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  • Saudi Arabia Injects $13 Billion in Liquidity-Starved Banks

    Growth in bank deposits has lagged behind Saudi credit expansion driven largely by a boom in mortgages. That has squeezed the money market while the government withholds its oil windfall as part of a more conservative approach to fiscal spending. Saudi Arabia is set for another year of double-digit growth in consumer lending while deposits are up less than 4% so far in 2022. In 2020, the central bank extended over 100 billion riyals to local banks in liquidity injections and to cover the costs of loan deferrals for small businesses hit by the pandemic.

  • Saudi Arabia Injects $13 Billion in Liquidity-Starved Banks

    Growth in bank deposits has lagged behind Saudi credit expansion driven largely by a boom in mortgages. That has squeezed the money market while the government withholds its oil windfall as part of a more conservative approach to fiscal spending. Saudi Arabia is set for another year of double-digit growth in consumer lending while deposits are up less than 4% so far in 2022. In 2020, the central bank extended over 100 billion riyals to local banks in liquidity injections and to cover the costs of loan deferrals for small businesses hit by the pandemic.

  • In Lebanon, how to say ‘I do’ sparks fierce debate

    Civil marriage proponents argue that the cultural battle over how to say “I do” is part of a larger fight about increasing civil and personal rights, eroding the religious power within the country’s sectarian system and, ultimately, chipping away at the sectarian divides ingrained in politics and beyond.

  • Lebanon’s president holds consultations to name premier

    Lebanon’s president began consultations with members of parliamentary blocs on Thursday to name a new prime minister following last month’s parliamentary elections. Outgoing Prime Minister Najib Mikati is widely expected to get the largest support from legislators to form a new Cabinet that will be in power until the end of October when President Michel Aoun’s six-year term expires. Such a short tenure could make it difficult for the billionaire premier to form a Cabinet since it usually takes months to form a government in Lebanon due to political bickering.

  • Lebanese mountaineer embarks on journey to become first Arab woman to climb K2

    Nelly Attar, a Lebanese mountaineer born and raised in Saudi Arabia, on Monday began a 50-day journey to become the first Arab women to reach K2, the world’s second highest mountain, saying she wanted to use her climbs as a vehicle to inspire women across the Middle East.

  • Saudi Arabia Lifts Travel Ban to Turkey Ahead of Crown Prince MBS Visit

    Saudi Arabia ended a ban on travel to Turkey on Monday, re-opening a major channel for tourism and investment ahead of a visit by the crown prince to help repair ties. Saudi citizens will once again be allowed to travel to Turkey, Ethiopia, Vietnam and India, the Interior Ministry said, linking the decision to developments in the pandemic. Travel to Turkey and several other countries was prohibited for Saudi nationals during the Covid-19 health emergency, with the threat of a three-year ban on foreign travel for violators. The decision coincided with a period of particularly tense relations between the two regional powers.

  • Saudi Arabia: Is Untapped Market Attractive to Hollywood After Bans?

    After much fanfare in late 2017 when the kingdom revealed it was reopening movie theaters after more than three decades, recent bans of titles like 'Lightyear' and 'Doctor Strange and the Multiverse of Madness' for featuring LGBTQ characters could have dampened box office expectations, but Hollywood isn’t giving up on the country just yet.

  • Statement by Press Secretary Karine Jean-Pierre on President Biden’s Travel to Israel, the West Bank, and Saudi Arabia 

    While in Saudi Arabia, the President will discuss a range of bilateral, regional, and global issues.  These include support to the UN-mediated truce in Yemen, which has led to the most peaceful period there since war began seven years ago.  He will also discuss means for expanding regional economic and security cooperation, including new and promising infrastructure and climate initiatives, as well as deterring threats from Iran, advancing human rights, and ensuring global energy and food security.

  • Lebanese family turns to farming to survive crises: Video

    Lebanese couple Qassem and Khadija Shreim turn to agriculture to try and keep their family afloat amid the country's deteriorating financial situation.

  • Disney’s ‘Lightyear,’ Which Includes Same-Sex Kiss, Banned in Middle East

    Disney and Pixar’s “Lightyear” will not screen in 11 different Middle Eastern countries, including Saudi Arabia, the United Arab Emirates, Egypt and more as it’s the latest film to run afoul of Gulf censors for LGBTQ+ content. While no specific reason was given, it’s believed to have been banned because “Lightyear” contains a same-sex kiss and relationship involving the female character voiced by Uzo Aduba in the film.