Saudi Tourism Development Fund Signs MoU with Spain's IE University

The agreement aims to improve employee knowledge, awareness, and competencies in the tourism field. SPA
The agreement aims to improve employee knowledge, awareness, and competencies in the tourism field. SPA
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Saudi Tourism Development Fund Signs MoU with Spain's IE University

The agreement aims to improve employee knowledge, awareness, and competencies in the tourism field. SPA
The agreement aims to improve employee knowledge, awareness, and competencies in the tourism field. SPA

The Saudi Tourism Development Fund (TDF) has signed a Memorandum of Understanding (MoU) with IE University in Spain, a higher education institution focused on training influential leaders. The objective is to implement tailored educational programs and training courses for TDF employees, aligning with the National Tourism Strategy and Saudi Vision 2030.

The agreement, inked by TDF CEO Qusai bin Abdullah Al-Fakhri and IE University President Santiago Iñiguez, aims to elevate employee knowledge, awareness, and competencies in the tourism field.

Al-Fakhri stated that the MoU signifies a significant step toward fostering positive interaction between the tourism sector and educational institutions. The goal is to enhance human capabilities, equip individuals with necessary skills and knowledge, and align development with quality and excellence standards. This, in turn, contributes to professional growth, active participation in Saudi Arabia's tourism boom, and a role in driving growth and prosperity.

Furthermore, Al-Fakhri emphasized TDF's commitment to developing skills and competencies, providing professional development opportunities, and ensuring a qualified workforce to meet the demands of the growing tourism sector. The collaboration with IE University reflects the commitment to creating a supportive educational environment in crucial tourism regions.

IE University's President highlighted the importance of cooperation between higher education and tourism, emphasizing the need to develop specialized professionals in the field.

The agreement aims to achieve integration between education and tourism, working towards producing qualified individuals.

The MoU is part of the TDF's broader initiative, collaborating with top universities, training centers, and international expertise houses. The Graduate Development Program (Tourism Olou) is among the launched educational programs designed to develop Saudi talents, enhance competitiveness, and provide essential skills for the tourism sector.



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.