Saudi Press

Saudi Arabia and the world
Friday, Sep 27, 2024

American Renounces Citizenship in Moscow Court Amid Complex Geopolitical and Economic Developments

Joseph Tater renounces US citizenship, seeks asylum in Russia amid assault charges and CIA allegations.
Joseph Tater, an American, has renounced his US citizenship in a Moscow court, claiming political persecution. Seeking asylum in Russia, he faces allegations of assaulting a police officer there and claims the CIA killed his mother and falsely charged him in the US.

Meanwhile, the retail sector in the GCC is set to surge by 4.6% annually from 2023 to 2028, largely driven by Saudi Arabia and the UAE. Retail sales are expected to grow from $309.6 billion in 2023 to $386.9 billion by 2028, fueled by factors such as rising populations and increased tourism.

In other news, Saudi Arabia is setting ambitious environmental goals as it prepares for COP16, hosting its first Advisory Council meeting during the UN General Assembly. Scheduled for December in Riyadh, key initiatives include reducing carbon emissions, planting 50 billion trees, and boosting renewable energy to 50% by 2030.

On the financial front, Saudi Arabia’s Tadawul All Share Index (TASI) saw a rise, closing at 12,374.30 points. Notable movements included Riyad Bank's issuance of sustainable capital sukuk in US dollars and approvals for capital increases from Salama Cooperative Insurance Co. and Nice One Beauty Digital Marketing Co.

Additionally, Saudi and Jordanian Ministers have signed an agreement to bolster efforts against drug trafficking. This cooperation was highlighted during a meeting in Riyadh, attended by senior officials from both countries, focusing on combating the smuggling of narcotics and related substances.

Finally, Dr. Nasser Abaalkhail of Saudi Arabia has been elected as president of the GlobE Network for the 2025-2027 term. During a meeting in Beijing, Abaalkhail's leadership in anti-corruption was recognized, continuing Saudi Arabia’s significant contributions to the global fight against corruption.
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