Tanmiah Food Company, Tyson Foods Strengthen Strategic Partnership at Saudi Event

Part of the meeting between Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. Asharq Al-Awsat
Part of the meeting between Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. Asharq Al-Awsat
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Tanmiah Food Company, Tyson Foods Strengthen Strategic Partnership at Saudi Event

Part of the meeting between Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. Asharq Al-Awsat
Part of the meeting between Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. Asharq Al-Awsat

Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. met this week in Jeddah to recognize their strategic partnership made in 2022 including the potential growth opportunities across the Kingdom and the Middle East.

The event was held by the Chairman of Tanmiah Food Company, Amr Al-Dabbagh, and joined by Saudi government guests, in addition to the US Consul General in Jeddah and the Commercial Counsul, and a number of private sector officials.

The partnership is well positioned to help sustainably meet the growing demand for poultry in the Kingdom, while also supporting Saudi Arabia’s food security goals and economic growth.

The companies discussed the growing Halal food market and the opportunities it presents to unlock future growth for the partnership. Both companies also discussed future expansion plans to increase the processing capacity of the Supreme Foods Processing Company. As per the partnership agreement, Tyson Foods and Tanmiah will be jointly investing in the expansion of further processing capacity. The expansion is anticipated to increase the total production capacity of Supreme Foods Processing to nearly 100,000 metric tons annually.

“It was an honor to welcome our partners at Tyson Foods to the Kingdom as we build momentum following the recent signing of our strategic partnership that will unlock growth across the Kingdom and improve access to high-quality processed poultry products. We also believe the partnership strengthens our commitment to supporting the Kingdom’s food security and self-sufficiency goals,” said Tanmiah’s CEO Zulifqar Hamadani.

Executive Board Member & Managing Director Ahmed Osilan said: “This partnership will contribute to food security goals and bring global expertise, standards and technology to the Saudi poultry market, supporting the Kingdom’s non-oil economy while also generating hundreds of jobs.”

Tyson Foods President, International and Chief Administrative Officer Amy Tu said that a key part of his company’s strategic plan is to meet the growing global demand for protein and to serve customers and consumers with products tailored to the local market and region.

He said the partnership with Tanmiah Food “will allow us to address that plan, especially the growing demand for Halal food. We are excited to build a long-term partnership and drive future economic activity in the Kingdom.”

As for TAN Sun, President, Tyson Foods Asia Pacific, he said: “We are committed to working together to drive operational excellence and deliver high-quality poultry products across the region. We are aligned on the need for future expansion across the value chain and improvements to production processes. We look forward to further collaboration.”



Silver Tops $65 for 1st Time, Gold Firms as US Unemployment Rate Climbs

FILE PHOTO: UK gold bullion bars and coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
FILE PHOTO: UK gold bullion bars and coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
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Silver Tops $65 for 1st Time, Gold Firms as US Unemployment Rate Climbs

FILE PHOTO: UK gold bullion bars and coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
FILE PHOTO: UK gold bullion bars and coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo

Silver jumped past the $65-per-ounce mark for the first time on Wednesday, while gold climbed higher after US jobs data showed a softening labor market, rekindling expectations of further rate cuts next year and boosting demand for precious metals.

Spot silver was up 3.9% at $66.28 an ounce after rising to an all-time high of $66.52 earlier in the session. Spot gold prices rose 0.8% to $4,337.85 an ounce by 0552 GMT.

US gold futures gained 0.8% to $4,368.60.

"There is a major short squeeze (speculative trade) happening in silver... and we are not seeing the supply side responding the way it should have after the US added silver to the critical minerals list," said Kunal Shah, head of research at Nirmal Bang Commodities in Mumbai.

"Every country planning to enter the data center-AI space will need more of silver," Shah said, noting that current trends could push silver towards $70 in the near term.

The rally followed US data showing the unemployment rate rose to 4.6% in November, above a Reuters poll forecast of 4.4%.

The unemployment data has definitely helped precious metals and weakened the dollar, prompting investors to look for other asset classes offering higher returns as a hedge against risk, GoldSilver Central MD Brian Lan said.

Investors now await the US consumer price index data on Thursday and the personal consumption expenditures index, the Federal Reserve's preferred inflation gauge, on Friday.

Last week, the Fed delivered its third and final quarter-point rate cut for the year, while Chair Jerome Powell's accompanying comments were perceived as less hawkish than expected.

Traders still expect two cuts of 25 basis points each in 2026.

Non-yielding assets like bullion typically perform well in low-interest-rate environments.

Elsewhere, platinum was up 3.6% at $1,916.80, its highest in more than 17 years since July 2008, while palladium added 0.7% to $1,615.28, a two-month high.


Tourism Projects Worth $9 Billion Being Implemented in Saudi Arabia’s Eastern Province

The Saudi Minister of Tourism, along with the President of Aramco, tours the King Abdulaziz Center for World Culture in the Eastern Province. Asharq Al-Awsat
The Saudi Minister of Tourism, along with the President of Aramco, tours the King Abdulaziz Center for World Culture in the Eastern Province. Asharq Al-Awsat
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Tourism Projects Worth $9 Billion Being Implemented in Saudi Arabia’s Eastern Province

The Saudi Minister of Tourism, along with the President of Aramco, tours the King Abdulaziz Center for World Culture in the Eastern Province. Asharq Al-Awsat
The Saudi Minister of Tourism, along with the President of Aramco, tours the King Abdulaziz Center for World Culture in the Eastern Province. Asharq Al-Awsat

The Eastern Province is expected to witness the implementation of more than 650 tourism projects valued at over SAR12.7 billion (approximately $3.39 billion).

With the addition of investments in new projects exceeding SAR21 billion ($5.6 billion), total tourism investments amount to around SAR33.7 billion (nearly $9 billion), reflecting a growth in the sector.

Saudi Minister of Tourism Ahmed Al-Khateeb said tourism investments in the region are experiencing qualitative growth, adding that the Eastern Province enjoys competitive advantages that make it attractive for tourism investment.

The minister said the region has achieved positive results in sector performance, welcoming more than 13.4 million tourists whose spending exceeded SAR18.5 billion ($4.9 billion), underscoring the rising demand for tourism services.

Tourism Diversity

Al-Khateeb revealed that more than 650 approved tourism projects would contribute to improved tourism, in addition to strengthening partnerships and supporting private sector participation. This, he said, reflects the rapid growth pace and the achievements that the tourism sector in the Eastern Province has witnessed.

High-quality projects in the region enhance competitiveness, supported by the Tourism Development Fund, said Al-Khateeb. These projects contribute to improving quality of life and offering integrated visitor experiences, reinforcing the region’s position as a leading tourist destination on the Arabian Gulf coast, he added.

The minister met with Eastern Province’s tourism employees, who briefed him on promising opportunities and made proposals aimed at developing career paths for workers in the sector.

Al Khobar Season

Al Khobar Season 2025 has achieved remarkable success since its launch, featuring a seasonal program spanning nearly 90 days. Supported by the Sharqia Development Authority and the Saudi Tourism Authority, the season hosted events across more than 20 locations, attracting over one million visitors and involving more than 50 partners from the private sector.

Al Khobar Season enhances the Eastern Province’s status as a major tourism and entertainment destination through experiences that blend entertainment, culture, arts, and sports. This contributes to improving quality of life, achieving the objectives of Saudi Vision 2030, and developing the tourism sector.


Saudi Exports Development Authority Organizes Trade Mission to Syria, Iraq 

Officials are seen during one of the visits to a Saudi company. (Saudi Exports Development Authority on X)
Officials are seen during one of the visits to a Saudi company. (Saudi Exports Development Authority on X)
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Saudi Exports Development Authority Organizes Trade Mission to Syria, Iraq 

Officials are seen during one of the visits to a Saudi company. (Saudi Exports Development Authority on X)
Officials are seen during one of the visits to a Saudi company. (Saudi Exports Development Authority on X)

The Saudi Exports Development Authority (SAUDI EXPORTS) organized a trade mission for Iraq and Syria in conjunction with the Made in Saudi Expo 2025 in Riyadh, reported the Saudi Press Agency on Tuesday.

The missions involved 87 Saudi exporters and 32 importing companies, representing key sectors including construction, food products, medical supplies, and packaging industries.

A series of business-matching meetings were held to explore opportunities for cooperation and trade partnerships.

The meetings and bilateral discussions held alongside the exhibition resulted in the signing of seven trade agreements, reflecting the quality and competitiveness of Saudi products.

This was followed by an orientation tour for the visiting trade delegation of the Saudi companies’ pavilions to explore the latest national innovations and products.