Author: Steven Sahiounie

The Council of Ministers of Culture of the Islamic World, at its meeting held in Doha today, chose the Palestinian city of Hebron as the capital of Islamic culture for the year 2026. Minister of Culture Atef Abu Saif said Hebron was nominated to shed light on the Israeli attempts to Judaize the city, steal its heritage and antiquities, and change its Arab-Islamic identity. He said that naming Hebron as the capital of Islamic culture for 2026 is of great importance because it means that the Islamic world will focus its efforts on cultural work in Hebron with programs, plans and…

The CIA was ready to sabotage the pipelines as early as last January, intelligence sources told the veteran reporter US President Joe Biden initially planned on destroying the Nord Stream gas pipelines to deter Russia from launching its military operation in Ukraine, American journalist Seymour Hersh reported on Tuesday. However, Hersh alleged that the sabotage operation went ahead later not to deter Russia, but to damage the German economy. The Nord Stream 1 and 2 gas pipelines, which connected Russia and Germany through the Baltic Sea, were destroyed in a series of underwater explosions exactly a year ago on Tuesday. Competing theories…

Syria demanded the lifting of the coercive measures imposed on it and on a number of countries, as it is considered economic terrorism. Ambassador Bassam Sabbagh, head of the Syrian delegation to the 78th session of the UNSC said that the world is witnessing serious challenges, foremost of which is fueling devastating conflicts in several regions, the continued occupation and the spread of terrorism, which requires cooperation among member states to build a new multipolar world order. He added that US policies of creative chaos led to the destabilization of security and stability in our region and caused the emergence…

The minister explained that this rise was driven by the growth achieved in oil activities by 1.4 percent and in non-oil activities by 2.1 percent Muscat: Dr. Said Mohammed Al Saqri, Minister of Economy has affirmed the recovery of the Omani economy from the impact of the Covid-19 pandemic. This, said the minister, reflects positive developments in the performance of overall indicators, as the Omani economy witnessed a growth in fixed prices, amounting to 2.1 percent during the first half of 2023. In his speech during the media gathering organized by the Ministry of Economy today, the minister explained that…

The partnership will also help reduce the company’s carbon emissions and back private sector jobs The International Finance Corporation (IFC) is supporting Egypt-based Kandil Steel’s operational and financial situation position with a $25 million loan, the IFC stated. The partnership will also help reduce the company’s carbon emissions and back private sector jobs. The financing will enable the firm to meet its capital needs and get further raw materials needed for production of high-quality steel. Furthermore, the IFC will offer advisory services to the company, assisting it in developing a decarbonization program as well as enhancing its environmental and social…

The Industrial Support Fund is part of the government’s continuous support to the national industry AMMAN — Minister of Industry, Trade and Supply, and Minister of Labour Yousef Shamali attended an event to announce the results of evaluations and the signing of agreements with selected industrial units to benefit from the first round of the three Industrial Support Fund programmes, namely the Industrial Modernisation, Export Promotion and Export Credit Guarantee. The results showed that 222 industrial units were selected to receive a total financial support of approximately JD13 million as non-refundable grants and financial guarantees. During the ceremony, which was…

Benchmark copper on the London Metal Exchange (LME) was down 0.2% at $8,130 a metric ton in official open-outcry trading Copper prices fell on Tuesday due to concerns about demand in top metals consumer China and high inventories on top of persisting pressure from a strong dollar and higher-for-longer interest rate expectations. Benchmark copper on the London Metal Exchange (LME) was down 0.2% at $8,130 a metric ton in official open-outcry trading. The metal used in power and construction touched its lowest since May 31 at $8,068 earlier in the session and lost 2.2% last week. “Strength in the U.S.…

Spot gold edged down 0.3% to $1,910.10 per ounce by 1156 GMT Gold prices fell on Tuesday as bullion’s appeal dimmed in the face of a stronger U.S. dollar and higher Treasury yields, while investors strapped in for key inflation data for further rate guidance on U.S. rates. Spot gold edged down 0.3% to $1,910.10 per ounce by 1156 GMT, its lowest since Sept. 15, while U.S. gold futures fell 0.3% to $1,930.10. “With the U.S. dollar once again on the front foot and yields edging to their highest levels since 2007, gold prices could well struggle to return to…

Inflation dropped from 10.1% in February to 5% in August RABAT – Morocco’s central bank kept its benchmark interest rate steady at 3%, saying the borrowing rate was consistent with the inflation outlook as the country prepares to meet the costs of reconstruction after September’s earthquake. Inflation dropped from 10.1% in February to 5% in August, below the annual 6% average expected this year, the bank said in a statement following its quarterly meeting. The bank said GDPO growth would improve from 2.9% this year to 3.2% next year, without taking into account the earthquake’s impact. Source: Zawya

The Fed last week held its policy rate steady in a range of 5.25%-5.50% Minneapolis Federal Reserve Bank President Neel Kashkari said in an essay on Tuesday he sees a “soft landing” for the U.S. economy likelier than not, but also sees a 40% chance that the Fed will need to raise rates “meaningfully” higher to beat inflation. The Fed last week held its policy rate steady in a range of 5.25%-5.50%, but most policymakers signaled they believe one more interest-rate hike by the end of the year will likely be appropriate. Kashkari said Monday he is in that majority.…