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  • Kuwait bans cryptocurrency and virtual assets transactions

    Kuwait’s supervisory authorities, including the Central Bank of Kuwait, the Capital Markets Authority, the Ministry of Commerce and Industry, and the Insurance Regulatory Unit, have jointly issued circulars to address the use and recognition of virtual assets within the country. The circulars, reported by Al-Jarida daily, are in accordance with the recommendations set forth by the Financial Action Task Force (FATF) in Recommendation No. 15 to combat money laundering and the financing of terrorism.

  • Saudi FM, French envoy discuss crisis-struck Lebanon

    Saudi Foreign Ministry Prince Faisal bin Farhan discussed the situation in crisis-struck Lebanon on Tuesday during a meeting with France’s special envoy for Beirut, Jean-Yves Le Drian. In addition to touching on the latest developments in Lebanon, the officials tackled regional and international matters and efforts exerted in this regard, a tweet from the ministry said.

  • The Soil and the Sea: Excavating Lebanon’s history of violence

    Between 1975 and 1990, Lebanon’s civil war forced nearly a million people to flee the country and left some 120,000 dead. Armed factions formed mostly along communal lines, the Syrian dictatorship intervened and occupied parts of the country’s north, Israeli forces invaded and occupied southern Lebanon, and one massacre after another racked up. In the three decades since the 15-year conflict formally ended, Lebanon’s fate has, in many ways, remained tethered to the sectarianism, political violence and paramilitarism the war enshrined.

  • Gulf Engagement in Flux as Taliban Supreme Leader Consolidates Power

    A recent meeting between Qatar and the Taliban’s supreme leader shows that engagement with the Taliban’s leadership in Kandahar is a necessary but not always sufficient condition for progress.

  • Newcastle United owners PIF handed transfer ban by FIFA at Saudi Arabia club

    Al-Nassr have three transfer windows to pay the fee owed or risk being referred to FIFA’s Disciplinary Committee. The Daily Mail reports that Al Nassr intend to lift the ban by paying the fee and have intimated that the oversight came before their recent change in structure after the PIF took over.

  • Turkey’s finance, banking chiefs to visit Saudi Arabia in search of foreign funds

    The visit comes as the country’s new economy management is scrambling to attract foreign funds in a bid to ease the country’s foreign currency crunch and raise the central bank’s depleted reserves.

  • Saudi Arabia deposits $2 billion in Pakistan’s central bank as a boost ahead of a key IMF meeting

    Saudi Arabia has deposited $2 billion into Pakistan’s central bank, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country

  • Italy agrees to lift ban on flights from conflict-stricken Libya, officials say

    Commercial flights between Italy and conflict-torn Libya will resume in September after the Italian government agreed to lift a 10-year-long ban on civil aviation in the North African nation, one of Libya’s rival governments said Sunday. Abdul-Hamid Dbeibah, prime minister of the Tripoli-based government, said on Twitter that the Italian government of Prime Minister Giorgia Meloni informed his government of the decision. He called the removal of the ban a “breakthrough.”

  • Yemen’s Houthi authorities ban Swedish imports over Koran burning

    Yemen's Houthi movement, which controls the country's north, has banned Swedish imports in protest against the burning of the Koran in Stockholm, the Houthi-run Al Masirah TV said. "Yemen is the first Islamic country to ban imports of Swedish goods after its violations and desecration of Muslims' holiest," Al Masirah quoted the Houthi trade minister as saying. The minister described Swedish imports as "limited" but said the decision has a symbolic value and that the ban was the least the Houthis could do. He also called on fellow Islamic countries to follow suit.

  • Saudi National Bank Wanted 40% Stake in Credit Suisse: Blick

    Credit Suisse’s largest shareholder, the Saudi National Bank, wanted to raise its stake to 40% ahead of the Swiss bank’s collapse in March, Swiss newspaper Blick reported. The lender, which held just under 10% of Credit Suisse shares, had approached the Swiss government and regulators with a group of investors to inject $5 billion into the beleaguered bank, according to the newspaper, which cited two sources it didn’t identify.