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  • Hezbollah condemns Saudi designation of Lebanese association as terrorist entity

    Lebanon's Shi'ite group Hezbollah condemned on Thursday Saudi Arabia's decision to designate the financial charity body Al-Qard Al-Hasan Association as a terrorist entity, calling it a form of aggression against Lebanon and interference in its internal affairs. "This rejected decision will not affect the work of this humanitarian institution, which has dedicated itself to serving the poor and the needy," the Iran-backed group said in a statement.

  • Beirut Port Explosion: The Investigation That Will Shape Lebanon’s Future

    The port that had suffered from “serious governance, transparency, and accountability issues” is a microcosm of how vital resources, public funds, and ports of entry have been mismanaged for at least three decades. Even former Prime Minister Hassan Diab, who is refusing to appear before the judge investigating the case, acknowledged this fact on his resignation after the explosion.

  • How Corruption Ruined Lebanon

    The explosion was one of the largest non-nuclear blasts in history. It killed at least 216 people (the exact figure is unknown) and injured more than 6,500. It left hundreds of thousands homeless and damaged 85,744 properties. Attieh’s mother and brother survived, but between them they needed about 100 stitches. Nineteen people from their neighborhood weren’t so lucky. Their names are memorialized across the street on a stone plaque bordered by red geraniums.

  • World Bank freezes Sudan aid over coup as civil disobedience grows

    Thousands of people have taken to the streets since Monday’s coup led by armed forces chief General Abdel Fattah al-Burhan, and several have been killed in clashes with security forces. Burhan has dismissed the joint civilian-military council set up to steer the country to democratic elections following the overthrow of autocrat Omar al-Bashir in a popular uprising in April 2019.

  • Citigroup plans more investment in Saudi Arabia, eyes banking license

    Citigroup wants to pursue a banking license in Saudi Arabia to further boost its business in the kingdom by expanding into trade finance and treasury solutions, a senior executive said. Citi was awarded a Saudi capital markets licence in 2017, allowing it to return to the kingdom in 2018 after a 13-year absence.

  • Saudi’s SAMA Chief: Low-Cost Digital Central Bank in pipeline

    Saudi Central Bank (SAMA) Governor Dr. Fahd Al-Mubarak said that the Kingdom is striving to establish a low-cost digital central bank that simulates digital operations, which would have a hedge against the real liquidity maintained in central banks. Addressing the session of the Future Investment Initiative here Tuesday, he said that some countries have started experimenting with these systems. “The Kingdom has a cross-digital currency project with the UAE, and there is a large project for financial technology in Saudi Arabia,” he pointed out.

  • Lebanon’s negotiations with IMF likely to start in November – foreign minister

    The Lebanese foreign minister said on Sunday that negotiations with the International Monetary Fund would likely start in November, Lebanon's Al Jadeed TV reported. Economy Minister Amin Salam had said on Friday in an interview with Reuters that the new government aimed to make progress towards starting full negotiations for an IMF deal by the end of this year or early next but was not expecting funds to be dispersed before elections in March.

  • Saudi National Bank Posts 20% Rise in Quarterly Profit

    Saudi National Bank (SNB), the country's biggest lender, on Sunday posted a nearly 20% rise in third-quarter profit from higher fees. SNB reported a net profit of 3.8 billion riyals ($1.0 billion) for the quarter that ended on Sept. 30, up from 3.2 billion riyals in the same period a year earlier.

  • To fight ISIS-K in Afghanistan, Pakistan is using informal channels to share intelligence with Taliban

    Pakistan appears to be one of the few foreign governments directly aiding the Taliban in the Islamic State fight, despite concerns from the United States and other countries that Afghanistan could once again become a haven for militants to carry out attacks on international targets if the Taliban is unable to contain them. Regional rivalries, deep-rooted distrust and the Taliban’s counterterrorism shortcomings have also complicated intelligence sharing with the group, according to current and former U.S. officials.

  • Riyadh Season kicks off with a bang as WWE Crown Jewel returns to Saudi Arabia

    The event had major matches taking place, including the return of some of the organization's biggest superstars, none bigger than Brock Lesnar, who was back in a championship match against Roman Reigns. Three more championship matches, including a “No Holds Barred” match as well as the finals for King of the Ring and Queen's Crown also took place.