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  • GCC banks set record with $21.5bn in Q2 lending profits

    Profits from lending activities at Gulf Cooperation Council banks reached a record $21.5 billion in the second quarter of 2024, marking a 7.6 percent increase from the same period last year, according to a recent report. On a quarterly basis, the region experienced a 0.91 percent rise in net interest income, rebounding from a decline in the first quarter, thanks to growth in four of the six GCC countries, as reported by Kamco Invest’s latest GCC Banking Sector report.

  • At least nine Palestinians killed as Israel mounts major West Bank operation

    At least nine Palestinians were killed on Wednesday, Palestinian authorities said, as Israeli forces raided the flashpoint cities of Jenin and Tulkarm as well as other areas in the occupied West Bank in a major operation involving helicopters and drones. The assault, one of the largest seen in the West Bank for months, followed a series of smaller raids in the area over recent weeks as Israeli forces sought to crush groups of fighters from Palestinian militant groups.

  • Israel says situation on Lebanon border ‘not sustainable’

    Israeli officials and media reacted with satisfaction on Monday after a long-expected missile attack by the Iranian-backed Hezbollah movement appeared to have been largely thwarted by pre-emptive Israeli strikes in southern Lebanon. Both Hezbollah and Israel seemed content to let Sunday's attack, in retaliation for the killing of a senior Hezbollah commander in Beirut last month, count as settled for the moment.

  • Its economy and infrastructure battered, can Lebanon afford a war with Israel?

    The risks for Lebanon are far greater than in 2006, when a monthlong war with Israel ended in a draw. Lebanon has struggled with years of political and economic crises that left it indebted, without a stable electricity supply, a proper banking system and with rampant poverty.

  • Taliban codify morality laws requiring Afghan women to cover faces, men to grow beards

    Afghanistan's Taliban formally codified a long set of rules governing morality this week, ranging from requiring women to cover their faces and men to grow beards to banning car drivers from playing music, the Justice Ministry said. The rules, promoted as in line with Islamic sharia law and to be enforced by the morality ministry, were based on a decree by the Taliban's supreme spiritual leader in 2022 and were now officially published as law, a Justice Ministry spokesman said.

  • Five Saudi banks to finance cultural development fund

    Five Saudi banks have agreed to provide financing for a new arts fund managed by Saudi Arabia’s Cultural Development Fund, which has been leading government support for the arts since 2021.  The agreement with Al-Rajhi Bank, Alinma Bank, Banque Saudi Fransi, Arab National Bank and Bank Aljazira will provide support to private sector projects in the 16 areas covered by the fund, which include architecture, museums, film, fashion, music and poetry.

  • Inside Lebanon’s Ponzi scheme economy and the $100bn outflow crisis

    “A close look over the 2003-2019 period suggests that outflows from Lebanon exceeded inflows to Lebanon by $100 billion, exerting pressure on the net foreign assets of the financial system composed of banks and the Central Bank and depleting liquidity within the system,” Dr. Marwan Barakat, Group Chief Economist and Head of Research at Bank Audi, told Arabian Business.

  • Israel says it bombed Hezbollah arms depots in Lebanon’s Bekaa Valley

    The Israeli military said on Wednesday that it bombed Hezbollah weapons storage facilities in Lebanon's Bekaa Valley overnight, its latest strike on arms depots in a major stronghold of the powerful Iranian-backed militia. The air attack came hours after Israeli Defence Minister Yoav Gallant said that "attacking munitions warehouses in Lebanon is preparation for anything that might happen". Hezbollah said it had retaliated for the strike on the Bekaa region by firing Katyusha rockets at an Israeli military logistics site in the Israeli-occupied Golan Heights.

  • King Salman Charter for Architecture and Urbanism Award Announces 2024 Winners in Saudi Arabia

    The King Salman Charter for Architecture and Urbanism Award has just announced the winners for 2024. Recognizing outstanding achievements in architecture and urbanism in Saudi Arabia, The King Salman Charter for Architecture and Urbanism Award is an initiative designed to celebrate projects that are aligned with the values of the King Salman Charter in Saudi Arabia. This year, since projects were honored with the award from three categories: built projects, unbuilt projects, and student projects.

  • Taliban Leadership Tracker

    With the Taliban entrenched in power in Afghanistan, the group's extremist ideology, history of ruthless repression, and extensive ties to militant networks demand close monitoring of its members, affiliates, and their activities. This imperative demands a deeper understanding of the configuration of the Taliban's current government and the internal power dynamics. This initiative aims to provide continuous insights into the “who's who” within the regime's corridors of power.