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.



Stocks Drop as Fresh Trade News Awaited, Oil Down on Iran Hopes

Oil prices have dropped after an adviser to Iranian supreme leader Ayatollah Ali Khamenei said Tehran could be open to meeting some demands over its nuclear program. KHAMENEI.IR/AFP
Oil prices have dropped after an adviser to Iranian supreme leader Ayatollah Ali Khamenei said Tehran could be open to meeting some demands over its nuclear program. KHAMENEI.IR/AFP
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Stocks Drop as Fresh Trade News Awaited, Oil Down on Iran Hopes

Oil prices have dropped after an adviser to Iranian supreme leader Ayatollah Ali Khamenei said Tehran could be open to meeting some demands over its nuclear program. KHAMENEI.IR/AFP
Oil prices have dropped after an adviser to Iranian supreme leader Ayatollah Ali Khamenei said Tehran could be open to meeting some demands over its nuclear program. KHAMENEI.IR/AFP

Equities stuttered Thursday as investors await fresh developments in trade talks, with US partners looking to reach deals to avoid Donald Trump's tariff blitz, while oil extended losses on hopes for an Iran nuclear deal.

With excitement from the China-US detente running out of legs, the search is on for fresh catalysts to drive a rally that has pushed markets back above the levels seen before US President Trump's April 2 "Liberation Day" bombshell, AFP said.

News that Beijing was suspending some non-tariff countermeasures on US entities for 90 days following the superpowers' weekend truce did little to inject much more enthusiasm.

With the tariffs crisis calmed for now, dealers can turn their attention to hard economic data, hoping for an idea about the initial impact of Washington's trade policies.

After figures Tuesday showing US inflation came in a little below forecasts in April, eyes are on wholesale prices and retail sales due later Thursday, as well as earnings from retail giant Walmart.

However, analysts pointed out that the real impact would not be seen until May's figures are released and warned that there were still plenty of bumps in the road ahead.

"The trade truce may hold for now, but the tariffs announced -- many still around 30 percent -- are not disappearing," said Charu Chanana, chief investment strategist at Saxo.

"These are 'sticky' policies that can reshape supply chains, corporate margins, and even inflation. In fact, the market is now preparing for a second shock: weaker economic and earnings data in the third quarter as tariffs bite."

She added that "the muted market reaction the day after the truce suggests investors may be digesting the idea that 'the best news may already be out'".

While Wall Street enjoyed a broadly positive day, with the S&P and Nasdaq up but the Dow down, Asia largely reversed.

Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Wellington, Taipei and Manila were all down.

Oil prices sank around two percent on signs that Iran could agree to certain US demands to reach a nuclear deal.

An adviser to supreme leader Ali Khamenei said Wednesday that Tehran could accept far-reaching curbs on its atomic program in exchange for sanctions relief, according to NBC News.

Ali Shamkhani said in an interview that his country could agree to never develop nuclear weapons, give up stockpiles of highly enriched uranium and allow inspectors to nuclear sites -- among other steps -- if economic sanctions were lifted, NBC said.

The commodity had already dropped Wednesday on bets that demand would increase as tensions between China and the United States ease and the tariffs are wound back.