Saudi Arabia, Four Countries Sign Cybersecurity MoUs

The 2023 edition of the Global Cybersecurity Forum, held in Riyadh
The 2023 edition of the Global Cybersecurity Forum, held in Riyadh
TT

Saudi Arabia, Four Countries Sign Cybersecurity MoUs

The 2023 edition of the Global Cybersecurity Forum, held in Riyadh
The 2023 edition of the Global Cybersecurity Forum, held in Riyadh

Saudi Arabia’s National Cybersecurity Authority (NCA) signed four memoranda of understanding (MoUs) for cooperation in cybersecurity with national bodies in Qatar, Romania, Spain, and Kuwait on the sidelines of the third edition of the Global Cybersecurity Forum (GCF).

The MoUs were signed between the Saudi NCA and Qatar’s National Cyber Security Agency (NCSA), Romania’s National Cyber Security Directorate (DNSC), the Spanish National Cybersecurity Institute (INCIBE), and Kuwait’s National Cyber Security Center (NCSC).

The 2023 edition of the Global Cybersecurity Forum, held in Riyadh under the theme “Charting Shared Priorities in Cyberspace,” concluded Thursday after heavy global participation, including 150 high-level speakers and attendees from 120 countries.
The two-day GCF served as a platform for discussing strategic orientations and crucial international issues in the cyberspace domain.

Participants from around the world engaged in dialogue on cooperation and unified efforts in cybersecurity and discussed maximizing opportunities, transferring knowledge, and enhancing human and technical capabilities in the sector.

The forum featured 35 discussion sessions, attended by decision-makers, CEOs, and senior officials from the public and private sectors at both the local and international levels.



Gold Pulls Back from Near 3-month High as Dollar Regains Strength

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
TT

Gold Pulls Back from Near 3-month High as Dollar Regains Strength

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 eased on Thursday from a near three-month peak hit in the previous session, as the dollar regained strength, while investors awaited further direction from US President Donald Trump's administration regarding trade policies.
Spot gold eased 0.1% to $2,751.99 per ounce by 0552 GMT. Prices rose to $2,763.43 on Wednesday, their highest since Oct. 31 when they hit a record high of $2,790.15.
US gold futures shed 0.4% to $2,760.20.
"It's just a technical pullback because the dollar has been taking back on $108 level, triggering some profit-booking, but the undertone for gold is expected to be positive," said Ajay Kedia, director at Kedia Commodities in Mumbai.
Trump has mooted levies of around 25% on Mexico and Canada and 10% tariff on China from Feb. 1. He also promised duties on European imports, without elaborating further.
"How Trump's policies impact gold is whether the combination of tax cuts, deregulation, tariffs, and deportation will amount to a strong inflationary push," said Ilya Spivak, head of global macro at Tastylive.
"If so, Fed rate cuts will be limited and gold is likely to struggle."
According to Reuters technical analyst Wang Tao, gold might have to face resistance at $2,759, which could trigger a correction.
The Federal Reserve is meeting next week against a backdrop of continued economic growth and declining inflation, but faces uncertainties from Trump's proposed policies that analysts see as inflationary.
The US central bank is expected to hold its benchmark interest rate steady at its next policy meeting on Jan. 28-29. Higher interest rates dampen the appeal of non-yielding gold.
European Central Bank policymakers lined up behind further rate cuts, while the Bank of Japan is widely expected to raise rates on Friday.
Spot silver dropped 0.5% to $30.63 per ounce, while platinum shed 0.2% to $944 and palladium dipped 0.7% to $970.55.