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Egypt central bank holds rates steady after change of governor

The Central Bank of Egypt (CBE) kept its overnight interest rates steady on Thursday, hours after a new governor was named to replace Tarek Amer, who quit unexpectedly on Wednesday. President Abdel Fattah Al-Sisi appointed Hassan Abdalla as caretaker CBE governor on Thursday after Amer’s resignation, with Egypt mired in a currency crisis. Analysts said […]

US officials attended detained American’s UAE hearing

US embassy officials attended US citizen and rights lawyer Asim Ghafoor’s hearing in the United Arab Emirates on Tuesday, a State Department official said, adding that his next hearing was scheduled for Wednesday. UAE authorities have said Ghafoor, a US citizen and civil rights attorney based in Virginia, was arrested last month while transiting through […]

Person, Human, Sport

Mickelson and others sue PGA Tour in LIV fight

Hall of Fame golfer Phil Mickelson and 10 other players filed a lawsuit against the PGA Tour on Wednesday, alleging that it broke anti-trust law by refusing them to participate on the tour and the new rival LIV Golf circuit, backed by Saudi Arabia. The lawsuit was led by six-time major champion Mickelson and includes […]

US to resupply Saudi and UAE missile defence systems

The US State Department approved the potential sale of Terminal High Altitude Area Defence (THAAD) missile interceptors to the United Arab Emirates (UAE) and Patriot missile interceptors to Saudi Arabia in separate deals worth as much as $5.3 billion, the Pentagon said on Tuesday. The potential deals, which would resupply key missile defence systems for […]

Lamp, Tower, Architecture

Kuwait reappoints oil, finance ministers in new cabinet

Kuwait reappointed Oil Minister Mohammed Al-Fares and Finance Minister Abdul Wahab al-Rasheed in a cabinet formed on Monday under a new prime minister, largely resembling the caretaker government that resigned in April. Last week the crown prince of the Gulf Arab OPEC producer had named Sheikh Ahmad Nawaf al-Sabah as prime minister to replace Sheikh […]

Turkey’s $800m robotic dinosaur amusement park lies desolate

Giant dinosaurs and robot models abandoned among decrepit fair rides create a dystopian atmosphere in a defunct amusement park in the Turkish capital, which its opposition party mayor is now highlighting as a testament to past government profligacy. Three years ago, President Tayyip Erdogan opened the massive theme park with great fanfare ahead of local […]

biden Mohammed bin Salman

Biden confronts MbS over Khashoggi before talking oil

US president Joe Biden said he told Saudi Arabia’s crown prince Mohammed bin Salman he held him responsible for the murder of Washington Post journalist Jamal Khashoggi, shortly after exchanging a fist bump with the kingdom’s de facto ruler. On a trip to reset relations with a country he had called a pariah after Khashoggi’s killing in […]

Biden arrives in Saudi

Biden starts sensitive Saudi visit, no immediate oil pledge expected

President Joe Biden arrived in Saudi Arabia on Friday to discuss energy supply, human rights, and security cooperation on a trip designed to reset the US relationship with a country he once pledged to make a “pariah” on the world stage. Energy and security interests prompted the president and his aides to decide not to […]

Airplane, Aircraft, Vehicle

Saudi Arabia to open airspace to all airlines, including from Israel

Saudi Arabia said it would open its airspace to all air carriers, paving the way for more overflights to and from Israel, in a decision welcomed by US President Joe Biden who is due to visit the kingdom on Friday. The Saudi General Authority of Civil Aviation (GACA) said the country’s airspace was now open […]

Tie, Accessories, Accessory

Biden defends Saudi trip and will not avoid human rights talk

US president Joe Biden said on Thursday he would not avoid talking about human rights when he visits Saudi Arabia on the second leg of his Middle East trip and stressed his position on the murdered journalist Jamal Khashoggi was “absolutely” clear. Biden heads to the kingdom on Friday where he will seek to boost […]

Person, Human, Suit

Biden heads to Saudi Arabia amid tension over oil

President Joe Biden will discuss energy supply, human rights, and security cooperation in Saudi Arabia on Friday on a trip designed to reset the US relationship with a country he once pledged to make a “pariah” on the world stage. Biden will hold meetings with Saudi Arabia’s King Salman bin Abdulaziz and Crown Prince Mohammed […]

Airplane, Aircraft, Vehicle

US approves measure to restrict Biden plan to sell F-16s to Turkey

The US House of Representatives on Thursday approved legislation that would create a new hurdle for President Joe Biden’s plan to sell F-16 fighter jets to Turkey. The House approved the measure, offered by Democratic Representatives Frank Pallone and Chris Pappas, as an amendment to the annual National Defense Authorization Act, by 244 to 179. […]

Handrail, Banister, Building

One in five IMF staff say they were ‘unduly influenced’

Nearly 20 percent of International Monetary Fund staff say their work has been “unduly influenced” by supervisors, according to an internal survey released on Thursday as part of a review of data integrity standards that generally found “robust mechanisms” for institutional governance. The review was launched last year by the IMF’s Executive Board following allegations […]

Person, Human, Shoe

Biden won’t push Saudi crown prince on oil

U.S. President Joe Biden on Thursday said he would see Saudi Arabia’s king and crown prince during a visit to the country next month but that the purpose of his trip was not to press them to increase oil output. Asked at a press conference in Spain if he would ask the Saudi leaders to […]

The plenum at the Knesset, Israel's parliament, in Jerusalem

Israel’s Knesset set to dissolve, triggering snap election

Israel is heading for its fifth election in less than four years, plunging it deeper into political uncertainty as it grapples with rising living costs and renewed international efforts to revive a nuclear deal with Iran. Prime Minister Naftali Bennett moved last week to dissolve parliament after infighting made his ruling coalition no longer tenable. […]

Tie, Accessories, Accessory

Lebanon’s Mikati named PM, urges action to secure IMF deal

Lebanon’s Najib Mikati was named prime minister on Thursday, urging fractious politicians to set aside differences to secure an IMF deal which he said was the only chance to save the country from financial collapse. Facing a politically difficult path to agreeing on a new cabinet, the billionaire tycoon who led three previous governments said Lebanon […]

Kuwait crown prince dissolves parliament, calls for early election

Kuwait’s crown prince on Wednesday dissolved parliament and called for an early election following a stand-off between the government and elected assembly that has hindered fiscal reform. Crown Prince Sheikh Meshal al-Ahmad al-Sabah said in a televised speech that decrees would be issued for the dissolution of parliament, the Gulf region’s oldest and most lively, […]

Face, Person, Human

Saudi crown prince to meet Erdogan to help repair relations

Saudi Crown Prince Mohammed bin Salman visits Turkey for the first time in years on Wednesday for talks with President Tayyip Erdogan aimed at fully normalising ties that were ruptured after the murder of Saudi journalist Jamal Khashoggi. In April, Erdogan went to Saudi Arabia after a months-long drive to mend relations between the regional […]

Emmanuel Macron learns the art of compromise the hard way

Jupiter has lost his thunder. Emmanuel Macron, whose first presidential mandate was marked by a top-down government style he compared to that of the almighty Roman god, will have to learn the art of consensus-building in the second. Deprived of an absolute majority by voters on Sunday, the French president can no longer count on […]

Tie, Accessories, Accessory

Tunisian party will not accept terms of $4bn IMF loan

One of Tunisia’s main political parties, the Constitutional Free Party, said on Sunday it would not recognise any agreement that Tunis makes with international lenders in exchange for unpopular reforms, the latest threat to a possible deal with the International Monetary Fund. The director of the Middle East at the IMF, Jihad Azour, will visit […]

Tie, Accessories, Accessory

Top US Treasury official to visit Turkey for talks

US Deputy Treasury Secretary Wally Adeyemo will visit Turkey next week and hold talks with top central bank and finance ministry officials, two sources said on Friday. One person, requesting anonymity because plans are still private, told Reuters that Adeyemo will meet both Finance Minister Nuredden Nebati and Central Bank Governor Sahap Kavcioglu. A central […]