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Chinese Investors Briefed on Industrial, Mining Investment Opportunities in Saudi Arabia

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef met with Chinese investors in Shanghai.
Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef met with Chinese investors in Shanghai.
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Chinese Investors Briefed on Industrial, Mining Investment Opportunities in Saudi Arabia

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef met with Chinese investors in Shanghai.
Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef met with Chinese investors in Shanghai.

The Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef met with Chinese investors in Shanghai, where they discussed investment opportunities available in the Kingdom in mining and industry sectors.
President of the Royal Commission for Jubail and Yanbu Khalid Al-Salem, Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer, and leading officials of the industry and mining sectors attended the meeting, said SPA.
Interlocutors previewed the prominent investment opportunities provided by the Kingdom in the industrial and mining sectors.
The Saudi side highlighted the goals of the National Strategy for Industry and the opportunities provided in various industrial sectors.
The meeting examined the measures, initiatives and incentives provided by the ministry to create an attractive investment environment, remove obstacles for investors, and offer the required facilitations.
The Saudi officials spoke about the goals of the Saudi Vision 2030 in the mining sector and the opportunities it provides for investors worldwide in mineral exploration and investment opportunities.
The Saudi side highlighted the mining investment system in the Kingdom and the goals of the mining strategy.
Alkhorayef made the official visit to the People's Republic of China to strengthen the economic partnership in the industrial and mining sectors.
The visit also seeks to review the qualitative investment opportunities between the two countries and brief the Chinese side on the Kingdom's initiatives to enhance the strategic sectors of industry and mining.

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IMF Unlocks Around $2.3 Billion for Egypt

Thousands of Muslim students break their fast during the Muslim holy fasting month of Ramadan, at a free meal distributing point in Al-Azhar mosque in Cairo, Egypt, Wednesday, Feb. 25, 2026. (AP Photo/Ahmed Yosri )
Thousands of Muslim students break their fast during the Muslim holy fasting month of Ramadan, at a free meal distributing point in Al-Azhar mosque in Cairo, Egypt, Wednesday, Feb. 25, 2026. (AP Photo/Ahmed Yosri )
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IMF Unlocks Around $2.3 Billion for Egypt

Thousands of Muslim students break their fast during the Muslim holy fasting month of Ramadan, at a free meal distributing point in Al-Azhar mosque in Cairo, Egypt, Wednesday, Feb. 25, 2026. (AP Photo/Ahmed Yosri )
Thousands of Muslim students break their fast during the Muslim holy fasting month of Ramadan, at a free meal distributing point in Al-Azhar mosque in Cairo, Egypt, Wednesday, Feb. 25, 2026. (AP Photo/Ahmed Yosri )

The International Monetary Fund (IMF) has unlocked around $2.3 billion for Egypt after its latest program reviews, it said on Wednesday.

Egypt secured an expanded $8 billion package over nearly four years from the IMF in March 2024, contingent on a series of economic reforms.

In March last year, the global lender approved a new loan worth $1.3 billion for Egypt.

After completing the fifth and sixth reviews of the Extended Fund Facility, the IMF said on Wednesday around $2 billion will be unlocked for Egypt.

It will be able to draw an extra $273 million under the Resilience and Sustainability Facility (RSF) after the first review was completed, the IMF said in a statement.

"Egypt's macroeconomic situation has improved amid sustained stabilization efforts," it said. "A broad-based economic recovery has lifted real GDP growth to 4.4 percent in FY2024/25 while inflation declined markedly to 11.9 percent in January 2026, supported by tight monetary and fiscal policies."

"The current account deficit narrowed further to 4.2 percent of GDP, reflecting strong remittances and tourism receipts, while market confidence continued to improve, as evidenced by successful external issuances, foreign direct investment inflows, and record nonresident inflows into domestic debt markets."

"Tight monetary and fiscal policies together with exchange rate flexibility have helped restore macroeconomic stability, reduce inflation, and strengthen the external position."

But the IMF warned that structural reforms under the program have been "uneven.”

"Efforts to reduce the state's footprint, particularly progress on the divestment agenda, have been slower than envisaged, while high public debt and elevated gross financing needs continue to constrain fiscal space and weigh on medium-term growth prospects," the IMF added.

Business

IMF Urges US to Work with Partners to Ease Trade Restrictions

FILE PHOTO: US President Donald Trump shakes hands with US Vice President J.D. Vance as US House Speaker Mike Johnson (R-LA) applauds during Trump's State of the Union Address in the House Chamber at the US Capitol in Washington, D.C., US, February 24, 2026. REUTERS/KEVIN LAMARQUE/File Photo
FILE PHOTO: US President Donald Trump shakes hands with US Vice President J.D. Vance as US House Speaker Mike Johnson (R-LA) applauds during Trump's State of the Union Address in the House Chamber at the US Capitol in Washington, D.C., US, February 24, 2026. REUTERS/KEVIN LAMARQUE/File Photo
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IMF Urges US to Work with Partners to Ease Trade Restrictions

FILE PHOTO: US President Donald Trump shakes hands with US Vice President J.D. Vance as US House Speaker Mike Johnson (R-LA) applauds during Trump's State of the Union Address in the House Chamber at the US Capitol in Washington, D.C., US, February 24, 2026. REUTERS/KEVIN LAMARQUE/File Photo
FILE PHOTO: US President Donald Trump shakes hands with US Vice President J.D. Vance as US House Speaker Mike Johnson (R-LA) applauds during Trump's State of the Union Address in the House Chamber at the US Capitol in Washington, D.C., US, February 24, 2026. REUTERS/KEVIN LAMARQUE/File Photo

The IMF on Wednesday called on the United States to work with trading partners and find ways to mutually ease trade curbs, as it issued a review of the world's biggest economy.

The International Monetary Fund's findings covered the first year of Donald Trump's second presidency, in which he unleashed wide-ranging tariffs on allies and competitors alike as he sought to shrink the US trade deficit and boost domestic manufacturing.

But his on-again, off-again tariffs have roiled supply chains and financial markets, said AFP.

During the year, the Trump administration also sought to lower reliance on unauthorized immigrant workers and reduce the federal government's role in the economy, the IMF noted.

But the fund said Wednesday that Washington should work constructively with partners "to address concerns over unfair trade practices and agree on a coordinated reduction in trade restrictions and industrial policy distortions that have negative cross-border effects."

"Where trade and investment measures (including tariffs and export controls) are put in place for national security reasons, such policies should be applied narrowly," it urged.

IMF chief Kristalina Georgieva told journalists that the report was prepared before the Supreme Court struck down many of Trump's tariffs last Friday, adding that it would digest this development.

Since the ruling, Trump has tapped a different law to impose a new 10-percent global tariff, which he also threatened to hike to 15 percent.

Georgieva met with Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell before the report's release.

She noted that the fund shares the Trump administration's concern about the size of the US trade and current account deficit. She added that the country's current account gap is "too big."

- 'Stability risk' -

The continuing rise in public debt also "remains a major issue" to keep in mind, Georgieva said.

The IMF said that "while the risk of sovereign stress in the US is low, the upward path for the public debt-GDP ratio and increasing levels of short-term debt-GDP represent a growing stability risk to the US and global economy."

Overall, the fund projects US GDP growth to come in at 2.6 percent in 2026, picking up from 2.2 percent last year.

While the economy is "buoyant," the IMF warned that "uncertainty around trade policies could represent a larger-than- expected drag on activity."

It noted in the concluding statement of its "Article IV" consultation that the country saw "continued strong productivity growth even though the government shutdown took a bite out of activity in the fourth quarter."

The IMF last issued US-related policy suggestions in 2024.

At that time, it raised concern over growing trade restrictions under then-president Joe Biden's administration, urging officials to unwind obstacles to free trade.

The fund in 2024 also pushed for a reversal in the rise in public debt, noting that officials could raise taxes among other reforms.

Business

Saudi Council of Economic Affairs Reviews Local and Global Developments

The Saudi Council of Economic and Development Affairs discussed several issues, including the Ministry of Economy and Planning's quarterly report (SPA)
The Saudi Council of Economic and Development Affairs discussed several issues, including the Ministry of Economy and Planning's quarterly report (SPA)
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Saudi Council of Economic Affairs Reviews Local and Global Developments

The Saudi Council of Economic and Development Affairs discussed several issues, including the Ministry of Economy and Planning's quarterly report (SPA)
The Saudi Council of Economic and Development Affairs discussed several issues, including the Ministry of Economy and Planning's quarterly report (SPA)

The Saudi Council of Economic and Development Affairs has held a videoconference, reviewing the Ministry of Economy and Planning's quarterly report, which covered developments in the global economy and the impact of geopolitical challenges and fluctuations in global markets on growth prospects.

The report also addressed the latest economic developments in the Kingdom and future projections through 2027, highlighting the economy's high resilience in the face of global challenges.

Economic indicators point to remarkable growth, reinforcing the Kingdom’s position among the world's fastest-growing and most stable economies.

The council also reviewed the report on the performance of the state’s general budget for the fourth quarter of fiscal year 2025, submitted by the Ministry of Finance.

The report provided a comprehensive overview of financial performance during the period, including developments in revenues and expenditures and levels of public debt.

The findings highlighted the continued adoption of a balanced and flexible fiscal policy that supports economic growth and strengthens financial sustainability in the medium and long term.

Moreover, the council discussed a number of procedural matters, including the draft Government Tenders and Procurement Law, the draft Space Law, and a briefing on the assignment given to the Council of Universities’ Affairs to update the necessary regulations for the governance of public and private universities and health colleges, as well as to oversee and monitor them periodically. The update also covers compliance processes at public and private universities and health colleges, in line with quality standards approved by the Council of Universities’ Affairs.

The council was also briefed on the quarterly report of the Real Estate Price Index, along with summaries of the monthly Consumer Price Index (CPI) and Wholesale Price Index (WPI) reports, and the core reports on which the summaries were based.

The council took the necessary decisions and recommendations on these matters.