KAUST appoints new president to drive Vision 2030 goals

King Abdullah University of Science and Technology has appointed Prof. Edward Byrne as its new president
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Updated 07 August 2024
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KAUST appoints new president to drive Vision 2030 goals

RIYADH: King Abdullah University of Science and Technology has appointed Prof. Edward Byrne as its new president, effective September 1, succeeding Tony Chan. This appointment marks a significant milestone for KAUST as it advances its Accelerating Impact Strategy, which aims to enhance the university's role in translating research into practical solutions and innovations.

Since its establishment in 2009, KAUST has focused on addressing global challenges in four key areas: food, water, energy, and the environment. Byrne’s extensive experience in both academia and industry is expected to further support the university’s objectives, aligning with Saudi Arabia’s Vision 2030 and reinforcing KAUST’s position as a leading research and technology institution.

In his new role, Byrne will bring his substantial expertise in leading top-ranked global universities to KAUST. He has previously served as president of King’s College London and Monash University, where he was instrumental in driving major expansions and research initiatives.

Byrne expressed his enthusiasm for joining KAUST, stating: “As the university embarks on a new era delivering its Accelerating Impact Strategy, it is an honor to join an academic community at the forefront of translating research into economically productive innovations for the benefit of society across the Kingdom and the world.”

Byrne is expected to focus on transforming research into actionable solutions, fostering partnerships across various sectors, and enhancing the university’s economic impact to drive growth. His innovative approach to scientific discovery and leadership experience will play a crucial role in advancing KAUST’s mission and goals.


Closing Bell: Saudi main index rises to 10,894

Updated 13 January 2026
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Closing Bell: Saudi main index rises to 10,894

RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trend for a third consecutive day this week, gaining 148.18 points, or 1.38 percent, to close at 10,893.63 on Tuesday. 

The total trading turnover of the benchmark index stood at SR6.05 billion ($1.61 billion), with 144 listed stocks advancing and 107 declining. 

The Kingdom’s parallel market Nomu also rose by 81.35 points to close at 23,668.29. 

The MSCI Tadawul Index edged up 1.71 percent to 1,460.89. 

The best-performing stock on the main market was Zahrat Al Waha for Trading Co., with its share price advancing 10 percent to SR2.75. 

Shares of CHUBB Arabia Cooperative Insurance Co. increased 8.27 percent to SR23.04, while Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw its stock climb 6.17 percent to SR50.60. 

Conversely, the share price of Naseej International Trading Co. declined 9.90 percent to SR31.48. 

On the announcements front, Arabian Drilling Co. said it secured three contract extensions for land rigs with energy giant Saudi Aramco, totaling SR1.4 billion and adding 25 active rig years to its backlog. 

In a Tadawul statement, the company said one rig is currently operational, the second will begin operations by the end of January, and the third — currently suspended — is expected to resume operations in 2026. 

Since November 2025, Arabian Drilling has secured seven contract extensions amounting to SR3.4 billion, representing 55 committed rig years. 

The three contracts have durations of 10 years, 10 years, and five years, respectively.

“Securing a total of SR1.4 billion in new contracts and expanding our backlog by 25 rig-years demonstrates both the trust our clients place in us and our ability to consistently deliver quality and reliability,” said Ghassan Mirdad, CEO of Arabian Drilling, in a statement. 

Shares of Arabian Drilling Co. rose 3.15 percent to SR104.70. 

Separately, Alkhorayef Water and Power Technologies Co. said it signed a 36-month contract valued at SR43.35 million with National Water Co. to operate and maintain water networks, pumping stations, wells, reservoirs, and related facilities in Tabuk. 

In October, Alkhorayef Water and Power Technologies Co. announced it had been awarded the contract by NWC. 

In a Tadawul statement, the company said the financial impact of the deal began in the fourth quarter of 2025. 

The share price of Alkhorayef Water and Power Technologies Co. declined 0.49 percent to SR120.70.