BONN, Germany: Saudi Foreign Minister Adel Al-Jubeir said on Thursday he was optimistic about overcoming “the many challenges” in the Middle East and looked forward to working with the administration of US President Donald Trump.
Asked if he was concerned that the Trump administration was backing away from a two-state solution to the Israeli-Palestinian conflict, Jubeir said: “We look forward to working with the Trump administration on all issues in the region.”
“We are very, very optimistic about our ability to overcome the many challenges we face in the region,” he added.
Saudi foreign minister optimistic about overcoming Mideast challenges
Saudi foreign minister optimistic about overcoming Mideast challenges
Ritz-Carlton Residences, Diriyah launches ‘Signature Collection’
At Cityscape Global in Riyadh, Diriyah Company announced the launch of 59 new luxury apartments and villas for the Signature Collection of The Ritz-Carlton Residences, Diriyah, marking the latest release of its luxury branded residences. This launch follows the successful sell-out of the initial 106 Ritz Carlton Residences.
This exclusive new collection offers 59 fully furnished apartments and villas, with options ranging from one-bedroom to four-bedroom configurations, each meticulously crafted to meet the legendary standards of The Ritz-Carlton brand.
Residents will also enjoy exclusive access to amenities at the co-located hotel, The Ritz-Carlton, Diriyah, including a state-of-the-art gym, luxurious spa, and fine-dining restaurants.
BACKGROUND
The development of these luxury hotel residences at Diriyah is part of a comprehensive residential strategy to create diverse living opportunities for more than 100,000 future residents.
Announcing the new residences, Diriyah Company Group CEO Jerry Inzerillo said: “We are delighted to announce these new world-class luxury homes from the Ritz-Carlton brand. Following the incredible success and sell-out of our initial release of 106 villas at The Ritz-Carlton Residences, Diriyah, we are anticipating significant demand for this exceptional new offering. This announcement underscores our dedication to delivering best-in-class offerings at every stage of our incredible development journey.”
Jaidev Menezes, regional vice president — mixed-use development, EMEA, Marriott International, said: “Following the overwhelming success and sold-out response to the initial release of villas at The Ritz-Carlton Residences, Diriyah, we are excited about the launch of the new inventory of villas and apartments. We are once again expecting high levels of demand for the newly launched residences offering tranquility, privacy and luxury living in one of the most significant cultural and heritage destinations in the region.”
The development of these luxury hotel residences at Diriyah is part of a comprehensive residential strategy to create diverse living opportunities for more than 100,000 future residents. This wide-ranging plan underscores Diriyah’s vision to become a premier destination for luxury living and community development.
Mastercard announces winners of mentorship program
Mastercard partnered with Saudia and Blossom Accelerator for the third season of its “Her Voice” mentorship program, empowering female entrepreneurs to attain lasting success.
The entities hosted three workshops across Jeddah, Riyadh, and Alkhobar, with more than 100 participants across all the cities. Each workshop enabled the opportunity to foster connections among women from across the Kingdom, offering participants access to all-important learning and networking. A competition held at each workshop also provided the opportunity for one winner from each city to be granted the mentorship program.
Reima Sras, founder of Buthoor Tech; Munirah Alkadi, founder of Mawsim; and Sarah Albaiz, founder of Qantara Studio; were selected as the competition’s three winners, each being enrolled in the innovative “Her Voice” program facilitated by Blossom Accelerator.
Each participant was evaluated based on leadership, product viability in the market, business model strength, and other key criteria.
“As more Saudi women take the reins of leadership and drive the future of the Kingdom’s SME space, we must work to ensure that we continue pioneering innovative programs that bridge the entrepreneurship gender gap,” said Maria Medvedeva, country manager, Saudi Arabia, Mastercard. “At Mastercard, we believe collaboration is crucial to launching the effective platforms required to accomplish this goal, and we are pleased to have partnered with Saudia and Blossom Accelerator to empower even more women for Season 3 of ‘Her Voice.’ We look forward to seeing our mentees grow, flourish and thrive, realizing their considerable potential and serving as champions of Saudi female excellence.”
Essam Akhonbay, vice president of marketing at Saudia, said: “As Saudi Arabia’s national flag carrier, we are deeply invested in the nation’s future and believe women are central to its success.”
Through ‘Her Voice,’ we empower female entrepreneurs to thrive, inspiring future generations and creating pathways for small businesses to prosper. By showcasing their remarkable stories on our in-flight entertainment system, we not only highlight their achievements but also reinforce Saudia’s commitment to promoting local content that fuels economic growth and social progress.”
“At Blossom Accelerator, we are proud to be a global leader in driving inclusive innovation, recognizing that diverse perspectives are key to unlocking economic potential and maximizing investment returns. Our mission is to empower female-led startups across the globe, equipping them with the essential tools and resources to excel in the competitive digital economy,” said Emon Shakoor, CEO and founder.
This season focused on connecting people to their passions, with each episode exploring a different passion point, namely: gaming, tech, sustainability, culinary, and sport. Over the course of each interview, guests recounted their personal and professional journeys in their own voices in conversation with the host, renowned Saudi actress and broadcaster Danyah Shafei.
stc on global expansion spree with development of data centers and submarine cables
Leading digital enabler stc Group is continuing to implement its expansion plans to develop data centers and submarine cables, strengthening the Kingdom’s position as a digital hub in the Middle East. Two strategic projects have catapulted this effort: stc Group’s subsidiaries stc Bahrain and center3 have built a state-of-the-art Data Center Park in Bahrain, as part of one of the world’s largest submarine cable systems connecting Europe, the Middle East, and Africa. This project, known as “Africa 2 Pearls,” will extend over 45,000 kilometers, totaling $300 million in investment.
These projects complement the group’s investments through its subsidiary — center3 — a leading provider of international data centers and communications services via submarine cables. center3 now operates 25 data centers and has expanded its submarine cable network to include 16 cables connecting three continents. The network includes the “Saudi Vision Cable,” wholly owned by stc via center3 and equipped with three landing stations that ensure continuous and reliable data transfer services. This represents a fundamental pillar in the group’s long-term strategy.
The “Africa 2 Pearls” cable is an important achievement in this context, as it connects 33 countries in Asia, Africa and Europe, which supports stc Group’s vision for global expansion, data flow and communications, and enhances its position as a major driver of digital transformation across various sectors at the international level.
COP29 draft deal would have rich nations pay $300 billion in climate finance
- EU, US, others raised their offer after earlier draft rejected
- Climate talks run into overtime. Talks reach deal on carbon credits
BAKU, Azerbaijan: Developed nations should pay $300 billion a year by 2035 to help poorer countries deal with climate change, according to a new draft deal from UN climate talks published early on Sunday, after an earlier target of $250 billion was rejected.
Reuters previously reported that the European Union, the United States and others wealthy countries would support the $300 billion annual global finance target in an effort to end a deadlock at the two-week summit.
The document, described as a draft decision rather than a draft negotiating text like previous iterations, said nations had decided to set a goal “of at least $300 billion per year by 2035 for developing country Parties for climate action.”
The decision would need to be adopted by consensus before becoming final.
The COP29 climate conference in the Azerbaijan capital Baku had been due to finish on Friday, but ran into overtime as negotiators from nearly 200 countries struggled to reach consensus on the climate funding plan for the next decade.
At one point delegates from poor and small island nations walked out of talks in frustration over what they called a lack of inclusion, and amid concerns fossil fuel producing countries were seeking to water down aspects of the deal.
The summit cut to the heart of the debate over the financial responsibility of industrialized countries, whose historical use of fossil fuels has caused the bulk of greenhouse gas emissions, to compensate others for the damage wrought by climate change.
It also laid bare the divisions between wealthy governments constrained by tight domestic budgets and developing nations reeling from the costs of worsening storms, floods and droughts.
Fiji’s Deputy Prime Minister Biman Prasad told Reuters he was optimistic for an eventual agreement in Baku.
“When it comes to money it’s always controversial but we are expecting a deal tonight,” he said.
The new goal is intended to replace developed countries’ previous commitment to provide $100 billion per year in climate finance for poorer nations by 2020. That goal was met two years late, in 2022, and expires in 2025.
A previous $250 billion proposal drawn up by Azerbaijan’s COP29 presidency was rejected as too low by poorer countries, which have warned a weak deal would hinder their ability to set more ambitious greenhouse gas emissions cutting targets.
Countries also agreed Saturday evening on rules for a global market to buy and sell carbon credits that proponents say could mobilize billions of dollars into new projects to help fight global warming.
What counts as developed nation?
Negotiators have been working to address other questions on the finance target, including who is asked to contribute and how much of the funding is provided as grants, rather than loans.
The roster of countries required to contribute — about two dozen industrialized countries, including the US, European nations and Canada — dates back to a list decided during UN climate talks in 1992.
European governments have demanded others join them in paying in, including China, the world’s second-biggest economy, and oil-rich Gulf states.
Donald Trump’s US presidential election victory this month has also cast a cloud over the Baku talks.
Trump, who takes office in January, has promised to again remove the US from international climate cooperation, so negotiators from other wealthy nations expect that under his administration the world’s largest economy will not pay into the climate finance goal.
A broader goal of raising $1.3 trillion in climate finance annually by 2035 — which would include funding from all public and private sources and which economists say matches the sum needed — was included in the draft deal.
Al-Khaleej stun Al-Hilal with comeback win
- Defeat was first for reigning champions in the league in 46 games since May 2023
RIYADH: Al-Hilal lost 3-2 at Al-Khaleej on Saturday, a result made even more stunning as the all-conquering champions had been winning 2-0.
It is a defeat, a first in the league in 46 games since May 2023, that not only blows the title race wide open but shows that the champions are not invincible.
Al-Ittihad will go two points clear at the top of the Saudi Pro League if they beat Al-Fateh on Sunday. It also means that Al-Nassr stay five points behind and are not out of the running.
The Blues had the better of the play from the beginning and few were surprised when Marcos Leonardo put the leaders ahead after just 12 minutes.
Sergej Milinkovic-Savic won the ball on the edge of the area as Khaleej tried to play out from the back and there was Leonardo to stroke a low shot home.
Eight minutes before the break, Aleksandar Mitrovic struck with his 12th goal in the SPL this season. Salem Al-Dawsari, such a big miss for Saudi Arabia in recent World Cup qualifiers, curled over a corner and there was the Serbian striker to head home.
It seemed to be all over but then the hosts were handed a lifeline on the stroke of half time. Kalidou Koulibaly made a clumsy challenge in the area and while Yassine Bounou saved the penalty from Konstantinos Fortounis, Abdullah Al-Salem reacted the quickest to shoot the rebound home.
Al-Salem stunned Al-Hilal soon after the restart with a stunning goal. The hosts made uncharacteristic defensive mistakes and Khalid Narey fed the ball to the 31 year-old who chipped Bounou delightfully from the right side of the area.
With five minutes remaining, Fabio Martins side footed home from another Narey assist to provoke wild celebrations as Al-Khaleej move into sixth. Al-Hilal stay top but maybe not for much longer.