C20 Group Submits Final Statement to G20 Summit

Prince Abdul Aziz bin Salman, the Saudi energy minister. (File/AFP)
Prince Abdul Aziz bin Salman, the Saudi energy minister. (File/AFP)
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C20 Group Submits Final Statement to G20 Summit

Prince Abdul Aziz bin Salman, the Saudi energy minister. (File/AFP)
Prince Abdul Aziz bin Salman, the Saudi energy minister. (File/AFP)

Saudi Minister of Human Resources and Social Development Ahmed Al-Rajhi received the closing statement of the civil society engagement group for the G20 countries on behalf of Custodian of the Two Holy Mosques King Salman bin Abdulaziz.

The C20 group wrapped up on Saturday the work of this year's civil society summit chaired by Saudi Arabia, which was held virtually during the past four days, with the presence of more than 20,000 participants from 109 countries around the world.

The summit’s agenda had 65 discussion sessions and workshops, in which the more than 380 speakers included representatives of the governments of twenty countries, international civil society organizations, and specialized international organizations, as well as experts and decision-makers.

Prince Abdul Aziz bin Salman, the minister of energy, participated in a special dialogue on the future of green energy.

A number of representatives of the Saudi presidency of the G20 countries also took part in the summit, including Fahd Al-Mubarak, minister of state.

"We won’t be part of the problem, nor part of the solution. Our goal is to be pioneering in finding solutions," Prince Abdul Aziz bin Salman said.

He affirmed that the Kingdom has been tirelessly pushing towards an international commitment to endorse the Circular Carbon Economy in efforts for a sustainable and clean environment.



Dollar Hovers as Investors Focus on Israel-Iran Conflict ahead of Fed Decision

US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo
US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo
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Dollar Hovers as Investors Focus on Israel-Iran Conflict ahead of Fed Decision

US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo
US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo

The US dollar dipped against the yen and steadied against the Swiss franc on Wednesday, as fighting between Israel and Iran prompted investors to scoop up safe havens, while a Federal Reserve decision later on rates kept volatility subdued.

Israel has bombarded arch-enemy Iran over the past six days to halt its nuclear activity and has asserted the need for a change of government in the Islamic Republic.

The US military is also bolstering its presence in the region, Reuters reported, stirring speculation about US intervention that investors fear could widen the conflict in an area with critical energy resources, supply chains and infrastructure.

Iranian Supreme Leader Ali Khamenei said in a statement read by a state television presenter on Wednesday that his country would not accept US President Donald Trump's call for an unconditional surrender.

The dollar has resumed its role as a safe haven, having gained around 1% against both the Japanese yen and Swiss franc since last Thursday. On Wednesday, theurrency took a breather, edging fractionally lower against the yen and the franc and more noticeably so against the euro and the pound.

"The dollar is still a safe haven because of its depth and liquidity, so, yes, the structural forces are diluting the dollar safe-haven activities, but they're not eroding them completely," said currency strategist Rodrigo Catril at National Australia Bank.

"But in a scenario of big risk aversion, the dollar will still gain support, but maybe not to the same extent it has managed in the past."

Against a basket of six other major currencies, the dollar is still down around 8% so far this year, as confidence in the US economy and the reliability of Trump's administration as a trading and diplomatic partner has faded.

With the Fed's decision on interest rates just hours away and US markets closed on Thursday for the Juneteenth federal holiday, activity in currencies was muted.

Against the yen, the dollar fell 0.3% to 144.845 and was steady against the franc at 0.8175 francs.