Author: Steven Sahiounie

The Iranian foreign minister applauded Turkey’s decision to halting all import and export transactions with the Israeli regime in protest over the brutal war on Gaza. In a meeting with his Turkish counterpart on the sidelines of an OIC summit in the Gambia on Saturday, Hossein Amirabdollahian praised the Ankara government’s recent decision to halt economic and trade ties with the Zionist regime as a “significant measure”. Condemning the Israeli regime’s war crimes in Gaza, the top Iranian diplomat stressed the need for a stronger and more active role by the Islamic countries, specifically Iran and Turkey, in supporting Palestine.…

Muscat: The total loans and financing provided by commercial banks and Islamic windows in Oman increased by 2.7 percent to OMR30.61 billion by the end of February 2024 compared to OMR29.81 billion in the corresponding period of 2023.

The two officials agreed to pinpoint joint guidelines for the future in line with the department’s priorities

The Netherlands and Egypt share a robust and enduring partnership, with almost half a century of cooperation in the water management sector

The Federal Tax Authority (FTA) has intensified its supervisory efforts, in collaboration with various relevant entities, in a bid to protect consumer rights, combat tax evasion, and enhance tax compliance.

The report expected the country’s reserves to rise further by $2.60 billion in FY25/26 Egypt’s international reserves are expected to surge by $16.20 billion during the fiscal year (FY) 2024/2025, according to a report by JPMorgan, an American multinational finance company. The report expected the country’s reserves to rise further by $2.60 billion in FY25/26. JPMorgan also forecast the Egyptian economy to grow by 4.30% in FY25/26, up from 2.8% in FY23/24. Further adjustments to fuel prices, aimed at reducing the subsidy bill, could pose upside risks to Egypt’s inflation outlook, given that fuel comprises about 2% of the inflation…

Kuwait’s economic growth (real GDP) projection for 2024 was revised by the World Bank to 2.8% y/y, higher than the 2.6% y/y forecasted earlier in January 2024 owing to expectations of phasing out of OPEC+ production cuts, according to Kuwait Financial Centre (Markaz).

The revision reflects reduced external risks for Egypt. Fitch cited the recent investment deal with the United Arab Emirates (UAE)

The seasonally-adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index stood at 57.0 in April, the same as March, and well above the 50.0 mark denoting expansion in activity

Any agreement which would uphold the rights of the Palestinian people will get support from Iran, Iranian Foreign Minister Hossein Amirabdollahian said. In a meeting on the sidelines of a summit of the Organization of Islamic Cooperation (OIC) in the Gambia on Saturday, Amirabdollahian and his Saudi counterpart Faisal bin Farhan Al-Saud talked about regional issues, including the Gaza crisis. Amirabdollahian said Iran supports any agreement that guarantees the restoration of the Palestinian people’s rights, stating, “We believe that the Palestinians themselves should decide the fate of Palestine.” Joint efforts should be made to stop the war in Gaza which serves…