Most French firms ‘won’t be able to stay’ in Iran: France’s finance minister

French oil group Total has already indicated it is unlikely to stay in the country after the new sanctions announced by US President Donald Trump. (AFP)
Updated 19 June 2018
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Most French firms ‘won’t be able to stay’ in Iran: France’s finance minister

PARIS: Most French companies hoping to keep doing business in Iran after the US imposes new sanctions on the country will find it impossible to do so, Finance Minister Bruno Le Maire said Tuesday.
These companies “won’t be able to stay because they need to be paid for the products they deliver to or build in Iran, and they cannot be paid because there is no sovereign and autonomous European financial institution” capable of shielding them, Le Maire told BFM television.
The new sanctions announced by US President Donald Trump in May after he pulled out of a 2015 nuclear deal with Tehran would punish any foreign firm operating in Iran which also does business with the US or in dollars.
“Our priority is to build independent, sovereign European financial institutions which would allow financing channels between French, Italian, German, Spanish and any other countries on the planet,” Le Maire said.
“It’s up to us Europeans to choose freely and with sovereign power who we want to do business with,” he added.
“The United States should not be the planet’s economic policeman.”
Le Maire and his EU counterparts have been trying to secure exemptions for their firms, many of which rushed back into Iran after the landmark accord curtailing Tehran’s nuclear program.
But French oil group Total and carmaker PSA have already indicated they are unlikely to stay in the country, while Renault has said it will remain despite the sanctions — though it does not sell its cars in the US.
Analysts have warned it would be nearly impossible to protect multinationals from the reach of the “extraterritorial” US measures, given the exposure of large banks to the US financial system and dollar transactions.
The first round of the new sanctions, targeting Iran’s auto and civil aviation sectors, are scheduled to go into effect on August 6.


Saudi Arabia’s JEDCO, Tarshid partner to boost energy efficiency at King Abdulaziz Int’l Airport

Updated 4 min 51 sec ago
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Saudi Arabia’s JEDCO, Tarshid partner to boost energy efficiency at King Abdulaziz Int’l Airport

  • Tarshid will conduct on-site surveys and technical studies of KAIA’s targeted buildings and facilities

JEDDAH: Saudi Arabia’s King Abdulaziz International Airport is set to enhance energy efficiency and reduce emissions through a strategic partnership with the country’s National Energy Services Co., or Tarshid.

The pact between Jeddah Airports Co., or JEDCO, the airport’s operating company, and Tarshid, a Public Investment Fund company, aims to deliver sustainable energy efficiency solutions for the airport’s facilities. The partnership is facilitated through a Tarshid subsidiary and aligns with the Kingdom’s Vision 2030 and the Saudi Green Initiative.

The agreement was signed in the presence of Prince Abdulaziz bin Salman, minister of energy and chairman of Tarshid’s board of directors, according to the Saudi Press Agency.

The deal, which aims to launch innovative energy-saving initiatives and promote environmental responsibility, supports Saudi Arabia’s Civil Aviation Environmental Sustainability Program and contributes to achieving the goals of the Saudi Green Initiative and Vision 2030, which seek to improve energy efficiency and implement sustainable solutions across public and private sector facilities in the Kingdom.

The Kingdom has been developing the Civil Aviation Environmental Sustainability Plan, which seeks to mitigate the environmental impact associated with the expected growth of the country’s civil aviation sector.

The plan is crafted to align with global commitments outlined in the Paris Climate Agreement and the emission reduction targets set by the International Civil Aviation Organization.

The country has made several national-level achievements over the past years in the pursuit of it net-zero emissions goal, set for 2060. It is also pursuing new technologies to improve fuel efficiency and decarbonize the aviation sector.

Ranked among the top 100 airports globally, KAIA holds the distinction of being the third-best airport in the Middle East, according to Skytrax rankings.

Under the agreement, Tarshid will conduct on-site surveys and technical studies of KAIA’s targeted buildings and facilities, recommending optimal solutions to enhance energy efficiency and reduce consumption within the project’s scope.

Waled Abdullah Al-Ghreri, CEO of Tarshid and board member said that they are dedicated to realizing Vision 2030’s objectives of enhancing energy efficiency and sustainability in Saudi Arabia.

“Tarshid continues to strengthen its partnerships with both public and private sectors, and our collaboration with Jeddah Airports Co. is a pivotal step toward establishing new energy efficiency benchmarks in the aviation sector, reflecting a future that merges operational excellence with environmental responsibility.”

Mazen bin Mohammed Johar, CEO of JEDCO, expressed his enthusiasm for the collaboration, emphasizing that the agreement is a significant step in advancing the company’s efforts to enhance the operational efficiency of airport facilities.

Johar emphasized that the agreement aligns with the National Aviation Strategy’s goal of operating a world-class, sustainable airport with high energy efficiency standards, consistent with Vision 2030.

He highlighted KAIA’s achievements in environmental preservation, including sustainability projects such as a recycling initiative that reduces carbon emissions and achieves net-zero targets, electricity and water conservation projects utilizing solar panels and smart technologies, and air quality monitoring in collaboration with the National Center for Environmental Compliance.

He said that the airport has increased green spaces to mitigate carbon emissions.

Established in 2017, Tarshid specializes in retrofitting buildings and facilities to improve energy efficiency and sustainability across government and private sectors. The KAIA project is among its key initiatives with the private sector, aiming to encourage the aviation industry to adopt sustainable practices.

By the end of the third quarter of 2024, the company had achieved annual energy savings of 7.3 terawatt-hours across various projects, equivalent to conserving over 11.7 million barrels of oil equivalent and avoiding approximately 4.2 million metric tons of harmful emissions. These efforts equate to the environmental impact of planting more than 69.4 million seedlings annually, as per SPA.

Tarshid has recently signed a similar agreement with SAL Logistics Services, underscoring its role in advancing energy efficiency and sustainability across both governmental and private sectors. 


Saudi non-profit sector revenues surge 33% to $14.4bn in 2023

Updated 12 min 19 sec ago
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Saudi non-profit sector revenues surge 33% to $14.4bn in 2023

RIYADH: Saudi Arabia’s non-profit sector recorded revenues of SR54.4 billion ($14.4 billion) in 2023, marking a 33 percent year-on-year increase, according to data from the Saudi General Authority for Statistics.  

The sector’s total expenditures also rose by 33 percent, reaching SR47 billion, while employee compensation climbed 17 percent to SR21.7 billion. 

The health sector led the revenue surge with a 70 percent increase compared to the previous year. Education and research activities followed, growing 53 percent, while volunteer intermediary and enhancement activities rose 36 percent. Together, these areas were the largest contributors to the sector’s growth. 

Saudi Arabia’s non-profit sector has seen rapid growth, aligning with the objectives of Vision 2030. As of March 2024, the Kingdom had 4,721 registered non-profit organizations — a 182 percent increase since 2018.  

On the spending front, the health sector led with a 74 percent year-on-year rise in expenditures in 2023, followed by education and research activities with a 55 percent increase, and environmental activities, which grew by 34 percent. These categories contributed the most to the sector's overall spending.  

Employee compensation reflected similar trends, with education and research activities seeing the sharpest growth at 84 percent. Environmental activities recorded a 38 percent rise, while volunteer-related activities saw a 29 percent increase in compensation. 

In terms of workforce distribution, cultural and recreational sectors emerged as the largest employers, accounting for 27.6 percent of total employment in the non-profit sector. Social services followed at 27.2 percent, with development and housing activities comprising 12.4 percent. Health-related roles accounted for 11.5 percent, and education and research activities contributed 7.5 percent, while other non-profit activities made up the remaining 13.8 percent. 

This distribution marked a shift from 2022, where social services led at 29.7 percent, followed by cultural and recreational activities at 25.4 percent. 

This growth in the non-profit sector has raised its contribution to the gross domestic product to 0.87 percent, exceeding the 2023 target of 0.51 percent and aiming for an ambitious 5 percent by 2030. 

Additionally, the Kingdom has surpassed its target of 1 million volunteers six years ahead of schedule, achieving this milestone by the end of 2024. 


Beekeepers’ association launches green campaign

Updated 24 min 48 sec ago
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Beekeepers’ association launches green campaign

RIYADH: The Beekeepers Cooperative Association in Rijal Almaa in the Asir Region on Thursday launched an initiative to plant 1,000 sidr trees in Wadi Hiswah as part of an environmental sustainability plan aligning with the Saudi Green Initiative.

Inaugurated in 2021, the Saudi Green Initiative unites environmental protection, energy transition and sustainability programs with the overarching aims of offsetting and reducing emissions, increasing afforestation and land restoration, and supports Saudi Arabia’s ambition to reach net zero emissions by 2060.

The Beekeepers Association launched the green campaign in collaboration with the National Center for Vegetation Development and Combating Desertification, the Saudi Press Agency reported.

The chairman of the association’s board of directors, Ali bin Yahya Al-Hayani, said that this initiative aims to enhance air quality and combat climate change.

He identified the environmental benefits of the sidr tree, highlighting its resilience, its role in combating desertification, and its contribution to soil health and biodiversity.


Asian countries mark 20 years since the world’s deadliest tsunami

Updated 19 min 49 sec ago
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Asian countries mark 20 years since the world’s deadliest tsunami

  • Indonesia launched its early tsunami warning system in the aftermath of the 2004 disasters
  • Its westernmost Aceh province was the hardest-hit, with some 170,000 people killed

JAKARTA: Herman Wiharta began that Sunday morning like many 11-year-olds would on a weekend: watching cartoon shows on TV.

But at around 8 a.m., he felt the powerful tremors from a 9.1-magnitude earthquake that struck off the coast of Indonesia’s Sumatra island, which then triggered the tsunami that inundated the coastline of more than a dozen countries and killed some 230,000 people.

Wiharta, now 31, recalled his brother calling out to him to leave their house in Banda Aceh minutes after the quake and how they had attempted to run to safety. He remembered hearing people scream about the rising sea water before he himself was swept away by a giant wave.

“I lost consciousness when the wave hit me and I woke up on a roof, confused. Thankfully, my brother and sister were also on that roof,” he told Arab News.

“We were able to see just how black the water was from that spot, how strong the currents were. The water was about 4 to 5 meters high; cars and motorbikes were floating, and I could see bodies being swept away by the currents, too. It was terrifying.”

The tsunami on Dec. 26, 2004 quickly escalated into a global disaster, with some 1.7 million displaced.

The brunt of the tsunami was felt in Indonesia, where almost 170,000 people perished. The country’s westernmost province of Aceh was the hardest-hit of all, while Sri Lanka, India and Thailand were among the worst-affected countries.

“It was impossible to sleep that night. We could still hear people screaming for help and the dogs were howling. Everything was just so eerie. The disasters happened so quickly, but they were deeply traumatizing,” Wiharta said.

“It was even worse the day after. We could see bloated human and animal corpses, and the smell was just terrible. I can still picture that scene in my mind to this day.”

Across Asia on Thursday, people attended ceremonies and memorials held to mark 20 years since the deadliest tsunami in recorded history.

Coastal communities were united in grief as they also commemorated how far they had come after two decades of rebuilding and regrouping.

In Sri Lanka, where more than 35,000 people were killed, survivors and relatives gathered in the coastal village of Peraliya to remember the 1,000 victims who died when waves derailed a passenger train.

In Thailand, where half of the death toll of 5,000 were foreign tourists, commemorations were held in Ban Nam Khem, the country’s worst-hit village. People laid flowers and wreaths at a wall curved in the shape of a tsunami, which also bears plaques with the names of the victims.

In India, where around 20,000 people perished, women led the rituals held at Pattinapakkam beach in Chennai, where they lit candles and offered flowers for the victims.

In Banda Aceh city, an official ceremony held at the Baiturrahman Grand Mosque began with a three-minute-long siren at the exact time the major earthquake caused giant waves. People also gathered for prayers at the city’s mass graves — Ulee Lheue and Siron — where thousands of unidentified and unclaimed tsunami victims are buried.

In the years since, infrastructure across Aceh has been rebuilt and is now stronger to withstand major disasters. Early warning systems have also been set up in areas closer to shores, to warn residents of a potential tsunami.

Indonesia’s early tsunami warning system was launched only in 2008 in the aftermath of the disasters, said Daryono, the head of the earthquake and tsunami center at Indonesia’s meteorology, climatology and geophysical agency.

“Before the 2004 Aceh earthquake and tsunami … there were too many people who did not understand the threat, or the danger and risks of a tsunami,” Daryono told Arab News.

“But what happened in 2004 became a starting point to raise awareness on earthquake and tsunami mitigation and also to develop high-tech monitoring for earthquakes and early tsunami warning systems.”

Yet Aceh resident Wiharta was concerned with the direction of development in the province, particularly on the beaches of Aceh Besar district where many new cafes have been popping up in recent years.

“It’s important not to cut down the trees for the sake of building these cafes. It’s better to plant more trees, especially mangroves, so that they can help defend against potential tsunamis,” he said.

“I think the early warning systems also need to be fixed or reset to make sure that they are properly working for early evacuations, since many are either broken or stolen.”


Lebanon hopes for neighborly relations in first message to new Syria government

Updated 29 min 13 sec ago
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Lebanon hopes for neighborly relations in first message to new Syria government

  • Lebanon’s Iran-backed Hezbollah played a major part propping up Syria’s ousted President Bashar Assad through years of war
  • Syria’s new Islamist de-facto leader Ahmed Al-Sharaa is seeking to establish relations with Arab and Western leaders

DUBAI: Lebanon said on Thursday it was looking forward to having the best neighborly relations with Syria, in its first official message to the new administration in Damascus.
Lebanese Foreign Minister Abdallah Bou Habib passed the message to his Syrian counterpart, Asaad Hassan Al-Shibani, in a phone call, the Lebanese Foreign Ministry said on X.
Lebanon’s Iran-backed Hezbollah played a major part propping up Syria’s ousted President Bashar Assad through years of war, before bringing its fighters back to Lebanon over the last year to fight in a bruising war with Israel – a redeployment which weakened Syrian government lines.
Under Assad, Hezbollah used Syria to bring in weapons and other military equipment from Iran, through Iraq and Syria and into Lebanon. But on Dec. 6, anti-Assad fighters seized the border with Iraq and cut off that route, and two days later, Islamist militants captured the capital Damascus.
Syria’s new Islamist de-facto leader Ahmed Al-Sharaa is seeking to establish relations with Arab and Western leaders after toppling Assad.