Saudi Arabia’s Al-Baha region receives $19m funding boost to foster agricultural innovation

This initiative is set to reshape the agricultural landscape with a focus on coffee production. File.
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Updated 28 August 2023
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Saudi Arabia’s Al-Baha region receives $19m funding boost to foster agricultural innovation

RIYADH: In a stride toward agricultural innovation, Saudi Arabia’s Al-Baha region has received a financial boost of SR72 million ($19.2 million) to set up the first-of-its-kind coffee city project, aligning with the self-sufficiency goals of the Kingdom’s Vision 2030.

An agreement has been formalized between the Agricultural Development Fund and the Agricultural Cooperative Society in Baljurashi to drive agricultural activities through advanced technologies, the Saudi Press Agency reported.

This initiative is set to reshape the agricultural landscape with a focus on coffee production. 

Hani Al-Rahyan, director of the specialized projects department in the ADF, and Muhammad Al-Ghamdi, vice-president of the ACS, signed the deal under the patronage of Abdul Rahman Al-Fadhli, the minister of environment, water, and agriculture. The ceremony also witnessed the presence of Hussam bin Saud bin Abdulaziz, governor of Al-Baha region.

Beyond its economic implications, the collaboration aims to encourage agricultural investments, develop vegetation cover, create local job opportunities, and bolster the role of cooperative societies within the Kingdom. 

The coffee city initiative, with an envisaged production capacity of approximately 500,000 trees, encompasses a range of infrastructure including buildings, a factory, machinery, and transportation means. 

Additionally, the project integrates elements such as coffee seedlings, production lines, an irrigation system, and a drip network, underscoring its aim to foster coffee production in the region.

Highlighting the broader regional potential, Al-Fadhli unveiled more than 20 investment opportunities, including projects focused on pomegranates, almonds, and other agricultural staples emblematic of Al-Baha.

These ventures are poised to drive economic growth, foster job creation, and contribute to achieving the Kingdom’s vision.


Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

Updated 17 February 2026
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Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06. 

The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.  

Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).  

Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.  

Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30. 

On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.

Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50. 

On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.  

The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.  

The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.  

The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session. 

Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.  

Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.

Tadweer shares last traded at SR3.80, up 2.70 percent.