The Red Sea Development Company Launches Training Program

The Red Sea Development Company Launches Training Program
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The Red Sea Development Company Launches Training Program

The Red Sea Development Company Launches Training Program

The Red Sea Development Company (TRSDC) has announced the launch of the alumni elite program which aims to qualify trainees to occupy future jobs that include hospitality, smart destinations, environmental sustainability, project completion, governance, and legal affairs.

TRSDC, in a statement, said the program, which is slated to launch on January 13, 2020, aims to provide trainees with practical experience through assigned tasks and through working in several departments of the company. This aims to expand the participants’ professional and cognitive skills.

Vocational guidance, training, and job simulation, as well as training courses related relative to disciplines, will also be provided.

The program includes the presence of a supervisor to determine the schedule of the program and the training course for each applicant wishing to enroll.

Applicants are committed to achieving up 70% on-the-job training, 20% career guidance and 10% general training courses.

In addition, trainees will sign employment contracts for jobs that match their qualifications and skills and start working.

The company said that the program’s applicants, which will undergo a two-year period of training, will have the opportunity to develop their skills and find employment in line with TRSDC goal of providing employment opportunities for Saudi nationals.



Gold Prices Retreat from Record High as Investors Cash In

A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
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Gold Prices Retreat from Record High as Investors Cash In

A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Gold prices pulled back from a record high on Thursday as investors booked profits following a rally driven by concerns around US President Donald Trump's latest wave of tariff policies.

Spot gold was down 0.3% at $3,331.73 an ounce, as of 1120 GMT, after touching a record $3,357.40 earlier in the session. Bullion has gained nearly 3% this week.

US gold futures were steady at $3,346.30.

"Likely the reversal off fresh all-time highs can be attributed to some profit-taking on the highs. A slightly firmer tone to an otherwise weak US dollar likely took the edge off gold," said Ross Norman, an independent analyst, Reuters reported.

"Price dips are well bought into, suggesting underlying sentiment is very positive."

The dollar index recovered from near a three-year low on Thursday, making gold more expensive for holders of other currencies.

Gold rose 3.6% on Wednesday, driven by Trump's order to open a probe into potential tariffs on all critical mineral imports, in addition to reviews into pharmaceutical and chip imports.

Meanwhile, US Federal Reserve Chair Jerome Powell said on Wednesday the Fed would wait for more data before changing interest rates, while also cautioning that Trump's tariff policies risked pushing inflation further from the central bank's goals.

Gold, traditionally viewed as a hedge against inflation, also tends to thrive in a low-interest rate environment.

"The market's interpretation seems to be that gold would benefit either way," said Carsten Menke, an analyst at Julius Baer.

Demand for physical gold was tepid in India this week as a blistering price rally curbed purchases, while premiums held firm in top consumer China.

"Reduced participation in the rally by traditional gold buyers might signal the move is nearer the end than the beginning. But it’s hard to see a scenario where gold would correct lower just now, other than being technically overbought and overextended," Norman said.

Spot silver dropped 1.1% to $32.39 an ounce, platinum shed 1.4% to $954.12, and palladium fell 2.5% to $949.26.