40 Government Agencies Strive for Quality Industries in Saudi Arabia

A meeting between the NDLP officials and the Industrial Committee in the Riyadh Chamber to review the program services and the upcoming work plan. (Asharq Al-Awsat)
A meeting between the NDLP officials and the Industrial Committee in the Riyadh Chamber to review the program services and the upcoming work plan. (Asharq Al-Awsat)
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40 Government Agencies Strive for Quality Industries in Saudi Arabia

A meeting between the NDLP officials and the Industrial Committee in the Riyadh Chamber to review the program services and the upcoming work plan. (Asharq Al-Awsat)
A meeting between the NDLP officials and the Industrial Committee in the Riyadh Chamber to review the program services and the upcoming work plan. (Asharq Al-Awsat)

The National Industrial Development and Logistics Services Program (NDLP) is seeking to work with 40 Saudi government agencies to achieve qualitative industries represented in partial and total manufacturing and the development of the supply chain in machinery, medical equipment, cars, military industries and renewable energy.
The NDLP aims to transform the Kingdom into a leading industrial power and a global logistics platform by maximizing the value generated from the mining and energy sectors and focusing on the local content and the Fourth Industrial Revolution, to contribute to expanding and diversifying the economic impact of the targeted sectors.

Eng. Suleiman Al-Mazrouh, CEO of the NDLP, stressed his confidence in achieving the program’s objectives in light of the great integration between promising growth sectors and executive bodies, in addition to the availability of national competencies.

During a recent meeting of the Industrial Committee of the Chamber of Commerce and Industry in Riyadh, Al-Mazrouh said that achieving the objectives of the program would contribute to transforming the Kingdom into a leading industrial power and a global logistics platform.

For his part, Abdullah Al-Khorayef, member of the Board of Directors and Chairman of the Industrial Committee, explained that the program seeks to create an advanced and capable industrial society that achieves many of the aspirations of the business sector and opens the door for the development of industrial human capital.

The meeting featured a presentation of the most important goals of the NDLP and its upcoming strategy, and saw extensive discussions between committee members and program officials over the work plan and aspects of cooperation with industrialists.

It also reviewed the Daleel platform, which is a comprehensive window for presenting important information to the beneficiaries.



Gold Firms in Thin Trade as Investors Weigh Fed Outlook

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
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Gold Firms in Thin Trade as Investors Weigh Fed Outlook

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold prices firmed on Monday, although trading was thin due to the holiday season and as investors looked for cues on the US Federal Reserve's monetary policy trajectory for next year after it signaled gradual easing in its latest meeting.
Spot gold added 0.3% at $2,628.63 per ounce, as of 0941 GMT, trading in a narrow $16 range. US gold futures eased 0.1% to $2,643.10.
"(It's a) Quiet day with lower liquidity and limited data releases during the holiday season," said UBS analyst Giovanni Staunovo.
"We retain a constructive outlook for gold in 2025, targeting a move to $2,800/oz by mid-2025."
The Fed cut rates by 25 basis points on Dec. 18, although the central bank's predictions of fewer rate cuts in 2025 resulted in a decline in gold prices to their lowest level since Nov. 18 last week.
US consumer spending increased in November, supporting the Fed's hawkish stance, a sentiment that was also shared by San Francisco Fed President Mary Daly.
Higher interest rates dull non-yielding bullion's appeal.
"Presently, we are in a lull for Christmas week with the gold price trending sideways. Federal Reserve policy is clear with expectations of rising interest rates in the second half of the year," said Michael Langford, chief investment officer at Scorpion Minerals.
"The next big impact is the incoming presidency of (Donald) Trump and the initial presidential decrees that he might declare. This has the potential to add to market volatility and be bullish for gold prices."
Gold, often considered a safe-haven asset, typically performs well during economic uncertainties.
Spot silver rose 0.8% to $29.75 per ounce and platinum climbed 1.3% to $938.43. Palladium steadied at $920.53.