Author: Steven Sahiounie

Speaker of the Iranian Parliament Mohammad Baqer Qalibaf has traveled to South Africa to take part in the 9th Parliamentary Forum of BRICS. Heading a parliamentary delegation, the top Iranian lawmaker is in Johannesburg to attend the BRICS forum, whose theme is “harnessing multilateralism and parliamentary diplomacy to deepen BRICS and Africa partnership for accelerated implementation of the Africa free-trade agreement.” During the event, being held on September 27 and 28, the Iranian delegation will reportedly hold meetings with foreign officials to strengthen parliamentary relations with the BRICS members, deal with the major regional and global challenges through parliamentary diplomacy,…

China strategic relations is a significant factor to build multipolar world order, said Chairman of the Czech Institute of International Relations (IIR), Jaromir Shalabata. “The visit by President Bashar al-Assad to China puts Syria in the place it should be, where the China-Syria strategic partnership and the ongoing work to build a new multipolar order based on respect, justice and equality, Shalabata added. He noted that the talks in China constitute a key and influencing element in the developments in the region and the world as security and stability can be achieved only in multipolar order that contributes to establishing…

Tor Wennesland, United Nations Special Coordinator for the Middle East Peace Process, today expressed deep concern at the situation in the Gaza Strip following a visit to the besieged sea enclave, saying it is dire. “Deeply concerned by the escalating tensions in and around Gaza,” he said in a tweet. “The situation inside the Strip is dire and we must avoid another conflict that will have grave consequences for all. The people of Gaza have suffered enough and deserve more than a return to calm.” Wennesland said the United Nations “is talking to and working with all concerned to improve…

Prime Minister Mohammad Shtayyeh today said the appointment of a Saudi ambassador to Palestine carries an important message, that the two sides in one trench and the Palestinian-Saudi relations are strong and strategic. The Prime Minister made this remark upon receiving in his office the new non-resident Saudi ambassador to Palestine and Consul General in Jerusalem, Nayef bin Bandar al-Sudairi. “The rise and progress of the Kingdom is good for Muslims and Arabs and good for Palestine in particular. We are happy with the pioneering and advanced Saudi role in the region and the world, because this pushes the Palestinian cause…

RIYADH: Saudi Arabia’s real estate sector has garnered significant interest from investors in the UAE, according to a top developer based in Abu Dhabi. Speaking to Arab News on the sidelines of the Future Hospitality Summit, IMKAN Properties’ CEO Suwaidan Al-Dhaheri said that the Kingdom holds numerous untapped opportunities in the realty sphere. “Saudi Arabia is a booming place and there is no reason not to invest in Saudi, if there’s a chance and I’m sure there will be a chance in the future to invest,” Al-Dhaheri said. He noted that the demand for developers in the Kingdom is growing,…

RIYADH: World Bank Group President Ajay Banga on Tuesday said proposed new contributions from wealthy countries combined with balance sheet changes could boost the bank’s lending capacity by $100 billion to $125 billion over a decade. Banga told a Council on Foreign Relations event that the contributions would come outside the bank’s normal shareholding structure and regular country contributions to the International Development Association fund for the poorest countries. They would include US President Joe Biden’s proposed $2.25 billion supplemental budget request for the World Bank, along with expected contributions from Germany, Japan, South Korea, Saudi Arabia and Nordic countries, he…

RIYADH: The Saudi Fund for Development has signed a $10 million contribution agreement with the Asian Infrastructure Investment Bank to bolster the financial institution’s newly established programs, as reported by the Saudi Press Agency. This initiative is designed to strengthen infrastructure development in low-income member countries. It aims to aid AIIB in bridging the financing gap in infrastructure and other productive sectors within these nations, according to the SPA. The agreement underscores collaborative efforts with international institutions to fund projects and development programs in these less developed nations, with the goal of achieving economic prosperity and social growth. The deal was…

The measure applies to non-residents from ‘unfriendly’ countries The Russian central bank has extended restrictions on financial transfers abroad by non-residents from ‘unfriendly’ countries. The measures will be prolonged for another six months from October 1. According to a statement from the Bank of Russia on Tuesday, the limits will apply to transfers from the accounts of individuals and legal entities. “This decision was made in order to maintain financial stability,” the central bank explained. The Bank of Russia originally introduced the restrictions in April 2022. The ban was last extended in March of this year. Under a government decree, payments…

Gross domestic product will fall 0.5% this year, according to the IMK institute Germany’s GDP is expected to shrink by 0.5% this year as the EU’s largest economy continues to struggle with an energy crisis and higher interest rates, the IMK institute reported on Tuesday. The IMK’s forecast of 0.7% GDP growth for 2024 is also significantly more pessimistic than its spring projection of 1.2%. Other German economic institutes such as the Ifo expect GDP growth of 1.4% for 2024. “The German economy, weakened by energy price shocks, will not really get going in the coming months, because high interest…

Consumer goods sales rose sharply in the summer, according to a consulting firm Retail trade in Russia this summer surpassed levels last seen prior to the West’s major extension of Ukraine-related sanctions early last year. That’s according to a study by consulting firm FinExpertiza based on data from state statistics agency Rosstat. Analysts noted a decline in retail sales from April 2022 following the start of Moscow’s military operation in Ukraine and subsequent sanctions, which led to Russians “reducing unnecessary spending and building up cash cushions for the future.” Retail turnover dropped for 12 consecutive months until March 2023, before beginning to bounce back…