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US-Saudi Business Council Organizes Promoting Opportunities in Saudi Arabia Conference

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat
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US-Saudi Business Council Organizes Promoting Opportunities in Saudi Arabia Conference

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat

The US-Saudi Business Council will organize on Monday a conference to promote economic opportunities in the Kingdom in New Orleans in partnership with KN Legal.

Speakers from Saudi Aramco, the US-Saudi Arabia Business Council, KN Legal as well as representatives of the US Export Assistance Center in New Orleans and the Lafayette Economic Development Commission will present important data and assistance resources for companies interested in entering or expanding their businesses in the Saudi market.

The conference will also see the participation of a number of experts and speakers to get a general overview of the available opportunities for American companies in Saudi Arabia in the oil and gas projects and the new opportunities generated from the mega economic diversification strategy of the Saudi Vision 2030.

The conference will highlight the efforts of the Saudi leadership in encouraging international participation in this fast-moving economy, such as economic, trade and regulatory reforms to improve the transparency and predictability of the Saudi business environment.

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Business

France Not Considering Soccer World Cup Boycott over Greenland for Now

President Donald Trump is presented with the inaugural FIFA Peace Prize by FIFA President Gianni Infantino during the 2026 FIFA World Cup draw at the Kennedy Center, Dec. 5, 2025, in Washington. (AP Photo/Evan Vucci, file)
President Donald Trump is presented with the inaugural FIFA Peace Prize by FIFA President Gianni Infantino during the 2026 FIFA World Cup draw at the Kennedy Center, Dec. 5, 2025, in Washington. (AP Photo/Evan Vucci, file)
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France Not Considering Soccer World Cup Boycott over Greenland for Now

President Donald Trump is presented with the inaugural FIFA Peace Prize by FIFA President Gianni Infantino during the 2026 FIFA World Cup draw at the Kennedy Center, Dec. 5, 2025, in Washington. (AP Photo/Evan Vucci, file)
President Donald Trump is presented with the inaugural FIFA Peace Prize by FIFA President Gianni Infantino during the 2026 FIFA World Cup draw at the Kennedy Center, Dec. 5, 2025, in Washington. (AP Photo/Evan Vucci, file)

France's sports minister says her country is not currently thinking about boycotting the soccer World Cup in the United States amid growing tensions related to Donald Trump's quest to control Greenland.

“At the moment we are speaking, there is no desire from the ministry to boycott this major, much-anticipated competition," sports minister Marina Ferrari told reporters on Tuesday evening. "That said, I am not prejudging what might happen.”

Ferrari added that she wants to keep sports separate from politics, The AP news reported.

“The 2026 World Cup is an extremely important moment for all sports lovers,” she said.

With the tournament kicking off in June in the United States, Canada and Mexico, the US president's ambitions to wrest control of Greenland from NATO ally Denmark has the potential to tear relations with European allies.

In France, leftist lawmaker Eric Coquerel said the opportunity of a boycott by France, a two-time winner of the men's World Cup, should be considered.

“Seriously, can we really imagine going to play the footie World Cup in a country that attacks its ‘neighbors,’ threatens to invade Greenland, undermines international law, wants to torpedo the UN," he asked in a message posted on social media.

“The question seriously arises, especially since it is still possible to refocus the event on Mexico and Canada,” he wrote.

France lost to Argentina in the final of the World Cup in 2022.

No boycott by Scotland after 28-year wait In the UK, the Scottish National Party’s Westminster leader, Stephen Flynn, said boycotting the World Cup was not the right option for Scotland, which will feature at the World Cup for the first time since 1998.

“Without being flippant, we have boycotted the World Cup proactively since 1998 and I’m not entirely sure that’s a route that we want to go down again,” Flynn said.

“Instead I think we need serious and committed international dialogue with our allies on the European continent."

On Tuesday a number of MPs called for the home nations to boycott the World Cup. England and Scotland have qualified for the showcase event, while Wales and Northern Ireland are in the playoffs.

 

 

 

Business

Saudi-Jordanian Business Forum Approves Roadmap for Cooperation in Promising Sectors

The forum's activities included meetings of the joint Saudi-Jordanian Business Council - SPA
The forum's activities included meetings of the joint Saudi-Jordanian Business Council - SPA
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Saudi-Jordanian Business Forum Approves Roadmap for Cooperation in Promising Sectors

The forum's activities included meetings of the joint Saudi-Jordanian Business Council - SPA
The forum's activities included meetings of the joint Saudi-Jordanian Business Council - SPA

The Federation of Saudi Chambers and the Jordan Chamber of Commerce organized the Saudi-Jordanian Business Forum at the federation's headquarters in Riyadh.

The forum's activities included meetings of the joint Saudi-Jordanian Business Council, the signing of five Saudi-Jordanian agreements in various sectors, and bilateral meetings between representatives of Saudi and Jordanian companies to build commercial and investment partnerships, SPA reported.

Specialized meetings were also held for the sectoral committees emanating from the Joint Business Council, to draw up a roadmap for cooperation in promising sectors including: agriculture and food security; industry, mining and energy; financial services and trade finance; health, pharmaceuticals and medical supplies; logistics, ports and transportation; reconstruction and infrastructure; tourism and hospitality; investment, trade and franchising; contracts; education and human resources; and information technology and digital trade.

Business

Gold Breaks above $4,800/oz as Geopolitical Tensions Spur Safe-haven Bids

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
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Gold Breaks above $4,800/oz as Geopolitical Tensions Spur Safe-haven Bids

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola

Gold surpassed $4,800 an ​ounce for the first time on Wednesday as geopolitical tensions including US President Donald Trump's bid to control Greenland drove safe-haven demand.

Spot gold was up 2.1% at $4,865 per ounce by 9:30 a.m. ET (1430 GMT), after rising as far as $4,887.82 earlier in the session. US gold futures for February delivery climbed nearly 2% to $4,858.3 per ounce, Reuters reported.

"There's a ‌bit of fear ‌of missing out on this ‌trade ⁠and ​I think ‌given the geopolitical situation in the world, it's a perfect storm for higher gold and higher silver prices right now," said RJO Futures senior market strategist Bob Haberkorn. US stocks staged a modest recovery after the sharpest equities selloff in three months, as investors digested Trump's speech in Davos, Switzerland, in ⁠which he said Europe is headed in the wrong direction but ruled out ‌using force to acquire Greenland. Meanwhile, ‍the US Supreme Court ‍is set to consider Trump's unprecedented attempt to fire Federal ‍Reserve Governor Lisa Cook, in a case that tests the central bank's independence. The Fed is likely to hold its key interest rate through this quarter and possibly until Chair Jerome Powell's ​tenure ends in May, according to a majority of economists polled by Reuters.

Lower interest rates are ⁠favourable for non-yielding gold.

Spot silver was steady at $94.61 an ounce, after hitting a record high of $95.87 on Tuesday, driven by supply tightness and increasing industrial demand.

"Silver's rise to a three-digit number is looking quite possible given the price momentum we are seeing, but it will not be a one-way move. There could be some correction in prices and volatility can be higher," said Soni Kumari, ANZ commodity strategist.

Spot platinum was 1% higher at $2,487.05 per ounce after hitting a record $2,511.80 ‌earlier in the day. Palladium was down 0.9% at $1,849.25, after touching its highest in a week.