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The Latest Breaking News from Gulf region

4 Gulf Banks Raise Interest Rates by 0.25%, Qatar Holds

The majority of central banks in the Gulf region raised the main interest rates on Thursday, following a decision by the US Federal Reserve to raise its key policy rate by 0.25%, in an effort to counter inflation. Qatar kept the interest rate unchanged, while the Saudi Central Bank (SAMA),…

Asharq Al-Awsat

GCC’s Banks Gross Loans Reach $1.93 Trillion

The aggregate gross loans in the Gulf region reached a new record of $1.93 trillion, and the banking sector in the Gulf countries is witnessing the initial interest rate hike applied by the central banks in the Gulf Cooperation Council (GCC) countries consistent with the US Federal Reserve interest rate…

Asharq Al-Awsat

Data | Pandemic impacted blue-collared Indian migrants in Gulf more than salaried workers in U.S.

Remittance inflows from the Gulf region declined in FY21 compared to FY17, whereas remittance inflows from countries such as the U.S., the U.K., and Singapore, with a higher share of Indian-origin white-collared workers, increased significantly

The Hindu

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Biden arrives in Saudi Arabia after kingdom opens airspace to flights from Israel

The visit to Saudi Arabia is part of Mr Biden’s strategy for “ensuring that there is not a vacuum in the Middle East for China and Russia to fill,” and to show that the US intends to play a “critical role” in the “strategically vital region,” according to Mr Biden’s…

The Independent UK

Lebanese Publishers: Readers Don’t Trust Arabic Books, Prefer Translated Ones

Publishers admit that Arabic readers favor translated books. Every publisher has his own explanation of this phenomenon and the reasons behind it, but they all agree it’s not healthy. According to Rana Idris, owner of Dar Al Adab Publishing, people in the Gulf region are the top buyers of translated…

Asharq Al-Awsat

Worldview with Suhasini Haidar | Prophet comments: Why the diplomatic storm should bother India

In this episode of Worldview, we discuss whether the protests in the Islamic world over comments in India will impact India’s ties with the Gulf region and beyond.

The Hindu

Bahraini Artisans Toil to Preserve Sugar-coated Tradition

Bahrainis with a sweet tooth have long been spoiled for choice between a wide array of dessert franchises, but traditional confectioners still hold their ground, especially during Ramadan. At the back of his modest shop in the capital Manama, Mohammed Gharib stirs a thick mixture of sugar, saffron and freshly…

Asharq Al-Awsat

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Energy Recovery Secures SWRO Contracts Worth $20M In Gulf Region

Energy Recovery, Inc. (NASDAQ:ERII) has received multiple contract awards totaling more than $20 million in the Gulf region for its PX Pressure Exchanger energy recovery devices. The orders are expected to be completed by 4Q23, and the desalination plants will be able to provide over one million cubic meters of water each day…

Benzinga

Family Denounces ‘Show Trial’ of German Held in Iran

The trial of an Iran-born German national jailed in Iran since 2020 is a sham, his family said Monday, accusing Tehran of illegally abducting him abroad while he traveled in the Gulf region. The family of Jamshid Sharmahd, 66, says that he was abducted by the Iranian security services in…

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