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)
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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.



Most Base Metals Fall as US Recession Jitters Dampen Sentiment

Specialist Dilip Patel works at his post on the floor of the New York Stock Exchange, Monday, Aug. 5, 2024. Nearly everything on Wall Street is tumbling as fear about a slowing US economy worsens and sets off another sell-off for financial markets around the world.(AP Photo/Richard Drew)
Specialist Dilip Patel works at his post on the floor of the New York Stock Exchange, Monday, Aug. 5, 2024. Nearly everything on Wall Street is tumbling as fear about a slowing US economy worsens and sets off another sell-off for financial markets around the world.(AP Photo/Richard Drew)
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Most Base Metals Fall as US Recession Jitters Dampen Sentiment

Specialist Dilip Patel works at his post on the floor of the New York Stock Exchange, Monday, Aug. 5, 2024. Nearly everything on Wall Street is tumbling as fear about a slowing US economy worsens and sets off another sell-off for financial markets around the world.(AP Photo/Richard Drew)
Specialist Dilip Patel works at his post on the floor of the New York Stock Exchange, Monday, Aug. 5, 2024. Nearly everything on Wall Street is tumbling as fear about a slowing US economy worsens and sets off another sell-off for financial markets around the world.(AP Photo/Richard Drew)

Prices of most industrial metals dropped on Tuesday, weighed down by bleak demand outlook following US data that sparked fears of a possible recession in the world's biggest economy.
Three-month copper on the London Metal Exchange (LME) was down 0.3% at $8,858.50 per metric ton, as of 0303 GMT. The contract was hovering near a 4-1/2-month low of $8,714 hit in the previous session, Reuters said.
The most-traded September copper contract on the Shanghai Futures Exchange (SHFE) declined 2.5% to 71,260 yuan ($9,964.90) a ton. The contract tumbled as much as 3.3% earlier in the session to 70,630 yuan, its lowest since March 13.
US data showed job growth fell short of expectations and the unemployment rate rose, pointing to possible weakness in the labor market and greater vulnerability to recession.
On the COMEX, fund managers dropped their bullish bets for copper, with net long positioning down to 9,449 contracts on July 30, an 87% drop from May 21, latest exchange data showed.
LME copper has shed 20% since its record high of $11,104.50 a ton hit on May 20.
Physical demand, however, improved as prices fell.
The premium to import copper into China rose to $48 a ton on Monday, the highest since March 18. Copper stocks in SHFE warehouses eased to 295,141 tons, the lowest since May 17, although inventories outside of China remained elevated.
LME aluminium eased 0.1% to $2,248.50 a ton, nickel edged down 0.4% at $16,205, zinc dipped 0.2% to $2,629, while tin advanced 0.3% to $29,570 and lead rebounded 0.7% to $1,944.50 after tumbling 4.6% in the previous session.
SHFE aluminium fell 0.7% to 18,855 yuan a ton, nickel dropped 1.1% to 128,910 yuan, zinc declined 1.4% to 22,225 yuan, lead shed 3% to 17,345 yuan and tin decreased 1.6% to 243,880 yuan.
SHFE lead hit its lowest since May 7 of 17,075 yuan, tracking losses in the previous session on the LME.