial investment, communications and media, real estate development, transport and logistics, banking services, youth and sports, tourism and culture, hospitality and catering, Hajj and Umrah, the third sector, and healthcare.


Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
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Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)

The Saudi Ports Authority (Mawani) granted on Thursday a unified license to international shipping line Global Shipping Line (PIL), officially recognizing it as an authorized foreign investor to operate maritime agencies in the Kingdom's ports, reported the Saudi Press Agency.

The license is issued in accordance with the regulations outlined in the Maritime Agency Services, reflecting Mawani's commitment to boosting the efficiency of the maritime sector and improving the quality of operational services provided at ports.

It aims to attract global expertise and facilitate knowledge transfer within the Kingdom, aligning with international best practices in the maritime transport industry.

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector.

PIL, which operates from its regional headquarters in Riyadh, manages operations in 29 countries.

The move strengthens the Kingdom's position as a crucial logistics hub, in line with the National Transport and Logistics Strategy, while attracting more international shipping lines. It reinforces Saudi Arabia's role as a key link among three continents.