NEW DELHI: Indian Prime Minister Narendra Modi and his government are increasingly wielding strong-arm tactics to subdue political opponents and critics of the ruling Hindu-nationalist party. A decade into power, and on the cusp of securing five more years, the Modi government is reversing India’s decadeslong commitment to multiparty democracy and secularism. The ruling Bharatiya … 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
RIYADH: Saudi Arabia is emerging as a proactive leader, pioneering green initiatives to mitigate economic challenges posed by the transformation toward sustainability, according to the International Monetary Fund. A recent report by the IMF highlighted the intricate dynamics at play and underscored the Gulf Cooperation Council and Saudi Arabia’s strategic positioning in this evolving scenario. … Read more
Egypt expert warns Gaza war’s impact on Egyptian-Israeli ties ‘impossible to ignore’ LONDON: Israel’s war in Gaza could have a lasting effect on its ties with Egypt, Middle East Institute expert Mirette Mabrouk has cautioned. The warning came during a panel discussion to mark the 45th anniversary of the peace deal signed between the two … 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
RIYADH: Saudi Arabia’s Public Investment Fund has soared in an annual global ranking of sovereign wealth organizations, thanks to a 55 percent increase in assets under management. The value of PIF’s portfolio now stands at $925 billion, according to US-based Sovereign Wealth Fund Institute, up from $595.6 billion in 2022. This means the organization has surged … Read more
Saudi Arabia, Bangladesh in talks to engage workers in Kingdom’s green initiatives DHAKA: Saudi Arabia is open to engaging Bangladeshi workers in its green initiatives, Riyadh’s envoy has said following talks with Dhaka’s new top diplomat. Nearly 3 million Bangladeshis live and work in Saudi Arabia. They are the largest expat group in the Kingdom … Read more
Allies fear the US is becoming less reliable, with growing concern over a possible Trump return LONDON: As chances rise of a Joe Biden-Donald Trump rematch in the US presidential election, America’s allies are bracing for a bumpy ride.Many worry that a second term for Trump would be an earthquake, but tremors already abound — … Read more
WASHINGTON: Dozens of President Joe Biden’s fellow Democrats signed a letter on Friday urging his administration to reaffirm that the US strongly opposes “the forced and permanent displacement” of Palestinians from Gaza. The letter to Secretary of State Antony Blinken, led by US Representatives Ayanna Pressley and Jamie Raskin, was signed by 60 Democratic House … Read more
RIYADH: Gulf dispute resolution services are set to improve after a meeting was held to enhance collaboration in research and development for innovative digital tools in commercial arbitration. According to the Saudi Press Agency, the secretary-general of the Commercial Arbitration Center of the Gulf Cooperation Council, Kamal bin Abdullah Al-Hamad, met the Kingdom’s governor … Read more