Diriyah Company Signs MoU with Deutschland Technology to Elevate Safety Standards in Development Projects

The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah - SPA
The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah - SPA
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Diriyah Company Signs MoU with Deutschland Technology to Elevate Safety Standards in Development Projects

The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah - SPA
The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah - SPA

Diriyah Company said it has entered into a memorandum of understanding (MoU) with Deutschland Technology to enhance fire safety standards and procedures across various development projects, including heritage sites, tourism, and cultural destinations in Diriyah.
This collaboration addresses construction and development challenges while aligning with the Kingdom's Vision 2030 goals, according to a press release issued by the company on Sunday.
"The MoU underscores Diriyah Company's commitment to consistently improve safety best practices, prioritizing the highest protection standards," the statement said.
According to the release, in recent years, Diriyah Company has achieved significant safety milestones, such as receiving approval from TUV Austria, an international accreditation authority specializing in testing, inspection, conformity, and quality assurance. This recognition affirms that Diriyah Company's occupational health and safety management system meets ISO 45001 standards.
Diriyah Company GCEO Jerry Inzerillo said: "This is a significant moment for our development projects as Diriyah is committed to the most stringent health and safety standards, and we look forward to enhancing them further through this agreement with Deutschland Technology's capabilities and expertise in fire safety."
The MoU involves training, information sharing, studies, research, and staying updated on the latest developments in fire safety. Additionally, it includes leveraging Deutschland Technology's expertise in research and development to create innovative solutions for enhanced protection.
The partnership aims to deliver tangible outcomes that will positively impact the community in accordance with Diriyah Company's established mechanisms and systems. It focuses on enhancing the capabilities and skills of management and employees in emergency response and fire prevention. The collaboration will also extend to volunteer initiatives within the Diriyah community, including workshops on fire safety education designed to raise awareness among residents about fire safety measures and practices, inspiring a safer and more secure community.
The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah, a city of immense historical significance as one of the most prominent historical sites in Saudi Arabia and the capital of the First Saudi State.
Diriyah Company is dedicated to showcasing the city's rich history and cultural heritage through careful urban planning and vibrant cultural initiatives. It aims to provide a unique and enriching experience by collaborating closely with governmental and private entities. Diriyah strives to serve the community, promote development, and contribute to cultural and economic progress.
With over 20 years of expertise in fire safety and 12 branches worldwide, Deutschland Technology perfectly aligns with Diriyah Company's unwavering commitment to safety. The development and implementation of an occupational health and safety management system across Diriyah upholds international standards and ensures ongoing compliance. This strategy gives stakeholders, employees, and partners confidence in Diriyah Company's dedication to maintaining the highest safety standards in all its operations.



Salesforce Gains as Software Firm Bets on AI Tools to Power Growth

The Salesforce logo is pictured on a building in San Francisco, California, US October 12, 2016. REUTERS/Lily Jamali/File Photo Purchase Licensing Rights
The Salesforce logo is pictured on a building in San Francisco, California, US October 12, 2016. REUTERS/Lily Jamali/File Photo Purchase Licensing Rights
TT

Salesforce Gains as Software Firm Bets on AI Tools to Power Growth

The Salesforce logo is pictured on a building in San Francisco, California, US October 12, 2016. REUTERS/Lily Jamali/File Photo Purchase Licensing Rights
The Salesforce logo is pictured on a building in San Francisco, California, US October 12, 2016. REUTERS/Lily Jamali/File Photo Purchase Licensing Rights

Shares of Salesforce gained more than 5% on Thursday as investors cheered the customer relationship management software maker's upbeat quarterly results and its artificial intelligence push to drive growth.

The company has been heavily investing to integrate its AI technologies into existing products, such as its messaging platform Slack, to enhance their capabilities and attract more customers.

"We continue to see Salesforce as an under-appreciated AI winner as its differentiated data and early success in creating/deploying GenAI agents," Reuters quoted Goldman Sachs analyst Kash Rangan as saying.

Wall Street was concerned that tempered cloud spending would affect Salesforce in a tough economy, but the software-as-a-service (SaaS) firm reported better-than-expected revenue, profit and margins in the second quarter.

Salesforce also raised its profit forecast for the year ending January 2025, as margins continue to expand, thanks to its restructuring efforts last year.

The stock is trading at 24.49 times that of Wall Street's profit expectations, compared with 52.11 for SaaS peer ServiceNow and cloud contact center firm Five9's 13.30.

Salesforce is set to add $14 billion to its market capitalization if premarket gains hold. The company's valuation stood at $248 billion as of Wednesday's close.

"We think these results alone are not good enough to drive a sustainable rally from here. For that, we need more catalysts, which could come with the new AI solutions," which are set to be showcased at its event Dreamforce and launched in October, Barclays analyst Raimo Lenschow said.

Some analysts believe that sustained growth in the coming quarters can come through customer support platform Agentforce, which is not yet commercially available.