Author: Steven Sahiounie

Supplies of most of the world’s major food commodities are expected to be adequate in 2024/25, although extreme weather, rising geopolitical tensions, sudden policy changes and other factors could all potentially tip the delicate global demand-supply balances

Minneapolis Federal Reserve President Neel Kashkari on Sunday said it’s a “reasonable prediction” that the U.S. central bank will cut interest rates once this year, waiting until December to do it.

RIYADH: In Saudi Arabia’s vast agricultural terrain, a transformative shift is occurring, driven by the adoption of advanced technologies.

RIYADH: A five-star hotel is part of a new cruise ship set for Saudi Arabia’s Hail region, local real estate developer Al-Othaim Investment has announced. The new project, also referred to as Al-Othaim Cruise Hail, is built on a total area of ​​77,000 sq. m. and includes a shopping mall, 276 residential units, 16 luxurious palaces, and multiple entertainment spaces. Moreover, the planned hotel on the ship contains 120 rooms and 156 apartments, as well as office spaces on six floors covering an area of over 9,000 sq. m. The company said in a post on X that this move falls in line with its expansion strategy, which…

RIYADH: Africa’s rising energy demand requires substantial investments in clean power projects, which is crucial for the continent’s sustainable economic growth, an analysis revealed. In its latest report, the International Energy Agency said that Africa’s aspiration for greater economic and social development depends on access to an affordable, reliable, modern and sustainable supply of power. According to IEA, meeting the growing energy demand from African countries requires requires more than doubling the current annual investments to over $240 billion in the sector by 2030, of which three-quarters of the funds needs to be focused on clean technology. The organization also called for “swift action to tackle…

RIYADH: The digital revolution within Saudi Arabia’s banking sphere has significantly enhanced the nation’s economic panorama, facilitating effortless financial transactions for customers, experts have told Arab News.

RIYADH: Saudi Arabia’s crude production increased by 13,000 barrels per day in April to reach 8.99 million, according to an analysis from the Joint Organizations Data Initiative. The data indicated that exports over the same month saw a decline despite this growth, dipping by 445,000 bpd to 6 million compared to March. The Kingdom’s direct burn of crude oil, which involves using oil without substantial refining processes, increased by 93,000 bpd in April compared to the previous month – an 11 percent year-on-year growth. The decline in the Kingdom’s crude exports and a marginal rise in production can be attributed to the voluntary cuts adopted by members of the…

Israeli Prime Minister Benjamin Netanyahu announced the disbanding of the war cabinet on Sunday, according to reports released on Monday, in a move widely anticipated following the departure of Benny Gantz from the government. “The cabinet was in the coalition agreement with [National Unity MK Benny] Gantz at his request. As soon as Gantz left – there is no need for a cabinet anymore,” Netanyahu was reported to have said during the Sunday war cabinet meeting. According to Netanyahu, there will not be a new cabinet formed consisting of the coalition party members, as previously suggested by far-right ministers Bezalel…

The Prime Minister, Minister of Foreign Affairs and Emigrants Mohammad Mustafa Monday discussed with Portuguese Foreign Minister Paulo Rangel the latest developments in light of the ongoing war of extermination against Palestinian people in the Gaza Strip and the West Bank. During a phone call, Mustafa stressed the importance of Portugal’s recognition of the State of Palestine, and following in the footsteps of Spain, Norway, Ireland and Slovenia, which recently recognized it, to preserve the two-state solution, appreciating the vote to recognize Palestine as a full member in the United Nations General Assembly, its provision of relief aid to Palestinian people in…

Turkish President Recep Tayyip Erdogan on Monday called for international action to put an end to Israel’s “bloodthirstiness” and systematic oppression of Palestinians. Speaking to members of Türkiye’s Justice and Development (AK) Party via videoconference on the occasion of the Islamic festival of Eid al-Adha, Erdogan said the Palestinian people, who have been subjected to occupation and systematic massacre for 76 years, are once again spending Eid in sadness, longing for peace. “The pain of 38,000 of our brothers who were martyred treacherously by the genocidal Israeli administration tears our hearts as a nation and as an Ummah. We are…