Kazakh Official Reveals Details of Water Summit Co-Chaired with Saudi Arabia, France

Kazakhstan’s First Vice Minister of Water Resources, Bekniyaz Bolat (Asharq Al-Awsat)
Kazakhstan’s First Vice Minister of Water Resources, Bekniyaz Bolat (Asharq Al-Awsat)
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Kazakh Official Reveals Details of Water Summit Co-Chaired with Saudi Arabia, France

Kazakhstan’s First Vice Minister of Water Resources, Bekniyaz Bolat (Asharq Al-Awsat)
Kazakhstan’s First Vice Minister of Water Resources, Bekniyaz Bolat (Asharq Al-Awsat)

A Kazakh official has outlined plans for a trilateral summit to organize a global event under the “One Water Summit” initiative.

The summit, which will be chaired by Saudi Arabia, Kazakhstan, and France, and supported by the World Bank, aims to build alliances, make commitments on water resources, and find practical solutions to global water issues.

Speaking to Asharq Al-Awsat, Kazakhstan’s First Vice Minister of Water Resources, Bekniyaz Bolat, said the summit is a key step toward the UN Water Conference in 2026.

The main goals of the summit include water sharing, expanding efforts to protect freshwater ecosystems, exploring innovative financial solutions, and minimizing water resource impact through measures like reducing water footprints and sharing information.

Bolat outlined seven key measures to address climate change, including developing strategies for adaptation, involving stakeholders like the private sector, and using new technologies. The plan also focuses on efficient water use in agriculture, water-saving irrigation, drought-resistant crops, and updating infrastructure.

Bolat stressed that the summit reflects Kazakhstan’s commitment to international cooperation, offering participants the chance to share knowledge and efforts on water management.

This collaboration will help introduce innovative techniques for measuring, managing, and using water, aiming to adapt to changing water cycles and preserve resources.

A key focus is investment in infrastructure, especially joint projects to modernize water systems. On November 12, 2024, Kazakhstan signed a $1.153 billion loan agreement with the Islamic Development Bank during the COP29 climate summit in Baku.

Strategic Cooperation with Saudi Arabia

Bolat also discussed opportunities for strategic cooperation between Saudi Arabia and Kazakhstan, particularly in environmental and natural resource management.

Both countries face climate change challenges, including water scarcity and desertification. Collaborative projects on restoring reservoirs, water-saving technologies, and anti-desertification efforts are seen as vital for strengthening ties.

He highlighted the potential for shared knowledge, with Saudi Arabia’s expertise in desalination and Kazakhstan’s projects like the Aral Sea restoration. Participation in global climate initiatives will further deepen this cooperation.

Adapting to Climate Change

Kazakhstan is actively working to adapt its water sector to climate change. Bolat emphasized the need for proactive measures to ease pressure on water resources.

In response to water shortages, Kazakhstan has focused on sustainable water management, including renewing reservoirs to store a record 75 billion cubic meters of water this year—15 billion more than last year. Over 12 billion cubic meters of this came from floodwaters.

He also mentioned ongoing work to modernize water infrastructure, which improves efficiency and ensures stable water supplies, even during droughts.

As a country reliant on transboundary rivers, Kazakhstan is committed to working with neighboring countries. Thanks to “water diplomacy,” it has secured sufficient water supplies for its southern regions, with water deliveries exceeding expectations.

Bolat concluded by emphasizing Kazakhstan's dedication to responsible water use, including implementing water-saving technologies, supporting farmers with modern irrigation methods, and promoting sustainable water practices among its citizens.



World Food Prices Rose in March as Iran War Lifted Energy Costs, FAO Says

 A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
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World Food Prices Rose in March as Iran War Lifted Energy Costs, FAO Says

 A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)

World food prices climbed in March, due largely to higher energy costs linked to the escalating conflict in the Middle East, the United Nations Food and Agriculture Organization said on ‌Friday.

The FAO ‌Food Price Index, ‌which ⁠measures changes in ⁠a basket of globally traded food commodities, averaged 128.5 points in March, up 2.4% from its revised February level.

"Price rises ⁠since the conflict ‌began ‌have been modest, driven mainly by ‌higher oil prices and ‌cushioned by ample global cereal supplies," FAO Chief Economist Maximo Torero said in ‌a statement.

But if the conflict lasts over 40 days ⁠and ⁠input costs remain high, farmers may reduce inputs, plant less, or switch crops, leading to lower future yields and affecting food supply and prices for the rest of this year and next, he said.


Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
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Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)

Turkish consumer price inflation was 1.94% month-on-month in March, while the annual figure fell to 30.87%, data from the Turkish Statistical Institute showed ‌on Friday.

In ‌a Reuters ‌poll, ⁠monthly inflation was ⁠forecast to be 2.32%, with the annual rate seen at 31.4%, driven by ⁠a rise in ‌fuel prices ‌and weather-related pressures ‌on food inflation.

In ‌February, consumer prices rose 2.96% month-on-month and 31.53% year-on-year, broadly in ‌line with estimates and reinforcing expectations that ⁠the ⁠disinflation process may be stalling.

The data also showed the domestic producer index rose 2.30% month-on-month in March for an annual increase of 28.08%.


Oil Prices Surge While Asian Share Prices Rise Moderately

FILE - Workers walk in an area at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the US and Israeli attacks on Iran, near Basra, Iraq, March 28, 2026. (AP Photo/Leo Correa, File)
FILE - Workers walk in an area at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the US and Israeli attacks on Iran, near Basra, Iraq, March 28, 2026. (AP Photo/Leo Correa, File)
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Oil Prices Surge While Asian Share Prices Rise Moderately

FILE - Workers walk in an area at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the US and Israeli attacks on Iran, near Basra, Iraq, March 28, 2026. (AP Photo/Leo Correa, File)
FILE - Workers walk in an area at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the US and Israeli attacks on Iran, near Basra, Iraq, March 28, 2026. (AP Photo/Leo Correa, File)

Oil prices continued to surge on worries of a prolonged Iran war but the Asian markets that were open Friday rose moderately in cautious trading, while others were closed for the Good Friday holidays.

Benchmark US crude rose 11.4% to $111.54 a barrel. The price of Brent crude, the international standard, jumped 7.8% to $109.03 per barrel, The Associated Press said.

“A more extended conflict raises the threat to physical infrastructure, extends disruptions through the Strait of Hormuz, and will entail a longer post-war recovery period, with price impacts spilling over later into the year,” according to a report from BMI, a unit of Fitch Solutions.

The US only relies on the Arabian Gulf for a fraction of the oil it imports, but oil is a commodity and prices are set in a global market.

The situation is very different in Asia. Japan, for example, relies on access to the Strait of Hormuz for much of the nation’s oil import needs and would need to rely on alternative routes. But some analysts say Japan and other nations are counting on an agreement with Iran to allow transports.

Japan’s benchmark Nikkei 225 gained 0.9% in Friday morning trading to 52,938.62. South Korea’s Kospi jumped 2.1% to 5,344.41. The Shanghai Composite sank 0.5% to 3,899.57. Trading was closed in Hong Kong, Singapore, Australia, New Zealand, the Philippines, Indonesia and India.

Wall Street, where trading is closed Friday, finished its first winning week since the start of the Iran war, although trading started out with a decline driven by a surge in oil prices.

That came after US President Donald Trump late Wednesday vowed the US will continue to attack Iran and failed to offer a clear timetable for ending the conflict in the Middle East.

The S&P 500 rose 7.37 points, or 0.1%, to 6,582.69. Several days of solid gains this week helped the benchmark index notch a 3.4% gain for the week. The Dow Jones Industrial Average fell 61.07 points, or 0.1%, to 46,504.67. The Nasdaq composite rose 38.23 points, or 0.2%, to 21,879.18. Both indexes also notched weekly gains.

Treasury yields remained relatively steady in the bond market. The yield on the 10-year Treasury fell to to 4.30% from 4.32%.

In currency trading, the US dollar edged up to 159.66 Japanese yen from 159.53 yen. The euro cost $1.1535, inching down from $1.1537.