عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia, Tunisia Sign MoU on Renewable Energy

Saudi Energy Minister Prince Abdulaziz bin Salman and Tunisian Minister of Industry Energy and Mines Naila Nouira El-Kenji
Saudi Energy Minister Prince Abdulaziz bin Salman and Tunisian Minister of Industry Energy and Mines Naila Nouira El-Kenji
TT
TT

Saudi Arabia, Tunisia Sign MoU on Renewable Energy

Saudi Energy Minister Prince Abdulaziz bin Salman and Tunisian Minister of Industry Energy and Mines Naila Nouira El-Kenji
Saudi Energy Minister Prince Abdulaziz bin Salman and Tunisian Minister of Industry Energy and Mines Naila Nouira El-Kenji

Saudi Energy Minister Prince Abdulaziz bin Salman signed on Wednesday a memorandum of understanding with his Tunisian counterpart, Naila Nouira El-Kenji, on renewable energy and energy efficiency.

The MoU, signed on the sidelines of the International Mining Conference in Riyadh, aims to develop bilateral cooperation and exchange of information and expertise through research and studies related to this type of energy.

It includes cooperation on demand management for renewable energy, reliable and sustainable operating of energy systems and standard indicators of energy consumption in the industrial sector.

It also includes holding joint seminars and training courses on renewable energy, energy efficiency and rationalization of consumption, as well as encouraging the private sector in both countries to build partnerships in this field.

Most Viewed

 
 
Business

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)
TT
TT

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.