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  • IMF Expects GCC Reserves to Grow by $300-$350 Bln in Three Years on Higher Oil Prices

    The International Monetary Fund expects the foreign reserves of the six oil-rich Arab countries of the Gulf Cooperation Council (GCC) to increase by $300-$350 billion in the next three years, a senior official said on Tuesday.

    The GCC - which comprises Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, Oman - "will benefit from the increase in oil prices", Jihad Azour, Director of the Middle East and Central Asia Department at the IMF, told Asharq TV. Oil prices have risen about 60% from the start of the year as global demand recovers from the coronavirus pandemic.

  • Iran General killed in suspected Israel air strike in Syria

    An Iranian General has been killed in a suspected Israeli air strike near the Syrian city of Aleppo, nearly two months after the Islamic Republic warned it would retaliate against attacks on its interests, Iran’s state TV reports. According to the report, Saeed Abyar, described as a Military Adviser, was targeted in a bombing raid resulting in the death of several civilians and “material losses”.

  • Lucid Motors campaign builds emotional bonds with Saudis

    Electric vehicle brand Lucid Motors, in collaboration with MCH Global and Create Production, launched a Ramadan campaign to connect with the Middle Eastern market. The campaign was created to particularly focus on Saudi Arabia.

  • Israel Secretly Targets U.S. Lawmakers With Influence Campaign on Gaza War

    The covert campaign was commissioned by Israel’s Ministry of Diaspora Affairs, a government body that connects Jews around the world with the State of Israel, four Israeli officials said. The ministry allocated about $2 million to the operation and hired Stoic, a political marketing firm in Tel Aviv, to carry it out, according to the officials and the documents.

  • Surprising, Unsettling, Surreal: Roaming Through Saudi Arabia

    All across Saudi Arabia, I’d seen countless projects being built, from simple museums to high-end resorts. These were the early fruits of an $800 billion investment in the travel sector, itself part of a much larger effort, Vision 2030, to remake the kingdom and reduce its economic dependence on oil.

    But I’d begun to see the building projects as something else, too: the striving of a country — long shrouded to most Westerners — to be seen, reconsidered, accepted. And with its doors suddenly flung open and the pandemic behind us, visitors like me were finally beginning to witness this new Saudi Arabia

  • A War on the Nile Pushes Sudan Toward the Abyss

    Khartoum, the capital of Sudan and one of the largest cities in Africa, has been reduced to a charred battleground. A feud between two generals fighting for power has dragged the country into civil war and turned the city into ground zero for one of the world’s worst humanitarian catastrophes.

  • Emirates boss Tim Clark slams Heathrow as a ‘Second World War’ airport with ‘a dismal experience’

    He said “travelling from Terminal 3 is a dismal experience” and the building needs reconfiguring to improve the customer journey. “I was at Heathrow the other day and walking out of our lounge the ceiling height is awful. It looks like a utilitarian structure, post-Second World War. It is just not good enough,” Sir Tim said. He wants Terminal 3 to be redesigned, with the plaza size reduced to allow more room for security and check-in, the report said.

  • Scars of Conflict Are Deeper and Longer Lasting in Middle East and Central Asia

    Economies across the Middle East and Central Asia are more affected by conflicts—even a decade after a severe conflict, their income per capita remains about 10 percent lower. The idea that violent conflict reduces economic output is uncontroversial. However, the repercussions are notably harsher and longer lasting in these regions than in most others, as we show in a chapter of our latest Regional Economic Outlook for the Middle East and Central Asia.

  • Sidelined in Gaza war, Hezbollah fighters yearn for victory over Israel

    About 330 fighters have been killed across southern Lebanon since Iran-backed Hezbollah escalated its conflict with Israel to support Palestinian Hamas militants, who attacked from Gaza last Oct. 7. Hezbollah has signaled it will stop its campaign if Israel ends its Gaza offensive.

  • Opinion: Netanyahu fighting Biden’s plan to end the war bodes ill for the ‘special relationship’

    Mr Biden appealed to ordinary and elite Israelis for help. “I know there are those in Israel who will not agree with this plan and will call for the war to continue indefinitely,” Mr Biden stated, adding that “some are even in the government coalition”. This invited casual observers to assume he was referring to Jewish supremacists such as Finance Minister Bezalel Smotrich and National Security Minister Itamar Ben-Gvir.