WASHINGTON: Economies in the Middle East and North Africa face a “shadow of uncertainty” from ongoing tensions in the region, a senior IMF official said.“We are in a context where the overall outlook is cast into shadows,” Jihad Azour, the International Monetary Fund’s director for the Middle East and Central Asia department, said in an … Read more
RIYADH: A new museum studies program in Saudi Arabia has opened for registration, offering micro-credential and long-term courses. It is the result of a partnership between ilmi, a center for science, technology, reading, engineering, arts and mathematics learning, and Princess Nourah bint Abdulrahman University. ilmi — meaning “my knowledge” in Arabic — is a science … Read more
Call to close UNRWA is attempt to strip Palestinians of refugee status — agency chief NEW YORK CITY: Disbanding the UN Relief and Works Agency for Palestine Refugees would have lasting repercussions for millions of Palestinians because it would result in them being stripped of their refugee status, the head of the agency told the … Read more
ANKARA: Turkiye will take steps to strengthen its medium-term economic program and the three main priorities are to increase public savings, prioritize investments and accelerate structural reforms, President Tayyip Erdogan said. Speaking on Tuesday evening after a cabinet meeting, Erdogan said his economic team had made preparations for such steps to strengthen the program, MTP, … Read more
TOKYO/SINGAPORE: Oil prices extended losses on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in US commercial stockpiles outweighed supply fears from heightened tensions in the Middle East, according to Reuters. Brent futures for June fell 40 cents, or 0.44 percent, to $89.62 a barrel by … 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
Saudi banks’ deposits reach $677bn in February, reflecting economic resilience RIYADH: Saudi banks’ total deposits reached SR2.54 trillion ($677 billion) in February, marking a 10.26 percent increase from the same month last year, the official data showed. Analysis conducted on the data released by the Saudi Central Bank confirmed that growth was primarily fueled by … Read more
LONDON: On Nov. 16, 2022, armed police descended in force on a West London business park, home to leading international brands such as Starbucks and Danone and a sprinkling of media companies, among them CBS, Paramount and the Discovery channel. To the shock of the thousands of people who work in the dozen modern buildings, … Read more
KARACHI: Pakistan is putting on the block a stake ranging from 51 percent to 100 percent of loss-making national carrier Pakistan International Airlines, the privatization panel said on Tuesday, as part of reforms urged by the IMF. The disposal of the flag carrier is a step past elected governments have steered away from as likely … 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.