Science and society take center stage at Davos panel

The WEF 2019 is held at Davos in Switzerland. (File/AFP)
Updated 25 January 2019
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Science and society take center stage at Davos panel

  • UAE Minister of State for Advanced Sciences Sarah bint Yousif Al-Amiri was one of the speakers
  • The panelists addressed the relationship of science and society

DUBAI: Panelists at the World Economic Forum in Switzerland took the stage Friday to talk about science and society, including issues such as vaccine skepticism and digital health among others.

Among the speakers was UAE Minister of State for Advanced Sciences Sarah bint Yousif Al-Amiri. She was joined by Martina Hirayama, Switzerland’s State Secretariat for Education and Research and Innovation; Andrew Thompson, co-founder and CEO of Proteus Digital Health Inc.; Shellice Sairras, a medical researcher at Academic Hospital Paramaribo; and Jean-Pierre Bourguignon, president at European Research Council.

The panelists addressed the relationship of science and society, including topics such as how the public consumes scientific information in their daily lives; digitalization of health; and the impact of technology in public health.

One of the issues the panelists discussed was vaccine skepticism, which the they agreed was a common debate in a lot of countries.

“We as scientists have the obligation to communicate science in layman’s language to our communities,” medical researcher Sairras said, highlighting the importance of public understanding in addressing health issues.

UAE Minister Al-Amiri said the research process should be “humanized,” instead of just focusing on presenting the results in numbers.

“We established a team in my office to create science content for the public, translating scientific information to become more understandable,” she said.

The panel also underscored the importance of including the youth in these public discussions about health, with some panelists mentioning the role of social media in the discourse.

“Communication on social media is much more impactful than anywhere else,” Al-Amiri added.

 


Saudi Finance Ministry acquires 86% stake in Binladin Group through debt-to-equity conversion

Updated 16 sec ago
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Saudi Finance Ministry acquires 86% stake in Binladin Group through debt-to-equity conversion

RIYADH: The general assembly of Binladin International Holding Group has approved a capital increase through the conversion of existing debt into equity, a move that results in the Saudi Ministry of Finance acquiring an 86 percent ownership stake in the company, according to a report by Al-Arabiya.

The decision marks a significant step in restructuring the group’s financial position and reflects shareholder confidence in the company’s long-term strategy and operational recovery.

In a statement cited by the Al-Arabiya report, Binladin Group’s board of directors said the approval underscores trust in the company’s future direction and reinforces its development and growth objectives.

Under the approved arrangement, outstanding financial obligations will be settled through the issuance of new shares, allowing the company to substantially reduce its debt burden and strengthen its balance sheet.

As a result, the Ministry of Finance will become the group’s majority shareholder, aligning the government directly with the company’s growth trajectory while supporting its financial stability.

The transaction follows earlier measures taken by the Ministry of Finance to stabilize the group’s financial structure.

Previously, Saudi Arabia’s National Debt Management Center announced the successful completion of a syndicated loan facility on behalf of the ministry, arranged with a consortium of local and international banks. The facility totaled approximately SR23.3 billion ($6.2 billion) and was part of a broader framework to address the company’s liabilities.

The Ministry of Finance had earlier outlined a series of coordinated steps with Binladin Group to settle outstanding cash obligations to banks and restructure the company’s financial commitments. These measures were designed to restore operational stability and enable the group to continue executing its portfolio of large-scale construction projects.

The move is seen as a continuation of the government’s broader support for the construction and infrastructure sector, a key pillar of Saudi Arabia’s economic transformation agenda under Vision 2030.

The restructuring is expected to help ensure the timely completion of strategic projects, safeguard employment, and enhance the sector’s attractiveness to investors.

Commenting on the development, Mohammed Al-Tayyar, a political economy researcher, said the capital increase through a debt-to-equity swap significantly strengthens Binladin Group’s financial standing. He noted that the transaction is likely to bolster investor confidence, improve governance and transparency, and open up new opportunities for sustainable growth as the company moves forward under a more stable financial framework.