AlUla Agrees to Enhance Palm, Date Production Ahead of Global Promotion

The Royal Commission for AlUla signs an MoU to enhance the palm and date sector. (SPA)
The Royal Commission for AlUla signs an MoU to enhance the palm and date sector. (SPA)
TT
20

AlUla Agrees to Enhance Palm, Date Production Ahead of Global Promotion

The Royal Commission for AlUla signs an MoU to enhance the palm and date sector. (SPA)
The Royal Commission for AlUla signs an MoU to enhance the palm and date sector. (SPA)

The Royal Commission for AlUla (RCU) signed a memorandum of understanding with the National Center for Palms and Dates (NCPD) to boost the palm and date sector.

The MoU also aims to achieve production efficiency from AlUla dates, ahead of promoting them locally and internationally.

The agreement includes improving the quality of the palm and dates sector in AlUla to produce crops of high economic value.

It also studies the establishment of centers dedicated to providing services to farmers, setting up workshops for them and those interested, and enabling distributors to market their produce through e-commerce.

Agriculture is one of the main economic sectors included in the Journey Through Time Masterplan, which aligns with the Vision for AlUla, and is in line with the Kingdom’s Vision 2030 to promote sustainable development in the governorate by investing all available factors in creating a diverse and prosperous economy.

Under the memorandum, the two parties will work to enhance understanding in their familiar fields, including inviting investors and those interested in the palm and dates sector to participate in the annual festival of dates in AlUla.

In addition, it includes presenting distinguished business models for existing facilities and services and motivating AlUla farmers to obtain the Saudi dates mark.

CEO of the National Center for Palms and Dates Mohammad al-Nuwairan said AlUla farms have a qualitative production center for many types of dates, which are very popular in the local and international market.

AlUla boasts more than two million palm trees with production exceeding 90,000 tons of dates annually.



Gold Hovers Near Three-week Lows before Jackson Hole Summit

A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo
A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo
TT
20

Gold Hovers Near Three-week Lows before Jackson Hole Summit

A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo
A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo

Gold ticked up on Wednesday but hovered near three-week lows, as investors looked towards the minutes of the Federal Reserve's July meeting and the Jackson Hole symposium of central bankers this week for cues on further rate cuts.

Spot gold was up 0.4% at $3,329.89 per ounce, as of 1140 GMT, after reaching its lowest level since August 1.

US gold futures for December delivery rose 0.4% to $3,372.80.

The US dollar index was steady after climbing to a more than one-week high earlier in the session, making gold more expensive for holders of other currencies.

"Spot gold is likely to adhere to its sideways range until the Fed can resume its rate-cutting cycle, while the dollar’s month-to-date resilience is also making it harder for it to embark higher," said Han Tan, chief market analyst at investment trading platform Nemo.Money, Reuters reported.

Minutes of the Fed's July meeting, due later in the day, were anticipated to offer further insights into the central bank's economic outlook.

"Markets will be looking out for further clues about the dissenting voices from the last FOMC meeting. Gold could even see a slight lift prior to Jackson Hole, should the FOMC minutes show that the dissenting voices at the previous Fed policy meeting were louder than envisioned," Tan said.

Fed chair Jerome Powell is due to speak at the central bank's annual research conference in Jackson Hole, Wyoming, on Friday.

Gold typically performs well when interest rates are low and during times of economic and geopolitical uncertainty.

On the international front, US President Donald Trump ruled out deploying ground troops to Ukraine on Tuesday but suggested air support could be part of a deal to end Russia's war in the region.

Ukrainian President Volodymyr Zelenskiy said the White House talks were a "major step forward" towards ending the conflict and setting up a trilateral meeting with Russian President Vladimir Putin and Trump.

Elsewhere, spot silver fell 0.6% to $37.13 per ounce, platinum gained 1.1% to $1,319.81 and palladium was down 0.4% at $1,111.17.