Mohammed Alardhi is the executive chairman of Investcorp, chairman of Muscat Stock Exchange MSX and chairman of Royal Jet
May 03, 2022
Countries in the GCC have come a long way in terms of economic diversification and they continue to work hard to reduce their reliance on oil. Following a swift and effective response to the Covid-19 pandemic, which inspired a shift towards a more tech-driven approach to work across the board, I anticipate the technology sector to grow and become a strong driving force in coming years.
Governments in the region have been proactive in digitising their systems and services, and produced global benchmarks in the area of smart cities, with more in the pipeline. Private sector firms are also continually working to fine tune their operations and offerings with the aid of cutting-edge technologies.
We cannot doubt that we are on a promising track. It is always useful, however, to brainstorm ways to broaden the scope of our region in any given field.
As I have written before in these pages, the youth is the region’s greatest asset and we have witnessed them adapt quickly to technological advancements. It is also commendable how Arab women represent a higher proportion of graduates in computer science programmes, in contrast with the rest of the world where the field is male-dominated.
Millennials are increasingly tech savvy at a younger age and in an increasingly tech digital world should be encouraged to learn programming. Corbis via Getty Images.
We must ask ourselves how we can enable our youth to take our tech industry to the next level and facilitate their journeys to realising their potential and in turn contributing to long-term economic goals.
Following an extended period of uncertainty it is natural for professionals, especially those at the beginning of their careers or business pursuits, to feel reluctant about pursuing opportunities they had been working towards.
Both governments and private sector firms can work towards providing support to computer science graduates and aspiring tech entrepreneurs.
First, governments can facilitate tech licensing procedures to make the procedures simple and user-friendly in the future, and broadly work towards an accessible and supportive infrastructure designed with the needs of entrepreneurs and innovators in mind.
Governments and private equity firms in the region must invest in the technology sectors
Special lending rates will encourage up and coming business leaders to start their businesses, and financial institutions can also help create networks that help young entrepreneurs connect and collaborate so they can benefit from synergistic outcomes.
The networks can provide platforms for young professionals and innovators to share their ideas with investors, brainstorm plans and ideas, connect with like-minded people, and access both employment and business opportunities.
Established tech firms in the region – both local and multinational – can be proactive in engaging with our youth and guiding them, while also reaping the benefits of their insights and gaining a more layered understanding of their younger client demographic.
Governments within the region can facilitate cross-border collaboration and also support entrepreneurs in finding global opportunities that help expand their businesses.
They can also incentivise the corporations to use locally-developed technologies over global products in order to support their own economies and drive innovation within the region.
With more and more companies hiring remote workers or opting for hybrid models, employers in the tech field have a wider talent pool to choose from, and can look regionally when filling roles. Flexible jobs that can be done remotely may be more suited to women in the industry who account for high percentages of computer science graduates, and can now find a better balance between their home and professional lives.
In the long term, governments and private equity firms in the region must invest in the technology sectors, and engage players in other economic sectors so they stay abreast of digitisation and aspire to create global benchmarks in the development and use of latest technologies.
While the GCC region has witnessed a series of efforts towards tech, it could benefit from hosting a series of of innovation hubs that incentivise participation and actively engage young professionals in workshops, mentorship programmes and networking opportunities. These centres could package resources and information and make them readily available for people who have aspirations to start or expand their careers or businesses in tech.
We also cannot forget that current generations are increasingly tech savvy at a younger age and must also encourage school-aged children to learn programming and about the digital world as a whole. School workshops, competitions and camps centred around computer science education are useful tools that could inspire future career paths in the field.
The future is digital and the world is moving fast. The GCC region must capitalise on its strengths and use them to pursue and create opportunities that spur growth within the tech sector. Not only will this help recharge the economies but it will also foster a culture of innovation and learning.
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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Uefa Nations League: How it works
The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.
The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.
Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
The EU imports 90 per cent of the natural gas used to generate electricity, heat homes and supply industry, with Russia supplying almost 40 per cent of EU gas and a quarter of its oil.
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister. "We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know. “All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.” It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins. Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement. The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
