Author: Steven Sahiounie

RIYADH: Saudi Arabia’s gross fixed capital formation surged to SR317.5 billion ($84.7 billion) in the first quarter of 2024, marking a significant 7.9 percent increase compared to the same period last year, recent data has revealed. The Ministry of Investment’s report underscores that this expansion was driven by growth in both the government and non-government sectors. GFCF, which represents the net increase in physical assets within an economy, plays a crucial role in gross domestic product as it reflects the accumulation of capital supporting future production capabilities and economic growth. Of the total GFCF, the government sector contributed 7 percent,…

The nation is reverting to a developing country due to the chancellor’s “lack of leadership,” the chief executive of Deutsche Boerse has said

European Union officials are trying to negotiate the continued use of Ukraine’s natural gas transit infrastructure after its contract with Russia’s Gazprom expires at the end of the year, Bloomberg reported on Monday.

The Jordanian capital of Amman is set to host on Tuesday an emergency international conference on the Gaza crisis, under the theme “Call for Action: Urgent Humanitarian Response for Gaza,” co-organized by Egypt and the United Nations. The high-level gathering, which will commence at 10:00am Cairo Time, will feature heads of state, senior government representatives, and key organizations addressing the humanitarian crisis in the Gaza Strip. Main objective The conference seeks to explore ways to strengthen the international community’s response to the humanitarian crisis in Gaza and outline effective measures to alleviate the suffering endured by the residents of the…

Linda Thomas-Greenfield, the US ambassador to the UN, pressed the United States line that only Hamas is left to accept US President Joe Biden’s ceasefire deal. “For months the United States has worked around the clock alongside Egypt and Qatar to broker a ceasefire deal between Israel and Hamas,” US ambassador said at UN headquarters in New York. “Such a deal has proven elusive. Why? Because Hamas has refused to accept any agreement. But right now, there is another opportunity,” Thomas-Greenfield added, saying the deal “is nearly identical to Hamas’s own proposals”. “This deal would bring hostages home, ensure Israel’s…

Amar Bendjama says his country voted in favour of the draft resolution because “it can represent a step towards an immediate and lasting ceasefire”. “I would like to extend our gratitude to the US delegation, especially Ambassador Linda Thomas-Greenfield, for their diligent efforts and for addressing some of our concerns in the final text,” he said in his remarks shortly after the vote. “Algeria engaged during the negotiation process in good faith, working closely with Palestinian mediators to achieve a resolution that ensures an immediate ceasefire and hopefully will have a tangible impact on the ground. This text is not…

The Egyptian foreign minister engages in discussions with his Russian counterpart, concentrating on the ongoing Israeli aggression on Gaza and ways to establish a permanent ceasefire Egyptian Foreign Minister Sameh Shoukry discussed on Monday several issues with Russian Foreign Minister Sergey Lavrov, primarily focusing on the ongoing Israeli aggression on Gaza and ways to achieve a permanent ceasefire during a meeting ahead of the BRICS Ministerial Meeting in Nizhny, Novgorod. During the meeting, Shoukry emphasized efforts being made regarding Egyptian-Qatari mediation to reach a deal that would lead to a prisoner exchange, the delivery of aid to Palestinians in the Gaza Strip, and ultimately achieving…

In a meeting in Cairo on Monday, the Egyptian president called for removing all obstacles impeding the delivery of humanitarian aid into the Gaza Strip, according to a statement by the Egyptian presidency. He also urged making concrete progress towards implementing a two-state solution to the Israeli-Palestinian conflict. During the meeting, attended by the Head of the Egyptian General Intelligence Service ,Abbas Kamel, both sides agreed to intensify joint efforts to reach a ceasefire in the Gaza Strip and the exchange of captives and detainees. They also highlighted Egyptian efforts to ensure the delivery of humanitarian aid to the people…

An Israeli military court extended on Monday the detention of Rasha Hirzallah, a journalist working for the Palestinian News and Information Agency WAFA, for two weeks The Palestinian Prisoner’s Society (PPS) said that the Israeli court in Salem extended the detention of Hirzallah, from the city of Nablus, under the pretext of what the occupation calls “incitement.” Last Sunday, Israeli intelligence summoned Hirzallah for investigation at a detention center in the illegal Ariel colony. She went there with a lawyer, and upon their arrival, she was informed that she would be detained for 72 hours. PPS added that Harzallah is among about 80 journalists who…

The United Nations Security Council on Monday adopted a US-drafted resolution backing a proposal outlined by President Joe Biden for a ceasefire between Israel and Palestinian militants Hamas in the Gaza Strip.Russia abstained from the vote, while the remaining 14 council members voted in favor. The US had finalized its text on Sunday after six days of negotiations among the council.Biden laid out a three-phase ceasefire plan on May 31 that he described as an Israeli initiative. Some Security Council members questioned whether Israel had accepted the plan to end the fighting in Gaza.The resolution welcomes the new ceasefire proposal,…