Bahrain to Host Middle East Catalyst Technology Conference

Saudi Aramco's Wasit Gas Plant, Saudi Arabia. (Reuters)
Saudi Aramco's Wasit Gas Plant, Saudi Arabia. (Reuters)
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Bahrain to Host Middle East Catalyst Technology Conference

Saudi Aramco's Wasit Gas Plant, Saudi Arabia. (Reuters)
Saudi Aramco's Wasit Gas Plant, Saudi Arabia. (Reuters)

Middle East Catalyst Technology Conference (ME- CAT 2017) will take place in Bahraini capital, Manama on December 6-7 with the participation of several local, regional and international specialized technicians and engineers.

The conference is organized by Bahrain Petroleum Company (Bapco) in cooperation with the National Oil and Gas Authority.

A large number of experts and engineers interested in the various aspects of the oil industry from all over the world will meet to discuss the technological processes in the petroleum refining industry.

Bahraini Oil Minister Sheikh Mohammed bin Khalifa Al Khalifa stated that the first edition of the series of conferences of the Middle East Catalyst Technology Conference contributes to the development of exchange of information, experience and expertise and a review of best practices in all areas and disciplines of the relationship.

The minister expected the global catalyst market to reach $33 billion dollars by 2018, and pointed that developments in the areas of refining and petrochemicals and chemicals and environmental factors contributed to the growth and increasing demand for motivating factors in world markets.

The participants in the conference will discuss a number of important topics in the oil industry, as well as review ways to develop databases on the performance of this kind of commercial catalytic materials to suit the needs of oil refineries and oil companies in the world. In addition, they will review the best practices in the manufacture of catalytic materials and to invest in developing the oil industry in the region.



Gold Heads for Weekly Fall as Fewer Fed Rate Cut Prospects Weigh

Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
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Gold Heads for Weekly Fall as Fewer Fed Rate Cut Prospects Weigh

Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo

Gold prices fell on Friday and were on track for a weekly decline, as an overall stronger dollar and the prospect of fewer US interest rate cuts offset support from rising geopolitical risks in the Middle East.

Spot gold slipped 0.8% to $3,333.99 an ounce, as of 0604 GMT, and was down 2.5% for the week so far.

US gold futures shed 1.4% to $3,361.80.

Describing the situation in the Middle East as "fluid", Kelvin Wong, senior market analyst, Asia Pacific, at OANDA, said it is causing traders to avoid taking aggressive positions both on the long and the short side of the trade spectrum, reported Reuters.

US President Donald Trump will decide in the next two weeks whether the US will get involved in the Israel-Iran air war, the White House said on Thursday, raising pressure on Tehran to come to the negotiating table.

Meanwhile, Trump reiterated his calls for the US Federal Reserve to cut interest rates, saying it should be 2.5 percentage points lower.

The Fed held rates steady on Wednesday, and policymakers retained projections for two quarter-point rate cuts this year.

"Macroeconomic developments, particularly steady yields and renewed USD strength, have not supported the (gold) price," analysts at ANZ said in a note.

"Rising inflation expectations and the Fed's cautious stance have weighed on market expectations around the number of rate cuts this year."

The dollar was set to log its biggest weekly rise in over a month on Friday. A stronger greenback makes gold more expensive for other currency holders.

Elsewhere, spot silver slipped 2.1% to $35.61 per ounce, while palladium fell 0.8% to $1,042.04. Platinum fell 1.9% to $1,282.72, but was heading for its third straight weekly rise.