Author: Steven Sahiounie

Egypt’s external debt service surged to $23.8 billion in the first nine months of the fiscal year (FY) 2023/2024, compared to $17.8 billion in the same period a year earlier

Investments in Saudi Arabia’s maritime sector have exceeded SR25 billion ($6.66 billion), thanks to successful collaborations between the Saudi Ports Authority and private sector partners.

The Iranian parliament (Majlis) has ended the debate on nominees for the country’s new cabinet and approved all of President Masoud Pezeshkian’s 19 cabinet picks. In a session on Wednesday, following four days of intense deliberations and hearings, the lawmakers voted in favor of all 19 ministers proposed by the new president. Pezeshkian submitted the list of his proposed ministerial picks to the parliament for a vote of confidence on August 11, 12 days after his swearing-in ceremony. The lawmakers convened on Saturday to discuss the qualifications and programs of the ministerial nominees and the process continued till Wednesday before the voting took…

Dutch Prime Minister Dick Schoof called on Israeli Prime Minister Benjamin Netanyahu to implement a ceasefire in the Gaza Strip to prevent further escalation in West Asia. After their phone conversation, Schoof shared on X that it was a “constructive discussion” and highlighted that “Israel’s security is crucial to the Netherlands.” The Dutch premier stressed the “urgent need to prevent further escalation in the Middle East” and called for breaking the “cycle of violence and retaliation.” “It is essential that the parties reach a deal on an immediate ceasefire in Gaza, the release of the hostages, and the unhindered delivery of more humanitarian…

Thousands of displaced Palestinians east of Deir al-Balah city in the central Gaza Strip began a new displacement movement on Wednesday after the Israeli occupation army issued orders to evacuate new areas. The occupation army reduced the area of ​​the alleged “humanitarian area” east of Deir al-Balah, which is crowded with hundreds of thousands of displaced people, after orders to evacuate new areas ahead of military operations. Meanwhile, the occupation army published a map on X demanding “all residents and displaced people in Blocks 129 and 130 in the neighboring neighborhoods and Deir al-Balah to the south, from Salah al-Din Street…

Russia and China have worked out large-scale cooperation plans in different spheres for many years to come, President Vladimir Putin said at the meeting with China’s Prime Minister Li Qiang in the Kremlin. “Our countries have worked out large-scale joint plans, projects in economic and humanitarian spheres; [we] expect that for many years to come,” Putin said. The head of state added that relevant reference points had been determined during the talks with President of China Xi Jinping this year. Source: TASS

Minister of Foreign Affairs Badr Abdelatty and UN Secretary-General António Guterres stressed in a phone call on Wednesday the urgent need to secure an immediate ceasefire in the Gaza Strip, ensure delivery of humanitarian aid, and facilitate the exchange of prisoners and detainees. FM Abdelatty and Guterres emphasized that ending the war in Gaza would help de-escalate tensions throughout the entire region, according to a statement from the Egyptian foreign ministry. Abdelatty briefed Guterres on Cairo’s efforts to ease the escalating situation and prevent the conflict from causing further regional instability. Egypt’s top diplomat also highlighted the risks associated with…

Saudi Arabia is aiming to leverage US expertise to boost efficiency in its municipal and housing sectors after a government official met with American firms.

RIYADH: Saudi Arabia’s e-commerce sales via Mada cards saw an annual rise of 13 percent in June to reach SR15.14 billion ($4.04 billion).

Qatar is on track to restore government revenues to pre-2014 oil price shock levels and double its economy by 2031