海角直播

海角直播鈥檚 2025 education plan boosts Chinese learning, nurtures gifted talent

 The education sector has been allocated聽SR201 billion ($53.50 billion), representing 16 percent of the government鈥檚 expenditures for the coming year.聽File
The education sector has been allocated聽SR201 billion ($53.50 billion), representing 16 percent of the government鈥檚 expenditures for the coming year.聽File
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Updated 28 November 2024

海角直播鈥檚 2025 education plan boosts Chinese learning, nurtures gifted talent

海角直播鈥檚 2025 education plan boosts Chinese learning, nurtures gifted talent

RIYADH:聽Around 102,000 students in 海角直播 will learn Chinese annually in public schools, while three new institutions for the gifted will open as part of the Kingdom鈥檚 2025 education plans.聽

According to the Ministry of Finance鈥檚 budget report, the education sector has been allocated聽SR201 billion ($53.50 billion), representing 16 percent of the government鈥檚 expenditures for the coming year.聽

According to Mansoor Ahmed, an independent adviser in various sectors including education: 鈥満=侵辈モ檚 higher education sector is the largest individual education market across the Arabian Gulf region with a staggering 2 million students enrolled in 2022.鈥

He said: 鈥淣otably, 95 percent of these students are enrolled in public and semi-public institutions, underlining a significant reliance on the public sector for higher education. This reliance is attributed to the perception of higher quality and job prospects offered by public institutions.鈥

According to Ahmed, the government鈥檚 funding allocation for this sector is expected to shift higher education demand towards fields like AI, robotics, and renewable energy, while focusing more on R&D to address skills gaps and align education with job market needs.

This funding aims to promote comprehensive education, enhance learning within families and communities, and equip individuals with the skills necessary for national development and workforce readiness.聽

It was announced聽in September that 海角直播 had begun teaching the Chinese language to primary and middle school students to equip learners with valuable skills and promote cultural appreciation.聽

Pupils are now learning Mandarin, with 175 educators teaching the language as part of an agreement between the Kingdom and China. The program aims to improve job prospects and academic opportunities, particularly for those interested in studying at Chinese universities.

The initiative aligns with Saudi Vision 2030 and China鈥檚 growing global influence, further strengthening the trade and cultural ties between the two nations, according to the Ministry of Education.聽

The program started with pilot schools and will gradually expand to include high school students by 2029. Educators from both nations view the initiative as a 鈥渨in-win,鈥 promoting cultural exchange and enhancing communication between the two countries.

Key聽projects for 海角直播鈥檚 education sector in 2025, as mentioned in the Kingdom鈥檚 budget for the coming fiscal year, include increasing kindergarten enrollment to 40 percent to help achieve the Vision 2030 target of 90 percent while addressing the need for specialized teaching staff.聽

There are also plans to expand enrollment for students with disabilities and build sports halls for girls in public schools.聽

According to Ahmed: 鈥淚n 海角直播, approximately 293,000 children are identified with various disabilities. The National Transformation Program 2020 aims to ensure that 200,000 children with disabilities aged 6-18 would benefit from specialized education programs and support services.鈥

Ahmed noted that under the Rights of Students with Disabilities and Equal Participation in Education or RSEPI, all children with disabilities in 海角直播 are guaranteed free and appropriate education, encompassing individual education plans, early intervention programs, and transition services.

He also highlighted the increasing private sector interest in this area, exemplified by Amanat鈥檚 acquisition of a 60 percent stake in the Human Development Co. for SR220.3 million.聽

The company is a major provider of special education and care services in the Kingdom, operating nine schools, 22 daycare centers, and rehabilitation clinics across six provinces.

The Kingdom aims to raise the percentage of accredited training institutions to 39 percent while establishing three new academic facilities dedicated to nurturing gifted students in areas such as sports and technology, with one school set to open in Riyadh.聽

海角直播鈥檚 focus on education and the significant investment in this sector reflects its commitment to diversifying its economy and empowering its youth to contribute to the Kingdom鈥檚 future growth.聽

This emphasis on education is driven聽by聽the country鈥檚 long-term Vision 2030 goals, which seek to transition away from oil dependency and create a knowledge-based economy.聽

海角直播 has recognized that education plays a central role in shaping the future of its citizens, particularly the younger generation. This聽has led to a series of reforms aimed at improving the quality of schooling, increasing access to education, and fostering specialized skills.聽

As the Kingdom seeks to boost industries beyond oil, there is a clear need for a skilled workforce in technology, renewable energy, healthcare, and entertainment sectors.聽

The Saudi government has also been encouraging聽international collaboration in the education sector to enhance its global competitiveness. For example, opening branches of prestigious universities, such as Arizona State University, is part of a larger strategy to elevate the country鈥檚 standing in the聽global education rankings.聽

This is intended聽to provide students with聽access to world-class education and attract international talent to the Kingdom.

Main 2024 achievements for education聽sector聽

The Ministry of Finance鈥檚 budget report shows that the significant investment in the Kingdom鈥檚 education sector has played a key聽role in the sector鈥檚 notable achievements.聽

For instance, three Saudi universities have now ranked among the top 200 globally, with King Saud University advancing into the top 100 in the prestigious Shanghai rankings.

In addition, the percentage of higher education graduates entering the workforce within six months of graduation has increased to 43 percent, a jump from 32 percent in 2023, highlighting the country鈥檚 efforts to improve job readiness among graduates.聽

海角直播 is also enhancing its educational institutions鈥 credibility, with four training facilities receiving institutional accreditation to support the Human Capability Development Program and raise the overall national education standard.聽

On the infrastructure front, three Saudi cities鈥擬adinah, Al-Ahsa, and King Abdullah City in Thuwal鈥攈ave been included in UNESCO鈥檚 Network of Learning Cities.聽

These cities aim to foster a more holistic and inclusive learning environment, offering educational opportunities for all ages and helping to equip citizens with the necessary skills for national development and workforce participation.聽

Furthermore, 海角直播 is expanding its research and development capabilities with the establishment of聽40 centers dedicated to innovation, technology, and creativity.聽

These centers will promote research and entrepreneurship, fueling the growth of new ideas and inventions. In 2024, the Kingdom saw a 10 percent increase in the enrollment of gifted students, with 28,264 scholars now participating in the National Program for Gifted Identification.聽

Additionally, the country achieved six international awards in areas such as technical activity, innovation, and education.聽

In terms of physical infrastructure, 海角直播 is investing heavily in the construction of new educational facilities. A public-private partnership initiative is developing 30 schools in Madinah to create modern and efficient educational facilities.聽

In November, PwC Middle East announced the acquisition of Emkan Education, a Saudi consultancy specializing in education and skills development advisory services. The partnership is seen聽as聽a significant step toward building a future-ready education system in the Kingdom.聽

The acquisition adds Emkan鈥檚 experienced professionals, including three prominent Saudi female education leaders, to PwC鈥檚 Middle East schooling practice.聽

This integration will strengthen PwC鈥檚 regional capabilities and support 海角直播鈥檚 goal of fostering innovation, empowering citizens, and driving economic transformation.


UAE shares end higher as outcome of US-China trade talks awaited

UAE shares end higher as outcome of US-China trade talks awaited
Updated 09 June 2025

UAE shares end higher as outcome of US-China trade talks awaited

UAE shares end higher as outcome of US-China trade talks awaited

LONDON: Stock markets in the UAE ended higher on Monday, in step with Asian peers, as investors awaited the outcome of US-China trade talks in London in the hope that a deal could boost the global economic outlook.

Top US and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two super powers that has widened to export controls over goods and components critical to global supply chains.

Dubai鈥檚 benchmark index hit its highest levels since 2008 and settled up 1 percent, with almost all sectors in positive territory.

Tolls operator Salik Company gained 2.3 percent and Deyaar Development surged 14.6 percent.

In Abu Dhabi, the index was up for a third straight session and gained 0.1 percent, lifted by a 1.6 percent rise in blue-chip developer Aldar Properties and a 1.8 percent advance in Abu Dhabi鈥檚 flagship energy firm Abu Dhabi National Energy Company.

Most stock markets in the Gulf and Egypt including Saudi, Qatar, Kuwait are closed on Monday due to a public holiday.


Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax

Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax
Updated 09 June 2025

Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax

Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax
  • Year-to-date earnings reached SR32.97 billion, an annual rise of 20%
  • Banks getting balance sheets ready for next investment wave

RIYADH: 海角直播鈥檚 banking sector extended its winning streak in April, posting SR7.77 billion ($2.07 billion) in pre-zakat and tax profits, a 16 percent increase compared to the same month last year.

According to the Saudi Central Bank, also known as SAMA, this brought year-to-date earnings to SR32.97 billion, an annual rise of 20 percent, keeping the Kingdom firmly on course for another record-breaking period.

The sustained momentum is attributed to a robust mix of state spending on giga-projects, resilient consumer demand, and still-elevated interest rates.

Financing volumes continue to climb, driven primarily by corporate borrowers across a growing range of industries, including manufacturing, utilities, insurance, and private education. 

Speaking at the inaugural 24 Fintech conference in September, Finance Minister Mohammed Al-Jadaan said the Kingdom had licensed 224 fintech firms by the second quarter of 2024. File/SPA

Contractors are also racing to secure long-term credit for giga-projects such as NEOM, Diriyah, and the Jafurah gas field.

A wider Gulf picture

Strong as those local figures are, the broader region is also gaining momentum. A Kamco Invest report released in May showed that Gulf banks collectively earned a record $15.6 billion in the first quarter of 2025, an 8.6 percent increase from a year earlier.

Financial institutions in the UAE posted the largest absolute increase, adding $639.6 million, while Saudi lenders recorded the fastest annual growth at 17.2 percent.

Kamco added that fee income is rising, costs are under control, and loan-loss provisions fell sharply during the period, cushioning a small dip in net interest income.

Investor appetite is visible in market valuations. Forbes Middle East鈥檚 鈥30 Most Valuable Banks 2025鈥 March list includes 10 Saudi lenders with a combined market cap of about $269 billion鈥 roughly one-third of the entire ranking.

Al Rajhi Bank led the pack at $105.6 billion, with Saudi National Bank following at $54.7 billion.

Contractors are racing to secure long-term credit for giga-projects such as NEOM, Diriyah, and the Jafurah gas field. NEOM

Global Finance named Saudi Awwal Bank the Kingdom鈥檚 best lender in its May 鈥淲orld鈥檚 Best Banks in the Middle East 2025鈥 release, highlighting its HSBC-backed mobile app upgrades, Visa Direct payments, and one-stop small and medium-sized enterprises lending platform.

Cleaning the books and raising cash

Banks are also getting balance sheets ready for the next investment wave.

Bloomberg reported in March that lenders are exploring sales of older non-performing loans to specialist investors to free up capital for upcoming mega project drawdowns.

They鈥檙e also tapping capital markets. By June, they had issued over $5.6 billion in Additional Tier-1 bonds, already a full-year record and the world鈥檚 second-largest AT1 issuance in 2025, according to Bloomberg.

The spree includes Al Rajhi Bank鈥檚 $1.25 billion deal in April, Banque Saudi Fransi鈥檚 $650 million perpetual at 6.375 percent in May, Saudi Awwal Bank鈥檚 $650 million inaugural issue, and Alinma Bank鈥檚 $500 million of sustainable sukuk, all heavily oversubscribed.

Saudi National Bank was ranked in the Forbes Middle East鈥檚 鈥30 Most Valuable Banks 2025鈥 March list. Shutterstock

By tapping eager investors now, while margins remain healthy and global demand for Gulf paper is strong, lenders are bulking up capital buffers and keeping loan-to-deposit ratios in check. That leaves them better prepared to fund the fast-rising credit needs of projects like NEOM and Diriyah without tripping liquidity alarms later in the year.

Fintech role

Fintech is reshaping Saudi banking from the ground up. The Saudi Central Bank鈥檚 Open Banking Framework 鈥 most recently updated in September to cover payment-initiation services 鈥 sets common technical rules that let lenders and start-ups plug their systems together safely and at speed.

Speaking at the inaugural 24 Fintech conference in September, Finance Minister Mohammed Al-Jadaan revealed that the Kingdom had licensed 224 fintech firms by the second quarter of 2024, up from fewer than 100 just three years earlier.

One of the newest players is Riyadh-based Stitch, which closed a $10 million seed round on May 28. The company offers a single set of application-programming interfaces that lets banks, fintechs and even non-financial brands bolt on real-time payments and open-banking functions far faster than older systems.

Early adopters already include Lulu Exchange and point-of-sale platform Foodics. The founders say the fresh cash will go toward doubling the engineering team and expanding the product suite.

海角直播鈥檚 sustained momentum is attributed to a robust mix of state spending on giga-projects, resilient consumer demand, and still-elevated interest rates. File/AFP

Looking ahead

Riyad Capital鈥檚 first-quarter preview, released in April, expects another double-digit profit rise this year, about SR19 billion for the listed banks it tracks, as loan growth stays strong and rate cuts arrive slowly.

S&P Global, in its 海角直播 Banking Sector Outlook 2025 report, says a 10 percent increase in lending should outweigh a 20- to 30-basis-point dip in margins, keeping sector returns on assets near 2.1 percent to 2.2 percent.

Funding is the main watchpoint. Moody鈥檚 shifted its system outlook to stable on Feb. 25, saying strong credit growth is tightening liquidity, but capital buffers remain solid.

For now, asset-quality risks remain low. S&P expects non-performing loans to edge up to just 1.7 percent by the end of 2025, while loan-loss provisions are projected to stay around 50 to 60 basis points. Banks鈥 total capital ratios, hovering near 19 percent, provide a solid buffer to absorb potential shocks from falling oil prices or rising private-sector leverage.

Saudi lenders are still the region鈥檚 earnings workhorse. Profits are rising, market values are high, and fresh money 鈥 from bond buyers to venture capitalists 鈥 is flowing in. If they can keep gathering deposits quickly enough to fund a fast-growing loan book, the Kingdom鈥檚 banks look set to stay ahead of their Gulf neighbors in both profit and ambition well into next year.


Saudi carrier flynas to expand operations across 4 hubs, official says聽

Saudi carrier flynas to expand operations across 4 hubs, official says聽
Updated 09 June 2025

Saudi carrier flynas to expand operations across 4 hubs, official says聽

Saudi carrier flynas to expand operations across 4 hubs, official says聽
  • Hubs include Riyadh, Jeddah, Madinah, and Dammam as part of growth plan
  • Carrier expanded its summer schedule, launching four new international destinations

RIYADH: 海角直播鈥檚 low-cost carrier flynas is set to expand operations across its four main hubs 鈥 Riyadh, Jeddah, Madinah, and Dammam 鈥 as part of an ambitious growth plan, according to a top official. 

In an interview with Al-Eqtisadiah, Waleed Ahmed, the company鈥檚 official spokesperson, said that flynas holds the largest aircraft order in the Kingdom and one of the biggest in the Middle East, with a total of 280 aircraft set to be received. 

This follows a major deal signed in July with Airbus to acquire 160 new aircraft, including 30 wide-body A330neo and 130 single-aisle jets across A320neo, A321neo, and A321LR models. 

The airline has seen a sharp rise in passenger traffic, with volumes climbing from around 11 million in 2023 to more than 14.7 million in 2024, reflecting the low-cost carrier鈥檚 rapid expansion in line with 海角直播鈥檚 push to position itself as a leading global hub for tourism and business. 

鈥淭hese numbers reinforce the company鈥檚 role in supporting Vision 2030, which aims to increase the number of passengers to 330 million and attract more than 150 million international passengers by that year.鈥 Ahmed said, as quoted by Al-Eqtisadiah. 

He also highlighted that, as part of its ambitious strategic plan, flynas has expanded its summer schedule by launching four new destinations for the first time: Krakow in Poland, Geneva in Switzerland, Milan in Italy, and Rize in Turkiye, in addition to its usual summer routes. 

Last week, flynas finalized its initial public offering at SR80 ($21) per share 鈥 the top of its indicated price range 鈥 following strong demand from both institutional and retail investors. 

The pricing values the airline at an estimated market capitalization of SR13.6 billion at listing. 

The offering followed the company鈥檚 announcement last month of its intention to float 30 percent of its share capital on the Saudi Exchange, making flynas the first airline in the Kingdom to go public and the first Gulf airline IPO in nearly two decades. 

In line with its ongoing fleet expansion, flynas recently took delivery of its fourth Airbus A320neo of 2025, bringing the total number of A320neo aircraft in its all-Airbus fleet to 57. The current fleet includes 63 aircraft 鈥 57 A320neo, four A320ceo, and two A330neo wide-body jets.


Al-Habtoor Group chairman to lead high-level delegation to Syria, exploring investment opportunities

Al-Habtoor Group chairman to lead high-level delegation to Syria, exploring investment opportunities
Updated 09 June 2025

Al-Habtoor Group chairman to lead high-level delegation to Syria, exploring investment opportunities

Al-Habtoor Group chairman to lead high-level delegation to Syria, exploring investment opportunities
  • Group said visit reflects its ongoing strategy to explore new cooperation with Syrian government
  • Khalaf Al-Habtoor to visit Syria in coming days

RIYADH: The head of Dubai conglomerate Al-Habtoor Group is set to visit Syria with a delegation of senior executives to discuss potential investments and partnerships with the new government.

According to a statement, the visit reflects the group鈥檚 ongoing strategy to explore new avenues of cooperation with the Syrian government and to assess potential investment opportunities across multiple sectors. 

It added that the trip stems from 鈥渁 firm belief鈥 in Syria鈥檚 ability to recover its strength and regional standing and the importance of public-private partnerships in the country鈥檚 rebuilding phase.

The move comes as Syria鈥檚 transitional government, led by President Ahmed Al-Sharaa, pushes economic reforms to attract foreign investment, including privatizations, relaxed trade policies, and major infrastructure deals. 

Speaking ahead of the trip, the group鈥檚 Chairman Khalaf Ahmad Al-Habtoor said: 鈥淪yria is a country rich in culture, history, and capable people. We believe in its future potential and are eager to play a role in its revival through meaningful projects that generate employment.鈥  

He added: 鈥淲e look to Syria with great confidence. Its people possess the energy and resilience needed to shape a strong and prosperous future. As an Arab group with deep regional roots, we consider it both a moral and economic responsibility to stand as a partner in rebuilding stable and thriving societies.鈥

Al-Habtoor Group, a UAE-based multinational with a strong presence in the hospitality, real estate, and automotive industries, has a history of large-scale investments in the Middle East. The move follows the organization鈥檚 recent withdrawal from Lebanon, where it cited instability as a barrier to business.


Jordan鈥檚 foreign exchange reserves hold steady at $22.76bn in May

Jordan鈥檚 foreign exchange reserves hold steady at $22.76bn in May
Updated 09 June 2025

Jordan鈥檚 foreign exchange reserves hold steady at $22.76bn in May

Jordan鈥檚 foreign exchange reserves hold steady at $22.76bn in May
  • Gold holdings at the end of May were valued at $7.76 billion
  • Qatar Central Bank recorded a 3.6% increase in its foreign currency reserves and liquidity

RIYADH: Jordan鈥檚 foreign exchange reserves remained largely unchanged in May, standing at $22.76 billion, as per new data released by the Central Bank of Jordan. 

The slight month-on-month dip 鈥 about 0.2 percent from April 鈥 reflects broad stability in the Kingdom鈥檚 external buffers. 

Jordan鈥檚 foreign exchange figures are broadly in line with trends observed across other Middle East and North African countries. 

The Qatar Central Bank recorded a 3.6 percent increase in its foreign currency reserves and liquidity, reaching 258.135 billion Qatari riyals ($70.9 billion) in May, up from 249.165 billion riyals in May 2024. 

Jordan鈥檚 long-term foreign-currency issuer default rating was affirmed at 鈥淏B-鈥 with a stable outlook by Fitch Ratings. File/AFP

Egypt鈥檚 foreign exchange reserves rose to $48.525 billion by the end of May, compared to $48.144 billion in April, marking an increase of $381 million. 

鈥淭he Central Bank of Jordan stated in a statement today that its total foreign reserves are sufficient to cover the country鈥檚 imports of goods and services for approximately nine months,鈥 the Qatar News Agency reported. 

The central bank also reported that gold holdings at the end of May were valued at $7.76 billion, totaling 2.345 million ounces, underscoring the role of bullion in Jordan鈥檚 reserve composition. 

鈥淚t added that the presence of comfortable levels of foreign reserves enhances the ability to influence exchange rates, provides a stable economic environment, and enhances the confidence of foreign creditors and investors,鈥 the QNA report stated, citing the Jordan Central Bank. 

The Central Bank of Jordan said its total foreign reserves are sufficient to cover the country鈥檚 imports of goods and services for approximately nine months. File/AFP

In May, Jordan鈥檚 long-term foreign-currency issuer default rating was affirmed at 鈥淏B-鈥 with a stable outlook by Fitch Ratings, citing the country鈥檚 macroeconomic stability and progress on fiscal and economic reforms. 

The US-based credit rating agency noted that the rating and stable outlook also reflect Jordan鈥檚 resilient financing sources 鈥 including a liquid banking sector, a robust public pension fund, and sustained international support. 

Despite the stable outlook, Jordan鈥檚 credit rating remains below that of several other countries in the region. In February, Fitch affirmed 海角直播鈥檚 IDR at 鈥淎+鈥 with a stable outlook, while the UAE was rated 鈥淎A-.鈥 

Fitch said the ratings are constrained by high government debt, moderate growth, risks from domestic and regional politics, as well as current account deficits and net external debt levels that exceed those of rating peers. 

Jordan鈥檚 foreign exchange figures are broadly in line with trends observed across other Middle East and North African countries. Central Bank of Jordan

A 鈥淏B鈥 rating indicates elevated vulnerability to default risk, particularly in the event of adverse shifts in business or economic conditions. However, it also suggests some degree of financial or operational flexibility in meeting commitments. 

Fitch also noted that Jordan鈥檚 government remains committed to advancing its three-pillar reform agenda 鈥 spanning economic, public administration, and political sectors 鈥 despite external pressures. 

The agency added that the pace of reforms will continue to be shaped by the need to preserve social stability, resistance from vested interests, and institutional capacity limitations.