Riyadh Hosts Major Int’l Tech Gathering to Predict Future of Global Technology

Riyadh hosts the largest global gathering to review technology developments (Asharq Al-Awsat)
Riyadh hosts the largest global gathering to review technology developments (Asharq Al-Awsat)
TT
20

Riyadh Hosts Major Int’l Tech Gathering to Predict Future of Global Technology

Riyadh hosts the largest global gathering to review technology developments (Asharq Al-Awsat)
Riyadh hosts the largest global gathering to review technology developments (Asharq Al-Awsat)

Saudi Arabia’s capital Riyadh is hosting the second edition of a major technology conference known as LEAP. From Feb. 6 to 9, tech innovators and leading experts will predict the future of technology and its effective role, and to find innovative solutions to the most important challenges facing the sector.

LEAP 2023 will seek raising tech awareness and highlighting Saudi Arabia’s position as a major center for technology and innovation.

Launched under the title “Towards New Horizons,” the tech conference is expected to host more than 700 international leading experts in technology investment.

They will speak through seven different platforms designed to include all technical, innovative and investment interests. More than 500 sessions will be held.

LEAP 2023’s “investors” platform will present investments in the technology and innovation sector, conclude commercial agreements, and review successful partnerships and models worldwide.

Four stages will be devoted to panelists and experts discussing financial technologies, smart cities, health and educational technologies, retail trade, the future of energy and the industrial revolution.

The conference is organized by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming and Drones, and UAE-based IT services and consulting firm Tahaluf.

It aims to spark discussions on artificial intelligence, the digital transformation, and advancements in the field of technical and innovative entrepreneurship through immersive learning, storytelling sessions and lectures.

Michelle Crawford, the head of TrustedOne.Global, a major US-based consulting firm, listed three key opportunities that virtual reality can provide to investors.

“It (virtual reality) provides real-time use cases that generate revenues in the present day, brings next-generation technologies and skills to the youth of Saudi Arabia, and highlights the rich Saudi history to the world,” Crawford told Asharq Al-Awsat.

Furthermore, Crawford expected that LEAP 2023 will revolutionize tech conferences and change the face of technology in Riyadh.



Gold Slips as US Bond Yields Rise, Investors Assess New Tariffs

Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo
Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo
TT
20

Gold Slips as US Bond Yields Rise, Investors Assess New Tariffs

Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo
Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo

Gold prices eased on Tuesday, weighed by higher US Treasury yields as US President Donald Trump announced new tariff proposals on trading partners, including Japan and South Korea.

Spot gold was down 0.2% at $3,328.67 per ounce, as of 1207 GMT. US gold futures fell 0.1% to $3,338.20.

The yield on benchmark US 10-year notes rose to a two-week peak, making the non-yielding bullion less attractive.

"Gold is stuck between a rock and a hard place," said UBS commodity analyst Giovanni Staunovo, Reuters reported.

"Negative for the gold price is the US decision to extend the deadline for a trade deal for many trade partners, positive for the gold price is the fact that key US trading partners in Asia might have to deal with higher tariffs in the near future, weighing on economic growth prospects."

On Monday, Trump told 14 countries that sharply higher tariffs would start on August 1, marking a new phase in the trade war he launched in April, with levies between 25% and 40%.

The new deadline was firm, Trump said, adding that he would consider extensions if countries made proposals for a trade deal.

"Reciprocal tariffs" were to be capped at 10% until July 9 to allow for negotiations, but so far, agreements have been reached only with Britain and Vietnam. In June, Washington and Beijing agreed on a framework covering tariff rates.

Meanwhile, China has warned the Trump administration against reigniting trade tensions and threatened to retaliate against nations that strike deals with the US to exclude it from their supply chains.

Trump's tariffs have stoked inflation fears, further complicating the US Federal Reserve's path to lower interest rates.

Investors await minutes of the Fed's June meeting, due on Wednesday, for more clues into the bank's policy outlook.

Spot silver fell 0.1% to $36.71 per ounce, platinum rose 0.2% to $1,372.51, and palladium rose 0.6% to $1,117.33.