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RIYADH: King Abdulaziz University has registered 580 patents, with about 3 percent successfully commercialized and converted into market-ready products, according to a senior official.

Saud Wasili, director of KAU’s Innovation and Entrepreneurship Center, told Al-Eqtisadiah that �������� invests over SR20 billion ($5.3 billion) annually in research and innovation.

He said this focus reflects the Kingdom’s broader drive to enhance its innovation ecosystem in line with Vision 2030 goals.

The university’s strategy aims to advance academic excellence, promote sustainable development, and strengthen global competitiveness through innovation, digital transformation, partnerships, and talent development.

Wasili noted that KAU’s patents span all of the Kingdom’s national priorities, with particular strength in healthcare technologies. Among the university’s current innovations are medical preparations, diagnostic tests, and early detection devices for neurological disorders in children.

The university has also developed industrial robots for automation, submarine systems, autonomous drones, and water-saving agricultural technologies.

Musab Al-Harbi, director of KAU’s Corporate Communications Center and the university’s official spokesperson, said the First Conference on Innovation and Entrepreneurship in Saudi Universities— launched with participation from 22 universities — focuses on key themes such as the knowledge economy, intellectual property, and investment in inventions.

The event features collaboration with national bodies including Monsha’at and the Research, Development, and Innovation Authority.

Al-Harbi added that Saudi universities play a central role in fostering innovation, building an entrepreneurship culture, and aligning academic outcomes with labor market needs to develop a generation of competitive innovators and entrepreneurs.

RIYADH: ��������’s Tadawul All Share Index slipped on Sunday, shedding 18.23 points, or 0.16 percent, to close at 11,593.45. 

The benchmark index recorded a total trading turnover of SR3.25 billion ($870 million), with 174 listed stocks advancing and 75 declining. 

The Kingdom’s parallel market Nomu fell 9.42 points to close at 25,039.36, while the MSCI Tadawul Index declined 0.32 percent to 1,508.43. 

The best-performing stock on the main market was Canadian Medical Center Co., whose share price rose 5.91 percent to SR8.60.  

Saudi Automotive Services Co. advanced 5.65 percent to SR72, while LIVA Insurance Co. climbed 5.03 percent to SR14.19. 

Conversely, United Cooperative Assurance Co. saw its share price drop 5.33 percent to SR4.80. 

On the announcements front, SABIC Agri-Nutrients Co. reported a net profit of SR3.33 billion for the first nine months of this year, up 40.49 percent compared with the same period in 2024. 

In a Tadawul statement, the company said the rise in profit was driven by a 23 percent increase in sales, supported by a 17 percent gain in average selling prices.  

The share price of SABIC Agri-Nutrients Co. slipped 0.49 percent to SR123.10. 

Mobile Telecommunication Co. ��������, also known as Zain KSA, said its net profit rose 15.83 percent year on year in the first nine months to reach SR373 million.  

Zain KSA’s stock price gained 2.75 percent to SR11.59. 

Modern Mills for Food Products Co. reported an 8.58 percent year-on-year increase in net profit for the first nine months to SR171.45 million.  

In a Tadawul statement, the company attributed the rise to growth across all categories, led by flour.

“This strong performance was driven by topline growth and effective financial management, resulting in lower financing costs,” said the company.  

The share price of Modern Mills for Food Products Co. rose 1.18 percent to SR34.40.