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  • Saudi Arabia poised to become clean netting jurisdiction

    Saudi Arabia is set to become the final G20 country to implement close-out netting legislation, with the Gulf state’s central bank having recently finalised new rules. The draft regulation on netting agreements and collateral arrangements sets out that netting is permitted once bankruptcy procedures have commenced and is broadly aligned with the International Swaps and Derivatives Association’s model netting law.

  • Iran-Israel conflict poses an existential risk for Lebanon, unless Biden can intervene

    Iran's failed attack on Israel may have sealed Lebanon's fate. Israel undoubtedly has come out the winner in the latest exchange, having killed several key commanders who are said to have played a role in directing Iran's regional network of Arab militias to help Hamas fight Israel in Gaza and help Hezbollah prepare for a potential Israeli attack.

    Israel suffered no fatalities, few injuries and very little damage in the Iranian barrage of over 300 projectiles aimed at military facilities. The US estimates about 140 of the drones and missiles failed due to malfunctions. US forces downed most of the remaining 160 projectiles, with the UK, France, Jordan and Israel's own Iron Dome antimissile system also involved.

  • Top Saudi diplomat says Mideast can’t afford more conflict amid Iran-Israel tensions

    Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan said on Tuesday that the Middle East cannot afford further conflict, amid heightened tensions between Iran and Israel.

    Speaking at a press conference with his Pakistani counterpart during a visit to Islamabad, Prince Faisal urged all parties to prioritize de-escalation.

    Over the weekend, Iran launched hundreds of drones and missiles, including from its own territory, targeting Israel in retaliation for a deadly strike on Iran’s consulate in Damascus on April 1.

  • Opinion: A stunning victory with the shield creates an opening for Israel

    The military confrontation between Israel and Iran will doubtless have more rounds. But a rapid move up the escalatory ladder seemed unlikely after Saturday’s night’s “extraordinary feat of military prowess” by Israel, as the senior administration official called it.

  • Saudi Arabia claims commanding victory over Hong Kong, shakes up standings

    The verdict was in, and the verdict was clear – Saudi Arabia outlasted Hong Kong by 55 runs to slingshot themselves to No. 2 in ACC Premier Cup’s Group A, and demote Hong Kong to No. 4 before its third bout against Nepal at 10 a.m. GST Monday.

  • US restricts travel for diplomats in Israel amid fears of Iran attack

    The United States has restricted travel for its embassy personnel in Israel amid fears of an attack by Iran. The US embassy said staff had been told not to travel outside the greater Jerusalem, Tel Aviv or Beersheba areas "out of an abundance of caution". Iran has vowed to retaliate, blaming Israel for a strike on its consulate in Syria 11 days ago, killing 13 people. Two US officials have told the BBC's US partner CBS News that an attack could come as soon as Friday.

  • Celebrating Eid al-Fitr in Pictures

    Muslims celebrate the Eid al-Fitr holiday marking the end of Ramadan.

  • Israel threatens to retaliate after Turkiye restricts trade ties

    Israel’s foreign minister said that Turkiye has “unilaterally violated” trade agreements with its decision to restrict exports to Israel, and that Israel will respond with its own trade restrictions on products coming from Turkiye, Reuters reports.

    Foreign Minister Israel Katz said that Turkish President Tayyip Erdogan “is again sacrificing the economic interests of the people of Turkiye in order to support Hamas, and we will respond in kind.”

  • Saudi Arabia lowers predicted number of residents at The Line by 2030

    The scaling-back of the project is because Saudi Arabia's sovereign wealth fund hasn't yet approved Neom's 2024 budget, the source said. Bloomberg has previously reported that the wealth fund is trying to find new cash sources to help finance the project. The Line, which was originally announced in 2021, would link the Red Sea coast with the northwest of Saudi Arabia and is the most well-known of the Neom projects, which will cover 26,500 square kilometres in northwestern Saudi Arabia in total.

  • Turkey restricts exports of 54 products to Israel until Gaza cease-fire

    As Israel pledged to retaliate, analysts believe the move is aiming to allay growing dismay among Turkey's Islamists for the government’s refusal to sever trade ties with the Middle Eastern country over the Gaza conflict. Read more: https://www.al-monitor.com/originals/2024/04/turkey-restricts-exports-54-products-israel-until-gaza-cease-fire#ixzz8WuE3JpMi

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