Author: Steven Sahiounie

Switzerland is an important trading partner, with over 100 Swiss companies currently operating in Saudi Arabia: Saudi Minister of Finance

The Central Bank of the UAE has revised the inflation forecast for the country this year to 2.3%, down from its previous projection of 2.5%.

The European Union could trigger a “trade war” if it continues to escalate tensions, China’s commerce ministry has warned

Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi, on Friday, spoke with Ararat Mirzoyan, the Foreign Minister of Armenia, over the phone and informed him that Jordan is very grateful for his nation’s recognition of the Palestinian state. By recognizing the Palestinian state, Safadi emphasized that Armenia was upholding international law, justice, and peace. A just and comprehensive peace cannot be reached without the establishment of a free and independent state with East Jerusalem as its capital, along the lines of June 4, 1967, in accordance with the two-state solution. The Israeli aggression against Gaza, its…

Indian Ambassador to Ankara Virander Paul has passed away, Indian Foreign Minister Subrahmanyam Jaishankar said on Friday. “A great loss to the Indian Foreign Service. Have worked closely with him in his many postings,” he said on X. “Always admired his commitment and service and value his many contributions,” he added. Paul, who was undergoing cancer treatment, passed away in his country. Source: Anadolu Agency

The reaction of Western countries to Russian President Vladimir Putin’s trip to North Korea and Vietnam is puzzling, as Moscow’s partnership with other states has never been directed against third countries, Russian presidential spokesman Dmitry Peskov said. “Cooperation with our partners is in no way directed against third countries,” he said, adding that Moscow’s interaction with partners “is aimed exclusively at increasing the well-being of the people of the countries participating in the interaction.” He added that Moscow clearly realizes that Washington will continue to pressure all its partners, including Vietnam. “We have no doubts that the United States will…

The UN chief on Friday expressed “profound” concern over the growing tensions between Israel and the Lebanese Hezbollah group, saying the world “cannot afford Lebanon to become another Gaza.” “I felt compelled today to voice my profound concerns about escalation between Israel and Hezbollah along the Blue Line,” Antonio Guterres told reporters in New York, hinting at “escalation in bellicose rhetoric from both sides as if an all-out war was imminent.” Warning against a wider regional conflict in the Middle East, Guterres said: “One rash move – one miscalculation — could trigger a catastrophe that goes far beyond the border,…

Syrian Airlines Company stated that its first fight carrying onboard the Syrian hajjis coming from Madinah Airport to Damascus International Airport arrives tomorrow, Saturday. The company noted that the flight has 160 Hajjis onboard, adding that the air  journeys are operating according to the permissions given till upcoming July 6th. Source: SANA

RIYADH: Saudi Arabia’s state-backed initiatives, including NEOM and Vision 2030, are driving growth in the construction sector, attracting substantial domestic and international investments, an analysis showed. In its latest report, global consultancy firm Turner & Townsend highlighted that the construction activities are also driven by the Kingdom’s preparations for EXPO 2030 and the 2034 FIFA World Cup. This comes as Saudi Arabia emerged as the leader in global construction activity for the first quarter, with the Kingdom having $1.5 trillion of projects in the pipeline, according to a report released earlier this month by real estate services firm JLL. The…

RIYADH: Business giant Al Habtoor Group has filed an arbitration case against Marriott International, the Dubai-based conglomerate confirmed to Arab News.