抖阴短视频

Vision 2030 can inspire global solutions to land degradation, energy crisis

Special  Ibrahim Thiaw, executive secretary of the UN Convention to Combat Desertification, emphasized that the Kingdom鈥檚 transformative national strategy should be a global model. AN photo
Ibrahim Thiaw, executive secretary of the UN Convention to Combat Desertification, emphasized that the Kingdom鈥檚 transformative national strategy should be a global model. AN photo
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Updated 12 December 2024

Vision 2030 can inspire global solutions to land degradation, energy crisis

Vision 2030 can inspire global solutions to land degradation, energy crisis
  • UNCCD executive secretary discusses how 抖阴短视频鈥檚 strategy can lead global environmental change

RIYADH: Achieving 抖阴短视频鈥檚 Vision 2030 will require significant investment in land restoration and renewable energy, as the nation鈥檚 ambitious strategy extends beyond national goals, according to a senior executive.

In an interview with Arab News on the sidelines of COP16 in Riyadh, Ibrahim Thiaw, executive secretary of the UN Convention to Combat Desertification, emphasized that the Kingdom鈥檚 transformative national strategy should be a global model.

鈥淰ision 2030 is a national vision from 抖阴短视频. But it can only be achieved if we invest more in land restoration. It can only be achieved if we invest more in empowering communities to manage their resources,鈥 Thiaw said.

He further added: 鈥淚t is certainly an excellent vision proposed by the Kingdom of 抖阴短视频. But it goes beyond in terms of vision, in terms of ambition. It has to be implemented in many other parts of the world.鈥

Thiaw highlighted the need for innovative solutions to address global food production challenges. For example, he pointed out the importance of doubling food production by 2050 without exhausting limited resources, calling for the adoption of technologies like artificial intelligence, precision agriculture, and water-efficient systems.

He also noted that Vision 2030 stresses the importance of balancing traditional farming techniques with modern technologies to enhance soil productivity, reduce pollution, and avoid the expansion of agricultural land.

鈥湺兑醵淌悠 is already doing quite a bit in land restoration,鈥 Thiaw said, referencing efforts through institutions like the Saudi Fund for Development, which has active portfolios across Africa, Asia, and Latin America.

鈥淏ut we all need to do more,鈥 Thiaw added. 鈥淭hat will probably require that the Saudi Fund for Development, as well as other institutions where 抖阴短视频 is the main shareholder, like the Islamic Development Bank, the OPEC Fund, and many other institutions, realign their portfolios to match the ambitions of COP16.鈥

As a G20 member, Thiaw urged the Kingdom to help rally other nations to meet the G20 goal of restoring 50 percent of degraded land by 2040. The focus, he stressed, must not only be on making commitments but also on ensuring their effective implementation.

鈥湺兑醵淌悠 will be appreciated if it works with its peers from other countries, with South Africa, which is now the current presidency of G20, and then the future presidencies, as well as all members of the G20,鈥 Thiaw said.

Thiaw also emphasized the critical importance of integrating traditional methods, like underground irrigation, with modern technologies such as desalination and renewable energy to support sustainable development, especially in arid regions. These combined solutions can address challenges like water scarcity and energy demands while promoting economic growth.

鈥淭his is where you need new technologies and combine them with the traditional technologies, including the underground irrigation that has been known here for millennia, and so we can use new technologies to make additional water available,鈥 Thiaw said.

He added: 鈥淚 visited the Saudi pavilion here. I just could not believe what I saw, and from 300 megawatts just a few years back, there are now 44 gigawatts moving to 80 GW. I was stunned!鈥

Thiaw explained that 抖阴短视频鈥檚 progress demonstrates how integrating traditional and new technologies can lead the way in energy transitions, land management, and water accessibility, creating a better future for all.

Key outcomes

Thiaw outlined some of the key outcomes expected from COP16, including decisions on proactive drought resilience strategies to prepare communities, businesses, and governments for future droughts rather than simply reacting to crises.

An additional focus is scaling up commitments to restore degraded land, with a global reserve of 1.5 billion hectares of damaged land, and reversing the trend of losing fertile soil annually 鈥 an area the size of Egypt.

He stressed that financing is central to these efforts: 鈥淲e have indicated in our reports that the world needs to invest $1 billion per day. $1 billion per day needs to be invested in land restoration worldwide. Now that is a huge figure. It鈥檚 not small. This is not necessarily only public funds, but also private funds.鈥

Thiaw added: 鈥淣ot only public funds, but also private funds. The private sector must invest to sustain productivity, while harmful taxpayer-funded subsidies should be redirected toward environmentally friendly and land-friendly activities.鈥

Collaboration with 抖阴短视频

To address these pressing challenges, Thiaw expressed the UNCCD鈥檚 eagerness to collaborate with 抖阴短视频 in integrating advanced technologies with traditional practices.

鈥淥ur ambition is to help countries transition effectively, and 抖阴短视频 is uniquely positioned to lead this effort,鈥 Thiaw said, highlighting the Kingdom鈥檚 capacity, energy, and financial resources.

He added: 鈥淣ow, there is a lot of discussion at the moment under the climate negotiations to see whether we can have net zero in terms of emissions. But if you are to achieve net zero in terms of emissions, it is not only emissions coming from industry, but emissions coming from land use, because land use is the second-largest emitter.鈥

Thiaw emphasized that degrading land increases carbon emissions, whereas restoring land acts as a natural solution by capturing carbon and returning it to the soil, thus helping to mitigate climate change.

The progress showcased at the Saudi pavilion highlights how merging traditional practices with advanced technologies can pave the way for sustainable energy transitions, better land and water management, and long-term environmental and economic stability. This model serves as a benchmark for addressing resource challenges in arid regions and other vulnerable areas globally.


Global sustainable bond issuance to reach $1tn in 2025: 惭辞辞诲测鈥檚

Global sustainable bond issuance to reach $1tn in 2025: 惭辞辞诲测鈥檚
Updated 26 January 2025

Global sustainable bond issuance to reach $1tn in 2025: 惭辞辞诲测鈥檚

Global sustainable bond issuance to reach $1tn in 2025: 惭辞辞诲测鈥檚
  • Impending maturity wave is set to escalate, signifying additional refinancing requirements alongside regular issuance goals
  • 惭辞辞诲测鈥檚 said ESG risks this year will be influenced by policy decisions and financing.

RIYADH: Global sustainable bond issuance is projected to reach $1 trillion in 2025, driven by a worldwide focus on green development, according to global credit rating agency 惭辞辞诲测鈥檚.

In their latest report, the New York-based firm said that increased examination of greenwashing, changes in market norms and regulations, and a more intricate landscape, which includes political challenges in certain nations, are expected to impede growth.

This aligns with the green bond market, which has advanced a decade beyond the international treaty on climate change that was signed in 2016, known as the Paris Agreement. The market provides a boost to the sector as initial issuances are gradually approaching maturity. 

The impending maturity wave is set to escalate this year and 2026, signifying additional refinancing requirements alongside regular issuance goals, according to capital market firm AXA Investment Managers.

鈥淲e expect global sustainable bond issuance to total $1 trillion in 2025, in line with 2024. Social bonds will be constrained by a lack of benchmark-sized projects, while transition-labeled bonds and sustainability-linked bonds will remain niche segments as they navigate evolving market sentiment,鈥 惭辞辞诲测鈥檚 report said.

鈥淎 continued focus on climate mitigation financing, as well as growing interest in climate adaptation and nature, will spur green and sustainability bond issuance,鈥 it added. 鈥淢eanwhile, the widening gaps between decarbonization ambitions and implementation will be brought into focus by the contrast of fresh pledges and increasingly destructive climate events.鈥

Regarding the outlook on environmental, social, and governance factors, 惭辞辞诲测鈥檚 said the risks this year will be influenced by policy decisions and financing.

鈥淐ompanies will encounter challenges in handling environmental and social risks within their supply chains. Additionally, technological disruptions, climate change, and demographic shifts could exacerbate social risks and pose policy obstacles for governments,鈥 the agency added.

In November, 惭辞辞诲测鈥檚 said that global issuance of sustainable bonds in the third quarter of last year reached $216 billion, marking a 9 percent annual increase.

It said at the time that the year-on-year increase in green, social, sustainability, and sustainability-linked bonds came despite a quarter-on-quarter drop, with the volume issued down 14 percent in the three months to the end of September compared to the preceding period. 

For the first nine months of 2024, sustainable bond volumes reached $769 billion, marking a 3 percent decline compared to the same period last year. 

Despite the quarterly dip, 惭辞辞诲测鈥檚 forecasted that the total sustainable bond volumes will reach $950 billion in 2024 鈥渂uoyed by relatively robust volumes in the first half of the year and continued issuer appetite for funding environmental and social projects with labeled bonds.鈥


Saudi benchmark index inches up 0.26% to close at 12,386

Saudi benchmark index inches up 0.26% to close at 12,386
Updated 26 January 2025

Saudi benchmark index inches up 0.26% to close at 12,386

Saudi benchmark index inches up 0.26% to close at 12,386

RIYADH: 抖阴短视频鈥檚 Tadawul All Share Index rose on Sunday, gaining 32.12 points, or 0.26 percent, to close at 12,386.16.

The total trading turnover on the benchmark index reached SR5.11 billion ($1.36 billion), with 161 stocks advancing and 69 retreating.

The Kingdom鈥檚 parallel market, Nomu, also saw a modest gain, rising 49.70 points, or 0.16 percent, to close at 30,896.29, as 49 stocks advanced and 42 declined.

The MSCI Tadawul Index closed up by 2.01 points, or 0.13 percent, finishing at 1,545.39.

Kingdom Holding Co. emerged as the day鈥檚 top performer, with its share price surging 9.80 percent to SR10.20. Other notable performers included Al-Baha Investment and Development Co., which rose 9.30 percent to SR0.47, and Saudi Fisheries Co., whose share price jumped 7.84 percent to SR24.28.

On the downside, Al-Jouf Cement Co. recorded the largest drop, falling 3.57 percent to SR12.44. Arabian Pipes Co. also saw its stock decline by 2.50 percent, closing at SR13.26, while Rasan Information Technology Co. dropped 1.94 percent to SR90.80.

On the announcements front, Al-Baha Investment and Development Co. announced its annual financial results for the period ending Dec. 31. The company reported a net profit of SR8.37 million for 2024, a 69.48 percent increase compared to 2023. The growth was primarily driven by a 13 percent rise in revenues, a 98 percent drop in zakat provisions, a 39 percent reduction in financing costs, and a decline of SR1.18 million in investment properties.

Al-Moammar Information Systems Co. has signed a SR58.6 million contract with the Saudi Authority for Data and Artificial Intelligence to enhance the AI network through software and services.

According to a bourse filing, the 36-month deal is expected to generate positive financial impacts starting in Q1 2025. The stock closed at SR160.40, up 0.51 percent.

Al-Sagr Cooperative Insurance Co. received an Insurer Financial Strength Rating of 鈥淏BB鈥 and a National IFS Rating of 鈥淎+鈥 with a stable outlook from Fitch Ratings.

The ratings reflect Al-Sagr鈥檚 strong capitalization, solid financial performance, and well-diversified insurance portfolio, despite its moderate operating scale within the Saudi insurance market. Al-Sagr鈥檚 stock closed at SR18.10, up 3.20 percent.


Saudi-based Walaa Cooperative Insurance Co. maintains 鈥楢-鈥 rating: S&P Global

Saudi-based Walaa Cooperative Insurance Co. maintains 鈥楢-鈥 rating: S&P Global
Updated 26 January 2025

Saudi-based Walaa Cooperative Insurance Co. maintains 鈥楢-鈥 rating: S&P Global

Saudi-based Walaa Cooperative Insurance Co. maintains 鈥楢-鈥 rating: S&P Global
  • S&P expects Walaa to maintain this level of capital adequacy over the next two years
  • It also expects the company to gradually improve its combined ratio to about 98% in 2025鈥2026

RIYADH: 抖阴短视频鈥檚 Walaa Cooperative Insurance Co. maintained its 鈥淎-鈥 long-term insurer financial strength rating by S&P Global, with a stable outlook. 

The New York-based credit rating agency also affirmed its 鈥済cAAA鈥 long-term Gulf Cooperation Council regional scale rating and 鈥渒saAAA鈥 long-term Saudi national scale assessment for Walaa, highlighting the insurer鈥檚 capital position and planned business growth initiatives. 

This comes as the company completed an SR468 million ($124.8 million) rights issue in December 2024, initially announced in September 2023. 

The additional capital will support the firm鈥檚 growth strategy and enhance its regulatory solvency margin. 

S&P said Walaa鈥檚 capital adequacy exceeded its 99.99 percent confidence level before the reserve increase, with the recent capital injection further strengthening the company鈥檚 financial stability. 

The rating agency expects Walaa to maintain this level of capital adequacy over the next two years, underpinning its stable outlook. 

The firm鈥檚 stock price has already seen a significant 5.26 percent increase by 2:20 p.m. Saudi time to reach SR24. 

Despite its strong capital position, Walaa鈥檚 operating performance has lagged behind similarly rated peers, according to S&P. 

At the end of the third quarter of last year, the company ranked as the fifth largest insurer in the Kingdom, with insurance revenue reaching SR2.4 million and a growth rate of 17 percent. 

However, the insurer faced challenges in profitability, driven by its medical insurance segment.

The combined ratio 鈥 a key measure of underwriting performance 鈥 stood at 101 percent for the third quarter of 2024, compared to 98 percent during the same period the previous year. 

While the motor insurance segment, which experienced losses between 2021 and 2023, returned to profitability in 2024, reporting a service result of SR18 million for the third quarter, Walaa鈥檚 medical insurance business posted a significant loss of SR85 million during the same period. 

This marks a sharp decline from the SR4 million loss recorded in the third quarter of 2023. The company plans to expand its medical insurance segment over the next two years, aiming for breakeven by the year鈥檚 end. 

S&P said the goal may be challenging due to the competitive and concentrated nature of the medical insurance market in 抖阴短视频, which is projected to reach $4.33 billion this year, according to German online data gathering platform Statista. 

The medical segment is dominated by The Co. for Cooperative Insurance and Bupa Arabia for Cooperative Insurance, which collectively accounted for 76 percent of market revenue and most of the segment鈥檚 profitability in the third quarter of 2024, according to S&P. 

Walaa鈥檚 ability to achieve breakeven in this segment will play a critical role in the recovery of its overall performance. 

S&P expects Walaa to gradually improve its combined ratio to about 98 percent in 2025鈥 2026 as it continues to diversify its business and recover its operating performance. 

The agency also flagged potential risks, including the possibility of a negative rating action if Walaa鈥檚 underwriting performance is weaker than its local and regional peers or if its capital adequacy falls below the 99.95 percent confidence level. 

S&P views the likelihood of a rating upgrade as limited during the outlook period. Any positive rating action would depend on Walaa鈥檚 ability to significantly increase and diversify its premium income without impairing operating performance, while maintaining capital adequacy at the 99.99 percent confidence level and a low-risk investment portfolio. 


World leaders to attend Saudi Real Estate Future Forum 2025 for industry-shaping discussions

World leaders to attend Saudi Real Estate Future Forum 2025 for industry-shaping discussions
Updated 26 January 2025

World leaders to attend Saudi Real Estate Future Forum 2025 for industry-shaping discussions

World leaders to attend Saudi Real Estate Future Forum 2025 for industry-shaping discussions
  • Event will gather over 300 speakers from 85 countries to lead discussions on the direction of real estate
  • Key themes and sessions at RFF 2025 will encompass various topics, with over 30 high-level dialogue events and 25 in-depth workshops

RIYADH: The Real Estate Future Forum is set to serve as a global hub for industry leaders, policymakers, and investors as 抖阴短视频 transitions toward a diversified and innovation-driven economy.

The event will be held from Jan. 27鈥 29 at the Four Seasons Hotel in Riyadh and will gather over 300 speakers from 85 countries to lead discussions on the direction of real estate.

Under the theme 鈥淔uture for Humanity: Shaping Dreams into Reality,鈥 RFF 2025 will focus on innovations, sustainability efforts, and investment strategies reshaping the global property market.

This year鈥檚 edition will also spotlight the Middle East鈥檚 $1 trillion real estate pipeline, which is driving changes in urban development and creating new regional economic opportunities.

 

抖阴短视频 at the forefront of real estate evolution

The Kingdom鈥檚 Vision 2030 reforms have positioned the country as a leader in real estate development, combining innovation, sustainability, and economic growth. 

Forum participants will get an in-depth look at major projects, including NEOM, The Red Sea Project, and Diriyah Gate, and their economic impact and long-term sustainability.

The discussions will provide insights into how these initiatives are influencing the broader real estate landscape.

A $1 trillion opportunity for global transformation

With the Middle East witnessing an unprecedented wave of urban expansion, the real estate sector has immense opportunities and critical responsibilities.

 

This year鈥檚 forum will highlight how key stakeholders can leverage digital transformation, sustainable construction, and strategic investments to build cities that are economically viable, environmentally responsible, and socially inclusive.

Benjamin Deschietere, managing director and partner at Boston Consulting Group, underscored the urgency of sustainability in real estate development.

鈥淭he Middle East鈥檚 $1 trillion real estate pipeline offers a once-in-a-generation opportunity to rethink how we design and build our communities,鈥 he told Arab News.

鈥淲ith buildings accounting for more than one-third of global greenhouse gas emissions, decisions made today in the region鈥檚 transformative mega-projects will impact generations and have the potential to influence global standards for decades,鈥 he added.

Deschietere said that sustainability in design, the use of greener materials, and advancements in construction and procurement practices are essential rather than optional. 

He said cities built with these principles would be more resource-efficient, livable, and valuable in the long term, adding that developers who adopt these approaches would gain a significant competitive edge in the coming decades

Benjamin Deschietere, managing director and partner at Boston Consulting Group. Supplied

A holistic approach to sustainability and innovation

RFF 2025 will focus on environmental sustainability and social and economic resilience. With the Kingdom鈥檚 target of developing 1 million new housing units by 2030, the forum will discuss how sustainable urbanization can drive affordability, job creation, and social equity.

Edoardo Geraci, managing director and partner at BCG, told Arab News of the need for a paradigm shift. 鈥淭raditional real estate has often prioritized growth over sustainability, but the future demands a more holistic approach.鈥

He added that beyond reducing carbon emissions, sustainable development must also consider social outcomes, such as inclusivity, affordability, and job creation. 

鈥淧assive design principles and smart building technologies already enable a reduction of lifecycle carbon emissions by up to almost 40 percent, offering significant cost savings over time,鈥 the expert said.

Geraci also said the Middle East has a distinct chance to demonstrate how well-planned urban development can improve the quality of life, restore natural resources, and establish new standards for sustainable and resilient cities on a global scale.

Edoardo Geraci, managing director and partner at Boston Consulting Group. Supplied

RFF 2025 themes and sessions 

Key themes and sessions at this year鈥檚 forum will encompass various topics, with over 30 high-level dialogue events and 25 in-depth workshops. 

Discussions on smart cities and digital transformation will explore the role of artificial intelligence and blockchain in real estate transactions and homeownership, innovations in smart buildings and urban infrastructure, and the impact of big data on market forecasting and investment strategies. 

Sustainable real estate and green building innovations will be another focal point, addressing the shift toward net-zero developments and green architecture, sustainable financing models for eco-friendly projects, and case studies from leading sustainable cities and giga-projects. 

Real estate investment and financing trends will be examined, with insights into alternative financing models for large-scale undertakings, the impact of global economic shifts on Middle Eastern real estate markets, and future trends in institutional investment and private sector involvement. 

 

The forum will also highlight the role of giga-projects in economic growth, offering perspectives from key players behind NEOM, The Red Sea Project, and Diriyah Gate, while discussing how these developments are shaping tourism, hospitality, urban living, the intersection of real estate, entertainment, and sports infrastructure.

RFF 2025 will provide an outlook on integrating advanced technologies into the real estate sector. Panels will dive into emerging trends like virtual reality for property marketing, the role of the metaverse in digital real estate, and the use of robotics and 3D printing in construction. The implications of these technologies for efficiency, cost savings, and consumer experiences will be examined.

Another focus will be community-centered urban planning and sessions will address the importance of inclusivity and accessibility in development projects, exploring how innovative housing models and mixed-use initiatives can enhance quality of life and foster social and economic prosperity. 

The forum will also discuss sustainable procurement practices and supply chain transformation, offering insights into minimizing waste and achieving carbon neutrality in mega-projects. 

 

The three-day event is set to feature a distinguished lineup of speakers, including government officials, global investors, and media personalities who will provide valuable insights into industry-shaping trends. 

Notable speakers include Majid Al-Hogail, Saudi minister of municipalities and housing; Turki bin Talal, governor of Asir region; Saud bin Talal, governor of Al-Ahsa; former US President Bill Clinton; international media influencer Piers Morgan; and global media commentator Tucker Carlson. 

With Vision 2030 strongly supporting tourism and lifestyle projects, discussions will explore how cultural preservation and modern innovation coexist in urban developments. 

Sessions will delve into the design of projects such as New Murabba and Trojena in NEOM, examining how these ventures are redefining the Kingdom鈥檚 global image while fostering sustainable growth. 

Insights into the transformative impact of major sporting and entertainment events on real estate demand and city planning will highlight the sector鈥檚 potential to drive broader socio-economic change.

 

A platform for transformative deals and partnerships

The 2024 edition of RFF saw over 50 agreements worth SR100 billion ($26.6 billion) signed, driving investment in key real estate projects. 

The 2025 forum is expected to eclipse those numbers, offering an even greater platform for deal-making, policy announcements, and strategic partnerships.

A Glimpse into the Future

The Kingdom鈥檚 real estate sector is on the cusp of a technological and financial revolution driven by digital transformation, sustainable design, and forward-thinking policies. 

As Vision 2030 continues to guide the nation toward an economically diversified and innovation-driven future, RFF 2025 will serve as a platform for international investors, developers, and policymakers looking to tap into the region鈥檚 potential.

RFF 2025 will offer various opportunities for networking, collaboration, and sharing expertise, making it a key event in the ongoing development of the global real estate industry.


Oman鈥檚 inflation rate edges up 0.7% in December

Oman鈥檚 inflation rate edges up 0.7% in December
Updated 26 January 2025

Oman鈥檚 inflation rate edges up 0.7% in December

Oman鈥檚 inflation rate edges up 0.7% in December

RIYADH: A rise in the prices of several categories of consumer products pushed Oman鈥檚 annual inflation rate up by 0.7 percent in December compared to base year 2018, according to new data.

The rise in inflation was driven by increases in several key categories, including miscellaneous goods and services, which surged by 4.5 percent, health services by 3.2 percent, and food and non-alcoholic beverages by 1.7 percent, according to the National Center for Statistics and Information reported. 

Food and non-alcoholic beverages saw a 1.7 percent price hike, while the restaurant and hotel group rose by 0.8 percent. Other sectors, including culture and entertainment, clothing and footwear, and furniture and household maintenance, also experienced minor price increases. 

Despite this, Oman鈥檚 inflation remains among the lowest in the region, as the government has implemented measures to contain price rises. This effort has been supported by prudent fiscal policies, high oil prices, and growth in non-hydrocarbon exports. 

These factors helped the country achieve a 6.2 percent budget surplus and a 2.4 percent current account gain in 2024. 

The latest CPI data also highlighted specific price hikes in food categories. Vegetables saw a significant 7.6 percent increase, followed by milk, cheese, and eggs at 3.8 percent. 

Other food products not categorized elsewhere rose by 3.7 percent, while sugar, jam, honey, and sweets increased by 2.8 percent. Meat prices were up 2.6 percent, fruits rose by 2.2 percent, and oils and fats climbed by 1.6 percent. 

On the downside, transportation costs fell by 0.8 percent, non-alcoholic beverages dropped by 0.5 percent, and fish and seafood prices plunged by 6.3 percent. Prices in the housing, water, electricity, gas, and other fuels sectors remained stable, as did communications and tobacco prices.  

For 2025, Oman projects a modest 2.7 percent growth in gross domestic product, while IMF projections released earlier this month point to a more optimistic 3.1 percent expansion. The inflation rate has been easing in recent months, declining to 0.6 percent during the first 10 months of 2024, down from 1.0 percent in 2023.