UAE Joins Resilient Network of Countries, Governments

A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar
A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar
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UAE Joins Resilient Network of Countries, Governments

A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar
A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar

The UAE government signed the Resilient Government Charter, to join the network of resilient countries and governments.

The network was established in partnership between the World Economic Forum and the Organization for Economic Cooperation and Development, and it includes alongside the UAE, the United Kingdom, Canada, Italy, Singapore, Japan, and Denmark.

Mohammed Abdullah Al Gergawi, minister of cabinet affairs, affirmed that building the next generation of future governments requires boosting partnerships among governments in developing methodologies on the basis of proactive and high readiness for changes.

It also demands cementing cooperation in the ability to adapt to future requirements, which will contribute to achieving higher levels of government resilience -- this reflects positively on societies.

The network of resilient countries and governments aims to enhance innovation, flexibility, and readiness for the future in the governmental work system, and to develop a system of future opportunities.

It seeks to make use of technological solutions and the tools of the fourth industrial revolution, in order to contribute to strengthening global efforts on finding solutions to common challenges and achieving comprehensive sustainable development.

Ohoud Bint Khalfan Al-Roumi, minister of state for government development and the future, signed the Resilient Government Charter during her participation in a virtual dialogue session held by the World Economic Forum in partnership with the Organization for Economic Cooperation and Development, remotely.

The session was entitled “Resilient Governance after the COVID-19 Pandemic”, and it reviewed ways to redesign the system of legislation and laws to enhance the readiness of countries for the future, and enable them to keep pace with global changes and trends.

A total of 15 speakers participated, representing the elite of government officials and specialists from the private sector in future foresight and innovation.

Ohoud affirmed that building the future of governments requires developing business models based on flexible governance, innovation, and readiness.

The minister added that the UAE government is building on achievements that have strengthened the development process over the past years, through digital transformation initiatives, smart government, and flexible methodology.

Paula Pisano, minister of technological innovation and digitization in Italy, said that the Italian government supports the adoption of innovative concepts in various vital sectors, through the launch of the “Sperimentazione Italia” initiative.

This initiative is a targeted platform for engaging and supporting companies, universities, and research institutions to test local and global innovations.

Jeffrey Schlaggenhoff, deputy secretary-general of the Organization for Economic Cooperation and Development, emphasized that governments face many challenges in the health and economic sectors as a result of the “COVID-19” pandemic, which confirms their need to make a quantum leap in decision-making processes and to develop solutions that enhance their readiness and flexibility against challenges.



Gold Prices Climb on Safe-Haven Demand; US Payrolls Data in Focus

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Prices Climb on Safe-Haven Demand; US Payrolls Data in Focus

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices climbed on Friday, supported by safe-haven demand arising from the Middle East conflict, while spotlight shifted towards US payrolls report to gauge the trajectory of the Federal Reserve's policy path.
Spot gold was up 0.3% at $2,662.50 per ounce, as of 0325 GMT, after climbing to an all-time high of $2,685.42 on Sept. 26. Bullion has gained 0.2 for the week.
US gold futures edged 0.1% higher to $2,682.10.
The dollar eased 0.1%, pulling back from over a one-month high, making greenback-priced bullion less expensive for other currency holders, reported Reuters.
Geopolitical tensions, particularly concerning Israel and Iran, are supporting gold prices and unless these risks subside, prices are likely to remain near record levels, said Ajay Kedia, director at Kedia Commodities, Mumbai.
The US is discussing strikes on Iran's oil facilities as retaliation for Tehran's missile attack on Israel, President Joe Biden said, while Israel's military hit Beirut with new air strikes in its battle against Lebanese armed group Hezbollah.
Bullion is considered a safe investment during times of political and financial uncertainty, and thrives in a low-rate environment.
The US nonfarm payroll data is due at 1230 GMT. New York Fed President John Williams and Chicago Fed President Austan are also scheduled to speak later in the day.
If the NFP report comes in strong, it will be positive for the dollar and then gold prices will see some profit-booking, Kedia added.
Traders see a 69% chance of a 25-basis-point Fed rate cut in November, according to CME FedWatch Tool.
BMI said in a note it expects gold prices to trade within the range of $2,500 to $2,800 in the coming months.
Spot silver rose 0.4% to $32.17 per ounce and has gained about 1.8% so far this week.
Platinum climbed 1.1% to $1,001.79 and palladium advanced 1.4% to $1,013.46.