Germany’s Central Bank Displays Gold Bars Reserve

Germany's central bank displays its gold reserves. Picture source: Reuters
Germany's central bank displays its gold reserves. Picture source: Reuters
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Germany’s Central Bank Displays Gold Bars Reserve

Germany's central bank displays its gold reserves. Picture source: Reuters
Germany's central bank displays its gold reserves. Picture source: Reuters

Months after the Bundesbank, Germany's federal bank, reacquired much of its gold bullion reserves from abroad, the bank is presenting a portion of its treasure to the public for the first time.

Speaking of the current exhibition of the noteworthy bars of gold bullion and rare coins on display at the German Money Museum in Frankfurt, Carl-Ludwig Thiele, a board member of the bank, said: “Almost nothing attracts more public interest than that of pure gold,”

According to the German News Agency, among the displayed gold is one of the oldest gold bars from the German currency reserves, which was poured in London in 1917. "The exhibition completes the Bundesbank's transparency initiative on its gold," says Thiele.

After growing public pressure in 2013, the bank set itself the goal of holding at least half of the German reserves in its own vaults on home soil. Hundreds of bars from the vaults of the US Federal Reserve in New York and the Banque de France in Paris were brought back to Frankfurt. The relocation of the precious metals was completed in August.

Some 1,710 tons of the metal will continue to be stored on the premises of the Bundesbank in Frankfurt. Some German gold will remain in New York and London. Germany possesses 3,378 tons of gold, estimated to have a value of 141 billion dollars.

In the case of a major crisis, gold can be exchanged for currency. London is the largest trading center for the precious metal and the US dollar the most important international reserve currency.

The exhibition "Gold. Treasures at the Deutsche Bundesbank" will run until September 30, 2018, at the Money Museum of Bundesbank in Frankfurt, Germany.



Aramco Inaugurates Regional Center for Sustainable Fishery Development on Abu Ali Island

tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
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Aramco Inaugurates Regional Center for Sustainable Fishery Development on Abu Ali Island

tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco

Saudi Aramco announced on Thursday the inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture.

Through this collaboration, Saudi Aramco aims to highlight its investments in citizenship initiatives and its efforts to drive economic growth, support local fishermen and their livelihoods, build expertise, and adopt the best practices to enhance production and cultivate fish of marketable sizes that can compete globally.

The center is part of the company's broader efforts to protect marine life in the Arabian Gulf. It involves the establishment of a fish hatchery on Abu Ali Island in Jubail, located on the Arabian Gulf coast, designed to produce local fish species that have experienced population declines due to fishing practices and to reintroduce them into Gulf waters.

The center's operations are designed to encompass the complete fish life cycle within designated tanks, from broodstock for egg production to larval rearing using plankton produced on-site and finally to the release of juvenile fish into the Arabian Gulf. The hatchery employs advanced aquaculture technologies to ensure fish health, and it utilizes top-tier water recycling techniques to enhance performance and meet the company's circular economy objectives.

The project aligns with Saudi Aramco's mangrove plantation initiative, under which more than 43 million trees have been planted to date. Mangrove forests provide vital nursery habitats for the juvenile fish released into the Gulf, further supporting the sustainability of marine ecosystems.