Saudi MODON Wins Five Regional Awards for Human Resources Development, Women Empowerment

Saudi MODON Wins Five Regional Awards for Human Resources Development, Women Empowerment
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Saudi MODON Wins Five Regional Awards for Human Resources Development, Women Empowerment

Saudi MODON Wins Five Regional Awards for Human Resources Development, Women Empowerment

The Saudi Authority for Industrial Cities and Technology Zones (MODON) has achieved a significant milestone by securing five leading regional awards in human resources development and women's empowerment for 2024, highlighting the authority's commitment to fostering a creative and inspiring work environment, reported the Saudi Press Agency on Monday.

MODON was named the "Preferred Employer" of the year and recognized for having the "Best Leadership Development" program in 2024. Additionally, the authority came first as the best government agency promoting "Innovation in Employee Engagement" in the public and government sector across the Gulf Cooperation Council (GCC) region.

MODON also achieved second place in the "Innovation and Excellence in Employee Experience" category and third place for its efforts to "Support and Empower Women."

The awards were announced during the HR Awards ceremony, part of the HR Summit Middle East Edition held in Abu Dhabi, UAE. The event took place as part of the 12th GCC GOV HR Summit 2024.

Since its founding in 2001, MODON has focused on developing and managing industrial cities and technology zones in line with Saudi Arabia's national priorities. The authority works closely with both public and private sectors to drive industrial growth.

As a result, the area of developed land in 36 industrial cities across the Kingdom has expanded to more than 209 million square meters, accommodating 6,882 industrial facilities and 436 logistics facilities.

MODON's vision is to be the preferred destination for investment growth and the primary partner for the industrial and technology sectors in Saudi Arabia, positioning itself as a leader in innovation and workforce development.



Gold Steady as Investors Assess China's Stimulus Plans

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
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Gold Steady as Investors Assess China's Stimulus Plans

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold prices held steady on Monday as investors assessed China's weekend stimulus announcement, while also focusing on US Federal Reserve officials' comments for further rate cut cues.
Spot gold was little changed at $2,657.93 per ounce by 0548 GMT. Bullion rose nearly 1% in the previous session, Reuters said.
US gold futures were flat at $2,675.00.
The potential commitment to fiscal stimulus from China suggests a healthier economy, which bodes well for gold demand but the market needs to see more concrete measures, said Tim Waterer, chief market analyst at KCM Trade.
China on Saturday said it would "significantly increase" debt to revive its sputtering economy, but left investors guessing on the overall size of the stimulus package.
Investors will watch out for comments from Fed officials this week for more hints on the upcoming rate cuts, along with US retail sales data.
"If the Fed speakers this week create some further doubt over how many rate cuts could occur between now and year-end, any resulting upside in the dollar could see gold support levels around $2,600 again being tested," Waterer said.
Data on Friday showed unchanged US producer prices last month, cementing the case for quarter-point US interest-rate cuts at upcoming Fed policy meetings.
Traders see a roughly 89% chance of the Fed cutting rates by 25 basis points at its November meeting, and an 11% chance of it leaving rates unchanged.
The zero-yielding bullion is preferred in a low-interest rate environment.
The dollar index rose 0.1%, putting pressure on greenback priced-metals. A stronger dollar makes them less attractive to other currency holders.
Spot silver fell 0.4% to $31.39 per ounce and platinum shed 1% to $974.88. Both were set to snap a two-session winning streak.
Palladium extended its decline, falling 0.9% to $1,058.98.