LONDON: Development economist Haifa Fahoum Al-Kaylani has a well-deserved international reputation for her commitment to empowering women. She is unusual in having access at the highest levels to governments, business and NGOs globally.
“It is important to work with the public and private sector and civil society to achieve accessibility, progress and peace and provide opportunities for the future,” she said.
As the founder and chairman of the Arab International Women’s Forum she has driven major initiatives to help women in the MENA region achieve equality and parity in the workplace, whether as high flying executives in blue chip companies or hard toiling agricultural laborer. She is constantly working to improve legislative protection for women, open up educational pathways and foster cultural shifts that allow women to fulfil their roles both career wise and in their roles as mothers and nurturers of the next generation.
She takes a positive view of what has been achieved to date and emphasized that it is important to acknowledge progress as “it comes on the back of a lot of effort by women themselves and others in the community.”
She noted: “Over the last year I have seen a lot of progress in the Arab world in women’s leadership. We have seen women assuming high level positions in the private sector, in government and in the judiciary and legislature. Our region is leading the way in technology and women are very much involved in the tech business, benefitting from the innovation and driving new projects and setting up SMEs.”
With reference to the Tech Sector, Al-Kaylani pointed to a recent initiative undertaken in Lebanon.
“In Lebanon the Central Bank has given a guarantee to the commercial banks to grant loans to viable tech projects by young entrepreneurs. This is unusual as the Central Bank would normally focus on running the monetary and fiscal policies but this new measure is to support what they believe can be a vibrant tech sector driven by young enterprise.”
She also pointed to important measures introduced to protect women.
“Looking at the region, we have seen legal reforms, especially in Lebanon, Jordan and Tunisia, to protect women from domestic violence. Egypt also passed a law granting women inheritance rights on an equal basis with men. The UAE is leading the way on maternity rights for mothers and the recently launched Ministry of Happiness and Wellbeing is outstanding.
“Jordan recently appointed its first female judge, Ihsan Zuhdi Barakat, to the Supreme Court.
With reference to Saudi Arabia, she said: “We have seen young women graduating with outstanding accomplishments across all fields of study. They are attaining success at the highest levels including within the Consultative Assembly. They have been moving forward very well in their roles in the economy and in education and it is welcome that they are now able to attend public events in sports and be legally empowered to drive. A lot is happening – all indicators of positive change. Women are keen to play their role in the economic development of Saudi Arabia as outlined in the very valuable 2030 Vision of HRH Crown Prince Mohammed bin Salman.”
While recognizing the significant progress that has been made, Al-Kaylani is clear that there are many challenges that must be faced and overcome.
“The region needs to bridge the gender gap which includes promoting financial incentives and support for women. Finance remains a barrier. We still need to promote technological literacy and improve the infrastructure. We need to focus on capacity building and to build on advocacy to reshape cultural attitudes as we still suffer from certain societal and cultural norms. We need to inspire women’s self-belief in themselves. This is crucially important”, she said.
Al-Kaylani believes that female role models have a major impact in driving change within society that is beneficial to women.
“We need more visible role models. Active, vibrant, dynamic, accomplished role models are extremely important – they help to change mindsets and inspire the younger generations,” she said.
She recalled: “I remember from our many events over the years that young women, especially those from the UAE, would say that Sheikha Lubna Qasimi was their inspiration.
“They all wanted to be like Sheikha Lubna – and she remains a trailblazer. She was the first woman to hold a cabinet position in the UAE and with so many accomplishments.”
She wants to see a culture in which the rights of women are recognized and embedded in law.
“We need to move ahead with reforming the laws in the region to give women equal pay for equal work, more maternity leave and acknowledge the work as homemakers. This is very important to secure the legal provisions that guarantee the rights of women as full members of society,” she said.
Last December, as part of its Young Arab Women Leaders initiative, following on from the successful Young Arab Women Leaders conferences held across the MENA region, AIWF partnered with the Royal Academy of Engineering, the World Bank and PwC, in London, to promote women-led innovation in STEM (Science, technology, engineering and mathematics).
Al-Kaylani, who hosted and chaired the conference, noted the valuable participation of the Saudi scientist Hyat Sindi, who is an Adviser on Science, Technology and Innovation to the President of the Islamic Development Bank in Jeddah.
Al-Kaylani serves as a Fellow of the Harvard Advanced Leadership Initiative 2017, and as a Commissioner on the ILO Global Commission on the Future of Work. Her commitments see her travelling constantly, always with the aim of using her talents to make a difference.
She is clear about what she brings to the table.
“At heart I am a Development Economist through and through. Wherever I see an angle where I can add value, especially as an Arab woman with roots in the region as well as being a global citizen, I participate. I focus on where I see an impact that will create economic growth, development and equality of opportunity – breaking stereotypes. I am also at heart a bridge builder and wherever I see a chance to build better understanding of my region and the Middle East, I am proud to serve,” she said.
Her latest initiative is in the field of Sustainable Agriculture. She has just launched a project to develop a Social Enterprise that will provide an innovative model for sustainable development through agriculture across the MENA region. The project, based in Jordan, will introduce 21st Century technology and innovation to the oldest industry in the world – farming.
As she stated in a recent speech at Harvard: “Many countries in the Middle East are considered both water and food insecure. This problem is exacerbated by climatic changes, scarcity of water resources and the challenges the region is encountering in absorbing the huge flux of refugees from Syria.
“The population of Arab States is expected to reach 487 million by the year 2025 and food production will have to increase by 70 percent in order to sustain the growing population.
“The looming scarcity of water in the Middle East is a huge challenge that requires an urgent response, as access to water is a fundamental need for food security, human health and agriculture.”
The project in Jordan is intended to be scaled-up and replicated across the wider MENA region in the years to come.
At the conclusion of the interview, Arab News asked Al-Kaylani, to describe the qualities and outlook that enable people to create positive change. A positive approach, she said, is key.
“You cannot make any difference in this world or move any agenda forward without a positive, determined, well informed and well researched approach.
“Over my 30-year career, it’s been a learning process for me throughout and also an opportunity to exchange and engage with others – to give and receive. I have always tried to work on common agendas that have an impact on improving peoples’ lives.”
Haifa Fahoum Al-Kaylani: The development economist and women’s rights advocate making a difference
Haifa Fahoum Al-Kaylani: The development economist and women’s rights advocate making a difference
Citi gets license for regional headquarters in Saudi Arabia, memo shows
- Wall Street giant received the approval from the Ministry of Investment Saudi Arabia
RIYADH: US bank Citigroup has received approval to establish its regional headquarters in Saudi Arabia’s Riyadh, according to an internal memo seen by Reuters on Friday.
The Wall Street giant received the approval from the Ministry of Investment Saudi Arabia (MISA), according to the memo.
“This marks a significant leap forward for our franchise in Saudi Arabia and we look forward to our continued growth in the kingdom,” Citi Saudi Arabia CEO Fahad Aldeweesh said in the memo.
Bloomberg News reported the development earlier in the day.
Wall Street titan Goldman Sachs also received a license in May to set up its regional headquarters in Saudi Arabia’s Riyadh.
Saudi Arabia joins global hydrogen fuel partnership
RIYADH: Saudi Arabia has joined a key international alliance designed to enhance cooperation around the development and deployment of hydrogen and fuel cell technologies.
The International Partnership for the Hydrogen and Fuel Cell Economy works to deliver a balanced and effective global transition to cleaner and more efficient energy systems.
The Kingdom’s Ministry of Energy announced Saudi Arabia had signed up to the organization, with a press release saying the move represents a new step that confirms the “pioneering role” that the Kingdom is playing in international efforts aimed at enhancing sustainability and “innovating advanced solutions” in the fields of clean power.
Saudi Arabia has pledged to achieve zero neutrality in terms of carbon emissions by 2060, as well as becoming one of the world’s most important producers and exporters of clean hydrogen.
The press release added: “The Kingdom’s accession to this partnership confirms its firm vision regarding the role of international cooperation and its importance in achieving a more sustainable energy future.”
The IPHE was originally launched in 2003 by the US, and has two active working groups covering Education & Outreach, and Regulations, Codes, Standards, & Safety.
COP29 enters final hours amid key negotiations on climate finance and carbon markets
BAKU: As COP29 nears its conclusion, negotiators are working intensively to finalize agreements that could significantly advance global climate action.
Hosted in Baku, Azerbaijan, the conference has focused on critical issues such as climate finance, adaptation strategies, and the operationalization of carbon markets under the 2015 Paris Agreement.
Although decisions remain in draft form, the discussions signal progress on aligning global efforts with the urgent need to combat the climate crisis.
Saudi Arabia has emerged as a key player, leveraging its growing diplomatic influence and domestic climate initiatives to shape the outcomes.
Push for equitable climate finance
One of the most pressing topics at COP29 has been the New Collective Quantified Goal on climate finance.
Negotiators are seeking to establish a framework that mobilizes $1.3 trillion annually by 2035 to support developing nations in addressing climate change.
This new goal reflects the escalating financial demands of both mitigation and adaptation efforts, with developing countries requiring $215 billion to 387 billion annually for adaptation alone through 2030.
Saudi Arabia has been a vocal advocate for equitable financing mechanisms, emphasizing the need for practical pathways to unlock funds for countries that bear the brunt of climate impacts yet have limited resources.
The Kingdom has supported calls for reforming global financial institutions to reduce barriers such as high borrowing costs and restrictive conditions. This aligns with Saudi Arabia’s broader position that climate finance must be accessible and targeted to the most vulnerable nations.
Domestically, Saudi Arabia has backed its advocacy with action. The Kingdom has committed significant investments to its Saudi Green Initiative, which includes billions of dollars for renewable energy projects, reforestation, and environmental restoration.
These initiatives underscore Saudi Arabia’s dual focus on addressing domestic climate challenges and contributing to global solutions, according to the draft resolution.
“Through initiatives like the Saudi Green Initiative, the Kingdom has committed to reducing regional emissions by more than 10 percent and leading the planting of 50 billion trees across the Middle East to combat desertification and foster environmental sustainability,” the document stated.
Carbon Markets: A Saudi priority
Discussions on Article 6 of the Paris Agreement, which governs international carbon trading, have been another focal point of COP29.
Saudi Arabia has taken a prominent role in shaping the rules for carbon markets, advocating for frameworks that promote transparency and equitable participation.
Under Article 6.2, which covers bilateral cooperation, and Article 6.4, which establishes a centralized mechanism for trading carbon credits, Saudi negotiators emphasized the importance of avoiding double-counting emissions reductions and ensuring environmental integrity.
These safeguards are essential for building trust in the carbon market as a tool for accelerating emissions reductions.
In the draft resolution on financing released by the UN Framework Convention on Climate Change it is outlined that “Saudi Arabia emphasizes the importance of transparency and equitable participation in Article 6 mechanisms, ensuring that developing nations can benefit from international carbon trading frameworks.”
The Kingdom’s engagement in these discussions reflects its broader ambition to become a regional hub for carbon trading. The Kingdom is advancing projects in carbon capture, utilization, and storage, positioning itself as a leader in leveraging market-based solutions to achieve climate goals.
These efforts align with the Saudi Green Initiative’s targets for emissions reductions and renewable energy expansion.
A commitment to adaptation
While mitigation often dominates global climate discussions, COP29 has seen renewed attention to adaptation – an area where Saudi Arabia has also contributed actively.
Negotiators are working to refine the Global Goal on Adaptation by developing measurable indicators to track progress.
These metrics aim to ensure that adaptation efforts are effective and responsive to the needs of vulnerable communities.
“Saudi Arabia continues its focus on promoting energy efficiency, a critical pillar of its sustainability agenda, as highlighted by top officials during COP29 discussions,” reads the draft resolution.
The Kingdom has supported these efforts, emphasizing the importance of integrating local knowledge and traditional practices into adaptation strategies. The Kingdom’s approach aligns with its domestic priorities, which include enhancing resilience to desertification and water scarcity, challenges exacerbated by its arid climate, the document added.
Inclusivity and collaboration
Inclusivity has been a central theme at COP29, and Saudi Arabia has demonstrated its commitment to ensuring diverse voices are part of the climate conversation. The Kingdom supported the draft Baku Workplan, which aims to elevate indigenous peoples and local communities in climate governance.
Domestically, Saudi Arabia has prioritized inclusivity through education and workforce development programs that prepare youth and women for leadership roles in green industries.
These initiatives are part of broader reforms under Vision 2030, which aims to diversify the economy while ensuring equitable opportunities for all citizens.
Regional leadership
Saudi Arabia’s influence extends beyond its national borders. Through the Middle East Green Initiative, the Kingdom is fostering regional cooperation to combat climate change.
The initiative includes ambitious goals to plant 50 billion trees across the Middle East and reduce regional emissions by more than 10 percent.
At COP29, these efforts were presented as examples of how regional action can amplify global progress.
By working closely with other Gulf Cooperation Council countries, Saudi Arabia is also driving investments in renewable energy projects that enhance energy security and sustainability.
These partnerships underscore the Kingdom’s role as a regional leader in climate action, capable of catalyzing collective efforts to address shared challenges.
Challenges and opportunities ahead
As COP29 approaches its conclusion, much remains to be finalized. The draft decisions on climate finance, carbon markets, and adaptation reflect significant progress but also underscore the complexity of reaching consensus among diverse stakeholders.
Saudi Arabia’s contributions to these discussions demonstrate its ability to balance domestic priorities with international leadership. By advocating for equitable solutions, advancing regional cooperation, and showcasing its own climate successes, the Kingdom has positioned itself as a key player in shaping the global response to climate change.
The conference has marked an important step forward in the global fight against climate change. The agreements under discussion – particularly those on finance and carbon markets – highlight the growing recognition that collective action is essential to achieving the Paris Agreement’s goals.
Saudi Arabia’s active participation in these negotiations underscores its evolving role as a climate leader.
Saudi cement sales up 5% to 12.84m tonnes amid sustainability drive
RIYADH: Cement sales in Saudi Arabia saw an annual increase of 4.93 percent in the third quarter of 2024, reaching 12.84 million tonnes, according to recent data.
Figures released by Al-Yamama Cement showed that 96.18 percent of these sales were domestic, with only 3.82 percent being exported.
The data covers 17 Saudi cement companies, with Al-Yamama Cement holding the largest share of domestic sales at 12.47 percent, amounting to 1.54 million tonnes, despite experiencing a 27.18 percent decline during the period.
With the successful acquisition of Hail Cement Company by Qassim Cement Company, QCC now leads the market with the highest share among its peers at 13.37 percent, or 1.65 million tonnes, moving Al-Yamama Cement to second place.
Saudi Cement, Southern Cement and Yanbu Cement held 8.96 percent, 8.49 percent and 8.18 percent shares of the domestic market respectively.
The highest growth in domestic sales was recorded by Umm Al-Qura Cement, which saw a 69 percent increase to 372,000 tonnes during this period, despite holding a relatively small 3 percent market share.
City Cement’s local sales rose by 52.69 percent annually to 739,000 tonnes, while Tabuk Cement experienced a 27.3 percent increase, reaching 429,000 tonnes.
In terms of cement exports, Saudi Cement dominated with 80.45 percent of total shipments, amounting to 395,000 tonnes this quarter. This figure represents a 13.18 percent increase compared to the same quarter last year.
Najran Cement accounted for 11 percent of exports for the quarter, totaling 54,000 tonnes, marking a 24 percent decline. Eastern Cement with 8.55 percent share saw a 133 percent rise in exports, reaching 42,000 tonnes.
Saudi Arabia also exported 1.08 million tonnes of clinker during this period, marking a 41 percent decline compared to the same period last year.
Clinker, a crucial intermediate product in cement production, is commonly exported due to its cost-effectiveness. It is more economical to ship it to other countries for final processing into cement than to produce the finished product and then export.
According to a report by AlJazira Capital, the total utilization rate of the cement sector in Saudi Arabia stood at 72.8 percent in September.
This figure represents the proportion of the cement production capacity that is actively being used to meet demand.
A utilization rate of 72.8 percent indicates that, on average, the cement industry in Saudi Arabia is using just over two-thirds of its available production capacity.
Saudi Arabia is a prominent player in the global cement industry, ranking among the top 10 producers worldwide. The Kingdom’s production capacity has been bolstered by significant investments to meet both domestic demand and export opportunities.
Key factors driving Saudi Arabia’s cement industry include its robust infrastructure development, housing projects, and initiatives under Vision 2030, which aim to diversify the economy and reduce reliance on oil revenues.
Saudi Arabia’s path to decarbonization
In October, Saudi Arabia’s cement sector took a significant leap towards decarbonization with the announcement of a joint venture between the UK’s Next Generation SCM and Nizak Mining Co., a subsidiary of City Cement.
The collaboration is focused on producing supplementary cementitious materials locally, utilizing an innovative, energy-efficient technology.
This new method requires only one-sixth of the fuel compared to conventional cement production and operates at lower temperatures, significantly reducing operational costs and carbon emissions.
The technology already demonstrates a 99 percent reduction in emissions, producing just 8 kg of CO2 per tonne of calcined clay, compared to the global average of 600 kg per tonne.
The joint venture is part of the Kingdom’s broader decarbonization strategy, which is aligned with Vision 2030 and the Saudi Green Initiative.
As part of these proposals, the Kingdom has set an ambitious goal of cutting carbon emissions by 278 million tonnes annually by 2030.
This venture, which will have its first production plant in Riyadh, is expected to produce up to 700,000 tonnes of low-carbon supplementary cementitious materials in its second year of operations, starting in 2025.
The project is also crucial for the domestic production of low-carbon concrete, as traditional SCM alternatives, like fly ash and slag, are not readily available in Saudi Arabia.
The venture will not only help Saudi Arabia meet its sustainability targets but also strengthen its position as a regional hub for low-carbon materials, generating both economic and environmental benefits.
Speaking in October, Majed Al-Osailan, CEO of City Cement, emphasized the long-term impact of the project, stating that it will create jobs, improve access to sustainable building materials, and create export opportunities for the Kingdom.
According to a study by the Boston Consulting Group in September, Saudi Arabia stands to gain a significant competitive advantage in the global cement industry as the sector moves toward decarbonization through carbon capture and storage.
The competitive dynamics of the industry are shifting due to the high costs associated with CCS, which is essential for achieving net-zero emissions by 2050.
One of the primary factors influencing future competitiveness is a plant’s proximity to CO2 storage sites.
Cement plants located within 200 km of CCS hubs could see abatement costs reduced by half compared to those located farther away.
This geographical advantage will be crucial in determining cost competitiveness on a global scale.
Saudi Arabia, with its lower energy costs, is well-positioned to capitalize on this advantage according to the study. The Middle East, in general, benefits from cheaper energy, which could give Saudi plants a $20 per tonne cost advantage in CCS over the global median.
This would allow Saudi Arabia to emerge as a key export hub in the global cement market.
Plants in the Kingdom that can minimize their CCS abatement costs will be internationally competitive, particularly as global trade dynamics shift and demand grows for low-carbon cement.
Moreover, Saudi Arabia’s energy infrastructure and strategic location near key shipping routes bolster its potential as a regional and global supplier of cement.
With substantial investments in CCS technology and renewables, the Kingdom could not only meet domestic demand but also serve international markets more efficiently, securing its position in the evolving global cement trade.
As the cost of CCS implementation rises, the global competitive landscape will be reshaped, with plants closer to CO2 storage hubs and renewable energy sources becoming more attractive.
Saudi Arabia’s competitive edge, therefore, lies in its ability to leverage its energy resources and strategic location, potentially making it a leader in the export of low-carbon cement solutions.
Oil Updates – crude heads for weekly gains as Ukraine war intensifies
LONDON: Oil prices inched lower on Friday, but were on track for a weekly rise of nearly 4 percent, as an intensifying war in Ukraine returned a geopolitical risk premium to oil markets.
Brent crude futures fell 65 cents, or 0.88 percent, to $73.58 a barrel by 4:12 p.m. Saudi time. US West Texas Intermediate crude futures fell by 66 cents, or 0.94 percent, to $69.44 per barrel.
Pressuring prices on Friday, eurozone business activity took a surprisingly sharp turn for the worse this month as the bloc’s dominant services industry contracted and manufacturing sank deeper into recession.
Kazakhstan’s largest oilfield, Tengiz, is scheduled to return to full production in early December, Russian news agency Interfax reported on Friday, while elsewhere Kazakhstan’s energy ministry said it plans to produce 90 million tonnes of oil in 2025, up from 88 million tonnes in 2024.
Both contracts are set for gains of nearly 4 percent this week, as Moscow steps up its Ukraine offensive after Britain and the United States allowed Kyiv to strike deeper into Russia with their missiles.
“The Russia-Ukraine escalation has raised geopolitical tensions beyond levels seen during the year-long conflict between Israel and Iran-backed militants,” Saxo Bank analyst Ole Hansen said on Friday.
He added that rising refinery margins and an incoming cold snap had also supported distillate refinery profit margins, and wider oil prices, this week.
The Kremlin said on Friday that a strike on Ukraine using a newly developed hypersonic ballistic missile was a message to the West that Moscow will respond harshly to any “reckless” Western actions in support of Ukraine.
Ukraine has used drones to target Russian oil infrastructure, for instance in June, when it used long-range attack drones to strike four Russian refineries.
“What the market fears is accidental destruction in any part of oil, gas and refining that not only causes long-term damage but accelerates a war spiral,” said PVM analyst John Evans.
Also supporting prices this week, China announced policy measures on Thursday to boost trade, including support for energy product imports, amid worries over US President-elect Donald Trump’s threats to impose tariffs.
China’s crude oil imports are set to rebound in November, according to analysts, traders and ship tracking data.
