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Saudi-Philippine Meeting Discusses Boosting Investment Opportunities, Relations

A Saudi-Philippine meeting was held in Riyadh in the presence of Philippines President Ferdinand Marcos Jr. and the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, along with distinguished officials from both countries.
A Saudi-Philippine meeting was held in Riyadh in the presence of Philippines President Ferdinand Marcos Jr. and the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, along with distinguished officials from both countries.
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Saudi-Philippine Meeting Discusses Boosting Investment Opportunities, Relations

A Saudi-Philippine meeting was held in Riyadh in the presence of Philippines President Ferdinand Marcos Jr. and the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, along with distinguished officials from both countries.
A Saudi-Philippine meeting was held in Riyadh in the presence of Philippines President Ferdinand Marcos Jr. and the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, along with distinguished officials from both countries.

A Saudi-Philippine meeting was held Thursday in Riyadh in the presence of Philippines President Ferdinand Marcos Jr. and the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, along with distinguished officials from both countries, major companies, and representatives from both the public and private sectors, said SPA.
Meeting participants discussed aspects of investment partnerships in areas such as energy, industry, Islamic financial services, and food security.
The meeting also explored ways to enhance relations between the two countries. It aimed to strengthen cooperation in the labor sector and utilize skilled Filipino workers in various sectors.
The meeting addressed investment opportunities and enhancing investment relations between the two countries, promoting efforts to develop economic and investment ties between the Kingdom of Saudi Arabia and the Philippines, fostering quality investments, and enabling the private sector to benefit from investment opportunities in both nations.
The meeting witnessed the signing of a memorandum of understanding in the private sector for human resources, aiming to provide skilled labor to meet the Saudi market's needs through global partnerships with leading companies in this sector.

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Gold Gains as Dollar Slips on Trump Tariff Uncertainty

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Gains as Dollar Slips on Trump Tariff Uncertainty

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices rose on Tuesday as the US dollar eased due to uncertainty around President-elect Donald Trump's tariff plans, with further support coming from top consumer China's central bank adding to its gold reserves for a second straight month.

Spot gold was up 0.5% at $2,648.75 per ounce, as of 1218 GMT. US gold futures also rose 0.5% to $2,660.20.

"The main factor is the softening of the US dollar over the last two sessions, which has provided some relief for the precious metal," said Ricardo Evangelista, senior analyst at ActivTrades.

The dollar index eased towards a one-week low versus major peers as traders considered whether President-elect Donald Trump's tariffs would be less aggressive than promised following a report in the Washington Post, Reuters reported.

Trump however denied the report, deepening uncertainty about future US trade policies.

A stronger dollar makes bullion more expensive for other currency holders.

Traders are setting their sights on Friday's US jobs report for Fed policy clues, along with job openings data due later in the day, ADP employment and the minutes from the Fed's December meeting on Wednesday.

Fed Governor Lisa Cook on Monday said that the Fed can be cautious about any further rate cuts given a solid economy and inflation proving stickier than previously expected.

Bullion is considered a hedge against inflation, but high rates reduce the non-yielding asset's appeal.

Meanwhile, China's gold reserves stood at 73.29 million fine troy ounces at the end of December as the central bank kept buying gold for a second straight month, official data showed.

"By re-entering the market in December, Beijing signaled that its gold acquisition program remains active—a development likely to lend continued support to the precious metal's price," Evangelista added.

Gold prices gained about 27% in 2024, mainly boosted by robust central bank purchases and Fed rate cuts.

Spot silver gained 0.8% to $30.19 per ounce, platinum added 1.2% to $944.39 and palladium rose 0.9% to $928.38.