Saudi Arabia, Iraq stonewall COP28 efforts on fossil fuel phase-out

DUBAI: With less than 48 hours left before the UN climate summit officially comes to an end, oil producers Saudi Arabia and Iraq resisted moves to agree to a phase-out of fossil fuels, a key demand at the COP28. Over 80 countries, including the US, European Union and members of Pacific Island states threatened by rising seas have been some of the most vocal in … Continue reading Saudi Arabia, Iraq stonewall COP28 efforts on fossil fuel phase-out

Saudi Arabia, Israel moving towards ‘framework’ for deal: US

Israel and Saudi Arabia are moving towards the outline of a historic US-brokered deal to normalise relations after decades of hostility, the White House said on Friday. President Joe Biden is hoping to transform the Middle East — and score an election-year diplomatic victory — by securing recognition of the Jewish state by Saudi Arabia, the guardian of Islam’s two holiest sites. “All sides have … Continue reading Saudi Arabia, Israel moving towards ‘framework’ for deal: US

Saudi Arabia, Iran, UAE among six new entrants to BRICS

SAUDI Arabia’s Foreign Minister Faisal bin Farhan Al Saud and Iranian President Ebrahim Raisi attend the 2023 BRICS Summit in Johannesburg, on Thursday.—Reuters • Move aimed at accelerating group’s push to reshuffle ‘outdated’ world order • Entry of oil powers highlights their drift away from US JOHANNESBURG: The BRICS bloc of developing nations agreed on Thursday to admit Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and … Continue reading Saudi Arabia, Iran, UAE among six new entrants to BRICS

Saudi Arabia, Egypt ink deals worth $7.7 bln on crown prince’s visit

CAIRO: Egypt and Saudi Arabia have signed 14 agreements valued at $7.7 billion during a visit to Cairo by Saudi Arabia’s Crown Prince Mohammed bin Salman, Egypt’s General Authority for Investment and Free Zones said in a statement on Tuesday. Saudi Arabia has provided billions of dollars in financial support since Egypt’s President Abdel Fattah al-Sisi came to power, and the new round of investments … Continue reading Saudi Arabia, Egypt ink deals worth $7.7 bln on crown prince’s visit