Author: Steven Sahiounie

It is reported that industrial cooperation is developing fast MINSK, September 19. /TASS/. Freight turnover between Belarus and Russia rose by 23% in seven months of this year in annual terms, interim head of Russia’s Federal Customs Service Ruslan Davydov said. “In seven months of 2023, freight turnover between Belarus and Russia approached 30 mln tons, which is 23% higher than last year, while in value terms [turnover] grew by around 10%. I would also like to note the growth of Belarusian exports. We started buying more Belarusian equipment . Moreover, industrial cooperation is developing fast,” he was quoted as…

Saudi Arabia’s Minister of Foreign Affairs Prince Faisal bin Farhan received a written message from his UAE counterpart Sheikh Abdullah bin Zayed, related to the bilateral relations that bind the two countries, the Kingdom’s Foreign Ministry said on Tuesday.The message was received by Deputy Minister of Foreign Affairs Waleed Al-Khuraiji, during a meeting with the Emirati ambassador to the Kingdom, Sheikh Nahyan bin Saif at the ministry’s headquarters in the capital, Riyadh, During the reception, bilateral relations were reviewed, in addition to discussing issues of common interest.  Source: Arab News

The Ministry of Foreign Affairs and Expatriates today welcomed the political and diplomatic efforts exerted by Saudi Arabia in cooperation with Jordan, Egypt, and the League of Arab States, in partnership with the European Union, to reinvigorate the peace process in the Middle East and to emphasize the importance of commitment to the two-state solution and the embodiment of the State of Palestine on the 1967 borders. The Ministry confirmed in a statement that these efforts, which contributed to the launch of Working Groups in the presence of 60 countries that met on the sidelines of the United Nations General…

The delegation consists of 22 businessmen operating in various sectors, including industry, agriculture and trade DUBAI, September 19. /TASS/. A delegation from Iran consisting of 22 businessmen from North Khorasan Province has left for Russia for expanding trade and economic ties, head of the region’s Chamber of Commerce, Industries, Mines and Agriculture Maziar Zand said. “A delegation of entrepreneurs from the province [North Khorasan] left for Moscow on Tuesday for expanding trade ties and defining the possibilities of the parties,” he said in an interview with the Iranian IRNA news agency. The delegation consists of 22 businessmen operating in various sectors, including…

Keeping on the joint coordination and cooperation in relation to the criminal offences and exchanging information between Syria and Iraq were the focus of a meeting held in Damascus. The meeting brought together Director of the Criminal Security Department, Major General Hussein Juma’a and Head of the Arab and International Police (Interpol), Brigadier General Alaa Ashour Manati. “The two sides attached great importance to the mutual cooperation along with reinforcing the bilateral ties through the INTERPOL system”, said a statement by the Interior Ministry on its Facebook page. Source: SANA

RIYADH: In a bid to attract investments, the UAE Ministry of Finance has successfully closed its offering of $1.5 billion worth of 10-year US dollar-denominated bonds, set to mature in September 2023, as reported by the Emirates News Agency, also known as WAM. The offering garnered substantial interest, with the order book quickly exceeding $7.4 billion. By the time the final guidance was released, the transaction was oversubscribed by five times, attracting strong demand from domestic, regional and international investors. The bonds carry a yield of 4.917 percent, representing a spread of 60 basis points over US Treasury yields. They have been listed on both the London…

RIYADH: After experiencing a three-month decline, Saudi Arabia’s holdings in US Treasuries saw a 1 percent increase in July to reach $109.2 billion. The details released by the US Treasury Department revealed the Kingdom maintained the 18th spot among the largest holders of US Treasuries in July. Saudi Arabia’s holdings were worth $116.2 billion in March 2023. However, this slipped to $113.3 billion in April and later dropped to $111.3 billion in May. According to the report, the Kingdom’s holdings of US Treasuries included long-term bonds totaling $100.99 billion in July, accounting for 92 percent of the total value. Simultaneously,…

CAIRO: Egypt is planning to float 5 to 10 percent of the company responsible for constructing the new capital near Cairo by the second quarter of 2024, its chairman said on Monday. The sale of shares in the Administrative Capital for Urban Development, of which 51 percent are owned by the Egyptian military and 49 percent by the government’s New Urban Communities Authority, was first earmarked to take place in 2023 at least two years ago. Speaking on Asharq News, Khaled Abbas, chairman of the ACUD, gave no estimate for the value of the offering, but said the timescale of the sale was likely to change. “We might not be…

RIYADH: In a significant step to bolster its financial capabilities, Dubai Aerospace Enterprise has secured a record $1.6 billion credit facility with a consortium of 26 financiers. This financing agreement includes a combination of revolving credit and term financing facilities, with each tranche comprising conventional and Islamic financing components. HSBC and J.P. Morgan have played a key role in this deal by serving as joint bookrunners and mandated lead arrangers. This move reflects the support and confidence that banks have shown in the company and its future growth prospects, according to DAE CEO Firoz Tarapore. “We are delighted with…

RIYADH: In a significant step to boost food security and fight malnutrition in member countries, the Islamic Development Bank has signed a trilateral agreement with two UN bodies. The deal, signed with the Food and Agricultural Organization and the International Fund for Agricultural Development, focuses on strengthening small-scale farmers and providing them with affordable technologies to ensure food security among rural communities. Mansur Muhtar, vice president of operations at the bank, underscored the importance of this cooperation in tackling the pressing challenges of food security and malnutrition faced by many IsDB member countries. “Our collaboration with FAO and…