Demand for toys has remained robust more than one year into the pandemic
Updated 28 April 2021
Reuters
BENGALURU: Hasbro Inc. said on Tuesday it would raise prices of toys and games to counter higher raw material costs as the company sees surging demand for its Nerf blasters and board games from families spending more time at home.
Shares of the Monopoly maker, which late on Monday announced the sale of Entertainment One Music to Blackstone Group Inc. for $385 million, rose 1 percent in morning trading.
The toymaker, like most US manufacturers, has had to contend with rising resin, packaging and metal prices, as well as soaring transportation costs due to high demand and supply disruptions caused by the COVID-19 pandemic.
Rival Mattel Inc. last week had flagged expectations for a “significant impact” to margins from higher resin prices and ocean freight charges.
“Freight and input cost increases have become more pronounced over the past several months, and we have plans in place to help mitigate those costs, including price increases for the second half of the year,” Hasbro Chief Financial Officer, Deborah Thomas, said.
Demand for toys has remained robust more than one year into the pandemic, with the company reporting a 14 percent rise in first-quarter sales in its consumer products unit. Excluding certain items, Hasbro earned $1 per share, above analysts’ average estimate of 65 cents, according to a Refinitiv IBES estimate.
A drop in advertising around films and TV shows due to the pandemic-forced production delays and theater closures also aided in the profit beat.
However, net revenue rose just 1 percent to $1.11 billion in the quarter, missing analysts’ estimates of $1.17 billion, as the delays and closures hurt the company’s entertainment production revenue. Hasbro, like Mattel, said it saw “substantial”
opportunity in non-fungible tokens (NFTs) for some of its collectible brands, looking to tap into the explosive growth in popularity of the digital asset.
Building bridges: Saudi Arabia leads Gulf-Asia tech leap
Updated 01 January 2026
Waad Hussain
ALKHOBAR: Saudi Arabia is forging new academic connections with Asia as the Kingdom’s Vision 2030 accelerates reforms in education and innovation.
Two academics — Prof. Eman AbuKhousa, a data science professor at the University of Europe for Applied Sciences in Dubai, and Prof. Hui Kai-Lung, acting dean of the HKUST Business School in Hong Kong —emphasize that the Kingdom’s transformation is reshaping the development of artificial intelligence and fintech talent across the region.
For AbuKhousa, responsible AI is not just about technology; it is fundamentally about intention. “It is about aligning technology with human values: ensuring fairness, transparency, and accountability in every system we build.”
She highlighted that the Middle East’s heritage of trust and ethics gives the region a competitive advantage. “Institutions should embed ethics and cultural context into AI education and create multidisciplinary labs where engineers collaborate with social scientists and ethicists,” she said.
At the University of Europe for Applied Sciences in Dubai, AbuKhousa trains students to question data, identify bias, and integrate integrity into innovation.
Asian universities like HKUST play a growing role in cross-border education partnerships with Saudi institutions.
“Educators must model responsible use by explaining how data is sourced and decisions are made,” she explained. “Ultimately, responsible AI is less about algorithms than about intention; teaching future innovators to ask not only ‘Can we?’ but ‘Should we?’”
She further noted:“Saudi Arabia’s Vision 2030 has turned digital education into a national movement placing technology and innovation at the heart of human development.”
AbuKhousa emphasized the transformative opportunities for women in the Kingdom: “Today, Saudi female students are designing models, leading AI startups, and redefining what digital leadership looks like.”
Prof. Hui views this transformation through the lens of fintech. “Fintech is deeply embedded in Vision 2030, serving as a key enabler of its three pillars: a vibrant society, a thriving economy, and an ambitious nation,” he said.
Hui stressed that Saudi Arabia’s investment capacity and modern regulatory framework “create a conducive environment for innovation.” Having collaborated with Aramco, The Financial Academy, and Prince Mohammed Bin Salman College of Business and Entrepreneurship, he highlighted the strategic potential of the Kingdom’s young population. “The Kingdom has one of the youngest populations in the world, with a median age below 30,” he said.
Opinion
This section contains relevant reference points, placed in (Opinion field)
“This demographic presents a tremendous opportunity for higher education to shape future leaders, and our collaborations in Saudi Arabia are highly targeted to support this goal.”
AbuKhousa argued that universities must lead innovation rather than follow it. “Universities must evolve from teaching institutions into innovation ecosystems,” she said. “The real bridge between research and industry lies in applied collaboration: joint labs, shared data projects, and co-supervised capstones where students solve live industry challenges.”
“At UE Dubai, we’ve introduced an Honorary Senate of Business Leaders to strengthen that bridge, bringing decision-makers directly into the learning process,” she added.
DID YOU KNOW?
Vision 2030 has made digital education central to Saudi Arabia’s development strategy.
Women in Saudi Arabia are now designing AI models and leading startups.
Universities are transforming into innovation ecosystems bridging research and industry.
Cross-border collaborations with Hong Kong and Dubai are accelerating fintech and AI growth.
Hui noted that cross-border cooperation between Hong Kong and Saudi Arabia is growing rapidly. “Saudi Arabia’s scale, strategic location, and leadership in the Arab world offer Hong Kong an ideal partner,” he said. “Hong Kong’s academic and regulatory experience can help the Kingdom fast-track its digital transformation.”
He highlighted lessons from Hong Kong’s fintech journey. “Hong Kong’s fintech journey offers critical lessons for Saudi Arabia, particularly in creating a balanced ecosystem for innovation,” he said. “Education and regulation are both important. We need education at all levels and beyond schools to expose people to these ideas; having diverse and rich experiences also helps, as the education needs to be supplemented by real-life implementation and usage experience. That is what Hong Kong can offer.”
AbuKhousa emphasized that women’s participation in technology must extend beyond access to influence. “Empowering women in technology begins with reimagining representation: from inclusion to influence,” she said. “We need more women not only learning tech, but leading teams, designing systems, and shaping AI policy. Institutions must normalize women’s presence in decision-making spaces and provide visible mentorship networks to counter imposter syndrome.”
Both experts agreed that innovation must remain human-centered and accountable. “As AI becomes integral to financial systems, governments must strike a careful balance between innovation, data ethics, and compliance,” Hui said. “Establishing clear regulatory frameworks and transparency standards is crucial.”
AbuKhousa concurred, emphasizing the role of education in AI adoption: “Educators must position generative AI as a thinking partner, not a shortcut. The goal is to teach students how to use AI critically, not merely that they can.”
Hui predicts that “AI, blockchain, and cybersecurity will be transformative forces in the region’s financial sector.” AbuKhousa sees a similar momentum in education: “The Gulf is entering a defining phase where AI becomes the backbone of education and workforce development.”
The experts concluded that the Kingdom’s digital transformation, anchored in Vision 2030, is connecting classrooms, industries, and continents through human-centered innovation.
