Saudi Agencies Sign Framework Agreement for Cloud Computing

Aerial view of Riyadh, Saudi Arabia (File photo: AP)
Aerial view of Riyadh, Saudi Arabia (File photo: AP)
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Saudi Agencies Sign Framework Agreement for Cloud Computing

Aerial view of Riyadh, Saudi Arabia (File photo: AP)
Aerial view of Riyadh, Saudi Arabia (File photo: AP)

The Saudi Digital Government Authority (DGA) launched a framework agreement to provide cloud computing services for Saudi government agencies through the "Etimad" platform.

The adoption of the platform provides many services to various government agencies and enhances the partnership with the private sector.

It also helps achieve the development goals of the Kingdom, enables the digital transformation of those services, increases transparency and efficiency, and facilitates providing services.

The framework agreement aims to contribute to the digital transformation in the Kingdom, unify product specifications and standards, increase the contribution of the private sector, and create a competitive environment.

The agreement aims to develop local content, rationalize consumption, raise the efficiency of digital purchases, speed up its procedures, and increase the quality and effectiveness of products.

The agreement includes several cloud computing infrastructure services: random memory, virtual CPU and storage, and backup.

DGA Governor Ahmed al-Suwayan said that the framework agreement supports government digital transformation programs and partnerships with the private sector.

The Authority recently announced the regulatory framework of the digital government policy.

At the ceremony, Suwayan stressed that the government platforms achieved digital excellence and concerted efforts through joint work and integration between various digital media.

He indicated that this step supports the regulation and governance of digital services business and improves beneficiaries' experience through a system of digital government services. It also contributes to integration between government agencies and strengthens cooperation.

The Governor announced that digital government policy enables and accelerates the sustainable digital transformation of the public sector in the medium and long term.

The policy aims to create a comprehensive government system that focuses on the beneficiaries, including citizens, residents, and visitors, and facilitate the digital transformation of the public sector by enhancing its capabilities.

The "Governance Digital Platform... Orientation and Impact" session was held during the ceremony to discuss the government's approach, perspectives, and platforms.

The Governor handed over the platforms' registration certificates to the entities that responded to the Authority's circular, including Absher, Etimad, Ejar, Balady, Tawakkalna, Sakani, Sehaty, Qiwa, Madrasati, and Najiz.

The Authority is the national reference and competent entity for digital governance in the Kingdom.

It aims to direct national efforts to harmonize government procedures, achieve optimal investment for existing assets, improve operational efficiency, and enhance the experience of government beneficiaries and digital service providers.



Gold Prices Retreat from Record High as Investors Cash In

A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
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Gold Prices Retreat from Record High as Investors Cash In

A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Gold prices pulled back from a record high on Thursday as investors booked profits following a rally driven by concerns around US President Donald Trump's latest wave of tariff policies.

Spot gold was down 0.3% at $3,331.73 an ounce, as of 1120 GMT, after touching a record $3,357.40 earlier in the session. Bullion has gained nearly 3% this week.

US gold futures were steady at $3,346.30.

"Likely the reversal off fresh all-time highs can be attributed to some profit-taking on the highs. A slightly firmer tone to an otherwise weak US dollar likely took the edge off gold," said Ross Norman, an independent analyst, Reuters reported.

"Price dips are well bought into, suggesting underlying sentiment is very positive."

The dollar index recovered from near a three-year low on Thursday, making gold more expensive for holders of other currencies.

Gold rose 3.6% on Wednesday, driven by Trump's order to open a probe into potential tariffs on all critical mineral imports, in addition to reviews into pharmaceutical and chip imports.

Meanwhile, US Federal Reserve Chair Jerome Powell said on Wednesday the Fed would wait for more data before changing interest rates, while also cautioning that Trump's tariff policies risked pushing inflation further from the central bank's goals.

Gold, traditionally viewed as a hedge against inflation, also tends to thrive in a low-interest rate environment.

"The market's interpretation seems to be that gold would benefit either way," said Carsten Menke, an analyst at Julius Baer.

Demand for physical gold was tepid in India this week as a blistering price rally curbed purchases, while premiums held firm in top consumer China.

"Reduced participation in the rally by traditional gold buyers might signal the move is nearer the end than the beginning. But it’s hard to see a scenario where gold would correct lower just now, other than being technically overbought and overextended," Norman said.

Spot silver dropped 1.1% to $32.39 an ounce, platinum shed 1.4% to $954.12, and palladium fell 2.5% to $949.26.