Saudi Roadmap to Build World’s Largest Park

King Salman Park in the center of the Saudi capital (Asharq Al-Awsat)
King Salman Park in the center of the Saudi capital (Asharq Al-Awsat)
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Saudi Roadmap to Build World’s Largest Park

King Salman Park in the center of the Saudi capital (Asharq Al-Awsat)
King Salman Park in the center of the Saudi capital (Asharq Al-Awsat)

At a time when Riyadh’s green strategy is in full swing, an official source at the King Salman Park Foundation confirmed that efforts are underway to transform the proposed large-scale public park and urban district in Riyadh into a tangible reality.

Director of Public Relations and Marketing at the King Salman Park Foundation Faisal Al-Majed revealed that a road map for operational work is currently being carried out.

According to Al-Majed, the Foundation’s participation at Riyadh’s International Exhibition and Forum on Afforestation Technologies, which was held from May 29-31, confirms its commitment to planting one million trees.

Al-Majed noted that the Forum had advanced efforts on exchanging research and expertise and contributed to launching a scientific study that can map out the implementation of the park project.

Speaking to Asharq Al-Awsat, Al-Majed confirmed that the Foundation will work to re-engineer the park’s soil to prepare it for planting.

Soil re-engineering includes adding more than one layer of soil and microorganisms.

Moreover, it also incorporates increasing the level of nitrogen to increase fertility.

The Green Riyadh project alone will see 7.5 million trees planted across the capital, and will contribute to an increase in per capita green space.

Al-Majed noted that gains from such projects include boosting biodiversity, whether in birds, insects, or the green environment of the city of Riyadh.

He also pointed out that King Salman Park Foundation is one of the four major projects launched by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz in March 2019.

King Salman Park is built on more than 16km2 to become the largest urban park in the world offering a wide range of options and quality activities for the city's residents and visitors.

The Park will contribute significantly to increasing the vegetation in the region and raising the rate of per capita green spaces, which will have a direct and positive impact on the quality of the environment and the climate.



Iraq Raises Oil Export Capacity to More Than 3 Million Barrels Per Day

FILE PHOTO: The Zubair Oil Field in Basra, Iraq, April 6, 2026. REUTERS/Mohammed Aty/File Photo
FILE PHOTO: The Zubair Oil Field in Basra, Iraq, April 6, 2026. REUTERS/Mohammed Aty/File Photo
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Iraq Raises Oil Export Capacity to More Than 3 Million Barrels Per Day

FILE PHOTO: The Zubair Oil Field in Basra, Iraq, April 6, 2026. REUTERS/Mohammed Aty/File Photo
FILE PHOTO: The Zubair Oil Field in Basra, Iraq, April 6, 2026. REUTERS/Mohammed Aty/File Photo

Iraq has raised its oil export capacity to more than 3 million barrels per day, Iraq's oil minister said, according to state media on Saturday.

Iraq has been able to export 3 ⁠million bpd since ⁠the beginning of September, state media said.

Oil Minister Basim Mohammed said the government plans to increase capacity ⁠to 5 million bpd after the completion of strategic pipelines and export outlets through the Strait of Hormuz, according to state media.

Iraq's oil exports rose to around 2.34 million bpd in August, according ⁠to ⁠officials.

Industry sources and shipping data had indicated that September shipments were set to climb, as big profits and Iranian approval for its tankers to pass through the Strait of Hormuz have encouraged buyers.


China to Pump $47 Bln Into State Banks, Insurers in Capital-boosting Push

Construction cranes rise above a newly built residential district before sunrise, in Beijing, China, September 3, 2026. REUTERS/Maxim Shemetov
Construction cranes rise above a newly built residential district before sunrise, in Beijing, China, September 3, 2026. REUTERS/Maxim Shemetov
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China to Pump $47 Bln Into State Banks, Insurers in Capital-boosting Push

Construction cranes rise above a newly built residential district before sunrise, in Beijing, China, September 3, 2026. REUTERS/Maxim Shemetov
Construction cranes rise above a newly built residential district before sunrise, in Beijing, China, September 3, 2026. REUTERS/Maxim Shemetov

China's finance ministry will inject 57 billion yuan ($8 billion) into three state-owned insurers, the companies said on Sunday, in a coordinated push by Beijing to shore up capital across its financial system.

China Life Insurance (Group) Co, the country's largest life insurer, will receive 35 billion yuan, while China Taiping Insurance Group will get 7 billion yuan, the two groups said in statements, according to Reuters.

People's ⁠Insurance Company (Group) of China ⁠said it planned to raise up to 15 billion yuan through a private placement of A-shares to the Ministry of Finance, with the proceeds to be used to replenish its capital.

"The injection is an important ⁠step by the country to enhance the financial sector's ability to serve the real economy and promote the high-quality development of the financial and insurance industries," China Life said in its statement, adding that it would strengthen the group's ability to withstand risks.

Taiping said the funds would bolster its solvency and other key indicators.

Separately, Agricultural Bank of China and Industrial and ⁠Commercial ⁠Bank of China said they planned to raise up to 160 billion yuan and 100 billion yuan respectively through private A-share placements to the finance ministry, China National Tobacco Corp and its subsidiaries.

Both lenders said the proceeds would be used entirely to replenish core tier 1 capital, in a move to help sustain credit expansion as Beijing leans on state banks to support growth.


Türkiye Sees GDP Growth at 5% in 2029 in Medium-term Program

People shop at an open market in Istanbul, Türkiye, December 5, 2022. REUTERS/Dilara Senkaya/File Photo
People shop at an open market in Istanbul, Türkiye, December 5, 2022. REUTERS/Dilara Senkaya/File Photo
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Türkiye Sees GDP Growth at 5% in 2029 in Medium-term Program

People shop at an open market in Istanbul, Türkiye, December 5, 2022. REUTERS/Dilara Senkaya/File Photo
People shop at an open market in Istanbul, Türkiye, December 5, 2022. REUTERS/Dilara Senkaya/File Photo

Türkiye's government projects gross domestic product growth accelerating to 5% by 2029, up from 3.3% forecast for this year, Vice President Cevdet Yilmaz said on Sunday while presenting ⁠the country's medium-term economic ⁠program.

Here are some details:

Inflation is forecast at 21% in 2027 and 13.5% in ⁠2028 before reaching 9% in 2029.

GDP growth seen at 4.2% in 2027, 4.6% in 2028 and 5% in 2029.

Budget deficit-to-GDP ratio projected at 3.5% in ⁠2027, falling ⁠to 3.1% in 2028, and 2.8% in 2029.

Unemployment seen at 8.1% in 2026, easing gradually to 7.6% by 2029.