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.



Riyadh Air Launches ‘Employment First’ Overseas Aviation Training Scholarship Program

Riyadh Air Launches ‘Employment First’ Overseas Aviation Training Scholarship Program
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Riyadh Air Launches ‘Employment First’ Overseas Aviation Training Scholarship Program

Riyadh Air Launches ‘Employment First’ Overseas Aviation Training Scholarship Program

Riyadh Air has announced its ‘Employment-First’ Overseas Scholarship Program, which aims to launch several scholarship tracks, starting with two specialized paths for engineers in Australia, followed by a pilot training program in the United States.

The initiative falls under ‘Promising Path’, one of the tracks within the Custodian of the Two Holy Mosques Scholarship Program, in collaboration with the Ministry of Education, the Ministry of Transport and Logistic Services, and the General Authority of Civil Aviation (GACA).

This strategic step aims to build national competencies and train a new generation of specialists in the aviation sector, SPA reported.

According to a recent press release from Riyadh Air, the program will introduce several global training pathways, with the initial phase focusing on sending scholarship students to Australia to study towards Bachelor’s degrees in Aircraft Maintenance Engineering, covering both Mechanical Engineering and Avionics (Electronics). Next month, Riyadh Air will launch a Commercial Aviation training program in the United States.

In line with Riyadh Air’s commitment to supporting students' career progression, participants will be employed before commencing their scholarships. This ensures that their years of experience are registered with the General Organization for Social Insurance, enhancing their professional readiness from day one.

The program's launch is part of Riyadh Air’s continuous efforts to empower national talent and provide the Kingdom’s young and vibrant workforce with essential skills and knowledge, representing an even greater long-term investment in the future of the Kingdom's aviation industry.

Vice President of Talent Acquisition and Business Partners at Riyadh Air Nahar Aljahani stated: "The 'Employment-First' Scholarship Program is a part of our commitment to developing national human capital and enabling Saudi youth - both men and women - to access world-class education.

Its impact will reflect positively on the development of the aviation sector in the Kingdom, contributing to the company's goal of creating over 200,000 direct and indirect jobs."

With these programs, Riyadh Air continues to play a part in building a promising future for Saudi citizens and enhancing the competitiveness of our graduates in the global aviation industry.


Japan PM Reassures Markets with Fiscal Discipline in Next Year’s Budget

Japan's Prime Minister Sanae Takaichi delivers a speech at the 14th Council Meeting of the Japan Business Federation, or Keidanren, in Tokyo on December 25, 2025. (AFP)
Japan's Prime Minister Sanae Takaichi delivers a speech at the 14th Council Meeting of the Japan Business Federation, or Keidanren, in Tokyo on December 25, 2025. (AFP)
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Japan PM Reassures Markets with Fiscal Discipline in Next Year’s Budget

Japan's Prime Minister Sanae Takaichi delivers a speech at the 14th Council Meeting of the Japan Business Federation, or Keidanren, in Tokyo on December 25, 2025. (AFP)
Japan's Prime Minister Sanae Takaichi delivers a speech at the 14th Council Meeting of the Japan Business Federation, or Keidanren, in Tokyo on December 25, 2025. (AFP)

Japanese Prime Minister Sanae Takaichi sought on Thursday to ease market concerns over her expansionary fiscal policy, saying the government's draft budget maintains discipline by limiting reliance on debt.

There has been growing investor unease about fiscal expansion under Takaichi's administration, which has driven super-long government bond yields to record highs and weighed on the yen.

The budget for the year starting in April, to be finalized on Friday and submitted to parliament early in 2026, ‌will total 122.3 trillion ‌yen ($785.4 billion), Takaichi told ruling coalition executives.

The huge ‌spending ⁠will come ‌on top of a 21.3 trillion-yen stimulus package, compiled in November and funded by a supplementary budget for the current fiscal year, that focused on cushioning the blow to households from rising living costs.

Despite the record size, new government bond issuance for the next fiscal year will be capped at 29.6 trillion yen, staying below 30 trillion yen for a second straight year, ⁠she said.

The reliance on debt will fall to 24.2% from 24.9% in the initial fiscal 2025 ‌budget, which dipped below 30% for the ‍first time in 27 years, she said. ‍The 24.2% debt dependence ratio would be the lowest since 1998.

"We ‍believe this draft budget strikes a balance between fiscal discipline and achieving a strong economy while ensuring fiscal sustainability," Takaichi said.

In a separate speech at Japanese business lobby Keidanren, Takaichi said that her "responsible, proactive" fiscal policy means strategic spending with a long-term perspective.

"It does not mean expanding expenditures indiscriminately based solely on scale," she said.

In a report to clients, Yusuke Matsuo, ⁠Mizuho Securities' senior market economist, said Takaichi would still need to promote proactive fiscal spending to avoid alienating her political base. He added that financial markets could be reassured if the government sticks to a less aggressive stance on spending.

Signaling a shift in the government's reflationary policy push, private-sector members of a government panel on Thursday called on the government to clearly show the public how the debt-to-gross domestic product ratio can be steadily reduced under Takaichi's government.

The four private-sector members include former Bank of Japan Deputy Governor Masazumi Wakatabe and economist Toshihiro Nagahama - known as reflationist aides of Takaichi.

Their proposals were discussed at ‌the Council on Economic and Fiscal Policy (CEFP), which oversees Japan's fiscal blueprint and long-term economic policies.


Asian Shares are Mixed after US Stocks Drift to More Records

Currency dealers monitor exchange rates as a screen (R) shows South Korea's benchmark stock index in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on November 5, 2025. (Photo by Jung Yeon-je / AFP)
Currency dealers monitor exchange rates as a screen (R) shows South Korea's benchmark stock index in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on November 5, 2025. (Photo by Jung Yeon-je / AFP)
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Asian Shares are Mixed after US Stocks Drift to More Records

Currency dealers monitor exchange rates as a screen (R) shows South Korea's benchmark stock index in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on November 5, 2025. (Photo by Jung Yeon-je / AFP)
Currency dealers monitor exchange rates as a screen (R) shows South Korea's benchmark stock index in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on November 5, 2025. (Photo by Jung Yeon-je / AFP)

Asian shares were mixed Thursday in thin holiday trading, with most markets in the region and elsewhere closed for Christmas.

In Tokyo, the Nikkei 225 edged 0.1% higher to 50,407.79. It has gained nearly 30% this year.

The dollar slipped to 155.85 Japanese yen from 155.94 yen. The euro climbed to $1.1786 from $1.1780.

Markets in mainland China advanced, with the Shanghai Composite index up 0.5% at 3,959.62. Hong Kong's exchange was closed, The Associated Press said.

Investors were encouraged by a statement by the People’s Bank of China, China’s central bank, promising to ensure adequate money supply to support financing, economic growth and inflation targets. Earlier in the week, the PBOC had opted to keep its key short-term lending rates unchanged.

Shares fell in Thailand and Indonesia.

On Wednesday, the S&P 500 index rose 0.3% to 6,932.05 and the Dow Jones Industrial Average added 0.6% to close at 48,731.16. The Nasdaq composite added 0.2% to 23,613.31

Trading was extremely light as markets closed early for Christmas Eve and will be closed for Christmas on Thursday. US markets will reopen for a full day of trading on Friday, though volumes will likely remain light this week with most investors having closed out their positions for the year.

The S&P 500 is up more than 17% this year, as investors have embraced the deregulatory policies of the Trump administration and been optimistic about the future of artificial intelligence in helping boost profits for not only technology companies but also for Corporate America.

Much of the focus for investors for the next few weeks will be on where the US economy is heading and where the Federal Reserve will move interest rates. Investors are betting the Fed will hold steady on interest rates at its January meeting.

The US economy grew at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, driven by consumers who continue to spend despite strong inflation. There have also been recent reports showing shaky confidence among consumers worried about high prices. The labor market has been slowing and retail sales have weakened.

The number of Americans applying for unemployment benefits fell last week and remain at historically healthy levels despite some signs that the labor market is weakening.

US applications for jobless claims for the week ending Dec. 20 fell by 10,000 to 214,000 from the previous week’s 224,000, the Labor Department reported Wednesday. That’s below the 232,000 new applications forecast of analysts surveyed by the data firm FactSet.

Dynavax Technologies soared 38.2% after Sanofi said it was acquiring the California-based vaccine maker in a deal worth $2.2 billion. The French drugmaker will add Dynavax’s hepatitis B vaccines to its portfolio, as well as a shingles vaccine that is still in development.

Novo Nordisk's shares rose 1.8% after the weight-loss drug company got approval from US regulators for a pill version of its blockbuster drug Wegovy. However, Novo Nordisk shares are still down almost 40% this year as the company has faced increased competition for weight-loss medications, particularly from Eli Lilly. Shares of Eli Lilly are up 40% this year.

US crude oil closed at $58.35 a barrel and Brent crude finished at $61.80 a barrel.