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Science, Engineering Exhibition Sheds Light on Saudi Innovations

A training camp for the Saudi National Science and Engineering Team in Riyadh. (Asharq Al-Awsat)
A training camp for the Saudi National Science and Engineering Team in Riyadh. (Asharq Al-Awsat)
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Science, Engineering Exhibition Sheds Light on Saudi Innovations

A training camp for the Saudi National Science and Engineering Team in Riyadh. (Asharq Al-Awsat)
A training camp for the Saudi National Science and Engineering Team in Riyadh. (Asharq Al-Awsat)

The Regeneron International Science and Engineering Fair (ISEF) has showcased the innovative ideas of 30 Saudi students.

ISEF 2021 is being held virtually in the US, with the participation of over 1,800 students from around the world showcasing their projects at the science fair.

King Abdul Aziz and His Companions Foundation for Giftedness and Creativity (Mawhiba) announced its sponsorship of the innovations in the energy field at ISEF 2021.

Saudi Arabia first participated in ISEF in 2007 and has since then won 48 major and 27 special prizes. In 2020, the Kingdom received eight prizes, including five major and three special prizes.

Saudi Minister of Energy Prince Abdulaziz bin Salman is set to meet virtually with a number of students from around the world that are taking part in this year’s edition.

In a statement, Mawhiba announced that it will present major prizes and sponsorships for the top four projects in the field of energy.

The foundation will also offer a number of special awards in the fields of science, technology, engineering, and mathematics (STEM), including 12 grants and 12 cash prizes.

The statement explained that the foundation’s sponsorship of ISEF’s energy field stems from Vision 2030 and its awareness of the important role Saudi Arabia plays as a major source of energy, and its efforts to continue sustainable development by preserving energy sources.

Mawhiba stated that the awards it offers to international talents at the ISEF 2021 exhibition reflect its vision and mission to make innovation a sustainable way to invest in human capabilities.

There is an increasing trend towards the production of more renewable energy, which is expected to account for 40 percent of the planet's energy by 2040, according to Mawhiba.

The Mawhiba Foundation has offered 79 special awards, totaling $269,000, for 97 international students at the ISEF over the past ten years.

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Technology

France’s Ubisoft Full-Year Net Bookings Fall 20.5%

A man passes by the main entrance of Ubisoft video firm company where a strike call is planned on February 14, 2024, in Montpellier, south of France, on February 13, 2024. (AFP)
A man passes by the main entrance of Ubisoft video firm company where a strike call is planned on February 14, 2024, in Montpellier, south of France, on February 13, 2024. (AFP)
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France’s Ubisoft Full-Year Net Bookings Fall 20.5%

A man passes by the main entrance of Ubisoft video firm company where a strike call is planned on February 14, 2024, in Montpellier, south of France, on February 13, 2024. (AFP)
A man passes by the main entrance of Ubisoft video firm company where a strike call is planned on February 14, 2024, in Montpellier, south of France, on February 13, 2024. (AFP)

France's largest video game maker Ubisoft on Wednesday posted a 20.5% fall in full-year net bookings as the company has faced issues with delayed releases and the underperformance of some of its leading titles.

The maker of the blockbuster franchise "Assassin's Creed" reported net bookings of 1.85 billion euros ($2.07 billion) for the year to March 31, slightly below its guidance of around 1.9 billion euros.

Ubisoft plans to announce a new overall group organization by the end of the year, with the objective to best serve player needs, deliver superior game quality and drive disciplined capital allocation, it said in a statement.

It expects full-year 2025-2026 stable net bookings year-on-year and roughly break-even non-IFRS operating income. Net bookings for the first quarter are forecast at 310 million euros.

Ubisoft also expects to return to positive non-IFRS operating income and free cash flow generation in 2026-2027, it said.

"After a review of our pipeline, we have decided to provide additional development time to some of our biggest productions to create the best conditions for success," CEO Yves Guillemot said in the statement.

As a result, he said, the next two years would see "significant content coming from our largest brands."

In March, the company faced a make-or-break moment with the launch of the newest instalment in "Assassin's Creed" franchise as the company grappled with falling revenue, a sinking stock price and takeover speculation.

"Aware of the challenges ahead, we took decisive steps to continue strengthening the company's future. The launch of 'Assassin's Creed Shadows' was a defining moment," Guillemot said.

The release had reaffirmed the power of the brand, he added, and had received a "highly favorable community response".

Ubisoft said that the game delivered the second-highest Day 1 sales revenue in franchise history and set a new record for Ubisoft's Day 1 performance on the PlayStation digital store.