Saudi Economy Ministry Signs MoU with Alfaisal University to Promote Economic Development

The signing of the agreement took place at the university's headquarters in Riyadh. SPA
The signing of the agreement took place at the university's headquarters in Riyadh. SPA
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Saudi Economy Ministry Signs MoU with Alfaisal University to Promote Economic Development

The signing of the agreement took place at the university's headquarters in Riyadh. SPA
The signing of the agreement took place at the university's headquarters in Riyadh. SPA

The Ministry of Economy and Planning and Alfaisal University signed a memorandum of understanding (MoU) to promote economic development and implement awareness programs and initiatives to serve the community, in line with achieving Saudi Vision 2030 goals.

The signing of the agreement took place at the university's headquarters in Riyadh.

The MoU was signed by Rakan bin Abdullah Al Alsheikh, Deputy Minister for Policies and Economic Planning at the Ministry of Economy and Planning, and princess Dr. Maha bint Meshari Al Saud, the Alfaisal University Vice President of External Relations and Advancement.

Under the MoU, the two parties will cooperate to promote economic development, activate academic research, implement awareness programs and initiatives to serve the community, as well as cooperate on various activities and events.

The MoU stipulates that the two sides cooperate to maximize the university’s economic return, form a network of joint opinion experts to provide feedback on various economic topics, and to exchange expertise in preparing and writing academic research and public policies in the field of economics.

The Ministry of Economy and Planning will provide consultations on the use of university resources such as student research, faculty members, and research laboratories on economic priority topics that support Saudi Vision 2030. It will offer facilities and cooperation in designing and formulating research project launch plans, and supervise a team of researchers from both sides, which will be assigned to prepare public policy studies and academic research for the Ministry.



Taiwan Holds First Tariff Talks with United States

A plane takes off above the skyline including Taipei 101 (C) in Taipei on April 11, 2025. (AFP)
A plane takes off above the skyline including Taipei 101 (C) in Taipei on April 11, 2025. (AFP)
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Taiwan Holds First Tariff Talks with United States

A plane takes off above the skyline including Taipei 101 (C) in Taipei on April 11, 2025. (AFP)
A plane takes off above the skyline including Taipei 101 (C) in Taipei on April 11, 2025. (AFP)

Taiwan officials held their first tariff talks with US officials on Friday, with both sides looking forward to further discussions soon, the island's government said on Saturday.

While Taiwan, a major semiconductor producer facing tariffs of 32%, complained they were unfair, it moved quickly to lay out proposals with the United States, offering a zero-tariff regime and greater purchases and investments in the country.

In a statement, Taiwan's Office of Trade Negotiations said its officials held a video conference with US officials whom it did not identify.

The talks focused on reciprocal tariffs between Taiwan and the United States, non-tariff barriers to trade, and a number of other economic and trade issues, including export controls, it added.

"Both sides look forward to conducting follow-up consultations ... in the near future and jointly building a strong and stable economic and trade relationship between Taiwan and the United States," it said.

The Office of the United States Trade Representative did not immediately respond to a request for comment sent outside of Washington work hours.

On Wednesday, US President Donald Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries, while further ramping up pressure on China.

Home to the world's largest contract chipmaker, TSMC, Taiwan has long sought a free trade deal with the United States, its most important international backer and arms supplier, even though the two have no formal diplomatic ties.

Taiwan faces increasing military and political pressure from its giant neighbor China, which views the democratically governed island as its own territory.

Taiwan's government rejects those claims, saying only the island's people can decide their future.