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The Kingdom of Saudi Arabia is going further in the Vision 2030 roadmap by including advancements in quantum technology. It is now aiming to become a major player in the quantum revolution and move ahead of the oil sector that’s holding its economy upright. The roadmap focuses on pursuing a leadership role in technology to diversify the economy and drive innovation. Also Read: NVIDIA’s RTX Blackwell Chip Unveiled: Will It Push NVDA Stock Beyond $160 Saudi Arabia’s center of attention now focuses on education, research, and partnerships with leading tech giants like IBM and Pasqal. The international collaboration bridges the West into the Kingdom’s vision of a better and prosperous Vision 2030. The Kingdom is positioning itself to explore industrial applications of quantum computing and become a hub for the technology. “This report marks a pivotal step towards charting a course for a national quantum roadmap harnessing quantum advancements, fostering innovation, and bol...

Japan’s leading cryptocurrency financial group, SBI, and the national oil company of Saudi Arabia, Saudi Aramco, have revealed intentions to explore co-investing in their respective digital asset portfolios, according to a Dec. 11 news release. As part of this initiative, SBI is set to establish ‘SBI Middle East’ in Riyadh, with the goal of fostering the entry of Japanese digital asset startups into Saudi Arabian markets. Support for Japanese startups On Dec. 7, SBI Holdings disclosed the signing of an agreement for a business partnership with Saudi Aramco, which includes consideration for diverse projects, including the establishment of semiconductor factories in both Japan and Saudi Arabia. The envisioned business alliance between the two entities encompasses three critical areas within advanced technology sectors, such as semiconductors and digital asset s, including collaboration and joint investment in the digital asset domain, identification ...

Saudi Arabia’s Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) recently held a meeting to discuss ways of boosting financial services integration and cooperation.  The July 27 meeting aimed to strengthen the partnership between Saudi Arabia and Hong Kong and enhance their financial systems. The focus was also to agree on tokenization and payment infrastructure. Saudi Arabia and Hong Kong discussion SAMA and HKMA representatives discussed four key focus areas, mainly financial infrastructure development, open market operations, market connectivity, and sustainable development. They also explored supervisory technologies, such as artificial intelligence, machine learning, tokenization, and payment infrastructure.  SAMA and HKMA signed a Memorandum of Understanding (MoU) to collaborate on financial innovation to facilitate joint deliberations. The agreement was signed by SAMA’s governor, Mr. Ayman Alsayari, and HKMA’s chief executive, Eddie Y...