Dollar and Other Safe Havens Rise as Israel Strikes Iran

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 and Other Safe Havens Rise as Israel Strikes Iran

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 rallied alongside the safe-haven Japanese yen and Swiss franc, with currency markets abruptly reversing direction on news Israel had launched strikes on Iran.

Israel has begun carrying out strikes on Iran, two US officials told Reuters, adding that there was no US assistance or involvement in the operation. Another report suggested that explosions were heard northeast of Iran's capital Tehran.

An index that measures the dollar against six other currencies gained 0.4%, and was last at 98.07, in early Asia trading.

Against the yen, the dollar slipped 0.35% to 143 per dollar , while the Swiss franc tumbled 0.39% to 0.807 per dollar.

Risk-sensitive Asian currencies such as the Aussie dollar and the New Zealand dollar weakened 0.9% each, Reuters reported.

Earlier in the week, the dollar index hit multi-year lows as investors were not impressed by a US-China trade truce, while cooler-than-expected inflation data fuelled expectations of more aggressive interest rate cuts by the Federal Reserve.

The dollar is on track for weekly declines against the yen, the Swiss franc and the euro.

Crude prices jumped more than $4 on the news as investors priced in potential supply disruptions from the oil-rich region, while gold prices climbed 0.8% to their strongest since early May.



Gulf States Accelerate Adoption of Unified Digital Government Platforms

A Tawakkalna app events in Saudi Arabia (Asharq Al-Awsat)
A Tawakkalna app events in Saudi Arabia (Asharq Al-Awsat)
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Gulf States Accelerate Adoption of Unified Digital Government Platforms

A Tawakkalna app events in Saudi Arabia (Asharq Al-Awsat)
A Tawakkalna app events in Saudi Arabia (Asharq Al-Awsat)

Gulf governments are moving swiftly to leverage modern technology in reshaping citizen-government relations, with a strong push toward digital transformation and more efficient, user-centric public services.

At the forefront of this shift are unified government applications that constitute comprehensive digital platforms that combine smart technology with seamless usability.

According to a recent study by Strategy& Middle East, a member of the PwC network, these platforms are no longer optional but have become strategic necessities.

The study, titled “Unified Government Apps: Smart Choices for Services and Cost Control,” highlights that citizens and residents can now complete services such as issuing birth certificates, renewing business licenses, or applying for social support within minutes, without physically visiting a government office.

Tawakkalna: A Saudi Model

Saudi Arabia’s Tawakkalna app, originally launched as a health tool during the COVID-19 pandemic, has since evolved into a comprehensive digital gateway offering over 1,100 government services.

Dr. Esam Al-Wagait, Director of the National Information Center at the Saudi Data and Artificial Intelligence Authority (SDAIA), noted the Kingdom’s aim to build a proactive digital government powered by AI.

“We are creating an integrated system that uses advanced technology to predict citizen needs and deliver personalized experiences aligned with smart and sustainable city goals,” he said.

Engineer Saleh Mosaibah, Deputy Director of the National Information Center, added that unified platforms enhance inter-agency collaboration, reduce operational costs, strengthen cybersecurity, and boost Saudi Arabia’s regional and global competitiveness.

Challenges and Solutions

Despite progress, the study noted operational and technical challenges remain, particularly around user expectations for faster, smoother service. Repeated logins and redundant data entry were identified as key obstacles.

Engineer Hani Zein, Partner at Strategy& Middle East, stressed the need for seamless, single-entry platforms powered by artificial intelligence.

“Unified interfaces are the future. They improve service delivery, enhance quality of life, and align with Gulf digital transformation goals,” he said.

Investment and Private Sector Integration

Experts stress that building such applications requires significant investment in IT infrastructure, data integration, and cybersecurity. “These are not just tech expenses, they are investments in smarter, more cost-efficient governance,” said Mosaibah.

The private sector also presents growth opportunities. Licensed companies could offer services through government platforms for a fee, or strategic partnerships could bring in private funding and innovation without straining public budgets.

Building a Sustainable Model

To ensure sustainability, Zein recommends a three-pillar approach: an agile operational model inspired by startups, strong legal and financial frameworks, and robust risk management systems. These foundations, he said, enable governments to move quickly, innovate freely, and maintain public trust.

With the right strategy, Zein and Mosaibah believe Saudi Arabia is well-positioned to set global standards for integrated digital government, offering a world-class experience for citizens and residents alike.