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Saudi Initiatives Contributing to Creating a Sustainable Future Through Space

Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
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Saudi Initiatives Contributing to Creating a Sustainable Future Through Space

Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)

Saudi Arabia has achieved 96% of the targets set by the “Connect 2030” program, established by the International Telecommunication Union. This program aims to attain the Sustainable Development Goals by leveraging communication and technological services.

 

According to a report released by Saudi Arabia’s Communications, Space and Technology Commission on Sunday, the Kingdom is making significant strides in contributing to a sustainable future through space initiatives.

Saudi Arabia has accomplished a 100% success rate in various domains under the “Connect 2030” program, notably in terms of inclusivity by bridging the digital divide and providing widespread access to broadband services.

Additionally, the Kingdom excelled in forming partnerships by enhancing collaboration between International Telecommunication Union members and all stakeholders to support strategic objectives.

Saudi Arabia also achieved a 100% growth rate by enabling and enhancing access to communication and technology, fostering the digital economy, society, and promoting innovation in communications and technology to support societal digital transformation.

In terms of sustainability, Saudi Arabia scored 80% in risk management, addressing challenges and emerging opportunities resulting from the rapid growth of communications and technology.

According to the report, there were 87 local digital products launched in the past year, with 11 companies accepted, including five international ones.

The Communications, Space and Technology Commission had declared that Saudi Arabia is the world’s first country to successfully test the fifth-generation technology using a high-altitude platform system.

During the past year, the Kingdom advanced the principles of sustainability, making strides in empowering women and promoting environmental initiatives and renewable energy.

The telecommunications, space, and technology sector played a significant role in numerous achievements, including launching initiatives to reduce electronic waste and carbon emissions, expanding communication services to bridge the digital divide and facilitate modern technologies, as well as building capacity and empowering women.

The representation of women in leadership positions in the telecommunications and technology sector reached 23.60%, and 41,000 women were empowered to seize new opportunities.

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Yemen’s Fragile Economy Feels the Heat of Iran-Israel Conflict

Fears mount over the impact of military escalation on the Yemeni currency, which has recently seen a rapid decline (AFP). 
Fears mount over the impact of military escalation on the Yemeni currency, which has recently seen a rapid decline (AFP). 
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Yemen’s Fragile Economy Feels the Heat of Iran-Israel Conflict

Fears mount over the impact of military escalation on the Yemeni currency, which has recently seen a rapid decline (AFP). 
Fears mount over the impact of military escalation on the Yemeni currency, which has recently seen a rapid decline (AFP). 

The ripple effects of the escalating conflict between Iran and Israel are being felt in Yemen’s fragile economy. The already-depreciated Yemeni rial has fallen further, fuel prices have surged following a government decision, and fears of wider inflation loom over one of the region’s most vulnerable economies.

Last week, the exchange rate for the US dollar crossed 2,750 Yemeni rials before slightly retreating. Economists warn the rial will likely continue to weaken amid broader regional instability. In response, Prime Minister Salem bin Braik announced an emergency 100-day plan to stabilize the economy and ensure basic state obligations, including public sector salaries.

The government also introduced new fuel pricing, raising costs by up to $1 per 20-liter container of gasoline and diesel. This marks the fourth fuel price hike this year, compounding pressure on Yemen’s already burdened consumers.

With Yemen importing over 95% of its goods, any increase in global shipping costs or insurance premiums immediately impacts domestic prices.

Economist Rashid Al-Ansi explained to Asharq Al-Awsat that the cost of food, fuel, and other essential goods is rising due to the weakened currency and regional tensions. Unlike neighboring countries, he added, Yemen lacks the fiscal space and policy flexibility to absorb such shocks.

Adding to the strain, foreign currency reserves are being depleted as locals rush to convert their savings into dollars or gold amid fears of an open war between Israel and Iran. This has raised concerns of further rial depreciation and capital flight, according to economist Fares Al-Najjar.

Al-Najjar also warned that remittance flows - Yemen’s main source of foreign currency - may decline due to global uncertainty, reducing the central bank’s ability to stabilize the market. The government is already struggling to fund basic services, including electricity in Aden and water supply in Taiz.

Experts are particularly concerned about potential disruption to maritime trade. If military tensions spill over into the Red Sea or Gulf of Aden, Yemen’s surrounding waters could be labeled “high-risk zones,” driving shipping and insurance costs up by as much as 300%. This would cripple import flows and make oil exports - Yemen’s last lifeline for foreign currency - nearly impossible.