Ballard Partners Seeks to Open Legal Office in Saudi Arabia

Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
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Ballard Partners Seeks to Open Legal Office in Saudi Arabia

Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)

Ballard Partners, one of the major law firms in the United States, announced its intention to open its first law office in Riyadh. The US company’s move comes after the Saudi Council of Ministers agreed to allow foreigners to practice the legal profession in the Kingdom.

Brian Ballard, founder and president of Ballard Partners, said in an interview with Asharq Al-Awsat, shortly before his departure from Riyadh, that he received a great welcome from the government, adding that he was excited about the possibility of opening an office in the country.

He revealed that his company has found in Abdullah Al-Meleihi, Chairman of Saudi Excellence Company, a reliable partner through which it will enter the Saudi business environment.

Ballard expressed his astonishment at the outcome of the programs launched by Saudi Crown Prince Mohammed bin Salman, through Vision 2030, which he said revitalized the business environment and attracted international investors.

Asked about the meetings he held in Riyadh, the president of Ballard Partners said that the purpose of his visit was to explore work opportunities in the country, adding that he discussed with Saudi officials means to best serve the customers by opening the firm’s first office in Saudi Arabia.

Ballard noted that he was very impressed by the opportunities offered not only to his company, but also to the clients it represents.

Underlining the importance of the Saudi endeavor to attract foreign legal firms and lawyers, he indicated that the reforms, which have regulated all aspects of business activities in the Kingdom, were very meaningful and transparent to the point that any company can come and find a suitable environment to launch its business.

Ballard stressed that major US law and accounting firms, as well as companies providing professional services, have a prosperous business future in Saudi Arabia, expecting the coming period to witness more American investments in the country.



Gold Drifts Higher as US Rate Cut Optimism Boosts Appeal

A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
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Gold Drifts Higher as US Rate Cut Optimism Boosts Appeal

A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more US economic data for further monetary policy cues.

Spot gold rose 0.1% to $2,423.89 per ounce by 0140 GMT. On Monday, prices hit their highest level since May 20, when bullion scaled a record peak of $2,449.89.

US gold futures were flat at $2,429.90.

"Powell continued to lay the groundwork for upcoming policy easing. A rate cut in September is now fully priced in by markets, which may keep sentiments in gold prices well-supported in the lead-up," said IG market strategist Yeap Jun Ron, Reuters reported.

Powell said on Monday the three US inflation readings over the second quarter of this year "add somewhat to confidence" that the pace of price increases is returning to the Fed's target in a sustainable fashion, remarks that suggest a turn to interest rate cuts may not be far off.

When interest rates decrease, the allure of non-yielding bullion typically increases.

Investors were awaiting US retail sales data due at 1230 GMT on Tuesday and comments from Fed governors Christopher Waller and Adriana Kugler later this week for further direction.

A subdued retail sales report may underpin gold prices on dovish Fed bets, while a break to a fresh high will mark a continuation of gold's broader upward trend, which may leave the $2,600 level on watch next, Yeap said.

Elsewhere, India's four-week platinum imports from mid-June eclipsed 2023's total as bullion dealers exploited a loophole by registering alloys containing around 90% gold as platinum to avoid higher duties, government and industry officials told Reuters.

Among other metals, spot silver fell 0.9% to $30.72 per ounce and platinum eased 0.4% to $991.40, while palladium rose 0.2% to $951.84.