Saudi Press

Saudi Arabia and the world
Tuesday, Jul 15, 2025

Global Shifts: Navalny's Legacy, China's Taiwan Pressure, Saudi Arabia's Fintech Boom, and Middle East Tensions

Navalny's posthumous memoir reveals his expectation of dying in prison. Meanwhile, Erdogan calls for Russia, Syria, and Iran to protect Syria after Israeli strike.
Alexei Navalny, the enduring Russian opposition leader and critic of President Vladimir Putin, anticipated dying in prison, a belief he shared in his memoir published posthumously by The New Yorker.

Meanwhile, tensions rise in Asia as China considers imposing further trade measures against Taiwan after harsh critiques of Taiwanese President Lai Ching-Te's speech that emphasized Taiwan's autonomy while also expressing a willingness to collaborate on issues like climate change.

Over in Europe, relief has followed the successful extinguishing of a fire aboard the German oil tanker Annika off Germany's Baltic Sea coast, where all seven crew members were safely evacuated, and the vessel was stabilized and towed to Rostock.

Shifting focus to the Middle East, Saudi Arabia is making strides as a burgeoning hub for decentralized finance, bolstered by Vision 2030 and active support from the Saudi Central Bank, creating a favorable environment for fintech innovation.

The kingdom's economic diversification efforts are further reflected in its diamond industry, which shines brightly with a projected annual growth rate of 14% as Saudi Arabia becomes a significant global force, exporting $47.2 million in diamonds in 2022.

Finally, tensions in the region prompt Turkish President Tayyip Erdogan to urge Russia, Syria, and Iran to take decisive actions to protect Syria's territorial integrity, especially after an Israeli strike on Damascus, highlighting the urgent need for peace and stability.
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