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Food, Invertebrate, Animal

Turkey to receive $500m from World Bank for COVID-19 vaccines

The World Bank said on Thursday that its board had approved $500 million in additional financing to support Turkey in its efforts to fight against COVID-19. The funds, which will have a maturity of 10.5 years with a five-year grace period, will be used to ensure access to safe and effective COVID-19 vaccines in Turkey, […]

Person, Human, Flag

Oil top of the agenda on White House visit to Saudi this week

Two senior US officials visited Saudi Arabia this week for talks that included global energy supplies, Iran and other regional issues, the White House said on Thursday. Meeting senior Saudi officials in Riyadh were Brett McGurk, Biden’s top White House adviser on the Middle East, and Amos Hochstein, the State Department’s energy envoy. “I will […]

Tie, Accessories, Accessory

US lawmakers voice doubts about Biden reaching a deal with Iran

The United States said on Wednesday it was ready to tighten sanctions and act with Israel and others to counter the Iranian threat if shaky efforts to revive the 2015 Iran nuclear deal fail, but lawmakers voiced doubts about both options. “We do not have a deal … and prospects for reaching one are, at […]

British Prime Minister Boris Johnson welcomes the Emir of Qatar, Tamim bin Hamad Al Thani at Downing Street in London

Qatar pledges £10bn investment in key UK sectors

The UK and Qatar have signed a new Strategic Investment Partnership which will see Qatar invest up to £10 billion over the next five years in key sectors of the UK economy including fintech, zero emissions vehicles, life sciences and cyber security.  Boris Johnson, the UK prime minister, welcomed the emir of Qatar, Sheikh Tamim […]

Riyadh hopes a nuclear pact can still be made with Iran

Saudi minister: ‘Not enough’ progress made in talks with Iran

Saudi Arabia’s foreign minister said yesterday that there had been some progress in talks with Iran but “not enough” and that the kingdom’s hands remain outstretched to Tehran. Sunni power Saudi Arabia and Shi’ite Iran, which are locked in proxy conflicts across the Middle East, have held five rounds of talks hosted by Baghdad. “We […]

Covid testing in Taiwan

Taiwan, now trying to ‘live with Covid’, has 80,000 cases a day

Taiwan was billed as a coronavirus success story when its economy boomed in the pandemic, but the island is now battling a record wave of infections as it eases restrictions to start “living with the virus”. For the whole of 2021, Taiwan reported under 15,000 locally transmitted cases. It is now registering around 80,000 cases […]

Emir Tamim Bin Hamad Bin Khalifa Al Thani

Some still can’t accept Qatar hosting World Cup, says emir

Qatar’s ruler, Sheikh Tamim Bin Hamad Al Thani, has told Davos the Middle East has suffered discrimination for decades, in a speech addressing critics of the emirate hosting the World Cup. Speaking at the World Economic Forum in Switzerland, the emir said there were still those who were unable to “accept the idea that an […]

Saudi Opec+ Russia

Saudi Arabia signals support for Russia in Opec+

Brent crude trading at about $112 a barrel Saudi blames prices on lack of global refining capacity and taxes New production deal for Opec+ quotas due in three months  Saudi Arabia has signalled it will stand by Russia as a member of the Opec+ group of oil producers despite tightening western sanctions on Moscow and […]

Prince Alwaleed bin Talal was listed by Forbes in 2017 as the seventh richest man in the world

Prince Alwaleed sells $1.5bn stake in Kingdom Holding to PIF

Saudi billionaire Prince Alwaleed bin Talal has signed an agreement with Saudi Arabia’s sovereign wealth fund to sell 16.87 percent of his investment firm Kingdom Holding Co to the fund. The Public Investment Fund (PIF) will buy 625 million shares at 9.09 riyals ($2.42) a share, Kingdom Holding said in a stock exchange filing, for […]

Maktoum bin Mohammed bin Rashid Al Maktoum will once again lead the UAE's delegation in Davos

Climate change top of the agenda at Davos

The Gulf’s two largest economies, Saudi Arabia and the UAE, are sending top-level delegations to the World Economic Forum’s (WEF) annual meeting in Davos-Klosters, Switzerland, which begins today.  The UAE’s delegation, led by Maktoum bin Mohammed bin Rashid Al Maktoum, deputy prime minister and minister of finance, will also include Abdulla Bin Touq Al Marri, […]

Ruler dissolves Dubai World financial disputes tribunal

Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said today he had issued a decree dissolving a tribunal hearing disputes related to Dubai World,the state conglomerate that was at the centre of Dubai’s debt crisis more than a decade ago. Dubai World, which restructured $23.5 billion in debt after the global financial crisis, said in […]

Face, Person, Human

Biden in talks to meet Saudi Crown Prince for first time

US President Joe Biden and Saudi Arabian Crown Prince Mohammed bin Salman could meet for the first time as soon as next month, CNN reported on Thursday, citing multiple sources. Biden administration officials are in talks with the Saudis about arranging a potential in-person meeting while Biden is overseas next month, the report added. The […]

Tie, Accessories, Accessory

Turkey’s planned inflation-linked bonds could sap deposits

Some banks are concerned that Turkey’s deposit base could decline as investors, eager to protect savings from price rises, snap up the government’s expected inflation-protected bond issuance, officials and bankers say. Given that inflation has soared to 70 percent, the bonds could pull considerable savings from lira and hard currency deposits and even sap the […]

Tie, Accessories, Accessory

Qatar to invest $5bn in Spanish projects, Emir says

Qatar’s $300 billion sovereign wealth fund plans to invest $5 billion in Spanish projects, the Gulf state’s ruler said late on Tuesday at a dinner held in his honour in Madrid. Spain’s Prime Minister Pedro Sanchez said on Tuesday that Emir Sheikh Tamim bin Hamad Al-Thani told an audience at a dinner held in King […]

Hossein Amirabdollahian

‘No development’ in Tehran-Riyadh talks, says minister

Iran’s foreign ministry said yesterday there has been “no new development” since April in talks between Iran and Saudi Arabia, shortly after a lawmaker said top diplomats of the rival countries will meet soon. Earlier, an Iranian lawmaker told the semi-official Fars news agency that Iran’s Hossein Amirabdollahian will soon meet his Saudi counterpart Faisal […]

Foreign ship in Gulf waters detained for ‘smuggling fuel’

Iranian authorities seized a foreign ship attempting to smuggle fuel out of the country and detained its crew, state news agency IRNA said today. Iran, which has some of the world’s cheapest fuel prices due to heavy subsidies and the plunge in value of its national currency, has been fighting rampant fuel smuggling by land […]

Face, Person, Human

Saudi puts its energy into increasing oil output

Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day to over 13 million by the end of 2026 or start of 2027, the energy minister said on Monday. Prince Abdulaziz bin Salman told an energy conference in Bahrain that production could be maintained at that level should market […]

Shelter, Countryside, Rural

Saudi extends deposit for Yemen and pays $2bn instalment

Saudi Arabia has extended a deposit it gave the central bank of Yemen’s internationally recognised government in 2018, and agreed to pay the final instalment of the $2 billion support package it promised. The Saudi finance ministry said the 2018 deposit would be extended to support Yemen’s currency and economic situation. The Yemeni central bank […]