黑料社区

Closing Bell: Saudi main index closes at 11,679 as Middle Eastern stock markets rebound

Closing Bell: Saudi main index closes at 11,679 as Middle Eastern stock markets rebound
A Saudi investor monitors the stock exchange at the Saudi Stock Exchange, or Tadawul in the capital Riyadh. File/AFP
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Updated 07 August 2024

Closing Bell: Saudi main index closes at 11,679 as Middle Eastern stock markets rebound

Closing Bell: Saudi main index closes at 11,679 as Middle Eastern stock markets rebound
  • Dubai鈥檚 main share index jumped 2.4% and Qatari benchmark slipped 0.08%
  • Bahrain鈥檚 bourse eased by 0.1%, while the Kuwait exchange inched up by 1.1%

RIYADH: Most stock markets in the Gulf rebounded on Tuesday as comments from US Federal Reserve officials soothed investor nerves following the previous session鈥檚 global sell-off on fears of a possible US recession.

黑料社区鈥檚 Tadawul All Share Index rose on Tuesday, gaining 174.70 points or 1.52 percent to close at 11,679.16.聽

The benchmark index recorded a total trading volume of SR9.07 billion ($2.42 billion), with 194 stocks advancing and 35 declining.

黑料社区鈥檚 parallel market Nomu was also steady on Tuesday, with the index shedding just 5.37 points to 25,696.10.聽

The MSCI Tadawul Index gained 1.31 percent to close at 1,466.56.聽

The best-performing stock of the day was Emaar The Economic City, as its share price surged by 10 percent to SR7.81.聽

Other top performers were Al Sagr Cooperative Insurance Co. and Saudi Fisheries Co., whose share prices soared by 9.99 percent and 9.96 percent, respectively.聽

The worst performer in the main market was Walaa Cooperative Insurance Co. The company鈥檚 share price slipped by 9.99 percent to SR21.80.

On the parallel market, the top gainers were Clean Life Co., and Almuneef Co. for Trade, Industry, Agriculture and Contracting, whose share prices edged up by 9.93 percent and 9.63 percent, respectively.聽

On the announcements front, Jamjoom Pharmaceuticals Factory Co. reported a net profit of SR209.92 million in the first half of this year, representing a rise of 22.99 percent compared to the same period in 2023.聽

This significant increase in net income was driven by higher revenue and offset by the cost of sales, as well as improved cost efficiencies in other operating expenses, the pharmaceutical firm said in a Tadawul statement.

Jamjoom Pharmaceuticals Factory Co. also announced a 16 percent cash dividend for the first half of this year at SR1.6 per share.聽

Dar Alarkan Real Estate Development Co. also announced its interim financial results for the first half of this year on Tuesday. According to a Tadawul statement, the company witnessed a net profit surge of SR318.71 million in the first six months of this year, marking a rise of 20.67 percent compared to the same period in 2023.

The real estate firm attributed the rise in profit to an increase in revenue on an annual basis amid better property sales and project management consultation.

Yamama Cement Co. said its net profit slipped by 5.24 percent year-on-year to SR199.65 million in the first half of this year.聽

Dubai鈥檚 main share index jumped 2.4 percent, clawing back some of its losses from Monday when it fell more than 4 percent.聽

Blue-chip developer Emaar Properties advanced 4.9 percent, while in Abu Dhabi, the index was up 1.4 percent.

Bahrain鈥檚 bourse eased by 0.1 percent to 1,930, while the Kuwait exchange inched up by 1.1 percent to close at 7,625.聽

The Qatar stock exchange was steady on Tuesday, with the index just losing 8.23 points, or 0.08 percent, to close trading at 10,049.


黑料社区鈥檚 $2.5tn mineral reserves fuel industrial push

黑料社区鈥檚 $2.5tn mineral reserves fuel industrial push
Updated 05 July 2025

黑料社区鈥檚 $2.5tn mineral reserves fuel industrial push

黑料社区鈥檚 $2.5tn mineral reserves fuel industrial push
  • Mining sector projected to boost its GDP contribution from $17 billion in 2024 to $75 billion by 2030

JEDDAH: 黑料社区 is accelerating the development of its mining sector as a central pillar of economic diversification, with the Kingdom鈥檚 mineral wealth now estimated at SR9.4 trillion ($2.5 trillion). 

The surge in value is driven by discoveries of rare earth elements, base metals, gold, phosphate, and titanium 鈥 a strong, lightweight metal with high-value applications in aviation and turbine manufacturing. 

A major catalyst for this growth is the Northern Borders region, home to SR4.6 trillion in resources and a key hub for phosphate production. Developments in Waad Al-Shamal have helped position the Kingdom among the world鈥檚 top phosphate exporters. 

In alignment with Vision 2030 and the National Industrial Development and Logistics Program, the mining sector is projected to boost its contribution to gross domestic product from $17 billion in 2024 to $75 billion by 2030. It generated $400 million in revenue in 2023 and is now backed by a $100 billion investment plan targeting critical minerals by 2035. 

Speaking to Arab News, Saurabh Priyadarshi, a geologist and adviser for mining and metals at Geoxplorers Consulting Services, highlighted that 黑料社区鈥檚 substantial reserves of gold, copper, phosphate, rare earth elements, and lithium position it as a potential global leader in the industry.

鈥満诹仙缜 can foresee itself becoming a key player in the global minerals supply chain. Calling these minerals critical is a different matter altogether,鈥 he said. 

Priyadarshi added that one of the strongest diversification drivers is rising global demand for battery metals and industrial minerals that power electric vehicles and renewable energy infrastructure. 

鈥淎s global markets push toward decarbonization, 黑料社区, too, can and should leverage its $2.5 trillion mineral resource base to power the next phase of industrial growth,鈥 Priyadarshi said. 

黑料社区 is also prioritizing domestic resources and talent, promoting public-private partnerships, and adopting Fourth Industrial Revolution technologies to drive sustainable, long-term growth. 

Minerals central to 2030 plan 

Mansour Ahmed, an independent economic adviser, described mineral development as a strategic cornerstone of Vision 2030. He said 黑料社区鈥檚 untapped reserves are 鈥渃ritical to the global energy transition.鈥 

Ahmed stressed that growing the sector would expand non-oil GDP, generate employment, and drive regional development. He highlighted the importance of mining cities and downstream hubs 鈥渢o maximize local value and build integrated, resilient supply chains.鈥 

Both Priyadarshi and Ahmed noted 黑料社区鈥檚 alignment of mining with advanced manufacturing and innovation. 

Priyadarshi pointed to Ras Al-Khair鈥檚 aluminum smelter and the planned battery chemicals complex in Yanbu, developed in partnership with EV Metals Group, as examples of the Kingdom鈥檚 industrial leap forward. 

Investments in automated mining technologies, AI-driven exploration, and ESG-focused practices reflect 黑料社区鈥檚 ambitions to become a global hub for sustainable resource extraction.

Saurabh Priyadarshi, geologist and adviser for mining and metals at Geoxplorers Consulting Services

黑料社区 has also secured lithium processing capabilities, becoming the first Middle Eastern country to establish a battery materials supply pipeline. 

鈥淭he government is leveraging its Public Investment Fund to finance mining and battery production, ensuring long-term supply chain resilience,鈥 Priyadarshi said. 

He also cited strategic global moves, such as acquiring stakes in Vale鈥檚 base metals division and developing domestic copper smelting, as reinforcing the Kingdom鈥檚 ambitions in critical minerals. 

According to the Vision 2030 Annual Report for 2024, mining has been prioritized as a key sector for economic diversification. The report highlights significant reforms introduced to support this strategic shift, including the Comprehensive Mining Strategy and the Mining Investment Law 鈥 both designed to create a more attractive and transparent regulatory environment. 

Institutional support was reinforced through the establishment of the Ministry of Industry and Mineral Resources. Furthermore, the Saudi Geological Survey and the National Geological Database were launched to strengthen geological mapping and resource assessment capabilities. 

New entities such as Manara Minerals, the Mining Fund, and the Nuthree Exploration Incubator were also created to stimulate investment, innovation, and entrepreneurship in the sector.

ESG and AI integration 

Priyadarshi emphasized that sustainability is integral to this transformation, with AI-driven exploration minimizing environmental impact, automation improving productivity and energy efficiency, and blockchain tools ensuring compliance with ethical, environmental, social, and governance standards. 

黑料社区 is also investing heavily in renewables to power its industrial base. Priyadarshi pointed to the Kingdom鈥檚 $235 billion commitment to solar, wind, and hydrogen, including NEOM鈥檚 $5 billion green hydrogen facility and a $35 billion phosphate and bauxite processing expansion at Ras Al-Khair. 

Ras Al-Khair Industrial City is home to Ma鈥檃den鈥檚 phosphate and ammonia plants, aluminum smelters, and steel
production facilities such as Hadeed 鈥 showcasing the Kingdom鈥檚 ability not only to extract, but also to process and add value to its mineral resources. The city is rapidly emerging as a strategic node in global supply chains. 

Priyadarshi noted that the Kingdom鈥檚 strategy extends beyond resource extraction. He underscored the importance of integrating mining with downstream industries such as aluminum smelting, phosphate processing, and electric vehicle battery production to reinforce supply chains and develop high-value sectors that move beyond the export of raw minerals. 

鈥淚nvestments in automated mining technologies, AI-driven exploration, and ESG-focused practices reflect 黑料社区鈥檚 ambitions to become a global hub for sustainable resource extraction,鈥 he said. 

When asked about the most strategically important minerals for the Kingdom, Ahmed identified phosphate, rare earth elements, and gold as critical. 

He explained that phosphate is essential for food security and serves as a key driver of industrial exports, while rare earth elements such as neodymium, praseodymium, and dysprosium are vital for manufacturing EVs, wind turbines, defense technologies, and high-tech electronics 鈥 making them central to future-proofing the clean energy economy. 

鈥淕old continues to hold significant financial value and remains an important mineral for the Kingdom. Copper and bauxite closely follow, given their growing importance in global electrification,鈥 Ahmed added. 

Global rankings 

According to the Vision 2030 report, 黑料社区 has achieved top international rankings in the mining sector. 

The Kingdom secured first place for mining investment growth, as reported by MineHutte and the Mining Journal. It also ranks among the top 10 countries for mining financial policies and holds the second position globally for efficient license issuance 鈥 taking approximately 90 days to issue a mining license. 

The report adds that 黑料社区鈥檚 advanced legislative framework has attracted significant interest, with 290 local and international companies operating in the sector as of 2024. 

The National Geological Database has dramatically expanded its coverage from just 1.7 percent in 2021 to 51 percent by last year, enabling better resource identification. 

Investor confidence remains high, with 30 proposals submitted for the Kingdom鈥檚 largest-ever mining tender in 2024, covering valuable mineral sites containing gold, silver, copper, and zinc.


Scent economy rises as Gulf fragrances shape identity and status

Scent economy rises as Gulf fragrances shape identity and status
Updated 05 July 2025

Scent economy rises as Gulf fragrances shape identity and status

Scent economy rises as Gulf fragrances shape identity and status
  • Demand for high-end artisanal fragrances and the rise of online commerce are reshaping the market

RIYADH: In the Gulf, fragrance and its various perfume notes are increasingly seen not just as personal accessories but as symbols of identity, refinement, and wealth.

From morning rituals with oud to intricate perfume layering before gatherings, the scent economy is booming across the Gulf Cooperation Council region. This regional passion has fueled a multi-billion-riyal industry, deeply rooted in tradition, yet continually evolving through innovation.

According to a recent report by Research and Markets, 黑料社区鈥檚 perfume market is projected to grow from $2.12 billion in 2023 to $3.57 billion by 2033, registering a compound annual growth rate of 5.94 percent.

Demand for high-end and artisanal fragrances, greater ecological awareness, and the rise of online commerce are reshaping the market.

From ritual to refinement

In the Gulf, fragrance is more than just an aesthetic choice; it鈥檚 a cultural expression, often beginning with the application of Royal Cambodian oud, followed by the practice of layering complementary scents.

Both Rasasi and Lattafa Perfumes, major fragrance brands across the GCC, emphasize how deep-rooted traditions are central to the region鈥檚 distinctive scent profile.

鈥淪cent is deeply embedded in the cultural and spiritual fabric of the Gulf. Unlike Western fragrance preferences that often lean toward freshness or minimalism, the GCC palette is bold, sensual, and opulent 鈥 driven by heritage ingredients like oud, amber, rose, and saffron,鈥 said Talha Kalsekar, head of marketing at Rasasi Perfumes.

He added: 鈥淭hese are not seasonal indulgences but part of daily rituals 鈥 from welcoming guests to post-shower layering. It鈥檚 also a multi-sensory form of expression: to wear scent is to project dignity, refinement, and often, status.鈥 

Consumers in the GCC are no longer just buying scents 鈥 they鈥檙e curating olfactory wardrobes. They understand ingredients, appreciate craftsmanship, and are willing to spend more on exclusive blends.

Talha Kalsekar, head of marketing at Rasasi Perfumes

Echoing this, Fragrance Development Head at Lattafa Perfumes, Abdul Rahim Shaikh, said: 鈥淪cent in Gulf culture is symbolic, it signals pride, hospitality, and self-respect. Certain notes like oud, musk, rose, and amber aren鈥檛 just popular, they are integral to religious, social, and even business rituals.鈥

This cultural resonance influences both the composition and consumption of perfumes. From layering of oils, sprays, and incense to the use of oud, musk, rose, and saffron, these ingredients are not trends, but mainstays.

The modern customer

Both brands are experiencing a shift in their customer base, now engaging with a more informed and expressive clientele, one that values storytelling, sustainability, and personalization just as much as the quality of the scent itself.

鈥淐onsumers in the GCC are no longer just buying scents 鈥 they鈥檙e curating olfactory wardrobes. They understand ingredients, appreciate craftsmanship, and are willing to spend more on exclusive blends, limited editions, and artisanal formats,鈥 Kalsekar said.

Lattafa highlighted this evolution as well: 鈥淭hey are looking for emotional connection and long-lasting quality ... The preference leans toward intense, long-lasting, and layered compositions.鈥

This growing discernment has given rise to gender-neutral perfumes, higher concentrations such as extrait de parfum, and niche storytelling, especially popular among younger demographics.

This is also evident in the rise of demand for full-scent experiences, including body oils, hair mists, and incense-inspired aromas.

Tech meets tradition

Innovation is a defining trait of the evolving fragrance economy. Both Rasasi and Lattafa are integrating artificial intelligence to personalize experiences and streamline product development.

鈥淲e鈥檙e actively exploring the intersection of scent and technology. While our roots are artisanal, we recognize the value of AI in streamlining formulation processes, especially for large-scale testing and trend forecasting,鈥 said Kalsekar.

He added: 鈥淲e鈥檙e also experimenting with in-store scent personalization tools 鈥 allowing customers to co-create their fragrances.鈥

Lattafa is also blending AI modeling with traditional craftsmanship. 鈥淲hile we remain deeply committed to the artistry of perfumery, we鈥檙e exploring the role of AI and personalization to enhance consumer experience. We鈥檙e currently working on tech integrations that allow for better digital scent discovery and curated recommendations across our e-commerce platforms,鈥 Shaikh said.

Although AI can be a tool for personalizing scent creation, Shaikh emphasized that it will not replace intuition and tradition.

The digital dimension

With 黑料社区鈥檚 population becoming increasingly digital-savvy, brands are investing heavily in online infrastructure to align with changing shopping behaviors.

Social media and e-commerce platforms now serve as essential tools for storytelling, customer engagement, and market expansion.

In parallel with these digital shifts, Beautyworld 黑料社区, the largest trade fair for the aesthetics industry in the nation held in Riyadh in April, offered a tangible platform for brands to establish a physical presence in the Kingdom. 

The event also included several business matchmaking sessions and panel discussions, enabling regional and international fragrance brands to network, explore distribution deals, and assess market entry strategies for 黑料社区鈥檚 growing luxury sector.

Fragrance World Perfumes, for example, used its debut at the 2024 edition of the event not just as a launchpad, but as a bridge between its global digital identity and on-the-ground consumer engagement.

Operating in over 125 countries, the UAE-based manufacturer leveraged the gathering to showcase multiple fragrance lines and reinforce its commitment to the Kingdom鈥檚 growing beauty and luxury sectors.

Lattafa, in particular, is capitalizing on social media virality, citing how fragrances like Khamrah have gained traction on platforms such as TikTok and Instagram. Shaikh noted that fragrance today is not only worn but also seen and shared, becoming both a visual and cultural phenomenon.

Rasasi also views digital and physical retail as intertwined.

鈥淧hysical retail remains essential 鈥 it鈥檚 where the emotional connection to scent is first made. So we see online and offline not as competitors, but as complementary chapters of the same brand experience,鈥 said Kalsekar.

Luxury, loyalty and local pride

黑料社区 is facing intense competition from both global and regional players in the industry.

While brands like Chanel and Dior retain their prestige, homegrown names like Abdul Samad Al-Qurashi and Arabian Oud dominate through cultural connection.

A half tola, or around 6 milliliters, of Royal Cambodian oud from Arabian Oud costs SR600 ($160). 

To remain competitive, physical retail continues to adapt. Ghawali, the Chalhoub Group鈥檚 fragrance brand, launched a flagship store in Riyadh鈥檚 Nakheel Mall in January 2023, blending modern design with traditional elements and preparing to unveil a Saudi-inspired fragrance collection.

Further emphasizing cultural continuity, the 鈥淧erfumes of the East鈥 exhibition held in May 2024 under the patronage of Prince Badr bin Farhan, displayed over 200 artifacts at the National Museum in Riyadh. The show celebrated the Arab world鈥檚 enduring relationship with fragrance.

Fragrance outlook

The Eau de Parfum segment is forecasted to dominate due to its longevity and intensity, qualities valued in the region.

Fragrance demand is expected to continue growing, driven primarily by the youth market, primarily comprising urban consumers aged 20 to 40, with women leading the way in consumption.

Import duties and high costs remain barriers, but these challenges have led to a rise in regional manufacturing and increased interest in niche local offerings.


黑料社区 crowns new technology unicorn

黑料社区 crowns new technology unicorn
Updated 05 July 2025

黑料社区 crowns new technology unicorn

黑料社区 crowns new technology unicorn
  • Q-commerce startup Ninja valued at $1.5bn following $250m funding

RIYADH: 黑料社区 and the wider Middle East and North Africa region have witnessed a surge of startup funding rounds in recent weeks, underscoring the Kingdom鈥檚 pivotal role in driving technology investment and digital transformation across diverse sectors. 

Saudi-based quick-commerce startup Ninja has raised $250 million in a funding round led by Riyad Capital, lifting its valuation to $1.5 billion and marking its emergence as the country鈥檚 latest technology unicorn. 

Founded in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja delivers groceries and daily essentials across 黑料社区, Bahrain, Qatar, and Kuwait, reflecting the region鈥檚 growing appetite for fast, tech-enabled consumer services. 

The fresh capital will enable the company to scale logistics capabilities, expand into new geographies, and lay the groundwork for a planned public listing on the Saudi Exchange by 2027. 

The transaction highlights Riyad Capital鈥檚 role as a prominent institutional investor in MENA startups, as well as 黑料社区鈥檚 rising stature as a venture capital hub as it diversifies its economy under Vision 2030.

PetroApp secures $50m to digitize fuel and fleet management

PetroApp, 黑料社区鈥檚 digital fuel and fleet management platform, has raised $50 million in a funding round led by Jadwa Investment through its GCC Diversified Private Equity Fund, with participation from Bunat Ventures. 

Established in 2018 by Abdulaziz Al-Senan, PetroApp operates a cashless system designed to streamline corporate and government fleet payments while reducing fraud. 

The platform also offers value-added vehicle services such as oil changes, car washes, and tire replacements. 

Established in 2018 by Abdulaziz Al-Senan, PetroApp runs a cashless system designed to streamline corporate and government fleet payments. (Supplied)

The capital injection will support PetroApp鈥檚 retail launch within 黑料社区, accelerate its international expansion plans, and further develop its proprietary technology infrastructure. 

Tariq Al-Sudairy, managing director and CEO of Jadwa Investment, said: 鈥淧etroApp presents a compelling investment opportunity, supported by a robust technology infrastructure and strong network effects.鈥 

Abdulaziz Al-Senan, co-founder and CEO of PetroApp, described the partnership as a critical milestone, adding: 鈥淲e are excited to embark on this partnership at a pivotal stage in PetroApp鈥檚 journey. Jadwa鈥檚 institutional expertise will be critical in strengthening our foundation, accelerating growth, and expanding our leadership in 黑料社区 and beyond.鈥

Flawless raises $1.5m to expand AI-powered career guidance 

黑料社区-based Flawless has secured $1.5 million in pre-seed funding from a group of unnamed angel investors with an emphasis on early-stage innovation. 

Founded by Shaimaa Al-Ghamdi, the platform combines generative artificial intelligence with principles of social psychology to deliver personalized career guidance to users seeking better-informed professional decisions. 

Flawless evolved from a personal blog launched in 2023 to a fully operational digital business in 2024, targeting a gap in the market for data-driven career support solutions. 

Al-Ghamdi said: 鈥淲hat began as a passion project is now a data-driven platform helping thousands make smarter career decisions.鈥 

She added: 鈥淭his funding validates our approach and gives us the fuel to scale responsibly and impactfully.鈥 

The investment will be allocated to scaling the company鈥檚 technology infrastructure, refining its product offering, and recruiting new talent to grow operations.

Byzanlink raises $1m to build blockchain-based financial infrastructure 

Dubai-based Byzanlink, a real-world asset tokenization platform, has closed a $1 million private funding round backed by Outlier Ventures, NTDP 黑料社区, Smart IT Frame, Sensei Capital, and several angel investors. 

Founded in 2024 by Anbu Kannappan, the startup operates from Dubai Multi Commodities Centre and is focused on building infrastructure to tokenize traditional financial assets for both institutional and retail investors. 

What began as a passion project is now a data-driven platform helping thousands make smarter career decisions.

Shaimaa Al-Ghamdi, Flawless founder

The company aims to improve market access, transparency, and operational efficiency through blockchain technology. 

Byzanlink plans to allocate the proceeds toward product development, expanding integrations with ecosystem partners, and reinforcing compliance with evolving regulatory frameworks. 

Kannappan said: 鈥淪upport from such a diverse and forward-thinking group of partners is a strong signal for what we鈥檙e building. We believe the next generation of financial infrastructure will be powered by transparency, automation, and access. We鈥檙e committed to building that foundation.鈥 

Idea-L secures $1m to scale venture creation platform

UAE-based idea-L has raised a $1 million pre-seed round from a group of undisclosed angel investors to advance its AI and Web3-powered venture creation platform. 

Founded in 2024 by Peter Goodwin, Daniel Muller, and Mark Hill, idea-L is designed to help entrepreneurs transform early-stage concepts into investor-ready businesses through automation and digital collaboration tools. 

The funding will be used primarily for technical hiring, platform enhancements, and the launch of new products intended to streamline venture creation workflows. 

The company aims to position itself as a key enabler in the UAE鈥檚 growing startup ecosystem by combining generative AI and tokenized ownership structures.

InstaBank secures $15m to drive digital banking in Iraq 

InstaBank, officially operating as Al-Fawr Digital Bank, has raised $15 million in funding to support the rollout and growth of its digital banking services in Iraq. 

UAE-based EQIQ, a venture capital fund and venture builder, contributed $3 million as part of the round, which aims to transform Iraq鈥檚 underdeveloped banking sector. 

Founded in 2025 by Hussain Qaragholi, InstaBank plans to use AI-powered tools and customer-centric design to deliver accessible, scalable financial services. 

The digital bank will play a central role in EQIQ鈥檚 broader fintech strategy, which integrates banking, logistics, and social commerce solutions to accelerate financial inclusion across Iraq. 

The investment underscores the rising investor interest in digitizing the country鈥檚 financial infrastructure and tapping into its large unbanked population. 

EQIQ views InstaBank as a strategic asset to drive economic participation and modernize financial ecosystems.

AgriCash raises seed funding to scale AI-powered agri-fintech platform 

Egypt-based agri-fintech platform AgriCash has secured an undisclosed amount of seed funding in a round led by Alex Angels, with participation from regional investors. 

Founded in 2024 by Diaa Youssef and Mostafa El-Sehli, AgriCash offers farmers a digital platform combining financing solutions, AI-driven agronomic insights, crop insurance, and access to input markets. 

The funding will help AgriCash expand its operations across Egypt and into neighboring markets, strengthen its AI infrastructure, and finalize integrations with insurance and banking partners. 

The company鈥檚 flagship buy now, pay later model provides farmers with interest-free access to agricultural and livestock supplies for up to 12 months, with credit ceilings of up to 3 million Egyptian pounds ($60,777). 

AgriCash aims to achieve 500 million Egyptian pounds in business volume by 2025 and plans to launch livestock financing in 2026 to consolidate its position as an end-to-end agri-finance platform serving smallholder farmers and commercial producers. 


Alfaisal University partners with Japan鈥檚 Medident on health research

Alfaisal University partners with Japan鈥檚 Medident on health research
Updated 05 July 2025

Alfaisal University partners with Japan鈥檚 Medident on health research

Alfaisal University partners with Japan鈥檚 Medident on health research
  • Collaboration to focus on equitable, tech-driven healthcare innovation
  • Signing ceremony held at 黑料社区 Pavilion at Osaka-Kansai Expo

TOKYO: Alfaisal University in Riyadh has signed a memorandum of understanding with Medident from Japan to create a model for equitable and technology-driven healthcare innovation that will enhance the contributions of both countries to global health.

The signing ceremony took place at the 黑料社区 Pavilion at the Osaka-Kansai Expo and was attended by Ghazi Faisal Binzagr, Saudi ambassador to Japan; Daisuke Tomita, president and CEO of Medident; Noor Al-Saadoun, director of health innovation at the Biotech Center of Alfaisal University; and Mohammed Abdelhakim, vice director of Medident at Nippon Medical School.

Binzagr hailed the agreement, saying: 鈥淚n bringing together 黑料社区鈥檚 dynamic institutional vision with Japan鈥檚 globally revered expertise in precision medicine, technology integration and multidisciplinary care models, this new alliance is anchored in a shared commitment to ethical, scalable innovation that addresses tangible clinical challenges while fostering inclusive progress.鈥

Initial projects under the agreement include AI-driven diagnostic trials, immersive medical education, and faculty exchanges set to begin at Alfaisal鈥檚 Health Innovation Center in Riyadh in late 2025.

The partnership will also focus on innovation labs for AI diagnostics, XR surgical training, 3D-printed biomaterials, and digitalization of the healthcare system.

Additional benefits of the partnership will include co-developed certification programs, cross-border support for health-tech startups, ethical adaptation of Japanese med-tech under Saudi Food and Drug Authority governance, and collaborative research into emerging health technologies.

Al-Saadoun said the partnership is in line with 黑料社区鈥檚 Vision 2030, adding: 鈥淭oday isn鈥檛 just a signing; it鈥檚 a gravitational shift. When global innovators like Japan choose Riyadh as their primary partner, they validate what Vision 2030 engineered: a sovereign ecosystem where regulatory agility, integrated infrastructure, and unwavering national commitment converge.  This MoU announcement is an invitation to the world to join the fastest-evolving tech landscape on earth.鈥

Alfaisal University is a non-profit institution of higher education located in the palace grounds of the late King Faisal in Riyadh.

Medident, a pioneer in integrated oral-systemic healthcare models and the deployment of multidisciplinary medical technologies, is based in Tokyo.


Global Markets 鈥 stocks and dollar dip as Trump鈥檚 spending bill passes, trade deal deadline nears

Global Markets 鈥 stocks and dollar dip as Trump鈥檚 spending bill passes, trade deal deadline nears
Updated 04 July 2025

Global Markets 鈥 stocks and dollar dip as Trump鈥檚 spending bill passes, trade deal deadline nears

Global Markets 鈥 stocks and dollar dip as Trump鈥檚 spending bill passes, trade deal deadline nears

LONDON: Stocks slipped on Friday as US President Donald Trump got his signature tax cut bill over the line and attention turned to his July 9 deadline for countries to secure trade deals with the world鈥檚 biggest economy.

The dollar also fell against major currencies with US markets already shut for the holiday-shortened week, as traders considered the impact of Trump鈥檚 sweeping spending bill which is expected to add an estimated $3.4 trillion to the national debt.

The pan-European STOXX 600 index fell 0.8 percent, driven in part by losses on spirits makers such as Pernod Ricard and Remy Cointreau after China said it would impose duties of up to 34.9 percent on brandy from the EU starting July 5.

US S&P 500 futures edged down 0.6 percent, following a 0.8 percent overnight advance for the cash index to a fresh all-time closing peak. Wall Street is closed on Friday for the Independence Day holiday.

Trump said Washington will start sending letters to countries on Friday specifying what tariff rates they will face on exports to the US, a clear shift from earlier pledges to strike scores of individual deals before a July 9 deadline when tariffs could rise sharply.

Investors are 鈥渘ow just waiting for July 9,鈥 said Tony Sycamore, an analyst at IG, with the market鈥檚 lack of optimism for trade deals responsible for some of the equity weakness in export-reliant Asia, particularly Japan and South Korea.

At the same time, investors cheered the surprisingly robust jobs report on Thursday, sending all three of the main US equity indexes climbing in a shortened session.

鈥淭he US economy is holding together better than most people expected, which suggests to me that markets can easily continue to do better (from here),鈥 Sycamore said.

Following the close, the House narrowly approved Trump鈥檚 signature, 869-page bill, which averts the near-term prospect of a US government default but adds trillions to the national debt to fuel spending on border security and the military.

Trade the key focus in Asia

Trump said he expected 鈥渁 couple鈥 more trade agreements after announcing a deal with Vietnam on Wednesday to add to framework agreements with China and Britain as the only successes so far.

US Treasury Secretary Scott Bessent said earlier this week that a deal with India is close. However, progress on agreements with Japan and South Korea, once touted by the White House as likely to be among the earliest to be announced, appears to have broken down.

The US dollar index had its worst first half since 1973 as Trump鈥檚 chaotic roll-out of sweeping tariffs heightened concerns about the US economy and the safety of Treasuries, but had rallied 0.4 percent on Thursday before retracing some of those gains on Friday.

As of 2:00 p.m. Saudi time it was down 0.1 percent at 96.96.

The euro added 0.2 percent to $1.1773, while sterling held steady at $1.3662.

The US Treasury bond market is closed on Friday for the holiday, but 10-year yields rose 4.7 basis points to 4.34 percent, while the two-year yield jumped 9.3 bps to 3.882 percent.

Gold firmed 0.4 percent to $3,336 per ounce, on track for a weekly gain as investors again sought refuge in safe-haven assets due to concerns over the US鈥檚 fiscal position and tariffs.

Brent crude futures fell 64 cents to $68.17 a barrel, while US West Texas Intermediate crude likewise dropped 64 cents to $66.35, as Iran reaffirmed its commitment to nuclear non-proliferation.