Northern Ireland to Cooperate with Saudi Arabia in Raising Rates of Landfill Diversion, Recycling

Steve Harper, Executive Director of International Business at Invest Northern Ireland. (Asharq Al-Awsat)
Steve Harper, Executive Director of International Business at Invest Northern Ireland. (Asharq Al-Awsat)
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Northern Ireland to Cooperate with Saudi Arabia in Raising Rates of Landfill Diversion, Recycling

Steve Harper, Executive Director of International Business at Invest Northern Ireland. (Asharq Al-Awsat)
Steve Harper, Executive Director of International Business at Invest Northern Ireland. (Asharq Al-Awsat)

Ireland underlined its commitment to support the growing technological innovation in Saudi Arabia. Steve Harper, Executive Director of International Business at Invest Northern Ireland, revealed his country’s plans to strengthen cooperation with the Kingdom with the aim to increase landfill diversion and recycling rates at the regional and global levels.

In an interview with Asharq Al-Awsat, Harper said the agency was ready to exchange new experiences in modern technological innovation, financial technology and advanced engineering, in addition to expanding work in the fields of municipal solid waste, energy production from waste, health care, waste management, and cyber security.

He added that Invest Northern Ireland was Northern Ireland’s economic development agency, providing global expertise in a variety of sectors.

“We have been working in Saudi Arabia for more than a decade, and we pay special attention to this relationship, especially in light of the rapid changes that the Kingdom is witnessing and its quest to achieve Saudi Vision 2030, which focuses on promoting economic diversification and growth,” Harper told Asharq Al-Awsat.

He emphasized the great alignment between Saudi Vision 2030 and the agency’s mission, pointing to the presence of many opportunities for Northern Irish companies to engage in the Kingdom’s ongoing transformation.

Harper noted that Northern Ireland companies were working closely with many of the corporations based in the Kingdom, drawing on their expertise in vital Saudi sectors.

Those include life sciences, health, higher education and environmental management, such as construction and demolition waste management, municipal solid waste management, energy production from waste, and modern technological innovations.

In this context, Northern Ireland firms forge partnerships with local companies and sectors in order to build knowledge, apply best practices and innovations, and in general, achieve readiness for future business development, he underlined.

Harper said that Northern Ireland was working closely with its Saudi partners, in healthcare, waste management, education, technology and cyber-security, and other sectors.

“This cooperation has positive effects, not only in increasing the strengths of Northern Ireland’s portfolio of expertise in these sectors, but also on our new and rapidly developing capability in the areas of technological innovation, Fintech and advanced engineering,” he told Asharq Al-Awsat.

Northern Ireland provides support in many sectors and fields in Saudi Arabia, Harper said. For example, it commissioned Averda and Kiverco to design, build and install a waste recycling plant, which will help in the recycling of all construction waste from the Red Sea Project in the Kingdom.

He added that the Northern Ireland economic development agency has recently hosted members of the senior management of the Saudi Investment Recycling Company to present its global expertise in the field of manufacturing dry and wet waste recycling technologies and equipment.

He said in this regard that the Saudi Investment Recycling Company seeks to set an example in this field by developing and operating projects to increase landfill diversion rates and promote recycling at the regional and global levels, driven by Saudi Vision 2030.

He continued: “Our companies support the technological innovation that has begun to emerge strongly in the Kingdom.”

SIM Systems, for example, the largest provider of access control and integrated security management systems in Belfast, is working to provide these systems to King Khalid University Hospital, in addition to a number of major international airports in the region, he continued.

Citing other Northern Ireland companies currently operating in the Kingdom, Harper pointed to CrowdVision, a robotic pedestrian analytics and statistics company, which provides real-time data to help manage crowds and ensure the safety of millions of pilgrims in the holy city of Makkah.

In terms of luxury activities, Ulster Carpets has a proven track record of success in the Middle East region by providing luxury carpets to its customers from prestigious hotels, Harper underlined. The company is currently working in partnership with Jabal Omar Development Company in Saudi Arabia.

These few examples are solid evidence of the Kingdom’s demand for Northern Ireland’s world-class products and expertise, Harper stated.

Asked about cooperation in the field of education and university exchange, he replied that the two largest universities in Northern Ireland – Ulster and Queen’s Belfast - have established a range of partnerships with universities in Saudi Arabia.

For a decade, the University of Ulster has been providing successful nursing programs in Saudi Arabia. As for its experience in the field of tourism and hospitality in particular, it ranks first in the United Kingdom in the field of hospitality, he noted.

Queen’s University Belfast, in turn, has established close relationships with the higher education sector in the Kingdom, including a partnership with the University of Jeddah in a range of disciplines at the graduate and research levels, Harper told Asharq Al-Awsat.

He added that the university was working with the Saudi ministries of Health and Interior to train and develop the healthcare workforce, including doctors, dentists, and nurses.

More than 150 students from the Kingdom are currently enrolled in many undergraduate, graduate and research programs, including at the Center for Secure Information Technologies at Queen’s University Belfast, Harper remarked.

All of the above is the best example of the support provided by Invest Northern Ireland and Northern Ireland as a whole to the Kingdom in achieving Saudi Vision 2030, he stressed.



SABIC Swings to Q1 Profit

A SABIC manufacturing site in Jubail (SABIC)
A SABIC manufacturing site in Jubail (SABIC)
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SABIC Swings to Q1 Profit

A SABIC manufacturing site in Jubail (SABIC)
A SABIC manufacturing site in Jubail (SABIC)

Saudi Basic Industries Corporation (SABIC), a global leader in chemicals, said on Wednesday it returned to profit in the first quarter of 2026, posting net earnings of SAR13.2 million ($3.52 million) compared to a SAR1.21 billion ($322 million) loss a year earlier.

This increase is mainly attributed to a SAR1.05 billion decline in non-recurring restructuring costs, and a SAR384 million reduction in general, administrative, research and development expenses, the company said in a filing to the Saudi bourse, Tadawul, on Wednesday.

Although revenue declined 11% year-on-year to SAR26.15 billion ($6.97 billion) due to lower sales volumes, the company said it increased its operating profit by 338% to reach SAR1.45 billion ($386.6 million), mainly due to a SAR1.05 billion ($280 million) decline in operating expenses.

“In Q1 2026, we continued to make meaningful progress according to our strategic agenda of portfolio optimization, corporate transformation, and selective growth,” said SABIC CEO and executive board member Dr. Faisal Alfaqeer.

“We are following through on the two agreements announced at the start of the quarter to divest our European Petrochemicals business and our Engineering Thermoplastics business in the Americas and Europe,” he noted.

“These decisive actions are aligned with our strategy to enhance capital allocation, strengthen SABIC’s financial resilience, and position the company for growth in profitable markets,” Alfaqeer added.

At the same time, he said SABIC’s transformation journey continues to deliver performance improvements that unlock greater value for our shareholders.

“We realized $220 million at the EBITDA level on a recurring basis during the first quarter of 2026, in line with our planned improvement rate. This keeps us on track toward our cumulative 2030 annual target of $3 billion, consisting of $1.40 billion in cost excellence and $1.60 billion in value creation.”

In terms of selective growth, Alfaqeer also said the company is advancing a number of capital projects in a disciplined way. The execution of the SABIC Fujian project continues as planned, now reaching approximately 98% completion.

He noted that the Ministry of Energy’s announced feedstock-allocation approval “enables the potential expansion of our annual urea production capacity from approximately 4.8 million tons to 7.4 million tons—a 54% increase.”

SABIC has forecast a capital investment of $3.5 to $4 billion in 2026.

Alfaqeer said the company signed a strategic agreement with the Public Investment Fund–Pirelli joint venture, enabling the joint venture to manufacture 3.5 million tires annually in the Kingdom.

“This agreement supports the localization agenda of our NUSANED program, while contributing to long-term economic growth and industrial development in Saudi Arabia,” he affirmed.


Saudi Arabia, France Discuss Enhancing Mining Sector Partnership

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has met with France’s Interministerial Delegate for Strategic Minerals and Metals Supplies Benjamin Gallezot. SPA
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has met with France’s Interministerial Delegate for Strategic Minerals and Metals Supplies Benjamin Gallezot. SPA
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Saudi Arabia, France Discuss Enhancing Mining Sector Partnership

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has met with France’s Interministerial Delegate for Strategic Minerals and Metals Supplies Benjamin Gallezot. SPA
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has met with France’s Interministerial Delegate for Strategic Minerals and Metals Supplies Benjamin Gallezot. SPA

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has met with France’s Interministerial Delegate for Strategic Minerals and Metals Supplies Benjamin Gallezot to discuss strengthening the strategic partnership between the two countries in the mining and minerals sector.

The two sides affirmed the strength of bilateral relations and explored opportunities for cooperation in mineral exploration, mining investment, and the localization of mineral industries.

They also discussed ways to leverage advanced technologies and innovative solutions to improve sector efficiency and enhance sustainability, as well as the importance of integrating value chains for strategic minerals.

The meeting was held in Istanbul on the sidelines of the Critical Minerals Forum, organized on April 28 and 29 by the Organization for Economic Co-operation and Development (OECD).

The forum was attended by government and industry leaders, as well as international organizations, to discuss challenges and opportunities related to critical minerals supply chains.


Shehbaz Sharif: We Repaid $3.5 Billion in Debt Thanks to Saudi Arabia’s 'Pivotal' Support

Saudi Crown Prince Mohammed bin Salman holding talks with Pakistan's Prime Minister Shehbaz Sharif in Jeddah on March 12, 2026 (SPA).
Saudi Crown Prince Mohammed bin Salman holding talks with Pakistan's Prime Minister Shehbaz Sharif in Jeddah on March 12, 2026 (SPA).
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Shehbaz Sharif: We Repaid $3.5 Billion in Debt Thanks to Saudi Arabia’s 'Pivotal' Support

Saudi Crown Prince Mohammed bin Salman holding talks with Pakistan's Prime Minister Shehbaz Sharif in Jeddah on March 12, 2026 (SPA).
Saudi Crown Prince Mohammed bin Salman holding talks with Pakistan's Prime Minister Shehbaz Sharif in Jeddah on March 12, 2026 (SPA).

Pakistan’s Prime Minister Shehbaz Sharif announced on Wednesday that his country had successfully repaid $3.5 billion in mandatory bilateral debt, affirming that this achievement came thanks to the “pivotal” support of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and Crown Prince Mohammed bin Salman.

He clarified that this repayment did not affect the stability of foreign exchange reserves; rather, it strengthened market confidence in Pakistan’s ability to meet its international obligations.

The Kingdom had announced the provision of substantial financial support to Pakistan, including the extension of the term of a previous $5 billion deposit and the provision of an additional $3 billion deposit, aimed at enhancing economic stability and addressing global changes.

On Friday, the State Bank of Pakistan announced that Islamabad had completed the repayment of $3.45 billion in deposits to the United Arab Emirates, settling a final tranche worth $1 billion. The bank had also announced that it had received the Saudi deposit worth $3 billion.

This came after the United Arab Emirates requested that Pakistan return the funds it had deposited in the State Bank of Pakistan in 2018 to bolster its foreign exchange reserves.

This qualitative support aims to enable the Pakistani economy to confront global economic changes and strengthen its financial resilience, in a way that positively reflects on the living conditions of the Pakistani people. It also reaffirms the Kingdom’s consistent and ongoing position of standing alongside Pakistan under all circumstances, embodying the sincere bonds of brotherhood between the leaderships and the peoples.

In an address before the cabinet, the Pakistani Prime Minister clarified the current financial situation, stating: “We have repaid our mandatory external debts (amounting to approximately $3.5 billion in bilateral loans). Our foreign exchange reserves are stable at their current level, and we have fulfilled our obligations and repaid our debts.”

These developments constitute a key pillar in Pakistan’s relationship with international institutions; the stability of liquid reserves at around $20.6 billion (including $15.1 billion held by the central bank) contributes to strengthening Islamabad’s negotiating position with the International Monetary Fund. Pakistan’s success in repaying its bilateral debts, alongside adherence to the requirements of the Fund’s financing program, is seen as a vote of international confidence in the Pakistani economy’s ability to meet its immediate and future financial commitments.

The central bank indicated that its success in managing the outflows required to repay these billions was achieved without causing any shock to the value of the local currency, as the Pakistani rupee remained stable thanks to supportive deposits and cautious monetary policies.

For his part, Sharif explained that this repayment did not come at the expense of monetary stability; rather, it resulted from a coordinated plan between the Ministry of Finance and the central bank to ensure that foreign exchange reserves remained at safe levels, which strengthens Pakistan’s position in its ongoing negotiations with international financial institutions.

Regarding the role played by the Kingdom in securing this financial passage, the Prime Minister expressed his country’s deep appreciation, saying: “We are extremely grateful to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and His Royal Highness Crown Prince Mohammed bin Salman; they played a pivotal role in this matter. I am confident that these major issues will also be resolved, and Pakistan’s peace efforts continue uninterrupted and without relent.”

Sharif noted that this Saudi support was not merely temporary financial assistance, but rather a reflection of the depth of historical ties, adding: “Just as we have strengthened mutual cooperation by removing obstacles at both the joint and institutional levels, positive results have emerged from this.”

It is worth noting that this new Saudi move is not unprecedented. In 2018, the Kingdom provided a $6 billion support package, which included a $3 billion deposit in the State Bank of Pakistan, in addition to deferred oil payment facilities of the same value.