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SUNDAY, NOVEMBER 3, 2024
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A.M. Best affirms Takaful UTB hosts 9th


ICETAS: Bridging

International’s rating (A-) academia, industry,


and innovation



• Highest credit rating enterprise risk management. the credit rating validates the TDT | Manama
Takaful International is proud company’s strong operating
s the University of Tech-
for Takaful companies to be the first and only Takaful profits. Anology Bahrain (UTB)
Mr. Al Ansari further stated,
company in Bahrain to be classi-
in the Kingdom fied within the A- financial and “The report from the interna- gears up to host the 9th IEEE
credit rating category. tional agency AM Best, coming International Conference
TDT | Manama The rating also underscores amidst many challenges facing on Engineering and Applied
the strategic support and syn- both the regional and global in- Sciences (ICETAS 2024), ex-
ergies between Takaful In- surance markets, confirms the citement mounts over this
ollowing its annual review, ternational and its parent company’s ability to adapt to year’s theme, “Enhancement
FA.M. Best International has company and Gulf Insurance the volatile conditions of the of Process Industry Efficien-
affirmed its A- (excellent) rating Group, as well as their disci- insurance market while main- cies, i4.0 Approach.” This
and the long-term issuer credit plined approach to corporate taining its financial stability and conference theme aligns UTB’s Prof. Husham Ahmed
rating of “a-” for Takaful Inter- governance. sustainable growth. We believe mission with the transforma- fers an extraordinary platform
national Company B.S.C. with a On this occasion, Essam Al this rating will not only inspire tive potential of Industry 4.0, for UTB students and faculty,
stable outlook for both ratings. Essam Al Ansari Ansari, the Chief Executive of trust among our clients but setting the stage for an immer- providing them access to the
The ratings reflect the com- strong, as well as its strong op- Takaful International Compa- also provide reassurance to our sive journey into next-gener- latest industry research and
pany’s balance sheet strength, erating performance, neutral ny, expressed his pride in this shareholders about the compa- ation technologies that will the chance to network with
which AM Best assesses as very business profile and appropriate achievement, emphasizing that ny’s stability.” shape the industrial landscape. expert professionals at the
Prof. Husham Ahmed, UTB’s forefront of tech innovation.
Research Director, IEEE Ex- This aligns with UTB’s tech-
ecutive Member, and Confer- nology-based programmes
GFH and GWC join forces to expand Grade ‘A’ ence General Chair, shares the in engineering, information
conference’s vision, relevance, technology, computer science,
logistics infrastructure in Saudi Arabia and impact on the future of and business. Through ICE-
technology, engineering and TAS, learning translates into
applied sciences.
practice. Students and facul-
ty can present their research,
TDT | Riyadh How does ICETAS advance
a logistics leader in the region.” gain feedback from industry
Matthew Kearns, Deputy CEO UTB’s mission in research and leaders, and build connections
FH Financial Group (GFH), a at GWC, commented: “This Head innovation? that open doors to collabora-
Gleading financial institution of Terms with GFH will open the tions and career growth. The
with a strong focus on the logis- horizon to tailored supply chain It is a unique opportuni- exposure to applied sciences
tics sector, has signed a head solutions that meets the increas- ty for UTB to gather keynote and industry best practices re-
of Terms with Gulf Warehous- ing demand for high quality speakers and researchers to inforces UTB’s commitment to
ing Company (GWC), one of the logistics solutions in the King- lead meaningful discussions developing graduates who are
GCC’s top logistics providers. dom of Saudi Arabia, further on technological innovation ready to make a significant
The collaboration will see GFH supporting the Kingdom’s 2030 and industry transformation. impact in their fields.
power GWC’s expansion plans vision.” UTB aims to remain at the fore-
by developing 200,000 square The Head of Terms states that front of sustainable research What makes ICETAS unique
meters of Grade ‘A’ logistics fa- GWC will be responsible for op- and innovation, bridging the in Bahrain’s technological
cilities across key locations in erating the logistics facilities to gap between academia and in- landscape?
Saudi Arabia, including Riyadh, serve its expanding client base dustry. By hosting ICETAS, UTB
Jeddah, and Dammam. across the Kingdom, incorporat- not only attracts international ICETAS stands out in Bah-
As part of the Head of Terms, ing cutting-edge technologies, expertise but also positions it- rain’s academic and technolog-
GFH will finance and oversee Officials following the deal signing highest sustainability standards self as a leader in digital trans- ical landscape because it cre-
the development of these state- and optimal operational infra- formation, addressing critical ates an interdisciplinary plat-
of-the-art logistics spaces, tai- the facilities are optimized to global logistics hub. structure to meet the highest industry needs through edu- form that connects public and
lored to meet GWC’s specific serve the clients’ needs. This Razi Almerbati, Chief Execu- industry standards. The facili- cation, research, and techno- private sectors, academia, and
operational requirements. GWC signing is part of GFH’s ongoing tive Officer of GFH Capital, said, ties will provide GWC with the logical advancement. industry. Leaders from mul-
will lead the technical develop- commitment to strengthening “By combining GFH’s financial capacity to manage and opti- tiple sectors can collaborate,
ment of these facilities while Saudi Arabia’s logistics infra- strength and focus on the logis- mize its logistics operations ef- Why is the theme, innovate, and drive solutions.
being the anchor tenant once structure, which aligns with the tics sector with GWC’s logistics ficiently, supporting the compa- ‘Enhancement of Process This convergence of ideas and
completed. GWC will leverage Kingdom’s Vision 2030 objec- prowess, we are confident this ny’s growth and enhancing the Industry Efficiencies, i4.0 expertise not only advances
its expertise in logistics and sup- tives to diversify the economy development will further ce- country’s logistics capabilities. Approach,’ so relevant research but also aligns with
ply chain solutions to ensure and establish the country as a ment Saudi Arabia’s position as today? national goals for a more sus-
tainable, competitive, technol-
The conference theme could ogy-driven economy.
not be more timely. It zeroes in
GFH Financial Group and Panattoni launch strategic partnership on how industry 4.0 technol- How does ICETAS align with
ogies such as AI and machine UTB’s long-term goals for its
learning, internet of things, big engineering, technology and
data and analytics, advanced business programmes?
• To Develop 500,000 agement to ensure the highest robotics and cloud computing
standards in the design, con-
sqm of Grade ‘A’ struction, and delivery of the are reshaping industries by en- ICETAS 2024 represents a
hancing process efficiencies. critical step in UTB’s long-term
logistics facilities. In parallel,
Logistics Facilities GFH will provide robust finan- Hosting ICETAS allows the vision of leading innovation in
Across Key Saudi cial support and oversee the university and its partner or- engineering, technology and
Arabian Hubs sourcing of tenants and leas- ganisers to explore how these business education. It brings
ing activities, ensuring seam- advancements make industries real-world relevance into our
less execution. To this end, GFH more sustainable, effective, curriculum, offering insights
TDT | Riyadh has signed an agreement with and prepared for the future. that our students and facul-
GWC Logistics (GWC), one of the This focus aligns with UTB’s ty can directly apply in their
FH Financial Group (GFH) leading logistics providers in mission to integrate real-world studies and research under-
Gand Panattoni Saudi Ara- the GCC, to support GWC in its applications into its academic takings. UTB’s involvement in
bia yesterday announced the expansion through the leasing programmes, preparing stu- ICETAS reinforces its goal of
signature of a strategic part- up to 200,000 square meters dents for leadership roles in a producing future profession-
nership for the development of of logistics space developed by digitised industrial world. als who are not only skilled
500,000 square meters of state- Panattoni over the next four but also equipped to adapt to
of-the-art logistics facilities in years. How will ICETAS benefit UTB and shape an evolving digital
the Kingdom of Saudi Arabia.  Adding, Daniele Sotti, Man- students and faculty? landscape.
The collaboration focuses on aging Director at Panattoni Sau- The ICETAS conference of-
creating high-quality logistics di Arabia, emphasized, “We are
and industrial infrastructure excited to partner with GFH on
across key cities, including Ri- this transformational project
yadh, Jeddah, and Dammam in Saudi Arabia’s high-growth
with a total planned investment logistics sector.”
of SAR 2 billion (US$ 500 mil- The deal signing  Ali Chamoun, Development
lion) over the coming five years, Road. The facility will cover a central pillar of the Kingdom’s Director of Panattoni Saudi
and an initial allocation of SAR built-up area of 50,000 square diversification strategy, and Arabia, said: “The collabora-
375 million (US$ 100 million) meters, strategically designed to we are proud to launch these tion aims to establish a new
to support Phase 1 and other support the increasing demand investments which will drive benchmark in logistics infra-
development initiatives. for premium logistics solutions economic growth by enhancing structure, meeting the evolving
 The first phase of the partner- in and around the capital. the quality of logistics infra- needs of tenants while enhanc-
ship will include the develop-  Razi Almerbati, Chief Exec- structure.” ing the Kingdom’s position as
ment of a logistics park in South utive Officer at GFH Capital,  Panattoni will leverage its a fast-growing logistics hub in
Riyadh, adjacent to Al Kharj said, “The logistics sector is a expertise in development man- the region.” UTB Solar Project
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