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Saudi Arabia’s Monsha’at Partners with X to Support Digital Transformation

General Authority for Small and Medium Enterprises (Monsha’at) logo
General Authority for Small and Medium Enterprises (Monsha’at) logo
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Saudi Arabia’s Monsha’at Partners with X to Support Digital Transformation

General Authority for Small and Medium Enterprises (Monsha’at) logo
General Authority for Small and Medium Enterprises (Monsha’at) logo

Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) collaborated with X Development company during the Biban 24 forum to provide specialized training programs and innovative digital transformation solutions.
Representatives from Monsha’at and X signed the agreement, underscoring their commitment to advancing the digital business environment and empowering Small and Medium Enterprises (SMEs) to achieve their objectives under Vision 2030.
Through this partnership, Monsha’at aims to equip entrepreneurs and SMEs with essential digital skills and knowledge to enhance their market competitiveness and adapt to rapid changes in the business landscape.
The agreement facilitates SME access to cutting-edge technology solutions, boosting their ability to stay competitive and preparing them to meet evolving business challenges. It also establishes an innovative entrepreneurial ecosystem that supports digital transformation and offers comprehensive training opportunities for entrepreneurs. These programs combine practical training with technical support, promoting sustainable growth for the SME sector.

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Nintendo Cuts Annual Profit Forecast 10% as Switch Sales Slow

A staff member sorts products at the Nintendo store in Shibuya district in Tokyo November 5, 2024. (AFP)
A staff member sorts products at the Nintendo store in Shibuya district in Tokyo November 5, 2024. (AFP)
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Nintendo Cuts Annual Profit Forecast 10% as Switch Sales Slow

A staff member sorts products at the Nintendo store in Shibuya district in Tokyo November 5, 2024. (AFP)
A staff member sorts products at the Nintendo store in Shibuya district in Tokyo November 5, 2024. (AFP)

Nintendo cut on Tuesday its operating profit forecast for the year to March 2025 by 10% to 360 billion yen ($2.36 billion), as its ageing Switch console loses steam.

The latest forecast is below analyst estimates of a 391.4 billion yen profit.

The Kyoto-based gaming company sold 4.7 million Switch consoles in the first half of the financial year. That compares with 6.8 million units sold in the same period a year earlier.

Nintendo lowered its full-year sales forecast for the console, which is in its eighth year on the market, by 7% to 12.5 million units. That would be down 20% from actual Switch sales of 15.7 million units a year earlier.

It also revised down its annual software sales forecast by 3% to 160 million units.

"For a platform that is in its 8th year in the market, both hardware and software enjoy stable demand and brisk sales," Nintendo President Shuntaro Furukawa told an online press conference.

"But sales so far fell short of our original projections. Taking into consideration their sales in the first half, we revised our forecasts for both hardware and software, and that led to the earnings revision."

Furukawa said there was no change to Nintendo's plan to announce a successor to its long-lasting Switch console in the current financial year, but did not go into specifics.

Shares in Nintendo closed down 3.9% ahead of the earnings announcements, underperforming the Nikkei average's 1.1% gain.