Saudi Arabia, EU Explore Cooperation in Higher Education

The meeting reviewed cooperation between Saudi Arabia and the European Union in higher education and research. (Asharq Al-Awsat)
The meeting reviewed cooperation between Saudi Arabia and the European Union in higher education and research. (Asharq Al-Awsat)
TT
20

Saudi Arabia, EU Explore Cooperation in Higher Education

The meeting reviewed cooperation between Saudi Arabia and the European Union in higher education and research. (Asharq Al-Awsat)
The meeting reviewed cooperation between Saudi Arabia and the European Union in higher education and research. (Asharq Al-Awsat)

The Saudi Ministry of Education and the EU Delegation of Erasmus+ program reviewed cooperation in higher education and research, with the participation of European experts and representatives of major universities in the Kingdom.

Funded by the EU, the Erasmus program is the first large-scale international action program to enhance the mobility of higher education students, focusing on lifelong learning to support education, training, youth, and sports in Europe.

Since its inception 35 years ago, over 13 million students have benefited from its programs. It has a budget of $27.9 billion running from 2021-2027.

The opportunities offered by Erasmus+ are now available to the Gulf region, where Saudi universities can establish partnerships with their European counterparts to exchange students and staff.

Speaking at the event, EU Ambassador to Saudi Arabia and Oman Christophe Farnaud said the EU is accelerating international cooperation in the academic field, offering tremendous opportunities for young Saudi students to study and live in Europe.

“Erasmus+ is designed to enhance two-way exchanges and also enable more Europeans to come to study in the Gulf, further bolstering our people-to-people contacts and our bilateral relations,” he added.

In May 2022, the EU announced its strategic partnership with the Gulf, which aims to expand and deepen cooperation between the two sides.

Several proposals between the EU and Saudi Arabia aim to enhance energy, green transformation, climate change, trade, economic diversification, regional stability, global security, and humanitarian and development challenges.



Gold Falls as Easing US-China Tensions Curb Safe-haven Demand

FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
TT
20

Gold Falls as Easing US-China Tensions Curb Safe-haven Demand

FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo

Gold retreated on Monday as easing US-China trade tensions boosted investors' risk appetite and dented demand for safe-haven assets such as bullion, while a stronger dollar also piled on the pressure.

Spot gold was down 0.8% at $3,292.43 an ounce, as of 0431 GMT. Bullion hit a record high of $3,500.05 on April 22.

US gold futures rose 0.2% to $3,303.70.

The dollar rose 0.2% against a basket of currencies, making bullion more expensive for overseas buyers, Reuters reported.

"It's probably fair to say that financial markets and risk-assets in particular are feeling slightly better about the tariff picture now compared to the frantic first week in April," KCM Trade Chief Market Analyst Tim Waterer said.

"Comments last week from the White House have fueled optimism that a US-China trade deal may eventuate, which has caused safe-haven demand for assets such as gold to subside."

US President Donald Trump has said talks on tariffs were taking place with China.

The Trump administration signaled openness last week to de-escalating a trade war between the world's two largest economies that has raised fears of recession.

On Friday, China exempted some US imports from its steep tariffs, though China quickly knocked down Trump's assertion that negotiations were underway.

Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low interest rate environment.

Meanwhile, many participants in the International Monetary Fund and World Bank Spring Meetings said Trump's administration was still conflicted in its demands from trading partners hit with his sweeping tariffs.

Key data releases this week include the US job openings report on Tuesday, Personal Consumption Expenditures on Wednesday, and the non-farm payrolls report on Friday. These reports may provide more insight into the Federal Reserve's monetary policy outlook.

Spot silver dropped 0.6% to $32.88 an ounce, platinum eased 0.2% at $969.73 and palladium lost 0.6% to $943.28.