Saudi King and Crown Prince Condole Kuwait
In a heartfelt gesture of solidarity, Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman expressed their deepest condolences to the Emir of Kuwait on Monday following the passing of Sheikh More »
Putin and Abbas Discuss Gaza Crisis
Russian President Vladimir Putin is set to meet with Palestinian President Mahmoud Abbas on Tuesday during Abbas’ visit to Russia. Arriving on Monday, Abbas aims to discuss the ongoing Gaza conflict with More »
Saudi Arabia Voices Strong Support for Gaza Peace Initiatives
Saudi Arabia has firmly aligned itself with the recent joint statement made by President Joe Biden of the United States, President Abdel Fattah El-Sisi of Egypt, and Sheikh Tamim bin Hamad Al-Thani, More »
Saudi Crown Prince, US Secretary of Defense discuss troop deployment
:: Saudi Arabia’s Crown Prince Mohammed bin Salman received a phone call on Wednesday from the US Secretary of Defense during which they discussed ongoing arrangements to send US troops of a More »
Saudi Energy Minister confirms restoration of Kingdom’s gas production capacity
:: Saudi Arabia’s Minister of Energy confirmed on Wednesday the restoration of production capacity, affirming the Kingdom’s position as a reliable energy supplier in the global market. The energy minister, Prince Abdulaziz More »
Category Archives: Banking
Trump trade strategy ‘doomed to failure’: US trade expert
President Donald Trump’s rejection of multilateral trade agreements in the Asia-Pacific in favor of one-on-one deals is “doomed to failure,” a noted US trade expert said Thursday. The Trump complaint that the US gave up too much in the Trans-Pacific
President of World Bank Group praises Saudi Arabia’s Vision 2030
King Salman bin Abdulaziz Al Saud received President of the World Bank Group, Dr. Jim Kim and his accompanying delegation at Al-Yamamah Palace in Riyadh on Monday. During the meeting, they discussed aspects of cooperation between the Kingdom and the
Saudi Citizens Account: No retroactive disbursement for late registration
Engineer Majed al-Osaimi, the general supervisor of Saudi Arabia’s Citizen Account said on Wednesday that those who are late to register and enlist in the program will not receive retroactive disbursement. During an interview with the Saudi Alekhbariya television channel,
Erdogan reiterates discontent with Turkish interest rate policy
Turkish President Tayyip Erdogan reiterated his discontent with the country’s interest rate policy on Tuesday, saying it was a means of exploitation and calling on the country’s banks to “be reasonable.” “I am not happy with our country’s interest rate
India to remove cash withdrawal limits
Limits on cash withdrawals will be removed entirely from March 13, India’s central bank said Wednesday, as it left interest rates on hold for the second time since a ban on high-value rupee notes. The Reserve Bank of India capped
Trump moves to rollback financial regulation
President Donald Trump will on Friday move to roll back key reforms enacted in the wake of the 2008 financial crisis, in what the White House sees as an effort to cut damaging red tape. Officials say Trump will sign
India looks to ease pain from cash crunch in budget
India’s government is expected to ramp up spending in its latest budget this week, seeking to ease the pain from a ban on high-value bank notes that slammed the brakes on the world’s fastest-growing major economy. Ahead of a series
Saudi banks ‘among least susceptible to fraud worldwide’
The financial sector in the Kingdom is one of the least susceptible bodies to financial fraud worldwide, according to Talat Zaki Hafiz, secretary-general of the media and banking awareness committee of the Saudi banks, the apex banking body in the
Osborne warns of deeper spending cuts in Britain
British Finance Minister George Osborne warned that he might cut public spending more deeply than he previously planned after the country’s economic growth fell short of the pace foreseen in his plans to wipe out the country’s budget deficit. Osborne,
Lagarde set for second term as IMF chief
Christine Lagarde, the first woman to head the International Monetary Fund, became assured of a second term as managing director to steer it through a global economic slowdown. The executive board of the global crisis lender announced that there were
RBI chief: Indian banks need ‘deep surgery’
The head of India’s central bank has said the country’s lenders may need to perform “deep surgery” to sort out bad loans and clean up their balance sheets. Raghuram Rajan, Reserve Bank of India governor, who famously predicted the 2008
Saudi industrial city says to speed up, broaden investment
The developer of one of Saudi Arabia’s biggest industrial city projects says it will speed construction of infrastructure and broaden the range of industries it accommodates as part of efforts to diversify the economy beyond oil. With state finances under
Gorbachev sounds alarm as Russian ruble hits record low
Mikhail Gorbachev, the last leader of the Soviet Union, warned that Russia needs to increase efforts to find a solution to its ailing economy. Gorbachev’s comments to the state news agency RIA Novosti on Tuesday came a day after the
ECB policymakers divided over China risks
Policymakers at the European Central Bank disagreed at their last meeting over how big a threat turmoil in China and other emerging markets pose to Europe’s modest economic recovery. The result of the Dec. 3 debate, for which a written
Bank of England unruffled by oil slump and share price slide
The Bank of England said it expects only a slight drag on inflation from the renewed plunge in global oil prices as policymakers voted overwhelmingly again on Thursday to keep interest rates at a record low. The Bank also said
Global economy to accelerate modestly to 2.9%: World Bank
Weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 percent pace, from 2.4 percent growth in 2015, as advanced economies gain speed, according to the
Turkish lira slips to 3 per dollar, weakest since Oct
The Turkish lira weakened to a three-month low against the dollar on Wednesday as fears about China’s stalling economy and North Korea’s nuclear test shook investors already concerned about the independence of Turkey’s monetary policy. The lira broke through the
Strength of dollar ‘biggest uncertainty for 2016’
China’s leaders are striving to cut leverage while restructuring growth away from an over reliance on investment and toward greater consumption and services. Sounds simple. But there’s a risk the transition triggers a steeper slide in growth in 2016. Things
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