Saudi Sustainability, Climate Initiatives Shine as Global Achievements in ‘Expo 2030’ Challenges

Snapshot of Riyadh, the Saudi capital, depicts a state of competitiveness and escalating urban development (Asharq Al-Awsat)
Snapshot of Riyadh, the Saudi capital, depicts a state of competitiveness and escalating urban development (Asharq Al-Awsat)
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Saudi Sustainability, Climate Initiatives Shine as Global Achievements in ‘Expo 2030’ Challenges

Snapshot of Riyadh, the Saudi capital, depicts a state of competitiveness and escalating urban development (Asharq Al-Awsat)
Snapshot of Riyadh, the Saudi capital, depicts a state of competitiveness and escalating urban development (Asharq Al-Awsat)

Despite global challenges and threats to life and the planet, Saudi Arabia has introduced numerous initiatives that tackle these issues and offer solutions.

This was evident during the Kingdom’s presidency of the 2020 G20 Summit.

Saudi Arabia has made noteworthy contributions in sustainability, environmental preservation, carbon neutrality, promoting eco-friendly activities, and investing in the transfer and localization of technology industries for clean and sustainable energy.

According to experts interviewed by Asharq Al-Awsat, Riyadh has presented initiatives that are friendly to human life and the planet. These include the Middle East Green Initiative and the Saudi Green Initiative.

Additionally, Riyadh’s efforts in stimulating the global economy through financial solutions and revitalizing emerging and promising sectors enable it to host the best version of the World Expo 2030.

The Kingdom’s candidacy strategy for its bid to hold the international fair addresses global issues and provides all the necessary elements to achieve its goals effectively.

The timing of the Expo 2030 exhibition will coincide with the completion of the programs, projects, and goals of Vision 2030 in Saudi Arabia, said Fadel al-Buainain, a member of the Saudi Shura Council.

As a result, it will serve as a culmination of government efforts and the ambitious transformation project led by Crown Prince Mohammed bin Salman. This implies that the exhibition will serve as a gateway for visitors, investors, and leaders from around the world.

Al-Buainain believes that Expo 2030, if held in Riyadh, will stimulate global stakeholders and the investment sector to invest in the Kingdom, thereby enhancing economic diversity.

Additionally, this will lead to the transformation of the expo village and its facilities into a permanent site, subsequently becoming a comprehensive tourist destination and a global platform that attracts visitors from all around the world.

Moreover, the international exhibition is expected to offer global advancements and achievements.

Al-Buainain added that all sectors in the Kingdom are now open to investors, including the hospitality sector supporting the exhibition, as well as investments in tourism, industry, technology, infrastructure, modern transportation, and other sectors brimming with investment opportunities.



Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High

Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High
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Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High

Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High

The price of bitcoin hit a new high Wednesday and crypto-related shares rallied as investors bet that former President Donald Trump's victory in the US presidential election will be a boon for cryptocurrencies.

Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing its previous record set in March. Other cryptocurrencies also soared, including ether, the world's second most popular cryptocurrency after bitcoin, which rallied 8%.

Another token, dogecoin, rocketed as much as 18%. It's the favorite cryptocurrency of billionaire Elon Musk, one of Trump's most prominent supporters, The AP reported.

Crypto-related shares outran the rest of the stock market. Coinbase, one of the biggest cryptocurrency exchanges, leaped 17%. Online brokerage Robinhood Markets, which offers crypto trading, soared 12% and MicroStrategy, which says it is the “largest corporate holder of bitcoin,” jumped 10%.

Trump was previously a crypto skeptic but changed his mind and embraced cryptocurrencies ahead of the election.

He has pledged to make America "the crypto capital of the planet" and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted crypto fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.

Bitcoin is up 77% this year.

“Bitcoin is the one asset that was always going to soar if Trump returned to the White House," said Russ Mould, investment director at AJ Bell, a British online investment platform. After touching its new high, the market is now speculating about “when, not if, it will smash through $100,000," he said.

“Trump has already declared his love of the digital currency and crypto traders now have a new narrative by which to get even more excited about where the price could go,” Mould said.

But other experts warned of the risks.

“Investors should only dabble in crypto with money that they can be prepared to lose,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown. “Because we’ve seen these wild swings in the past.”

Crypto industry players welcomed Trump's victory, in hopes that he would be able to push through legislative and regulatory changes that they've long lobbied for.

Trump had already promised that, if elected, he would remove the chair of the Securities and Exchange Commission, Gary Gensler, who has been leading the US government’s crackdown on the crypto industry.

“Tonight the crypto voter has spoken decisively — across party lines and in key races across the country,” said Coinbase CEO Brian Armstrong . “Americans disproportionately care about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to deliver it,” Armstrong posted on X.

Streeter said Trump's administration would most likely pursue “light touch regulation” for the crypto industry.

“Certainly that’s what crypto fans would want," she said. “They want the sheen of legitimacy to be brought to crypto, but they don’t want regulations to be too onerous to stop opportunities and innovation.”