Author: Steven Sahiounie

One of Hunter Biden’s attorneys is seeking withdrawal, citing the potential need to appear as a witness in upcoming legal proceedings. A motion filed in the US District Court for the District of Delaware on Tuesday has revealed that one of Hunter Biden’s attorneys is seeking permission to withdraw from his defense in the ongoing tax and firearms charges case against the president’s son. The attorney, Christopher J. Clark, cited the potential need to appear as a witness in forthcoming legal proceedings as the reason for his request. “Christopher J. Clark, having appeared in this matter for Defendant Robert Hunter…

The European Union today disbursed €22 million for the payment of social allowances to 71,162 vulnerable Palestinian families through the National Cash Transfer Program, according to a press release. For the past 17 years, the European Union has been a steadfast supporter of the Palestinian Authority’s (PA) Ministry of Social Development (MoSD), collaborating to ensure that basic social allowances are extended to the most vulnerable families residing in the West Bank and Gaza. According to the press release, the European Union has contributed with €22 million “to support the most vulnerable Palestinian families in this particularly harsh economic and fiscal…

Russia strives to actively seek partners and form international scientific and technological industrial cooperation in order to ensure an acceptable level of import independence in areas of communication network development that are not critical for technological sovereignty MOSCOW, August 15. /TASS/. By 2030, Russia should create a Russian low-orbit satellite constellation to provide communication services within the country and export them to foreign countries by 2035, according to draft strategy for the growth of the communications industry until 2035. Thus, the strategy contains the task to “develop a domestic low-orbit satellite constellation before 2030 to provide communication services throughout Russia…

Tenchat is now accessible in twelve countries MOSCOW, August 15. /TASS/. Tenchat has initiated talks of entering Iraq and the service may go live in the country this fall, founder of the Russian business social network Semyon Tenyaev told TASS. “Tenchat has started negotiations on accommodation and mutual integration of company’s servers on the territory of Iraq in conditions of developing bilateral trade between Iraq and Russia,” Tenyaev said. The social network may start operations in Iraq in fall 2023, the network’s press service told TASS. Tenchat is now accessible in twelve countries – Russia, Belarus, Kazakhstan, Uzbekistan, Azerbaijan, Armenia,…

Importers of Russian airplanes continue purchases, despite the pressure from the West, Yury Slyusar noted MOSCOW, August 15. /TASS/. Efficiency of Russian combat aircraft demonstrated during the special military operation in Ukraine contributes to higher sales, chief executive of the United Aircraft Corporation (UAC) Yury Slyusar said in an interview with the Rossiya-24 TV Channel at the Army-2023 Forum. “Results demonstrating by our aircraft when performing missions in the special military operation are certainly boost such interest,” Slyusar said. “The ones buying are ordering more; new buyers appear,” he noted. Importers of Russian airplanes continue purchases, despite the pressure from the West,…

RIYADH: Saudi Arabia’s National Debt Management Center restructured SR35.7 billion ($9.5 billion) worth of debt instruments into four new tranches of sukuk issuance with longer-term maturities, said a press release issued on Monday. It has arranged the early purchase of outstanding debt instruments maturing in 2024, 2025, and 2026 with a total buyback of SR35.7 billion, described as the largest early transaction by the center. Following the transaction, the NDMC issued four tranches of new sukuk offerings with a total value of SR35.9 billion. The first tranche has a size of SR7.5 billion maturing in 2031, the…

RIYADH: In a bid to boost economic cooperation and develop non-oil exports to Iraq, the Saudi Export Development Authority organized a trade mission to the city of Erbil. The authority, under the identity of “Made in Saudi Arabia,” promoted non-oil exporters and their goods, advanced the competitiveness of products from the Kingdom on global markets and explored new trade cooperation opportunities between the two countries. According to the Saudi Press Agency, more than 34 Saudi companies and 140 Iraqi firms from a variety of sectors, most notably building materials, food products, packaging, and packaging, participated in the trade mission. The…

RIYADH: Saudi Arabia continues to raise its stakes in global companies with the Public Investment Fund recording $38.93 billion in US equity holdings in the second quarter of 2023, up from $35.52 billion in the first quarter. The holdings were driven by PIF’s expanded investment in prominent US firms, including Lucid Group, Air Products, and Alibaba, as confirmed by a filing with the US Securities and Exchange Commission. The most notable contributor to this quarterly surge is a $1.8 billion investment facilitated through PIF’s Ayar Third Investment Co. In June, this initiative led to the acquisition of 265.7 million shares in the electric vehicle manufacturer Lucid Group. The…

RIYADH: Saudi Arabia’s inflation rate fell to 2.3 percent in July compared to 2.7 percent in June, driven by relatively stable prices across all sectors, official data showed. A report released by the General Authority for Statistics attributed the fall to the decrease in prices of furnishings, household equipment and maintenance, which went down by 0.3 percent in July. Clothing and footwear prices slipped by 0.8 percent in July compared to June, while the cost of personal goods and services dipped by 0.6 percent during the same period. In contrast, in July, housing, water, electricity, gas and other fuel prices increased by 0.3…

The 3.5% increase comes a day after the ruble tumbled to its weakest level since March 2022 The Bank of Russia raised interest rates by 350 basis points to 12% at an emergency meeting on Tuesday in a bid to halt the rapid depreciation of the ruble against world currencies. “Inflationary pressure is building up… The decision is aimed at limiting price stability risks,” the regulator said in a statement. The central bank added that demand in the economy has exceeded the country’s ability to expand output, increasing inflation and affecting “the ruble’s exchange rate dynamics through elevated demand for imports.” “Consequently,…