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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)
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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.

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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)

The United States on Thursday called on Israel to extend its cooperation with Palestinian banks for another year, to avoid blocking vital transactions in the occupied West Bank.

"I am glad that Israel has allowed its banks to continue cooperating with Palestinian banks, but I remain convinced that a one-year extension of the waiver to facilitate this cooperation is needed," US Treasury Secretary Janet Yellen said Thursday, on the sidelines of a meeting of G20 finance ministers in Rio de Janeiro.

In May, Israeli Finance Minister Bezalel Smotrich threatened to cut off a vital banking channel between Israel and the West Bank in response to three European countries recognizing the State of Palestine.

On June 30, however, Smotrich extended a waiver that allows cooperation between Israel's banking system and Palestinian banks in the occupied West Bank for four months, according to Israeli media, according to AFP.

The Times of Israel newspaper reported that the decision on the waiver was made at a cabinet meeting in a "move that saw Israel legalize several West Bank settlement outposts."

The waiver was due to expire at the end of June, and the extension permitted Israeli banks to process payments for salaries and services to the Palestinian Authority in shekels, averting a blow to a Palestinian economy already devastated by the war in Gaza.

The Israeli threat raised serious concerns in the United States, which said at the time it feared "a humanitarian crisis" if banking ties were cut.

According to Washington, these banking channels are key to nearly $8 billion of imports from Israel to the West Bank, including electricity, water, fuel and food.