Saudi Arabia to Host World Expo in 2030, Crown Prince Hails Win as Culmination of Saudi Vision Goals

Saudi Foreign Minister Prince Faisal bin Farhan, accompanied by the Secretary-General of the Bureau International des Expositions (BIE) following Riyadh’s victory in securing hosting rights to Expo 2030 (Asharq Al-Awsat)
Saudi Foreign Minister Prince Faisal bin Farhan, accompanied by the Secretary-General of the Bureau International des Expositions (BIE) following Riyadh’s victory in securing hosting rights to Expo 2030 (Asharq Al-Awsat)
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Saudi Arabia to Host World Expo in 2030, Crown Prince Hails Win as Culmination of Saudi Vision Goals

Saudi Foreign Minister Prince Faisal bin Farhan, accompanied by the Secretary-General of the Bureau International des Expositions (BIE) following Riyadh’s victory in securing hosting rights to Expo 2030 (Asharq Al-Awsat)
Saudi Foreign Minister Prince Faisal bin Farhan, accompanied by the Secretary-General of the Bureau International des Expositions (BIE) following Riyadh’s victory in securing hosting rights to Expo 2030 (Asharq Al-Awsat)

Saudi Arabia secured a decisive victory in the bid to host the Expo 2030 World Fair, as announced by the Bureau International des Expositions (BIE) in Paris on Tuesday.
The confirmation came after Riyadh overwhelmingly garnered 119 votes in the initial round, marking a landslide triumph.
Following this announcement, Saudi Crown Prince Mohammed bin Salman declared that the Kingdom is set to deliver an “unprecedented edition in the history of hosting Expos,” emphasizing that “Riyadh's win in hosting Expo solidifies its leading role.”
Riyadh outperformed the Italian capital, Rome, and the South Korean city of Busan by a wide margin during the initial round of voting.
BIE announced that the kingdom would be hosting the exhibition after a secret ballot was cast during the 173rd General Assembly of BIE in Paris.
Crown Prince Mohammed bin Salman extended his congratulations to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud to mark the landmark occasion.
“The kingdom’s selection as the host of the World Expo 2030 underlines its influential and leading role and the international confidence it enjoys. Saudi Arabia has become an ideal destination for hosting major international events, including the esteemed World Expo,” said the Crown Prince.
“The World Expo 2030 coincides with a crucial year for the realization of the goals and plans outlined in Saudi Vision 2030.”
“This Expo represents a remarkable opportunity to share with the world the lessons learned from our unprecedented journey of transformation,” he added.
The Crown Prince stressed Riyadh’s readiness to welcome the world at Expo 2030, and the fact that it will fulfill the obligations stipulated in the bid with the aim of achieving the main theme of the expo, “The Era of Change: Together for a Foresighted Tomorrow”, and its subtopics: “A Different Tomorrow”, “Climate Action”, and “Prosperity for All.”
The Kingdom's bid to host the Expo received strong and direct support from the Crown Prince, starting with the Kingdom’s official application to the BIE on October 29, 2021.
The Long Parisian Day: Unraveling the Details
Saudi Foreign Minister Prince Faisal bin Farhan’s confidence in Riyadh’s bid to host Expo 2030 was not misplaced. In his presentation of Riyadh’s file before the BIE, Prince Faisal asserted that the Kingdom would emerge victorious in the competition against Italy and South Korea.
The top diplomat had affirmed that 130 countries expressed confidence in Riyadh’s proposal, and its capability to host the exposition.
According to BIE’s secretary-general, it is rare for a candidate country to secure victory from the first round, a feat achieved by Saudi Arabia with two-thirds of the votes from the outset.
During Tuesday’s session, the Saudi delegation was the last to address the General Assembly, following the diverse presentation from the South Korean and Italian delegations.
The Saudi Presentation
The Saudi delegation, led by Prince Faisal, delivered a cohesive presentation under the theme “From the World, To the World.”
They emphasized Saudi Arabia’s commitment to establishing the largest network of cooperation with nations worldwide.
Notably, Riyadh expressed its intent to allocate $384 million to assist 100 nations in need, enabling their participation in “Expo Riyadh 2030” under the banner of “One World, One Pavilion.”
Prince Faisal underscored the Kingdom’s focus on developmental goals, accelerating progress on all fronts, and addressing global challenges, including climate change, sustainable development, and international cooperation.
Speaking as he led the Saudi delegation at the general assembly on Tuesday, Prince Faisal stated, "The Kingdom is committed to collaborating with all stakeholders to deliver a distinctive edition of Expo 2030."
Princess Haifa Al-Mogrin, Saudi Arabia's representative to UNESCO, stated that the Kingdom will collaborate with all nations every step of the way until 2030.
She highlighted the focus on providing opportunities for education, health, environment, and prosperity for all.
Expo Hosting Journey
Among the five cities that initially submitted bids to host Expo 2030, two dropped out of the race early: Moscow and the Ukrainian city of Odessa, overlooking the Black Sea.
Moscow withdrew its bid due to the Russian invasion of Ukraine, and Odessa was not considered by the BIE as it did not meet the necessary conditions for organizing such a significant event.
This left Riyadh, Rome, and Busan as the remaining contenders, each presenting ambitious plans to host the prestigious expo, considered the global event in the exhibition field.
After a series of successive stages in the bidding process, the decisive moment arrived on Nov.28 with the electronic voting by the 180 member countries.
The BIE provided the final opportunity for the three competing parties to present their arguments and focus on key points they deemed “winning.”
The BIE director emphasized the need for strict adherence to the allocated time, not exceeding 20 minutes per presentation.
After Riyadh’s bid won the right to host the Expo 2030 world fair, Prince Faisal affirmed that Saudi Arabia’s victory “signifies the Kingdom's status and the international community's confidence in it.”
Prince Faisal emphasized that Saudi Arabia would present a “new type” of Expo in 2030, changing the dynamics of international exhibitions.
He expressed pride in the Kingdom’s exceptional success and thanked the nations that voted in Riyadh’s favor, acknowledging the presentations by South Korea and Italy.
Once again, he underscored that the expo is “not just for Saudi Arabia but for the entire world,” with Riyadh planning to involve all nations in its conception, planning, and execution.



World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
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World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6% higher than a year earlier, the United Nations' Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in international prices for a basket of food commodities, ‌averaged 133.9 points ‌in October, down from a revised ‌135.6 ⁠in September.

The index ⁠was 5.9% higher than a year earlier, but remained 16.4% below its March 2022 peak.

FAO's cereal price index fell 4.5% from September and was 12.6% lower than a year ago, as wheat and maize quotations declined. Wheat prices eased on weak import demand ⁠and improved production prospects, especially in Argentina.

"Expectations of ‌easing constraints on Black ‌Sea export flows added to the downward pressure on prices, ‌although continued disruptions to Black Sea logistics limited the decline," ‌FAO said in a statement.

Maize prices also eased after reaching a three-year high in September, pressured by the US harvest, expectations of ample supplies in South America and renewed ‌prospects of easing tensions in the Black Sea region.

Vegetable oil prices edged up 0.3%, ⁠as ⁠higher soybean and sunflower oil prices more than offset a fall in rapeseed oil prices.

Sugar prices rose 6.6%, their fourth straight monthly increase, to the highest level since December 2024, after rainfall disrupted harvesting in Brazil. They were now 28.8% above a year ago.

The dairy index fell 1.1%, as lower butter and cheese prices linked to ample supplies and subdued demand outweighed gains in milk powder.

The meat index declined 1.2%, while still slightly above its year-earlier level, as ovine and bovine meat prices fell.


Copper Falls, Set for Worst Week Since March on AI Rout

Copper at the Aurubis copper smelting and refining plant in Hamburg, Germany. (Reuters)
Copper at the Aurubis copper smelting and refining plant in Hamburg, Germany. (Reuters)
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Copper Falls, Set for Worst Week Since March on AI Rout

Copper at the Aurubis copper smelting and refining plant in Hamburg, Germany. (Reuters)
Copper at the Aurubis copper smelting and refining plant in Hamburg, Germany. (Reuters)

Copper dropped on Friday and was set for its biggest weekly drop in London since March, as a rout in technology stocks battered markets.

Benchmark three-month copper on the London Metal Exchange was down 1.3% at $13,663 a metric ton by 0700 GMT. That placed it on track to fall 3.44% in the week, Reuters said.

The most-traded copper contract on the Shanghai Futures Exchange fell 1.08% to 106,830 yuan ($16,018.17) a ton.

The weakness reflects worries over AI investment, ‌with copper increasingly ‌influenced by "sentiment towards data center expansion," said ‌Craig ⁠Lang, principal analyst ⁠at CRU.

Technology shares were battered after Democratic wins in the US midterms fueled concerns that new regulatory oversight could cap the AI buildout.

On the other hand, supply constraints cushioned copper's decline.

"I would be cautious about calling this a sustained correction, given ongoing mine supply challenges and exceptionally tight ⁠metal availability outside the US," Lang said.

Copper stocks ‌in SHFE-monitored warehouses <CU-STX-SGH> fell by ‌over 24% this week to just 33,848 tons — the lowest ‌in almost three years. The closely watched Yangshan copper ‌premium <SMM-CUYP-CN>, a gauge of appetite for imports into key consumer China, increased to $210 a ton on Thursday, matching its record high.

Smelters in the country are facing a double squeeze of negative treatment ‌charges and lower sulfuric acid prices.

Meanwhile, warehouse inventories outside the US have been drawn ⁠down as ⁠material was pulled into the country ahead of a potential tariff on imports of refined copper.

"These physical constraints should provide some support against weaker investor sentiment," Lang said.

Among LME metals, aluminium lost 0.54%, zinc lost 1.42%, lead lost 0.45%, nickel dipped 0.23% and tin gained 0.83%.

On the SHFE, aluminium nudged down only 0.04%, zinc lost 1.35%, lead was little changed, down only 0.03%, nickel rose 2.14% and tin dropped 3.45%.

SHFE inventories were down across the board this week, led by sharp drops in aluminium <AL-STX-SGH> and lead <PB-STX-SGH>.


Emerging Economies Set to Match Advanced Nations’ Renewable Capacity Additions, IEA Says

Workers walk at Kalyon Karapinar solar power plant in Karapinar, Konya province, Türkiye, Oct. 14, 2026. (AP)
Workers walk at Kalyon Karapinar solar power plant in Karapinar, Konya province, Türkiye, Oct. 14, 2026. (AP)
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Emerging Economies Set to Match Advanced Nations’ Renewable Capacity Additions, IEA Says

Workers walk at Kalyon Karapinar solar power plant in Karapinar, Konya province, Türkiye, Oct. 14, 2026. (AP)
Workers walk at Kalyon Karapinar solar power plant in Karapinar, Konya province, Türkiye, Oct. 14, 2026. (AP)

Emerging ‌and developing economies outside China are expected to add as much new renewable energy capacity as advanced economies for the first time over the next five years, driven by the current energy crisis, the International Energy Agency said on Friday.

Gas and oil prices have soared this year as the US-Iran war disrupts traffic through the Strait of Hormuz, a key route for global oil and gas trade.

Global renewable energy ‌capacity is forecast ‌to increase by almost 4,800 gigawatts ‌between ⁠2026 and 2031, ⁠the IEA said in its annual outlook.

Emerging and developing economies are expected to add about 1,100 GW, roughly the same as advanced economies, with China adding around 2,550 GW, the agency said.

Capacity growth in Southeast Asia, Africa and the Middle East is ⁠expected to triple over the period, ‌led mainly by solar installations, ‌the IEA said.

China will remain the biggest contributor to ‌global renewable energy growth, although its share is ‌forecast to fall to 53% by 2031 from 60% in 2025.

India is emerging as the world's second-fastest deployer of renewables and is expected to more than double its contribution ‌to global growth by 2031 to nearly 8.5%.

Grid connection delays remain ⁠a major ⁠challenge, with projects awaiting connections worldwide rising 60% over the past year, equivalent to four times the wind and solar capacity connected to grids during the same period.

Grid constraints are expected to slow growth in advanced economies, with annual additions in Europe through 2031 forecast to remain broadly in line with 2025 levels.

Renewable energy is expected to meet 6% of global transport energy demand by 2031, while higher fuel-blending mandates prompted the IEA to raise its biofuels forecast by 40% from last year's report.