Saudi Arabia Recycles 100,000 Electronic Devices to Limit Environmental Impact

The Saudi capital, Riyadh. (Asharq Al-Awsat)
The Saudi capital, Riyadh. (Asharq Al-Awsat)
TT

Saudi Arabia Recycles 100,000 Electronic Devices to Limit Environmental Impact

The Saudi capital, Riyadh. (Asharq Al-Awsat)
The Saudi capital, Riyadh. (Asharq Al-Awsat)

Saudi Arabia was able to recycle more than 100,000 electronic devices to reduce their environmental damage as part of an effort to build a sustainable digital future that supports the efficient use of resources.

A recent report by the Communications, Space and Technology Commission, a copy of which was reviewed by Asharq Al-Awsat, showed the Kingdom’s efforts in harnessing modern technologies and creating innovative business models that contribute to building a sustainable future.

These efforts are in line with Saudi Arabia’s digital sustainability strategy, which seeks to promote circular digital economy initiatives and develop regulations to reduce electronic waste in three countries.

At the 28th Conference of the Parties, the International Telecommunication Union and more than 40 partners, including governments, companies and United Nations agencies, launched the Green Digital Action Initiative to promote digital initiatives.

The Saudi Communications Authority led the efforts in the digital economy, one of the initiative’s six tracks, which demonstrates the importance of cooperation between government and industry to fill the gaps in electronic waste management for the sake of a renewable economy.

The Authority launched a set of tools to develop digital sustainability strategies in cooperation with the Digital Cooperation Organization, which includes five detailed steps, starting with raising awareness, achieving best practices, developing the strategy, promoting coordination with relevant stakeholders and finally starting the implementation phase.

These tools demonstrate the Kingdom’s commitment to contributing to the green economy and exchanging experiences with the international community to ensure the adoption of best practices to reach sustainable societies.

The report also showed that $649 billion was earmarked to support the adoption of environmental, social and corporate governance practices in 2021, an increase of 227 percent from 2019.

Saudi Arabia’s continued investments in its digital infrastructure over the past years qualify the Kingdom to be a leader in digital sustainability commitments globally, the report underlined, adding that the Communications, Space and Technology Commission is prepared to become one of the most advanced fifth-generation digital regulatory bodies at the international level.



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
TT

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.