RIYADH: Saudi Arabia possesses some of the healthiest coral reefs in the Red Sea, and is committed to preserving and restoring them, the Kingdom’s Deputy Minister of Environment, Water and Agriculture, Dr. Osama Faqeeha, said.
His remarks came during the inaugural meeting of the governance committee of the Global Coral Reef Research and Development Accelerator Platform, which has been announced following a meeting of the initiative’s founding committee, which comprised 16 member states of the G20 in addition to the EU countries.
During the meeting, Faqeeha was elected inaugural chairman of the platform’s governance committee, while Jennifer Koss, director of the Coral Reef Conservation Program of the US National Oceanic and Atmospheric Administration, was elected vice president.
Faqeeha said: “We welcome the Global Coral Reef Research and Development Accelerator Platform, which was announced by G20 leaders with the aim of improving coral conservation operations around the world and restoring them with a set of superior scientific and technical methodologies, and as a much-needed international collaborative effort to secure the future of coral life.”
He said that “the emergence of vaccines to protect against COVID-19 in record time is a testament to the effectiveness of concerted international scientific efforts to confront global challenges. This is what we hope to achieve in this platform, to confront the deterioration of coral reefs and the possibility of their permanent extinction from the world’s seas and oceans.”
Koss, said: “The US was pleased when the Kingdom drew our attention, during its recent presidency of the G20, to the urgent need to allocate greater resources and employ more innovative technologies in order to conserve global coral.”
She added: “This platform provides a unique opportunity to bring together the world’s scientific and coral management experts to complement current coral research and continue efforts to protect them, at a time when we are defining the future of our coral reefs, which are the basis for countless services that we cannot afford to lose in our ecosystem.”
The platform will accelerate research and development of coral reefs, and promote the next generation of science and technology needed to secure a future for reefs in combatting climate change and other pressures.
The research program will engage a global multidisciplinary community of scientists, coastal managers, technologists and innovators, guided by a strategic plan and objectives proposed by the platform’s scientific and advisory committee.
The platform will also connect existing national, regional and international research and development programs, engage the private sector in supporting these efforts, provide advanced research training to scientists from all countries and will facilitate access to scientific information and research and testing facilities around the world.
It will then provide the resulting new technologies and sciences, and allow them to support efforts on the ground to conserve and restore coral reefs.
The platform has designated King Abdullah University of Science and Technology (KAUST) to serve as a central meeting point for the platform and program management, in recognition of its proven track record in coral reef research, its proven capacity for global research collaboration, its management of proposals from scientific institutions around the world, and its state-of-the-art laboratories for coral reef research and world-class facilities to host international conferences and meetings. The university will support the center’s operations at no cost to the G20, as an extension of its strong commitment to saving the world’s coral reef ecosystems.
KAUST President Tony Chan said: “Since its establishment, coral reef research in the Red Sea has been one of the university’s focus and strengths, so this global effort motivates and inspires us, as we offered to be a central meeting point for the platform to direct the necessary resources, talents and efficient ideas to achieve the platform’s goals and protect disturbed coral ecosystems around the world.”
Carlos Duarte, professor of marine science at KAUST and acting executive director of the platform, called for the need “to act as custodians of our planet — for the health of our oceans, and for future generations.”
Saudi Arabia ‘working to safeguard the future of world’s coral reefs’
https://arab.news/jth3q
Saudi Arabia ‘working to safeguard the future of world’s coral reefs’
- The Kingdom possesses some of the healthiest coral reefs in the Red Sea
- The platform will promote the next generation of science and technology needed to secure a future for reefs in combatting climate change and other pressures
Bashar Assad poisoned in Moscow: Report
- Ousted Syrian dictator requested medical help then began to ‘cough violently and choke’
- ‘There is every reason to believe an assassination attempt was made’
LONDON: An assassination attempt by poisoning has been made on former Syrian dictator Bashar Assad, The Sun reported.
The ousted leader reportedly fell ill on Sunday in Moscow, where he has resided since fleeing Syria in early December.
Assad, 59, requested medical help then began to “cough violently and choke,” according to online account General SVR, which is believed to be run by a former top spy in Russia.
“There is every reason to believe an assassination attempt was made,” it added.
Assad was treated in his apartment, and his condition is said to have stabilized by Monday. He was confirmed to have been poisoned by medical testing, the account said, without citing direct sources.
There has been no confirmation of the event from the Russian government.
Saudi Arabia closes $2.5 billion Shariah-compliant credit facility for budget financing
RIYADH: The National Debt Management Center has announced the successful arrangement of a Shariah-compliant revolving credit facility valued at SR9.4 billion ($2.5 billion).
This three-year facility is intended to support the Kingdom’s general budgetary requirements and was secured with the participation of three regional and international financial institutions.
This credit arrangement is in line with Saudi Arabia’s medium-term public debt strategy. It aims to diversify funding sources to meet financing needs at competitive terms, while adhering to robust risk management frameworks and the approved annual borrowing plan.
In November, Saudi Arabia approved its state budget for the fiscal year 2025, with projected revenues of SR1.18 trillion and expenditures totaling SR1.28 trillion, resulting in a deficit of SR101 billion.
The Finance Ministry forecasts a robust 4.6 percent growth in the Kingdom's real gross domestic product for 2025, a significant increase from the 0.8 percent growth expected in 2024. This growth is anticipated to be driven by a rise in activities within the non-oil sector, according to the ministry’s statement.
Saudi Arabia’s total debt is projected to reach SR1.3 trillion in 2025, or 29.9 percent of GDP, which is considered a sustainable level to meet the country’s financing needs.
Revised projections for the 2024 budget indicate a deficit of SR115 billion, with total debt expected to rise to SR1.2 trillion, or 29.3 percent of GDP.
The 2025 budget places a strong emphasis on maintaining essential services for citizens and residents while increasing investment in key projects and sectors. The government's focus remains on preserving fiscal stability, ensuring long-term sustainability, and managing reserves effectively. By maintaining manageable debt levels, Saudi Arabia aims to safeguard its resilience against unforeseen economic challenges.
Ministry of Culture launches crafts hackathon as part of Year of Handicrafts
- Registration open until Jan. 31
RIYADH: The Saudi Ministry of Culture has launched a crafts hackathon to bring together creators and innovators from diverse fields.
The event aims to generate innovative solutions for various aspects of the handicrafts sector, including marketing, design and production, the Saudi Press Agency reported on Thursday.
It aligns with the broader objectives of the Year of Handicrafts 2025.
The Ministry of Culture annually celebrates a distinctive Saudi cultural element, highlighting and celebrating it through projects and events.
The year 2025 has been designated as the Year of Handicrafts to solidify the position of handicrafts as authentic cultural heritage while promoting the practice, preservation and documentation of the craft, as well as its presence in contemporary life.
Registration for the hackathon is open until Jan. 31.
The selection of qualified participants will begin in early February, followed by a two-day training camp on Feb. 14-15.
It targets a diverse range of participants, including artisans, designers, developers and programmers. Teams must consist of at least three and no more than five members.
All participants must be at least 18 years old.
Handicrafts have long held a special place in Saudi Arabia’s cultural fabric, representing a prosperous heritage passed down through generations.
Throughout 2025, the ministry will organize an array of events, exhibitions, educational programs and competitions under the banner Year of Handicrafts.
Closing Bell: Saudi Arabia’s TASI closes in green at 12,103
- MSCI Tadawul Index also increased by 2.55 points, or 0.17%, to close at 1,517.16
- Parallel market Nomu gained 11.83 points, or 0.04%, to close at 31,005.69 points
RIYADH: Saudi Arabia’s Tadawul All Share Index concluded Thursday’s trading session at 12,102.55 points, marking an increase of 25.24 points, or 0.21 percent.
The total trading turnover of the benchmark index was SR5.55 billion ($1.47 billion), as 99 of the listed stocks advanced, while 131 retreated.
The MSCI Tadawul Index also increased by 2.55 points, or 0.17 percent, to close at 1,517.16.
The Kingdom’s parallel market Nomu reported increases, gaining 11.83 points, or 0.04 percent, to close at 31,005.69 points. This comes as 39 of the listed stocks advanced while as many as 43 retreated.
The index’s top performer, Tihama Advertising and Public Relations Co., saw a 9.91 percent increase in its share price to close at SR16.86.
Other top performers included Zamil Industrial Investment Co., which saw an 8.01 percent increase to reach SR35.05, while Al Yamamah Steel Industries Co.’s share price rose by 5.42 percent to SR36.
AYYAN Investment Co. also recorded a positive trajectory, with share prices rising 4.99 percent to reach SR16. Fawaz Abdulaziz Alhokair Co. witnessed positive gains, with 4.49 percent reaching SR14.44.
Arabian Cement Co. was TASI’s weakest performer, with its share price falling 5.81 percent to SR14.88.
Riyadh Cement Co. followed with a 5.45 percent drop to SR30.35. Yamama Cement Co. also saw a notable decline of 5.26 percent to settle at SR33.35.
Umm Al-Qura Cement Co. dropped 3.55 percent to SR17.94, while Methanol Chemicals Co. declined 3.03 percent to SR17.94, ranking among the top five decliners.
In the parallel market Nomu, View United Real Estate Development Co. was the top gainer, with its share price surging by 22.64 percent to SR9.10.
Other top gainers in the parallel market included Mulkia Investment Co., up 8.25 percent to SR40, and Enma AlRawabi Co., rising 6.67 percent to SR23.68.
Naas Petrol Factory Co. and Meyar Co. were the other top gainers on the parallel market.
Al-Modawat Specialized Medical Co. saw the largest decline on Nomu, with its share price slipping 8.05 percent to SR16.
Naseej for Technology Co. fell 7.14 percent to SR65, while Saudi Azm for Communication and Information Technology Co. dropped 6.18 percent to SR28.10, ranking among the notable decliners on Nomu.
On the announcement front, Al-Jouf Agricultural Development Co. said it has entered into a SR200 million Shariah-compliant bank facilities agreement with Banque Saudi Fransi to finance the company’s expansion plans and operational activities.
Its share price closed at SR64.50, reflecting a 1.2 percent gain.
Saudi Basic Industries Corp., or SABIC, announced that its Saudi affiliates have received official notification of increased feedstock prices, which is expected to affect the company’s production costs.
SABIC’s shares closed at SR67.30, marking a decline of 0.59 percent.
Sahara International Petrochemical Co., also known as Sipchem, received a notice from Saudi Aramco amending certain feedstock prices, effective Jan. 1. The financial impact is expected to result in a 2 percent increase in the total cost of sales, starting in the first quarter of the 2025 fiscal year.
Sipchem’s shares ended the day at SR24.66, down 2.43 percent.
National Agricultural Development Co., or NADEC, received a notification regarding an adjustment in fuel prices for its operational activities. The financial impact is estimated to result in a 1.5 percent increase in operating costs, to be reflected starting in the first quarter of fiscal year 2025.
This change is expected to moderately raise production costs. NADEC’s shares closed at SR24.52, marking a 1.55 percent increase.
Sri Lanka launches nationwide program to become ‘cleanest country in Asia’
- ‘Clean Sri Lanka’ initiative aims to help ‘lift the nation,’ along with digitalization, poverty eradication
- New government wants to usher in ‘transformative change’ for the country in 2025, president says
COLOMBO: Sri Lanka's new government has launched a nationwide project aiming to make it the cleanest country in Asia and enforce the principles of environmental justice.
President Anura Kumara Dissanayake kicked off the “Clean Sri Lanka” initiative on New Year’s Day, saying it would be focused on restoring the island nation’s environmental system.
Dissanayake, during a launching ceremony at the presidential secretariat in Colombo on Wednesday, said: “This endeavor goes beyond merely cleaning up the environment.
“It aspires to restore the deeply eroded and deteriorated social and environmental fabric of our motherland. We aim to create cleanliness and rejuvenation across all sectors of society.”
He added: “Every citizen must take responsibility for fulfilling their respective duties to ensure the success of this collective vision.”
The program is one of the main priorities of his administration, alongside poverty eradication and digital transformation.
Dissanayake assumed the top job in September and further consolidated his grip on power after his National People’s Power alliance won a majority in the legislature in November.
He is leading Sri Lanka as the nation continues to reel from the 2022 economic crisis — its worst since independence in 1948.
“Our firm resolution is to usher in transformative change for our country this year,” he said. “This year marks the start of a new political culture in our country, as we lay the necessary foundations for its development.”
The “Clean Sri Lanka” program is a part of efforts that will be overseen by an 18-member task force.
When Dissanayake announced the initiative last month, he said it aimed “to make Sri Lanka the cleanest country in the Asian region.”
The “Clean Sri Lanka” official website says it aims to engage communities to keep public spaces safe and clean, streamline waste disposal across the country and ensure that its world-famous beaches are clean.
It also seeks to fight corruption, promote accessible infrastructure for people with disabilities, improve air and water quality, and reduce the nation’s carbon footprint.
“If we do not make ours a cleaner country, our roads to be safer, how can we expect to develop tourism? Unless we make our public spaces disabled-friendly, how can we get them involved in the economy,” it stated, adding that the initiative was crucial to help Sri Lanka rebuild its battered economy.
Sri Lanka’s poor waste management was under global spotlight in 2022 when several elephants — which are endangered in the country — were found dead after consuming plastic in an open landfill in the eastern village of Pallakkadu.
The nation of 22 million people generates more than 1.5 million tonnes of plastic waste annually but recycles only 3 percent, compared to the world average of 7.2 percent.
