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Saudi Digital Authority to Augment Investment in Govt Technology

Saudi Arabia establishes the Digital Government Authority (DGA)… Saudi Minister of Communications and Information Technology Abdullah al-Swaha in the upper left portrait | Asharq Al-Awsat
Saudi Arabia establishes the Digital Government Authority (DGA)… Saudi Minister of Communications and Information Technology Abdullah al-Swaha in the upper left portrait | Asharq Al-Awsat
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Saudi Digital Authority to Augment Investment in Govt Technology

Saudi Arabia establishes the Digital Government Authority (DGA)… Saudi Minister of Communications and Information Technology Abdullah al-Swaha in the upper left portrait | Asharq Al-Awsat
Saudi Arabia establishes the Digital Government Authority (DGA)… Saudi Minister of Communications and Information Technology Abdullah al-Swaha in the upper left portrait | Asharq Al-Awsat

Saudi Cabinet approval on Tuesday for the establishment of the Digital Government Authority (DGA) is expected to raise the kingdom’s place in the UN e-government ranking by adopting digital transformation in government services on a par with international standards.

Abdullah al-Swaha, the Saudi minister of communications and information technology and chairman of the National Digital Transformation Unit, told Asharq Al-Awsat that the historic move will provide integrated and seamless digital proactive services.

The DGA, according to al-Swaha, will help in achieving key objectives, most important of which is augmenting returns on government digital assets and investments. It will also work on developing the digital capabilities and talents of public sector employees.

The minister added that the authority opens up new horizons in digital government services through proactive and integrated digital services, especially that the world became more reliant on digital transformation as a pillar for success in 2020.

Mansur al-Obaid, head of the information and communications committee at the Riyadh Chamber of Commerce and Industry, said the DGA will be able to unite efforts under rich initiatives for digital transformation.

Today, Saudi Arabia has over 1,500 government websites that offer a range of 4,000 e-services, al-Obaid noted.

DGA will help prepare a national e-government strategy and organize the work of digital government, including platforms, websites, services, and e-government networks.

This comes in line with Saudi Vision 2030, which aims to improve the Kingdom’s ranking to be among the top five countries in e-governance by 2030.

According to al-Obaid, the DGA will improve the experience of clients and users, increase efficiency rates, and attract investments at a higher rate.

Al-Obaid added that the authority will enhance mechanisms adopted by government agencies and help achieve sustainability by stimulating creativity and promoting innovative work models.

The scope of DGA’s work will encompass vital sectors like education, health, and transportation.

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Israeli-Iranian Escalation Rattles Arab Markets, Egypt Hit Hardest

A trader at the Egyptian stock exchange in Cairo (Reuters)
A trader at the Egyptian stock exchange in Cairo (Reuters)
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Israeli-Iranian Escalation Rattles Arab Markets, Egypt Hit Hardest

A trader at the Egyptian stock exchange in Cairo (Reuters)
A trader at the Egyptian stock exchange in Cairo (Reuters)

The escalating conflict between Israel and Iran cast a heavy shadow over Arab financial markets on Sunday, triggering sharp selloffs, particularly in the Gulf. Investors fled risk amid fears of a prolonged confrontation, though some analysts pointed to potential recoveries in select regional markets should oil prices continue to rise.

Oil surged on Friday as Israel launched strikes against Iranian targets, with prices jumping as much as 13%. Global financial institutions now expect further increases if hostilities persist. JPMorgan forecasts oil could hit $130 per barrel, while Rystad Energy projects prices may soar to $150.

Israel’s strikes reportedly targeted nuclear facilities and ballistic missile factories inside Iran. Tehran retaliated with attacks on Israeli territory and canceled nuclear talks slated for Sunday, negotiations that the US described as the only viable path to halting Israel’s bombing campaign.

Gulf stock markets reacted immediately. The Saudi market, the region’s largest, fell 1%, hitting a 12-month low, with bank stocks leading the decline. Al Rajhi Bank dropped 1.5%, dragging the main index lower. The market had initially plunged by nearly 3.8% before trimming losses after Aramco shares rose 2%.

Qatar’s benchmark index tumbled 3.2%, its steepest one-day drop since April, with every listed company ending in the red. Qatar National Bank, the Gulf’s largest lender, declined 4.2%, while Qatar Gas Transport Company lost 3.3%.

Kuwait’s stock exchange posted its worst daily performance since April, with the premier market index sliding 3.9%, its sharpest drop since April 6.

Markets in the UAE, which operate on Fridays, were among the first to react to the conflict. Abu Dhabi’s index fell 1.34%, while Dubai’s dropped 1.87% during Friday trading. Oman’s Muscat Stock Exchange declined 0.87%, and Bahrain’s bourse slid 0.81%.

Egypt, already grappling with economic challenges, saw its main index plummet 7% at the start of Sunday’s session before paring losses to close down 4.6%. The sharp decline was driven by a wave of regional selling as investors assessed the broader implications of a potential war in the Middle East.