Preparatory Day for WGS Kicks Off Monday with Four Forums

Gatherers at a previous edition of the World Government Summit. (Asharq Al-Awsat)
Gatherers at a previous edition of the World Government Summit. (Asharq Al-Awsat)
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Preparatory Day for WGS Kicks Off Monday with Four Forums

Gatherers at a previous edition of the World Government Summit. (Asharq Al-Awsat)
Gatherers at a previous edition of the World Government Summit. (Asharq Al-Awsat)

The proceedings of the World Government Summit (WGS) 2022’s preparatory day will kick off through four diverse forums in Dubai on Monday.

Senior officials, experts, private sector leaders, decision-makers, idea pioneers, specialists in financial, economic and social affairs and various international organizations and global technological institutions will explore the prospects for the future of the economy, youth, energy, and women’s role in governments.

The WGS will organize the first edition of the Investopia Investment Summit, as part of the efforts to launch creative ideas that would boost global investments.

More than 50 idea pioneers and change-makers in the world, 300 decision-makers in governments, investors, entrepreneurs in the private sector, experts, specialists and academics will gather to launch 100 innovative ideas and new business opportunities in the world, the region, and the United Arab Emirates.

UAE Minister of Economy Abdullah Abdulla al-Marri, his Saudi counterpart Faisal al-Ibrahim, Greek Minister of Development and Investments Adonis Georgiadis, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) Rebeca Greenspan will participate in the event to explore the prospects for the 2022 global economy.

The WGS sessions will also discuss the metaverse sector, investment in the innovation sector, sustainability of finance, cryptocurrencies and digital assets.

Other sessions will tackle detailed issues, mainly investment opportunities in the Emirate of Sharjah and exploring the role of women in consumer and investment spending.

The Women in Government Forum will also be held and discuss the importance of international cooperation to boost women’s role in leading government work, and the role of women leaders in motivating and inspiring the new generation of girls and women to actively participate in advancing government work.

The forum will hold 14 sessions to discuss the responsibility of governments in bolstering women’s roles in the technology sector and in achieving global economic growth, developing integrated social policies, enhancing international cooperation and attaining sustainable development goals.

The Global Energy Forum, organized in partnership with the Atlantic Council, focuses on reducing carbon dioxide emissions to reach zero and the future of global energy.

It will tackle the effects of energy security on the transformation of the energy sector, address energy challenges in Europe and discuss energy sector visions for 2022.

The forum touches on the importance of substituting traditional energy sources by clean and renewable energy sources.

This global goal tops government priorities as they seek to implement it by developing a set of future plans and strategies that contribute to accelerating the global energy transition.

The Arab Youth Center, in partnership with the WGS 2022, will hold the Arab Meeting for Young Leaders to promote Arab youth work and various initiatives related to youth empowerment and engagement.

It aims at developing their capabilities and bolstering their opportunities to participate in building, developing and shaping the future.

The two-day World Government Summit’s (WGS) eighth edition will be held at the Expo 2020 Dubai at the Dubai Exhibition Center on March 29.

It will bring together the world’s most prominent talents to discuss vital sectors and develop ideas and visions for a new future.



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.