Jordan's Economic Resilience and Saudi Arabia's Ambitious Growth Initiatives Amid Global Developments
Jordan's foreign reserves hit $20.23 billion, boosting economic outlook as Saudi Arabia sees a 50% surge in foreign investments.
Jordan's foreign reserves surged to $20.23 billion by the end of September, boosted by increased gold reserves and lowered foreign currency liabilities, allowing the nation to cover 8.1 months of imports. While inflation has eased to an average of 1.7% in the first half of the year, S&P Global has upgraded Jordan's long-term currency rating to a "B+", setting a positive economic tone for the country.
On a global front, Saudi Arabia is pushing for enhanced international cooperation to drive sustainable growth, as highlighted during crucial meetings in Washington. Finance Minister Mohammed Al-Jadaan, who is set to chair the International Monetary and Financial Committee from 2024 to 2027, has been actively engaging with leaders like IMF Managing Director Kristalina Georgieva to discuss these vital economic strategies.
Turning to more good news from Saudi Arabia, the country's foreign direct investment has soared by 50% in 2023, surpassing Vision 2030 targets. This impressive growth, reaching SR96 billion, demonstrates Saudi Arabia's significant progress and strong international partnerships, with major contributions from the US and UAE leading the way.
Additionally, Saudi Arabia is set to standardize USB-C charging ports for electronics by January 2025, a move aimed at reducing e-waste. This initiative promises to cut electronic waste by 15 tons annually and save SR170 million each year, underscoring the country's commitment to sustainability and consumer convenience.
Shifting to a somber development, an Israeli airstrike in Beirut reportedly killed key Hezbollah figures, including Hashem Safieddine, a successor to the late Hassan Nasrallah. With Israel and Hezbollah having a tumultuous relationship, this strike marks another chapter in the ongoing hostilities between the two, though Hezbollah has yet to confirm Safieddine's death.
In U.S. political news, former White House Chief of Staff John Kelly has criticized Donald Trump over comments that allegedly praised the loyalty of Adolf Hitler's generals. Kelly, who served under Trump, expressed concerns about Trump's authoritarian leanings, highlighting ongoing tensions in American political discourse.
On a global front, Saudi Arabia is pushing for enhanced international cooperation to drive sustainable growth, as highlighted during crucial meetings in Washington. Finance Minister Mohammed Al-Jadaan, who is set to chair the International Monetary and Financial Committee from 2024 to 2027, has been actively engaging with leaders like IMF Managing Director Kristalina Georgieva to discuss these vital economic strategies.
Turning to more good news from Saudi Arabia, the country's foreign direct investment has soared by 50% in 2023, surpassing Vision 2030 targets. This impressive growth, reaching SR96 billion, demonstrates Saudi Arabia's significant progress and strong international partnerships, with major contributions from the US and UAE leading the way.
Additionally, Saudi Arabia is set to standardize USB-C charging ports for electronics by January 2025, a move aimed at reducing e-waste. This initiative promises to cut electronic waste by 15 tons annually and save SR170 million each year, underscoring the country's commitment to sustainability and consumer convenience.
Shifting to a somber development, an Israeli airstrike in Beirut reportedly killed key Hezbollah figures, including Hashem Safieddine, a successor to the late Hassan Nasrallah. With Israel and Hezbollah having a tumultuous relationship, this strike marks another chapter in the ongoing hostilities between the two, though Hezbollah has yet to confirm Safieddine's death.
In U.S. political news, former White House Chief of Staff John Kelly has criticized Donald Trump over comments that allegedly praised the loyalty of Adolf Hitler's generals. Kelly, who served under Trump, expressed concerns about Trump's authoritarian leanings, highlighting ongoing tensions in American political discourse.
