Saudi air defenses shoot down Houthi drone

In this undated file photo, a Patriot missile is deployed at a Saudi Air Defense Forces base in Khamis Mushayt, in the southern region of Asir. (SPA/File)
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Updated 10 October 2020
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Saudi air defenses shoot down Houthi drone

  • OIC chief expresses solidarity with Saudi Arabia in all its measures to protect its territories, citizens, and residents
  • The drone was shot down early Saturday, the Saudi military said

RIYADH: An explosive-laden drone targeting the southern part of the Kingdom was intercepted and destroyed by the Arab coalition backing Yemen’s internationally recognized government on Saturday.
Coalition spokesman Col. Turki Al-Maliki said the drone was aimed at civilians and civilian facilities in the southern region.
Yemen’s Iran-backed Houthi militias have been launching missile, drone and rocket strikes targeting civilian centers in Saudi Arabia for the past few years.
The secretary-general of the Organization of Islamic Cooperation (OIC), Dr. Yousef Al-Othaimeen, condemned the attack and expressed the OIC’s solidarity with Saudi Arabia, supporting the measures it takes to protect its border, citizens and residents.
The coalition forces had intercepted another explosives-laden drone in Yemeni airspace launched by the Houthi militia on Wednesday. Al-Maliki said the launching of the drone shows how the Houthis continue their systematic attacks on civilian targets in Saudi Arabia.
He said the militants are launching ballistic missiles, drones and remotely piloted boats from Yemen’s Hodeidah governorate in violation of international humanitarian law and the Stockholm cease-fire agreement.

BACKGROUND

Saudi Arabia and its Arab allies entered the war in Yemen in 2015 against the Houthis, who drove the internationally recognized government into exile in 2014.

Pakistan’s Ministry of Foreign Affairs called for the immediate cessation of such attacks, saying the successful interception of the drone had prevented the loss of innocent lives. The statement reiterates Pakistan’s full support of the Kingdom against any threats to its security and territorial integrity.
Earlier, the US called on Houthi militants in Yemen to stop launching attacks on Saudi Arabia.
“The US remains deeply concerned by the Houthis’ aggression, supported by Iranian weapons shipments in violation of UN arms embargoes,” State Department spokeswoman Morgan Ortagus said.
“We call on the Houthis to immediately cease their cross-border attacks against Saudi Arabia and halt their attacks on the city of Marib, where nearly a million Yemenis have sought refuge since the beginning of the war.”

 


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.