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Gold falls below record highs but holds above $5,000

Gold prices fell on Tuesday but remained above $5,000 an ounce, as investors remained cautious ahead of key U.S. jobs and inflation data later this week that will determine the Federal Reserve’s interest rate path.

Spot gold fell 0.7 percent to $5,029.49 an ounce by 03:32 GMT. The metal had risen 2 percent on Monday as the dollar fell to its lowest level in more than a week. It had hit a record high of $5,594.82 an ounce on January 29.

US gold futures for April delivery fell 0.5 percent to $5,052 an ounce.

The spot price of silver fell 2.1 percent to $81.64 an ounce, after rising nearly 7 percent in the previous session. It had reached an all-time high of $121.64 on January 29.

Ilya Spivak, head of global macroeconomics at Tatsui Life, said: “The cold war and economic competition between the United States and China is unlikely to end for years to come… So we are in a situation where gold has a general upward bias, and the question now is to what extent the Federal Reserve’s short-term monetary policy expectations will affect it.”

The dollar suffered sharp losses on Tuesday, while the yen held onto its gains following Prime Minister Sanae Takaichi’s landslide election victory.

Spivak added that gold is moving around the $5,000 level between upper and lower price ranges, while silver is showing greater volatility in speculative trading.

White House economic adviser Kevin Hassett said on Monday that U.S. job gains may be lower in the coming months due to slowing labor force growth and rising productivity, reinforcing the debate within the Federal Reserve about the path of interest rates.

Investors anticipate at least two interest rate cuts of 25 basis points each in 2026, with the first cut expected in June. The precious metal, which does not offer a yield, tends to perform well in low interest rate environments.

Data expected this week includes December’s monthly retail sales, January’s consumer price index, and January’s non-farm payrolls report.

The spot price of platinum fell 2.1 percent to $2,084.09 an ounce, while palladium lost 1.7 percent to $1,710.75.

 Asharq -Al Awsat

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Business

EU Rejects Higher US Tariffs After Court Ruling, Says ‘Deal Is a Deal’

EU says it will accept no increase in US tariffs after Supreme Court ruling: ‘a deal is a deal.’

The European Commission demanded on Sunday, February 22, 2026, that the United States stick to the terms of an EU-U.S. trade deal reached last year after the U.S. Supreme Court struck down Donald Trump’s global tariffs and he responded with new levies across the board.

After the court struck down Trump’s global tariffs on Friday, the U.S. president announced temporary, across-the-board tariffs of 10%, which he then hiked to 15% a day later.

The Commission, which negotiates trade policy on behalf of the 27 EU member states, said Washington must provide “full clarity” on the steps it intends to take following the court ruling.

“The current situation is not conducive to delivering ‘fair, balanced, and mutually beneficial’ transatlantic trade and investment, as agreed to by both sides” in the joint statement setting out the terms of last year’s trade agreement, the Commission said. “A deal is a deal.”

The comments were far more strongly worded than the Commission’s initial response on Friday, which had said only that it was studying the outcome of the Supreme Court decision and keeping in contact with the U.S. administration.

Last year’s trade deal set a 15% U.S. tariff rate for most EU goods, apart from those covered by other sectoral tariffs such as on steel. 

It also allowed zero tariffs on some products such as aircraft and spare parts. 

The EU agreed to remove import duties on many U.S. goods and withdrew a threat to retaliate with higher levies.

“In particular, EU products must continue to benefit from the most competitive treatment, with no increases in tariffs beyond the clear and all-inclusive ceiling previously agreed,” the EU executive said, adding that unpredictable tariffs were disruptive and undermined confidence across global markets.

It said that EU Trade Commissioner Maros Sefcovic had discussed the issue with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick on Saturday,February 21,2026.

The international News

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Business

France’s Thales to hire 9,000 in 2026, 60 vacancies in the UAE

 French defence and aerospace giant Thales plans to recruit more than 9,000 new employees worldwide in 2026 — including 60 roles in the UAE and 30 in Saudi Arabia.

The global hiring drive follows the recruitment of 8,800 employees in 2025, exceeding the company’s original target of 8,000 new hires.

In total, 150 jobs are planned across the Middle East and Africa next year. The company is also recruiting 450 workers in India.

The global hiring drive follows the recruitment of 8,800 employees in 2025, exceeding the company’s original target of 8,000 new hires.

In total, 150 jobs are planned across the Middle East and Africa next year. The company is also recruiting 450 workers in India.

Patrice Caine, CEO of Thales, said, “Together, we are shaping the future by inspiring an increasing number of young people, especially young women, to pursue careers in science and technology.”

Thales employs more than 83,000 people in 68 countries and generated €20.6 billion in sales in 2024. The company said strengthening diversity remains a priority.

In 2025, women accounted for 32 per cent of all recruitments. It added that 69 per cent of its management committees include at least four women, with a target of 75 per cent in 2026.

Thales also reported an employment rate of over 7 per cent for people with disabilities in France in 2025.

Strong demand for jobs

Thales said it received 1.4 million applications worldwide in 2025, up from one million CVs in 2024. The recruitment advisory Universum’s ranking also placed Thales first among the most attractive employers for engineering school students in France.

Around 40 per cent of new hires in 2026 will go into engineering roles, including software, systems engineering, cybersecurity, artificial intelligence and data. A further 25 per cent will be recruited into industrial positions such as technicians, operators and engineers.

In France alone, the company plans to hire 3,300 people across several regions.

Thales has maintained a presence in the UAE for over 50 years, employing more than 500 people across three main offices.

Thales operates entities like Thales Emarat Technologies (TET), which focuses on defence and aerospace capabilities.  

Thales’ key products include avionics, flight decks, and in-flight entertainment systems for aviation, along with radars, missiles (Starstreak, Crotale), armoured vehicles (Bushmaster, Hawkei), and unmanned drones (Watchkeeper) for defence. 

GN

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Business

Saudi Halal Ecosystem Boosts Export Competitiveness

-Makkah Halal Forum 2026 marked a pivotal milestone in the development of Saudi Arabia’s halal industry, ushering in a new phase of structured institutional action.
This shift moves the sector beyond theoretical discourse toward a fully integrated implementation framework. It cements the Kingdom’s global leadership in halal and enhances the credibility of Saudi products in international markets.
The forum witnessed the launch of a package of strategic enablers reflecting the maturity of the Saudi experience in the sector. Chief among them was the introduction of the Halal Academy as a specialized knowledge and training arm dedicated to building professional expertise and raising standards across the entire value chain.
The event also saw the unveiling of the Golden Halal logo, a high-level accreditation mark designed to provide global markets with a unified benchmark of trust, underscoring the Kingdom’s commitment to the highest standards of quality and compliance.
These initiatives signal a strategic shift that goes beyond the traditional concept of religious oversight. Instead, they frame halal as a comprehensive industrial and economic system that integrates Sharia compliance with high quality standards, advanced governance, and digital traceability. The approach is expected to enhance the competitiveness of Saudi exports and facilitate their entry into global markets.
National success stories highlight the tangible impact of this transformation. Chief executive officer and founder of Roya Factory for Food Products Rasha Al Sanea noted that Saudi accreditation has evolved into a comprehensive quality certification that provides companies with a clear competitive edge abroad.
She noted that obtaining certification involves a rigorous process, including assessments of facility safety, manufacturing quality, and compliance with global standards ahead of final audits. These measures strengthen product reliability and boost readiness for international expansion.
Al Sanea added that the presence of international delegations and trade missions in Makkah on the sidelines of the forum helped accelerate expansion opportunities and open direct export channels to several markets.
She emphasized that pairing the Saudi Made logo with accredited halal marks, foremost among them the Golden Halal logo, enhances global consumer confidence and gives Saudi products a strong presence across diverse cultures and markets.
— SPA

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