Riyadh Expo 2030 to Introduce Packages Supporting Participation of Developing Nations

A map illustrating the proposed location of the Riyadh Expo 2030 exhibition in the northern part of the Saudi capital, Riyadh. (Asharq Al-Awsat)
A map illustrating the proposed location of the Riyadh Expo 2030 exhibition in the northern part of the Saudi capital, Riyadh. (Asharq Al-Awsat)
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Riyadh Expo 2030 to Introduce Packages Supporting Participation of Developing Nations

A map illustrating the proposed location of the Riyadh Expo 2030 exhibition in the northern part of the Saudi capital, Riyadh. (Asharq Al-Awsat)
A map illustrating the proposed location of the Riyadh Expo 2030 exhibition in the northern part of the Saudi capital, Riyadh. (Asharq Al-Awsat)

The proposed site in the Saudi capital for hosting the Riyadh Expo 2030 has been divided into four zones based on the exhibition’s three sub-themes, sources familiar with the bid to host the exhibition told Asharq Al-Awsat.

The sub-themes are “Prosperity for All,” “Climate Action,” and “A Different Tomorrow.” The fourth zone, however, is linked to the Kingdom’s main development plan, Vision 2030.

Each of these zones features a main pavilion covering a total area of approximately 3.4 square kilometers.

Participating countries will also have the option to construct their own pavilions or rent pre-existing structures.

In an ambitious effort to accommodate all nations at the Expo, Riyadh’s bid targets participation from 196 countries, in addition to Saudi Arabia and 29 international organizations.

This goal, while ambitious, appears achievable, considering factors such as Dubai’s hosting of Expo 2020, which welcomed 192 countries.

The organizing committee for Riyadh Expo 2030 has identified 100 qualified countries to receive dedicated facilities within a set of packages, which will be announced by the first quarter of 2030.

These packages aim to support the participation of nations lacking the necessary financial resources to cover all expenses related to their involvement in the exhibition, with selection criteria based on factors such as multilateral agreements, urban populations, and tourism appeal.

Riyadh Expo 2030 aims to empower developing nations to take the lead, offering a platform for them to showcase more compelling cultural content.

Additionally, it will provide an ideal stage for companies, sectors, and governments to promote themselves, attracting business, investment, and visitors.

Furthermore, the exhibition will allocate spaces for each region within the Expo to host their programs of events, informing participating countries and visitors about scientific, cultural, commercial, and investment opportunities.

Riyadh’s chances of winning the bid to host the Expo are on the rise, with the addition of new countries to the list of supporters.

This includes several African nations and Iran, as confirmed by Iran’s Foreign Minister, Hossein Amir-Abdollahian, following his visit to the Kingdom in mid-August.



Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
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Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict.
Brent crude futures gained 10 cents, or 0.1%, to $74.33 a barrel by 0448 GMT. US West Texas Intermediate crude futures rose 13 cents, or 0.2%, to $70.23 per barrel.
Both contracts jumped 2% on Thursday and are set to cap gains of more than 4% this week, the strongest weekly performance since late September, as Moscow stepped up its offensive against Ukraine after the US and Britain allowed Kyiv to strike Russia with their weapons.
Putin said on Thursday it had fired a ballistic missile at Ukraine and warned of a global conflict, raising the risk of oil supply disruption from one of the world's largest producers.
Russia this month said it produced about 9 million barrels of oil a day, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+.
Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Swelling US crude and gasoline stocks and forecasts of surplus supply next year limited price gains.
"Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of OPEC and shale supply limiting price downside," Goldman Sachs analysts led by Daan Struyven said in a note.
"However, the risks of breaking out are growing," they said, adding that Brent could rise to about $85 a barrel in the first half of 2025 if Iran supply drops by 1 million barrels per day on tighter sanctions enforcement under US President-elect Donald Trump's administration.
Some analysts forecast another jump in US oil inventories in next week's data.
"We will be expecting a rebound in production as well as US refinery activity next week that will carry negative implications for both crude and key products," said Jim Ritterbusch of Ritterbusch and Associates in Florida.
The world's top crude importer, China, meanwhile on Thursday announced policy measures to boost trade, including support for energy product imports, amid worries over Trump's threats to impose tariffs.