Saudi Arabia Strengthens Partnerships in Innovation, Technology with G20

Saudi Arabia seeks to activate global partnerships in digital and space economies (Asharq Al-Awsat)
Saudi Arabia seeks to activate global partnerships in digital and space economies (Asharq Al-Awsat)
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Saudi Arabia Strengthens Partnerships in Innovation, Technology with G20

Saudi Arabia seeks to activate global partnerships in digital and space economies (Asharq Al-Awsat)
Saudi Arabia seeks to activate global partnerships in digital and space economies (Asharq Al-Awsat)

Saudi Arabia is seeking to advance its partnership in the field of innovation and technical and digital transformation with a number of G20 countries.

Following discussions on cooperation opportunities with Britain and France, the Saudi Minister of Communications and Information Technology, Eng. Abdullah Al-Swaha, held in the Italian city of Trieste on Thursday, a series of meetings with the ministers of Italy, Japan, Germany Singapore and South Africa, to enhance partnership in the fields of technology, innovation and space.

Saudi Arabia has strengthened its position as a global leader in the digital economy, innovation and future markets. In his speech during his participation in the meeting of the Ministers of Digital Economy of the G20, Al-Swaha emphasized the efforts undertaken by the Kingdom to protect the planet through the green Saudi initiatives and the green Middle East.

He pointed to NEOM - the largest global platform for innovators and creators - noting that it was a vivid example of harmonizing regulation and innovation to achieve the welfare of societies and preserve the environment.

He also said that bridging the digital gap globally was the way to achieve inclusiveness and prosperity of societies.

On the sidelines of the meeting, Al-Swaha met with the Italian Minister of Economic Development and Innovation, Giancarlo Giorgetti, with whom he discussed strengthening cooperation in communications, information technology and space.

He also met with Peter Altmaier, the German Federal Minister for Economic Affairs and Energy, and reviewed efforts made by the Kingdom to accelerate the process of digital transformation, stimulate entrepreneurship, and support the research, development and innovation system.

In the same context, Al-Swaha held extensive discussions with the Japanese Minister of Internal Affairs and Communications, Takeda Ryota, and his counterparts from Singapore and South Africa.



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.