Saudi Arabia Hosts 9th Conference of Environment Ministers in the Islamic World

Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)
Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)
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Saudi Arabia Hosts 9th Conference of Environment Ministers in the Islamic World

Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)
Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)

The 9th Conference of Environment Ministers in the Islamic World has been held in Jeddah under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz.

The conference organized by the Ministry of Environment, Water and Agriculture and the Islamic World Educational, Scientific and Cultural Organization (ICESCO) was held between Oct. 18 and 19.

In his opening speech, Saudi Minister of Environment Abdulrahman al-Fadley welcomed environment ministers from 52 countries and delegates from 30 regional and international organizations dedicated to environmental matters.

He stressed that cooperation and collaboration between the Islamic nations play a critical role in environment protection, sustainability, and tackling global environmental challenges.

The Minister expressed the solidarity of Saudi Arabia with the Palestinian people and requested the international community to take a responsible stance and emphasized the necessity of adhering to the provisions of international and humanitarian laws.

Furthermore, he expressed solidarity of Saudi Arabia with Morocco and Libya while facing the aftermath of recent natural disasters in their countries.

“Preserving the environment is one of the pillars of Saudi Vision 2030, as it adopted the National Environment Strategy, established the fund and five environmental centers, as well as launched initiatives such as the Saudi Green Initiative and regionally Middle East Green Initiative.”

He indicated the Green Initiatives aim to develop vegetation cover, raise conservations to 30 percent, and adopt the carbon circular economy approach to reach zero neutrality in 2060.

The Middle East Green Initiatives aim to strengthen regional cooperation to combat desertification and preserve vegetation and its biodiversity. It also seeks to achieve food security, adapt to climate change, and improve the quality of life.

Saudi Arabia cooperated with many countries and international organizations to launch the Reducing Land Degradation and Enhancing Conservation of Terrestrial Habitats Platform, announced Fadley.

The platform aims to accelerate research and development to preserve coral reefs and reduce land degradation and loss of wild habitats, which was launched by G20 leaders during the Kingdom’s presidency of the group’s meetings in 2020.

Last month, Crown Prince Mohammed bin Salman announced the establishment of the Global Water Organization, headquartered in Riyadh.

Next year, Saudi Arabia will host the Conference of the Parties to the United Nations Convention to Combat Desertification (COP16) and World Environment Day 2024.

Fadley congratulated the recipients of the Kingdom Award for Environmental Management in the Islamic World during its third session.

Also at the ceremony, Secretary-General of the Organization of Islamic Cooperation (OIC) Hussein Taha asserted the importance of environmental security and its comprehensive impact.

He indicated that this requires urgent and coordinated action from all countries, especially since the Islamic world is one of the regions of the world most affected by global climate change.

Taha asserted that the concerns of Islamic nations must be heard at various international and global forums concerned with environmental issues.

He lauded the efforts at the 9th Conference of Environment Ministers in the Islamic World, indicated that its results will be a very important towards preparing the Islamic community for the upcoming COP28 conference in the UAE.

In turn, Director-General of the ICESCO Salim al-Malik mentioned environmental challenges facing the Islamic world, including issues of global warming, the surge in greenhouse gas emissions, rising global temperatures, loss of biodiversity, and plastic pollution.

He further noted that the scale of these challenges places a significant responsibility on the Islamic world.

Malik addressed the food waste issue, indicating that it amounts to 1.3 billion tons annually, enough to feed three billion people.

Climate crisis is the result of mismanagement, which requires decision-makers to work diligently to find radical solutions, increase the capital of the green economy, support its innovations, and make the best use of the digital and information revolution, said Malik.



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.