Author: Steven Sahiounie

The price of gold has surged to historic highs this year, surpassing $2,500 per ounce and catching the attention of global markets.

DUBAI: The UAE on Thursday announced the completion of the Arab world’s first nuclear power plant, calling it a “significant step.” Abu Dhabi’s Barakah Nuclear Energy Plant will produce 40 terawatt-hours of electricity annually after its fourth and final reactor has entered commercial operation, the state-owned Emirates Nuclear Energy Corporation (ENEC) said in a statement. It will generate 25 percent of the electricity needs of the hot, desert Gulf state, where air-conditioning is ubiquitous — nearly the equivalent of New Zealand’s annual consumption, ENEC said. The station will power companies including the Abu Dhabi National Oil Company, one of the…

Saudi Arabia’s National Housing Co. has been named the GCC’s top real estate developer for 2024, following SR13 billion ($3.47 billion) in sales during the first half of the year.

ight members of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Thursday to extend their voluntary supply cuts until the end of November, postponing a planned output increase amid falling crude prices.

Saudi Arabia’s Housing Program is effectively contributing to social and economic stability for citizens amid rapid growth

Egypt’s central bank as expected left its overnight interest rates on hold on Thursday, saying inflation pressures had subsided but that economic growth had softened.

Oil prices ticked up in Asian trading on Friday, with investors exercising caution ahead of key US employment data as they weighed a big withdrawal from the country’s crude inventories and a delay to production hikes by OPEC+ producers.

Iranian and Bahraini foreign ministers have discussed bilateral ties and expressed hope to promote joint political dialogues between Tehran and Manama. In a telephone conversation on Thursday night, Bahrain’s Foreign Minister Abdullatif bin Rashid al-Zayani congratulated Abbas Araghchi for becoming the new foreign minister of the Islamic Republic of Iran. Regarding the importance of bilateral relations with Iran, the Bahraini foreign minister expressed hope that joint political dialogues between the two nations will be promoted in the new era. Araghchi thanked his Bahraini counterpart for his call and his participation in the inauguration ceremony of Iranian President Masoud Pezeshkian. Araghchi described…

Egyptian President Abdel Fattah al-Sisi’s official visit to Türkiye received wide coverage in the media of the Arab world. 
 Showing great interest in the visit, the press and media outlets from the Arab world covered the issues discussed by al-Sisi and Turkish President Recep Tayyip Erdogan, and highlighted the two leaders’ joint emphasis on the cessation of Israel’s attacks on the Gaza Strip.
 Al-Gomhuria and Al-Ahram, Egypt’s state-owned newspapers, were among the media outlets that highlighted the visit. The Egyptian daily al-Yawm al-Sabi described the visit as “historic.”
 The official news agencies of Saudi Arabia and the United Arab…

Russian Foreign Minister Sergey Lavrov said he saw a serious approach behind the Turkish government’s aspirations to join BRICS group. “I assume that when a government says that they are making a specific step, it is backed by serious intentions,” the minister said in an interview with RBC when asked to comment on Turkey’s plans to become a member of the group. At BRICS, there are no rules forbidding members of certain organizations from having ties with the grouping, Russia’s top diplomat added. He referred to Turkey’s NATO membership and EU candidate status that has been on the books for…