SABIC Solutions Win 5 Edison Awards for Best New Products

SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
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SABIC Solutions Win 5 Edison Awards for Best New Products

SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)

SABIC, a global diversified chemicals company, has been awarded five of the prestigious Edison Awards 2023 for its innovative solutions, designed to meet the needs of their customers and the broader value chain, and as well aligned with Saudi Vision 2030, reported the Saudi Press Agency on Friday.

SABIC won three gold and two bronze awards across three separate areas for its new products and solutions. These areas include “Food and Agriculture”, “Material Science” and “Sustainability.”

The awards reflect SABIC’s commitment to pushing the limits of science, technology, and innovation and defining the future of chemistry that allows SABIC and its customers to address some of the world’s biggest challenges.

This is the third consecutive year that SABIC’s solutions have been recognized by Edison Awards, which honor the world’s most innovative new products, services, and business leaders. This is also the second consecutive year that SABIC received at least five Edison awards.

“SABIC is proud to be recognized for the third consecutive year by Edison Awards, demonstrating our continued leadership in new technology and innovation advancements. These are key elements of our continued business growth on our journey to be the preferred world leader in chemicals and provide innovative solutions for the future that create a more sustainable world,” said Abdulrahman Al-Fageeh, CEO at SABIC.



Gold Rebounds on Dip Buying; US-China Trade Talks in Focus

A one kilogram gold cast bars with 99.99% purity is pressed and ready for sale at the ABC Refinery in Sydney, Australia, Wednesday, April 30, 2025. (AP Photo/Mark Baker)
A one kilogram gold cast bars with 99.99% purity is pressed and ready for sale at the ABC Refinery in Sydney, Australia, Wednesday, April 30, 2025. (AP Photo/Mark Baker)
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Gold Rebounds on Dip Buying; US-China Trade Talks in Focus

A one kilogram gold cast bars with 99.99% purity is pressed and ready for sale at the ABC Refinery in Sydney, Australia, Wednesday, April 30, 2025. (AP Photo/Mark Baker)
A one kilogram gold cast bars with 99.99% purity is pressed and ready for sale at the ABC Refinery in Sydney, Australia, Wednesday, April 30, 2025. (AP Photo/Mark Baker)

Gold prices firmed on Friday as investors bought bullion following an earlier dip in the session, while markets turned their focus to US-China trade talks this weekend.

Spot gold was up 0.3% to $3,316.29 an ounce, as of 0448 GMT. US gold futures firmed 0.5% to $3,321.60.

Spot gold retreated earlier in the session, touching a low of $3,274.38, as US President Donald Trump announced a trade deal with the UK on Thursday.

Trump and British Prime Minister Keir Starmer announced a "breakthrough deal". A 10% tariff on goods imported from the UK remains in place, while Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to US goods.

"Buying gold on dips is still in vogue, which is so far limiting the downside moves despite safe haven demand drying up to a degree on the US-UK trade deal," KCM Trade Chief Market Analyst Tim Waterer said.

"How the US-China trade talks develop could be key in determining which side of $3,300 gold trades at next week."

Trump also said he expects there to be substantive negotiations between the US and China on trade this weekend and predicted that punitive US tariffs on Beijing of 145% would likely come down, Reuters said.

Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low interest rate environment.

Several US Federal Reserve officials are due to speak later in the day for further insights into the economy and the central bank's policy path. This comes after the Fed held interest rates steady on Wednesday and warned of rising inflation and unemployment risks.

Meanwhile, Indian gold dealers offered discounts this week amid weak demand as a softer rupee lifted local prices to near-record highs, while buying in China picked up after a holiday.

Spot silver was steady at $32.48 an ounce, platinum rose 0.5% to $980.55 and palladium gained 0.2% to $978.21.