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)
TT

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.



Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
TT

Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)

Lebanon's government on Friday approved a draft law to distribute financial losses from the 2019 economic crisis that deprived many Lebanese of their deposits despite strong opposition to the legislation from political parties, depositors and banking officials.

The draft law will be submitted to the country's divided parliament for approval before it can become effective.

The legislation, known as the "financial gap" law, is part of a series of reform measures required by the International Monetary Fund (IMF) in order to access funding from the lender.

The cabinet passed the draft bill with 13 ministers in favor and nine against. It stipulates that each of the state, the central bank, commercial banks and depositors will share the losses accrued as a result of the financial crisis.

Prime Minister Nawaf Salam defended the bill, saying it "is not ideal... and may not meet everyone's aspirations" but is "a realistic and fair step on the path to restoring rights, stopping the collapse... and healing the banking sector.”

According to government estimates, the losses resulting from the financial crisis amounted to about $70 billion, a figure that is expected to have increased over the six years that the crisis was left unaddressed.

Depositors who have less than $100,000 in the banks, and who constitute 85 percent of total accounts, will be able to recover them in full over a period of four years, Salam said.

Larger depositors will be able to obtain $100,000 while the remaining part of their funds will be compensated through tradable bonds, which will be backed by the assets of the central bank.

The central bank's portfolio includes approximately $50 billion, according to Salam.

The premier told journalists that the bill includes "accountability and oversight for the first time.”

"Everyone who transferred their money before the financial collapse in 2019 by exploiting their position or influence... and everyone who benefited from excessive profits or bonuses will be held accountable and required to pay compensation of up to 30 percent of these amounts," he said.

Responding to objections from banking officials, who claim components of the bill place a major burden on the banks, Salam said the law "also aims to revive the banking sector by assessing bank assets and recapitalizing them.”

The IMF, which closely monitored the drafting of the bill, previously insisted on the need to "restore the viability of the banking sector consistent with international standards" and protect small depositors.

Parliament passed a banking secrecy reform law in April, followed by a banking sector restructuring law in June, one of several key pieces of legislation aimed at reforming the financial system.

However, observers believe it is unlikely that parliament will pass the current bill before the next legislative elections in May.

Financial reforms in Lebanon have been repeatedly derailed by political and private interests over the last six years, but Salam and Lebanese President Joseph Aoun have pledged to prioritize them.


Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
TT

Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)

Türkiye's energy minister said Russia had provided new financing worth $9 billion for the Akkuyu nuclear power plant being built by ​Moscow's state nuclear energy company Rosatom, adding Ankara expected the power plant to be operational in 2026.

Rosatom is building Türkiye's first nuclear power station at Akkuyu in the Mediterranean province of Mersin per a 2010 accord worth $20 billion. The plant was expected ‌to be operational ‌this year, but has been ‌delayed.

"This (financing) ⁠will ​most ‌likely be used in 2026-2027. There will be at least $4-5 billion from there for 2026 in terms of foreign financing," Alparslan Bayraktar told some local reporters at a briefing in Istanbul, according to a readout from his ministry.

He said ⁠Türkiye was in talks with South Korea, China, Russia, and ‌the United States on ‍nuclear projects in ‍the Sinop province and Thrace region, and added ‍Ankara wanted to receive "the most competitive offer".

Bayraktar said Türkiye wanted to generate nuclear power at home and aimed to provide clear figures on targets.


China Bets on Advanced Technologies to Revive Tepid Industrial Sector

A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
TT

China Bets on Advanced Technologies to Revive Tepid Industrial Sector

A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)

China pledged on Friday to double down on upgrading its manufacturing base and ​promised capital to fund efforts targeting technological breakthroughs, after its industrial sector delivered an underwhelming performance this year.

China's industry ministry expects output of large industrial companies to have increased 5.9% in 2025 compared with 2024, state broadcaster CCTV said on Friday, almost unchanged from the 5.8% pace in 2024.

It would also be less than the ‌6% pace ‌of the first 11 months of ‌2025, ⁠based ​on ‌data released by the National Bureau of Statistics, as a weak Chinese economy suppressed domestic demand.

Industrial output, which covers industrial firms with annual revenue of at least 20 million yuan ($2.85 million), recorded growth of 4.8% in November, the weakest monthly year-on-year rise since August 2024.

Chinese policymakers have been looking ⁠to create new growth drivers in the economy by focusing on advancing ‌its industrial sector.

China has also vowed stronger ‍efforts to achieve technological self-reliance ‍amid intensifying rivalry with the United States over dominance ‍in advanced technology.

At the annual two-day national industrial work conference in Beijing that ended on Friday, officials pledged to deliver major breakthroughs in building a "modern industrial system" anchored by advanced manufacturing.

The ​focus will be on sectors such as integrated circuits, low-altitude economy, aerospace and biomedicine, an industry ministry ⁠statement showed.

The statement comes after China launched on Friday a national venture capital fund aimed at guiding billions of dollars of capital into "key hard technologies" such as quantum technology and brain-computer interfaces.

On artificial intelligence, the industry ministry said it will expand efforts to help small and medium-sized enterprises adopt the technology, while fostering new intelligent agents and AI-native companies in key industries.

Officials also vowed to "firmly curb" deflationary price wars, dubbed "involution", referring to excessive and low-return competition among ‌firms that erodes profits.