Saudi Industry Minister Discusses in Singapore Partnerships in Advanced Manufacturing Technologies 

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings with heads of Singaporean institutions to discuss boosting cooperation. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings with heads of Singaporean institutions to discuss boosting cooperation. (SPA)
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Saudi Industry Minister Discusses in Singapore Partnerships in Advanced Manufacturing Technologies 

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings with heads of Singaporean institutions to discuss boosting cooperation. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings with heads of Singaporean institutions to discuss boosting cooperation. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings with heads of Singaporean institutions to discuss boosting cooperation, benefiting from their expertise in creating sustainable economic growth, developing small and medium-sized enterprises, and partnering on advanced manufacturing technology, reported the Saudi Press Agency on Tuesday.

The meetings were attended by Ministry of Industry and Mineral Resources Assistant Minister for Planning and Development Dr. Abdullah Ali Alahmari, National Industrial Development Center (NIDC) Chief Executive Eng. Saleh Al-Sulami, and Saudi Authority for Industrial Cities and Technology Zones Chief Executive Majed Rafed Al-Argoubi.

During a meeting with Singapore Economic Development Board (EDB) Chairman Png Cheong Boon, Alkhorayef discussed opportunities to bolster cooperation, build partnerships, and benefit from the EDB’s expertise.

He met with Enterprise Singapore Executive Chairman Lee Chuan Teck to explore aspects of cooperation, leveraging the institution’s expertise in capacity building, innovation, and transformation.

Alkhorayef also met with Meinhardt Group's head of the fourth industrial revolution division to discuss modern technologies that could boost efficiency and innovation in the sector.

In his meeting with the Agency for Science, Technology and Research (A*STAR) chief executive, Alkhorayef explored ways to strengthen cooperation with the agency, which is considered one of the top innovative government organizations globally in the field of science and technology.

The minister’s official visit to Singapore is one leg of an economic tour of East-Asia where he is leading a ministry delegation with the aim of deepening bilateral ties, attracting high-quality investments to Saudi Arabia, and exploring mutual investment opportunities in the industrial sector.



Gold Set for Weekly Drop; Traders Await US Inflation Data

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
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Gold Set for Weekly Drop; Traders Await US Inflation Data

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold prices rose on Friday, but were set for a weekly decline after the Federal Reserve signalled a slowdown in rate cuts next year, while focus shifted to a key US inflation print due later in the day.
Spot gold was up 0.5% at $2,606.19 per ounce, as of 0821 GMT, but has lost about 1.5% so far this week.
US gold futures was 0.5% higher at $2,620.60, Reuters said.
Gold is consolidating as "investors await Trump to resume office next year and the Fed will also go meeting by meeting, considering the data development and seeing what is part of Trump's trade policy," said Soni Kumari, a commodity strategist at ANZ.
Investors now await the core Personal Consumption Expenditures (PCE) data, the Fed's preferred inflation measure, for further clues on the US economic outlook.
The Fed cut rates by 25 basis points on Wednesday, but the cautious note struck in its economic projections and expected slowdown of rate cuts pushed gold to its lowest level since Nov. 18.
Data showed on Thursday that the US economy grew faster than expected in the third quarter, while jobless claims also slipped more than anticipated, reinforcing expectations that the central bank will take a cautious approach to policy easing.
A slightly more hawkish set of the Fed's regional bank presidents will become voters on its rate-setting panel in 2025, raising the chance that any further rate cuts next year could spur more dissents like the one seen from the head of the Cleveland Fed.
Higher rates dull the appeal of the non-yielding asset.
According to Reuters technical analyst Wang Tao, spot gold may retest support at $2,582 per ounce.
Spot silver gained 0.1% to $29.06 per ounce but was headed for its worst week since April.
Platinum dropped 0.2% at $921.50 and palladium rose 0.5% to $910.63. Both the metals were poised for weekly losses.