Bahrain Inaugurates Tatweer Petroleum Solar Power Plant

Bahrain Inaugurates Tatweer Petroleum Solar Power Plant . Supplied via AAAWSAT AR
Bahrain Inaugurates Tatweer Petroleum Solar Power Plant . Supplied via AAAWSAT AR
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Bahrain Inaugurates Tatweer Petroleum Solar Power Plant

Bahrain Inaugurates Tatweer Petroleum Solar Power Plant . Supplied via AAAWSAT AR
Bahrain Inaugurates Tatweer Petroleum Solar Power Plant . Supplied via AAAWSAT AR

Bahrain's Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa, inaugurated Tatweer Petroleum’s 3 Megawatt Solar Power Plant on Tuesday.

“The Kingdom of Bahrain is dedicated to fulfill its commitments to the United Nations Framework Convention on Climate Change, in terms of developing programs and plans to protect the environment in various vital sectors due to its impact on the country and citizens,” the minister said.

Shaikh Mohammed Al Khalifa expressed appreciation regarding Tatweer’s contribution to the Bahrain's goal in maintaining the use of renewable energy for its operations by 5% by 2025 in line with the strategic objectives of NOGA to achieve Bahrain vision 2030.

The oil minister and a number of senior officials, have unveiled the station’s commemorative plaque and were accompanied in a tour to observe the station facilities.

Tatweer Petroleum company established a solar power plant in February 2016 with an estimated capacity of 1 MW to provide enough electricity to meet the total energy requirements of the company's headquarters in the region.



Gold Extends Gains as Trump Tariffs Fuel Safe Haven Flows

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
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Gold Extends Gains as Trump Tariffs Fuel Safe Haven Flows

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold prices rose for a second straight session on Tuesday, but traded below the recent all-time highs, as uncertainty around US President Donald Trump's tariff plans continued to fuel economic growth concerns and safe haven flows into bullion.

Spot gold gained 0.6% at $2,913.79 an ounce as of 0714 GMT. It hit a record high of $2,942.70 last week.

US gold futures added 0.9% to $2,925.50.

"Trump's disruptive modus operandi, aggressive rhetoric and tariffs - whether actual or threatened - could unravel global trade and intricate supply chains," said Nikos Tzabouras, senior financial writer at trading platform Tradu, Reuters reported.

"With uncertainty surrounding the global economy and the broader geopolitical landscape in the Trump 2.0 era, gold is set to remain a natural beneficiary of risk-off flows and central bank buying."

Since taking office last month, Trump has swiftly redrawn the global trade battlefield with a series of tariffs, while plans are already in motion for sweeping reciprocal tariffs, aimed squarely at any nation that taxes US products.

"Gold continues to benefit from the uncertainty surrounding the US. government's tariff policy. Central bank buying should also continue to provide support, even if there is no new data on this," Commerzbank analysts said in a note.

The market's focus has now shifted to the US Federal Reserve's January meeting minutes due on Wednesday for clues into the central bank's interest rate trajectory.

"Price gains are also supported by growing expectations that the Fed will cut rates in 2025 - a sentiment that gained further traction among traders after last week's disappointing US retail sales figures," Ricardo Evangelista, senior analyst at brokerage firm ActivTrades, said.

Bullion benefits from geopolitical and economic uncertainties, as well as rising price pressures, but higher interest rates diminish the asset's allure.

Spot silver fell 0.9% to $32.50 an ounce. Platinum jumped 0.9% to $985.20 and palladium climbed 1.6% to $978.00.