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  • Saudi Arabia’s Tadawul exchange forms a Shariah advisory committee

    Saudi Exchange said it will form a Shariah advisory committee as part of efforts to maintain the highest standards of governance over investment tools that it will provide. The committee comprises representatives from the largest financial institutions in the kingdom. To ensure transparency in decision making, the Saudi Exchange will oversee the Shariah advisory committee without actively taking part in the company screening and selection process, the bourse said in a statement on Thursday.

  • Exclusive: New Iranian ambassador signals ‘changed approach to Iraq’

    Preferring to speak without attribution given the sensitivity of the matter, one Iraqi source stated, “The Iranians wanted to assign someone with strong cultural roots in Iraq and a somewhat more acceptable face to reflect change.” The source highlighted two key dimensions to Aal-e Sadeq compared to his predecessor: his status as a member of a “‘Hawzawi family”—referring to the Shiite seminary in the holy city of Najaf—and his fluency not just in Arabic but specifically the Iraqi dialect.

  • Climate Change Proposals Favored by Solid Majorities in U.S.

    Americans widely favor each of six proposals designed to limit greenhouse gas emissions that contribute to climate change. Support ranges from 59% in favor of spending federal money for building more electric vehicle charging stations in the U.S. up to 89% for providing tax credits to Americans who install clean energy systems in their homes.

  • Saudi Arabian pavilion at the Venice Biennale: Exhibition rings the changes

    Choice of artist Muhannad Shono for the national pavilion is a sign itself of the country’s social and political shift. “I never expected to represent Saudi at the Venice Biennale,” says Muhannad Shono. An artist who has been unafraid to critique the country’s social restrictions—now easing under Crown Prince Mohammed bin Salman—Shono takes his nomination by Saudi Arabia a sign of “how big the changes are for all those who now feel free to question and create”.

  • Muscat Stock Exchange plans to launch market maker as it eyes emerging market status

    The index has now completed the procedures to lift all limits on foreign ownership in listed companies, MSX chief executive Haitham Al Salmi, told Al Arabiya. This marks the "first step towards liberalising the market, as we mainly aim to raise its classification to an emerging market, which requires making shares available for trading by all nationalities", he said.

  • Saudi Deposit Promotes Stability of Egypt’s Freign Exchange Market

    According to the statement, the agreement aims to encourage the Saudi PIF to invest in Egypt and contribute to achieving the country’s goals in attracting investments in foreign currencies. The total volume of trade exchange between Saudi Arabia and Egypt in 2020 exceeded about $5.5 billion, and rose to $7.5 billion this year.

  • Climate change: Wind and solar reach milestone as demand surges

    Wind and solar generated 10% of global electricity for the first time in 2021, a new analysis shows. Fifty countries get more than a tenth of their power from wind and solar sources, according to research from Ember, a climate and energy think tank.

  • Binance: Biggest Cryptocurrency Exchange Braces for Competition in Its Dubai Hub

    Binance Holdings Ltd. expects some of its top competitors to set up headquarters in its unofficial home jurisdiction of Dubai, drawn by the sun-splashed emirate’s crypto-friendly policies. Changpeng ‘CZ’ Zhao, the firm’s co-founder and chief executive officer, said in an interview that at least five other exchanges are applying for licenses in Dubai, following recent approvals for Binance and the Bahamian exchange FTX.

  • Commentary: War in Ukraine Has Changed Iran Nuclear Deal Calculus

    While Biden’s trying to discourage China from helping sanctioned entities, he’s been slow to address the depth of anger among Gulf Arab allies over the Iran deal, damaging efforts to isolate Moscow.

  • ‘Tawakkalna’ status changes when visitors do not have active health insurance

    The Ministry of Interior has clarified that people coming to Saudi Arabia on all kinds of visit visas must obtain health insurance for emergency treatment including Covid-19 coverage in the event a person gets infected with the coronavirus. The rule applies to all visitors including those coming on Umrah and tourism visas as well as multiple-entry visas. The coverage should be for the entire period of the visitor’s stay within Saudi Arabia. The insurance policy must be renewed when the visa is extended.