MODON Receives International Accreditation

 Bandar Al-Khorayef, minister of Industry and Mineral Resources and chairman of the Board of Directors of MODON, received the EFQM accreditation during a ceremony on Tuesday. (Asharq Al-Awsat)
Bandar Al-Khorayef, minister of Industry and Mineral Resources and chairman of the Board of Directors of MODON, received the EFQM accreditation during a ceremony on Tuesday. (Asharq Al-Awsat)
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MODON Receives International Accreditation

 Bandar Al-Khorayef, minister of Industry and Mineral Resources and chairman of the Board of Directors of MODON, received the EFQM accreditation during a ceremony on Tuesday. (Asharq Al-Awsat)
Bandar Al-Khorayef, minister of Industry and Mineral Resources and chairman of the Board of Directors of MODON, received the EFQM accreditation during a ceremony on Tuesday. (Asharq Al-Awsat)

The Saudi Authority for Industrial Estates and Technology Zones (MODON) received an accreditation certificate from the European Foundation for Quality Management (EFQM), for the four-star category, for applying quality and institutional excellence concepts.

MODON is working to create the appropriate infrastructure to encourage local and international factories to access the Saudi market and invest in an enabling environment, where the concepts of quality and institutional excellence are applied.

The minister of Industry and Mineral Resources and chairman of the Board of Directors of MODON, Bandar Al-Khorayef, received the accreditation certificate during a ceremony on Tuesday.

MODON said in statement that the European certification of excellence crowned the authority’s efforts over an entire year.

It added that MODON has also set the goal of applying a management business model consistent with global best practices in the field of quality and institutional excellence, in a way that contributes to enhancing the confidence of local and international partners, in line with the objectives of the National Industrial Strategy.

MODON’s efforts also fall within its objectives to improve the general performance indicators according to scientific bases, and to achieve the aspirations of its partners in creating an exemplary investment environment characterized by sustainability and integration, within the framework of its strategy to empower the industry and contribute to increasing local content.

The EFQM Model is a globally recognized management framework that supports organizations in managing change and improving performance.

The model is based on data supported by industry experts in line with organizations’ goals and priorities, and employees’ aspirations, in a bid to realize effective and sustainable results and institutional excellence.

EFQM is a non-profit institution that seeks to increase the competitiveness of the economy, and help it reach excellence performance and corporate business.



US Crypto Stocks Plunge as Bitcoin Hits New 2025 Low

Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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US Crypto Stocks Plunge as Bitcoin Hits New 2025 Low

Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

US-listed shares of crypto companies tumbled before the markets opened on Monday, mirroring a sharp drop in bitcoin as escalating tariff tensions and fears of a global trade war triggered a broad retreat from risk assets.

Bitcoin fell as much as 5.5% on Monday to hit its lowest in 2025, and was last trading 2.1% lower.

Corporate bitcoin holder Strategy fell more than 10% in premarket trading, while crypto exchange Coinbase dropped 7%.
Online brokerage Robinhood slid 10.5% after Barclays slashed its price target, citing concerns the crypto market turmoil could drag down the company's transaction revenue this quarter, Reuters reported.

Among the miners, MARA Holdings slumped 11% while CleanSpark dropped 10%.

GameStop, the videogame retailer that last month approved the addition of bitcoin as a treasury reserve asset, fell about 4%.

Though not directly hit by tariffs, crypto firms are still getting hammered as the steepest trade barriers in over a century sap investor sentiment across markets.