Author: Steven Sahiounie

“Our adversaries are up to their necks in the proxy war that NATO is fighting against us in Ukraine through the hands of the Kiev regime, which is a full-scale and deadly one,” he stressed NATO is fighting a full-scale war against Russia, using the Kiev authorities as proxies, Russian Security Council Deputy Chairman Dmitry Medvedev said in an op-ed dedicated to the 15th anniversary of Georgia’s invasion of South Ossetia and Russia’s recognition of the independence of South Ossetia and Abkhazia, which was published on the aif.ru website. The politician pointed out that “hostile observers” should have learned a lesson from…

“According to preliminary reports, there were no casualties,” the mayor stressed Air defenses shot down a drone outside Moscow in the early hours of Wednesday morning, while another drone hit a building under construction in the Moscow City financial district, Mayor Sergey Sobyanin wrote on Telegram. “Air defenses downed a drone in the Mozhaisky District of the Moscow Region, while another unmanned aerial vehicle hit a building under construction in the City,” he said. Response teams have been dispatched to the sites, Sobyanin added. “According to preliminary reports, there were no casualties,” the mayor stressed. An aviation official told TASS earlier…

Oil prices rose more than 1 percent on Monday as tighter supply reflected in fewer exports from Saudi Arabia and Russia and high heating oil prices outweighed concern over global demand growth.Brent crude climbed 86 cents, or 1 percent, to $85.66 a barrel by 1205 GMT and US West Texas Intermediate crude was up $1.01, or 1.2 percent, at $82.26.The September WTI contract expires on Tuesday and the more active October contract gained 88 cents, or 1.1 percent, to $81.54 a barrel.Both front-month benchmark prices snapped a seven-week winning streak last week with a weekly loss of 2 percent on…

Iran plans to keep raising oil production as back-door diplomatic efforts with the US appear to be easing pressure on the Middle Eastern nation. The Islamic Republic expects to boost production to 3.4 million barrels a day by the end of summer, according to Oil Minister Javad Owji. That would put output near Iran’s capacity limit of 3.8 million barrels a day. The country has already boosted production by about 50 percent over the past two years, according to comments Owji made to Iranian parliament’s energy committee reported by the ministry’s news service Shana. Owji’s remarks come amid diplomatic efforts…

Speaking on the sidelines of the National Anti-Money Laundering and Financing Terrorism Seminar on Tuesday, Seyed Ehsan Khandouzi pointed to the situation of Iran’s membership at the FATF and added, “According to the financial and judicial reports, salient measures have been taken in the country in the field of fighting against money laundering and financing terrorism which is unprecedented.” He added, “We expect the FATF working group to adopt a technical approach in its evaluation instead of a political approach.” The economic experience of Iran in the determination (and blocking) of the path of financing money laundering and terrorism is an experience…

This is while the global production of steel registered a 0.1 percent decline. According to the report, Iran produced 18,100,000 tons of crude steel from January to July 2023, showing a 4.1 percent rise compared to the same period last year. Iran’s crude steel production in July of the current year reached 2 million tons, registering a 1.5 percent down compared to last year’s July. The report said 63 countries of the world produced 1,103,200,000 tons of crude steel from January to July 2023, recording a 0.1 percent decline compared to the last year’s corresponding period. China is the leading steel…

RIYADH: In a bid to drive depth and agility in macroeconomic and microeconomic learning, King Saud University on Tuesday revealed the results of the elections for the 14th term of the Saudi Economics Association board of directors. The association’s efforts encompass elevating its members’ scientific and occupational competence and fostering professional interaction. Furthermore, the association delivers expert and targeted economic guidance to relevant public and private entities. It also makes it easier for relevant entities and institutions inside and outside the Kingdom to exchange ideas and scientific research in the areas of interest. The new board of directors will be…

RIYADH: Small and medium-sized enterprises in Saudi Arabia received a significant boost as the Kingdom’s SME Bank earmarked more than SR10 billion ($2.66 billion) during the first half of the year, bolstering efforts to diversify the economy and promote entrepreneurship. The allocated funds are expected to provide much-needed financial impetus to SMEs, enabling them to expand their operations, innovate and contribute to job creation, according to a statement. This comes as an extension of the effective partnership between the banking sector and investment agencies. It also falls in line with the government’s efforts to further develop the Kingdom’s SMEs with…

RIYADH: Affirming Saudi Arabia’s commitment toward a sustainable future, the Kingdom is set to host the third edition of the Saudi Green Initiative Forum on Dec. 4 during the 2023 UN Climate Change Conference, also known as COP28. Amid the global push for environmental conservation, the COP28 summit will unfold from Nov. 30 to Dec. 12 at Expo City, Dubai, marking a significant gathering to steer the world toward a greener future. According to an official statement, the SGI Forum at COP28 will convene influential figures, thought leaders, and climate experts, pooling their insights and recommendations to effectively address climate…

Russian President Vladimir Putin announced on Tuesday that getting rid of the dollar in settlements between BRICS countries is an irreversible process. Putin stressed that BRICS is working to strengthen cooperation among member states to accelerate economic growth. Putin expressed Russia’s readiness to return to the grain deal if real fulfillment of obligations to the Russian side. Putin explained that there are challenges to the BRICS group from energy price fluctuations and irresponsible actions from several countries. “Russia, for its part, is actively redirecting transport and logistics flows to reliable foreign partners, including the BRICS countries,” Putin said. Source: Sputnik