Youth empowerment takes center stage at COP16   

Youth empowerment takes center stage at COP16   
Among the most pressing topics discussed at COP16 is the need to give young people a seat at the decision-making table. AN Photo
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Updated 06 December 2024
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Youth empowerment takes center stage at COP16   

Youth empowerment takes center stage at COP16   
  • COP16 has highlighted innovative youth-led initiatives and addressed the systemic challenges faced by young leaders in advancing sustainable land management
  • COP16 has also provided a platform for young leaders from across the globe to share their solutions to land degradation

RIYADH: Youth empowerment has emerged as a focal point at the UN Convention to Combat Desertification conference.

COP16 has highlighted innovative youth-led initiatives and addressed the systemic challenges faced by young leaders in advancing sustainable land management. 

The conference, which began on Dec. 2, aligns with Saudi Arabia’s Vision 2030 and the Kingdom’s commitment to engaging its youth in tackling climate challenges. Key discussions have underscored the importance of integrating young voices into policy-making and decision-making processes. 

Catalysts for change 

Among the most pressing topics discussed at COP16 is the need to give young people a seat at the decision-making table.

Speaking during the lead-up to the conference, Catarina Lorenzo, a 16-year-old youth climate champion, made a passionate case for including younger generations in the shaping of solutions to the environmental crises they will inherit.

“When we bring children to the table, we also bring the voice of nature,” she explained. “Effective actions have to be made now. We want to join in the negotiation spaces, and beyond that we want to be taken seriously.” 

This urgency was echoed by Jorge Leyva of the International Forestry Students’ Association, who said that while young voices were increasingly visible at global forums, their influence on actual policy decisions remained limited.

“We are the next generation, and we are not going to wait,” he said. “If we don’t have a seat at the table now, how will we know what comes next?” Leyva emphasized the frustration felt by many young leaders, who are often relegated to observation roles rather than being involved in substantive discussions. 

Youth empowerment 

As COP16’s host nation, Saudi Arabia has highlighted its commitment to empowering young people through initiatives such as the Green Saudi Initiative, which have mobilized thousands of young Saudis in afforestation and land restoration projects. 

“Saudi Arabia is leading by example in integrating young people into the heart of its sustainability efforts,” said Ibrahim Thiaw, executive secretary of the UNCCD. “Empowering youth is essential for achieving sustainable land management. Their voices bring fresh perspectives and the drive to innovate that is indispensable for addressing the challenges we face today.” 

Among the initiatives highlighted was a project by young Saudis that uses drones to plant seeds in degraded areas, blending technology with traditional land restoration techniques.  

Youth-led initiatives  

COP16 has also provided a platform for young leaders from across the globe to share their solutions to land degradation.

Lorenzo highlighted the unique knowledge children and youth bring to the discussion. “Children are often the most vulnerable to the impacts of climate change, from floods to loss of education opportunities,” she explained. “We are the best people to talk about the impact we receive and what our communities need.” 

These perspectives are not only vital but also often transformative. From using social media to raise awareness about local environmental challenges to leveraging indigenous knowledge in land management, youth-led projects have demonstrated the power of combining grassroots activism with innovative technologies. 

Despite the successes, COP16 participants have pointed out significant barriers to youth involvement. Lorenzo highlighted the lack of financial support for youth-led projects, noting that only 2 percent of global philanthropic funding directly benefited children and youth.

“This needs to change,” she said. 

Leyva added that young leaders often felt dismissed by older decision-makers: “They think that because we are students or maybe so young, we don’t have the knowledge to contribute. But we have a different perspective — one rooted in today’s realities and challenges, which older generations may not fully grasp.” 

To address these gaps, COP16 has introduced measures to boost youth participation, including mentorship programs to develop technical expertise in sustainable land management and commitments to integrate youth perspectives into policy frameworks. 

International collaboration  

The conference has also facilitated cross-border knowledge sharing, with young representatives from Africa, Asia and Latin America discussing their approaches to combating land degradation. 

Delegates from Burkina Faso, for example, shared how combining traditional agricultural practices with modern tools has helped build drought resilience. 

“When we share our experiences and knowledge across borders, we create a stronger foundation for sustainable action,” said one delegate. 

Driving tangible outcomes

In addition to its national programs, Saudi Arabia has taken a leadership role in the region by promoting youth engagement in environmental sustainability. The Kingdom’s National Afforestation Project, which aims to plant 10 billion trees, has actively involved young people in both planning and implementation. 

Saudi youth delegates expressed pride in their country’s efforts and, as COP16 progresses, the focus on youth empowerment remains a key theme. For young leaders like Lorenzo and Leyva, the event represents a vital opportunity to amplify their voices and push for tangible outcomes. However, they emphasize that their participation must lead to action, not just recognition. 

“Negotiators clap for our speeches,” Lorenzo noted, “but when it comes time to create resolutions, our input is often overlooked. That has to change.”  

By providing a platform for young leaders to connect with global stakeholders and share their ideas, COP16 has taken an important step toward fostering intergenerational collaboration. 

While significant challenges remain, the initiatives and discussions shown so far demonstrate a clear path toward building a more resilient and sustainable world — led, in part, by the energy and creativity of youth. 


Trump says US to levy 100% tariff on imported chips, but some firms exempt

Trump says US to levy 100% tariff on imported chips, but some firms exempt
Updated 5 sec ago
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Trump says US to levy 100% tariff on imported chips, but some firms exempt

Trump says US to levy 100% tariff on imported chips, but some firms exempt

WASHINGTON: President Donald Trump said the US will impose a tariff of about 100 percent on imports of semiconductors but offered up a big exemption — it will not apply to companies that are manufacturing in the US or have committed to do so.

The move is part of Trump’s efforts to bring manufacturing back to the US, and his remarks on Wednesday were made in tandem with an announcement that Apple would be investing an additional $100 billion in its home market.

For companies like Apple, which have committed to build in the US, “there will be no charge,” he told reporters in the Oval Office.

He warned, however, that companies should not try to wrangle out of pledges to build US factories.

“If, for some reason, you say you’re building and you don’t build, then we go back and we add it up, it accumulates, and we charge you at a later date, you have to pay, and that’s a guarantee,” Trump added.

The comments were, however, not a formal tariff announcement, and much remains unclear about how companies and countries around the world will be impacted.

Trump’s mention of the proposed 100 percent rate for chips came in just ahead of US levies of 10 percent to 50 percent kicking in on Thursday for many goods from dozens of trading partners.

Rates on semiconductors and other key tech goods have been the subject of a US national security probe — the results of which are expected to be announced by mid-August.

Trump’s Wednesday remarks produced an immediate flurry of reactions from concerned countries and business lobbies.

South Korea’s top trade envoy said on Thursday that major chipmakers Samsung Electronics and SK Hynix will not be subject to 100 percent tariffs, and South Korea will have the most favorable levies on semiconductors under a trade deal between Washington and Seoul.

Samsung and SK Hynix declined to comment.

On the other end of the spectrum, the president of the Philippine semiconductor industry, Dan Lachica, said Trump’s plan would be “devastating” for his country.

In Malaysia, which is a big player in chip testing and packaging globally, trade minister Tengku Zafrul Aziz warned parliament his country “will risk losing a major market in the United States if its products become less competitive as a result of the imposition of these tariffs.”

Survival of the biggest

Taiwan’s National Development Council Minister Liu Chin-ching told reporters on Thursday that Taiwanese companies have been building US plants or buying US firms with local factories as well as collaborating with US chipmakers to counter potential chip tariffs.

Taiwanese chip contract manufacturer TSMC is expected to be relatively unscathed as it has US factories, so key customers such as Nvidia are unlikely to face increased tariff costs for US-made chips.

Nvidia, which makes cutting-edge AI graphics processing units, also plans to invest hundreds of billions of dollars in the US TSMC did not immediately reply to a request for comment, and an Nvidia spokesperson declined to comment.

“Large, cash-rich companies that can afford to build in America will be the ones to benefit the most. It’s survival of the biggest,” said Brian Jacobsen, chief economist at investment advisory firm Annex Wealth Management.

Congress created a $52.7 billion semiconductor manufacturing and research subsidy program in 2022. The Commerce Department under President Joe Biden last year convinced all five leading-edge semiconductor firms to locate chip factories in the US as part of the program.

The department said the US last year produced about 12 percent of semiconductor chips globally, down from 40 percent in 1990.

“There’s so much serious investment in the United States in chip production that much of the sector will be exempt,” said Martin Chorzempa, senior fellow at the Peterson Institute for International Economics.

He added that chips made by China’s SMIC or Huawei are unlikely to be exempt, but noted that chips from these companies entering the US market were mostly incorporated into devices assembled in China.

“If these tariffs were applied without a component tariff, it might not make much difference,” he said.

The EU has said it agreed to a single 15 percent tariff rate for the vast majority of EU exports, including cars, chips and pharmaceuticals. Japan has said that the US agreed not to give it a worse tariff rate than other countries on chips.

Shares in Asian chipmakers with big US investment plans climbed on Thursday, with TSMC and Samsung up 4.4 percent and 2 percent respectively. Silicon wafer producer GlobalWafers, which has a plant in Texas, jumped 10 percent.

GlobalWafers said it has proactively implemented cost reduction strategies and believes it has an opportunity to maintain competitiveness.


China’s exports top forecasts as shippers rush to meet tariff deadline

China’s exports top forecasts as shippers rush to meet tariff deadline
Updated 46 sec ago
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China’s exports top forecasts as shippers rush to meet tariff deadline

China’s exports top forecasts as shippers rush to meet tariff deadline
  • Exports rose 7.2% year-on-year in July, imports grew 4.1%
  • China faces Aug. 12 deadline to reach trade deal with US

BEIJING: China’s exports beat forecasts in July, as manufacturers made the most of a fragile tariff truce between Beijing and Washington to ship goods, especially to Southeast Asia, ahead of tougher US duties targeting transhipment.

Global traders and investors are waiting to see whether the world’s two largest economies can agree on a durable trade deal by Aug. 12 or if global supply chains will again be upended by the return of import levies exceeding 100 percent.

US President Donald Trump is pursuing further tariffs, including a 40 percent duty on goods rerouted to the US via transit hubs that took effect on Thursday, as well as a 100 percent levy on chips and pharmaceutical products, and an additional 25 percent tax on goods from countries that buy Russian oil.

China’s exports rose 7.2 percent year-on-year in July, customs data showed on Thursday, beating a forecast 5.4 percent increase in a Reuters poll and accelerating from June’s 5.8 percent growth.

Imports grew 4.1 percent, defying economists’ expectations for a 1.0 percent fall and climbing from a 1.1 percent rise in June.

China’s trade war truce with the US — the world’s top consumer market — ends next week, although Trump hinted further tariffs may come Beijing’s way due to its continuing purchases of Russian hydrocarbons.

“The trade data suggests that the Southeast Asian markets play an ever more important role in US-China trade,” said Xu Tianchen, senior economist at The Economist Intelligence Unit.

“I have no doubt Trump’s transhipment tariffs are aimed at China, since it was already an issue during Trump 1.0. China is the only country for which transhipment makes sense, because it still enjoys a production cost advantage and is still subject to materially higher US tariffs than other countries,” he added.

China’s exports to the US fell 21.67 percent last month from a year earlier, the data showed, while shipments to ASEAN rose 16.59 percent over the same period.

The levies are bad news for many US trading partners, including the emerging markets in China’s periphery that have been buying raw materials and components from the regional giant and furnishing them into finished products as they seek to move up the value chain.

China’s July trade surplus narrowed to $98.24 billion from $114.77 billion in June. Separate US data on Tuesday showed the trade deficit with China shrank to its lowest in more than 21 years in June.

Despite the tariffs, markets showed optimism for a breakthrough between the two superpowers, with China and Hong Kong stocks rising in morning trade. Trump indicated earlier this week that he might meet Chinese President Xi Jinping later this year if a trade deal was reached.

TRADE UNCERTAINTY

China’s commodities imports painted a mixed picture, with soybean purchases hitting record highs in July, driven by bulk buying from Brazil while avoiding US cargoes. Analysts, however, cautioned that inventory building may have skewed the import figures, masking weaker underlying domestic demand.

“While import growth surprised on the upside in July, this may reflect inventory building for certain commodities,” said Zichun Huang, China economist at Capital Economics, pointing to similarly strong purchases of crude oil and copper.

“There was less improvement in imports of other products and shipments of iron ore continued to cool, likely reflecting the ongoing loss of momentum in the construction sector,” she added.

A protracted slowdown in China’s property sector continues to weigh on construction and broader domestic demand, as real estate remains a key store of household wealth.

Chinese government advisers are stepping up calls to make the household sector’s contribution to broader economic growth a top priority at Beijing’s upcoming five-year policy plan, as trade tensions and deflation threaten the outlook.

Reaching an agreement with the US — and with the European Union, which has accused China of producing and selling goods too cheaply — would give Chinese officials more room to advance their reform agenda.

However, analysts expect little relief from Western trade pressures. Export growth is projected to slow sharply in the second half of the year, hurt by persistently high tariffs, President Trump’s renewed crackdown on the rerouting of Chinese shipments and deteriorating relations with the EU.


Oil Updates — crude rises on US demand strength, though macroeconomic uncertainty looms

Oil Updates — crude rises on US demand strength, though macroeconomic uncertainty looms
Updated 41 min 16 sec ago
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Oil Updates — crude rises on US demand strength, though macroeconomic uncertainty looms

Oil Updates — crude rises on US demand strength, though macroeconomic uncertainty looms

LONDON: Oil prices rose on Thursday, recovering from a five-day losing streak, on signs of steady demand in the US, the world’s largest oil consumer, although concerns over the economic impact of Washington’s tariffs capped gains.

Brent crude futures was up 41 cents, or 0.6 percent, at $67.3 a barrel, as of 9:07 a.m. Saudi time.

US West Texas Intermediate crude climbed 0.6 percent to $64.76, gaining 41 cents.

Both benchmarks slid about 1 percent on Wednesday to their lowest levels in eight weeks following US President Donald Trump’s remarks on progress in talks with Moscow.

Trump could meet Russian President Vladimir Putin as soon as next week, a White House official said, though the US continued preparations to impose secondary sanctions, including potentially on China, to pressure Moscow to end the war in Ukraine.

Russia is the world’s second-biggest producer of crude after the US.

Still, oil markets found support from a bigger-than-expected draw in US crude inventories last week.

The Energy Information Administration said on Wednesday that US crude oil stockpiles fell by 3 million barrels to 423.7 million barrels in the week ended August 1, exceeding analysts’ expectations in a Reuters poll for a 591,000-barrel draw.

Inventories fell as US crude exports climbed and refinery runs climbed, with utilization on the Gulf Coast, the country’s biggest refining region, and the West Coast climbing to their highest since 2023.

Analysts at JP Morgan said in a note that global oil demand through August 5 has averaged 104.7 million barrels per day, tracking annual growth of 300,000 bpd, but 90,000 bpd below their forecast for the month.

“Despite a slightly soft start to the month, relative to our expectations, high frequency indicators of oil demand suggest global oil consumption is likely to improve sequentially over the coming weeks,” the analysts said, with jet fuel and petrochemical feedstocks anticipated to drive the consumption growth.

Meanwhile, China’s crude oil imports in July dipped 5.4 percent from June but were still up 11.5 percent year on year, with analysts expecting refining activity to remain firm in the near term.

Still, global macroeconomic uncertainty after the US ordered a fresh set of tariffs on Indian goods capped price gains.

Trump on Wednesday imposed an additional 25 percent tariff on Indian goods, citing their continued imports of Russian oil. The new import tax will go into effect 21 days after August 7.

“While these new duties (on India by the US) are set to take effect in three weeks, markets are already pricing in the downstream ripple effects on trade flows, emerging market demand, and broader energy diplomacy,” said Phillip Nova’s senior market analyst Priyanka Sachdeva.

Trump also said he could announce further tariffs on China similar to the 25 percent duties announced earlier on India over its purchases of Russian oil.

“Tariffs are likely to harm the global economy, which will ultimately affect fuel demand,” said Phillip Nova’s Sachdeva, adding that markets are overlooking the fact that its impact will still be much greater on the US economy and inflation. 


Saudi Aramco lifts crude prices for Asian buyers

Saudi Aramco lifts crude prices for Asian buyers
Updated 06 August 2025
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Saudi Aramco lifts crude prices for Asian buyers

Saudi Aramco lifts crude prices for Asian buyers

RIYADH: Saudi Aramco has increased the official selling price of its flagship Arab Light crude for Asian buyers in September.

The state-owned energy giant raised the Arab Light price by $1 per barrel from August to a premium of $3.20 over the average of Oman and Dubai crude benchmarks, according to an official statement issued on Wednesday. Prices for Arab Extra Light rose by $1.20 per barrel, while Arab Heavy gained $0.70.

In North America, Aramco set the September OSP for Arab Light at $4.20 per barrel above the Argus Sour Crude Index. The company prices its crude across five density-based grades: Super Light (above 40), Arab Extra Light (36-40), Arab Light (32-36), Arab Medium (29-32), and Arab Heavy (below 29).

Aramco’s monthly pricing decisions influence around 9 million barrels per day of crude exports to Asia and act as a benchmark for other major producers, including Iran, Kuwait, and Iraq. The adjustments are based on feedback from refiners and an assessment of crude value changes, product prices, and yields.

The price revisions come as the OPEC+ alliance agreed earlier this week to increase collective oil production by 547,000 barrels per day in September, citing improved global economic prospects and stable market fundamentals.

This move concludes the phased reversal of 2.2 million bpd in voluntary cuts introduced by eight members in 2023 to stabilize prices amid economic uncertainty.

The group reaffirmed its commitment to full compliance with the Declaration of Cooperation, with the Joint Ministerial Monitoring Committee continuing oversight.

The September hike will raise Saudi Arabia’s output to 9.97 million bpd. Russia is set to produce 9.44 million bpd, Iraq 4.22 million, and the UAE 3.37 million. Output targets for Kuwait, Kazakhstan, Algeria, and Oman are projected at 2.54 million, 1.55 million, 959,000, and 801,000 bpd, respectively.


Syria signs $14bn in investment deals, including airport and subway projects

Syria signs $14bn in investment deals, including airport and subway projects
Updated 06 August 2025
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Syria signs $14bn in investment deals, including airport and subway projects

Syria signs $14bn in investment deals, including airport and subway projects

CAIRO: Syria signed 12 investment deals worth $14 billion on Wednesday in a ceremony attended by interim President Ahmed Al-Sharaa, including infrastructure, transportation and real estate projects aimed at reviving the war-damaged economy.

The agreements included a $4 billion deal for building a new airport in Damascus signed with Qatar’s UCC holding, and a $2 billion deal to establish a subway in the Syrian capital with the UAE’s national investment corporation.

Other major developments include the $2 billion Damascus Towers project signed with Italy-based UBAKO.

In July, Syria signed $6.4 billion of investments with Saudi Arabia as it seeks to rebuild after a 14-year civil war.