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 »
Tag Archives: IMF
IMF advises KSA to ease austerity measures
:: Saudi Finance Minister Mohammed Al-Jadaan revealed that the Kingdom may incrementally decrease its energy subsidies, and will take longer to achieve a balanced budget, since it is seeking to mitigate the impact of its drive to achieve public finance
IMF’s Lagarde: World must ‘seize the opportunity’ of global recovery
:: International Monetary Fund chief Christine Lagarde said Thursday a worldwide economic recovery is taking hold, opening a window for countries to enact reforms aimed at attaining broader, lasting prosperity. “The long-awaited global recovery is taking root,” she said in
Egypt’s non-oil business activity hits three-month low
:: Egypt’s non-oil private sector business activity shrank at its sharpest pace in three months in September amid contractions in new orders and outputs, but companies were optimistic that growth will pick up in the coming year, a survey showed
Egypt’s cabinet passes regulations for new investment law
:: Egypt’s cabinet passed regulations on Thursday for a new investment law aimed at attracting foreign investors to help the economy recover after a 2011 uprising. Investment Minister Sahar Nasr said the law will now be passed to Egypt’s administrative
IMF: Countries must avoid protectionism ‘at all costs’
:: The International Monetary Fund warned world leaders Friday to avoid resorting to protectionist measures “at all costs” due to the damage it would cause to their own and the global economy. At a time when United States President Donald
Saudi finance minister welcomes IMF report
:: Saudi ministry of finance welcomed IMF report on the situation of the national economy. Commenting on the results of the consultations with the International Monetary Fund (IMF), the Minister of Finance Mohammed Al-Jadaan said: “We welcome the Fund’s commendation
IMF: Saudi Arabia has made significant progress with Vision 2030
:: Citing Saudi Arabia’s bold reform program under Vision 2030 announced in 2016, the IMF has concluded that non-oil growth in the Kingdom is expected to pick up this year. The IMF in its latest assessment of the Saudi Arabian
IMF warns G20 to address risks to economic recovery
:: The global economy is strengthening but the International Monetary Fund warned on Wednesday that leaders of the Group of 20 must take action to deal with risks that remain a threat to growth. Ahead of the G20 leaders summit
An IMF bridge to somewhere for Greece?
By : Mohamed A. El-Erian :: The International Monetary Fund (IMF) has resurrected an old technique — commonly used in the 1980s during the Latin American debt crisis — that would allow Greece to avoid a payment default next month
US, global financial leaders skirt trade frictions, tout collaboration
Global economic leaders on Friday continued downplaying possible friction with the Trump administration over currencies, trade and other potentially contentious issues, even while acknowledging that much about the US president’s plans remains unclear. On a day when Donald Trump himself
Egypt’s economy shows positive signs but big risks remain
By : Dr. Naser al-Tamimi :: Egypt has many advantages that theoretically qualify it to become one of the most important economic success stories in the Middle East. These include a strategic geographic, a significant regional influence despite its decline
IMF’s Lagarde ‘optimistic’ about US economy
International Monetary Fund chief Christine Lagarde on Sunday voiced optimism for US economic growth under President Donald Trump but warned it could herald trouble for the rest of the world. “From the little we know, and I will insist on
Iraq gets new WB loan to cope with low oil price, ISIS
The World Bank has approved a new loan of $1.485 billion to help Iraq lessen the impact of low oil prices on its economy and shoulder the cost of the war on ISIS, the international lender said in a statement
Merkel in Africa on trip aimed at stemming migrant flows
German Chancellor Angela Merkel on Sunday warned against Africa suffering from a “brain drain” as she arrived on a three-day tour of the continent focused on security and stemming the migrant influx to Europe. Merkel also underscored the need to
IMF eyes ‘bigger, bolder’ effort on refugee crisis
International Monetary Fund Managing Director Christine Lagarde on Wednesday said efforts to deal with refugees from war-torn countries in the Middle East and North Africa required a “bigger, bolder and broader approach.” Lagarde, participating in a panel discussion on refugees
IMF calls for ‘wise’ taxes to foster greener fuels
International Monetary Fund chief Christine Lagarde has called for tax reforms to be included in a global climate deal to raise incentives for consumers to reduce their energy consumption and to boost demand for cleaner fuels. In an opinion piece
IMF: We can bank on Islamic finance for stability
The fast growing, Shariah-compliant Islamic finance industry has the potential to promote financial stability because of its risk-sharing and asset-backed features, International Monetary Fund Managing Director Christine Lagarde has said. “Islamic finance has, in principle, the potential to promote financial
Oil price drop wakeup call for producers, says IMF chief
The global slump in oil prices should be considered as a “splendid wakeup call” by energy-producing countries for restructuring their economies, the head of the International Monetary Fund said Tuesday. The price of oil has dropped by more than half
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