RIYADH: The head of a Saudi delegation leading the Kingdom’s space technological advancement endeavors with the US has held a number of bilateral meetings on Friday, the official Saudi Press Agency reported.
The Chairman of the Saudi Space Commission, Abdullah Al-Swaha, held several discussions with heads of American space companies to exchange expertise and technologies, and enhance joint capabilities in the space sector.
The meetings come as part of the Saudi minister’s official visit to the US, where he met with the founder and CEO of Axiom Space, Michael Suffredini, and CEO of Redwire Peter Cannito.
The meetings discussed several issues aimed at exchanging know-how and technologies related to microgravity platforms, joint cooperation to localize the satellite industry, seeking to enhance joint capabilities to discover space debris, and effectively contributing to building advanced navigational systems, the SPA statement said.
Al-Swaha also met with a number of heads of American space companies on Thursday, including John Elbon, chief operating officer of United Launch Alliance, and Jane Poynter, founder and co-CEO of Space Perspective.
The meetings aimed to enhance bilateral cooperation in the field of spacecraft launch services, build partnerships to contribute to the growth of the space tourism sector, exchange expertise and technologies, and develop the sector’s role in achieving the goals of the Kingdom’s Vision 2030.
Saudi Arabia, US continue to explore cooperation in space sector
https://arab.news/636u7
Saudi Arabia, US continue to explore cooperation in space sector
Closing Bell: Saudi main index closes higher at 10,596
RIYADH: Saudi equities closed higher on Tuesday, with the Tadawul All Share Index rising 43.59 points, or 0.41 percent, to finish at 10,595.85, supported by broad-based buying and strength in select mid-cap stocks.
Market breadth was firmly positive, with 170 stocks advancing against 90 decliners, while trading activity saw 161.96 million shares change hands, generating a total value of SR3.39 billion.
Meanwhile, the MT30 Index closed higher, gaining 6.52 points, or 0.47 percent, to 1,399.11, while the Nomu Parallel Market Index edged marginally lower, slipping 3.33 points, or 0.01 percent, to 23,267.77.
Among the session’s top gainers, Al Masar Al Shamil Education Co. surged 9.99 percent to close at SR26.20, while Saudi Cable Co. jumped 9.98 percent to SR147.70.
Cherry Trading Co. rose 4.18 percent to SR25.44, and United Carton Industries Co. advanced 4.09 percent to SR26.46.
Al Yamamah Steel Industries Co. also posted solid gains, climbing 4.07 percent to end at SR32.70.
On the downside, Emaar The Economic City led losses, slipping 3.55 percent to SR10.32, followed by Derayah REIT Fund, which fell 2.92 percent to SR5.31.
Derayah Financial Co. declined 2.13 percent to SR26.62, while United International Holding Co. retreated 1.96 percent to SR155.20, and Gulf Union Alahlia Cooperative Insurance Co. eased 1.92 percent to SR10.70.
On the announcements front, Red Sea International Co. said it signed a SR202.8 million contract with Webuild S.P.A. to provide integrated facilities management services for the Trojena project at Neom.
The agreement covers operations and maintenance for the project’s Main Camp and Spike Camp, including accommodation and housekeeping, catering, security, IT and communications, utilities, waste management, fire safety and emergency response, as well as other supporting services.
The contract runs for two years, with the financial impact expected to begin in the first quarter of 2026. Shares of Red Sea International closed up 0.99 percent at SR34.74.
Al Moammar Information Systems Co. disclosed that it received an award notification from Humain to design and build a data center dedicated to artificial intelligence technologies, with a total value exceeding 155 percent of the company’s 2024 revenue, inclusive of VAT.
The contract is expected to be formally signed in February 2026, underscoring the scale of the project and its potential impact on the company’s future revenues.
MIS shares ended the session 2.82 percent higher at SR156.70, reflecting positive investor sentiment following the announcement.
