Marrakesh Hosts 2nd Annual North Africa Investor Conference

A view of Marrakesh, Morocco. (Getty Images)
A view of Marrakesh, Morocco. (Getty Images)
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Marrakesh Hosts 2nd Annual North Africa Investor Conference

A view of Marrakesh, Morocco. (Getty Images)
A view of Marrakesh, Morocco. (Getty Images)

Marrakesh will host the second Annual North Africa Investor Conference on Jan. 23-22, with the participation of international investors representing Asia, Europe, Africa and the Middle East.

Renaissance Capital (RenCap), which initiated the conference, noted that this year’s session will cover topics such as competitiveness, and manufacturing in the MENA region. Special emphasis will be put on investment and growth opportunities in Morocco and Egypt.

This edition will witness the participation of giant investors from Mauritius, Singapore, South Africa, Sweden, Switzerland, the UAE, UK, US and other countries.

RenCap revealed that the total financial assets under management for participating investors exceed USD2 trillion.

It added that businessmen and companies from Egypt and Morocco booked 200 appointments with investors in the conference.

Amr Helal, Chief Executive Officer at Renaissance Capital, stated that choosing Morocco to host the conference launched from its progress in manufacturing in addition to being one of the most stable countries politically and economically.

Helal added that Morocco is anticipated to witness an economic growth from 4-6 percent in this decade. This would provide investment opportunities, given the Moroccan strategy in manufacturing.

He continued that the conference will also include an international seminar on manufacturing under a new economic approach. Political and industrial decision-makers, as well as prominent figures and businessmen from the region and the world, will take part in it.

Renaissance Capital had held the first Annual North Africa Investor Conference in South Africa in April. The focus of the conference was on Egypt, where RenCap opened a branch a year ago.



Gold Rebounds on Dip Buying; US-China Trade Talks in Focus

A one kilogram gold cast bars with 99.99% purity is pressed and ready for sale at the ABC Refinery in Sydney, Australia, Wednesday, April 30, 2025. (AP Photo/Mark Baker)
A one kilogram gold cast bars with 99.99% purity is pressed and ready for sale at the ABC Refinery in Sydney, Australia, Wednesday, April 30, 2025. (AP Photo/Mark Baker)
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Gold Rebounds on Dip Buying; US-China Trade Talks in Focus

A one kilogram gold cast bars with 99.99% purity is pressed and ready for sale at the ABC Refinery in Sydney, Australia, Wednesday, April 30, 2025. (AP Photo/Mark Baker)
A one kilogram gold cast bars with 99.99% purity is pressed and ready for sale at the ABC Refinery in Sydney, Australia, Wednesday, April 30, 2025. (AP Photo/Mark Baker)

Gold prices firmed on Friday as investors bought bullion following an earlier dip in the session, while markets turned their focus to US-China trade talks this weekend.

Spot gold was up 0.3% to $3,316.29 an ounce, as of 0448 GMT. US gold futures firmed 0.5% to $3,321.60.

Spot gold retreated earlier in the session, touching a low of $3,274.38, as US President Donald Trump announced a trade deal with the UK on Thursday.

Trump and British Prime Minister Keir Starmer announced a "breakthrough deal". A 10% tariff on goods imported from the UK remains in place, while Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to US goods.

"Buying gold on dips is still in vogue, which is so far limiting the downside moves despite safe haven demand drying up to a degree on the US-UK trade deal," KCM Trade Chief Market Analyst Tim Waterer said.

"How the US-China trade talks develop could be key in determining which side of $3,300 gold trades at next week."

Trump also said he expects there to be substantive negotiations between the US and China on trade this weekend and predicted that punitive US tariffs on Beijing of 145% would likely come down, Reuters said.

Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low interest rate environment.

Several US Federal Reserve officials are due to speak later in the day for further insights into the economy and the central bank's policy path. This comes after the Fed held interest rates steady on Wednesday and warned of rising inflation and unemployment risks.

Meanwhile, Indian gold dealers offered discounts this week amid weak demand as a softer rupee lifted local prices to near-record highs, while buying in China picked up after a holiday.

Spot silver was steady at $32.48 an ounce, platinum rose 0.5% to $980.55 and palladium gained 0.2% to $978.21.