Author: Steven Sahiounie

In the early hours of Tuesday, the Israeli military announced the launch of a ground military operation in southern Lebanon. According to a statement from the Israeli army, they have begun limited and targeted raids against Hezbollah positions near the border. These targets, located in villages close to the Israel-Lebanon border, are described as posing a direct threat to civilian populations in northern Israel. Air and Artillery Support The statement also highlighted that the Israeli air force and artillery units are providing support to the ground forces through precise strikes on military targets in the region. The operation, referred to…

The United States is set to announce nearly $336 million in additional humanitarian aid for Palestinians in Gaza and the West Bank, according to a statement from the U.S. Agency for International Development (USAID) cited by Reuters on Monday. This funding will help USAID’s partners continue to provide vital humanitarian assistance, including food, healthcare, nutrition, and other essential services. The aid will also offer emergency shelter support for displaced families in Gaza ahead of the winter season. Humanitarian Crisis Worsens in Gaza and the West Bank The statement highlights the ongoing humanitarian crisis in Gaza and the West Bank, noting…

Oil prices dropped on Monday, continuing their downward trend for the third consecutive month. This decline comes as the market reacts to expectations of increased supply and uncertainties around global demand, outweighing concerns that escalating Israeli strikes in Lebanon and Yemen could intensify the conflict in the Middle East. As of 11:40 GMT, Brent crude futures for November delivery, expiring today, fell by 66 cents or 0.9% to $71.32 per barrel. The more actively traded December contract dropped 41 cents or 0.6% to $71.13 per barrel. Similarly, West Texas Intermediate (WTI) crude futures declined by 51 cents or 0.8% to…

Russia plans to increase its defense budget by nearly 30% in 2025, allocating 13.5 trillion rubles ($145 billion) to military spending. This significant rise in defense expenditure is aimed at funding the ongoing military operation in Ukraine, as reported by AFP. Moscow has ramped up its military spending to levels not seen since the Soviet era, rapidly supplying its army with missiles and drones while offering substantial salaries to hundreds of thousands of soldiers fighting on the front lines. Defense and Security Priorities According to the draft budget, published on the Russian State Duma’s website, defense and security spending will…

Saudi Arabia’s Ministry of Finance announced on Monday, in its preliminary budget statement, that the Kingdom expects a deficit of 2.3% of GDP for the fiscal year 2025. According to the budget forecast, Saudi Arabia is projecting total government spending to reach 1.285 trillion riyals ($342 billion), while revenues are anticipated to be 1.184 trillion riyals in 2025. The Kingdom also forecasts 0.8% growth in real GDP for 2024, followed by a stronger 4.6% growth in 2025, signaling an optimistic outlook for economic recovery.

The Abu Dhabi Securities Exchange (ADX) will witness the listing of “Space 42” shares, following the successful merger between Bayanat and Yahsat. With the commencement of trading, Space 42 will become one of the largest space technology companies listed on global stock markets. Its leadership in space technologies and geospatial solutions marks a major milestone in the UAE’s space and artificial intelligence (AI) sectors, according to the Emirates News Agency (WAM). About Space 42 Space 42 is comprised of two business units: The company’s key shareholders include G42, Mubadala, and International Holding Company (IHC). Space 42 will benefit from strong…

The United Arab Emirates (UAE) has pledged urgent humanitarian aid worth $100 million to Lebanon, according to the Emirates News Agency (WAM). On Monday, the UAE President, Sheikh Mohamed bin Zayed Al Nahyan, announced this relief package aimed at supporting the Lebanese people during their ongoing crises. This initiative reflects the UAE’s continuous efforts to assist Lebanon in facing its current challenges and reinforces the nation’s commitment to supporting the Lebanese people. The financial aid highlights the strong ties between the two nations and the UAE’s readiness to provide humanitarian assistance in times of need.

ADNOC Drilling announced today the establishment of “Turnwell,” a joint venture with SLB and Patterson-UTI, to accelerate the delivery of 144 unconventional oil and gas wells. This follows the successful completion of initial wells in the program, according to a statement seen by Sky News Arabia. Through its wholly-owned subsidiary, ADH RSC LTD, ADNOC Drilling signed final agreements with SLB and Patterson-UTI to create the Turnwell joint venture. ADNOC Drilling will own a majority stake of 55%, with SLB holding 30% and Patterson-UTI owning the remaining 15%. Turnwell has been equipped with advanced capabilities and technologies to serve as ADNOC…

Outgoing bloc head Jens Stoltenberg has brushed off Moscow’s warningsNATO is not worried about Russia’s recently announced updates to its nuclear doctrine, the outgoing secretary general of the US-led bloc, Jens Stoltenberg, has said. Russian President Vladimir Putin announced new rules for the use of nuclear weapons last week, citing new threats from the West. The move has been widely understood as a message to the US and its allies about “red lines” in their proxy war in Ukraine. NATO has not detected any changes in Russia’s nuclear posture “that requires any changes from our side,” Stoltenberg told Reuters on Monday, in his last interview from the NATO…

Tehran is not afraid of war but stands for a safe and stable Middle East, spokesperson Nasser Kanaani has saidIran will not send troops to Lebanon or Gaza to confront Israel, the Foreign Ministry in Tehran announced on Monday. The statement comes amid Israel’s intensified attacks against the Lebanon-based militant group Hezbollah and the Houthis in Yemen. Tehran does not seek war but is not afraid of it and stands for a safe and stable Middle East, the ministry stressed. “There is no need to send extra or volunteer forces of the Islamic Republic of Iran,” Foreign Ministry spokesperson Nasser Kanaani…