Expo 2020 Unveils Key Pavilion in Dubai

Energy trees are seen next to a camel sculpture at Terra, The Sustainability Pavilion during a media tour at the Dubai World Expo site in Dubai, UAE, Jan. 16, 2021. (AP)
Energy trees are seen next to a camel sculpture at Terra, The Sustainability Pavilion during a media tour at the Dubai World Expo site in Dubai, UAE, Jan. 16, 2021. (AP)
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Expo 2020 Unveils Key Pavilion in Dubai

Energy trees are seen next to a camel sculpture at Terra, The Sustainability Pavilion during a media tour at the Dubai World Expo site in Dubai, UAE, Jan. 16, 2021. (AP)
Energy trees are seen next to a camel sculpture at Terra, The Sustainability Pavilion during a media tour at the Dubai World Expo site in Dubai, UAE, Jan. 16, 2021. (AP)

Dubai on Saturday unveiled the signature pavilion for the upcoming Expo 2020, the world's fair that is scheduled to open later this year even as the global pandemic that forced its postponement continues to rage.

The Terra Pavilion, which features a towering 130 meter-wide (426 feet) canopy blanketed with thousands of solar panels, is part of the sheikhdom's push to rally enthusiasm for the high-stakes expo amid the pandemic that has dealt a blow to its economy. The massive structure, devoted to environmental sustainability, rises from the fairgrounds on the desert outskirts of Dubai, where construction workers still scurry around national pavilions in various stages of completion.

Dubai’s Expo 2020 is expected to draw 25 million visitors and a flurry of business deals. The event represents a $7 billion bet by the city in the United Arab Emirates to boost international tourism and investment. The yearlong delay puts even more pressure on the event to spur Dubai’s service-heavy economy, which was sputtering before the pandemic thanks to a shaky real estate market.

The Terra Pavilion, which cost over $272 million, is designed to produce as much electricity as it uses, making it both energy and carbon neutral. It will supply and treat all of its own water, capturing rain in a vast underground cistern.

The 25,000 square-meter pavilion boasts immersive experiences of forests and oceans as well as interactive exhibits guiding visitors through the history of environmental decline and dangers of overconsumption. The vast eruption of climate-controlled steel and glass teems with butterflies, lizards and insects. Thick clumps of reeds lining the building filter air conditioning wastewater for reuse.

“The theme of thinking about the future, thinking about changing our attitudes and being aware about environmental challenges is our number one concern," said Mohamed al-Ansaari, vice president of communications at Expo 2020.

He noted that 85% of the site's trash will be diverted from landfills and 80% of new buildings will live on after the event as educational centers, residential buildings or offices. The other 20% of the structures belong to individual countries that may decide whether to raze, abandon or recycle their pavilions.

The Terra Pavilion aims to draw 3,000-5,000 people a day starting next week, said its director John Bull, when it will open its doors with great fanfare even as the coronavirus pandemic surges to unprecedented heights in the UAE. Virus countermeasures like thermal checks, social-distancing squares and loads of hand sanitizer aim to ensure safety.

As for the fair's opening in October 2021, organizers have voiced nothing but optimism for Expo Dubai to become one of the first places where the world can reunite after defeating the pandemic with mass vaccination.

“After months of isolation and uncertainty, this event will be the opportunity to showcase and motivate solidarity on the human level,” declared Reem Ebrahim al-Ashimy, the Expo’s director general and the Emirati minister of state for international cooperation.



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.