Saudi Arabia to Launch LEAP Conference on Tuesday

A general view of the Saudi capital, Riyadh. (Getty Images)
A general view of the Saudi capital, Riyadh. (Getty Images)
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Saudi Arabia to Launch LEAP Conference on Tuesday

A general view of the Saudi capital, Riyadh. (Getty Images)
A general view of the Saudi capital, Riyadh. (Getty Images)

LEAP, the global technology platform, will kick off in Saudi Arabia on Tuesday with the participation of more than 350 speakers from 80 countries and 700 innovators and start-ups from around the world.

Saudi Arabia will host the LEAP conference to address future challenges by consolidating its digital regional and global leadership.

The Ministry of Communications and Information Technology (MCIT) and the Federation for Cybersecurity, Programming, and Drones will organize the event.

The conference is in line with Crown Prince Mohammed bin Salman's drive to seize opportunities in the digital economy and enhance the Kingdom's global leadership as the regional hub for technology, innovation, and digital entrepreneurship.

Many major international companies announced their intention to participate in the LEAP conference to review the latest technologies in several technical fields that contribute to achieving Saudi digital leadership.

VMware will showcase its newest innovations in multi-cloud, application modernization, digital workspace, and security at LEAP.

It will offer solutions that enable organizations to thrive in the face of current challenges by embracing a multi-cloud approach that provides the flexibility to deploy modern applications and empower a secure, distributed workforce while retaining ownership and control over their data.

It will also highlight how it protects clients with a "zero trust" approach to security, end-to-end solutions, and new endpoint management capabilities utilizing a single agent and console, allowing companies to operate more quickly and effectively.

Logitech will demonstrate a range of high-quality video collaboration solutions at its pavilion in LEAP.

It will showcase its technology and how video collaboration solutions can support hybrid working models and transform industries, such as education and healthcare, while increasing customer and employee satisfaction and assisting organizations in fostering workplace diversity.

Meanwhile, a YouGov survey conducted by SAP Software Solutions revealed that nearly 92 percent of Saudi Arabia's government IT decision-makers agree that the COVID-19 pandemic has accelerated the Kingdom's digital transformation over the past year.

In terms of the top priority areas for Saudi government organizations' digital investment in 2022 and beyond, 67 percent said human capital management, 61 percent said enterprise resource planning, 56 percent said core solutions, and 41 percent said customer experience.

Many of the Kingdom's government and public sector organizations are at the forefront of implementing new solutions as emerging technologies grow and mature.

Saudi Arabia will host LEAP between Feb. 1 and 3 to address future challenges such as healthcare technologies to improve the quality of life and increase life expectancy, empowering humans through robots and technologies.

It will review the most prominent technologies in the education sector, the creative economy, and showcase technologies that enhance the well-being of communities.

It will address future energy technologies that will enhance the region's leadership in the oil and gas sectors and the impact of technology on the development of energy sources.

Saudi Arabia will address future challenges by consolidating its digital regional and global leadership.

Held under the theme "One Eye on the Stars," LEAP seeks to discuss the most prominent social and cultural challenges facing the world through modern technologies, which have the potential to reshape the way people live and find appropriate and innovative solutions for them.



OPEC+ Agrees to Delay October Oil Output Hike for 2 Months

FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
TT

OPEC+ Agrees to Delay October Oil Output Hike for 2 Months

FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

OPEC+ has agreed to delay a planned oil output increase for October and November, the producers group said on Thursday after crude prices hit their lowest in nine months, adding that it could further pause or reverse the hikes if needed.
Oil prices have been falling along with other asset classes on concerns about a weak global economy and soft data from China, the world's biggest oil importer.
Eight members of OPEC+, which is made up of the Organization of the Petroleum Exporting Countries and allies led by Russia, that had been scheduled to raise output from October held a virtual meeting on Thursday, OPEC said in a statement, according to Reuters.
"The eight participating countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024," OPEC said.
The news lifted oil prices by over $1 a barrel, with Brent futures trading over $74 before paring gains. It fell to its lowest this year on Wednesday.
OPEC+'s planned October hike was for 180,000 bpd, a fraction of the 5.86 million bpd of output it is holding back, equal to about 5.7% of global demand, to support the market due to uncertainty about demand and rising supply outside the group.
Last week, OPEC+ was set to proceed with the increase. But fragile oil market sentiment over the prospect of more supply from OPEC+ and an end to a dispute halting Libyan exports, coupled with a weakening demand outlook, raised concern within the group, sources said.
OPEC+ ministers hold a full meeting of the group to decide policy on Dec. 1. A group of top OPEC+ ministers called the Joint Ministerial Monitoring Committee that can recommend changes gathers on Oct. 2.