Saudi-Japanese Business Council Discusses Investment Opportunities

Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
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Saudi-Japanese Business Council Discusses Investment Opportunities

Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)

The Saudi-Japanese business council convened in Riyadh on Sunday to explore avenues for strengthening the strategic partnership between the two nations across diverse economic sectors.

The meeting was headed by Saudi Minister of Investment Khalid Al-Falih and Japan's Minister of Economy, Trade and Industry Muto Yoji. It brought together several ministers, CEOs of major Saudi and Japanese companies, and representatives from both countries' public and private sectors.

Officials reviewed the significant achievements made since the seventh ministerial meeting within the Saudi-Japanese Vision 2030.

It explored numerous areas of growing cooperation and identified promising investment opportunities in vital sectors such as clean energy, financial services, critical minerals, special economic zones, health and biotechnology, water, e-sports, advanced and electronic industries, and more.

The meeting witnessed the signing of 13 memoranda of understanding, demonstrating the growing momentum in bilateral cooperation. The agreements, covering healthcare, infrastructure, and logistics sectors, were signed between government and private sector entities and amongst private sector companies from both countries.



Gold Gains on Softer Dollar as Investors Weigh Trump Tariff Impact

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
TT

Gold Gains on Softer Dollar as Investors Weigh Trump Tariff Impact

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices rose on Tuesday, helped by a softer US dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could influence the pace of Federal Reserve monetary policy easing this year.

Spot gold was up 0.3% to $2,668.79 per ounce as of 1200 GMT. US gold futures gained 0.1% to $2,682.30.

"Gold prices are benefiting from reports that the incoming Trump administration is considering a gradual implementation of tariff increases to mitigate their impact on inflation," said Ricardo Evangelista, senior analyst at ActivTrades, referring to a Bloomberg report.

"This news led to a slight decline in US Treasury yields and a weakening of the dollar."

The dollar index fell 0.3% from a more than two-year high hit in the last session as traders scaled back US rate cut bets for 2025 after a strong jobs report. A softer dollar makes gold more affordable for buyers using other currencies, Reuters reported.

Investors are looking out for US Producer Price Index (PPI) data at 1330 GMT and Consumer Price Index (CPI) numbers due on Wednesday. A Reuters poll of economists gives a median forecast for an annual rise in CPI of 2.9%, up from November's 2.7%.

Also due is US retail sales on Thursday for further insights into the economy and the Fed's 2025 policy trajectory.

"If inflation increases again based on Trump´s spending policy, we may even see no cuts at all in the mid-term," said Henrik Marx, head of precious metals trading at Heraeus Precious Metals Germany.

Bullion is used as a hedge against inflation, although higher interest rates reduce the non-yielding asset's appeal.

Elsewhere, spot platinum was down 0.4% to $949.80.

"We look for platinum to be under-supplied by 500,000 ounces, or 6.4% of demand, in 2025," UBS said in a note.

Spot silver firmed 0.5% to $29.75 per ounce and palladium climbed 0.5% to $943.70.