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Saudi Arabia to Host UNIDO 21st General Conference in 2025

UNIDO 20th General Conference
UNIDO 20th General Conference
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Saudi Arabia to Host UNIDO 21st General Conference in 2025

UNIDO 20th General Conference
UNIDO 20th General Conference

Saudi Arabia has been selected to host the 21st session of the General Conference of the United Nations Industrial Development Organization (UNIDO) in Riyadh in November 2025 following a resolution adopted by acclamation by the 172 members of the Vienna-based organization, SPA said on Saturday.
The Kingdom’s selection came during the 20th session of the UNIDO General Conference held in the Austrian capital, Vienna, with the participation of an official Saudi delegation, headed by Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef.
On the occasion, Alkhorayef extended his thanks and gratitude to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Saudi Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for their support to the ministry and the industrial sector.

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Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
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Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil prices were up slightly on Friday on stronger-than-expected US economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer.

But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains.

Brent crude futures for September rose 7 cents to $82.44 a barrel by 0014 GMT. US West Texas Intermediate crude for September increased 4 cents to $78.32 per barrel, Reuters reported.

In the second quarter, the US economy grew at a faster-than-expected annualised rate of 2.8% as consumers spent more and businesses increased investments, Commerce Department data showed. Economists polled by Reuters had predicted US gross domestic product would grow by 2.0% over the period.

At the same time, inflation pressures eased, which kept intact expectations that the Federal Reserve would move forward with a September interest rate cut. Lower interest rates tend to boost economic activity, which can spur oil demand.

Still, continued signs of trouble in parts of Asia limited oil price gains.

Core consumer prices in Japan's capital were up 2.2% in July from a year earlier, data showed on Friday, raising market expectations of an interest rate hike in the near term.

But an index that strips away energy costs, seen as a better gauge of underlying price trends, rose at the slowest annual pace in nearly two years, suggesting that price hikes are moderating due to soft consumption.

China, the world's biggest crude importer, surprised markets for a second time this week by conducting an unscheduled lending operation on Thursday at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the economy.