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Riyadh Prepares For G20 with Decisive Decision, Bold Measures

Riyadh will host the G20 leaders’ summit on Nov.21-22 (Asharq Al-Awsat)
Riyadh will host the G20 leaders’ summit on Nov.21-22 (Asharq Al-Awsat)
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Riyadh Prepares For G20 with Decisive Decision, Bold Measures

Riyadh will host the G20 leaders’ summit on Nov.21-22 (Asharq Al-Awsat)
Riyadh will host the G20 leaders’ summit on Nov.21-22 (Asharq Al-Awsat)

Few days before the annual summit of the leaders of the world’s largest economies, Riyadh is finalizing draft-decisions and recommendations that would be submitted by the G20. Those will be aimed at developing efficient solutions and bold action plans to enhance recovery from the coronavirus pandemic and restore growth to the global economy.

According to information obtained by Asharq Al-Awsat, the G20 secretariat's high-level meetings concluded that great efforts should be exerted to make the Riyadh summit “decisive” and capable of restoring hope and reassurance to the peoples of the world through a set of brave measures.

Work is currently underway to issue a strong and approved final statement for the G20 leaders’ summit, which would include commitments and pledges and underline the importance of solidarity and international cooperation to coordinate a unified response for the G20 members.

According to the information, the Saudi G20 presidency will hence highlight the following vision: “The health and economic challenges facing the world cannot be managed separately by every country. The world is interconnected, so there is a need to work together, while respecting the different views, circumstances and traditions.”

Riyadh will host the G20 leaders’ summit on Nov. 21-22, after a busy year that witnessed 180 conferences, including senior ministerial meetings and two summits.

Moreover, the Saudi Presidency of the G20 has taken rapid and unprecedented measures to protect the most vulnerable.

The G20 members have contributed nearly $21 billion to support health systems, develop a vaccine, and provide more than $14 billion to alleviate the debts of developing countries. This year’s presidency also saw the pumping of about $12 trillion to protect the global economy.

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World

Iran Strikes Hard Line on US Talks, Saying Tehran's Power Comes From Saying 'No'

Traffic moves through a street in Tehran on February 7, 2026. (Photo by ATTA KENARE / AFP)
Traffic moves through a street in Tehran on February 7, 2026. (Photo by ATTA KENARE / AFP)
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Iran Strikes Hard Line on US Talks, Saying Tehran's Power Comes From Saying 'No'

Traffic moves through a street in Tehran on February 7, 2026. (Photo by ATTA KENARE / AFP)
Traffic moves through a street in Tehran on February 7, 2026. (Photo by ATTA KENARE / AFP)

Iran's top diplomat insisted Sunday that Tehran's strength came from its ability to “say no to the great powers," striking a maximalist position just after negotiations with the United States over its nuclear program and in the wake of nationwide protests.

Foreign Minister Abbas Araghchi, speaking to diplomats at a summit in Tehran, signaled that Iran would stick to its position that it must be able to enrich uranium — a major point of contention with President Donald Trump, who bombed Iranian atomic sites in June during the 12-day Iran-Israel war.

Iran will never surrender the right to enrich uranium, even if war "is imposed on us,” he noted.

"Iran has paid a very heavy price for its peaceful nuclear program and for uranium enrichment." 

Israeli Prime Minister Benjamin Netanyahu is expected to travel to Washington this week, with Iran expected to be the major subject of discussion, his office said.

While Iranian President Masoud Pezeshkian praised the talks Friday in Oman with the Americans as “a step forward,” Araghchi's remarks show the challenge ahead. Already, the US moved the aircraft carrier USS Abraham Lincoln, ships and warplanes to the Middle East to pressure Iran into an agreement and have the firepower necessary to strike the Islamic Republic should Trump choose to do so, according to The AP news.

“I believe the secret of the Islamic Republic of Iran’s power lies in its ability to stand against bullying, domination and pressures from others," Araghchi said.

"They fear our atomic bomb, while we are not pursuing an atomic bomb. Our atomic bomb is the power to say no to the great powers. The secret of the Islamic Republic’s power is in the power to say no to the powers.”

‘Atomic bomb’ as rhetorical device Araghchi's choice to explicitly use an “atomic bomb” as a rhetorical device likely wasn't accidental. While Iran has long maintained its nuclear program is peaceful, the West and the International Atomic Energy Agency say Tehran had an organized military program to seek the bomb up until 2003.

Iran had been enriching uranium up to 60% purity, a short, technical step to weapons-grade levels of 90%, the only non-weapons state to do so. Iranian officials in recent years had also been increasingly threatening that Tehran could seek the bomb, even while its diplomats have pointed to Iranian Supreme Leader Ali Khamenei’s preachings as a binding fatwa, or religious edict, that Iran wouldn’t build one.

Pezeshkian, who ordered Araghchi to pursue talks with the Americans after likely getting Khamenei's blessing, also wrote on X on Sunday about the talks.

“The Iran-US talks, held through the follow-up efforts of friendly governments in the region, were a step forward,” the president wrote. “Dialogue has always been our strategy for peaceful resolution. ... The Iranian nation has always responded to respect with respect, but it does not tolerate the language of force.”

It remains unclear when and where, or if, there will be a second round of talks. Trump, after the talks Friday, offered few details but said: “Iran looks like they want to make a deal very badly — as they should.”

Aircraft carrier in the Arabian Sea During Friday's talks, US Navy Adm. Brad Cooper, the head of the American military's Central Command, was in Oman. Cooper's presence was apparently an intentional reminder to Iran about US military power in the region. Cooper later accompanied US special envoy Steve Witkoff and Jared Kushner, Trump's son-in-law, to the Lincoln out in the Arabian Sea after the indirect negotiations.

Araghchi appeared to be taking the threat of an American military strike seriously, as many worried Iranians have in recent weeks. He noted that after multiple rounds of talks last year, the US “attacked us in the midst of negotiations."

“If you take a step back (in negotiations), it is not clear up to where it will go,” Araghchi said.

 

 

Business

Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.

Arab World

Three Deadly Attacks on Health Centers in Sudan's South Kordofan in Past Week, Says WHO

Sudanese families prepare to ride on trucks while on their way to Egypt through the Qustul border, after the crisis in Sudan's capital Khartoum, in the Sudanese city of Wadi Halfa, Sudan May 1, 2023. (Reuters)
Sudanese families prepare to ride on trucks while on their way to Egypt through the Qustul border, after the crisis in Sudan's capital Khartoum, in the Sudanese city of Wadi Halfa, Sudan May 1, 2023. (Reuters)
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Three Deadly Attacks on Health Centers in Sudan's South Kordofan in Past Week, Says WHO

Sudanese families prepare to ride on trucks while on their way to Egypt through the Qustul border, after the crisis in Sudan's capital Khartoum, in the Sudanese city of Wadi Halfa, Sudan May 1, 2023. (Reuters)
Sudanese families prepare to ride on trucks while on their way to Egypt through the Qustul border, after the crisis in Sudan's capital Khartoum, in the Sudanese city of Wadi Halfa, Sudan May 1, 2023. (Reuters)

Sudan's South Kordofan region has seen attacks on three health facilities in the past week alone, leaving more than 30 dead, the World Health Organization said Sunday, AFP reported.

"Sudan's health system is under attack again," WHO chief Tedros Adhanom Ghebreyesus said on X, pointing out that, since February 3, "three health facilities were attacked in South Kordofan, in a region already suffering acute malnutrition".