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‘Powering the Future Toward Net Zero’ Forum Starts Sunday in Dammam

‘Powering the Future Toward Net Zero’ Forum Starts Sunday in Dammam
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‘Powering the Future Toward Net Zero’ Forum Starts Sunday in Dammam

‘Powering the Future Toward Net Zero’ Forum Starts Sunday in Dammam

The International Forum "Powering the Future Toward Net Zero", organized by the Gulf Cooperation Council Interconnection Authority (GCCIA) in collaboration with the Electric Power Research Institute (EPRI), GO15, and Med-TSO in Al Khobar, will be held in Dammam on October 27 under the patronage of Governor of the Eastern region Prince Saud bin Nayef bin Abdulaziz.
GCCIA CEO Eng. Ahmed Al Ebrahim stressed that the main sessions of the two-day forum will discuss the energy sector's strategy to achieve net-zero emissions and accelerate decarbonization efforts through global collaboration and innovation, SPA reported.
He pointed out that discussions will revolve around enhancing the regional grid to enable a reliable, affordable, and zero-emissions future. They will also highlight the role of a strong regional grid infrastructure in achieving net-zero emissions targets, showcase grid improvement technologies, and explore modern technologies, advanced planning, and operational capabilities necessary to enhance grid resilience, affordability, and market shifts essential for supporting the energy transition.
Discussions at the forum will also cover emerging technologies in AI, grid operations, and planning.
Al Ebrahim said that a variety of discussions led by experts from GCCIA, GO15, Med-TSO, and EPRI, and covering critical topics such as grid planning, market reforms, the role of AI in grid operations, and the deployment and enhancement of grid technologies will also be held during the forum.
He added that CEOs, advisors, and government representatives from the GCC, North America, Europe, and Asia will provide unique perspectives in the course of discussions, ensuring a comprehensive exploration of strategies to enable a reliable and sustainable energy transition.

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Gold Drops Nearly 2% on Profit-booking, Trump's Treasury Secretary Pick

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
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Gold Drops Nearly 2% on Profit-booking, Trump's Treasury Secretary Pick

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold dropped nearly 2% on Monday, weighed down by profit-taking after a five-session rally, with further pressure from the announcement of fund manager Scott Bessent as the next US Treasury secretary.
Spot gold was down 1.8% at $2,664.53 per ounce, as of 0619 GMT, after declining more than 2% earlier in the session. Bullion had hit its highest since Nov. 6 earlier in the day.
US gold futures shed 1.7% to $2,666.40.
Gold's five-session rally has paused due to some profit-taking and Donald Trump's pick of Bessent as the next US Treasury secretary, hinting at tempered use of tariffs and easing US-China trade uncertainty, said IG market strategist Yeap Jun Rong.
President-elect Trump has floated the idea of a 60% tariff on Chinese goods and at least a 10% levy on all other imports.
Gold is considered a safe investment during times of economic and political uncertainty.
Investors are also awaiting minutes of the Federal Reserve's November meeting, GDP data (first revision), and core PCE figures, all due this week.
Traders currently see a 56% chance of another 25-basis-point rate cut in December, compared to 62% last week, according to the CME Fedwatch tool.
Recent less dovish signals from US policymakers suggest any unexpected rise in inflation could strengthen expectations of a rate hold in December, Rong said.
Higher interest rates tend to make gold less appealing, as they yield no interest.
Some Fed policymakers last week expressed concerns that inflation progress may have stalled, advocating for caution, while others emphasized the need for continued rate cuts.
On the geopolitical front, Hezbollah fired heavy rockets at Israel on Sunday, following an Israeli airstrike that killed at least 29 in Beirut. There were reports of damage near Tel Aviv.
Spot silver fell 2.2% to $30.63 per ounce, platinum was down 1.2% to $952.00 and palladium slipped 1% to $998.88.