Greek Prime Minister: We Have a Strategic Relationship with Gulf States

Saudi Crown Prince Mohammed bin Salman and the prime minister of Greece in Riyadh on Tuesday. (SPA)
Saudi Crown Prince Mohammed bin Salman and the prime minister of Greece in Riyadh on Tuesday. (SPA)
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Greek Prime Minister: We Have a Strategic Relationship with Gulf States

Saudi Crown Prince Mohammed bin Salman and the prime minister of Greece in Riyadh on Tuesday. (SPA)
Saudi Crown Prince Mohammed bin Salman and the prime minister of Greece in Riyadh on Tuesday. (SPA)

Greek Prime Minister Kyriakos Mitsotakis stressed that his country’s relations with Saudi Arabia and the Gulf were strategic, pointing to common geopolitical challenges.

He emphasized that his government’s foreign policy priority was to establish solid ties with the Gulf, saying: “We have now entered into a strong strategic relationship, as we share many common economic and social factors.”

Mitsotakis’ remarks came during a dialogue session on Tuesday at the Future Investment Initiative forum, in the presence of Saudi Crown Prince Mohammed bin Salman, and Crown Prince of Bahrain Sheikh Salman bin Hamad Al Khalifa.

The premier touched on the agreements signed by his country with France and the United States, as well as efforts to provide oil and gas to Europe through Greece.

Moreover, he also stressed that Cyprus’ alliance with Egypt and Israel does not pose a threat to Turkey, saying: “We have security and there are no threats in the eastern Mediterranean. We have alliances and we are joining alliances clearly, and I hope at some point Turkey will have a positive engagement with us.”

“All outstanding problems with Egypt and Italy have been resolved in accordance with international law… We are open to dialogue and will not compromise our interests,” he added.

Abdullah Al-Sawaha, Saudi Minister of Communications and Information Technology, said the Kingdom has made great strides towards digital and knowledge economy, especially during its presidency of the G20.

“We are turning to digital transformation in order to protect the planet and empower people. We are working with global innovators and taking advantage of satellite images and artificial intelligence to reduce carbon emissions and preserve the environment,” the minister said during Tuesday’s session.

Nadhmi Al-Nasr, CEO of NEOM, said that the giant project, launched by the Saudi Crown Prince in 2016, was rolling at a fast pace.

“There was a vision for NEOM, and the mission was clear to turn the dream into a reality. We took over the task and then continued the journey to introduce NEOM in different ways. NEOM is basically found to be an independent economy that will rely on 16 sectors, and will have its own laws and legislation,” he said.

Al-Nasr added that nine years were left to translate the NEOM project into reality. This is a task that requires great efforts, as he described it.

“One day we will surprise the world with happy news that NEOM is operating faster than we expected,” he remarked.



Russia’s Inflation Reaches 9.5% This Year, Weekly Data Shows

 Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)
Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)
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Russia’s Inflation Reaches 9.5% This Year, Weekly Data Shows

 Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)
Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)

Russia's inflation has reached 9.5% this year, according to new weekly data showing that the consumer price index rose by 0.33% in the week leading up to Dec. 23, the statistical agency Rosstat reported on Wednesday.

This data follows the central bank's unexpected decision last week to maintain its key interest rate at 21%. The regulator said recent tightening has created conditions conducive to reducing inflation towards its target of 4%.

The agency indicated that seasonally volatile prices for fruit and vegetables contributed significantly to the overall increase, with cucumber prices rising by 8.3% and tomato prices by 1.9% in just one week.

Among less seasonally sensitive foods, the price of eggs increased by 1.7%, and frozen fish by 1.4%. The central bank had initially estimated this year's inflation at a maximum of 8.5%.

The central bank's monetary policy department's head Andrei Gangan told the Interfax news agency on Dec. 24 that full-year inflation will be between 9.6% and 9.8%.

Inflationary expectations among households for the coming year also reached 13.9% in December, the highest level since the beginning of the year.

In a report on its inflationary expectations survey, the central bank said respondents were most concerned about rising prices for milk, dairy products, eggs, meat, and fish.

It also said respondents have begun to notice increases in the prices of home appliances and electronic devices.