عربي English Türkçe اردو فارسى
Logo
Latest News
Business

G20 Riyadh Summit Promotes Spirit of Eradicating Corruption

G20 Anti-Corruption Ministers met in February, Asharq Al-Awsat
G20 Anti-Corruption Ministers met in February, Asharq Al-Awsat
TT
TT

G20 Riyadh Summit Promotes Spirit of Eradicating Corruption

G20 Anti-Corruption Ministers met in February, Asharq Al-Awsat
G20 Anti-Corruption Ministers met in February, Asharq Al-Awsat

Saudi Arabia’s fight against corruption and its disastrous repercussions on human and economic development goes beyond guarding its internal environment to promoting its role in defending the international community from the effects of the dangerous scourge.

The Saudi Presidency of the G20 has taken the initiative to establish a global network of operations for law enforcement authorities concerned with combating corruption. This comes to complement existing counter-corruption platforms fount in the Organization for Economic Co-operation and Development and Interpol.

“We will continue to lead by example in the global fight against corruption. In this regard, we welcome the first G20 Anti-Corruption Ministerial Meeting. We will continue to promote global integrity in response to the pandemic, and we endorse the G20 Call to Action on Corruption and COVID-19,” read the final communique of the G20 leaders at the end of the G20 Riyadh Summit.

The Riyadh initiative has received international praise and welcome for working to protect world security.

Saudi Arabia enjoys a long history in fighting against all kinds of corruption. It has established many laws and regulations that create and provide a healthy societal environment and protect businesses.

Many committees were formed at relevant ministries to fight all forms of corruption.

In 2011, the Kingdom founded the National Anti-Corruption Commission (Nazaha) to protect public money.

In 2019, King Salman, heeding recommendations made by Crown Prince Mohammed bin Salman, ordered merging the Control and Investigation Board and Administrative Investigations under Nazaha.

The era overseen by the Saudi Crown marked a turning point in the fight against corruption, not only in Saudi Arabia, but also the region as a whole.

Saudi anti-corruption measures have received international praise that valued their ability to advance and safeguard one of the world's most prominent emerging economies, impacting the international economy.

Riyadh has intensified its strenuous efforts in combating corruption by sharing its experiences with countries around the world, concluding numerous agreements and MoUs.

G20 anti-corruption ministers have stressed the importance of existing international anti-corruption architecture, particularly the obligations and commitments outlined in the United Nations Convention against Corruption (UNCAC), the United Nations Convention against Transnational Organized Crime (UNTOC), the Organization for Economic Co-operation and Development (OECD) Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and related instruments, and the Financial Action Task Force (FATF) Standards.

According to the ministers, these instruments collectively comprise a strong set of measures which countries should put in place to prevent and combat corruption, money laundering and other related serious economic crimes.

Most Viewed

 
 
Business

Saudia to Launch Riyadh-Kozhikode Flights in February

Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo
Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo
TT
TT

Saudia to Launch Riyadh-Kozhikode Flights in February

Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo
Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo

Saudia Airlines has added Kozhikode, India, to its network of scheduled international destinations, marking its seventh destination in the country alongside Bangalore, Mumbai, Kochi, Delhi, Hyderabad, and Lucknow, as part of the airline’s strategy to reach new international markets, connect the Kingdom to the world through its modern fleet, and strengthen its global competitive position, SPA reported.

Flights to Kozhikode will begin on February 1, 2026, with four weekly departures from King Khalid International Airport in Riyadh.

Reservations are available through the airline’s website and mobile applications.

The addition of Kozhikode further expands Saudia's growing operational network, which now covers over 100 destinations across four continents and operates more than 550 domestic and international flights daily.

Business

Egypt Signs Renewable Energy Deals Worth $1.8 Billion

The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany
The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany
TT
TT

Egypt Signs Renewable Energy Deals Worth $1.8 Billion

The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany
The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany

Egypt has signed renewable energy deals worth a combined $1.8 billion, state TV reported on Sunday.

Among the deals were contracts with Norwegian renewable energy developer Scatec and China's Sungrow.

Egypt hopes to have renewable energy reach 42% of its electricity generation mix by 2030, but officials say the goal will be ⁠at risk without more international support.

The first project will be the construction by Scatec of a solar energy plant to generate electricity and energy storage stations in Upper Egypt's Minya, ⁠an Egyptian cabinet statement said.

It would have a generation capacity of 1.7 gigawatts supported by battery storage systems with total capacity of 4 gigawatt hours.

A second project will be a Sungrow factory to manufacture energy storage batteries at the Suez Canal Economic Zone. A share of the factory's output ⁠would be supplied to the first project, the cabinet said.

The deals also include power purchase agreements, with Scatec signing a deal for total capacity of 1.95 gigawatts and 3.9 gigawatt hours of battery storage systems, the Norwegian company said in a statement.

Business

Iraq Says Gas Flaring to Reach Zero by End-2028

Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference
Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference
TT
TT

Iraq Says Gas Flaring to Reach Zero by End-2028

Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference
Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference

Iraq’s Prime Minister Mohammed Shia al-Sudani stated on Saturday that the government is moving forward with the development of clean and renewable energy sectors.

Speaking at the opening of the Iraq Energy Exhibition and Conference, al-Sudani said Iraq has made significant progress in capturing associated gas, with the rate of flaring reduced by more than 72%.

He said flaring will be fully eliminated by the end of 2028.

“We have infrastructure projects at the level of the Ministry of Oil that ensure export capacity and the diversification of export outlets,” al-Sudani said, according to the Iraqi News Agency.

He added that Iraq is holding talks with international companies to invest in associated gas and free gas in oil fields and exploration blocks, expressing hope that the conference would help reinforce this direction. He said the government has also moved toward establishing a permanent platform to secure Iraq’s gas needs through imports or future exports.

Al-Sudani stated that the Ministry of Electricity is working to increase power generation under an ambitious plan that exceeds 57,000 megawatts through the Siemens and GE project.

He added that the ministry is also advancing renewable energy projects, both large and small, with a plan at the district and subdistrict levels in Baghdad and other provinces to transition to renewable energy, which is expected to be implemented by next summer.

He said the government is placing strong emphasis on both conventional and renewable energy in a way that ensures sustainable development.

Al-Sudani stated that the exhibition showcases Iraq’s position as a promising market with significant opportunities in the energy sector, through various projects, partnerships, and investment opportunities.

He said the government has made significant progress in boosting energy production through major oil projects in partnership with global companies, including TotalEnergies and BP, adding that talks are ongoing with ExxonMobil, Chevron, and other international firms.

Talks with Chevron

Iraq’s Oil Minister Hayan Abdul Ghani said talks are underway with Chevron regarding the West Qurna 2 oil field, which is operated by Lukoil and represents the company’s largest foreign asset.

Chevron and Exxon Mobil are among the potential bidders for Lukoil’s overseas assets following the imposition of US sanctions on the Russian oil producer.

Speaking to reporters after the opening of the energy exhibition and conference, Abdul Ghani stated that negotiations with Chevron over the West Qurna 2 field in Basra province are ongoing.

He added that Basra Oil Company, the second partner in the field, has not yet taken over operations following Lukoil’s withdrawal.

Al-Sudani opened the 11th edition of the Iraq Energy Exhibition and Conference in Baghdad on Saturday, with the participation of more than 450 local, Arab, and international companies specializing in energy and investment.

The event runs for three days.

The Iraqi Company for Exhibitions and Commercial Services said the conference, held at the Baghdad International Fairgrounds from Jan. 10 to 12, will feature panel discussions, specialized workshops, and meetings aimed at supporting the energy sector and expanding partnership and investment opportunities, with participation from more than 450 companies.

Iranian gas

Iraq’s Ministry of Electricity said there are no indications that Iranian gas supplies will resume soon.

A ministry spokesperson stated that media outlets were notified via a message from Iran on Telegram, which indicated that gas supplies had been halted due to low temperatures and Tehran’s domestic gas needs.

Iraq announced in December that Iranian gas supplies had ceased, resulting in the shutdown of some power generation units and load reductions at others. The Ministry of Electricity said the grid lost between 4,000 and 4,500 megawatts as a result.

Iran supplies between 30% and 40% of Iraq’s gas and electricity needs.

Electricity ministry officials previously stated that peak winter demand in Iraq reaches approximately 48,000 megawatts, while domestic production stands at around 27,000 megawatts, forcing the country to rely on imports to bridge the gap.