Saudi Arabia and Qatar have agreed to settle Syria's $15 million arrears with the World Bank, allowing the institution to resume grants for the country's reconstruction and support for its public sector.
This move marks Saudi Arabia's first known financial involvement with Syria since the fall of Bashar al-Assad's regime. It is seen as a step toward Gulf Arab support for Syria, which had been delayed due to concerns over U.S. sanctions.
The countries also called for international financial institutions to resume operations in Syria, helping the country access funds for key developmental sectors.
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Saudi Arabia announced $6.4 billion of investments in Syria on Thursday, reflecting the kingdom's deepening ties with interim President Ahmed al-Sharaa's government as it seeks to rebuild Syria after a 14-year civil war.
Syria officially announced the launch of its first-ever investment forum with Saudi Arabia on Wednesday, marking a milestone in bilateral relations and Syria’s efforts to revitalize its economy under the new transitional government.
Iranian Foreign Minister Abbas Araghchi held high-level talks with Saudi Crown Prince Mohammed bin Salman (MBS) in Jeddah on Tuesday, marking the first official visit by a senior Iranian official to the kingdom since Iran’s 12-day war with Israel last month.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Volkswagen cut its 2025 forecast after U.S. tariffs slashed €1.3 billion from profits, but strong EV demand and European sales offer signs of recovery.
The IMF has approved a $625 million loan program for Chad to support economic growth and social spending amid regional and economic challenges.
Volkswagen cut its 2025 forecast after U.S. tariffs slashed €1.3 billion from profits, but strong EV demand and European sales offer signs of recovery.
Saudi Arabia announced $6.4 billion of investments in Syria on Thursday, reflecting the kingdom's deepening ties with interim President Ahmed al-Sharaa's government as it seeks to rebuild Syria after a 14-year civil war.
The Central Bank of Azerbaijan has reduced the refinancing rate from 7.25% to 7%, the interest rate corridor floor from 6.25% to 6%, and the ceiling from 8.25% to 8%.
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