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Green Investments Surge in Saudi Arabia with Circular Economy, Clean Hydrogen Tech

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Green Investments Surge in Saudi Arabia with Circular Economy, Clean Hydrogen Tech

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Saudi Arabia is pushing towards achieving carbon neutrality by 2060 and developing a green economy.
Skytower Investments, a renewable technology, green manufacturing, supply chain and green power production investment company, is actively seeking new partnerships to advance carbon and green hydrogen technologies.
Such initiatives will bring new economic opportunities to Saudi Arabia.
Skytower Investments predicted Saudi Arabia attracting more investments in upcoming projects, creating opportunities for global companies and boosting job growth. This supports Saudi Arabia’s role as a driver of sustainable growth in the region, with plans underway to foster green economy development.
The investment company has backed a recent agreement between Riyadh and Washington for a transcontinental green trade corridor, aiming to facilitate trade and climate adaptation strategies.
Saudi Arabia is promoting this initiative globally, benefiting neighboring and South Asian countries. It aims to expand green supply chains, green manufacturing, and digital transformation, contributing to a sustainable future.
Hydrogen production is seen as economically valuable for Saudi Arabia, leveraging its abundant natural resources and young, dynamic population.
The Kingdom’s green potential lies in its high-quality silica resources, used for green energy production and advanced manufacturing.
Chairman Neil Bush of Skytower Investments highlighted ongoing efforts to strengthen partnerships and support Saudi Arabia’s economic goals under Vision 2030. This includes promoting green energy, green hydrogen, and carbon economy technologies.
Skytower Investments CEO Eric Fang aligned current efforts with Saudi Arabia’s strategy to support local, regional, and global development, focusing on high-quality job creation in the green industry.
Saudi partner Abdullah bin Zaid Al Mulaifi mentioned rapid progress in introducing green energy and technologies, supporting Saudi Arabia’s goals for green and carbon-neutral energy by 2060.
Skytower Investments plans to invest further in specialized global technologies, collaborating with public and private sectors in the Kingdom.

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Federal Reserve Cuts Key Interest Rate by a Quarter-point

US Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, US, November 7, 2024. REUTERS/Annabelle Gordon
US Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, US, November 7, 2024. REUTERS/Annabelle Gordon
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Federal Reserve Cuts Key Interest Rate by a Quarter-point

US Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, US, November 7, 2024. REUTERS/Annabelle Gordon
US Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, US, November 7, 2024. REUTERS/Annabelle Gordon

The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.
The rate cut follows a larger half-point reduction in September, and it reflects the Fed’s renewed focus on supporting the job market as well as fighting inflation, which now barely exceeds the central bank’s 2% target, The Associated Press reported.
Asked at a news conference how Trump's election might affect the Fed's policymaking, Chair Jerome Powell said that "in the near term, the election will have no effects on our (interest rate) decisions.”
But Trump’s election, beyond its economic consequences, has raised the specter of meddling by the White House in the Fed’s policy decisions. Trump has argued that as president, he should have a voice in the central bank’s interest rate decisions. The Fed has long guarded its role as an independent agency able to make difficult decisions about borrowing rates, free from political interference. Yet in his previous term in the White House, Trump publicly attacked Powell after the Fed raised rates to fight inflation, and he may do so again.
Asked whether he would resign if Trump asked him to, Powell, who will have a year left in his second four-year term as Fed chair when Trump takes office, replied simply, “No.”
And Powell said that in his view, Trump could not fire or demote him: It would “not be permitted under the law,” he said.
Thursday’s Fed rate cut reduced its benchmark rate to about 4.6%, down from a four-decade high of 5.3%. The Fed had kept its rate that high for more than a year to fight the worst inflation streak in four decades. Annual inflation has since fallen from a 9.1% peak in mid-2022 to a 3 1/2-year low of 2.4% in September.
When its latest policy meeting ended Thursday, the Fed issued a statement noting that the "unemployment rate has moved up but remains low,” and while inflation has fallen closer to the 2% target level, it “remains somewhat elevated.”
After their rate cut in September — their first such move in more than four years — the policymakers had projected that they would make further quarter-point cuts in November and December and four more next year. But with the economy now mostly solid and Wall Street anticipating faster growth, larger budget deficits and higher inflation under a Trump presidency, further rate cuts may have become less likely. Rate cuts by the Fed typically lead over time to lower borrowing costs for consumers and businesses.
Powell declined to be pinned down Thursday on whether the Fed would proceed with an additional quarter-point rate cut in December or the four rate cuts its policymakers penciled in for 2025.