Biden's military aid to Egypt faces backlash over human rights record

SEOUL, September 13 (AJP) - The Biden administration has decided to release $320 million in military aid to Egypt, despite the funds being previously linked to the country's human rights improvements. This brings the total U.S. military assistance to Egypt for the year to $1.3 billion, making Egypt the second-largest recipient of such aid after Israel. The decision, announced to Congress, was made after Secretary of State Antony Blinken used his authority to approve the aid, inc

September 13, 2024

Saudi Arabia, China push for deeper collaboration in energy and trade

SEOUL, September 12 (AJP) - Chinese Premier Li Qiang and Saudi Arabia's Crown Prince Mohammed Bin Salman met in Riyadh on Wednesday to discuss cooperation in key sectors including energy, investment, and trade. Premier Li also pushed for progress on free trade negotiations between China and the Gulf Cooperation Council (GCC), which includes Saudi Arabia and the UAE. GCC Secretary General Jasem al-Budaiwi stressed the importance of completing these trade discussions soon. However

September 12, 2024

Gulf stocks slide due to weaker oil and US inflation concerns

SEOUL, September 12 (AJP) - Most Gulf stock markets declined on Wednesday, weighed down by falling oil prices and investor anticipation of key U.S. inflation data that could impact the Federal Reserve's potential interest rate cut next week. OPEC revised its global oil demand growth forecast for 2024 downward on Tuesday, citing data from this year. This marked the second consecutive reduction in OPEC's outlook. A significant factor behind the revision was China, with OPEC cu

September 12, 2024

Egypt's urban inflation hits 26.2% in August

SEOUL, Sept. 11 (AJP) - Egypt's annual urban inflation rate rose unexpectedly to 26.2 percent in August, up from 25.7 percent in July, according to CAPMAS data. On a monthly basis, prices increased by 2.1 percent, a sharper rise compared to the 0.4-percent growth in July. Food prices, which had decreased by 0.3 percent in July, jumped by 1.8 percent in August and were 29-percent higher than the previous year. Analysts had forecasted inflation to ease to a median of 25.1 perce

September 11, 2024

Lebanon's ex-central bank governor remain jailed amid embezzlement charges

SEOUL, September 11 (AJP) - A Lebanese judge ruled that Riad Salameh, the former central bank governor, will remain in custody as he faces charges of embezzling $42 million from state funds. Salameh was detained last week after being questioned by Lebanon's top prosecutor on several financial crimes. He has maintained his innocence throughout. Judge Bilal Halawi issued an arrest warrant for Salameh, ensuring he stays behind bars while the trial proceeds. Judicial officials alleg

September 11, 2024

Erdogan calls for Islamic unity against Israel's aggression in Gaza, Jerusalem

SEOUL, September 10 (AJP) - Turkish President Tayyip Erdogan has urged the Organisation of Islamic Cooperation (OIC) to convene an emergency summit to address the Gaza conflict and what he called Israel’s attacks on Jerusalem. Erdogan, a strong critic of Israel’s actions in Gaza against Hamas, called on Islamic nations to unite against what he described as Israel's "expansionism." Speaking after a cabinet meeting in Ankara, Erdogan accused Israel o

September 10, 2024

UAE, Indian oil firms sign major LNG agreement

SEOUL, September 10 (AJP) - The Abu Dhabi National Oil Company (ADNOC) has finalized a 15-year contract to provide Indian Oil with 1 million metric tons of liquefied natural gas (LNG) per year, as reported by the Abu Dhabi Media Office on Monday. Most of the LNG will be sourced from ADNOC's Ruwais LNG project, according to the government media office. ADNOC has significant plans in the gas and LNG sectors, alongside renewable energy and petrochemicals, which it sees as key dr

September 10, 2024

Qatar makes its debut at Gwangju Biennale

SEOUL, September. 09 (AJP) - Qatar Museums has launched its first Qatar Pavilion at the 15th Gwangju Biennale, the oldest contemporary art event in South Korea. Curated by the National Museum of Qatar (NMoQ), it marks the first time an Arab nation has presented a standalone pavilion at the Biennale. The opening ceremony was attended by notable figures, including Gwangju's Mayor Kang Gi-jung, Gwangju Biennale Foundation President Yang-Woo Park, and Abdulaziz Al Thani, Directo

September 9, 2024

Dubai Metro keeps fueling the residential and commercial boom

SEOUL, September. 09 (AJP) - Over the last 15 years, Dubai’s Metro has evolved beyond simple transportation, becoming a driving force behind the city's growth and livability, particularly in emerging areas. The rapid development of new residential and commercial hubs highlights this transformation, with the Metro playing a central role. A report by consultancy CBRE notes that developments with strong urban infrastructure and proximity to the Metro are outperforming other

September 9, 2024