Saudi Arabia Launches First Regional Program for Electronic Chips

The Saudi Semiconductor Program aims to support research, development and qualification of human cadres in the field of designing and localizing electronic chips. (Photo: Asharq Al-Awsat)
The Saudi Semiconductor Program aims to support research, development and qualification of human cadres in the field of designing and localizing electronic chips. (Photo: Asharq Al-Awsat)
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Saudi Arabia Launches First Regional Program for Electronic Chips

The Saudi Semiconductor Program aims to support research, development and qualification of human cadres in the field of designing and localizing electronic chips. (Photo: Asharq Al-Awsat)
The Saudi Semiconductor Program aims to support research, development and qualification of human cadres in the field of designing and localizing electronic chips. (Photo: Asharq Al-Awsat)

The King Abdulaziz City for Science and Technology (KACST) announced on Wednesday the launch of the Saudi Semiconductor Program - the first of its kind in the region – which is aimed at supporting research, development and qualification of human cadres in the field of designing and localizing electronic chips.

President of the City of Science and Technology Dr. Mounir El-Desouky inaugurated the Future of Semiconductors Forum - an event organized by KACST and King Abdullah University of Science and Technology (KAUST) - with the participation of Dr. Shuji Nakamura, Nobel Prize winner in physics and specialist in semiconductor technologies, and Dr. Omar Yaghi, winner of the King Faisal Prize in 2015 and the Albert Einstein International Prize for Science in 2017, and Dr. David Ruchien Liu, winner of the King Faisal Prize in Medicine for Gene Editing Technique.

The inauguration ceremony was also attended by the winners of the same prize in the field of science this year, Dr. Nader Masmoudi and Dr. Martin Heyer, as well as a number of local and international experts.

The program aims to conduct scientific research in electronic chip technologies, and qualify human cadres in the field of design and production to support the localization of the semiconductor industry in the Kingdom.

Addressing the forum, Saeed Alshihri, Director of Materials Science Research Institute at KACST, stressed that the localization of the electronic chip and semiconductor industry would contribute to achieving the goals of the Vision 2030 programs.

“Semiconductor technologies are changing the world as they form the basis of vital fields such as energy, sensors, and information technology, and the foundation of the third and fourth industrial revolutions,” he stated.

The forum will continue its work on Friday with three sessions discussing automotive and space electronics, photovoltaic efficiency, sensors and micro-electromechanical systems.

On Wednesday, agreements were signed between a number of government, private and international entities, to promote and localize the semiconductor industry in the Kingdom.



Oil Prices Hold Steady on Support from US-China Trade Hopes

 FILE PHOTO: A pump jack operates near a gas turbine power plant in the Permian Basin oil field outside of Odessa, Texas, US February 18, 2025.  REUTERS/Eli Hartman/File Photo
FILE PHOTO: A pump jack operates near a gas turbine power plant in the Permian Basin oil field outside of Odessa, Texas, US February 18, 2025. REUTERS/Eli Hartman/File Photo
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Oil Prices Hold Steady on Support from US-China Trade Hopes

 FILE PHOTO: A pump jack operates near a gas turbine power plant in the Permian Basin oil field outside of Odessa, Texas, US February 18, 2025.  REUTERS/Eli Hartman/File Photo
FILE PHOTO: A pump jack operates near a gas turbine power plant in the Permian Basin oil field outside of Odessa, Texas, US February 18, 2025. REUTERS/Eli Hartman/File Photo

Oil prices held steady on Thursday, supported by hopes of a breakthrough in looming trade talks between the US and China, the world's two largest oil consumers. Brent crude futures were up 43 cents, or 0.7%, at $61.55 a barrel, while US West Texas Intermediate crude rose 49 cents, or 0.8% to $58.56 a barrel at 0803 GMT.

The market has almost stabilized at slightly above $61 a barrel, said SEB analyst Ole Hvalbye, which along with some optimism around the current tariff situation with talks due between the US and China, was providing support.

US Treasury Secretary Scott Bessent will meet with China's top economic official on May 10 in Switzerland for negotiations over a trade war that is disrupting the global economy. The countries are the world's two largest economies and the fallout from their trade dispute is likely to lower crude consumption growth. At the same time, the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will increase its oil output, adding to pressure on prices.

Analysts at Citi Research lowered their three-month price forecast for Brent to $55 per barrel from $60 earlier, but maintained its long-term forecast of $60 a barrel this year.

A US-Iran nuclear deal could drive Brent prices down towards $50 per barrel on increased supply in the market, but if no deal were to happen, prices could go up to over $70, they added.

Overnight, the US Federal Reserve left the policy rate unchanged, but highlighted the risks of higher inflation and unemployment.

"The Fed signaled that rates will likely remain on hold until the effects of tariffs become clearer. This boosted the US dollar, which added to headwinds facing the broader commodity markets," said ING analysts in a report on Thursday.