Oshkosh Defense Delivered 7,000 Military Vehicles in the Region

Saudi Arabia’s World Defense Show is witnessing wide international participation. (Asharq Al-Awsat)
Saudi Arabia’s World Defense Show is witnessing wide international participation. (Asharq Al-Awsat)
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Oshkosh Defense Delivered 7,000 Military Vehicles in the Region

Saudi Arabia’s World Defense Show is witnessing wide international participation. (Asharq Al-Awsat)
Saudi Arabia’s World Defense Show is witnessing wide international participation. (Asharq Al-Awsat)

John Lazar, vice president and general manager of international programs at US-based Oshkosh Defense, underlined the company’s commitment to localizing Saudi Arabia’s defense and security industries, noting that the Kingdom constituted an attractive investment environment for the transfer of technologies and industries in the sector.

In remarks to Asharq Al-Awsat, Lazar pointed to agreements concluded by Oshkosh Defense to implement a number of Saudi programs in accordance with Vision 2030, in terms of knowledge transfer and localization of industries.

“The Kingdom has hosted our regional office since 1991, and we are ready to cooperate with the Saudi government in providing its needs for the defense sector equipment industries, just as we do with the US government,” Lazar said, emphasizing that the defense industry presented attractive investment opportunities with high economic returns.

His comments came on the sidelines of the World Defense Show, which is being held in Riyadh from March 6 - 9.

Oshkosh Defense is looking to strengthen its partnerships in the region through its presence in the Kingdom, Lazar said, revealing that the past years have witnessed the delivery of more than 7,500 military vehicles in the region, including a large number of vehicles to customers in Saudi Arabia.

The company will display its 4-door Joint Light Tactical Vehicle (JLTV) at the exhibition, he said, highlighting Saudi Arabia’s position as an attractive market for global investments in the defense industries sector.

Moreover, Lazar noted that Oshkosh would also be participating in the World Defense Show’s Customer Experience Demonstration Program, which allows the company to provide demonstration rides in the JLTV to select military and security services.



Gold Firms; Focus on US Data for Cues on Fed's Policy Path

FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
TT

Gold Firms; Focus on US Data for Cues on Fed's Policy Path

FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo

Gold prices hovered near a four-week peak on Thursday, while focus shifted to jobs report due on Friday for clarity on the Federal Reserve's 2025 interest rate path.
Spot gold edged 0.1% higher to $2,664.30 per ounce, as of 0732 GMT. US gold futures rose 0.4% to $2,681.80
"Prices are trading in a narrow range ... A new trigger is needed for gold to breach its resistance," said Ajay Kedia, director at Kedia Commodities in Mumbai.
The bullion hit a near four-week high in the previous session after a weaker-than-expected US private employment report hinted that the Fed may be less cautious about easing rates this year.
The market now awaits US jobs report on Friday for more cues on the Fed's policy path.
Investors are also awaiting Donald Trump to take office on Jan. 20 and his proposed tariffs and protectionist policies are expected to fuel inflation.
Policymakers at the Fed's last meeting also "noted that recent higher-than-expected readings on inflation, and the effects of potential changes in trade and immigration policy, suggested that the process could take longer than previously anticipated," the minutes showed on Wednesday.
Bullion is considered an inflationary hedge, but high rates reduce the non-yielding asset's allure.
"We believe the bulk of the rally has been put in and that while gold's upward momentum may carry it higher in the near term and in early 2025, a combination of physical and financial market factors may tame the rally and drive gold moderately lower by the end of next year," HSBC said in a note.
Elsewhere, physically-backed gold exchange-traded funds (ETFs) registered their first inflow in four years, the World Gold Council said.
Spot silver added 0.2% to $30.17 per ounce, platinum dropped 0.3% to $952.54 and palladium shed 0.8% to $921.37.