Siemens Energy Saudi Arabia Managing Director Urges Increased Investment in Arab Power Networks

Mahmoud Sulaimani, Managing Director of Siemens Energy Saudi Arabia (Asharq Al-Awsat)
Mahmoud Sulaimani, Managing Director of Siemens Energy Saudi Arabia (Asharq Al-Awsat)
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Siemens Energy Saudi Arabia Managing Director Urges Increased Investment in Arab Power Networks

Mahmoud Sulaimani, Managing Director of Siemens Energy Saudi Arabia (Asharq Al-Awsat)
Mahmoud Sulaimani, Managing Director of Siemens Energy Saudi Arabia (Asharq Al-Awsat)

Mahmoud Sulaimani, Managing Director of Siemens Energy Saudi Arabia, is urging Arab countries to boost investments in power plants to better handle future challenges.
Speaking to Asharq Al-Awsat, Sulaimani addressed worries about increased load shedding during this summer and its economic effects.
“We need to invest more to ensure our networks can efficiently and reliably deliver electricity now and in the future,” he said.
Many Arab nations are struggling with frequent power outages due to high summer demand. Countries like Kuwait, Egypt, Iraq, Yemen, Sudan, Lebanon, and Syria are facing serious crises. Recently, Egypt improved its situation by securing fuel for its power stations.
Sulaimani stressed the need for strategic partnerships among Arab nations.
“These partnerships are essential for better resource management and finding joint solutions. We need reforms, investment in technology, and regional cooperation to tackle these challenges,” he explained.
In Yemen, outages can last up to 12 hours daily; Iraq sees up to 10 hours, while Sudan experiences between 10 to 14 hours. In Lebanon, outages range from 12 to 20 hours, and Syria faces 10 to 20 hours.
Kuwait experiences 2 to 3 hours, while Egypt had outages of up to 3 hours before resolving its issues.
Sulaimani emphasized the importance of updating infrastructure.
“Modern power plants are much more efficient, reducing fuel use and emissions while minimizing downtime. Embracing smart technologies allows energy systems to work better together, improving efficiency and stability,” he noted.
Sulaimani warns that as Arab countries expand their energy systems to include wind, solar, hydroelectric, and nuclear sources, they will face new challenges.
Many Arab nations have ambitious plans for secure energy supplies, but short-term issues—like securing fuel for power stations and updating old infrastructure—can hinder progress.
Despite these challenges, the long-term strategy for many countries focuses on boosting renewable energy production in their overall energy mix.



Trump Launches His Own Meme Coin, Value Soars

US President-elect Donald Trump views fireworks at Trump National Golf Club Washington DC in Sterling, Virginia, US, January 18, 2025. (Reuters)
US President-elect Donald Trump views fireworks at Trump National Golf Club Washington DC in Sterling, Virginia, US, January 18, 2025. (Reuters)
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Trump Launches His Own Meme Coin, Value Soars

US President-elect Donald Trump views fireworks at Trump National Golf Club Washington DC in Sterling, Virginia, US, January 18, 2025. (Reuters)
US President-elect Donald Trump views fireworks at Trump National Golf Club Washington DC in Sterling, Virginia, US, January 18, 2025. (Reuters)

US President-elect Donald Trump has launched his own cryptocurrency, appropriately called $TRUMP, sparking feverish buying that sent its market capitalization soaring on Saturday to several billion dollars.

In a message posted on his Truth Social platform and X, Trump unveiled the so-called meme coin, which is designed to capitalize on the popularity of a certain personality, movement or viral internet trend.

Meme coins have no economic or transactional value, and are often seen as a means of speculative trading.

"This Trump Meme celebrates a leader who doesn't back down, no matter the odds," says the coin's official site, which makes reference to the assassination attempt against the Republican in July 2024.

In the hours following the overnight launch, the crypto community posed questions about the legitimacy of the $TRUMP coin, and its actual link to the president-elect, with some fearing a scam.

But the fact that the announcements came on Trump's official social media channels seemed to reassure the market, as did the fact that Trump has used one of the companies behind the project, CIC Digital LLC, in the past to sell non-fungible tokens (NFTs).

By mid-morning on Saturday, the market capitalization for $TRUMP stood at nearly $6 billion.

Neither Trump nor the company managing the launch, Fight Fight Fight LLC, offered details about how much he made from the initial batch of meme coins released.

The coin's official site said 200 million meme coins were issued, with Fight Fight Fight saying an additional 800 million would be added over the next three years.

At the current rate, the coins not yet on the market would be worth about $24 billion.

Initially opposed to cryptocurrency, Trump made a sharp about-face during his 2024 presidential campaign, becoming a champion of the concept and promising to develop the sector, notably by loosening regulations.

Before this new announcement, businessmen linked to Trump had in October put online a crypto platform called World Liberty Financial.