Author: Steven Sahiounie

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…

New Delhi is identifying citizens who have been forced into money laundering and “dating scams” in Southeast AsiaThousands of Indians are believed to be trapped in several Southeast Asian countries where they are forced to work as “cyber slaves,” the Indian Express reported on Monday. The illegal activities they are allegedly coerced into include money laundering, cryptocurrency fraud, and “dating or love scams” in countries such as Cambodia, Thailand, Myanmar, and Vietnam. According to data compiled by the Indian immigration authorities, almost 30,000 of the 73,138 Indians who traveled to these countries on visitor visas from January 2022 to May 2024 have…

The former leader of France’s right-wing National Rally has rejected claims that the party’s MEPs embezzled fundsRight-wing French politician Marine Le Pen appeared in a Paris court on Monday to stand trial over allegations that senior members of the party she formerly headed, the National Rally, embezzled €3 million ($3.3 million) in EU funds. According to French authorities, the alleged scheme ran between 2004 and 2016, and involved lawmakers from the National Front (as the party was then known) in the European Parliament fictitiously employing 20 assistants who simultaneously held positions within the party.The assistants allegedly did not conduct EU-related…

Lebanese Parliament Speaker Nabih Berri said on Monday that communication with Hezbollah remains ongoing, and the party is not far from his stance regarding ways to achieve a ceasefire in Lebanon. In an interview with Asharq Al-Awsat, Berri stated, “Lebanon is still committed to the path agreed upon with U.S. mediator Amos Hochstein, which aims to secure a ceasefire with Israel and implement UN Resolution 1701.” He added, “The initiative I previously proposed regarding the ceasefire was agreed upon with Hassan Nasrallah, and this agreement remains in place.” Berri’s Initiative Berri has put forward a proposal that seeks to reduce…