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QUOTED
“This [conference of the parties to the UN convention on combating desertification to be held in Riyadh in December] is about land degradation, land preservation and drought. It’s very important for water security, food security, biodiversity, and human community. We need to go back to basics and remind the world of this connection we all have with the land. Desertification tells us that we have not exercised good land management.” Osama Faqeeha, Deputy Minister of Environment and Water, Degradation of land is threat to human life, Saudi government says, [The Guardian]
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TOP STORY
Reportedly for the first time in memory, it has snowed in Saudi Arabia’s northern Al-Jouf region following an intense period rain and hail. [more]
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MORE TOP STORYLINES
Via Natasha Turak in cnbc.com: Saudi state oil giant Aramco reported a 15.4% drop in net profit in the third-quarter on the back of “lower crude oil prices and weakening refining margins,” but maintained a 31.05 billion dividend. The company reported net income of $27.56 billion in the July-September period, topping a company-provided estimate of $26.9 billion. The print is also a 5% drop from the previous quarter, which came in at $29.1 billion, as lower global oil prices, weaker demand and prolonged OPEC+ production cuts led by Saudi Arabia continue to impact crude prices.
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Via Kristian Coates Ulrichsen in agsiw.org: For officials in the Gulf states, such heavy investment in diplomatic initiatives reflects (and supports) the focus on economic growth, rather than political confrontation, and an emphasis on “de-risking” regional dynamics that might jeopardize the major projects underway across the region. This is especially the case in Saudi Arabia, where several of the gigaprojects so closely associated with Vision 2030 move into delivery phases, but also in Qatar, where the search for a post-2022 World Cup bounce continues, and other states, such as the United Arab Emirates and Oman, as they begin to navigate global energy transitions. There is no appetite for a renewed standoff with Iran amid a pragmatic management of the threat posed by regional affiliates of the “axis of resistance,” as evidenced by the Gulf states’ careful avoidance of any role in the airstrikes led by the United States and United Kingdom against Houthi positions in Yemen that began in January.
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Via Barak Ravid in axios.com: The U.S. and Saudi Arabia are discussing a possible security agreement that wouldnt involve a broader deal with Israel, according to three sources with knowledge of the talks. The agreement wouldnt be the full defense treaty the U.S. and Saudi Arabia were discussing but Saudi Crown Prince Mohammed Bin Salman (MBS) and the White House still want to reach a security agreement before President Biden leaves office in January. Saudi national security adviser Musaad bin Mohammed al-Aiban visited the White House last week and met with his U.S. counterpart Jake Sullivan and with Biden advisers Brett McGurk and Amos Hochstein, the sources said. The idea is to draft a bilateral U.S.-Saudi security agreement similar to those the Biden administration signed with other Gulf countries in recent years, which strengthened the U.S. position in the region, the source said.
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MORE ON THE KINGDOM AND BEYOND
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The study mapped 910 sponsorships in different sports and 1,412 positions in 207 Saudi entities, noting that the kingdom has significantly expanded its web of...[By Ed Dixon via sportspro.com]
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TotalEnergies will build an 0.3 gigawatt (GW) solar park in Saudi Arabia, while EDF Renewables will build...[By America Hernandez via reuters.com]
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The MoU outlines a roadmap to assess the deployment of new DAC systems in the Kingdom, focusing on availability of natural resources including subsurface CO₂...[via climeworks.com]
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The World Bank Group–Saudi Arabia Knowledge Hub (K-Hub) will serve as a platform for knowledge generation and exchange to drive greater development impact for countries....[via worldbank.org]
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Saudi Arabia today is synonymous with megaprojects. Since the launch of the Vision 2030 reform agenda, the Kingdom has rolled out a range of major...[By Zeina Zbibo via arabnews.com]
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Saudi Arabia unveiled five new initiatives, valued at $60 million (SR 225 million), reinforcing the Kingdom's leading role on climate and environment efforts. The initiatives were...[via saudigazette.com]
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A separate power purchase agreement for the Kingdom’s Al Masa’a solar power plant project was signed between the Saudi Power Procurement Company (SPPC), French state-owned...[via alarabiya.net]
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Crown Prince and Prime Minister Mohammed bin Salman inaugurated the “One Water Summit” in Riyadh on Tuesday evening in the presence of several presidents and...[via argaam.com]
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As FIFA approaches its December 11 vote to appoint the 2034 World Cup host, the football association is once again under fire for allegedly...[By Dario Sabaghi via law.com]
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Efforts to integrate carbon capture and utilisation (CCU) technologies into construction in Saudi Arabia’s futuristic Neom city have taken a major step forward as CarbonCure...[By Anthony Wright via gasworld.com]
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Saudi Arabia accounts for nearly 75 percent of Middle East investment in climate technology start-ups worldwide, according to a 2023 report by auditor PwC. But its...[via phys.org]
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Saudi Arabia’s Neo Space Group (NSG) is making an acquisition in the Earth observation space, acquiring UP42 from Airbus Defence and Space. Terms of the deal were not disclosed in...[By Rachel Jewett via satellitetoday.com]
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The development of electric vehicle (EV) infrastructure presents a promising pathway to reduce transportation emissions, particularly when integrated with low-carbon...[By Ryan Alyamani and Thomas Gertin via kapsarc.org]
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In October 2023, FIFA made a surprising move that effectively set the stage for Saudi Arabia’s bid to host a future FIFA World Cup...[via playthegame.org]
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Saudi Aramco is not only the largest oil producer globally but also the most profitable business, surpassing tech giants like Apple and...[By John Calabrese via agsiw.org]
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During a three-day official state visit focused on boosting business ties, Mr Macron told a Saudi-French business forum in Riyadh that one of...[By Sunniva Rose via thenationalnews.com]
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French President Emmanuel Macron announced on Tuesday, December 3, that he and Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, would...[via lemonde.fr]
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More Saudi commercial deals are expected after the 2034 World Cup decision, either for the 2026 edition being played in North America or the revamped...[By Graham Dunbar via apnews.com]
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Israel's effective use of air-launched ballistic missiles in its airstrikes against Iran is expected to pique interest...[By Gerry Doyle via reuters.com]
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The announcement marked the first time since the war began on October 8, 2023, that the Egyptian president had publicly proposed a ceasefire plan. Egypt has—alongside...[By Shahira Amin via atlanticcouncil.org]
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Analysts, however, quickly refuted these claims, citing that Iranian state media had reported nothing to suggest these rumors were true. Houthi later proved he was...[By Emily Milliken and Caitlin Miller Hollingsworth via atlanticcouncil.org]
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