Saudi Initiatives Contributing to Creating a Sustainable Future Through Space

Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
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Saudi Initiatives Contributing to Creating a Sustainable Future Through Space

Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)

Saudi Arabia has achieved 96% of the targets set by the “Connect 2030” program, established by the International Telecommunication Union. This program aims to attain the Sustainable Development Goals by leveraging communication and technological services.

 

According to a report released by Saudi Arabia’s Communications, Space and Technology Commission on Sunday, the Kingdom is making significant strides in contributing to a sustainable future through space initiatives.

Saudi Arabia has accomplished a 100% success rate in various domains under the “Connect 2030” program, notably in terms of inclusivity by bridging the digital divide and providing widespread access to broadband services.

Additionally, the Kingdom excelled in forming partnerships by enhancing collaboration between International Telecommunication Union members and all stakeholders to support strategic objectives.

Saudi Arabia also achieved a 100% growth rate by enabling and enhancing access to communication and technology, fostering the digital economy, society, and promoting innovation in communications and technology to support societal digital transformation.

In terms of sustainability, Saudi Arabia scored 80% in risk management, addressing challenges and emerging opportunities resulting from the rapid growth of communications and technology.

According to the report, there were 87 local digital products launched in the past year, with 11 companies accepted, including five international ones.

The Communications, Space and Technology Commission had declared that Saudi Arabia is the world’s first country to successfully test the fifth-generation technology using a high-altitude platform system.

During the past year, the Kingdom advanced the principles of sustainability, making strides in empowering women and promoting environmental initiatives and renewable energy.

The telecommunications, space, and technology sector played a significant role in numerous achievements, including launching initiatives to reduce electronic waste and carbon emissions, expanding communication services to bridge the digital divide and facilitate modern technologies, as well as building capacity and empowering women.

The representation of women in leadership positions in the telecommunications and technology sector reached 23.60%, and 41,000 women were empowered to seize new opportunities.



Lebanon's Bonds Rally as Parliament Elects 1st President since 2022

Lebanese Parliament Speaker Nabih Berri shakes hands with Lebanon’s army chief Joseph Aoun after he is elected as the country’s president at the parliament building in Beirut, Lebanon, Jan. 9, 2025. Reuters/Mohamed Azakir
Lebanese Parliament Speaker Nabih Berri shakes hands with Lebanon’s army chief Joseph Aoun after he is elected as the country’s president at the parliament building in Beirut, Lebanon, Jan. 9, 2025. Reuters/Mohamed Azakir
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Lebanon's Bonds Rally as Parliament Elects 1st President since 2022

Lebanese Parliament Speaker Nabih Berri shakes hands with Lebanon’s army chief Joseph Aoun after he is elected as the country’s president at the parliament building in Beirut, Lebanon, Jan. 9, 2025. Reuters/Mohamed Azakir
Lebanese Parliament Speaker Nabih Berri shakes hands with Lebanon’s army chief Joseph Aoun after he is elected as the country’s president at the parliament building in Beirut, Lebanon, Jan. 9, 2025. Reuters/Mohamed Azakir

Lebanese government bonds extended their three-month-long rally on Thursday as the crisis-ravaged country's parliament voted in a new head of state for the first time since 2022.

Lebanese lawmakers elected army chief Joseph Aoun as president. It came after the failure of 12 previous attempts to pick a president and boosts hopes that Lebanon might finally be able to start addressing its dire economic woes.

The country's battered bonds have almost trebled in value since September, when the regional conflict with Israel weakened Lebanese armed group Hezbollah, long viewed as an obstacle to overcoming its political paralysis.

According to Reuters, most of Lebanon's international bonds, which have been in default since 2020, rallied after Aoun's victory was announced to stand 1.3 to 1.7 cents higher on the day and at just over 16 cents on the dollar.

They have risen almost every day since late December, although they remain some of the lowest-priced government bonds in the world, reflecting the scale of Lebanon's difficulties.

With its economy and financial system still reeling from a collapse in 2019, Lebanon is in dire need of international support to rebuild from the conflict, which the World Bank estimates to have cost the country $8.5 billion.

Hasnain Malik, an analyst at financial research firm Tellimer said Aoun's victory was "the first necessary step on a very long road to recovery".

Malik said Aoun now needs to appoint a prime minister and assemble a cabinet that can retain the support of parliament, resuscitate long-delayed reforms and help Lebanon secure international financial support.

The 61-year old Aoun fell short of the required support in Thursday's first round of parliamentary voting and only succeeded in a second round, reportedly after a meeting with Hezbollah and Amal party MPs.

"That presents significant ongoing risk to any new PM and cabinet, which need to maintain the confidence of a majority of parliament," Malik said.