Riyadh

August 15, 2024 5:35 PM

Indian Embassy in Riyadh Commemorates 78th Independence Day with Community Celebration

The Indian Embassy in Riyadh marked the 78th Independence Day of India with a grand celebration on Thursday. The event was attended by over 500 people, including Embassy officials, journalists, and members of the Indian community. The festivities began with the hoisting of the Indian tricolor by Ambassador Dr. Suhel Ajaz Khan, who also delivered the President's message to the nation. In his address, the Ambassador highlighted the growing ties between India and Saudi Arabia and extended best w...

June 3, 2024 4:31 PM

OPEC+ extends oil output cuts into 2025

OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production. Brent crude oil prices have been trading near $80 per barrel in recent days, below what many OPEC+ members need to balance their budgets. Worries over slow demand growth in top oil importer China have weighed on prices alongside rising oil stocks in developed economies. The Organization of the ...

April 30, 2024 12:08 PM

IMF bailout proved important to save Pakistan from default, PM Sharif says

The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3 billion standby arrangement with the IMF which it secured last summer to help avert a sovereign default. "The disbursement will bring more economic stability in Pakistan," Sharif said in a statement from his office, a...

April 28, 2024 2:46 PM

Global Leaders Gather in Riyadh for World Economic Forum Summit

Final preparations took place at the Ritz-Carlton in Riyadh ahead of the World Economic Forum (WEF) summit starting Sunday (April 28), where world leaders will convene for a special meeting on global collaboration, growth and energy for development. Over 1,000 leaders from around the world are attending the two-day event to discuss topics that will include "urgent challenges" in the geopolitical and economic environment, including ongoing geopolitical tensions in the Middle East, according ...