EILAT: Israeli environmentalists are warning that a UAE-Israeli oil pipeline deal threatens unique Red Sea coral reefs and could lead to “the next ecological disaster.”
The agreement to bring Emirati crude oil by tanker to a pipeline in the Red Sea port of Eilat was signed after Israel normalized ties with the Gulf Arab nation late last year and should come into force within months.
With experts warning of possible leaks and spills at the aging Eilat port, and the Israeli environmental protection ministry demanding “urgent” talks on the deal, activists mobilized last week.
They held a protest in a parking lot overlooking Eilat’s oil jetty against what they see as a disaster waiting to happen, chanting that profits will be made “at the expense of corals.”
“The coral reefs are 200 meters (yards) from where the oil will be unloaded,” said Shmulik Taggar, an Eilat resident and founding member of the Society for Conservation of the Red Sea Environment.
“They say the tankers are modern and there won’t be any problem,” he said, warning however that “there’s no way there won’t be a malfunction.”
He predicted that with the projected arrival of two to three tankers a week, traffic will be “back-to-back.”
This, he said, would also impact the aesthetic of a city promoting ecological tourism.
“You can’t sell green tourism when you have oil tankers by the dock,” he said.
The Jewish state and the UAE established ties last year as part of the US-brokered “Abraham Accords.”
One of the deals that followed was a Memorandum of Understanding between Israel’s state-owned Europe-Asia Pipeline Company (EAPC) and a new entity called MED-RED Land Bridge Ltd. — a joint venture between Abu Dhabi’s National Holding company and several Israeli firms.
In October, EAPC announced a “binding MoU” with MED-RED to bring crude from UAE to Eilat and then transport it by pipeline to Israel’s Mediterranean city of Ashkelon for onward export to Europe.
Taggar argued that deals benefitting the fossil fuel industry at the expense of the environment are “not in the spirit of our times.”
“It might have been appropriate in the 1960s and 1970s, before we were a developed state,” he said.
Activists argue the deal evaded tough regulatory scrutiny because of EAPC’s status as a state-owned firm working in the sensitive energy sector.
While coral populations around the world are under threat from bleaching caused by climate change, the reefs in Eilat have remained stable due to their unique heat resistance.
Eilat’s coral beach reserve extends some 1.2 kilometers (almost a mile) off the city’s coast, protecting reefs that are home to a rich variety of marine life.
But their proximity to the EAPC port puts them at grave risk, Nadav Shashar, professor of marine biology at Beersheba’s Ben Gurion University, told AFP.
The infrastructure is not set up to prevent accidents and only designed “to treat pollution once it’s already in the water,” said Shashar, who is also head of marine biology and biotechnology at Eilat’s Interuniversity Institute for Marine Science.
Shashar, one of 230 experts who petitioned Prime Minister Benjamin Netanyahu against the deal, argued that with the increase of shipments, “the result will be a constant leak of oil pollution.”
After the agreement was struck in October, EAPC said it could increase oil flow through Eilat by “tens of millions of tons per year.”
Contacted by AFP, the company declined to discuss the deal’s specifics but stressed that its equipment was “state of the art” and up to international standards.
The environmental protection ministry said it had fulfilled its oversight role but also called for an “urgent discussion of all relevant governmental bodies” to review the deal.
The talks, a statement said, “would examine all angles — including the environmental ones — of increasing the volume of crude oil being transported.”
Shashar said the goal was not to close down EAPC but to “limit the extent of its use to something that can be handled.”
Some activists have voiced more militant views, including Michael Raphael of the international Extinction Rebellion movement.
Raphael, who came to the recent rally armed with a bullhorn, said he was aiming to set up an Extinction Rebellion chapter in Eilat to resist the UAE deal.
“If the problem isn’t solved, we’ll have to get in the way of things,” he said. “We don’t just demonstrate ... we disrupt the work of those who pollute.”
Red Sea coral reefs ‘under threat’ from Israel-UAE oil deal
https://arab.news/vwm6v
Red Sea coral reefs ‘under threat’ from Israel-UAE oil deal
- Activists held a protest in a parking lot overlooking Eilat’s oil jetty against what they see as a disaster waiting to happen
- Eilat’s coral beach reserve extends some 1.2 kilometers (almost a mile) off the city’s coast, protecting reefs home to rich marine life
Saudia, flyadeal rise high in Cirium’s June punctuality rankings
- Marks Saudia’s second time in 2025 leading global rankings for arrival and departure punctuality
- Achievement aligns with Kingdom’s ambition to become global aviation hub
JEDDAH: Saudia emerged as the world’s most punctual airline in June, topping global rankings for both on-time departures and arrivals, according to aviation analytics firm Cirium.
In its latest report, the London-headquartered independent aviation analytics company said that Saudia operated 16,733 flights in June, achieving a 91.33 percent on-time arrival rate and a 90.69 percent on-time departure rate — a 2.41 percent increase in arrival punctuality compared to May’s rate of 89.18 percent.
The achievement aligns with Saudi Arabia’s ambition to become a global aviation hub and a top destination for international travelers. Under Vision 2030, the Kingdom is investing heavily to boost private sector participation, expand connectivity, and reinforce its role in global aviation.
It also supports the National Aviation Strategy’s goal of enhancing the travel experience, which aims to target 330 million passengers annually, over 250 global destinations, and 4.5 million tons of air cargo by 2030.
Ibrahim Al-Omar, director general of Saudia Group, said, “Achieving exceptional on-time performance and maintaining operational excellence requires seamless coordination across all sectors and subsidiaries of the group.”
This marks Saudia’s second time in 2025 leading global rankings for both arrival and departure punctuality, following a similar achievement in March. It also mirrors the airline’s performance in June 2024, when it topped the rankings with an on-time arrival rate of 88.22 percent and a departure rate of 88.73 percent across 16,133 flights to more than 100 destinations.
Flyadeal, Saudia Group’s low-cost carrier, ranked first in the Middle East and Africa for on-time arrival performance, achieving a rate of 91.77 percent across more than 5,980 flights. The carrier’s performance surpassed that of Saudia within the region.
In a statement, Saudi Group said: “The accomplishment reflects Saudia and flyadeal’s unwavering focus in operational efficiency and excellence, achieved during the high-demand period of Hajj, summer travel, and Eid Al-Adha holidays.”
In the airport category, Cirium ranked Riyadh’s King Khalid International Airport as the world’s most punctual large airport for the same period. The travel gateway recorded a 90.41 percent on-time departure rate and an 86.99 percent on-time arrival rate, outperforming major global hubs in operational efficiency.
With 22,180 flights tracked, the Kingdom’s capital hub served 109 routes operated by 59 airlines, showcasing Saudi Arabia’s growing global connectivity and aviation excellence.
Meanwhile, Dammam’s King Fahd International Airport ranked seventh among medium-sized airports for on-time departures, achieving an 86.18 percent punctuality rate across 8,200 flights on 59 routes, according to Cirium.
Closing Bell: Saudi main index steady at 11,277; Nomu edges up
RIYADH: Saudi Arabia’s Tadawul All Share Index was steady on Thursday, as it marginally declined by 0.01 percent, or 0.82 points, to close at 11,276.91.
The total trading turnover of the benchmark index was SR4.96 billion ($1.32 billion), with 128 of the listed stocks advancing and 120 declining.
The Kingdom’s parallel market Nomu gained 31.28 points to close at 27,479.50.
The MSCI Tadawul Index marginally shed 0.02 points to 1,445.23.
The best-performing stock on the main market was SHL Finance Co. The firm’s share price increased by 9.95 percent to SR19.33.
The share price of Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, rose by 5.8 percent to SR31.38.
Sustained Infrastructure Holding Co. also saw its stock price rise by 4.24 percent to SR35.44.
Conversely, the share price of Umm Al Qura for Development and Construction Co. declined by 6.14 percent to SR25.06.
On the announcements front, Anmat Technology for Trading Co. said that it received a contract valued at SR50 million from Etihad Etisalat, also known as Mobily, to supply and install power generator systems and a fuel monitoring system.
In a press statement, Anmat said that the contract is effective from June 26 and will last until May 17, 2028.
The company added that the impact of the deal will be reflected in the firm’s financials from the second half of this year and will continue until the end of the contract duration.
The share price of Anmat, which is listed in Nomu, increased by 10.19 percent to SR12.33.
International Human Resources Co. said that it signed a framework agreement with the Arab National Bank to provide human resources services.
According to a Tadawul statement, the contract is valid for 12 months and will be renewed for a similar period unless either party notifies the other at least 30 days prior to the expiry date.
International Human Resources Co.’s share price rose by 2.83 percent to SR6.17.
Saudi Tourism Development Fund rolls out programs to boost startup growth
RIYADH: Tourism startups and entrepreneurs in Saudi Arabia stand to benefit from three newly launched support initiatives aimed at accelerating innovation, attracting investment, and strengthening the Kingdom’s growing travel economy.
The Tourism Development Fund has introduced the Grow Tourism Incubator, Tourism Hackathons and Bootcamps, and the Grow Tourism Accelerator — a suite of initiatives designed to empower early-stage ventures through TDF Grow, its non-financial enablement arm, according to a press release.
Developing a robust tourism landscape is a key pillar of Saudi Arabia’s Vision 2030 agenda, as the Kingdom works to diversify its economy and reduce its reliance on oil revenues.
The National Tourism Strategy targets 150 million annual visitors by 2030, after surpassing the 100 million milestone ahead of schedule, with official data showing the Kingdom welcomed 116 million tourists in 2024 — exceeding its annual target for the second year in a row.
Qusai bin Abdullah Al-Fakhri, CEO of TDF, said: “We remain committed to empowering entrepreneurs to transform their ideas into promising, impactful projects. We strive to provide a comprehensive support ecosystem that addresses the needs of businesses at every stage, helping them overcome challenges and accelerate their growth.”
He added: “These three programs embody our dedication to practical enablement, offering guidance, support, and connections with key stakeholders, to build a sustainable tourism sector full of opportunity and aligned with the aspirations of Saudi Vision 2030.”
The Grow Tourism Incubator Program, now in its first edition, will target early-stage tourism startups. Registration opened on June 24 and will remain open until July 17.
The incubator offers a 10-month immersive environment, providing participants with access to shared workspaces, as well as legal, marketing, and logistical support, along with technical and administrative services.
The program will also include workshops, specialized training sessions, and mentorship by leading industry experts, delivered both virtually and in person at TDF headquarters — ensuring accessibility for entrepreneurs across the Kingdom.
The Tourism Hackathons and Bootcamps program aims to support innovators and early-stage tourism projects, with a focus on three key regions: Asir, Al-Ahsa, and Madinah.
Running for five months, the program will allow participants to take part in hackathons followed by training bootcamps, helping them develop their ideas into actionable prototypes.
Registrations opened on July 1 and will remain open until July 22.
The Grow Tourism Accelerator builds on the success of previous cohorts, which have graduated 99 participants to date.
This three-month program is designed to support startups and help them scale within the tourism sector.
“The accelerator also attracts international companies, enriching the diversity of the investment landscape and elevating service quality across the industry. The program provides integrated mentorship, culminating in graduation and connections with potential investors,” the TDF release stated.
It added that the TDF Grow platform has supported 8,800 beneficiaries through its non-financial programs and initiatives, helping entrepreneurs and small and medium enterprises accelerate their projects and enhance the competitiveness of Saudi Arabia’s tourism sector.
OPEC says no peak to oil demand before 2050
- OPEC sees oil demand rising by 18.6% to around 123 mbd in 2050
- It expects demand to grow for longer than other forecasters
PARIS: The OPEC oil cartel said Thursday that demand for crude will continue to expand through at least 2050, calling efforts to rapidly shift away from fossil fuels an unworkable fantasy.
In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent from 103.7 million barrels per day in 2024 to around 123 mbd in 2050.
That rising demand will be “driven by expanding economic growth, rising populations, increasing urbanization, new energy-intensive industries like artificial intelligence, and the need to bring energy to the billions without it,” said OPEC Secretary General Haitham Al-Ghais in his foreword to the report.
“There is no peak oil demand on the horizon,” he said.
That forecast puts OPEC, which gathers together a number of the world’s leading oil exporting nations, at odds with the International Energy Agency, whose member states include many oil-consuming nations.
The IEA said last month that it expects global oil demand to begin to decline in 2030, driven by the rise of electric cars and the shift away from crude to produce power.
The IEA even sees oil demand dropping in Saudi Arabia as it replaces crude with gas and renewable energy to produce power.
Ghais said that OPEC sees growth in oil demand being primarily driven by developing nations, and that fossil fuels still account for around 80 percent of the global fuel mix, little changed from when the cartel was founded in 1960.
.”..it has become increasingly clear to many policymakers in recent years that the narrative of swiftly phasing out oil and gas has been seen for what it is: unworkable, and a fantasy,” he said.
The OPEC chief blasted many timelines to reach net-zero carbon emissions as having “little regard for energy security, affordability or feasibility.”
Experts say a rapid phase-out of fossil fuels is necessary if global warming is be kept to 1.5 degrees Celsius above preindustrial levels.
UAE and Azerbaijan sign CEPA to expand trade and investment across key sectors
RIYADH: The UAE and Azerbaijan have signed a Comprehensive Economic Partnership Agreement to strengthen bilateral trade, enhance investments, and deepen cooperation in renewable energy, logistics, tourism, and construction.
The deal is expected to contribute $680 million to the UAE’s gross domestic product and $300 million to Azerbaijan’s economy by 2031, according to the Emirates News Agency, also known as WAM.
Signed in the presence of UAE President Mohamed bin Zayed Al-Nahyan and Azerbaijani President Ilham Aliyev, the CEPA aims to enhance private sector collaboration, strengthen supply chain resilience, and promote the global expansion of small and medium-sized enterprises.
It builds on a growing trade relationship between the two countries, with non-oil trade rising 43 percent year on year to reach $2.4 billion in 2024.
The UAE is also Azerbaijan’s leading Arab investor, with cumulative investments exceeding $1 billion.
Speaking after the signing, UAE Minister of Foreign Trade Thani Al-Zeyoudi described Azerbaijan as “a hugely valuable trade and investment partner for the UAE,” citing its strategic location and continued economic growth.
“Our bilateral non-oil trade mirrors this growth, climbing 36.2 percent last year to reach $2.24 billion, which represents 50 percent of Azerbaijan’s trade with the GCC,” he said, according to WAM.
Al-Zeyoudi said the CEPA would unlock new opportunities across manufacturing, agriculture, and automotive, as well as logistics and financial services.
He also noted plans to expand UAE investments in energy and renewables through national companies such as ADNOC and Masdar, with the goal of building a joint logistics infrastructure to enhance access to broader regional and global markets.
Azerbaijan’s agreement adds to the UAE’s expanding CEPA program, a key pillar of its foreign trade agenda that targets $1.1 trillion in non-oil trade by 2031.
In 2024, the initiative contributed to a record $816 billion in non-oil trade, representing a 14.6 percent increase over the previous year.
The UAE has now concluded 27 CEPAs with global markets representing more than one-quarter of the world’s population.
The deal is part of the country’s broader strategy to advance economic diversification through strategic international partnerships, the WAM statement said.
Kuwait and Jordan strengthen ties
Kuwait and Jordan held the fifth session of their Joint Higher Committee in Kuwait City this week.
Co-chaired by Kuwaiti Foreign Minister Abdullah Al-Yahya and Jordanian Deputy Prime Minister and Minister of Foreign Affairs Ayman Safadi, the session resulted in six cooperation agreements and an executive program spanning the economic, investment, cultural, and tourism sectors, according to Kuwait News Agency.
