Saudi Arabia Leads Global Efforts Against Desertification at COP16

Saudi Arabia establishes principles for combating desertification and drought (SPA)
Saudi Arabia establishes principles for combating desertification and drought (SPA)
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Saudi Arabia Leads Global Efforts Against Desertification at COP16

Saudi Arabia establishes principles for combating desertification and drought (SPA)
Saudi Arabia establishes principles for combating desertification and drought (SPA)

Saudi Arabia is leading international efforts to address desertification and its negative impacts on economies, societies, and environments worldwide. This initiative comes as the Kingdom prepares to host the 16th Conference of the Parties to the United Nations Convention to Combat Desertification (COP16).

To support sustainable development goals, Saudi Arabia sent a high-level delegation to the 79th United Nations General Assembly, led by Foreign Minister Prince Faisal bin Farhan Al Saud.

This delegation launched a significant initiative involving the upcoming three COP conferences on climate change, biodiversity, and desertification.

The aim is to create comprehensive solutions that enhance the outcomes of these agreements, which have been working for 30 years to improve life on Earth and ensure the sustainability of natural resources.

Speaking to Asharq Al-Awsat, Dr. Osama Ibrahim Faqeeha, Deputy Minister of Environment, Water, and Agriculture in Saudi Arabia and advisor to COP16, emphasized that recent meetings are part of ongoing efforts that began when Saudi Arabia announced it would host one of the largest global environmental conferences.

This decision highlights the international community’s trust in the Kingdom’s leadership on these critical issues, according to Faqeeha.

The deputy minister also mentioned Saudi Arabia’s recent call to governments at the United Nations General Assembly, urging them to take decisive action at COP16 of the United Nations Convention to Combat Desertification, which will be held in Riyadh in early December.

Saudi Arabia’s Preparations for COP16

As COP16 approaches, Saudi Arabia is taking on a crucial role at both regional and international levels to host the conference.

Faqeeha noted that the Kingdom has launched the “Middle East Green Initiative,” a unique coalition designed to address climate change through regional cooperation.

This initiative aims to create a sustainable future by diversifying the economy, generating jobs, and attracting private sector investments.

It focuses on two main goals: increasing tree planting and reducing carbon emissions in the region.

Additionally, Saudi Arabia is establishing regional centers and programs to help achieve these objectives and promote investments in the circular carbon economy and reforestation efforts.

Faqeeha highlighted that Saudi Arabia’s efforts have earned global trust, making it the ideal host for COP16.

He pointed out that during its G20 presidency, the Kingdom launched an initiative, aiming to unify global efforts for innovative solutions in land restoration and drought resilience.

This initiative is vital for food and water security, especially as a quarter of the world's population faces drought conditions, with projections suggesting that three out of four people may experience water scarcity by 2050.

In terms of preparations for COP16, Faqeeha noted that the conference will showcase Saudi Arabia’s dedication to tackling climate change and finding effective solutions for land degradation.

The Kingdom has implemented proactive measures and revised environmental laws to reaffirm its commitment to international agreements.

“We have worked hard to bring together the world’s best minds and resources in Riyadh to pave the way for a sustainable future,” Faqeeha told Asharq Al-Awsat.

As part of the preparations for this 30th anniversary of the UN Convention to Combat Desertification, Faqeeha said: “We will present evidence to delegations showing that significant financial returns are possible for the global community, along with real benefits for society, in line with global development goals.”



Iranian Gas to Iraq Resumes After South Pars Attack

An Iranian man walks along the phase 15-16 of the South Pars gas field facilities in the southern Iranian port of Assaluyeh on the shore of the Gulf on January 22, 2014. (AFP)
An Iranian man walks along the phase 15-16 of the South Pars gas field facilities in the southern Iranian port of Assaluyeh on the shore of the Gulf on January 22, 2014. (AFP)
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Iranian Gas to Iraq Resumes After South Pars Attack

An Iranian man walks along the phase 15-16 of the South Pars gas field facilities in the southern Iranian port of Assaluyeh on the shore of the Gulf on January 22, 2014. (AFP)
An Iranian man walks along the phase 15-16 of the South Pars gas field facilities in the southern Iranian port of Assaluyeh on the shore of the Gulf on January 22, 2014. (AFP)

Iranian gas supplies to Iraq have resumed at a rate of five million cubic meters per day, the Iraqi electricity ministry said on Saturday, according ‌to the state ‌news agency.

Flows had ‌been ⁠halted after Israel ⁠attacked Iran's main gas field, South Pars, on Wednesday.

The current five million cubic meters is a fraction ⁠of the contracted 50 ‌million ‌cubic meters.

Iraqi officials ‌say volumes will increase gradually, ‌but have provided neither a timeframe nor details of the damage to ‌the Iranian gas facilities.

"Following the resumption of ⁠Iranian ⁠gas supplies, the national grid has recorded stability in production at 14,000 megawatts," Ahmed Moussa, an electricity ministry spokesperson, was quoted as saying by the state news agency.


Trump to Be Guest of Honor at Saudi Arabia’s Future Investment Initiative Summit in Miami

Trump delivers a speech at last year's edition of the event. (Asharq Al-Awsat)
Trump delivers a speech at last year's edition of the event. (Asharq Al-Awsat)
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Trump to Be Guest of Honor at Saudi Arabia’s Future Investment Initiative Summit in Miami

Trump delivers a speech at last year's edition of the event. (Asharq Al-Awsat)
Trump delivers a speech at last year's edition of the event. (Asharq Al-Awsat)

The Future Investment Initiative (FII) Institute announced that US President Donald Trump will participate as a guest of honor and speaker at the fourth edition of the “Priority Future Investment Initiative” summit in Miami, scheduled to be held from March 25 to 27.

Trump is scheduled to deliver a keynote speech in person during the summit's closing session on March 27. The appearance marks the second time Trump has addressed this international gathering of leaders, investors, and decision-makers on the platform, reflecting the growing strategic importance of this summit in global economic circles.

Trump's participation comes at a very sensitive time for the global economy, which is reeling under the weight of escalating energy crises and sharp jumps in oil prices that have exceeded the $100 mark.

The global audience in Miami will be waiting to see Trump's vision on how to manage these developments and his philosophy towards the movement of capital in light of current geopolitical conflicts.

In last year's edition, Trump reaffirmed that the golden age of the United States had officially begun, considering the economic progress that had occurred since he took office to be "amazing."

This year's summit is being held under the slogan "Capital in Motion," where it seeks to explore how capital moves, adapts, and leads in a rapidly fragmenting world.

The agenda focuses intensively on the role of investment, technology, and policies in achieving sustainable and inclusive growth, while highlighting Latin America region and the Americas as a center of the current global transformation.

The summit brings together an elite group of senior officials, investors, and innovators, and prominent from the Saudi side is a high-level presence that includes the Governor of the Public Investment Fund and Chairman of the Board of Directors of the Future Investment Initiative Foundation Yasir Al-Rumayyan, Minister of Finance Mohammed Al-Jadaan, Minister of Tourism Ahmed Al-Khateeb, and the Ambassador of the Custodian of the Two Holy Mosques to the United States, Princess Reema bint Bandar Al Saud.

The list of speakers also includes prominent names, such as Steve Witkoff, the US envoy to the Middle East, and Dina Powell McCormick, Vice President of Meta, in addition to the participation of Donald Trump Jr.

The slogan of the fourth edition, "Capital in Motion," reflects an accelerated global reality that knows no stillness, where resources, talents, and ideas flow across borders, industries, and technologies at an unprecedented pace. In light of slowing global growth, persistently high interest rates for longer, and sharp geopolitical rifts, the summit is redrawing the map of investment returns.

The summit is expected to attract more than 1,500 delegates from around the world, forming an economic bridge linking the Middle East, the United States, and the emerging Latin American markets.


IMF Says Gulf Buffers, Export Flexibility Can Absorb War Shock

IMF spokeswoman Julie Kozack speaks during a press conference. (Reuters file)
IMF spokeswoman Julie Kozack speaks during a press conference. (Reuters file)
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IMF Says Gulf Buffers, Export Flexibility Can Absorb War Shock

IMF spokeswoman Julie Kozack speaks during a press conference. (Reuters file)
IMF spokeswoman Julie Kozack speaks during a press conference. (Reuters file)

The International Monetary Fund said that the economic impact of the ongoing conflict on Gulf Cooperation Council (GCC) states will depend on its duration, scope and intensity, with strong financial buffers and export flexibility expected to limit the fallout.

IMF spokeswoman Julie Kozack noted that outcomes will vary by country, largely depending on geographic location and the ability to resume exports. She explained that higher oil prices could help some countries offset production losses either partially or fully, depending on how quickly export flows recover.

She pointed to the Gulf’s substantial sovereign buffers and solid economic foundations, built through years of structural reforms aimed at diversifying income and strengthening logistics infrastructure. These measures have improved the region’s resilience to external shocks.

The IMF’s assessment broadly aligns with recent analysis by ratings agency Standard & Poor’s, which highlighted Saudi Arabia’s East–West pipeline as a strategic alternative export route that reduces reliance on key maritime chokepoints.

Elevated oil prices may also compensate for declining output, while the region’s large financial reserves are expected to support a swift recovery once the conflict subsides.

Kozack also highlighted pressure on regional financial markets, with Gulf stock indices declining and bond spreads widening in line with global volatility driven by inflation concerns and rising geopolitical risks.

Economists broadly view the region’s ample financial assets and foreign reserves as a buffer that will support a quicker rebound. Lessons from past energy crises have also helped Gulf states develop more flexible financial and logistics systems.

Standard & Poor’s recently underscored Saudi Arabia’s strong fiscal position and stable credit rating, citing substantial financial buffers and prudent policies. It also noted that alternative export routes such as the East–West pipeline allow the Kingdom to bypass the Strait of Hormuz, reducing risks to trade and growth.

Inflation risk

At the global level, the IMF is closely monitoring disruptions to energy markets, warning that sustained price increases could drive inflation higher and slow economic growth.

Oil and gas prices have surged by more than 50 percent over the past month, with Brent crude rising above $100 per barrel. If maintained for a year, this could push global inflation up by about 40 basis points and reduce economic output by between 0.1 and 0.2 percent, according to the Fund.

The IMF has signaled it stands ready to support member states, although no requests for emergency financing have been received so far.

It remains in close contact with finance ministers and central bank governors as the conflict enters its third week with no clear end in sight.

Kozack added that central banks should closely monitor whether inflation pressures extend beyond energy prices and whether inflation expectations remain stable.

The Fund is expected to incorporate the impact of the conflict into its updated global economic forecasts, due in mid-April during its Spring Meetings with the World Bank.