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British-Saudi Sustainable Forum Focuses on Energy, Infrastructure Investments in Saudi Arabia

The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. (SPA)
The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. (SPA)
TT
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British-Saudi Sustainable Forum Focuses on Energy, Infrastructure Investments in Saudi Arabia

The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. (SPA)
The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. (SPA)

British investors at the British-Saudi Sustainable Infrastructure Summit in London expressed on Monday keen interest in investing in the renewable energy sector and sustainable infrastructure in the Kingdom of Saudi Arabia.

Their interests align with the Kingdom's Vision 2030 focus on leveraging renewable and green energy for major environmental and sustainability projects.

The forum was organized by the Saudi-British Business Council of the Federation of Saudi Chambers and the City of London Corporation. Taking part were representatives of the Ministry of Investment and over 250 policymakers, industry leaders, senior executives, and public and private sectors representatives from the two countries.

The summit highlighted the investment opportunities in Saudi Arabia’s five largest projects: NEOM, Qiddiya, the Red Sea Project, Roshen, and Diriyah. It also emphasized the importance of developing sustainable infrastructure projects, financing strategies, and the future of green technologies.

Saudi Arabia and Britain are witnessing growing economic ties, with trade volume reaching approximately SR25.7 billion, reflecting a 13.8% growth. Britain ranks 25th among the Kingdom’s export partners and 10th in terms of imports.

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Gold Rises on Dip-buying, Focus on US-China Trade Updates

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
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Gold Rises on Dip-buying, Focus on US-China Trade Updates

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 prices rebounded on Thursday as investors bought bullion following a sharp decline in the previous session, while focus still remained on US-China trade tensions.
Spot gold was up 1.6% to $3,340.79 an ounce, as of 0907 GMT, Reuters reported. Bullion lost over 3% on Wednesday, in its worst daily performance since late November.
US gold futures gained 1.8% to $3,352.10.
"Gold's pullback earlier has cleared some of the froth from its latest surge. That in turn attracted some buy-the-dip action, amid still-persistent global trade war fears," said Han Tan, Exinity Group's chief market analyst.
"Given the still-evident tailwinds for this precious metal, gold bugs could ultimately conquer the $3,500 level with conviction."
Non-yielding bullion, traditionally seen as a hedge against global instability, has risen over 27% so far this year.
The International Monetary Fund made sharp reductions to its outlook for both US and global growth this year, with President Donald Trump's tariff policy the central reason behind the downgrade.
"If the economic outlook deteriorates further, then there's no reason why gold could not receive another strong bid," said Ole Hansen, head of commodity strategy at Saxo Bank.
However, US Treasury Secretary Scott Bessent said the US economic growth will surpass the IMF's revised estimate of 1.8%, down from 2.7% in January, if Trump administration's policies are implemented.
He also said that the excessively high tariffs between the US and China are unsustainable, and must be reduced before trade negotiations can proceed.
Supporting gold, the US dollar eased, making the greenback-priced bullion cheaper for overseas buyers.
Spot silver fell 0.5% to $33.37 an ounce, platinum was steady at $973.25 and palladium was down 0.6% to $939.53.