Latest news with #ArthurDLittle
Tahawul Tech
2 days ago
- Business
- Tahawul Tech
Arthur D. Little appoints Goetz Kuras as ‘Partner' in financial services practice
Dubai — Arthur D. Little (ADL) announces the appointment of Dr. Goetz Kuras as a Partner in its Financial Services (FS) practice. Focused on the insurance, pensions, and social security sectors, Goetz brings over twenty years of senior executive, regulatory, and consultancy experience to the firm. He will be based in ADL's Riyadh office and will support clients in the Middle East and at a global level. Goetz joins from being a senior advisor to HE the Governor of the General Organisation of Social Insurance (GOSI) in KSA, focussing on GOSI's ongoing strategic and operational transformation and supporting the Board and CEO of the newly established Insurance Authority in defining the new National Insurance Strategy. Previous roles include executive experience as CEO of insurer Medgulf and a director role on the Board of an InsurTech company. On the consultancy side, he has worked at McKinsey and at Oliver Wyman, where he was Head of Insurance CEE and later MENA. He is focused on delivering transformation, strategy, and innovation for industry and government clients across the insurance, pensions, and social ecosystem. Goetz Kuras, Partner at ADL, said, 'The boundaries between insurance and other sectors are dissolving. What has been a value chain is becoming a value stack with new business models emerging that combine value chain components across industries, requiring new approaches from market players, new entrants, and regulators alike. Working with ADL's expanding financial services practice and my colleagues in other industries, where insurance is complementary and enhancing existing value propositions, I look forward to helping grow our client base and impact in these crucial sectors that are vital for prospering societies and economies.' Goetz holds a PhD in theoretical physics from the University of Cambridge (UK) , and Master's degrees from Florida State University (US) and the University of Graz (Austria). Martin Rauchenwald, Managing Partner at ADL, said, 'Driven by digitalisation, AI and innovation, the Middle Eastern insurance sector is evolving rapidly to become a more fluid, open ecosystem. In parallel, institutional reforms of the pensions and social secuity system are actively discussed amongs policy makers. Through his deep experience and understanding, Goetz is perfectly positioned to help clients harness transformation and seize opportunities in this changing environment.'
Zawya
2 days ago
- Business
- Zawya
Arthur D. Little appoints Goetz Kuras as partner in financial services practice
Dubai, UAE: Arthur D. Little (ADL) announces the appointment of Dr. Goetz Kuras as a Partner in its Financial Services (FS) practice. Focused on the insurance , pensions, and social security sectors, Goetz brings over twenty years of, senior executive, regulatory, and consultancy experience to the firm. He will be based in ADL's Riyadh office, and will support clients in the Middle East and at a global level. Goetz joins from being a senior advisor to HE the Governor of the General Organization of Social Insurance (GOSI) in KSA, focussing on GOSI's ongoing strategic and operational transformation and supporting the Board and CEO of the newly established Insurance Authority in defining the new National Insurance Strategy. Previous roles include executive experience as CEO of insurer Medgulf and a director role on the Board of an InsurTech company. On the consultancy side, he has worked at McKinsey and at Oliver Wyman, where he was Head of Insurance CEE and later MENA. He is focused on delivering transformation, strategy and innovation for industry and government clients across the insurance, pensions and social ecosystem. Martin Rauchenwald, Managing Partner at ADL, comments, 'Driven by digitalization, AI and innovation, the Middle Eastern insurance sector is evolving rapidly to become a more fluid, open ecosystem. In parallel, institutional reforms of the pensions and social secuity system are actively discussed amongs policy makers. Through his deep experience and understanding, Goetz is perfectly positioned to help clients harness transformation and seize opportunities in this changing environment.' Goetz Kuras, Partner at ADL, adds, 'The boundaries between insurance and other sectors are disolving. What has been a value chain is becoming a value stack with new business models emerging that combine value chain components across industries, requiring new approaches from market players, new entrants and regulators alike. Working with ADL's expanding financial services practice and my colleagues in other industries, where insurance is complementary and enhancing existing value propositions, I look forward to helping grow our client base and impact in these crucial sectors that are vital for prospering societies and economies.' Goetz holds a PhD in theoretical physics from the University of Cambridge (UK) , and Master's degrees from Florida State University (US) and the University of Graz (Austria). Media Contact: Cate Bonthuys Catalyst Comms +44 7715 817589 For further information, please visit
Times
2 days ago
- Business
- Times
Great British Railways ‘risks repeating the mistakes of the past'
The government's state-owned framework for the railways risks 'morphing into the ghost of British Rail' unless ministers find ways to boost competition and develop fresh income streams, a new report warns. Concerned that Great British Railways is about to 'repeat the mistakes of the past', the study urges ministers to drop their 'profound and misguided hostility to open access rail competition' and seek ways to cut annual subsidies. It finds that, with railway revenue at only at 89.1 per cent of pre-pandemic levels, thanks to working from home and a drop in season ticket sales, the taxpayer is spending £12.5 billion a year in subsidy. That is despite the sector accounting for only 2 per cent of all journeys taken by the public. Tony Lodge: How to make Great British Railways a success The report, Rail's Last Chance, is from the Centre for Policy Studies think tank. Its author, Tony Lodge, outlines a four-point plan to get the industry back on track. 'It is hard to avoid the conclusion that Great British Railways is a solution looking for a problem — prioritising the nationalisation of the railways over their effective and efficient operation,' he says. His study follows a damning report last month from the management consultancy Arthur D Little, which found that Britain is embarking on a new era of nationalised railways, including taking back control of private franchised train operators, with no coherent strategy. It quoted one senior rail executive saying the railway was stuck with the Albert Einstein maxim that 'the definition of madness is to do the same things and expect a different outcome'. Lodge is particularly critical of the government's antipathy to open access rail operators, which run without government contracts or public subsidy. After heavy pressure from the transport department, the Office of Rail and Road (ORR) blocked applications earlier this month for new services from Sir Richard Branson's Virgin Group, FirstGroup's Lumo and the Wrexham, Shropshire & Midlands Railway Company citing 'insufficient capacity on the west coast main line southern section'. Calling for a minimum of 10 per cent open access on intercity routes by 2030, Lodge argues that they deliver 'better services, more routes, faster trains and cheaper tickets', while lifting the performance of the incumbent operator. He cites the east coast main line, where Hull Trains, Lumo and Grand Central compete with the state-backed LNER. He says quarterly data shows that LNER has grown passenger numbers by 28 per cent since 2019, while on the west coast the monopoly operator Avanti is 'still struggling to get passengers back' to pre-Covid levels. • Alistair Osborne: Great Bolshevik Railways going the wrong way Pointing to the 'enormous missed opportunities for the rail estate to generate wider ancillary income', Lodge's second recommendation is for ministers to examine the potential for property, retail and green energy income across 'the rail sector's 52,000 hectares'. He says there is scope to develop 34 sites for solar energy — enough to power at least 140,000 homes — and room for health hubs at stations. Thirdly, he calls for the ORR to 'retain its independent regulatory powers' to scrutinise Great British Railways, saying it 'should not be able to mark its own homework'. His final plea is not just for an 'easy, cheap and user friendly' ticketing app but one that also offers such things as a 'rail miles loyalty scheme'. British Rail was the name for the monolithic state-owned railway business until 1997 by which time the industry had been broken up and part privatised.
Arab News
19-07-2025
- Business
- Arab News
Jeddah by jet ski: How the Red Sea is powering Saudi Arabia's new tourism economy
RIYADH: Once a trading port and gateway to holy cities, Jeddah's Red Sea coast has transformed into a lively center for marine leisure, luxury tourism, and major yachting and water sports events. This shift shows Saudi Arabia's Vision 2030 diversification plan in action, with private enterprise working alongside government-led reforms to help deliver new economic developments. In 2024, Jeddah's Red Sea tourism figures were robust, with the Jeddah Season attracting over 1.7 million visitors in 52 days, according to the Saudi Press Agency. This came as the Kingdom as a whole saw a record 30 million inbound tourists in 2024, an 8 percent increase from 2023, with a total inbound tourism spending of SR168.5 billion ($44 million), up 19 percent year on year, according to the Ministry of Tourism. How the Red Sea coastline in Jeddah changed into a key hub for marine leisure activities Developments on hand are part of a larger coastal regeneration plan aimed at establishing Jeddah as a key gateway between the Red Sea and global destinations. According to Samir Imran, partner at Arthur D. Little Middle East, the Red Sea Global resort is expanding its eco-development along the Red Sea coast, focusing on regenerative tourism, coral reef preservation, and high-end hospitality, noting that resorts like Sheybarah, Six Senses, and Desert Rock are already open, with more set to launch soon. 'Modern Waterfront & Marinas: Jeddah's 4.2 km Corniche Waterfront was completely redeveloped and opened, providing parks, beaches, promenades and recreational facilities. Now named the Roshn Waterfront, this seaside promenade attracts over 55 million visitors each year who come to exercise and enjoy Red Sea views,' Imran said. He explained that the Jeddah Yacht Club & Marina, which opened in 2022, is Saudi Arabia's first luxury tourist marina, offering 101 deep-water berths, superyacht services, and positioning Jeddah as a key hub for the Kingdom's growing tourism sector. Similarly, PwC Middle East Partner and Global Tourism Industry Lead, Nicolas Mayer, elaborated on how Jeddah's Red Sea coast has become a top tourism destination, offering a mix of heritage, culture, and marine leisure that appeals to today's experience-driven travelers. 'There's also been rapid growth in nature-based activities. Snorkeling, fishing trips, and coral reef tours now feature alongside kayaking, bird watching, and excursions into the coastal wetlands. These options open the door to everything from a morning adventure to a multi-day itinerary,' Mayer said. 'What makes Jeddah special is how well all of this comes together. You can start your day in a historic district and end it on a jet ski or dining seaside. For many visitors, this mix of experiences is what makes Jeddah feel like a real destination, not just a single attraction,' he added. How the Saudi Vision 2030 is influencing the coastal renaissance in Jeddah Jeddah's marine luxury growth stems from the Kingdom's Vision 2030, which drives tourism, economic diversification, and quality of life, with the coastline showcasing these efforts. From Arthur D. Little's side, Imran explained that Saudi Arabia has introduced major regulatory reforms to boost marine tourism, including tourist e-visas, lifting the ban on foreign-flagged yachts, and establishing the Red Sea Authority to issue licenses and oversee the sector's growth. 'By establishing defined entry points with customs facilities and streamlining yacht permit procedures, the Kingdom eliminated longstanding barriers, making it more accessible and connected to the global community,' he said. The partner went on to say that under Vision 2030, the nation has heavily invested in the area's tourism infrastructure, including the Jeddah Central Project, backed by the Public Investment Fund, which is expected to feature a new waterfront, marina, beaches, and cultural landmarks by 2027. At the same time, the government is encouraging private-sector participation through regulatory reforms and incentives, leading to partnerships like Cruise Saudi and MSC Cruises, all aimed at transforming Jeddah into a global marine tourism hub. He added that the area's coastal transformation is fueling Saudi Arabia's tourism boom. As marine attractions grow, so does local spending and job creation, with Red Sea tourism expected to add SR85 billion to gross domestic product and create 210,000 jobs by 2030. 'In Jeddah, one can already see the impact in the hospitality sector: dozens of new restaurants, cafes, and boutique hotels have sprung up along the revitalized Corniche, employing Saudi youth and diversifying the local economy,' Imran said. He concluded by saying that marine sports in Jeddah are boosting local talent, with over 1,000 Saudis trained in 2024 for roles like dive instructors and marina managers. Vision 2030 has also enabled women to join the sector, competing in sailing and powerboat racing. These efforts are creating a cycle of stronger infrastructure, workforce inclusion, and rising tourism. Additionally, Vision 2030 has driven Jeddah's shift from standalone projects to integrated coastal destinations, fostering long-term tourism growth and job creation. 'In Jeddah, we're seeing a sharp rise in new job categories tied to the marine economy. Tour operators, diving instructors, marina staff, fishing guides, and jet ski rental businesses are expanding fast. Yacht chartering and high-end marine hospitality are growing too,' PwC's Mayer said. He continued to stress that upscale waterfront dining is boosting demand for a wide range of hospitality roles, supported by local training programs. Meanwhile, the 'Umrah Plus' trend is encouraging religious visitors to extend their stays for cultural and leisure experiences, creating new jobs and aligning with Vision 2030's goals of economic diversification and investment in people. The future development of Jeddah's marine Arthur D. Little's Imran noted that Jeddah's Red Sea coast is set to strengthen its position as a marine luxury hub, combining heritage with modern coastal appeal. With strong infrastructure already in place, experts are optimistic about continued rapid growth. 'The Al-Arbaeen Lagoon revival, with its new yacht marina and 4.4 km park, is actively under construction in 2025. These will add capacity for more boats and more visitors. Cruise tourism is also ramping up, Jeddah's port is now a home base for Red Sea cruises, introducing yet another stream of maritime tourists exploring the coast,' he said. 'We can expect tourist volumes in Jeddah to keep climbing as air connectivity improves and as word spreads about its Red Sea treasures,' the ADL partner added. Private and global investors are playing a bigger role in Jeddah's tourism growth, aiming to serve 19 million coastal visitors by 2030, many from the region, Imran clarified. He noted that experts view Jeddah's Red Sea location as ideal for year-round yachting, positioning it as a strong alternative to winter destinations such as the Caribbean or Dubai. From PwC's perspective, Mayer justified that the Red Sea Authority will ensure future growth stays sustainable and coordinated, while the city's active private sector helps drive innovation and preserve its unique character. 'We'll likely see growth in multi-day yacht itineraries that link Jeddah to quieter parts of the coast. Cruise tourism might also become a bigger part of the mix, especially as infrastructure improves. Water taxis, floating hotels, and digitally enhanced marine experiences, like virtual dive guides, could help the city appeal to younger travelers and tech-savvy tourists,' Mayer said. He added: 'Jeddah also benefits from its position as both a cultural capital and a transit hub for religious tourism. That makes it a natural gateway. Travelers might start their trip with Umrah or a visit to Al-Balad and then head to the coast for a few days of nature and leisure.'
Arab News
19-07-2025
- Business
- Arab News
Reforms, incentives paving way for Saudi Arabia's rise as logistics hub
RIYADH: Saudi Arabia's logistics sector is emerging as a magnet for global investment, powered by regulatory reforms, incentive schemes, and its alignment with the ambitious Vision 2030 agenda, according to industry experts. As the Kingdom pushes ahead with economic diversification, strengthening its transport and logistics infrastructure has become a central pillar of the program. The National Logistics Strategy aims to transform Saudi Arabia into a global hub by integrating multiple modes of transport, expanding connectivity, and stimulating economic growth. Speaking to Arab News, Paolo Carlomagno, partner at Arthur D. Little, said global logistics players now view Saudi Arabia not only as a high-growth market but as a strategic regional hub for multimodal operations — spanning the Gulf Cooperation Council region, Red Sea basin, and East Africa — anchored by the Kingdom's expanding port, airport, and inland logistics network. 'The Kingdom has opened its logistics ecosystem through full foreign ownership allowances, streamlined customs procedures, and the development of strategic economic zones such as King Abdullah Economic City — collectively reducing barriers for international firms seeking to establish or expand their presence,' said Carlomagno. He added: 'With a population of approximately 36 million, Saudi Arabia offers significant domestic demand, which — combined with rising trade volumes — is helping transform the Kingdom into a central logistics node for both regional and global flows.' In January, the Kingdom introduced 15 new incentives under the Authorized Economic Operator program to bolster its export competitiveness. These included streamlined administrative processes, dedicated account managers, and liaison officers to support investors. Carlomagno said upcoming global events such as Expo 2030 and the 2034 FIFA World Cup would further accelerate the Kingdom's logistics transformation. Both events are expected to drive infrastructure development, accelerate foreign investment, and unlock new trade corridors, he added. Andre Martins, head of transportation, services, and operations for India, Middle East, and Africa at Oliver Wyman, echoed this view. He highlighted Saudi Arabia's scale, infrastructure investments, and strategic location as key advantages. 'Saudi Arabia's position as the largest country in the Middle East, combined with significant plans to upscale infrastructure and logistics capabilities, creates a strong foundation for becoming a central logistics hub,' he said, adding that the Kingdom is establishing multiple logistics zones while continuing to upgrade ports and increase rail connectivity with potential east-to-west connections under Vision 2030. Martins also pointed to the strong domestic demand, particularly in Riyadh, as a growing force behind the Kingdom's logistics ambitions. Government support According to a December report by the General Authority for Statistics, the number of logistics facilities in Saudi Arabia has surged 267 percent since 2021. A separate report from Maersk in November projected the Kingdom's logistics market would hit $38.8 billion by 2026, growing at a compound annual rate of 5.85 percent. Carlomagno pointed to the broader transformation strategy being implemented by the government, particularly the development of logistics zones designed to lower costs, boost connectivity, and drive industrial expansion. 'Recent ZATCA regulatory reforms — notably around less-than-container load handling in seaports — are increasing operational efficiency and making logistics more accessible for small and medium enterprises,' he said. The Arthur D. Little partner added: 'Additionally, the rollout of a national logistics platform (Single Window) is streamlining communication between logistics players and government entities, consolidating permits, customs, and approvals into one digital interface.' Carlomagno also emphasized growing transparency, citing publicly available data on land, logistics zones, and shipping routes. 'Collectively, these initiatives reflect a coordinated push to make Saudi Arabia a modern, investor-ready logistics ecosystem,' he said. Martins noted the government's proactive efforts to attract global firms, offering tax breaks, incentive packages, and access to a large captive market. 'The Kingdom encourages these international companies by facilitating access to captive demand while providing specific incentive packages and tax advantages to encourage market entry and expansion,' he said. In December, Saudi Transport and Logistics Minister Saleh Al-Jasser announced plans to increase the number of logistics zones from 22 to 59 by 2030. This includes 18 new zones, backed by investments exceeding SR10 billion ($2.66 billion). UNCTAD's 2024 report also highlighted Saudi Arabia's growing global role, noting a 231-point rise in the Liner Shipping Connectivity Index and the addition of 30 new maritime shipping lines. In August, Saudi Arabia approved an updated investment law to improve transparency and streamline the investor journey. It guarantees fair treatment, protects intellectual property rights, and enables seamless fund transfers. Leveraging geography and megaprojects Saudi Arabia's geographic location — at the crossroads of Asia, Africa, and Europe — positions it advantageously on the global logistics map, but Carlomagno said this natural strength has historically been underutilized. 'Targeted infrastructure investments — such as port automation, integrated rail and road links, and inland logistics zones — are now enabling the Kingdom to fully harness this potential and position itself as a global logistics hub,' he said. Martins noted that megacity developments are driving up logistics demand, not only during construction but throughout their operational lifespans. 'The construction and deployment periods require significant flows of goods and materials, while operational cities with resident populations create ongoing logistics needs. With expected continued population growth, demand for logistics services will only increase,' he said. Carlomagno pointed to NEOM's Oxagon as a prime example of logistics integration, describing it as 'being developed as a next-generation logistics hub.' He added that it will blend automated ports, AI-driven supply chains, and advanced manufacturing in a single maritime-logistics ecosystem. 'Supporting this is the new NEOM International Airport, which is strategically planned to handle both cargo and passenger volumes at scale, and NEOM Airlines, a new carrier designed to integrate seamlessly with smart logistics and cargo distribution infrastructure,' said Carlomagno. With e-commerce surging, the Arthur D. Little partner said demand is also rising for fast, tech-enabled logistics services — especially in last-mile delivery, smart warehousing, and fulfillment operations. A report from Research and Markets in April projected the Kingdom's e-commerce market, valued at $24.67 billion in 2024, will grow to $68.94 billion by 2033 at an annual rate of 12.10 percent. Addressing the challenges Despite the momentum, experts warned of challenges that need to be addressed to sustain Saudi Arabia's rise. 'While Saudi Arabia is moving in the right direction at a good pace, other countries are simultaneously investing in their logistics infrastructure, airports, ports, and platforms. The key challenge is ensuring that market demand, supply, and economics remain commercially viable for all players,' Martins said. He added: 'Additionally, geopolitical uncertainty presents potential risks to plans, and so many players are deploying a certain level of modularity to mitigate geopolitical risks while maintaining competitive positioning.' Carlomagno pointed out that a shortage of specialized talent — particularly in digital logistics — could pose a hurdle, calling for more training and localization. He also stressed the importance of sustainable logistics practices to align with global environmental, social and governance standards. 'Addressing these challenges demands a systemic approach that aligns infrastructure, policy, and human capabilities,' he concluded.
