Saudi Arabia to Host Conference on Water Desalination in Space

Saudi Arabia will host a conference to discuss the future of water desalination and the latest industrial developments. (Asharq Al-Awsat)
Saudi Arabia will host a conference to discuss the future of water desalination and the latest industrial developments. (Asharq Al-Awsat)
TT

Saudi Arabia to Host Conference on Water Desalination in Space

Saudi Arabia will host a conference to discuss the future of water desalination and the latest industrial developments. (Asharq Al-Awsat)
Saudi Arabia will host a conference to discuss the future of water desalination and the latest industrial developments. (Asharq Al-Awsat)

Saudi Arabia’s capital Riyadh will host the Future of Desalination International Conference (FDIConf 2022).

It is the first global gathering of its kind that explores the prospects and solutions for the future of water in the world to develop the industry and research and propose sustainable solutions.

The three-day event, “Desalination in Space”, is being organized by the Saline Water Conversion Corporation (SWCC) and will be held on September 11.

Policymakers, innovators, financiers, marketers, operators, contractors, developers, and technology suppliers from around the world are set to participate.

The event will draw a roadmap for the development of the unconventional water resources industry until 2030 through workshops and a 3D presentation on desalination in space, undersea and in snowy areas, and virtual simulation stations that operate without humans.

It seeks to present a progressive and ambitious reading of the future in the field of water desalination, in line with advanced research, to benefit from space sciences and related experiments.

Experts will discuss new visions related to water desalination activity according to the available information, requirements and future research in the field of space.

It aims to suggest solutions that may held reduce carbon emissions by 50%, developing revenues in the industry, and controlling the cost of water desalination to reach the world record price of $0.32 per cubic meter.

The event will kick off with a ministerial session and an inaugural session, as well as an accompanying exhibition on water desalination.

Relevant parties will sign agreements and memoranda of understanding to underscore Saudi Arabia's pioneering role in water desalination.

The SWCC was established in 1974 as an independent governmental institution with a legal personality, mandated and entrusted with desalination of seawater and delivery of desalinated water produced to various regions across the Kingdom.



IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
TT

IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)

The International Monetary Fund said on Wednesday it reached a staff-level agreement with Egypt on the fourth review under its Extended Fund Facility arrangement, potentially unlocking a $1.2 billion disbursement under the program.

Egypt, grappling with high inflation and shortages of foreign currency, agreed to the $8 billion, 46-month facility in March. A sharp decline in Suez Canal revenue caused by regional tensions over the last year compounded its economic woes.

The IMF said Egypt's government had agreed to increase its tax-to-revenue ratio by 2% of gross domestic product over the next two years, with a focus on eliminating exemptions rather than increasing taxes.

This would give it space to increase social spending to help vulnerable groups, the IMF said in a statement.

"While the authorities' plans to streamline and simplify the tax system are commendable, further reforms will be needed to enhance domestic revenue mobilization efforts," the statement said.

Egypt had agreed to make more decisive efforts to ensure the private sector became the main engine of growth and to sustain its commitment to a flexible exchange rate, the IMF statement added.

The staff-level agreement of the fourth review must still be approved by the IMF's executive board.