Saudi Energy Minister, US Secretary of Energy Sign Roadmap for Cooperation

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with the US Secretary of Energy. SPA
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with the US Secretary of Energy. SPA
TT

Saudi Energy Minister, US Secretary of Energy Sign Roadmap for Cooperation

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with the US Secretary of Energy. SPA
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with the US Secretary of Energy. SPA

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with US Secretary of Energy Jennifer M. Granholm.

Within the context of the Partnership for Advancing Clean Energy Agreement, signed by the Kingdom and the US in Jeddah on July 15, 2022, the Ministers discussed ways to enhance cooperation between the two countries in various energy fields, including carbon management, clean hydrogen, nuclear energy, electricity and renewables, innovation, energy sector supply chain resilience, and energy efficiency.

During Wednesday’s meeting, the two Ministers also addressed the Kingdom's efforts to tackle climate change through local and regional initiatives based on Circular Carbon Economy, including the “Saudi Green Initiative” and the “Middle East Green initiative.”

After the meeting, they signed a roadmap for cooperation in the field of energy between Saudi Arabia and the US.

The roadmap represents the joint implementation plan for energy cooperation, under the Partnership Framework for Advancing Clean Energy signed between the two countries in Jeddah on July 15, 2022, and sets a timeline that outlines critical projects for collaboration.

Both sides have agreed to implement the roadmap through several workstreams, including exchanging knowledge on policies in the areas covered by the roadmap, including policies related to standards and regulatory frameworks, enhancing joint research and development, especially in the field of new technologies, and building human capital through training and exchange of expertise.

The partnership framework covers cooperation in various fields and projects including clean energy, clean hydrogen, Circular Carbon Economy, Carbon Capture, Utilization and Storage technologies, clean cooking solutions, emissions reduction, research and development, and clean electricity generation technologies. The partnership framework also allows for further cooperation in other areas, in alignment with both countries' policies, laws, and international commitments.



Gold Rises as Traders Reassess Positions after Fed Rate Hike, Oil Rally Eases

Gold bracelets and necklaces displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)
Gold bracelets and necklaces displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)
TT

Gold Rises as Traders Reassess Positions after Fed Rate Hike, Oil Rally Eases

Gold bracelets and necklaces displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)
Gold bracelets and necklaces displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)

Gold climbed more than 1% on Thursday as a softer dollar and easing oil prices lent support, while investors assessed the Federal Reserve's latest rate hike and prospects for further policy tightening.

Spot gold was up 1.2% at $4,312.05 per ounce, as of 0848 GMT, after hitting a near six-week low on Wednesday. US gold futures for December delivery were down 0.8% ‌to $4,351, said Reuters.

"I suspect ‌the market may have gotten itself over ‌positioned on ⁠the expectation of ⁠a rate hike, as the likelihood grew. And now that it's happened, those positions are being squared out," said independent analyst Ross Norman.

Meanwhile, the dollar eased from a seven-week high, making greenback-priced bullion more affordable for holders of other currencies, while oil prices extended their fall on diminishing fears of supply disruptions.

The Fed raised ⁠rates on Wednesday and flagged more hikes ‌in the coming months, with new ‌chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump administration's ‌inability so far to control inflation that policymakers worry could ‌worsen.

Although gold is considered an inflation hedge, a high interest rate environment reduces its appeal by boosting the attractiveness of interest-bearing assets.

The Bank of England looks set to keep rates on hold on Thursday, while ‌the Bank of Japan could raise interest rates to a 31-year high on Friday.

"The Fed ⁠is tightening ⁠policy at a time when inflation is being driven primarily by energy prices and supply shocks, meaning higher interest rates could weaken growth without quickly resolving all price pressures," said Linh Tran, Market Analyst at XS.com.

"This environment remains supportive of demand for gold as a hedge, particularly while geopolitical uncertainty persists."

Spot silver rose 1.4% to $63.83 per ounce, platinum firmed 1.2% to $1,772.19 and palladium climbed 1.8% to $1,291.89.


Trump Warns EU of Tariffs over Canada's Potential Associate Membership

President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
TT

Trump Warns EU of Tariffs over Canada's Potential Associate Membership

President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)

US President Donald Trump has threatened to take action against the EU if it moved forward with European Commission President Ursula von der Leyen's proposal to make Canada the bloc's first associate member.

"If they do that, if I think it's at all ⁠a hostile act, ⁠I will put very serious tariffs or stop trading with Europe on many things," Trump told reporters en route to ⁠an event in North Carolina, calling the proposal "laughable."

"And so, if they do that, if Europe does that with a bad intention, if it's a good intention, that's fine. If it's a bad intention, we'll put very heavy tariffs ⁠on ⁠Europe."

Von der Leyen announced the proposal on Wednesday during her annual State of the Union speech, attended by Canadian Prime Minister Mick Carney, as she sought to deepen ties among allies in what she called "an openly hostile world.”


Riyadh Global Medical Biotechnology Summit Concludes with Agreements Exceeding SAR5 Billion

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
TT

Riyadh Global Medical Biotechnology Summit Concludes with Agreements Exceeding SAR5 Billion

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday with more than 40 agreements, initiatives and announcements unveiled through partnerships, programs and projects with a combined estimated value exceeding SAR5 billion.

The initiatives aim to advance biotechnology localization and strengthen its healthcare and economic impact, the Saudi Press Agency said.

The summit drew delegations and experts from more than 57 countries and more than 200 speakers. The total number of visitors and registrants exceeded 15,000.

Its program included more than 80 sessions, along with seven high-level executive sessions, covering artificial intelligence, genomics, vaccines, biomanufacturing, advanced therapies, investment, and talent development.

The Life Sciences Innovation Forum attracted five specialized investment funds that expressed readiness to invest more than $120 million in promising opportunities and companies.

Meanwhile, the Next Generation Biotechnologist Forum focused on empowering early-career researchers and scientists.

The accompanying exhibition spanned more than 6,000 square meters and featured more than 120 sponsors and exhibitors, including international pavilions from Spain, China, Japan, Germany, the United States of America, and the Republic of Korea.