Putin Praises China as Russia-China Ties Deepen; Saudi Arabia Boosts Economy with Strategic Investments Amid Global Shifts
Saudi Arabia boosts non-oil growth efforts with major investments and rising bank loans, aligning with Vision 2030 goals.
Russian President Vladimir Putin has praised China's stance on Taiwan, reinforcing the growing alliance between Russia and China, although both nations have stopped short of establishing formal military ties. This partnership, lacking military formalities, continues to focus on strategic cooperation following their "no limits" agreement from 2022.
Meanwhile, in the financial realm, Saudi Arabia's central bank cut its benchmark interest rate to boost non-oil sector growth, aligning with global monetary shifts led by the US Federal Reserve. This move is part of a broader regional trend among Gulf states, aiming to enhance economic sectors like construction and real estate, crucial components of Saudi Arabia's Vision 2030.
In an effort to further amplify its economic potential, Saudi Arabia is investing heavily in its startup ecosystem through significant financial infusions and global partnerships. Saudi Venture Capital Co. and BIM Ventures are leading the charge, with the latter securing a massive $2 billion commitment to fuel growth in technology and real estate, spotlighted at the Biban 24 startup event.
Adding to the Kingdom's financial dynamism, Saudi bank loans surged to SR2.85 trillion in September, driven by an increase in corporate and real estate investments, reflecting the demands of Vision 2030 projects like NEOM. This loan growth underscores the country's robust economic activity, particularly in infrastructure and professional sectors.
On the international diplomatic front, tensions have risen between Israel and France after the brief detention of French consulate staff in Jerusalem led to France condemning the act and canceling an official visit. This incident adds to existing strains between the two nations, exacerbated by France's stance on arms exports amidst ongoing regional conflicts.
Lastly, Israeli Prime Minister Netanyahu dispatched rescue planes following antisemitic violence against Israeli fans in Amsterdam during a football match, highlighting serious security concerns. The coordinated response by both Israeli and Dutch leaders underscores a commitment to addressing such acts of violence and ensuring accountability, as the world watches closely.
Meanwhile, in the financial realm, Saudi Arabia's central bank cut its benchmark interest rate to boost non-oil sector growth, aligning with global monetary shifts led by the US Federal Reserve. This move is part of a broader regional trend among Gulf states, aiming to enhance economic sectors like construction and real estate, crucial components of Saudi Arabia's Vision 2030.
In an effort to further amplify its economic potential, Saudi Arabia is investing heavily in its startup ecosystem through significant financial infusions and global partnerships. Saudi Venture Capital Co. and BIM Ventures are leading the charge, with the latter securing a massive $2 billion commitment to fuel growth in technology and real estate, spotlighted at the Biban 24 startup event.
Adding to the Kingdom's financial dynamism, Saudi bank loans surged to SR2.85 trillion in September, driven by an increase in corporate and real estate investments, reflecting the demands of Vision 2030 projects like NEOM. This loan growth underscores the country's robust economic activity, particularly in infrastructure and professional sectors.
On the international diplomatic front, tensions have risen between Israel and France after the brief detention of French consulate staff in Jerusalem led to France condemning the act and canceling an official visit. This incident adds to existing strains between the two nations, exacerbated by France's stance on arms exports amidst ongoing regional conflicts.
Lastly, Israeli Prime Minister Netanyahu dispatched rescue planes following antisemitic violence against Israeli fans in Amsterdam during a football match, highlighting serious security concerns. The coordinated response by both Israeli and Dutch leaders underscores a commitment to addressing such acts of violence and ensuring accountability, as the world watches closely.
