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Jordan has signed a new $1.3 billion programme with the International Monetary Fund (IMF), the state news agency Petra said on Thursday. Petra said it was a four-year programme, but it gave no further details. In December, the country’s finance minister said a new IMF deal would secure lower servicing …

President Donald Trump’s fellow Republicans in the U.S. Senate came under renewed pressure on Monday to allow witnesses in his impeachment trial, while his defense team largely ignored disclosures from a former White House adviser. The elephant in the room on Day 2 of Trump’s defense arguments was John Bolton, the …

EU antitrust regulators will decide by Feb. 27 whether to clear state energy firm Saudi Aramco’s $69.1 billion acquisition of world number four petrochemicals group Saudi Basic Industries Corp (SABIC), a European Commission filing showed. Aramco, the world’s largest oil producer, announced the deal to buy a 70% stake in …

Monaco-based oil and gas consultancy Unaoil paid $6 million in bribes to secure Iraqi oil contracts after the fall of Saddam Hussein, a London court heard on Thursday. In the trial, which has just begun, two former Unaoil managers and an ex-sales chief of Dutch-based energy services company SBM are …

American business executives should still do business with Saudi Arabia, U.S. Treasury Secretary Steven Mnuchin said on Thursday after a report on the kingdom’s possible involvement in the hacking of Amazon CEO and Washington Post owner Jeff Bezos’ phone. Asked if U.S. chief executives should still be inclined to do …

Lebanon’s new government must reassure international donors it is serious about reforms to tackle a financial crisis as it looks initially to secure up to $5 billion in soft loans for basic goods, its finance minister said on Thursday. The government that took office on Tuesday faces an emergency in …

U.S. Secretary of State Mike Pompeo said on Wednesday only a Lebanese government “capable and committed to undertaking real and tangible reforms will restore investor confidence and unlock international assistance.” In a statement, Pompeo also urged “the government, army, and security services to guarantee the safety of citizens as they …

Lebanon’s new government needs foreign support to help it get out of an unprecedented economic and financial crisis, the finance minister said on Wednesday. Hours after he was named, Finance Minister Ghazi Wazni also said the government must decide on its approach to a $1.2 billion Eurobond maturing in March. …

U.N. Secretary General Antonio Guterres welcomed the formation of a new Lebanese government on Tuesday and will work with the new premier to support reforms in the heavily indebted country grappling with an urgent economic crisis. A statement issued by Guterres’ spokesperson also said the United Nations was committed to …

Two UN officials will report on Wednesday that there is enough evidence suggesting that Saudi Arabia had hacked Amazon.com Inc founder Jeff Bezos’ phone and both the kingdom and the United States should investigate, a person familiar with the matter said. The United Nations’ officials plan a public statement asserting …

Yemen’s warring sides opened a new front in their five-year conflict on Saturday – a battle over old and new banknotes that threatens to create two economies in the same state. As of midnight, the Houthi movement which controls the capital Sanaa outlawed the use and possession of crisp new …

Britain expanded the scope of its asset-freezing measures against Lebanese Islamist movement Hezbollah on Thursday to cover the entire organization as well as its military wing. The finance ministry move follows Britain’s decision last year to classify the whole group a terrorist organization due to its destabilizing influence in the …

Amnesty International’s legal bid to have Israel revoke the export license of the Israeli NSO surveillance firm will be heard behind closed doors, an Israeli court ruled on Thursday. A Tel Aviv District judge cited national security concerns in ordering the restriction, accepting the Israeli Defence Ministry’s request to ban …

Dubai – Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has announced a new district under the name of “Dubai Future District” dedicated to the new economy will take shape in Dubai. According to WAM news agency, Sheikh Mohammed has also announced the launch …

Economic shocks stemming from rising sea levels pose a long-term risk to the sovereign credit ratings of dozens of countries which have large areas at risk of submersion, including Vietnam, Egypt, Suriname and the Bahamas, Moody’s said on Thursday. Climate science suggests that sea levels will continue to rise for …

Lebanese politicians are watching the economy collapse, the senior U.N. official in Lebanon said on Wednesday, rebuking a political elite that has failed to form a government as the country sinks deeper into economic and financial crisis. Lebanon has been adrift since the government was toppled by the resignation of …

Abu Dhabi – The newly formed Dutch Sustainability Group (DSG) signed a Memorandum of Understanding to jointly help the UAE achieve its Sustainable Development Goals. The Memorandum was signed at the backdrop of the Abu Dhabi Sustainability Week (ADSW) Tuesday in the presence of his Excellency Thani Ahmed Alzeyoudi, the …

Egypt wants to create an investment arm to channel funds to projects along the Suez Canal to take advantage of proximity to one of the world’s busiest shipping lanes, the chairman of The Suez Canal Economic Zone (SCZone) said. The government has been directing billions of dollars of investment over …

Israel’s foreign trade deficit grew 10.4% to $23.74 billion in 2019 amid a drop in exports, the Central Bureau of Statistics said on Monday. Exports — which account for about 30% of Israel’s economic activity — fell 4.2 last year, led by a nearly 14% drop in high tech exports, …

Israel’s budget deficit is projected to be at least 4% of gross domestic product in the next few years if the government does not make tax and spending adjustments of tens of billions of shekels, the Finance Ministry said in a report on Sunday. A year-long political stalemate has made …

State-owned oil company Saudi Aramco said on Sunday it has exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion. Aramco initially raised a then-record $25.6 billion in its IPO in December by selling 3 …

Turkey plans to sign by February a preliminary $2.7 billion compensation deal for work carried out in Libya before the 2011 civil war, a sector official said, seeking to revive stalled Turkish business operations in the conflict-ridden country. Turkish businesses have long been active in Libya but their projects were …

Japanese Prime Minister Shinzo Abe is proceeding as planned with a trip to Saudi Arabia, the United Arab Emirates and Oman from the weekend, a person with direct knowledge of the matter said on Friday. Media had reported this week the trip could be canceled amid heightened tensions in the …

Ousted Nissan boss Carlos Ghosn said on Wednesday he was ready to use his expertise if asked to help Lebanon, which is reeling from a deep economic and financial crisis. Speaking at a Beirut news conference, Ghosn said he had no political aspirations “but if it is asked of me …

By Sarah Safa   A new phase of reconciliation could finally begin to define the US relations with China after nearly two years of commercial and economic tensions. Those tensions have been shaking the balance and stability of the international system, what brought on the surface divergences for the first time …

The U.S. Central Intelligence Agency has devised technology to restrict the use of anti-aircraft missiles after they leave American hands, a researcher said, a move that experts say could persuade the United States that it would be safe to disseminate powerful weapons more frequently. The new technology is intended for …

Former Nissan and Renault Chairman Carlos Ghosn, who was barred from leaving Japan whilst awaiting trial on charges of financial misconduct, on Tuesday said he was in Lebanon. “I have not fled justice – I have escaped injustice and political persecution,” Ghosn said in a statement. He said would “no …

Sudan has passed its 2020 budget that includes an overall deficit of about 73 billion Sudanese pounds ($1.62 billion), Finance Minister Ibrahim Elbadawi said on Sunday. The country’s ruling sovereign council and Cabinet agreed the budget – the country’s first since the toppling of longtime ruler Omar al-Bashir, whose final …

Israel will withold around $43 million in tax handovers to the cash-strapped Palestinian Authority (PA) over its financial support for the families of slain or wounded Palestinian militants, the Israeli security cabinet said on Sunday. The decision followed Israel’s similar trimming in February of funds to offset PA payouts to …

Italian state-owned shipbuilder Fincantieri (FCT.MI) won a contract worth approximately $1.3 billion from the U.S. Navy to build four ships for Saudi Arabia, it said on Friday. The order is part of a multi-billion contract awarded to a consortium led by defense group Lockheed Martin – which includes Fincantieri’s unit …

Iran, Malaysia, Turkey and Qatar are considering trading among themselves in gold and through a barter system as a hedge against any future economic sanctions on them, Malaysian Prime Minister Mahathir Mohamad said on Saturday. At the end of an Islamic summit in Malaysia, Mahathir praised Iran and Qatar for …

MSCI Inc, the world’s largest index provider, said it will reclassify the MSCI Kuwait Indexes from frontier to emerging markets as the Kuwaiti equity market had met all the necessary requirements, a move expected to generate billions of dollars of inflows. The index compiler will include the MSCI Kuwait index …

A Dubai bank shuttered accounts earlier this year of a secret offshore company belonging to a Maltese businessman since charged with the murder of an investigative journalist, two banking officials have said. The businessman, Yorgen Fenech, was charged last month with complicity in the 2017 killing of Daphne Caruana Galizia, …

Lebanon’s possible pursuit of assistance from the International Monetary Fund and World Bank is credit positive and reduces the risk of extreme macroeconomic instability, Moody’s said on Monday. “Without technical and financial support from the IMF, World Bank and international donors, a scenario of extreme macroeconomic instability – in which …

Why did Qatar pass up the chance to invest in Saudi Aramco? It’s the question on nobody’s lips, at least publicly, at the Doha Forum, the emirate’s annual bash for international politicians and investors taking place in its capital this weekend. That’s a pity. Unpacking why Doha didn’t buy into …

Saudi Aramco’s 2222.SE shares went up slightly to 37 Saudi riyals ($9.87) in a pre-market auction on Sunday, Refinitiv data showed, putting the company’s market value slightly below $2 trillion. Aramco’s shares closed at 36.8 riyals on Thursday after hitting earlier in the day the $2 trillion price tag long …

We can attract more tourists with our history and values Shavkat Mirziyoyev Khiva – The City Museum Khiva is the most peculiar Uzbek city. Its history is inextricably connected with the history of the legendary Khorezmshah’s State with its capital in Urgench before. Khiva is a very ancient city. In the 10th …

What is Itchan-Kala? In ancient Khiva, as well as other eastern cities, was divided into three parts: the fortress – Kunya-Ark, suburb – Dishan-Kala and the city – Itchan-Kala. Today Itchan-Kala (Ichan Kala) is open-air museum. It is the old part of the city, surrounded with wall and turned into the …

A U.S. Senate committee backed legislation on Wednesday to impose sanctions on Turkey after its offensive in Syria and purchase of a Russian S-400 missile system, the latest move in the chamber to push Republican President Donald Trump to take a harder line against Ankara. The Republican-led Senate Foreign Relations …

Saudi Aramco’s (2222.SE) share price jumped 10% for the second consecutive day, hitting 38.7 riyals ($10.32) in a pre-market auction, Refinitiv data showed, suggesting the company will hit a $2 trillion market value when it starts trading on Thursday. The state-owned oil giant’s shares surged the maximum permitted 10% above …

On December 10, 2019, Uzbekistan delegation led by Deputy Minister of Foreign Affairs Dilshod Akhatov and representatives of various ministries and agencies of Uzbekistan arrived in Brussels. The purpose of the visit is to conduct the 4th round of negotiations on the draft Enhanced Partnership and Cooperation Agreement between Uzbekistan …

On December 11-13, 2019, Uzbekistan delegation led by the Minister of Foreign Affairs Abdulaziz Kamilov will visit Italy. The program of the visit includes conduction of meetings with the Minister of Foreign Affairs and International Cooperation Luigi Di Maio and other officials to discuss prospects for further development of bilateral …

A summit of the Gulf Cooperation Council (GCC) countries called for finalizing legislation for regional economic integration by 2025, including financial and monetary unity, according to the meeting’s final communique. The statement, read by GCC General Secretary Abdullatif bin Rashid Al Zayani and broadcast live, called also for boosting military …

U.S. lawmakers announced an agreement on Monday on a $738-billion bill setting policy for the Department of Defense, including new measures for competing with Russia and China, family leave for federal workers and the creation of President Donald Trump’s long-desired Space Force. It also calls for sanctions on Turkey over …