‘Altibbi’ CEO to Asharq Al-Awsat: Telehealth Projects to Produce Leap in Arab Primary Care Systems

Altibbi CEO Jalil Labadi (Asharq Al-Awsat)
Altibbi CEO Jalil Labadi (Asharq Al-Awsat)
TT

‘Altibbi’ CEO to Asharq Al-Awsat: Telehealth Projects to Produce Leap in Arab Primary Care Systems

Altibbi CEO Jalil Labadi (Asharq Al-Awsat)
Altibbi CEO Jalil Labadi (Asharq Al-Awsat)

The advancement of private sector digital technologies and the creation of pro-investment legislative environments are vital to the modern-day healthcare industry, according to Altibbi CEO Jalil Labadi.

After the coronavirus pandemic experience, the importance of expanding investment in telemedicine has become evident, noted Labadi, adding that Arab governments need to work towards expediting relevant legislation.

“The Arab market is huge, and it needs to activate the role of modern technologies, such as medical platforms and health applications,” said Labadi, explaining that competition in the telehealth industry remains low compared to demand.

In an interview with Asharq Al-Awsat, Labadi recommended that Arab governments reduce procedural and legal complications and shift towards accelerating the establishment of telemedicine projects.

Demand for digital healthcare has grown in recent years, with the coronavirus pandemic providing a significant boost as lockdowns forced people to depend on remote medical services.

During the pandemic, many governments and health ministries in Arab countries, such as Egypt and Jordan, worked closely together to help connect patients to healthcare providers. Giant call centers were established.

According to Labadi, telehealth projects’ most prominent challenges are talent scarcity and a lack of highly qualified cadres.

Combining the latest technologies, AI developments, big data, communication skills, and proper employment is vital to “solving yesterday’s problems with tomorrow’s ideas,” he noted.

Labadi stressed that facilitating telehealth projects will produce a leap in the primary health system in the region’s countries and help solve many problems facing the Arab health sector.

Saudi Arabia is heading toward significant transformation in its “primary care” project, noted Labadi, adding that the trend in the Kingdom will see lowering pressure on hospitals, shortening waiting queues, and swiftly connecting patients to high-quality general practitioners.

Founded in 2011, Altibbi is one of the region’s largest digital health companies. It offers around 4.5 million medical consultations each month.



Gold Jumps, on Track for Best Week in Over a Year on Safe-haven Demand

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
TT

Gold Jumps, on Track for Best Week in Over a Year on Safe-haven Demand

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold prices rose over 1% to hit a two-week peak on Friday, heading for the best weekly performance in more than a year, buoyed by safe-haven demand as Russia-Ukraine tensions intensified.

Spot gold jumped 1.3% to $2,703.05 per ounce as of 1245 GMT, hitting its highest since Nov. 8. US gold futures gained 1.1% to $2,705.30.

Bullion rose despite the US dollar hitting a 13-month high, while bitcoin hit a record peak and neared the $100,000 level.

"With both gold and USD (US dollar) rising, it seems that safe-haven demand is lifting both assets," said UBS analyst Giovanni Staunovo.

Ukraine's military said its drones struck four oil refineries, radar stations and other military installations in Russia, Reuters reported.

Gold has gained over 5% so far this week, its best weekly performance since October 2023. Prices have gained around $173 after slipping to a two-month low last week.

"We understand that the price setback has been used by 'Western world' investors under-allocated to gold to build exposure considering the geopolitical risks that are still around. So we continue to expect gold to rise further over the coming months," Staunovo said.

Bullion tends to shine during geopolitical tensions, economic risks, and a low interest rate environment. Markets are pricing in a 59.4% chance of a 25-basis-points cut at the Fed's December meeting, per the CME Fedwatch tool.

However, "if Fed skips or pauses its rate cut in December, that will be negative for gold prices and we could see some pullback," said Soni Kumari, a commodity strategist at ANZ.

The Chicago Federal Reserve president reiterated his support for further US interest rate cuts on Thursday.

On Friday, spot silver rose 1.8% to $31.34 per ounce, platinum eased 0.1% to $960.13 and palladium fell 0.6% to $1,023.55. All three metals were on track for a weekly rise.