Business

Expectations of the end of gold’s rally and fears of a 1980-style scenario
Cathie Wood, CEO of ARK Invest, said in an interview with Sky News Arabia that gold’s gains may be nearing their end, noting that global economic shifts and technological innovations are increasingly influencing investment in precious metals.

Wood explained that history shows recurring patterns gold prices peaked during two major periods: the first following the market crash of 1929–1930, and the second at the end of the 1970s. “After those peaks, markets began offloading gold for years,” she said.

“We believe this time will be similar to what happened in 1980, and we may soon see gold’s rally come to an end,” Wood added.

She emphasized that transformations in the global financial system including the rise of digital currencies are reducing reliance on gold as a safe haven.

Wood stated that “Bitcoin currently represents a digital store of value that could reach $1 million in the future, while gold is gradually retreating from its record highs.”

She linked technological innovation to its impact on financial markets, noting that advances in fields such as robotics, cloud storage, and digital technology are driving new investment growth and shifting investors’ focus away from traditional assets like gold.

“Today, investors are focusing on technology-based assets that offer long-term returns, reducing gold’s traditional role in investment portfolios,” she said.

Wood also pointed out that the U.S. dollar is going through a period of relative weakness, stressing that “digital currencies may continue to evolve, reducing the need for gold as a hedge against inflation.” She added, “Investors should consider diversifying their portfolios to include technology and digital assets, rather than relying solely on precious metals.”

Her comments come amid global market volatility and the surge in digital asset values, reflecting a broader shift in investor mindset — from depending on gold as a safe haven to seeking innovative investment tools better suited to the digital future.

Business

Two major parks planned in Riyadh

Authorities in the Saudi capital have unveiled plans to develop two expansive public parks covering more than 310,000 square metres as part of a broader push to increase green spaces across the city.

The Riyadh Region Municipality confirmed on Wednesday that the new developments will be situated in the eastern and southern districts of the capital. The project is designed to transform the city’s urban landscape, shifting away from traditional park layouts toward integrated “urban destinations” that cater to both recreation and environmental sustainability.

Central to the design is a scenic valley that will serve as a functional and visual anchor for both sites. According to municipal officials, the parks are intended to bolster the city’s “urban fabric” by providing high-quality public areas that align with the quality-of-life goals set out in the Saudi Vision 2030 framework.

The facilities planned for the 317,200-square-metre footprint are extensive. Beyond standard greenery, the sites will feature a golf course, multi-purpose sports fields, and dedicated jogging tracks. Families will have access to children’s play areas and water features, while the inclusion of a theatre and designated event spaces suggests the parks will double as cultural hubs for the local community.

“These parks represent high-quality developments aimed at expanding public spaces across the capital,” the municipality said in a statement. The announcement noted that the projects would also include a range of commercial amenities, including restaurants and cafés, to ensure the parks remain active throughout the day.

This latest initiative follows a series of large-scale environmental projects in the Kingdom, where officials are increasingly prioritising “livability” as Riyadh undergoes population and infrastructure expansion. The municipality highlighted that the design focuses on “environmental sensitivity,” incorporating innovative greening techniques to manage the arid climate while maintaining sustainable water use.

Business

Prince William to Official Visit Saudi Arabia in February

Britain’s Prince William is set to visit Saudi Arabia for the first time in an official capacity, Kensington Palace announced on Wednesday. The trip is scheduled from February 9 to 11, 2026.

Strengthening Ties Between the UK and Saudi Arabia

According to Kensington Palace, the visit comes as the UK and Saudi Arabia mark growing trade, energy, and investment partnerships. It also coincides with celebrations of nearly a century of diplomatic relations between the two nations.

A First for the Duke

This will be Prince William’s first official trip to Saudi Arabia, highlighting the importance of the country in the UK’s international relations and economic strategy.

What to Expect

While details of the itinerary haven’t been fully released, the visit is expected to include meetings with Saudi officials and discussions on trade, investment, and energy collaboration.

The visit signals a continued focus on strengthening ties between London and Riyadh, while marking a historic moment in Prince William’s international engagements.

Business

Japan tourist arrivals hit record 42.7 million in 2025

Tourists to Japan hit a record 42.7 million in 2025, exceeding 40 million for the first time, Japan’s Tourism Minister, Yasushi Kaneko, told a press conference.

Total spending by inbound tourists reached 9.5 trillion yen ($60 billion) over the year, also ‌a record high.

WAM