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World Bank President: The war's repercussions are "cascading" even if the ceasefire holds
SadaNews Economy - World Bank President Ajay Banga warned that the war in the Middle East will have a cascading impact on the global economy, even if the fragile ceasefire declared by U.S. President Donald Trump is upheld.
Banga's remarks come ahead of the annual meetings, and in an interview with...
Syria and Turkey Near Direct Banking Channel and Currency Exchange Agreement
SadaNews Economy - Syria is nearing a deal with Turkey to establish a correspondent banking account between the central banks of the two countries, in a move aimed at facilitating cross-border payments and enhancing trade, while exploring a potential mechanism for currency exchange between the two s...
Saudi Arabia: Operations Halted at Several Energy Facilities Due to Recent Targeting
SadaNews Economy - A responsible source at the Saudi Ministry of Energy stated on Thursday evening that vital energy facilities in the Kingdom have recently been subjected to multiple attacks, including oil and gas production, transportation and refining facilities, petrochemical facilities, and the...
البنك الدولي: نمو اقتصاد السعودية الأسرع خليجياً وتراجع متوقع للعجز رغم حرب إيران
Impact of Iran's War Drives Inflation in Egypt to 15.2%
SadaNews - Inflation in Egypt continued to accelerate for the second consecutive month, influenced by the war in Iran which led to an increase in energy prices and a decline in the value of the pound, at a time when the country faces a widespread wave of inflation affecting most goods and services....
Royal Jordanian: Raising Ticket Prices to Combat Rising Fuel and Operating Costs
SadaNews - Royal Jordanian Airlines announced that it has raised ticket prices "similar to global airlines" due to the increase in fuel prices and changes to flight routes, amidst the operational challenges facing the aviation sector in the region as a result of tensions in the Middle East.
The com...
World Bank: The War in the Middle East Has Caused Severe Economic Losses
SadaNews - The World Bank has announced that the war in the Middle East has led to "severe and immediate economic losses", particularly due to the closure of the Strait of Hormuz, the destruction of energy infrastructure, and rising price levels, which have resulted in a decline in growth opportunit...
Gold Stabilizes After Gains Amid Expectations of Iran War Path
SadaNews - Gold stabilized after two days of gains, as traders assessed the prospects of reaching a diplomatic solution to the Iran war, even as intermittent clashes threatened to undermine a fragile ceasefire.
Bullion was near $4,715 per ounce, having risen by 1.5% over the previous two sessions....
The Egyptian Arab Land Bank Ends Its Operations in Jordan
SadaNews - The Egyptian Arab Land Bank - Jordan announces the termination of all its operations in Jordan and the permanent cessation of its services, including branches, electronic channels, and ATMs.
This follows the acquisition of all of the Egyptian Arab Land Bank's operations in Jordan b...
Gulf Stock Markets Surge After Ceasefire in Iranian War
SadaNews - Stock markets in the Gulf rose in early trading on Wednesday following the announcement of a temporary ceasefire between the United States and Iran, granting markets a period of calm after sharp disruptions fueled by the conflict in the Middle East.
The main Saudi Stock Market Index "TAS...
How long will it take for the global economy to recover?
SadaNews - The global economy is witnessing the features of a complex phase of rebalancing, as the shocks of war leave long-term effects that do not cease with the end of conflicts but rather persist for varying periods, impacting economic growth forecasts.
In this context, policymakers are facing...
Asian Stocks Jump to Three-Week High After Iran War Ceasefire
SadaNews - Oil prices fell at their largest pace in nearly six years, while Asian stocks jumped after the United States and Iran agreed to a two-week ceasefire, providing markets with a respite from the turmoil caused by the conflict in the Middle East.
West Texas Intermediate crude dropped by as m...