Saudi Initiatives Contributing to Creating a Sustainable Future Through Space

Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
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Saudi Initiatives Contributing to Creating a Sustainable Future Through Space

Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)
Expected space economy revenues to reach around one trillion dollars by 2040 (Asharq Al-Awsat)

Saudi Arabia has achieved 96% of the targets set by the “Connect 2030” program, established by the International Telecommunication Union. This program aims to attain the Sustainable Development Goals by leveraging communication and technological services.

 

According to a report released by Saudi Arabia’s Communications, Space and Technology Commission on Sunday, the Kingdom is making significant strides in contributing to a sustainable future through space initiatives.

Saudi Arabia has accomplished a 100% success rate in various domains under the “Connect 2030” program, notably in terms of inclusivity by bridging the digital divide and providing widespread access to broadband services.

Additionally, the Kingdom excelled in forming partnerships by enhancing collaboration between International Telecommunication Union members and all stakeholders to support strategic objectives.

Saudi Arabia also achieved a 100% growth rate by enabling and enhancing access to communication and technology, fostering the digital economy, society, and promoting innovation in communications and technology to support societal digital transformation.

In terms of sustainability, Saudi Arabia scored 80% in risk management, addressing challenges and emerging opportunities resulting from the rapid growth of communications and technology.

According to the report, there were 87 local digital products launched in the past year, with 11 companies accepted, including five international ones.

The Communications, Space and Technology Commission had declared that Saudi Arabia is the world’s first country to successfully test the fifth-generation technology using a high-altitude platform system.

During the past year, the Kingdom advanced the principles of sustainability, making strides in empowering women and promoting environmental initiatives and renewable energy.

The telecommunications, space, and technology sector played a significant role in numerous achievements, including launching initiatives to reduce electronic waste and carbon emissions, expanding communication services to bridge the digital divide and facilitate modern technologies, as well as building capacity and empowering women.

The representation of women in leadership positions in the telecommunications and technology sector reached 23.60%, and 41,000 women were empowered to seize new opportunities.



Gold Eases from Record Peak on Profit-taking; Trump's Tariffs in Focus

Gold bars at a gold shop in Bangkok, Thailand, 01 April 2025. EPA/RUNGROJ YONGRIT
Gold bars at a gold shop in Bangkok, Thailand, 01 April 2025. EPA/RUNGROJ YONGRIT
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Gold Eases from Record Peak on Profit-taking; Trump's Tariffs in Focus

Gold bars at a gold shop in Bangkok, Thailand, 01 April 2025. EPA/RUNGROJ YONGRIT
Gold bars at a gold shop in Bangkok, Thailand, 01 April 2025. EPA/RUNGROJ YONGRIT

Gold dipped on Thursday as traders locked in profits after prices hit a record high, following a rush to safe-haven assets triggered by US President Donald Trump's aggressive import tariffs, which escalated the already intense global trade war.

Spot gold was down 0.4% at $3,122.1, as of 0710 GMT. Earlier in the session, bullion hit an all-time high of $3,167.57.

US gold futures fell 0.7% to $3,145.00.

Trump unveiled on Wednesday a 10% baseline tariff on all imports to the US, and higher duties on dozens of countries, including some of its biggest trading partners, deepening a trade war that has rattled global markets, Reuters said.

The reciprocal tariffs do not apply to certain goods, including gold, energy and "certain minerals that are not available in the US," according to a White House fact sheet.

One of the factors supporting gold was "the slowdown that tariffs are likely to cause the US economy, raising the prospects of future rate cuts," Capital.com's financial market analyst Kyle Rodda said.

The Trump administration confirmed that the 25% global car and truck tariffs will take effect on April 3, as planned, and duties on automotive parts imports will be launched on May 3.

Gold is in "a pure momentum trade, where bulls who were left for dust are agonizing on the side line, eager for even the smallest of dips, and until we see a volatile shakeout big enough to stun bulls and bears, the momentum trade could continue higher," said Matt Simpson, a senior analyst at City Index.

Gold, a hedge against political and financial instabilities, has surged more than 19% year-to-date, mainly driven by tariff jitters, rate- cut possibilities, geopolitical conflicts, and central bank buying.

"There's also some front running going on amongst traders who anticipate (Trump's) policies will drive central banks to park their reserves in gold rather than US dollar-denominated assets," Rodda said.

Market awaits US non-farm payrolls report due on Friday for clues into the Federal Reserve's policy path.

Spot silver slipped 2.8% to $33.07 an ounce, platinum fell 1.5% to $968.37, and palladium lost 1.4% to $956.50.