RIYADH: Egypt’s foreign debt increased by $3.5 billion in the fourth quarter of 2023, reaching a total of $168 billion, as reported by the nation’s planning ministry. This marks a climb from the $164.5 billion recorded at the end of September, representing 42.4 percent of the nation’s gross domestic product. Notably, 81 percent of … Read more
Pakistan pushes to forge strategic, economic partnership as Saudi FM visits Islamabad ISLAMABAD: Pakistani top leaders, including the prime minister, president and foreign minister, said on Tuesday the ongoing visit of Saudi Foreign Minister Prince Faisal bin Farhan to Islamabad would help transform a longstanding friendship between the two nations into a strategic and commercial … Read more
RIYADH: Egypt’s new economic path, focused on structural reforms empowering the private sector to lead growth and attracting investment, has begun to yield positive results, said the country’s finance minister. Mohamed Maait highlighted that despite the harsh impacts of global and regional economic crises, Egypt has seen financial indicators surpass budget estimates and targets over the … Read more
RIYADH: A drop in the price of cereals, bread, and vegetables saw Egypt’s urban consumer price inflation rate slow to 33.1 percent in March from 36 percent in February, Data released from the country’s Central Agency for Public Mobilization and Statistics, showed that month-on-month prices rose by 10 percent in the third month of 2024, down from … Read more
GENEVA: The UN and other international aid organizations on Sunday decried the devastating toll of six months of war in Gaza, warning that the Palestinian territory had become “beyond catastrophic.”“Six months is an awful milestone,” the International Federation of Red Cross and Red Crescent Societies (IFRC) said, warning that “humanity has been all but abandoned” … Read more
CAIRO: Egypt received approval on Friday from the International Monetary Fund’s executive board for an expanded, $8 billion financial support program that enables the immediate release of $820 million, the IMF said in a statement.
BEIRUT: Caretaker Prime Minister Najib Mikati has reaffirmed Lebanon’s commitment to fully implementing all international resolutions, especially UN Resolution 1701, approved in 2006 to resolve the war between Israel and Hezbollah that same year. He also emphasized the need for Israel to implement these resolutions fully and to cease its attacks on Lebanon’s sovereignty. Mikati … Read more
GCC telecommunication firms reinventing themselves as ‘techcos’: S&P Global RIYADH: Telecommunication companies in the Gulf Cooperation Council region are redefining themselves as technology firms to diversify their revenue streams, S&P Global said. In its latest report, the credit rating agency noted that moderate growth prospects for core telecom operations are one of the key drivers … Read more
How the discovery of 7,000-year-old stone tools cements Saudi Arabia’s place on the world heritage map LONDON: To the untrained eye, the handful of broken stones found half-buried in an ancient hearth, situated on the banks of a long-vanished lake in Saudi Arabia’s Nefud desert, appear to be little more than that — remnants of … Read more
CAIRO: Egypt’s president has declared his country’s “full support” to Palestine in a phone call with Palestinian Authority leader Mahmoud Abbas. President Abdel Fattah El-Sisi in the call on Wednesday highlighted Egypt’s “intensive efforts” to broker a ceasefire in Gaza, and Cairo’s backing for the Palestinian right to an independent state. Abbas expressed his gratitude … Read more