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The European Union could delay imposition of a first set of counter-measures against the United States over President Donald Trump’s steel and aluminium tariffs until mid-April, European Trade Commissioner Maros Sefcovic said on Thursday. The European Commission had proposed re-imposing tariffs on 4.5 billion euros ($4.9 billion) of US products on April 1, followed by hitting a further 18 billion euros of US goods on April 13, Reuters said. “We are now considering to align the timing of the two sets of EU counter-measures so we can consult with member states on both lists simultaneously, and this would also give…

Almarai is taking part in the second Saudi Food 2024 exhibition, hosted by the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef. The event, in partnership with the Saudi Authority for Industrial Cities and Technology Zones (MODON), runs from May 21 to 23 at Roshn Front in Riyadh, featuring over 1,000 exhibitors from more than 100 countries.   The Minister of Industry visited Almarai’s booth at the exhibition. Company officials greeted him and explained how Almarai enhances consumers’ daily lives with high-quality food and drinks. They also discussed their new five-year investment plan, highlighting their efforts in…

The dollar inched up on Thursday after the Federal Reserve indicated it was in no rush to cut rates further this year due to uncertainties around US tariffs, while the pound slipped ahead of the Bank of England’s policy decision. The Swiss franc weakened slightly after the Swiss National Bank lowered its policy rate to 0.25%, while the Swedish crown was steady after its central bank held rates steady. US policymakers projected two quarter-point interest rate cuts were likely later this year, the same median forecast as three months ago, even as they expect slower economic growth and higher inflation.…

Reuters/Murad Sezer Supporters of Ekrem İmamoğlu gather outside the Istanbul Metropolitan Municipality building to protest against his detention İmamoğlu still in police custody Central bank cushions fall in lira Likely to exacerbate economic stability The detention of a leading opposition figure in Turkey just days before he was to be named as a candidate in presidential elections is likely to set back the country’s campaign against sky-high interest rates and persistent inflation, analysts have warned. Ekram İmamoğlu, the mayor of İstanbul and leading member of the opposition Republican People’s Party, was taken into police custody along with more than 100…

Jon and Vinny’s, a beloved California-based restaurant, is now bringing its famous Italian comfort food to Riyadh through a new partnership with the leading Saudi delivery app, Jahez. This marks the first time Jon and Vinny’s is expanding outside California, offering its signature hearty Italian dishes to diners in the Kingdom. Starting June 3, 2024, residents of Riyadh can enjoy Jon and Vinny’s renowned cuisine delivered right to their homes or workplaces. The menu includes their famous charred leopard crust pizza, homemade pasta, Instagram-worthy desserts, and indulgent breakfast dishes. Notable items include pizza made with 48-hour fermented dough, antipasti boards,…

Alamy via Reuters Connect Mubarakiya souk in Kuwait: lower oil exports and an increase in imports pushed the country’s trade balance down by 18 percent Output and prices both down Surplus falls by 18% Total exports drop by 9% A fall in oil export revenues caused by lower output and a drop in prices pushed Kuwait’s trade surplus down by nearly $8.5 billion in 2024, official data shows. The surplus plunged by more than 18 percent year on year to reflect the country’s heavy reliance on crude sales in its national income and commercial exchanges. Kuwait’s total exports fell by…

Level Shoes is enhancing its top-tier services across major cities with the introduction of a new express delivery service in Riyadh.    Following the success of their ultra-fast delivery in Dubai, UAE, Level Shoes now offers a 2-Hour Delivery service in Riyadh, ensuring customers can shop with maximum convenience.   Customers in Riyadh can enjoy the new 2-Hour Delivery for selected products ordered before 8 PM, with delivery available anywhere in the city, subject to time-slot availability. Additionally, Level Shoes provides hassle-free options for Same-Day Delivery and Next-Day Delivery, available daily from 11 AM to 12 AM.   For more…

Saudi Arabia has mandated event organizers to implement governance rules for hosting events and submit a report to the Events Committee under the Council of Economic and Development Affairs within 30 days of an event’s conclusion, Asharq Al-Awsat has learned. The report must detail the application of governance regulations, challenges encountered, and recommendations for improvement. The kingdom hosts numerous events throughout the year as part of efforts to expand its exhibitions and conferences sector. The initiative aims to enhance the industry, attract global events, promote Saudi Arabia’s unique opportunities and advantages, and reinforce its leadership in the international exhibitions and…

Reuters/Faisal Al Nasser Umm Al Qura is the latest in a series of companies to list shares on the Saudi exchange this year Shares of Umm Al Qura for Development and Construction (Umm Al Qura), the developer of Masar, a massive mixed-use project in the holy city of Mecca, will start trading on the Saudi stock exchange next week. The stock will be subject to a daily and static price fluctuation limit of plus or minus 30 percent and plus or minus 10 percent, respectively, the Saudi Exchange said in a statement. Umm Al Qura becomes the latest in a series…

Alamy US respect matters for Crown Prince Mohammed Bin Salman while he solidifies his position as Saudi heir apparent Donald Trump’s approach to policy is often described as transactional: he is a tough New York dealmaker, not a politician from the Washington swamp.  Yet the president’s rhetoric thus far when it comes to international economic relationships – from Mexico to the EU – has come across as more narrowly focused than supportive of mutually beneficial agreements. Robert Mogielnicki, a scholar at the Arab Gulf States Institute in Washington, says that the second coming of Trump’s “Make America Great Again” platform…