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Saudi Arabia Calls for Integrating Circular Carbon Methods to Manufacturing, Production Systems

Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
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Saudi Arabia Calls for Integrating Circular Carbon Methods to Manufacturing, Production Systems

Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that the kingdom was not part of the climate change crisis, emphasizing that the Kingdom is working seriously towards leading the world to a life free of carbon and gas emissions.

Underlining that Saudi Arabia was working towards a solution for climate change, Prince Abdulaziz affirmed that capturing Carbon will be the critical technology everyone must work on and collaborate on implementing.

During a seminar held in Riyadh on Wednesday, Prince Abdulaziz explained that several gases, other than CO2, are being emitted, such as methane.

For Saudi Arabia’s part, the energy minister reaffirmed that the Kingdom has the capabilities needed to lead an appropriate solution.

“Compared to the US, Canada, Britain, Russia, Mexico, Brazil, Venezuela, and other countries, our numbers show that we stand far from the emissions of these countries,” said Prince Abdulaziz, noting that the Kingdom is among the promoters of green economies.

He stressed the need to enhance international cooperation on employing the latest technology to help integrate circular carbon systems at all levels, enable industrial integration, prevent emissions, and create climate-friendly structures that support sustainable development.

Prince Abdulaziz stressed that Riyadh had called on all world countries to adopt this initiative to achieve carbon neutrality.

Prince Abdulaziz’s remarks were given at a virtual symposium entitled “Circular Carbon Economy: Total Carbon Management” organized by the Saudi Industrial Development Fund (SIDF).

The seminar brought together clean energy researchers, policymakers, regulators, and academics for practical discussions on policy and regulatory reforms needed to advance clean energy technologies and innovation successfully.

It tackled topics related to manufacturing and production systems integrating circular carbon systems at all levels.

Prince Abdulaziz stressed that Saudi Arabia would not be part of the global problem but instead will be at the forefront of work towards a solution and environmentally friendly activities.

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Business

Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
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Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)

Turkish consumer price inflation was 1.94% month-on-month in March, while the annual figure fell to 30.87%, data from the Turkish Statistical Institute showed ‌on Friday.

In ‌a Reuters ‌poll, ⁠monthly inflation was ⁠forecast to be 2.32%, with the annual rate seen at 31.4%, driven by ⁠a rise in ‌fuel prices ‌and weather-related pressures ‌on food inflation.

In ‌February, consumer prices rose 2.96% month-on-month and 31.53% year-on-year, broadly in ‌line with estimates and reinforcing expectations that ⁠the ⁠disinflation process may be stalling.

The data also showed the domestic producer index rose 2.30% month-on-month in March for an annual increase of 28.08%.

Business

Oil Prices Surge While Asian Share Prices Rise Moderately

FILE - Workers walk in an area at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the US and Israeli attacks on Iran, near Basra, Iraq, March 28, 2026. (AP Photo/Leo Correa, File)
FILE - Workers walk in an area at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the US and Israeli attacks on Iran, near Basra, Iraq, March 28, 2026. (AP Photo/Leo Correa, File)
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Oil Prices Surge While Asian Share Prices Rise Moderately

FILE - Workers walk in an area at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the US and Israeli attacks on Iran, near Basra, Iraq, March 28, 2026. (AP Photo/Leo Correa, File)
FILE - Workers walk in an area at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the US and Israeli attacks on Iran, near Basra, Iraq, March 28, 2026. (AP Photo/Leo Correa, File)

Oil prices continued to surge on worries of a prolonged Iran war but the Asian markets that were open Friday rose moderately in cautious trading, while others were closed for the Good Friday holidays.

Benchmark US crude rose 11.4% to $111.54 a barrel. The price of Brent crude, the international standard, jumped 7.8% to $109.03 per barrel, The Associated Press said.

“A more extended conflict raises the threat to physical infrastructure, extends disruptions through the Strait of Hormuz, and will entail a longer post-war recovery period, with price impacts spilling over later into the year,” according to a report from BMI, a unit of Fitch Solutions.

The US only relies on the Arabian Gulf for a fraction of the oil it imports, but oil is a commodity and prices are set in a global market.

The situation is very different in Asia. Japan, for example, relies on access to the Strait of Hormuz for much of the nation’s oil import needs and would need to rely on alternative routes. But some analysts say Japan and other nations are counting on an agreement with Iran to allow transports.

Japan’s benchmark Nikkei 225 gained 0.9% in Friday morning trading to 52,938.62. South Korea’s Kospi jumped 2.1% to 5,344.41. The Shanghai Composite sank 0.5% to 3,899.57. Trading was closed in Hong Kong, Singapore, Australia, New Zealand, the Philippines, Indonesia and India.

Wall Street, where trading is closed Friday, finished its first winning week since the start of the Iran war, although trading started out with a decline driven by a surge in oil prices.

That came after US President Donald Trump late Wednesday vowed the US will continue to attack Iran and failed to offer a clear timetable for ending the conflict in the Middle East.

The S&P 500 rose 7.37 points, or 0.1%, to 6,582.69. Several days of solid gains this week helped the benchmark index notch a 3.4% gain for the week. The Dow Jones Industrial Average fell 61.07 points, or 0.1%, to 46,504.67. The Nasdaq composite rose 38.23 points, or 0.2%, to 21,879.18. Both indexes also notched weekly gains.

Treasury yields remained relatively steady in the bond market. The yield on the 10-year Treasury fell to to 4.30% from 4.32%.

In currency trading, the US dollar edged up to 159.66 Japanese yen from 159.53 yen. The euro cost $1.1535, inching down from $1.1537.

Business

Saudi Arabia Boosts Firms’ Readiness for Supply Chain Challenges

Container ship at King Abdullah Port (SPA)
Container ship at King Abdullah Port (SPA)
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Saudi Arabia Boosts Firms’ Readiness for Supply Chain Challenges

Container ship at King Abdullah Port (SPA)
Container ship at King Abdullah Port (SPA)

Amid mounting geopolitical tensions threatening global supply chains, particularly disruptions in the Strait of Hormuz, Saudi Arabia is stepping up efforts to shield its economy by strengthening private sector readiness to withstand external shocks.

Asharq Al-Awsat has learned that the Federation of Saudi Chambers is moving to boost companies’ preparedness, unify procedures, and keep business flowing smoothly amid rising logistical risks.

The push underscores authorities’ focus on safeguarding the domestic market by helping businesses adapt quickly and strengthen operational resilience, supporting economic stability and sustained growth.

Future decisions

As part of efforts to bolster supply chain resilience, the Federation of Saudi Chambers is mapping challenges facing companies and national institutions, aiming to present the sector’s voice directly, build a clear picture of on-the-ground obstacles, and help shape future decisions.

It is tracking operational and logistical hurdles and turning them into inputs for relevant authorities to improve regulations and support market-based decision-making.

Improving the regulatory environment

The federation has asked companies to pinpoint challenges across ports, airports, logistics hubs, and warehouses, as well as those tied to regulators.

It urged firms to specify issues such as clearance or transit delays, procedural disruptions, added costs, lack of information, conflicting instructions, and regulatory requirements, along with their impact, whether financial or operational, including delivery delays, lost clients, suspended contracts, damaged cargo, and supply chain breakdowns.

The findings are expected to feed into regulatory improvements and more informed policymaking.

Alternative routes

Saudi Arabia has rolled out proactive logistics measures to reduce reliance on the Strait of Hormuz, including new corridors linking Gulf ports through alternative land and sea routes, Red Sea options, and additional shipping services to expand port capacity.

The Transport General Authority said licensed operators will be allowed to carry goods for third parties until Sept. 25, aiming to boost fleet efficiency and flexibility.

The authority said the step will help companies make better use of capacity, support supply chain continuity, and improve cargo movement within the kingdom and to neighboring countries.

On Thursday, it also approved regulatory updates extending deadlines for land freight firms to adjust their status, aiming to raise efficiency and compliance.

The extension covers heavy and light transport activities until Aug. 27, 2026, giving companies more time to meet regulatory requirements.

It also includes cases involving the reclassification of vehicle registration from private to public use in heavy freight, in a move to better regulate the sector and improve fleet utilization.