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  • Saudi Arabia seeks extradition from Lebanon of man who threatened embassy

    Saudi Arabia's ambassador to Lebanon Walid al-Bukhari said the kingdom is seeking the arrest and extradition from Lebanon of a Saudi man who threatened the kingdom's embassy in Beirut last week. "We call upon the competent Lebanese authorities to undertake the necessary legal procedures regarding the terrorist threats," Bukhari said following a meeting with Lebanon's interior minister.

  • Saudi Central Bank assets climb to $533bn in July amid continued economic recovery

    Total assets held by the Saudi Central Bank, better known as Sama, jumped more than 8 per cent in July as foreign currency holdings remained stable and deposits in banks abroad climbed. The central bank's assets stood at 2.01 trillion riyals ($533.3bn) in July after growing by 19.5bn riyals, or 1 per cent month on month, from 1.99tn riyals in June, according to its latest statistical report.

  • The Palestinians facing mass eviction in the West Bank: Video

    Fears are mounting among more than a thousand Palestinians that Israel’s army will soon force them to leave their homes in the occupied West Bank.

  • Saudi Central Bank assets climb to $533bn in July amid continued economic recovery

    Total assets held by the Saudi Central Bank, better known as Sama, jumped more than 8 per cent in July as foreign currency holdings remained stable and deposits in banks abroad climbed. The central bank's assets stood at 2.01 trillion riyals ($533.3bn) in July after growing by 19.5bn riyals, or 1 per cent month on month, from 1.99tn riyals in June, according to its latest statistical report. Deposits with banks abroad climbed more than 35 per cent to 331.21bn riyals, from 244.3bn riyals at the end of July 2021. However, they fell about 2 per cent on a monthly basis, from 338.14bn riyals in June, data showed.

  • Why Lebanese citizens are joining the migrant tide out of the Middle East

    “I cannot feed my family. I feel like less of a man every day,” Abu Abdullah, a 57-year-old delivery worker from Tripoli, the poorest city in the country, told Arab News. “I would rather risk my life at sea than hear the cries of my children when they grow hungry.”

  • Saudi Central Bank Permits 2 New Fintech Companies to Operate under its Regulatory Sandbox

    The Saudi Central Bank (SAMA) announced granting permit to a new batch of companies; "Lean Technologies" and "Mod5r" to provide Open Banking Solutions; bringing the total number of permitted Fintech companies operating under its Regulatory Sandbox to 38.

  • Opinion: Softbank’s $23 Billion Loss Looks Like More WeWork Fun

    In retrospect there were reasons to be skeptical of the Vision Fund, the attempt by the Japanese tech conglomerate SoftBank Group Corp. to push its way into the ranks of Silicon Valley’s top venture capitalists. Start with its founder, Masayoshi Son, who was famous chiefly for having lost more money than anyone in history. (Son’s net worth dropped by $70 billion in 2001 after a series of disastrous bets on dot-com startups went bad; he recovered, largely thanks to an early investment in China’s Alibaba Group Holding Ltd.)

  • US court rejects Ben & Jerry’s push to block sales in West Bank

    Judge says the company did not show sales of its ice cream in occupied Palestinian territories caused ‘irreparable harm’.

  • Why a man behind a Beirut bank holdup became the face of Lebanon’s painful financial collapse

    Political and bureaucratic mismanagement and inaction are seen as contributing factors in the runaway inflation. Faour says reasonable reforms proposed by the International Monetary Fund have inevitably been sabotaged by politically connected bankers and politicians.

  • Egypt’s central bank governor resigns amid economic woes

    President Abdel Fattah al-Sissi accepted the resignation of Mr. Amer, who had been in office since 2015 and whose term ran until 2023, and then appointed him as presidential adviser, the daily Al-Ahram reported. The brief statement offered no reasons for Amer's resignation. He had been appointed as governor of the central bank in November 2015.