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CEO of Zain Saudi Arabia Sultan Al-Deghaither Passes Away

Eng. Sultan Al-Deghaither (Asharq Al-Awsat)
Eng. Sultan Al-Deghaither (Asharq Al-Awsat)
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CEO of Zain Saudi Arabia Sultan Al-Deghaither Passes Away

Eng. Sultan Al-Deghaither (Asharq Al-Awsat)
Eng. Sultan Al-Deghaither (Asharq Al-Awsat)

The CEO of Zain Saudi Arabia, Eng. Sultan Al-Deghaither, passed away on Monday, leaving behind an unforgettable legacy in the sector and the development of the digital economy.

Al-Deghaither, who served as CEO for six years, achieved the company’s financial and operational transformation by eliminating over SAR2 billion ($532.6 million) in accumulated losses and tripling its market capitalization.

The man is credited for leading many projects that enabled Zain to become the largest telecommunications company in the Kingdom. He also played a pivotal role in developing and expanding the company's networks within the Kingdom. Under his leadership, Zain Saudi Arabia succeeded in 2019 in launching the largest fifth generation (5G) network in the Middle East, Europe and Africa, and the fourth largest network in the world.

Al-Deghaither set a clear vision for Zain’s business sector, which has witnessed significant development driven by qualitative investments in innovative technologies, digital solutions and services that range from cloud computing to future 5G applications, including the Internet of Things, Artificial Intelligence, Blockchain, and drones.

Al-Deghaither managed the process of transforming Zain Saudi Arabia from a telecommunications company into an integrated system of digital services, which constituted a basis for the emergence and growth of many new technology sectors in the Kingdom.

He also served as the managing director of Tamam Finance Co. Ltd, where his expertise helped create a success story in the fintech space.

Under his leadership, Zain Saudi Arabia steered the field of sustainability at various levels. Last year, in the presence of Crown Prince Mohammed bin Salman, the company signed an agreement with the Sharek Program Center to open hyperscale data centers. It also launched the world’s first carbon-free 5G network at the Six Senses Southern Dunes desert resort in the Red Sea destination.

Ranked among the best 300 CEOs in the telecommunications sector by MENA TRNDS, Al-Deghaither held a bachelor’s degree in telecommunications and electrical engineering from King Saud University and an advanced management program degree from IESE Business School in Spain.

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Bangladesh Garment Factories Reopen after Sheikh Hasina’s Flight

Garment factory workers break for lunch, in Dhaka on August 7, 2024 (AFP)
Garment factory workers break for lunch, in Dhaka on August 7, 2024 (AFP)
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Bangladesh Garment Factories Reopen after Sheikh Hasina’s Flight

Garment factory workers break for lunch, in Dhaka on August 7, 2024 (AFP)
Garment factory workers break for lunch, in Dhaka on August 7, 2024 (AFP)

Garment factories in Bangladesh, forecast to account for 90% of the country's exports, reopened on Wednesday hoping to swiftly resume full operations after production was disrupted by violent protests that ousted Prime Minister Sheikh Hasina this week.

Hasina resigned and fled the country on Monday after around 300 people were killed and thousands injured in a crackdown on student-led protests since July.

Garment and textile factories which supply major western brands such as H&M, Zara and Carrefour had been forced to shut under curfews imposed during the unrest.

"We lost a total of four days, it is too early to make an estimate of the loss. There was little physical damage to factories," Miran Ali, vice president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told Reuters.

"I am hopeful that in the next few days, we will see complete normalization," he said. "I'm confident our buyers will stand by our side."

He added that H&M, which sources garments from about 1,000 factories in Bangladesh, had already said it would not seek discounts due to the delays. The world's second largest fashion retailer had said it was concerned about developments in Bangladesh.

At a factory belonging to apparel maker Urmi Garments in Dhaka, the mainly female employees were back operating sewing machines.

"We went out of work, sitting idle at home. We were scared. We are poor people depending on daily wages and overtime. If we sit back home, how can we run our families?" 38-year old Razia Begum, an employee at the factory, told Reuters.

Factory manager Emdadul Haq said the factory had lost 228,000 pieces of production worth $107,000. In all, Urmi, which counts H&M, Japan's Uniqlo and Britain's Marks and Spencer among its clients, had lost about $2.2 million across three units, he said.

The International Monetary Fund expects the ready-made garments industry will account for 90% of Bangladesh's $55 billion annual exports in the financial year 2024.

Bangladesh was the third-largest exporter of clothing in the world last year, after China and the European Union, according to the World Trade Organization. Nearly half of its exports in the July 2023-May 2024 period were to the EU, worth $21.65 billion.