عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Riyadh to Host CoMotion Global Event in Q4 2025 

The Saudi capital, Riyadh, on November 15, 2024. (Reuters)
The Saudi capital, Riyadh, on November 15, 2024. (Reuters)
TT
TT

Riyadh to Host CoMotion Global Event in Q4 2025 

The Saudi capital, Riyadh, on November 15, 2024. (Reuters)
The Saudi capital, Riyadh, on November 15, 2024. (Reuters)

The Saudi Conventions and Exhibitions General Authority (SCEGA) announced on Thursday that Riyadh will host the CoMotion Global event in the fourth quarter of 2025, marking the first time the event will be held in the Middle East.

This hosting is a direct result of SCEGA’s ongoing efforts to develop the business events sector and attract impactful global gatherings, in line with the Kingdom’s strategy to boost its position as a global hub for events and conferences.

The move reflects the maturity of Saudi Arabia’s events sector and its growing significance on the international stage. It is one of the key enablers in achieving the goals of Saudi Vision 2030 by supporting innovation, enabling knowledge exchange, and attracting investment in transformative sectors.

The Riyadh edition of CoMotion will bring together global leaders in infrastructure, sustainability, urban technologies, and smart mobility through high-level panel discussions, innovative presentations, and strategic networking opportunities. The event will spotlight the Kingdom’s mega projects and investments in smart infrastructure.

Hosting CoMotion underscores Saudi Arabia’s comprehensive approach to attracting global events through targeted promotion, incentive packages, and an ambitious national vision.

The events and conferences sector has seen over 44% growth over the past five years, and the Kingdom is expected to welcome more than 8 million business visitors annually by 2030.

Most Viewed

 
 
Business

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia
TT
TT

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

Aramco Digital, the technology subsidiary of Saudi Aramco, is set to launch the Kingdom’s national industrial communications network operating in the 450 MHz band. Designed to deliver secure, highly reliable industrial connectivity across Saudi Arabia, the network will support sectors that require continuous operations and dependable communications for critical assets and facilities.

As part of the launch, Aramco Digital will introduce a comprehensive portfolio of 450 MHz-based industrial digital solutions, including tailored connectivity packages for various sectors and a new generation of smart radios developed specifically for demanding industrial environments, SPA reported.

These smart radios combine rugged, industrial-grade design with advanced capabilities such as AI, enhanced sensing technologies, extended battery life through improved energy efficiency, and real-time data processing at the device level. Together, these features will support operational accuracy, reliability, and continuity in complex operating conditions.

The network will enable a broad range of Industrial Internet of Things (IIoT) applications, including asset condition and performance monitoring, fleet and equipment tracking, air quality and environmental sensing, smart video surveillance, smart metering, lighting and infrastructure control, and industrial mobility and fleet management solutions. These capabilities will enhance operational transparency, support automation, and improve efficiency across both industrial and service sectors.

The network is intended to underpin the Kingdom’s next phase of industrial development and support the objectives of Saudi Vision 2030. By providing a highly reliable national communications infrastructure, the network will enable advanced automation, intelligent systems, and digital services in vital sectors.

Business

Oil Rises as Market Focuses on Venezuela and US Sanctions Plans

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
TT
TT

Oil Rises as Market Focuses on Venezuela and US Sanctions Plans

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev

Oil prices rose on Thursday after two days of declines as investors assessed Venezuela developments and reports on progress of proposed US sanctions legislation against countries doing business with Russia.

Brent crude futures were up 59 cents, or 0.98%, at $60.55 a barrel by 1038 GMT. US ‌West Texas Intermediate ‌crude gained 58 cents, or 1%, ‌to $56.57.

Higher ⁠prices ​are ‌led by the US President allowing the Russia sanctions bill to advance, as it raises fears of further disruption to Russian oil exports, said PVM analyst Tamas Varga. Republican Senator Lindsey Graham said on Wednesday that Trump had given the green light on the legislation, adding that the bill could be put ⁠to a vote as early as next week.

Both benchmarks fell more than ‌1% for a second day on Wednesday, ‍with market participants expecting ‍abundant global supply this year. Analysts at Morgan Stanley forecast ‍a surplus of as much as 3 million barrels per day in the first half of 2026. US gasoline and distillate stocks increased by more than analyst expectations in the week ended January ​2, while crude stocks fell, the Energy Information Administration said on Wednesday. On Tuesday, Washington announced a deal with ⁠Caracas to gain access to up to $2 billion of Venezuelan crude. The deal initially could require the rerouting of cargoes that were bound for China, sources told Reuters. Chinese independent refiners that consume much of the country's Venezuelan imports could switch to Iranian oil to make up the shortfall. The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one sailing under Russia's flag, as part of President Donald Trump's aggressive push to dictate oil flows in the Americas and force ‌Venezuela's socialist government to become an ally.

Business

Gold Falls as Commodity Index Rebalancing Sparks Selling Pressure

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola//File Photo
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola//File Photo
TT
TT

Gold Falls as Commodity Index Rebalancing Sparks Selling Pressure

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola//File Photo
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola//File Photo

Gold prices fell on Thursday as investors braced for futures selling tied to a commodity index reshuffle, with a stronger US dollar adding pressure by making the metal costlier for overseas buyers.

Spot gold fell 0.6% to $4,428.06 per ounce, as of 1115 GMT. US gold futures for February delivery fell 0.6% to $4,436.30.

"Gold and silver remain under pressure as the annual commodity-index ‌rebalancing gets ‌underway. Over the next five days, COMEX ‌futures ⁠could ​see ‌selling in the region of $6 to $7 billion in each metal," said Ole Hansen, head of commodity strategy at Saxo Bank.

The annual Bloomberg Commodity Index rebalancing, designed to keep the index aligned with the current state of the global commodity market, begins this week, Reuters reported.

"(The US-Venezuela conflict) added a small georisk premium at the beginning of ⁠the week which is now deflating as the attention turns to the rebalancing," ‌Hansen added.

Meanwhile, the US dollar hovered ‍near a one-month high ‍as investors assessed mixed economic data ahead of Friday’s nonfarm payrolls ‍report.

Data on Wednesday showed US job openings dropped to a 14-month low in November while hiring resumed its sluggish tone, pointing to ebbing labor demand.

Investors are now awaiting the US non-farm payrolls data for ​more clues on monetary policy, with markets pricing in two interest rate cuts by the Federal Reserve ⁠this year.

On the geopolitical front, the US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday.

Spot silver lost 3.2% to $75.64 per ounce, after hitting an all-time high of $83.62 on December 29.

HSBC sees gold hitting $5,000 per ounce in the first half of 2026 on geopolitical risks and rising fiscal debts, and expects silver to trade between $58 and $88 in 2026, driven by supply deficits, robust investment demand, and high gold prices, but warned of a market correction later in the year.

Spot platinum was ‌down 4.2% at $2,211.94 per ounce, while palladium shed 2.4% to $1,721.61 per ounce.