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: WORLD BANK
World Bank official: Saudi fight against corruption ‘important for development’
:: Fighting corruption is key to Saudi Arabia’s development, a senior World Bank official said as he welcomed the raft of reforms underway in the Kingdom. Hafez Ghanem, vice president of the World Bank for the Middle East and North
World Bank arm to invest $150 million in Egypt’s agriculture sector
:: International Finance Corporation (IFC) has agreed to invest $150 million (SR562.5 million) in Egypt’s agriculture sector in partnership with the country’s private sector, UAE state news agency WAM reported late Saturday. The investment aims at developing the country’s nutrition
World Bank calls for steps to bolster Palestinian economy
:: Even in the absence of an Israeli-Palestinian peace deal, steps can be taken now that could significantly brighten a gloomy Palestinian economic situation, the World Bank said on Tuesday. In a new report it said addressing external constraints on
India needs more jobs for women to boost growth: World Bank
:: India must reverse a trend of falling women’s participation in the job market if it is to achieve its ambition of double-digit growth, the World Bank said on Monday. India is the world’s fastest growing major economy, but has
World Bank urges more investment for developing global electricity
Global efforts to provide universal access to electricity, develop more renewable energy sources and increase efficiency are not on track to meet a target date of 2030, the World Bank said Monday. With fewer people receiving electricity for the first
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
ISIS recruits ‘more educated than others’: Study
Recruits into the Islamic State of Iraq and Syria (ISIS) group are better educated than their average countryman, contrary to popular belief, according to a new World Bank study. Moreover, those offering to become suicide bombers ranked on average in
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
Two top World Bank officials step down
Two top aides of World Bank President Jim Yong Kim, including his controversial chief financial officer, are stepping down, according to a Bank internal memo obtained by AFP on Friday. The two became key lieutenants Kim after his arrival in
World Bank may compensate Syria’s neighbors for refugee costs
The World Bank plans to talk to its member countries about compensating Syria’s neighbors for the substantial fiscal cost of hosting refugees for long periods, a World Bank official said in Geneva on Thursday. “It’s actually quite significant for countries
Egypt expects $1.5 bln in loans from World Bank and AfDB
Oct 11 Egypt expects to receive $1.5 billion in loans from the World Bank and African Development Bank (AfDB) by the end of 2015, Prime Minister Sherif Ismail said, as part of efforts to boost foreign currency reserves and bolster
World Bank, U.N. announce refugee crisis funds
The U.N. and World Bank said Saturday they will increase financing for the Middle East and North Africa to help countries there deal with millions of refugees and rebuild after conflicts. They did not put a dollar figure on the
A new vision for the World Bank
By : Nancy Birdsall Finance ministers, central bankers, and development economists are gathering in Lima, Peru, for the World Bank’s annual meetings, where the debate will focus on how the institution’s agenda fits our changing world. Holding the event in
World Bank: Israel-Palestine conflict ‘high risk’
The World Bank warned of the “high risk” of renewed Israel-Palestinian conflict if the political and economic status quo between the two sides persists, in a report released on Tuesday. “The persistence of this situation could potentially lead to political
World Bank ranks Gujarat as best Indian state for business
Gujarat, the state Prime Minister Narendra Modi ran for more than a decade, is India’s best place for conducting business, the World Bank said, in a report that ranks the country’s states in an effort to encourage them to cut
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