US President
Joe Biden will embark on his farewell tour to Germany from October 10-12, where he will host the Ukraine Defense Contact Group meeting involving over 50 allies at the US air base in Ramstein. The visit, ahead of the US presidential election, includes discussions with Chancellor Olaf Scholz and President Frank-Walter Steinmeier, culminating in military talks on October 12 about supporting Ukraine amid its conflict with Russia.
In other news, a man in the UK has been arrested for an Islamophobic cyberattack on Wi-Fi networks at 19 major railway stations, including Manchester Piccadilly and several in London. The suspect, an employee of Global Reach Technology, faces charges under the Computer Misuse Act and Malicious Communications Act, though no data was compromised.
Turning to environmental issues, Saudi Arabia is calling for global unity to combat land degradation and drought at the upcoming COP16 in Riyadh this December. At the "Road to Riyadh" event, officials stressed international cooperation and highlighted initiatives like the Saudi Green Initiative to restore degraded lands.
Staying in Saudi Arabia, the nation’s banks are projected to see a profit surge by 2025, thanks to anticipated interest rate cuts and robust fiscal policies. Bloomberg Intelligence reports that Saudi banks, with their lower market exposure and conservative leverage, are well-positioned to benefit from a $2 trillion construction pipeline supporting financial stability.
Echoing their environmental commitment, Saudi Arabia reiterated the need for urgent action on land degradation and desertification ahead of the COP16 convention. During recent UN discussions, officials emphasized the importance of sustainable resource use and global initiatives, such as the G20 Global Land Initiative.
Lastly, Saudi Arabia is urging global action to tackle Sudan's escalating humanitarian crisis, with Dr. Abdullah Al Rabeeah emphasizing the country’s ongoing support and international cooperation at the UN General Assembly. Saudi Arabia has already committed over $3 billion, including significant humanitarian aid, to help stabilize Sudan amidst increasing violence in regions like Darfur.