Thailand's Youngest Premier Leads New Cabinet; Global Markets See Shifts and Alliances Strengthen
Thailand's King endorses Paetongtarn Shinawatra's cabinet, making her nation's youngest and second female premier. Saudi point-of-sale transactions and UAE's private sector show economic advancements amid global oil price plunge.
Thailand's King Maha Vajiralongkorn has endorsed Prime Minister Paetongtarn Shinawatra's new 36-member cabinet, including 12 new faces. Paetongtarn, at 38, is now Thailand's youngest and second female premier, with her Pheu Thai Party dominating the cabinet.
Meanwhile, in Saudi Arabia, point-of-sale transactions surged by 20.4% between August 25 and 31, with telecommunications showing a remarkable 42% increase. The significant growth also extended to food and beverage, and clothing sectors, with Riyadh leading the cities in transaction volumes.
On the global front, oil prices have plunged to their lowest since December, driven by easing tensions in Libya and weak demand concerns globally. Brent and US crude futures have taken notable dips following Libya’s political resolutions, alongside economic uncertainties in the US and China.
In the UAE, the non-oil private sector has shown signs of recovery in August, with the PMI rising to 54.2 from 53.7 in July, led by international business activity and new orders. However, the rate of hiring growth has slowed, marking the second-slowest expansion in over 18 months.
Over in the UK, former Immigration Minister Robert Jenrick faces backlash for revoking the visa of Palestinian activist Dana Abu Qamar, citing her presence as not conducive to public good. Abu Qamar, after her visa was revoked post her pro-Gaza resistance speech, is now challenging the decision through a human rights appeal.
Finally, Saudi Arabia and Singapore are strengthening ties particularly in sustainability and advanced manufacturing technologies. During a visit, Saudi's Minister of Industry and Mineral Resources Bandar Alkhorayef met Singaporean officials, culminating in the signing of seven MOUs, marking a robust partnership with a trade volume of SR45 billion.
Meanwhile, in Saudi Arabia, point-of-sale transactions surged by 20.4% between August 25 and 31, with telecommunications showing a remarkable 42% increase. The significant growth also extended to food and beverage, and clothing sectors, with Riyadh leading the cities in transaction volumes.
On the global front, oil prices have plunged to their lowest since December, driven by easing tensions in Libya and weak demand concerns globally. Brent and US crude futures have taken notable dips following Libya’s political resolutions, alongside economic uncertainties in the US and China.
In the UAE, the non-oil private sector has shown signs of recovery in August, with the PMI rising to 54.2 from 53.7 in July, led by international business activity and new orders. However, the rate of hiring growth has slowed, marking the second-slowest expansion in over 18 months.
Over in the UK, former Immigration Minister Robert Jenrick faces backlash for revoking the visa of Palestinian activist Dana Abu Qamar, citing her presence as not conducive to public good. Abu Qamar, after her visa was revoked post her pro-Gaza resistance speech, is now challenging the decision through a human rights appeal.
Finally, Saudi Arabia and Singapore are strengthening ties particularly in sustainability and advanced manufacturing technologies. During a visit, Saudi's Minister of Industry and Mineral Resources Bandar Alkhorayef met Singaporean officials, culminating in the signing of seven MOUs, marking a robust partnership with a trade volume of SR45 billion.
