Saudi Arabia to Host World Expo in 2030, Crown Prince Hails Win as Culmination of Saudi Vision Goals

Saudi Foreign Minister Prince Faisal bin Farhan, accompanied by the Secretary-General of the Bureau International des Expositions (BIE) following Riyadh’s victory in securing hosting rights to Expo 2030 (Asharq Al-Awsat)
Saudi Foreign Minister Prince Faisal bin Farhan, accompanied by the Secretary-General of the Bureau International des Expositions (BIE) following Riyadh’s victory in securing hosting rights to Expo 2030 (Asharq Al-Awsat)
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Saudi Arabia to Host World Expo in 2030, Crown Prince Hails Win as Culmination of Saudi Vision Goals

Saudi Foreign Minister Prince Faisal bin Farhan, accompanied by the Secretary-General of the Bureau International des Expositions (BIE) following Riyadh’s victory in securing hosting rights to Expo 2030 (Asharq Al-Awsat)
Saudi Foreign Minister Prince Faisal bin Farhan, accompanied by the Secretary-General of the Bureau International des Expositions (BIE) following Riyadh’s victory in securing hosting rights to Expo 2030 (Asharq Al-Awsat)

Saudi Arabia secured a decisive victory in the bid to host the Expo 2030 World Fair, as announced by the Bureau International des Expositions (BIE) in Paris on Tuesday.
The confirmation came after Riyadh overwhelmingly garnered 119 votes in the initial round, marking a landslide triumph.
Following this announcement, Saudi Crown Prince Mohammed bin Salman declared that the Kingdom is set to deliver an “unprecedented edition in the history of hosting Expos,” emphasizing that “Riyadh's win in hosting Expo solidifies its leading role.”
Riyadh outperformed the Italian capital, Rome, and the South Korean city of Busan by a wide margin during the initial round of voting.
BIE announced that the kingdom would be hosting the exhibition after a secret ballot was cast during the 173rd General Assembly of BIE in Paris.
Crown Prince Mohammed bin Salman extended his congratulations to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud to mark the landmark occasion.
“The kingdom’s selection as the host of the World Expo 2030 underlines its influential and leading role and the international confidence it enjoys. Saudi Arabia has become an ideal destination for hosting major international events, including the esteemed World Expo,” said the Crown Prince.
“The World Expo 2030 coincides with a crucial year for the realization of the goals and plans outlined in Saudi Vision 2030.”
“This Expo represents a remarkable opportunity to share with the world the lessons learned from our unprecedented journey of transformation,” he added.
The Crown Prince stressed Riyadh’s readiness to welcome the world at Expo 2030, and the fact that it will fulfill the obligations stipulated in the bid with the aim of achieving the main theme of the expo, “The Era of Change: Together for a Foresighted Tomorrow”, and its subtopics: “A Different Tomorrow”, “Climate Action”, and “Prosperity for All.”
The Kingdom's bid to host the Expo received strong and direct support from the Crown Prince, starting with the Kingdom’s official application to the BIE on October 29, 2021.
The Long Parisian Day: Unraveling the Details
Saudi Foreign Minister Prince Faisal bin Farhan’s confidence in Riyadh’s bid to host Expo 2030 was not misplaced. In his presentation of Riyadh’s file before the BIE, Prince Faisal asserted that the Kingdom would emerge victorious in the competition against Italy and South Korea.
The top diplomat had affirmed that 130 countries expressed confidence in Riyadh’s proposal, and its capability to host the exposition.
According to BIE’s secretary-general, it is rare for a candidate country to secure victory from the first round, a feat achieved by Saudi Arabia with two-thirds of the votes from the outset.
During Tuesday’s session, the Saudi delegation was the last to address the General Assembly, following the diverse presentation from the South Korean and Italian delegations.
The Saudi Presentation
The Saudi delegation, led by Prince Faisal, delivered a cohesive presentation under the theme “From the World, To the World.”
They emphasized Saudi Arabia’s commitment to establishing the largest network of cooperation with nations worldwide.
Notably, Riyadh expressed its intent to allocate $384 million to assist 100 nations in need, enabling their participation in “Expo Riyadh 2030” under the banner of “One World, One Pavilion.”
Prince Faisal underscored the Kingdom’s focus on developmental goals, accelerating progress on all fronts, and addressing global challenges, including climate change, sustainable development, and international cooperation.
Speaking as he led the Saudi delegation at the general assembly on Tuesday, Prince Faisal stated, "The Kingdom is committed to collaborating with all stakeholders to deliver a distinctive edition of Expo 2030."
Princess Haifa Al-Mogrin, Saudi Arabia's representative to UNESCO, stated that the Kingdom will collaborate with all nations every step of the way until 2030.
She highlighted the focus on providing opportunities for education, health, environment, and prosperity for all.
Expo Hosting Journey
Among the five cities that initially submitted bids to host Expo 2030, two dropped out of the race early: Moscow and the Ukrainian city of Odessa, overlooking the Black Sea.
Moscow withdrew its bid due to the Russian invasion of Ukraine, and Odessa was not considered by the BIE as it did not meet the necessary conditions for organizing such a significant event.
This left Riyadh, Rome, and Busan as the remaining contenders, each presenting ambitious plans to host the prestigious expo, considered the global event in the exhibition field.
After a series of successive stages in the bidding process, the decisive moment arrived on Nov.28 with the electronic voting by the 180 member countries.
The BIE provided the final opportunity for the three competing parties to present their arguments and focus on key points they deemed “winning.”
The BIE director emphasized the need for strict adherence to the allocated time, not exceeding 20 minutes per presentation.
After Riyadh’s bid won the right to host the Expo 2030 world fair, Prince Faisal affirmed that Saudi Arabia’s victory “signifies the Kingdom's status and the international community's confidence in it.”
Prince Faisal emphasized that Saudi Arabia would present a “new type” of Expo in 2030, changing the dynamics of international exhibitions.
He expressed pride in the Kingdom’s exceptional success and thanked the nations that voted in Riyadh’s favor, acknowledging the presentations by South Korea and Italy.
Once again, he underscored that the expo is “not just for Saudi Arabia but for the entire world,” with Riyadh planning to involve all nations in its conception, planning, and execution.



Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
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Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)

Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war.

The new authorities in Damascus have worked to attract investment and have signed major agreements with several companies and governments.

Syrian Investment Authority chief Talal al-Hilali announced a series of deals including "a low-cost Syrian-Saudi airline aimed at strengthening regional and international air links".

The agreement also includes the development of a new international airport in the northern city of Aleppo, and redeveloping the existing facility.

Hilali also announced an agreement for a project called SilkLink to develop Syria's "telecommunications infrastructure and digital connectivity".

Syrian Telecommunications Minister Abdulsalam Haykal told the signing ceremony that the project would be implemented "with an investment of around $1 billion".

For decades, Syria was unable to secure significant investments because of Assad-era sanctions.

But the United States fully removed its remaining sanctions on Damascus late last year, paving the way for the full return of investments.

Syria and Saudi Arabia also inked an agreement on water desalination and development cooperation on Saturday.

At the ceremony, Saudi Investment Minister Khalid Al-Falih announced the launch of an investment fund for "major projects in Syria with the participation of the (Saudi) private sector".

The deals are part of "building a strategic partnership" between the two countries, he said.

Syria's Hilali said the agreements targeted "vital sectors that impact people's lives and form essential pillars for rebuilding the Syrian economy".

Syria has begun the mammoth task of trying to rebuild its shattered infrastructure and economy.

In July last year, Riyadh signed investment and partnership deals with Damascus valued at $6.4 billion to help rebuild the country's infrastructure, telecommunications and other major sectors.

A month later, Syria signed agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects.

This week, Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International to explore for oil and gas offshore.


India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
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India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)

Indian Prime Minister Narendra Modi on Saturday hailed an interim trade agreement with the United States, saying it would bolster global growth and deepen economic ties between the two countries.

The pact cuts US "reciprocal" duties on Indian products to 18 percent from 25 percent, and commits India to large purchases of US energy and industrial goods.

US President Donald Trump, while announcing the deal Tuesday, had said Modi promised to stop buying Russian oil over the war in Ukraine.

The deal eases months of tensions over India's oil purchases -- which Washington says fund a conflict it is trying to end -- and restores the close ties between Trump and the man he describes as "one of my greatest friends."

"Great news for India and USA!" Modi said on X on Saturday, praising US President Donald Trump's "personal commitment" to strengthening bilateral ties.

The agreement, he said, reflected "the growing depth, trust and dynamism" of their partnership.

Modi's remarks came hours after Trump issued an executive order scrapping an additional 25 percent levy imposed over New Delhi's purchases of Russian oil, in a step to implement the trade deal announced this week.

Modi, who has faced criticism at home about opening access of Indian agricultural markets to the United States and terms on oil imports, did not mention Russian oil in his statement.

"This framework will also strengthen resilient and trusted supply chains and contribute to global growth," he said.

It would also create fresh opportunities for Indian farmers, entrepreneurs and fishermen under the "Make in India" initiative.

In a separate statement, Commerce Minister Piyush Goyal said the pact would "open a $30 trillion market for Indian exporters".

Goyal also said the deal protects India's sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry and milk.

Other terms of the agreement include the removal of tariffs on certain aircraft and parts, according to a separate joint statement released Friday by the White House.

The statement added that India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years.

The shift marks a significant reduction in US tariffs on Indian products, down from a rate of 50 percent late last year.

Washington and New Delhi are expected to sign a formal trade deal in March.


Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
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Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.