Saudi Arabia is an ‘important partner’ in hydrogen cooperation, says Japan economy minister

Kajima Hiroshi, METI minister, speaks at a press conference in the ministry building in Tokyo. (ANJ Photo)
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Updated 25 September 2021
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Saudi Arabia is an ‘important partner’ in hydrogen cooperation, says Japan economy minister

  • “The large-scale and inexpensive hydrogen supply is indispensable” - Kajiyama

TOKYO: Economy, Trade and Industry Minister KAJIYAMA Hiroshi says Japan recognizes that Saudi Arabia and other Middle Eastern countries are important partners in creating a hydrogen-based society.

“The large-scale and inexpensive hydrogen supply is indispensable,” Kajiyama said at a press conference on Friday. “To achieve our goal, it is important to utilize not only domestic, but also overseas renewable energy resources and hydrogen produced from fossil fuels.”

In April, Japan and the UAE agreed to work on hydrogen cooperation and exchange information on hydrogen supply chain construction, the minister said.

He added: “We are also discussing [cooperation on hydrogen] with other Middle Eastern countries, and we would like to continue to cooperate to realize a hydrogen-based society.”

Hydrogen and ammonia are attracting attention as new energy sources. According to Kajiyama, “[Technological development of this source] must be carried out in three stages: manufacturing, transportation, and domestic utilization such as power generation and utilization as a power source for automobiles.”

“Japan started developing hydrogen ahead of the rest of the world, but other countries are beginning to follow suit,” the minister said. “Under these circumstances, we would like to cooperate closely with potential countries such as Saudi Arabia on how hydrogen production will be carried out.”


Closing Bell: Saudi main market ends week in red at 11,189

Updated 05 February 2026
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Closing Bell: Saudi main market ends week in red at 11,189

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower at the end of the trading week on Thursday, falling 1.34 percent, or 152.54 points, to finish at 11,188.73. 

The benchmark index opened at 11,320.52 and trended lower throughout the session, finishing well below its previous close of 11,341.27.  

Market breadth was sharply negative, with only 28 gainers compared with 236 decliners. Trading activity saw a volume of 239 million shares exchanged, with total turnover reaching SR5.5 billion ($1.47 billion). 

In the parallel market, Nomu closed higher, rising 0.23 percent to 23,865.95, although decliners continued to outnumber advancers. The MT30 index closed at 1,508.60, down 1.46 percent, shedding 22.38 points by the end of the session. 

Among the session’s top gainers, Dar Al Majed Real Estate Co. led advances, rising 5.43 percent to close at SR9.91. 

Al Aziziah REIT Fund added 4.67 percent to SR4.48, while Al Majed Oud Co. gained 2.81 percent to SR161.20. AFG International Co. advanced 2.45 percent to SR17.17, and Al Mawarid Manpower Co. rose 1.37 percent to SR125.70.

On the losing side, Saudi Research and Media Group posted the steepest decline, falling 6.88 percent to SR107. Cherry Trading Co. dropped 6.23 percent to SR28.88, while Saudi Arabian Mining Co. slipped 5.41 percent to SR72.55.  

Almasane Alkobra Mining Co. declined 5.38 percent to SR102, and Power and Water Utility Co. for Jubail and Yanbu ended 4.56 percent lower at SR31.36. 

On the announcements front, Saudi Industrial Investment Group released its interim financial results for the twelve-month period ended Dec. 31, 2025, reporting a return to profitability on an annual basis despite posting a quarterly loss.  

The company recorded a net loss of SR104 million in the fourth quarter, compared with a net profit of SR201 million in the same quarter of the previous year, which it attributed mainly to lower selling prices, higher operating costs, and increased general and administrative expenses.  

For the full year, however, the group posted a net profit attributable to shareholders of SR197 million, compared with SR161 million a year earlier, supported by higher sales volumes and improved operational performance at several subsidiaries. The stock last traded at SR14.77, down 3.59 percent. 

Separately, Saudi Exchange Co. announced the approval of a request by Merrill Lynch Kingdom of Saudi Arabia to terminate its market-making activities for Saudi Arabian Oil Co., effective Feb. 8.

The exchange said the termination relates specifically to the market-making agreement for Saudi Aramco shares and was approved in line with applicable market-making regulations.