Saudi Arabia to Organize Int'l Forum on Afforestation Techniques

Saudi Arabia will host the International Exhibition and Forum on Afforestation Technologies from May 29-31. (Asharq Al-Awsat)
Saudi Arabia will host the International Exhibition and Forum on Afforestation Technologies from May 29-31. (Asharq Al-Awsat)
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Saudi Arabia to Organize Int'l Forum on Afforestation Techniques

Saudi Arabia will host the International Exhibition and Forum on Afforestation Technologies from May 29-31. (Asharq Al-Awsat)
Saudi Arabia will host the International Exhibition and Forum on Afforestation Technologies from May 29-31. (Asharq Al-Awsat)

Saudi Arabia will host the International Exhibition and Forum on Afforestation Technologies in Riyadh from May 29-31, under the patronage of Crown Prince Mohammad bin Salman bin Abdulaziz.

The Forum is organized by the National Center for Vegetation Development and Combating Desertification (NCVC) in coordination and cooperation with the Ministry of Environment. It will be held at the Riyadh International Convention and Exhibition Center.

The Forum seeks to develop, protect, and sustain the vegetation cover according to Vision 2030.

Minister of Environment, Water, and Agriculture and Chairman of the Board of Directors of NCVC Abdulrahman al-Fadhli extended his appreciation to the Crown Prince for patronizing the event.

The Minister stressed that organizing this event is important to Saudi Arabia for its intensified efforts and increasing attention to the vegetation cover.

He noted that it is also the central pillar of the National Environment Strategy that represents a roadmap to realize the goals of Vision 2030 in protecting and developing the environment.

The forum confirms the Kingdom’s international pioneering role in the environmental field and its announcements of global ecological initiatives that seek to establish vegetation cover.

NCVC CEO Khaled Al-Abdulkader explained that the exhibition and Forum include several comprehensive and integral aspects of forestry and technologies for combating desertification.

These include afforestation, combating desertification, irrigation techniques, water sources and technologies, nurseries, environmental waste recycling, soils, environmental monitoring and protection, development and investment of forests and parks, and plant pest control.

He added that the exhibition seeks to provide a platform to encourage government and semi-government institutions, non-profit commissions, companies, and organizations to become targeted stakeholders to combat desertification and increase vegetation cover area.

It will welcome local and international companies to display the latest technology and innovation in combating desertification, mitigating its effects, and developing and protecting vegetation.

It will also build bridges of communication between experts, significant investors, company heads, decision-makers, technical solution providers and academics, researchers specializing in the environment sector, and climate experts.

The expo welcomes experts in climate and participants getting acquainted with models for success worldwide to benefit from them and attract international expertise suitable for the environment.

The International Exhibition and Forum on Afforestation Technologies aims to achieve a set of investment objectives, including highlighting investment opportunities in the environmental sector.

It also seeks to conclude several agreements and memoranda of understanding and launch local and research partnerships with local, regional, and international universities with research centers.



Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks
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Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

The Saudi Ports Authority (Mawani) signed a contract with Arabian Chemical Terminals Ltd. to establish storage tanks for chemical and petrochemical materials at Jubail Commercial Port, with an investment exceeding SAR500 million on an area of 49,000 square meters.

The project will contribute to enhancing operational efficiency and increasing handling capacity in line with the objectives of the National Transport and Logistics Strategy to consolidate the Kingdom’s position as a global logistics hub, SPA reported.

This step is part of Mawani’s efforts to strengthen the role of the private sector in supporting the gross domestic product and to reinforce the position of Jubail Commercial Port as a driver of commercial activity. The project’s storage capacity will reach 70,000 cubic tons, boosting the competitiveness of the Kingdom’s ports at both regional and international levels.

The project aims to develop and expand storage capacity and the export of chemical and petrochemical materials in accordance with the highest international standards while supporting supply chains. It includes the establishment and development of specialized facilities for storing and exporting chemical and petrochemical products, as well as the provision of storage and distribution services for local and international import and export of chemicals in line with global quality and safety standards.

The project will contribute to supporting national supply chains, boosting the Kingdom’s chemical logistics capabilities, and raising operational efficiency and capacity, thereby improving customer competitiveness. It also supports the achievement of Saudi Vision 2030 objectives by promoting the development of infrastructure to advance the energy, industry, and supply chain sectors in the Kingdom.


Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
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Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel

Oil prices were little changed on Tuesday as investors took stock of ​dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen, Reuters reported.

Brent crude futures for February delivery, which expire on Tuesday, were up 15 cents at $62.09 a barrel as of 0918 GMT. The more active March contract was at $61.61, up 12 cents.

US West Texas Intermediate ‌crude gained 14 ‌cents to $58.22.

The Brent and ‌WTI ⁠benchmarks ​settled ‌more than 2% higher in the previous session as Saudi Arabia launched airstrikes against Yemen and after Moscow accused Kyiv of targeting Putin's residence, denting hopes of a peace deal.

Kyiv dismissed Moscow's accusation as baseless and designed to undermine peace negotiations. After a phone call ⁠with Putin, US President Donald Trump said he was angered by details ‌of the alleged attack.

"I think the ‍markets are sensing that ‍a deal is going to be very hard ‍to come by," said Marex analyst Ed Meir.

Traders also watched other Middle East developments after Trump said the United States could support another major strike on Iran were Tehran to resume rebuilding its ballistic missile or nuclear weapons programs.

Despite renewed fears of potential supply disruptions, perceptions of an oversupplied global market remain and could cap prices, analysts say.

Marex's Meir said prices would trend downwards in the first quarter of 2026 due to ‌a "growing oil glut".


Meta Buys China-founded AI Agent Manus

FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
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Meta Buys China-founded AI Agent Manus

FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo

Facebook owner Meta has agreed to acquire Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore, the two firms said.

However, analysts warned the deal could fall foul of regulators at a time of fierce technological rivalry between Washington and Beijing.

Exceeding the capabilities of AI chatbots like ChatGPT, AI agents can autonomously perform complex tasks for users, and are seen as having huge potential.

Manus, created by startup Butterfly Effect, can for example sift through and summarize resumes or create a stock analysis website, according to its website.

Meta said Monday that the deal -- the financial details of which were not disclosed -- will "bring a leading agent to billions of people and unlock opportunities for businesses across our products".

"The era of AI that doesn't just talk, but acts, creates, and delivers, is only beginning," Manus chief executive Xiao Hong said on X.

"And now (with Meta), we get to build it at a scale we never could have imagined."

Meta CEO Mark Zuckerberg is making a huge push into AI, spending billions of dollars on acquisitions, hiring engineers and building data centers.

Bloomberg Intelligence analysts said the purchase is likely aimed at expanding Meta's AI agent task capabilities, and that it could be worth more than $2 billion.

However, "it could draw regulatory scrutiny given that Singapore-based Manus was founded in China", the analysts said.