Author: Steven Sahiounie

Pictures and videos of the explosions that were heard in Damascus, Syria, at dawn today, are being shared via social media platforms. Explosions were heard on Sunday dawn in the vicinity of the Syrian capital of Damascus, the Syrian official news agency, SANA, reported, noting that the validity and nature of these explosions was being verified. SANA offered no further details on the incident. However, social media platforms were flooded with images and videos of what was described as explosions in Damascus early on Sunday. Earlier, on August 7, Israeli aggression resulted in the martyrdom of four Syrian Arab Army soldiers and wounded four…

The country is at risk of severe shortages if winters are cold, an energy association has warned Germany faces gas shortages in the coming years unless it adds more fuel infrastructure, Bloomberg reported on Thursday, citing the INES group of gas storage operators. According to the group, the EU’s largest economy could suffer shortages during the heating season, when storage is traditionally tapped. While stockpiles are currently “developing positively” and are almost 90% full, a cold winter could still pose a threat to German energy security. “The danger of gas shortages during cold temperatures remains and will continue to accompany…

Indian export restrictions and dry weather in Thailand have disrupted the global food market Rice prices have reached their highest levels in almost 15 years amid mounting concerns over global supplies after top exporter India curbed shipments. Adverse weather conditions in Southeast Asia could further impact crop production. According to data by the Thai Rice Exporters Association, the price of Thai white 5% broken rice, an Asian benchmark, has jumped to $648 a ton, its highest level since October 2008. The spike comes after the world’s leading rice exporter, India, announced restrictions on shipments of non-basmati white rice in late…

It is a rare occasion indeed when the source of the most critical verdict on a particular government policy is the minister in charge of the very policy that is found to be falling far short of what is desired and what the government previously committed itself to.Andrew Mitchell, the British minister of state for development and Africa, whose responsibility is to maximize the benefits of the UK’s humanitarian aid — and who is known for not mincing his words — has published a report that reveals the devastating consequences of his own government’s deep cuts to its foreign aid…

CAIRO: The startup ecosystem in the Middle East and North Africa witnessed several early stage funding rounds this week, with Saudi ventures predominantly leading the activity. Saudi fintech startup Wadaie successfully completed its pre-seed funding round. While the exact amount remains undisclosed, the lead investor was RZM Investments, a notable investment firm based in Saudi Arabia. Bunat Ventures, along with several other Saudi angel investors, also participated in Wadaie’s funding round. Established last year by Abdullah Al-Andas, Rayan Al-Tuwayjiri, and Abdulrahman Al-Hawas, Wadaie is a financial technology platform with a vision to bolster Saudi Arabia’s savings sector. Designed to bridge the…

RIYADH: As the world emerges from the shadows of the COVID-19 pandemic, Saudi Arabia has started reaping the fruit of its efforts to wean its economy off of oil by increasing its focus on its travel and tourism sector. The Kingdom’s aviation sector is witnessing rapid growth which many analysts say is not just due to large investments in airlines but a result of the ongoing socio-economic transformation process that began with the launch of Vision 2030 in 2016. One of the several measures taken to boost the sector includes the launch of an e-visa service in 2019 ensuring easy access…

The external market background was under pressure again this Friday MOSCOW, August 11. /TASS/. The Russian stock market ended the trading session on Friday with mixed dynamics, according to the Moscow Exchange. The MOEX Russia Index edged up by 0.21% to 3,155.51 points. The RTS Index tumbled by 1.65% to 1,000.89 points. The dollar moved up by 1.97% and climbed to 99.43 rubles. The euro gained 1.22% to 108.78 rubles. The yuan had an uptick by 0.23% to 13.69 rubles. “Overall, our market remained with the growth vector during five trading days, relying on ruble weakness, relative stability of oil…

The construction and agricultural sectors maintained steady growth, just as last year, Polina Kryuchkova said MOSCOW, August 11. /TASS/. The Russian economy has managed to not merely compensate the decline in the second quarter of the last year but also to show growth against the level two years back, Deputy Minister of Economic Development Polina Kryuchkova said in a comment on GDP data for the second quarter of this year, released by the national statistical agency. “The Russian economy did not merely level up the drop in the second quarter of the last year but also showed incremental growth against…

The request for the Sokhranovka gas pumping station has been rejected MOSCOW, August 12. /TASS/. Gazprom supplies gas for Europe through Ukraine in the volume of 41.8 mln cubic meters per day via the Sudzha gas pumping station in Russia’s Kursk Region, a Gazprom representative told reporters. “Gazprom supplies Russian gas for transit through Ukrainian territory in the volume confirmed by the Ukrainian side via the Sudzha gas pumping station of 41.8 mln cubic meters as of August 12. The request for the Sokhranovka gas pumping station has been rejected,” he said. On the previous day, the pumping equaled 42.4…

Iran’s Central Bank has announces that the US has unfrozen $6 billion in Iranian funds as part of a deal that will eventually see the release of five Americans detained in Iran and an unknown number of Iranians detained in the US. The Governor of the Central Bank of Iran (CBI), Mohammad Reza Farzin, announced on Saturday that the United States has unfrozen $6 billion in Iranian assets as part of their prisoner swap agreement.”All Iranian foreign-currency assets in South Korea have been unblocked. Soon all of these euro-denominated assets will all be deposited with six Iranian banks in Qatar…