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  • World Bank: Saudi Green Initiatives Will Grow Region’s Economy to $13 Trillion by 2050

    The World Bank confirmed that Saudi green initiatives will grow the region's economy to $13 trillion by 2050. This came at a time the international financial institution projected a growth of 6.9% for Gulf Cooperation Council (GCC) economies in 2022. “Saudi Arabia helps us provide financing to the world's poorest countries and advances the global development agenda, at a time when the global economy is still suffering from destabilizing shocks,” World Bank Country Director of the GCC Issam Abousleiman told Asharq Al-Awsat.

  • Lebanon’s President Michel Aoun leaves office

    Aoun, the 89-year-old Christian president presided over Lebanon’s cataclysmic financial meltdown and the deadly Beirut port blast. The Lebanese Parliament has so far been unable to agree on a successor in the role, which has the power to sign bills into law, appoint new prime ministers and green-light government formations before they are voted on by parliament. Aoun is a deeply divisive figure, adored by many Christians who viewed him as their defender in Lebanon’s sectarian system but accused by critics of enabling corruption and helping Iranian-backed Hezbollah gain influence.

  • Saudi Halloween: Once-Banned Holiday Now Haunted by Masked Monsters

    Only a few years ago, a Halloween party meant arrest. Now, a government-sponsored “horror weekend” means sold-out costume shops and scary clowns. “Saudi is changing,” said a young man going as a wizard.

  • Israel’s Bank Leumi interested in investments in Saudi, chairman says

    Israel's Bank Leumi (LUMI.TA) would like to tap into investment opportunities in Saudi Arabia, Chairman Samer Haj Yehia told a business forum in Riyadh, which he is attending in the latest sign of a potential thawing in Saudi-Israeli relations. The presence of Bank Leumi, one of Israel's two largest banks, at the kingdom's flagship investment event suggested this marked another gesture by Riyadh towards warmer ties with Israel after fellow Gulf states the United Arab Emirates and Bahrain forged ties with Israel in 2020, with Saudi blessings. "We can see that there's a lot of investment going on, and we want to tap into that kind of investment, whether it's on the payment side or on the retail side or on the cryptocurrency side," Haj Yehia told a panel at the FII forum on Thursday.

  • Saudi National Bank to invest $1.52bln in Credit Suisse capital raise

    Saudi National Bank will achieve shareholding of 9.9% in the Swiss investment bank as part of strategy to establish independent investment bank

  • Lebanon: Defeating the Deadlock?

    Lebanon is very much in the situation that had been predicted after parliamentary elections last May: There is no consensus over a replacement for President Michel Aoun; the political forces are struggling to form a government, with no guarantees that they will succeed; and the void is likely to create a new, and worse, situation that might just facilitate the election of a president who can transcend the country’s unremitting divisions.

  • Syrian refugees cling on in Turkey, Lebanon as fears over coerced returns grow

    The first Syrian refugees in Lebanon to return home under a new repatriation scheme will leave on Wednesday, but few in worn-down camps in the central Bekaa Valley said they would sign up. Rights groups fear the programme may not be as voluntary as it purports to be, at a time when concerns are growing about a policy of coercion they say is already in force in Turkey, where 3.6 million Syrians who have fled their country are registered.

  • The other Russia-West war: Why some African countries are abandoning Paris and joining Moscow

    Though Russia has been present in African politics for years, the war – thus the need for stable allies at the United Nations (UN) and elsewhere – accelerated Moscow's charm offensive. In July, Russia's Foreign Minister Sergey Lavrov visited Egypt, Ethiopia, Uganda and the Republic of Congo, fortifying Russia's diplomatic relations with African leaders.

  • ‘Operation Pineapple Express’: How volunteers saved Afghans from Taliban

    The withdrawal of the remaining U.S. armed forces from Afghanistan last year ended America’s longest war and ignited a frenzied evacuation as the Taliban reclaimed power. Hundreds of thousands of Afghans – civilians, government officials, members of the security forces – converged on the airport in Kabul in a desperate attempt to flee.

  • Saudi Arabia Eyes Stake in Broadcaster It Banned For Years

    State-owned BeIn operates across five continents and holds the rights to broadcast some of the world’s biggest sporting events, including the UEFA Champions League football tournament, in its home market in the Middle East. But it was banned in Saudi Arabia following a souring of relations among the kingdom, the United Arab Emirates and Qatar in 2017.