Saudi Arabia Ranks 1st among G20 in Digital Competitiveness

A night view of Riyadh, Saudi Arabia. (AFP)
A night view of Riyadh, Saudi Arabia. (AFP)
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Saudi Arabia Ranks 1st among G20 in Digital Competitiveness

A night view of Riyadh, Saudi Arabia. (AFP)
A night view of Riyadh, Saudi Arabia. (AFP)

Saudi Arabia ranked first among the G20 member states in digital competitiveness in the last three years, revealed the World Competitiveness Report, released by the European Center for Digital Competitiveness.

The report was based on the World Economic Forum's report in this regard.

Such an achievement is the product of the support and leadership of Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, Deputy Prime minister and Minister of Defense.

Their backing of the communications and information technology sector allowed the Kingdom to make a significant leap in digitally-administered infrastructure, promoting digital potentials and huge digital enterprises and projects and applying digital laws and regulations.

The report assessed the steps and achievements in the digital shift environment, including venture capital investments, ease of doing business and the digital skills of the youth. It also tackled readiness to adopt and adapt to the digital shift and innovation in the work force, readiness to lead with entrepreneur ventures, promote innovative ideas at businesses.



Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
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Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)

Bahrain’s Investcorp, a leading global alternative investment firm, announced on Monday a major change in its executive leadership team, saying that co-CEO Hazem Ben-Gacem will leave after 30 years as the company embarks on a major management reshuffle in an effort to boost returns.

In a statement, Investcorp said co-CEO Rishi Kapoor had been appointed vice chairman and chief investment officer while Executive Chairman Mohammed Alardhi would assume additional responsibilities previously undertaken by the co-CEOs.

The group has more than $52 billion in assets under management and is known for taking luxury brands public.

Ben-Gacem will leave Investcorp effective Nov. 1, but will continue as vice chairman of investment unit Investcorp Capital, the company said.

As part of the shake-up, Investcorp said it had consolidated and organized its investment activities in three units.

Dave Tayeh is taking the helm of Private Equity and Private Equity like, Herb Myers and Mike O'Brien will be in charge of Real Assets, and Jeremy Ghose will lead the Credit business.

Yusef Al-Yusef will be leading the Global Distribution Platform.

Mohammed Alardhi, Executive Chairman at Investcorp, said: “As we increase our focus on leveraging the strength of our existing investment platform, we recognize it is the right time to broaden our executive leadership to support our future growth plans.”

“Rishi and Hazem have helped lead our business from strength to strength in the last several years after we launched our growth journey,” he added.