Saudi Chief Climate Agreements Negotiator: Saudi Arabia Will Remain ‘Kingdom of Traditional, Renewable Energy’

The Saudi Chief Negotiator for the Climate Agreements Khalid Abuleif (Asharq Al-Awsat)
The Saudi Chief Negotiator for the Climate Agreements Khalid Abuleif (Asharq Al-Awsat)
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Saudi Chief Climate Agreements Negotiator: Saudi Arabia Will Remain ‘Kingdom of Traditional, Renewable Energy’

The Saudi Chief Negotiator for the Climate Agreements Khalid Abuleif (Asharq Al-Awsat)
The Saudi Chief Negotiator for the Climate Agreements Khalid Abuleif (Asharq Al-Awsat)

Saudi Arabia has launched a host of initiatives and creative solutions for the global climate crisis in tandem with the UN’s flagship 2022 climate summit, COP 27. The Kingdom has held the second edition of the forums of the Saudi Green Initiative (SGI) and the Middle East Green Initiative (MGI).

The forums were launched under the widespread sponsorship of Saudi Crown Prince Mohammed bin Salman.

Over the course of the conference, the Kingdom made numerous announcements regarding climate and unconventional solutions to deal with the global crisis.

They included planting billions of trees in deserts, launching specialized environmental indicators in the energy field, new technological innovations to reduce emissions, as well as multiple multibillion-dollar deals for producing renewable energy.

The Saudi Chief Negotiator for the Climate Agreements Khalid Abuleif has affirmed to Asharq Al-Awsat that his country’s rich energy resources are the reason why Saudi Arabia is called an “energy Kingdom.”

“God has granted the Kingdom all the natural resources in the field of energy,” said Abulief, noting that Saudi Arabia has a great capacity for both solar and wind energy production.

“We have rare metals, and they have a wonderful future...and that of course is in addition to the hydrocarbon treasures underground.”

“All we need is to find and localize technologies, and ensure that they become an integral part of the national economy, not only in order to provide our energy needs, but also to export it, through electrical interconnection with the Gulf states, Iraq and Egypt,” asserted Abulief.

Abulief also noted that the Kingdom can produce both green and blue hydrogen.

“The Kingdom is one of the world's largest countries in desalination technologies and has enormous potential in this industry; this is crucial for the production of green hydrogen,” said Abulief, adding that the Kingdom can also use its carbon capture and storage technologies to produce blue hydrogen.

“All of these are opportunities that we can take advantage of,” affirmed Abulief.

Abulief also highlighted the Kingdom’s abilities in implementing a Carbon Circular Economy (CCE).

“Even for oil and gas, the Kingdom has capabilities to control the gas generated from burning them, so that they are captured and then converted into part of the economic system, whether through recycling or use, or underground storage in special reservoirs,” said Abulief.

When asked on whether the Saudi initiatives will give the Kingdom the opportunity to lead the renaissance of renewable energy globally, side by side with conventional energy, Abulief said: “I have absolutely no doubt about the Kingdom’s ability to do so, because it can produce large quantities of renewable and hydrocarbon energies, while at the same time maintaining its environmental commitments and emission reduction goals.”



Stocks Drop, Oil Rises after Trump Iran Threat

Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP
Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP
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Stocks Drop, Oil Rises after Trump Iran Threat

Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP
Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP

Most Asia equities fell and oil prices rose on Friday after Donald Trump ratcheted up Middle East tensions by hinting at possible military strikes on Iran if it did not make a "meaningful deal" in nuclear talks.

The remarks fanned geopolitical concerns and cast a pall over a tentative rebound in markets following an AI-fueled sell-off this month.

Traders are also looking ahead to the release of US data later in the day that will provide a fresh snapshot of the world's top economy, said AFP.

A slew of forecast-beating figures over the past few days have lifted optimism about the outlook but tempered expectations for more interest rate cuts.

The US president told the inaugural meeting of the "Board of Peace", his initiative to secure stability in Gaza, that Tehran should make a deal.

"It's proven to be over the years not easy to make a meaningful deal with Iran. We have to make a meaningful deal otherwise bad things happen," he said, as he deployed warships, fighter jets and other military hardware to the region.

He warned that Washington "may have to take it a step further" without any agreement, adding: "You're going to be finding out over the next probably 10 days."

Israeli Prime Minister Benjamin Netanyahu earlier warned: "If the ayatollahs make a mistake and attack us, they will receive a response they cannot even imagine."

The threats come days after the United States and Iran held a second round of Omani-mediated talks in Geneva as Washington looks to prevent the country from getting a nuclear bomb, which Tehran says it is not pursuing.

The prospect of a conflict in the crude-rich Middle East has sent oil prices surging this week, and they extended the gains Friday to sit at their highest levels since June.

Equity traders were also spooked.

Hong Kong fell as it reopened from a three-day break, while Tokyo, Sydney, Wellington and Bangkok were also down. However, Seoul continued to rally to a fresh record thanks to more tech buying, with Singapore, Manila and Mumbai also up.

City Index market analyst Matt Simpson said a strike was not certain.

"At its core, this looks like pressure and leverage rather than a prelude to invasion," he wrote.

"The US is pairing military readiness with stalled nuclear negotiations, signaling it has credible strike options if talks fail. That doesn't automatically translate into boots on the ground or a regime-change campaign.

"While military assets dominate headlines, diplomacy is still in motion. The fact talks are continuing at all suggests both sides are still probing for a diplomatic off-ramp before tensions harden further."

Shares in Jakarta slipped even after Trump and Indonesian President Prabowo Subianto reached a trade deal after months of wrangling.

The accord sets a 19 percent tariff on Indonesian goods entering the United States. The Southeast Asian country had been threatened with a potential 32 percent levy before the pact.

Jakarta also agreed to $33 billion in purchases of US energy commodities, agricultural products and aviation-related goods, including Boeing aircraft.


Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
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Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)

The third edition of the “Mirkaz ABalad AlAmeen”, a leading platform for exchanging opportunities in Makkah, will kick off on Sunday, under the theme “Makkah Inspires the World.”

The platform, organized by the Holy Makkah Municipality, will feature 15 exceptional Ramadan evenings focused on dialogue, knowledge exchange, and cross-sector engagement.

Makkah Mayor Musad Aldaood said the platform redefines development from Makkah, where faith meets inspiration and values are transformed into a comprehensive civilizational experience.

He noted that the initiative reflects the ambitions of Saudi Vision 2030 and showcases Makkah to the world as a living model of creativity, leadership, and innovation.

The upcoming edition will host more than 65 speakers, including executive leaders and decision-makers from across all three sectors, alongside futurists, entrepreneurs, and leading voices in culture and inspiration from artists, writers, media professionals, and innovators.

The program targets 12 key sectors: technology and digital transformation, financial investment, communications and media, real estate development, transport and logistics, banking services, youth and sports, tourism and culture, hospitality and catering, Hajj and Umrah, the third sector, and healthcare.


Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
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Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)

The Saudi Ports Authority (Mawani) granted on Thursday a unified license to international shipping line Global Shipping Line (PIL), officially recognizing it as an authorized foreign investor to operate maritime agencies in the Kingdom's ports, reported the Saudi Press Agency.

The license is issued in accordance with the regulations outlined in the Maritime Agency Services, reflecting Mawani's commitment to boosting the efficiency of the maritime sector and improving the quality of operational services provided at ports.

It aims to attract global expertise and facilitate knowledge transfer within the Kingdom, aligning with international best practices in the maritime transport industry.

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector.

PIL, which operates from its regional headquarters in Riyadh, manages operations in 29 countries.

The move strengthens the Kingdom's position as a crucial logistics hub, in line with the National Transport and Logistics Strategy, while attracting more international shipping lines. It reinforces Saudi Arabia's role as a key link among three continents.