Saudi Arabia, US sign collaboration deal to advance space technologies

An agreement was signed by Munir bin Mahmoud El-Desouki and Tim Cahill of Lockheed Martin to enhance cooperation between the two countries in the fields of space and its technologies. (SPA)
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Updated 10 May 2022
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Saudi Arabia, US sign collaboration deal to advance space technologies

  • The agreement includes identifying projects that will enhance research and develop more Saudi capabilities in the Kingdom’s space industry, in addition to implementing training programs to develop human resources in the space and innovation sector

JEDDAH: A far-reaching research and development deal to advance space technologies has been signed between two industry leaders from Saudi Arabia and the US.

The agreement, aimed at boosting innovation, and the space and digital economy, was inked on Monday in Washington, D.C. on the sidelines of an official visit to America by a high-level delegation from the Kingdom.

Munir bin Mahmoud El-Desouki, the president of King Abdulaziz City for Science and Technology, and Tim Cahill, senior vice president of aeronautics company Lockheed Martin, signed the accord that will see increased cooperation between the two countries in the space technology sector.

As well as developing Saudi workforce skills in line with the Vision 2030 reform plan, the signatories plan to promote further investment in sector-related research.




Abdullah Al-Swaha, Minister of Communications and Information Technology CIT and Saudi Arabia’s ambassador to the US, Princess Reema bint Bandar met Pamela Melroy Deputy Administrator at The National Aeronautics and Space Administration NASA. (Supplied)

An infographic posted on the Saudi Space Commission’s official Twitter account outlined some of the terms of the collaboration.

It said: “The agreement includes identifying projects that will enhance research and develop more Saudi capabilities in the Kingdom’s space industry, in addition to implementing training programs to develop human resources in the space and innovation sector.”

During Monday’s visit, Saudi Minister of Communications and Information Technology Abdullah Al-Swaha met with the National Aeronautics and Space Administration’s Deputy Administrator Pamela Melroy and discussed opportunities for strategic cooperation in the space sector.

In a tweet, the commission said the main goals of the meeting had been to explore collaborations between the two countries in space and its technologies, look at ways to boost investment in shared future projects, and promote strategic partnerships in developing the space sector.

Saudi Ambassador to the US Princess Reema bint Bandar bin Sultan also attended the meeting along with Muhammad bin Saud Al-Tamimi, president-designate of the Saudi Space Commission.

The visit included tours of US institutions and companies linked to the space sector and formed part of the commission’s ongoing efforts to increase its cooperation with international industry specialists.

In a tweet, the Saudi Ministry of Communications and Information Technology said Al-Swaha had met with Saudi students undertaking science, technology, and space scholarships in America, “to talk about the digital economy and the innovation-based economy and to confirm their future role in enhancing the Kingdom’s pioneering position and in building a sustainable future.”

Monday’s agreement was not the first between KACST and Lockheed Martin. In 2018, the parties agreed a cooperation deal to launch the first Saudi communication satellite, known as SaudiGeoSat 1/HellasSat 4. The Saudi and Greek geostationary communication satellite covers the Gulf region, North Africa, and Europe.


Saudi minister receives copy of Omani ambassador’s credentials

Saudi Deputy Foreign Minister Waleed Al-Khuraiji receives a copy of the credentials of the newly appointed Omani ambassador.
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Saudi minister receives copy of Omani ambassador’s credentials

RIYADH: Saudi Deputy Foreign Minister Waleed Al-Khuraiji has received a copy of the credentials of the newly appointed Omani ambassador to the Kingdom Sayyid Najib bin Hilal Al-Busaidi.

Al-Khuraiji welcomed the ambassador and wished him success in his new duties, Saudi Press Agency reported on Monday. 


Fintech founder describes journey in shaping Saudi finance

Updated 29 sec ago
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Fintech founder describes journey in shaping Saudi finance

  • Adel Alateeq: Entrepreneurship is part of me. I’ve always wanted to do something on my own, to have the freedom to do creative things out of the boundaries of large organizations
  • Adel Alateeq: I think today, the transformation that Saudi is going through is probably a once-in-a-lifetime opportunity

Adel Alateeq, co-founder and CEO of Awaed, reflected on a career that has witnessed the evolution of Saudi Arabia’s investment landscape.

In a discussion with The Majlis podcast produced in partnership with Arab News, Alateeq described his career path from traditional finance to fintech startup cofounder.

Alateeq’s early roles involved managing public equity funds, an area significantly affected by Saudi Arabia’s market crash in February 2006.

“The market was booming, a lot of Saudis were participating in the Saudi markets,” he said.

“But, then, all of a sudden, came February 2006, a crash happens, and a lot of people lost trust, lost money, a lot of money in the market, and then they started looking for other things, and they started deserting the local markets.”

The financial turmoil, coupled with the 2008 global financial crisis, highlighted the vulnerability of relying solely on public equities and spurred a search for alternative investments.

This led Alateeq to work on the first real estate investment trust in Saudi Arabia with Riyad Capital, a project initiated around 2008 and eventually launched in 2016.

Simultaneously, he championed the development of a venture capital fund with Riyad Capital.

Discussions began in 2012, but it took four years to convince investors, primarily due to skepticism about the potential for startups in Saudi Arabia at the time.

“We started talking about the fund back in 2012. We only launched in 2016,” Alateeq said.

“It took us four years to convince investors, and to fundraise for our first VC fund, because a lot of investors did not believe that there would be startups coming out of Saudi.”

Not long afterwards, Alateeq was tapped by the Public Investment Fund to join Jada Fund of Funds, founded in 2018.

He said the mandate was to “catalyze the private equity and venture capital industry” in Saudi Arabia.

Despite the challenges of building a team remotely during the global pandemic, Jada achieved its five-year key performance indicators within just three years.

Speaking about his move to establish the Awaed digital wealth management platform, Alateeq said: “Entrepreneurship is part of me. I’ve always wanted to do something on my own, to have the freedom to do creative things out of the boundaries of large organizations.”

Alateeq believes that Saudi retail clients are “underserved” by existing players who struggle to reach them effectively.

He challenges the notion that Saudis lack financial literacy, arguing that the key issue is one of “access, not knowledge.”

In line with the unique aspects of the Saudi market, Awaed allows users to screen out non-Sharia compliant investment options.

Reflecting on the Saudi banking and investment sector, Alateeq said that its profitability can lead to complacency and a lack of innovation among many established players.

“The market is hungry,” he said. “There’s so much to do. But because of that, creativity is not at its best.”

Alateeq is optimistic about the country’s reforms under Vision 2030. “I think today, the transformation that Saudi is going through is probably a once-in-a-lifetime opportunity,” he said.


Riyadh International Industry Week 2025 to feature 524 exhibitors from 20 countries

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Riyadh International Industry Week 2025 to feature 524 exhibitors from 20 countries

  • Event will cover an area of 20,550 sq. meters and be the largest industrial gathering in the region
  • Activities will include live demonstrations of the latest industrial technologies

RIYADH: The Saudi capital will host “Riyadh International Industry Week 2025” under the patronage of the Ministry of Industry and Mineral Resources at the Riyadh International Convention and Exhibition Center from May 12 to 15. 

It will feature more than 524 exhibitors from around the world, with an expected attendance of over 25,000 visitors, including specialists and those interested in the industrial sector, according to a press release issued by the organizer.

The event will cover an area of 20,550 sq. meters and be the largest industrial gathering in the region, bringing together more than 48,000 products and advanced technologies under one roof. 

It will include national pavilions representing major industrial countries, while the activities will feature speakers and experts, with more than 60 speakers presenting strategic insights in more than 20 sessions and specialized workshops.

The exhibition agenda includes several strategic themes that will highlight the latest global trends in the industrial sector and provide a platform for dialogue with experts, investors, and decision-makers. 

Activities will include live demonstrations of the latest industrial technologies, along with highlighting government initiatives aimed at supporting and empowering the sector, while highlighting key enablers of the industrial environment in the Kingdom.

The events will be spread over four specialized industrial exhibitions. The “Saudi Plastics and Petrochemicals Exhibition,” in its 20th edition, will celebrate its history of supporting these industries and offer a comprehensive platform to show the latest innovations and sustainable solutions. 

The event will also host the “Saudi Print and Pack Exhibition,” featuring the latest advances in printing technology and smart packaging solutions.

It will feature the “Saudi Smart Logistics Exhibition,” highlighting the latest solutions in material handling, storage, and supply chains.

The journey of innovation will continue through the “Saudi Smart Manufacturing Exhibition” dedicated to automation and digital transformation solutions for industrial facilities in the Kingdom.

The Industry Week is a major platform for empowering the national industrial sector and exploring future opportunities in supply chains and advanced technologies. 

It represents an extension of the Kingdom’s longstanding efforts to support national priorities in the industrial sector. It will foster international partnerships, facilitate knowledge transfer, and present innovative solutions that enhance industrial competitiveness regionally and globally, in line with the objectives of Saudi Vision 2030.


Jeddah roadshow promotes Malaysia’s tourism, seeks more Saudi visitors

Updated 05 May 2025
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Jeddah roadshow promotes Malaysia’s tourism, seeks more Saudi visitors

  • Group included representatives from private sector companies, travel agents and hoteliers
  • Minister Dato Sri Tiong King Sing discussed preparations for the Visit Malaysia 2026 campaign

JEDDAH: Dato Sri Tiong King Sing, Malaysia’s minister of tourism, arts and culture, led a delegation to Jeddah for a roadshow and business-to-business networking event aimed at exploring tourism opportunities between Saudi Arabia and Malaysia.

Accompanied by Datuk Manoharan Periasamy, director general of Tourism Malaysia, the group included representatives from private sector companies, travel agents and hoteliers to network and form strategic alliances with buyers, travel agents and airlines from the Kingdom.

In his remarks, the minister discussed preparations for the Visit Malaysia 2026 campaign, which aims to attract 35.6 million tourists, focusing on increasing Malaysia’s visibility, improving accessibility, and enhancing the appeal of its tourism.

Speaking to Arab News, the minister said: “We are here to discuss further collaborations and launch the Visit Malaysia 2026 roadshow in Jeddah. Our annual roadshow allows us to showcase new offerings and strengthen partnerships with Saudi tour operators.”

Regarding Saudi tourist arrivals, he said: “We expect a rise in visitors from the Arab world, especially from Saudi Arabia, which has the largest percentage of visitors from the Middle East.”

He added: “Saudi Arabia has been a key market for Malaysia for years, and with Visit Malaysia 2026 approaching, we are targeting more visitors than last year, which reached 68,000.”

He asked everyone to work more vigorously and closely with Tourism Malaysia to send more Saudis to Malaysia, to observe its beauty and experience the sights and sounds of “Malaysia Truly Asia.”


Makkah launches digital tools to enrich Hajj pilgrims’ experience

Updated 05 May 2025
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Makkah launches digital tools to enrich Hajj pilgrims’ experience

  • Second version of AI-powered robot Manarah 2 launched
  • Sheikh Abdulrahman Al-Sudais reveals Hajj plan Thursday 

MAKKAH: The Presidency of Religious Affairs at the Grand Mosque and the Prophet’s Mosque has launched several digital tools to enhance the spiritual experience of pilgrims during the Hajj season. 

The initiative aims to convey the universal message of Hajj and highlight its Shariah objectives in multiple languages. 

Sheikh Abdulrahman Al-Sudais, head of the presidency, inaugurated the second version of the artificial intelligence-powered robot Manarah 2. 

The launch included several smart interactive screens, a global electronic recitation platform, and a multilingual Surah Al-Fatiha app. 

During the Hajj season, the presidency is focused on enhancing the digital experience through integrated services, AI, smart apps, and media, in line with its broader transformation goals.

The initiative also supports Vision 2030 by utilizing advanced digital tools and content developed by local experts to promote the values of moderation and guidance rooted in the Qur’an and Sunnah. 

The presidency’s Hajj operational plan, to be announced on Thursday, will prioritize enriching the pilgrim experience and will include scientific, educational, and guidance-based initiatives that reflect its core mission.