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  • What’s New in Luxury in the Middle East? Casino, Cocktails, Christie’s

    Welcome to Pursuits Middle East, a new biweekly column that takes you inside the fast-growing luxury lifestyle market in the region

  • Egypt Plans to Raise Ration Card Commodity Prices, Minister Says

    Egypt plans to gradually increase the price of basic commodities distributed through ration cards in the coming period, according to the country’s supply minister. “The hike of subsidized commodities prices distributed through ration cards now force us to review the prices or otherwise the government will not be able to fund or provide these commodities,” Supply Minister Ali El-Mosilhy said at a press conference in Cairo. He added that the review process would start in the coming days.

  • Saudi Arabia Calls for Stopping Foreign Interference in Libya’s Affairs

    Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah met in Riyadh on Sunday with Abdoulaye Bathily, the Special Representative of the United Nations Secretary-General for Libya and Head of the UN Support Mission in Libya. During the meeting, the Minister of Foreign Affairs stressed the Kingdom's support for the inter-Libyan solution under the auspices of the UN, and the need to stop foreign interference in Libyan affairs.

  • Three UN sustainability goals have seen the most progress—but not very much

    “A preliminary assessment of the roughly 140 targets with data show only about 12% are on track; close to half, though showing progress, are moderately or severely off track and some 30% have either seen no movement or regressed below the 2015 baseline,” said a United Nations secretary general’s special report published recently.

    “There has been progress in some areas, however, progress against a very worrying proportion of targets is either moving much too slowly or has regressed,” it said.

  • Kais Saied’s Fantasies Are Drowning Tunisia

    The April 18 arrest of Rached Ghannouchi represents a dramatic escalation of Tunisian President Kais Saied’s assault on the political opposition. The leader of the Islamist oriented Ennahda Party and speaker of the former parliament, he is the most prominent of some 20 leaders arrested by the regime. One American analyst tweeted that some of 100 officers who searched Ghannouchi’s home repeatedly asked where the gold and jewelry were hidden. However strange, this effort to literally uncover a presumably hidden fortune suggests that the security forces subscribe to the conspiracy theories that Saied—and his allies in the online media—have spread with considerable success.

  • Air strikes, tank fire rock Sudan’s capital region despite truce pledge

    Strikes from the air, tanks and artillery shook Sudan's capital of Khartoum on Friday and a heavy bombardment pounded the adjacent city of Bahri, witnesses said, even though the army and a rival paramilitary force agreed to extend a truce by 72 hours. Hundreds have been killed and tens of thousands have fled for their lives in a power struggle between the army and the Rapid Support Forces (RSF) that erupted on April 15 and disabled an internationally backed transition to democracy.

  • Saudi Islamic Banks’ Growth, Capital Remain Strong

    Saudi Islamic banks’ standalone credit profiles will remain strong in 2023, supported by high oil prices and robust non-oil real GDP growth. Strong credit growth will put some pressure on capital, funding and liquidity, with increasing recourse to market funding. However, SAMA is likely to inject further liquidity if necessary. We do not expect M&A involving Islamic banks in the near future.

  • Saudi Arabia Railways issues call to suppliers of locomotives and wagons

    SAUDI Arabia Railways (SAR) has issued a call for expressions of interest for a contract to supply 25 mainline locomotives, including options for additional locomotives, and a second for the design, manufacture and supply of up to 900 tank wagons. The locomotives are primarily to be used to haul tank wagons, with the performance target being the ability to haul up to 140 tank wagons using four locomotives operating in multiple.

  • Iranian-Saudi thaw may aid Lebanon, but will it gain Hezbollah?

    Iran and Saudi Arabia’s political détente matters not only for the two countries but also for their regional partners, including Lebanon. The rapprochement offers Beirut some hope of resolving its interweaving crises, which have partly been caused by tensions between the two regional powers. But any relief is unlikely to be imminent, and important questions—such as the position of Lebanon’s powerful Hezbollah movement—remain unclear.

  • Sudan’s Bashir and allies out of jail, Khartoum fighting flares

    Sudan's capital resounded with gunfire and explosions on the western outskirts on Wednesday, eroding a truce amid collapsing basic services, dwindling food supplies and the opening of a prison that let out allies of a jailed former autocrat. With the conflict between the army and the paramilitary Rapid Support Forces (RSF) showing no sign of easing, the army said former president Omar al-Bashir had been transferred to a military hospital before hostilities started on April 15.