Riyadh, Washington Bolster Strategic Space Partnership

US and Saudi national flags fly over a main road in Riyadh in 2017. (AFP file photo)
US and Saudi national flags fly over a main road in Riyadh in 2017. (AFP file photo)
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Riyadh, Washington Bolster Strategic Space Partnership

US and Saudi national flags fly over a main road in Riyadh in 2017. (AFP file photo)
US and Saudi national flags fly over a main road in Riyadh in 2017. (AFP file photo)

The Saudi Space Agency said that Saudi Arabia and the United States signed on Tuesday a strategic cooperation agreement focused on the exploration and peaceful utilization of outer space.
The agreement aims to enhance US-Saudi cooperation in the field of space and scientific exploration, increase joint investment in various commercial activities.

“The space sector in the Kingdom receives significant interest, support, and empowerment from the wise leadership, recognizing it as the next trillion-dollar economy and a sector that stimulates innovation and inspires generations," the Agency said in a statement.

"Through its ambitious Saudi Vision 2030, the Kingdom aims to strengthen its position in the world of space and the industry of its technologies,” it stated.
The agreement outlines areas of joint work between the two parties, which include space and earth sciences, aeronautics, space missions, education, and many other areas of mutual interest.
Commenting on this step, the Chairman of the Saudi Space Agency, Abdullah Alswaha, stated that “the agreement represents a turning point in the Kingdom’s journey towards building a strong and prosperous space sector."
The CEO of the Saudi Space Agency, Dr. Mohammed Altamimi, underscored the significance of this strategic partnership in identifying areas of mutual interest and fostering collaborative endeavors.



Dollar Hovers as Investors Focus on Israel-Iran Conflict ahead of Fed Decision

US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo
US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo
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Dollar Hovers as Investors Focus on Israel-Iran Conflict ahead of Fed Decision

US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo
US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo

The US dollar dipped against the yen and steadied against the Swiss franc on Wednesday, as fighting between Israel and Iran prompted investors to scoop up safe havens, while a Federal Reserve decision later on rates kept volatility subdued.

Israel has bombarded arch-enemy Iran over the past six days to halt its nuclear activity and has asserted the need for a change of government in the Islamic Republic.

The US military is also bolstering its presence in the region, Reuters reported, stirring speculation about US intervention that investors fear could widen the conflict in an area with critical energy resources, supply chains and infrastructure.

Iranian Supreme Leader Ali Khamenei said in a statement read by a state television presenter on Wednesday that his country would not accept US President Donald Trump's call for an unconditional surrender.

The dollar has resumed its role as a safe haven, having gained around 1% against both the Japanese yen and Swiss franc since last Thursday. On Wednesday, theurrency took a breather, edging fractionally lower against the yen and the franc and more noticeably so against the euro and the pound.

"The dollar is still a safe haven because of its depth and liquidity, so, yes, the structural forces are diluting the dollar safe-haven activities, but they're not eroding them completely," said currency strategist Rodrigo Catril at National Australia Bank.

"But in a scenario of big risk aversion, the dollar will still gain support, but maybe not to the same extent it has managed in the past."

Against a basket of six other major currencies, the dollar is still down around 8% so far this year, as confidence in the US economy and the reliability of Trump's administration as a trading and diplomatic partner has faded.

With the Fed's decision on interest rates just hours away and US markets closed on Thursday for the Juneteenth federal holiday, activity in currencies was muted.

Against the yen, the dollar fell 0.3% to 144.845 and was steady against the franc at 0.8175 francs.