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President Donald Trump’s tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast on Monday, cutting its global economic outlook and warning that a broader trade war would sap growth further. In the case of a generalized trade shock, not only will US households pay a high direct price, but the likely economic slowdown will cost the United States more than the extra income the tariffs are supposed to generate, the Organization for Economic Cooperation and Development estimated in its interim outlook. Global growth is on course to slow slightly…

Reuters Kingdom Holding Company owner Prince Alwaleed Bin Talal, pictured last year at Riyadh’s Kingdom Arena Kingdom Holding Company (KHC), the conglomerate owned by Saudi Arabian Prince Alwaleed Bin Talal, will pay an annual dividend despite a fall in revenues for 2024. The dividend payout will reach SAR1 billion ($267 million), or 2.8 percent of its capital, the investment company said in a statement to the Saudi stock exchange on Monday. Net profit for 2024 rose 22 percent to SAR1.2 billion from SAR1 billion in 2023 due to lower financial charges and higher gain on the sale of investment property.…

Pexels/İrem Dur Inflation in Lebanon rose to more than 300% last year, according to the World Bank IMF team meets government Says poverty ‘exceptionally high’ Highlights banking collapse The Lebanese economy remains severely depressed, its condition exacerbated by a two-month war last year between the Iranian-backed Lebanese Hezbollah group and Israel, in which infrastructure and homes were destroyed, the International Monetary Fund has said. An IMF team visited the country last week and met the new government led by President Joseph Aoun and prime minister Nawaf Salam.  In a report after the visit, the IMF said: “Lebanon’s economy remains severely…

Alamy via Reuters People enjoy Kuwait City’s Marina beach. The IMF says Kuwait’s public sector wages are around 40% higher than private sector wages Within the past few weeks the Kuwaiti government has reaffirmed plans to impose a 15 percent tax on multinational companies and issued a decree to permit government ministries to set their own charges for public services.  Rules governing foreign ownership of real estate are being relaxed and plans have been announced to open the residential mortgage market to local banks, ending the monopoly of the Kuwait Credit Bank. Government departments have been told to reduce delays…

Reuters/Leah Millis President Trump visiting an LNG facility in Louisiana in 2019. US natural gas will have a significant geopolitical impact on the global energy market, especially for the Gulf Since 2016 the US has transformed into the world’s largest LNG exporter, eclipsing Australia and Qatar. Donald Trump is now determined to achieve global energy dominance as he exploits the geopolitical leverage conferred by those exports in his relations with Europe, Asia and the GCC.  The US president has pledged to expand US natural gas production dramatically, rescinded Joe Biden’s environmental pause on new LNG projects, embraced deregulation, and pledged to…

Once the United States has imposed tariffs on its major trading partners it could engage in bilateral talks with countries on new trade arrangements, Secretary of State Marco Rubio said on Sunday. US President Donald Trump threatened on Thursday to slap a 200% tariff on wine, cognac and other alcohol imports from Europe, opening a new front in a global trade war that has roiled financial markets and raised recession fears. Rubio said the United States would retaliate against nations that had imposed tariffs on it. “This is global. It’s not against Canada, it’s not against Mexico, it’s not against…

The Grand Mosque launched the “Answering and Guiding Female Inquirers” program to assist female visitors with religious questions during Ramadan.Makkah, March 17, 2025 – In a significant step to enhance the religious experience of female worshippers during the holy month of Ramadan, the Presidency of Religious Affairs at the Grand Mosque and the Prophet’s Mosque, through its Women’s Affairs Agency, has launched the “Answering and Guiding Female Inquirers” program at the Grand Mosque. This initiative is designed to address the growing number of questions from female visitors, particularly concerning the religious rituals during Ramadan, with special attention to the increased…

KSrelief distributed 613 food baskets to vulnerable families in Adamawa, Nigeria, as part of its Ramadan “Etaam” project.Adamawa, March 17, 2025 – The King Salman Humanitarian Aid and Relief Center (KSrelief) has successfully distributed 613 food baskets to the most vulnerable families in Adamawa State, Nigeria, as part of its ongoing humanitarian efforts during the holy month of Ramadan. The aid, which benefitted 3,678 individuals from 613 families, was part of the 1446H Ramadan “Etaam” Food Basket Distribution Project, a key initiative aimed at providing essential sustenance to those in need across the globe. The food baskets distributed in Adamawa…

China’s State Council unveiled on Sunday what it called a “special action plan” to boost domestic consumption, featuring measures including increasing residents’ income and establishing a childcare subsidy scheme. The plan comes as levels of consumer demand in China have suffered various setbacks in recent years, due to factors such as COVID-19 disruptions and a prolonged property slump, chilling the propensity of households to spend and adding to deflationary trends. The plan was issued to all regions and departments to “vigorously boost consumption, expand domestic demand in all directions, improve consumption capacity by increasing income and reducing burdens,” a report…

The “Sufrat Biennale” in Jeddah offers a unique Ramadan experience blending cultural activities, traditional cuisine, and entertainment.Jeddah, March 17, 2025 – The city of Jeddah is currently hosting a unique and vibrant celebration of Ramadan at the “Sufrat Biennale,” an event that beautifully merges the essence of the holy month with the rich traditions of Arab and Islamic heritage. Set against an ambiance filled with warm lighting and cultural significance, the “Sufrat Biennale” has quickly become a sought-after destination for families and individuals seeking a comprehensive and immersive Ramadan experience. Designed to evoke the spirit of Ramadan, the venue offers…