Saudi Arabia working on coronavirus vaccine with Chinese company

In this picture taken on April 29, 2020, an engineer takes samples of monkey kidney cells as he make tests on an experimental vaccine for the COVID-19 coronavirus inside the Cells Culture Room laboratory at the Sinovac Biotech facilities in Beijing. (AFP)
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Updated 10 August 2020
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Saudi Arabia working on coronavirus vaccine with Chinese company

JEDDAH: The third phase of a COVID-19 vaccine clinical trial is to be carried out on at least 5,000 volunteers in Saudi Arabia after clearing mid-stage tests.
In an effort to expedite vaccines against coronavirus, the Ministry of Health announced its preparedness to launch the third phase in health centers across Riyadh, Makkah and Dammam. The clinical trials come as part of a ministry agreement with the Chinese vaccine developing company CanSino.
The findings of the first randomized controlled trial, published in The Lancet, resulted in the vaccine appearing to be safe and inducing a significant immune response in the majority of recipients in the second phase.
The vaccine uses a harmless cold virus, known as adenovirus type-5 (Ad5), to carry genetic material from coronavirus into the body.The volunteers will be over the age of 18.
Ministry spokesman Dr. Mohammed Al-Abd Al-Aly told a press conference on Sunday that epidemiological analysis had shown a fluctuation in confirmed coronavirus cases, with a slight increase potentially caused by social gatherings during Eid Al-Adha that did not adhere to health protocols.

“These numbers are currently at a slight increase, but they are not a cause of major concern (at the moment) for outbreaks or clusters,” the spokesman said.
Estimates of COVID-19 patients needing critical care have decreased in the past three days and the current curve shows a 5.5 percent decrease in admissions. There are currently 1,816 patients in Saudi Arabia receiving critical care.
The Kingdom recorded 1,428 new cases on Sunday, raising the total number of infections to 288,690 since the beginning of the pandemic.
There were 1,599 new recoveries, raising the total number of recoveries to 252,039. There are currently 33,484 active cases.
Saudi Arabia recorded 37 new fatalities on Sunday, raising the coronavirus death toll to  3,167.
There have been 58,424 polymerase chain reaction tests carried out in the past 24 hours, raising the total number of tests in the Kingdom to over 3.8 million.


Saudi Arabia looks to become carbon trading hub for Global South

Updated 6 sec ago
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Saudi Arabia looks to become carbon trading hub for Global South

  • Kingdom eyes partnerships with Asian companies

TOKYO: Saudi Arabia is looking to become a carbon trading hub for the Global South and is eyeing partnerships with Asian companies to trade on its exchange, Japan’s Nikkei newspaper has reported.

Saudi Arabia’s Voluntary Carbon Market recently signed a memorandum of understanding with Japanese trading house Marubeni “for collaboration on carbon markets,” and has also linked up with Climate Bridge International, a Singapore-headquartered carbon finance company, as an advisory partner.

Fadi Saadeh, acting CEO of Saudi Arabia’s Voluntary Carbon Market company, said it was important for Saudi Arabia to have a market to trade carbon credits that arise from the phasing out of coal.

A carbon credit represents a tonne of CO2 or CO2-equivalent greenhouse gases reduced or removed by verified projects like reforestation or carbon removal schemes. In the voluntary carbon market, companies can buy the credits to offset their emissions to meet their net-zero goals, while the sellers of the credits can use the funds received to invest in more green projects.

VCM was set up in 2022 by Saudi Arabia’s Public Investment Fund and the Saudi Tadawul Group, the country's exchange operator.

Saadeh said VCM was geographically well located to capture demand from the Global South and could leverage existing relationships and investments that companies like Saudi Aramco have forged over the years.

“In Saudi Arabia three years ago there were zero project developers for carbon credits,” Saadeh said. “Today, because of VCM and the ecosystem around the world, we have more than 25 project developers in Saudi Arabia.” He added that the energy transition would take time.