SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity
TT

SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

Saudi Basic Industries Corporation (SABIC) has introduced a series of smart techniques and practices that help farmers enhance efficiency, production and profits.

This presentation was made during the company's participation in the 25th Arab Fertilizer Forum and Exhibition that concluded in Cairo on Thursday.

SABIC showcased the pioneering researches at its subsidy Estidamah Agricultural Research Center in Riyadh, established in 2008. Raddy Alfaridi, Director of Communications, Marketing and Public Affairs at the center, presented a lecture on Estidamah researches regarding the efficiency of water usage in modern agricultural greenhouses.

This falls in line with the center’s efforts in increasing production to promote food security in the Kingdom through its research on conditions most suitable for crops.

The company also shed light on its guiding agricultural convoy in which more than 7,000 farmers from around 120 sites in the MENA region took part last year.

This event was launched end of 2018 in cooperation with the Arab Fertilizer Association, the Saudi Ministry of Environment, Water and Agriculture, and relevant departments to enrich the technical knowledge of farmers.

Engineer Samir Al-Abdrabbuh, Agri-Nutrients Executive Vice President, affirmed that SABIC has been working for the past 25 years with the Arab Fertilizer Association and its farmer members to face modern agricultural challenges and to enhance the food supplies in MENA and the world.

Abdrabbuh noted that the company’s scientists continue to develop innovative solutions to increase crops.

He added that SABIC’s contributions are not restricted to lab experiments but extend to the exchange of expertise.

SABIC dedicates time and efforts for visiting fields, communicating with farmers and helping them acquire the required skills and benefit from the company’s solutions, said Abdrabbuh.

The 25th Arab Fertilizer Forum and Exhibition saw the attendance of more than 500 officials from 130 organizations from 30 states.



Russia is Using Bitcoin, Digital Currencies in Foreign Trade

FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
TT

Russia is Using Bitcoin, Digital Currencies in Foreign Trade

FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Sanctions have complicated Russia's trade with its major partners such as China or Türkiye, as local banks are extremely cautious with Russia-related transactions to avoid scrutiny from Western regulators, according to Reuters.

This year, Russia permitted the use of cryptocurrencies in foreign trade and has taken steps to make it legal to mine cryptocurrencies, including bitcoin. Russia is one of the global leaders in bitcoin mining.

“As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions),” Siluanov told Russia 24 television channel.

“Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year,” he said, adding that international payments in digital currencies represent the future.

Earlier this month, President Vladimir Putin said that the current US administration was undermining the role of the US dollar as the reserve currency by using it for political purposes, forcing many countries to turn to alternative assets.

He singled out bitcoin as an example of such assets, saying that no-one in the world could regulate bitcoin. Putin's remarks indicated that the Russian leader backs the extensive use of cryptocurrencies.