Author: Steven Sahiounie

RIYADH: Saudi Arabia will register “incredible” economic growth in the next four years, with its financial wealth growing by a compound annual rate of 4.3 percent to hit $1.3 trillion in 2027, according to global management firm Boston Consulting Group. A report released on Wednesday further disclosed that real assets in the Kingdom are expected to hit SR3.6 trillion ($960 billion) in 2027, up from SR2.7 trillion in 2022. The report further revealed that currency and deposits represented the largest asset class in Saudi Arabia, making up 48 percent of total personal wealth in 2022. Earlier this month, the International…

Chinese President Xi Jinping and Venezuelan President Nicolas Maduro announce that the two countries will be enhancing their partnership and cooperation. President Xi Jinping of China and his Venezuelan counterpart, Nicolas Maduro, held a crucial meeting on Wednesday, culminating in the announcement of an “upgrading of China-Venezuela relations” to an “all-weather strategic partnership.” This significant development was reported by state media and marks a pivotal moment in the diplomatic ties between the two nations. On his part, Maduro hailed Venezuela’s ties with China, describing the Asian giant as a “non-hegemonic country like those that blackmail, dominate, and attack the peoples…

Two military personnel were martyred and six others injured as a result of Israeli aggression against some of our air defense positions in Tartous countryside. In a statement to SANA, a military source stated that “at 17.22 this afternoon, the Israeli enemy carried out aggression with bursts of rockets from the direction of the Mediterranean Sea, targeting some of our air defense positions in Tartous.”. The source added that the aggression led to the martyrdom of two soldiers, the wounding of six others, and some material losses. Source: SANA

Antonio Guterres noted that he will hold separate contacts with the representatives of the Russian Federation, Ukraine and Turkey UN Secretary-General Antonio Guterres will discuss the renewal of the grain deal with Russian Foreign Minister Sergey Lavrov, as well as with presidents of Turkey and Ukraine Tayyip Erdogan and Vladimir Zelensky next week. The discussions will be held at personal meetings as part of the high-level week of the UN General Assembly. “Next week, I will be receiving president Zelensky I will be receiving president Erdogan I will be receiving minister Lavrov and obviously, this question will be on the…

The Russian head of state told reporters that the North Korean leader “shows great interest in rocket technology” as the nation is trying to develop its space industry Russian President Vladimir Putin and North Korean leader Kim Jong Un have ended their talks that lasted more than five hours. The leaders met at 7:09 a.m. Moscow time at the Vostochny Spaceport. Putin came by plane from Vladivostok, where he had taken part in the Eastern Economic Forum. Kim arrived aboard his train, a day after crossing into Russia. At a Russian train station in the city of Khasan near the…

Maria Zakharova added that the ministers would focus on a wide range of bilateral issues, including communication at the highest and high levels Russian Foreign Minister Sergey Lavrov and Chinese Foreign Minister Wang Yi are scheduled to hold talks in Moscow on September 18, Russian Foreign Ministry Spokeswoman Maria Zakharova said during a briefing on the sidelines of the Eastern Economic Forum (EEF). “On September 18, Russian Foreign Minister Sergey Lavrov and Chinese Foreign Minister Wang Yi are holding talks in Moscow,” the diplomat said. “They are due to exchange views on the Ukrainian settlement, as well as on ensuring…

Javad Owji made the remarks on the sidelines of the Cabinet meeting on Wednesday and added, “Fortunately, effective measures have been taken at the ministry in the field of flared gases in western and eastern parts of the country.” He pointed to the Hoveyzeh Gas Refinery and stated that the refinery was recently put into operation in a ceremony attended by President Ebrahim Raisi. Turning to the gas flares in eastern fields of Karun, Owji noted that 21 million cubic meters of gas will be added to the current gas capacity of the country with the collection of 52 flares, which…

OPEC figures showed that Iran had supplied oil to customers in August at prices that were higher than average OPEC and Brent prices. Iranian crude oil prices increased to $87.58 per barrel in August from $81.48 reported in July, showed the data, Press TV reported. The average OPEC price in August was $87.33 per barrel while the price of Saudi Arabia’s light crude was $89.55, OPEC figures showed. The data is consistent with earlier reports suggesting Iran had managed to supply record volumes of crude oil to Asian customers in August while being able to earn more from the shipments…

Vegetable, livestock corn, tomato, cucumber and pepper seeds were the five seed species imported into the country from March 21 to August 22, 2023, Seyed Rouhollah Latifi noted. In this timespan, 245,779 kg of vegetable seed, valued at over $10 million, and 3,342 kilograms of onion seed, valued at over $613, were imported into the county, he stated. In addition, 76,800 kg, 5,040 kg, 6,275 kg and 2,300 kg seeds of grass, sunflower, ornamented plants and colza seeds were imported into the country from March 21 to August 22, 2023, the official added. Source: Tasnim

Millions of American families, including children, descended into poverty in 2022 due to the waning government-funded pandemic aid and declining incomes. Recently released data by the US Census Bureau shows that millions of American families fell into poverty in the wake of dwindling government-funded pandemic assistance and shrinking incomes with children hit the hardest, as their poverty rate doubled compared to the previous year. The abrupt surge in poverty has been described as “stunning” by Sharon Parrott, President of the Center on Budget and Policy Priorities. Parrott attributes this distressing increase in child poverty to the cessation of the expanded…