Major Projects Confirm Riyadh’s Ability to Organize Exceptional Expo 2030

The new international version of the Media Oasis is being held by the Saudi Ministry of Information in Paris from Nov. 26-28. (SPA)
The new international version of the Media Oasis is being held by the Saudi Ministry of Information in Paris from Nov. 26-28. (SPA)
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Major Projects Confirm Riyadh’s Ability to Organize Exceptional Expo 2030

The new international version of the Media Oasis is being held by the Saudi Ministry of Information in Paris from Nov. 26-28. (SPA)
The new international version of the Media Oasis is being held by the Saudi Ministry of Information in Paris from Nov. 26-28. (SPA)

The General Assembly of the International Bureau of Exhibitions (BIE) is preparing to choose the country which will host Expo 2030, as the representatives of 182 member states of the (BIE) will cast their ballots on Tuesday, to determine whether Riyadh, Busan or Rome will organize the international event.

Saudi Arabia’s giant projects have confirmed the country’s ability to organize an exceptional exhibition, making Riyadh one of the top 10 cities in the world in 2030.

The Kingdom has seen an unprecedented rise in the number of tourists, according to the World Tourism Organization (WTO), ranking second worldwide in the increase of international tourists in the first quarter of 2023, and the highest quarterly performance with a growth rate of 64 percent, during which it received about 7.8 million tourists.

The new international version of the Media Oasis is being held by the Saudi Ministry of Information in Paris from Nov. 26-28, in conjunction with Saudi Arabia’s participation in the 173rd General Assembly meeting.

The majority of participants have agreed in their discussions that the major Saudi projects, which are displayed at the event, prove the city’s ability to organize “an exceptional and unprecedented version that contributes to anticipating the future,” as previously announced by Prince Mohammed bin Salman, Crown Prince and Prime Minister.

Those projects include the King Salman Park and the Sports Track, the largest longitudinal park in the world, the New Square, as well as one of the world’s largest urban afforestation projects, known as Green Riyadh.

In addition to its future projects, the Saudi capital also presents a model of a city with a rich history, with developmental transformations and comprehensive renaissance.

The Diriyah Gate Development Authority introduces the city as the first historical Saudi capital, where culture, beauty, nature and art, make it an exceptional world destination for enthusiasts of history and culture.



Gold Slips as US Bond Yields Rise, Investors Assess New Tariffs

Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo
Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo
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Gold Slips as US Bond Yields Rise, Investors Assess New Tariffs

Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo
Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo

Gold prices eased on Tuesday, weighed by higher US Treasury yields as US President Donald Trump announced new tariff proposals on trading partners, including Japan and South Korea.

Spot gold was down 0.2% at $3,328.67 per ounce, as of 1207 GMT. US gold futures fell 0.1% to $3,338.20.

The yield on benchmark US 10-year notes rose to a two-week peak, making the non-yielding bullion less attractive.

"Gold is stuck between a rock and a hard place," said UBS commodity analyst Giovanni Staunovo, Reuters reported.

"Negative for the gold price is the US decision to extend the deadline for a trade deal for many trade partners, positive for the gold price is the fact that key US trading partners in Asia might have to deal with higher tariffs in the near future, weighing on economic growth prospects."

On Monday, Trump told 14 countries that sharply higher tariffs would start on August 1, marking a new phase in the trade war he launched in April, with levies between 25% and 40%.

The new deadline was firm, Trump said, adding that he would consider extensions if countries made proposals for a trade deal.

"Reciprocal tariffs" were to be capped at 10% until July 9 to allow for negotiations, but so far, agreements have been reached only with Britain and Vietnam. In June, Washington and Beijing agreed on a framework covering tariff rates.

Meanwhile, China has warned the Trump administration against reigniting trade tensions and threatened to retaliate against nations that strike deals with the US to exclude it from their supply chains.

Trump's tariffs have stoked inflation fears, further complicating the US Federal Reserve's path to lower interest rates.

Investors await minutes of the Fed's June meeting, due on Wednesday, for more clues into the bank's policy outlook.

Spot silver fell 0.1% to $36.71 per ounce, platinum rose 0.2% to $1,372.51, and palladium rose 0.6% to $1,117.33.