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Saudi Arabia's SWCC and Brazil’s WEG to Collaborate in Electrical Engineering, Energy, and Automation

Saudi Minister of Investment Eng. Khalid Al-Falih meets with a Brazilian ministers in São Paulo, Brazil. Asharq Al-Awsat
Saudi Minister of Investment Eng. Khalid Al-Falih meets with a Brazilian ministers in São Paulo, Brazil. Asharq Al-Awsat
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Saudi Arabia's SWCC and Brazil’s WEG to Collaborate in Electrical Engineering, Energy, and Automation

Saudi Minister of Investment Eng. Khalid Al-Falih meets with a Brazilian ministers in São Paulo, Brazil. Asharq Al-Awsat
Saudi Minister of Investment Eng. Khalid Al-Falih meets with a Brazilian ministers in São Paulo, Brazil. Asharq Al-Awsat

Saline Water Conversion Corporation (SWCC) has signed a memorandum of understanding (MoU) with the Brazilian company WEG, which is specialized in electrical engineering, energy, and automation.

The MoU aims to strengthen strategic cooperation and promote collaboration between the two entities by actively exchanging expertise, studies, research, innovations, and engineering applications in water desalination and its technologies.

The MoU provides opportunities for localization and content enrichment in electrical engineering.
It also focuses on developing and enhancing the efficiency of various electrical systems, such as motors and variable frequency devices.

Moreover, it targets improving the performance of standard low-voltage motors and innovating high-efficiency electrical systems to reduce energy consumption, aligning with the latest models to promote sustainable energy efficiency.

The MoU was signed during the Brazilian-Saudi Investment Forum that was organized by the Saudi Ministry of Investment and witnessed the presence of the Brazilian Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, alongside Saudi Minister of Investment Eng. Khalid Al-Falih.

The Forum saw the presence of various prominent figures and the active participation of several government officials, CEOs of major companies, and representatives from the private sectors of both countries.

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Japan's Core Inflation Rate Slows in September

FILE PHOTO: Media members observe the stock quotation board at the Tokyo Stock Exchange in Tokyo, Japan, August 6, 2024. REUTERS/Willy Kurniawan/File Photo
FILE PHOTO: Media members observe the stock quotation board at the Tokyo Stock Exchange in Tokyo, Japan, August 6, 2024. REUTERS/Willy Kurniawan/File Photo
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Japan's Core Inflation Rate Slows in September

FILE PHOTO: Media members observe the stock quotation board at the Tokyo Stock Exchange in Tokyo, Japan, August 6, 2024. REUTERS/Willy Kurniawan/File Photo
FILE PHOTO: Media members observe the stock quotation board at the Tokyo Stock Exchange in Tokyo, Japan, August 6, 2024. REUTERS/Willy Kurniawan/File Photo

Japanese inflation slowed in September with prices up 2.4 percent on-year, not including volatile fresh food, official data showed Friday.
The core Consumer Price Index eased from 2.8 percent in August as the pace of increase in electricity and gas prices relented, the internal affairs ministry said.
Despite the slowdown, the rate remained above the Bank of Japan's two percent target, set over a decade ago as part of efforts to boost the stagnant economy, reported AFP.
The target has been surpassed every month since April 2022, although the bank has questioned to what extent that is down to temporary factors such as the Ukraine war.
"The resumption of electricity subsidies resulted in a plunge in headline inflation in September," said Marcel Thieliant, head of Asia-Pacific at Capital Economics.
Thieliant predicted a further deceleration of core inflation in October, but noted that the subsidies "should be phased out completely by December, which should lift inflation".
The Bank of Japan raised interest rates in March for the first time since 2007 and again in July, in initial steps towards normalizing its ultra-loose monetary policies.
New Prime Minister Shigeru Ishiba said this month that the environment was not right for another interest rate increase.
After Ishiba took office in early October, perceptions that he favored hiking borrowing costs and the possibility that he could raise taxes triggered a surge in the yen and stock market volatility.
One dollar bought 150 yen on Friday morning after the Japanese currency weakened from levels around 149.35 the day before.
Excluding both fresh food and energy, Japanese prices rose 2.1 percent in September.
"We expect inflation excluding fresh food and energy to remain around two percent until early next year, when it should gradually fall below two percent," Thieliant said.
"Accordingly, we still expect the Bank of Japan to press ahead with another interest rate hike before year-end."