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Greece to Bring in Egyptian Farm Workers Amid Labor Shortage

FILE PHOTO: Passengers of a flight from Amsterdam arrive at the international airport in Athens, Greece, June 15, 2020. REUTERS/Alkis Konstantinidis/File Photo
FILE PHOTO: Passengers of a flight from Amsterdam arrive at the international airport in Athens, Greece, June 15, 2020. REUTERS/Alkis Konstantinidis/File Photo
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Greece to Bring in Egyptian Farm Workers Amid Labor Shortage

FILE PHOTO: Passengers of a flight from Amsterdam arrive at the international airport in Athens, Greece, June 15, 2020. REUTERS/Alkis Konstantinidis/File Photo
FILE PHOTO: Passengers of a flight from Amsterdam arrive at the international airport in Athens, Greece, June 15, 2020. REUTERS/Alkis Konstantinidis/File Photo

Greece will start bringing in workers from Egypt this summer to take on temporary farming jobs under a deal between the countries to tackle a labor shortage, the migration ministry said on Friday.
After a decade of pain, the Greek economy is forecast to grow nearly 3% this year, far outpacing the euro zone average of 0.8%, Reuters reported.
But an exodus of workers during Greece's economic crisis, a shrinking population and strict migration rules have left the country struggling to find tens of thousands of workers to fill vacancies in farming, tourism, construction and other sectors.
Greece will take in around 5,000 seasonal farm workers under the 2022 deal signed with Egypt.
The countries have discussed expanding the "mutually beneficial" scheme to the Greek construction and tourism sectors, the Greek Migration Ministry said in a statement.

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Business

Gold Price Surge Helps Swiss National Bank Make $33 Billion Profit

(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
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Gold Price Surge Helps Swiss National Bank Make $33 Billion Profit

(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)

The Swiss National Bank made a profit of around 26 billion Swiss francs ($32.52 billion) in 2025, the central bank said on Friday, thanks to big increases in gold prices as investors headed for safe-havens assets last year.

The provisional figures were a decline from the record 80.7 billion franc profit the SNB made in 2024, ‌but were ‌still in the top ‌five ⁠profits the ‌central bank has made in its 119-year history

The SNB's 2025 profit was boosted by a 36.3 billion franc valuation gain in its gold holdings, as investors bought the precious metal to protect them from the ⁠global economic turmoil unleashed by US President Donald Trump's ‌tariffs.

The figure was the ‍biggest ever profit ‍the SNB has made from gold, helped ‍by the precious metal gaining 64% in value in 2025, boosting the value of the 1,040 metric tons of gold it holds.

The central bank's profits, however, were held back by a 9 billion franc ⁠loss on its foreign currency positions.

The overall annual profit figure was in line with the 23.5 billion francs to 28.5 billion francs forecast by UBS.

As a result, the SNB will be able to make a payout of 4 billion francs to the Swiss central government and cantonal governments, and a dividend of 15 ‌francs per share to investors.

Business

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia
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New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

Aramco Digital, the technology subsidiary of Saudi Aramco, is set to launch the Kingdom’s national industrial communications network operating in the 450 MHz band. Designed to deliver secure, highly reliable industrial connectivity across Saudi Arabia, the network will support sectors that require continuous operations and dependable communications for critical assets and facilities.

As part of the launch, Aramco Digital will introduce a comprehensive portfolio of 450 MHz-based industrial digital solutions, including tailored connectivity packages for various sectors and a new generation of smart radios developed specifically for demanding industrial environments, SPA reported.

These smart radios combine rugged, industrial-grade design with advanced capabilities such as AI, enhanced sensing technologies, extended battery life through improved energy efficiency, and real-time data processing at the device level. Together, these features will support operational accuracy, reliability, and continuity in complex operating conditions.

The network will enable a broad range of Industrial Internet of Things (IIoT) applications, including asset condition and performance monitoring, fleet and equipment tracking, air quality and environmental sensing, smart video surveillance, smart metering, lighting and infrastructure control, and industrial mobility and fleet management solutions. These capabilities will enhance operational transparency, support automation, and improve efficiency across both industrial and service sectors.

The network is intended to underpin the Kingdom’s next phase of industrial development and support the objectives of Saudi Vision 2030. By providing a highly reliable national communications infrastructure, the network will enable advanced automation, intelligent systems, and digital services in vital sectors.

Business

Oil Rises as Market Focuses on Venezuela and US Sanctions Plans

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
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Oil Rises as Market Focuses on Venezuela and US Sanctions Plans

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev

Oil prices rose on Thursday after two days of declines as investors assessed Venezuela developments and reports on progress of proposed US sanctions legislation against countries doing business with Russia.

Brent crude futures were up 59 cents, or 0.98%, at $60.55 a barrel by 1038 GMT. US ‌West Texas Intermediate ‌crude gained 58 cents, or 1%, ‌to $56.57.

Higher ⁠prices ​are ‌led by the US President allowing the Russia sanctions bill to advance, as it raises fears of further disruption to Russian oil exports, said PVM analyst Tamas Varga. Republican Senator Lindsey Graham said on Wednesday that Trump had given the green light on the legislation, adding that the bill could be put ⁠to a vote as early as next week.

Both benchmarks fell more than ‌1% for a second day on Wednesday, ‍with market participants expecting ‍abundant global supply this year. Analysts at Morgan Stanley forecast ‍a surplus of as much as 3 million barrels per day in the first half of 2026. US gasoline and distillate stocks increased by more than analyst expectations in the week ended January ​2, while crude stocks fell, the Energy Information Administration said on Wednesday. On Tuesday, Washington announced a deal with ⁠Caracas to gain access to up to $2 billion of Venezuelan crude. The deal initially could require the rerouting of cargoes that were bound for China, sources told Reuters. Chinese independent refiners that consume much of the country's Venezuelan imports could switch to Iranian oil to make up the shortfall. The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one sailing under Russia's flag, as part of President Donald Trump's aggressive push to dictate oil flows in the Americas and force ‌Venezuela's socialist government to become an ally.