Sudan's Coup-hit Economy in Free Fall as Prices Bite

People watch as protesters in northern Sudan block a key trade route between Egypt and their country following a dramatic increase of electricity tariffs - AFP
People watch as protesters in northern Sudan block a key trade route between Egypt and their country following a dramatic increase of electricity tariffs - AFP
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Sudan's Coup-hit Economy in Free Fall as Prices Bite

People watch as protesters in northern Sudan block a key trade route between Egypt and their country following a dramatic increase of electricity tariffs - AFP
People watch as protesters in northern Sudan block a key trade route between Egypt and their country following a dramatic increase of electricity tariffs - AFP

Sudanese schoolteacher Babiker Mohamed barely covers his family's needs with his meagre income, but since last year's military coup he no longer knows if he can even keep afloat.

Like many in Sudan, Mohamed has been grappling with shortages in basic goods, as well as new taxes and steep price hikes on fuel, electricity and food since an October military coup led by army chief Abdel Fattah al-Burhan, AFP said.

"I used to buy 20 loaves of bread at 100 Sudanese pounds before the coup," Mohamed, who provides for a family of six, told AFP.

"Bread alone now costs me around 27,000 pounds a month which is like 90 percent of my salary" of about 30,000 pounds (or $50), he said.

"I don't know if I can afford to send my children to school anymore."

Mohamed joined teachers who went on strike this week against the worsening living conditions.

Sudan's latest coup upended a transition painstakingly negotiated between civilian and military leaders following the 2019 ouster of president Omar al-Bashir, whose rule was marked by crippling US sanctions and international isolation.

It also triggered international condemnation and punitive measures, with the United States, World Bank and International Monetary Fund suspending badly needed aid to the impoverished country.

Sudanese exports have sharply declined, foreign currency shortages have been reported, and efforts by local banks to re-establish ties with international counterparts in the US and the West came to a screeching halt.

"It's like the embargo was back since October 25," said economist Sumaya Sayed.

- 'Beyond people's reach' -
Protesters staged several rallies this week against the decline in living conditions.

Sudanese citizens have for decades endured severe economic hardship due to government mismanagement, internal conflicts and the 2011 secession of the oil-rich south.

Bashir himself was ousted in April 2019 following months of street protests initially triggered by the tripling of bread prices.

Essameddine Okasha, spokesman for the association of bakery owners in Khartoum, said bread prices have surged "beyond people's reach".

He attributed the hikes to increasing operational costs.

Sudan is also especially vulnerable to the impact of global supply shortages in the wake of Russia's invasion of Ukraine.

Protesters in northern Sudan have in recent weeks blocked a key trade route between Egypt and Sudan following a sharp increase in electricity tariffs.

In January, Sudanese authorities sharply raised electricity prices across sectors, with households seeing an increase of about 500 percent.

Sudan had already embarked on plans to scrap fuel subsidies under the transition which was derailed by the coup.

Fuel prices have undergone several hikes over the past year.

On Saturday, petrol at the pump cost 672 pounds ($1.50) per liter, up from some 320 pounds before the coup.

- Workers laid off -
Many local business owners have been forced to suspend operations.

"I have laid off some 300 employees, mostly women who were the breadwinners of their families," said a food factory owner in North Khartoum, speaking on condition of anonymity.

"I couldn't keep up with electricity and production input price hikes."

Economist Mohamed al-Nayer says Sudan is in a "state of shock".

"The absence of international aid and loans in the 2022 budget is having a negative effect," he said, pointing out that the fiscal plans rely heavily on tax rises.

"Taxes now constitute 58 percent of the budget, sharply increasing prices and pushing the country into recession."

Sudan has been reeling from triple-digit inflation, which stood at 258 percent in February.

"It will not be possible for the government to bring down inflation... instead it will likely jump to 500 percent," forecast Nayer.

- 'Right decision, wrong time' - Sudan has yet to name a prime minister since the January resignation of UN economist-turned-premier Abdalla Hamdok.

This month, Sudan formed a council to address key economic challenges, led by the deputy head of its Sovereign Council, Mohamed Hamdan Daglo, known as Hemeti.

On March 9, Daglo blamed a "mafia" of currency dealers responsible for currency and gold speculation on the local market.

Sudan's central bank announced this month it will allow the currency to float as part of measures to stem the black market.

"It was the right decision but at the wrong time," according to Sayed.

She said the move would only drive up inflation and further weaken the local currency.

In mid-February, the Sudanese pound hovered at 450 pounds to the dollar but now the greenback buys about 600 pounds.

"Central bank policies... have so far failed," Sayed said. The situation "requires proper reserves of funds and gold".



Dammam Airport Launches Saudi Arabia’s First Category III Automatic Landing System  

Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, inaugurates the General Aviation Terminal and the upgraded automatic landing system at King Fahd International Airport in Dammam. (SPA)
Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, inaugurates the General Aviation Terminal and the upgraded automatic landing system at King Fahd International Airport in Dammam. (SPA)
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Dammam Airport Launches Saudi Arabia’s First Category III Automatic Landing System  

Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, inaugurates the General Aviation Terminal and the upgraded automatic landing system at King Fahd International Airport in Dammam. (SPA)
Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, inaugurates the General Aviation Terminal and the upgraded automatic landing system at King Fahd International Airport in Dammam. (SPA)

Prince Saud bin Naif bin Abdulaziz, Governor of Saudi Arabia’s Eastern Region, inaugurated on Monday two major aviation projects at King Fahd International Airport in Dammam: a dedicated General Aviation Terminal for private flights and the Kingdom’s first Category III Instrument Landing System (ILS), which enables fully automatic aircraft landings in low-visibility conditions.

The ceremony was attended by Minister of Transport and Logistics Services and Chairman of the General Authority of Civil Aviation (GACA) Saleh bin Nasser Al-Jasser and President of GACA and Chairman of the Saudi Airports Holding Company Abdulaziz bin Abdullah Al-Duailej.

Prince Saud said the projects represent a qualitative leap in strengthening the aviation ecosystem in the Eastern Region, boosting the airport’s operational readiness and its regional and international competitiveness.

The introduction of a Category III automatic landing system for the first time in Saudi Arabia reflects the advanced technological progress achieved by the national aviation sector and its commitment to the highest international standards, he stressed.

The General Aviation Terminal marks a significant upgrade to airport infrastructure. Spanning more than 23,000 square meters, the facility is designed to ensure efficient operations and fast passenger processing.

The main terminal covers 3,935 square meters, while aircraft parking areas extend over 12,415 square meters with capacity to accommodate four aircraft simultaneously. An additional 6,665 square meters are allocated to support services and car parking, improving traffic flow and delivering a premium travel experience for private aviation users.

The upgraded Category III ILS, considered among the world’s most advanced air navigation systems, allows aircraft to land automatically during poor visibility, ensuring flight continuity while enhancing safety and operational efficiency.

The project includes rehabilitation of the western runway, extending 4,000 meters, along with a further 4,000 meters of aircraft service roads. More than 3,200 lighting units have been installed under an integrated advanced system to meet modern operational requirements and support all aircraft types.

Al-Jasser said the inauguration of the two projects translates the objectives of the Aviation Program under the National Transport and Logistics Strategy into concrete achievements.

The developments bolster airport capacity and efficiency, support the sustainability of the aviation sector, and strengthen the competitiveness of Saudi airports, he added.

Al-Duailej, for his part, said the initiatives align with Saudi Vision 2030 by positioning the Kingdom as a global logistics hub and a leading aviation center in the Middle East.

The new terminal reflects high standards of privacy and efficiency for general aviation users, he remarked, noting the selection of Universal Aviation as operator of the general aviation terminals in Dammam and Jeddah.

Dammam Airports Company operates three airports in the Eastern Region: King Fahd International Airport, Al-Ahsa International Airport, and Qaisumah International Airport.


Saudi Arabia to Launch Real Estate Indicators, Expand ‘Market Balance’ Program Nationwide

The Minister of Municipalities and Housing addresses attendees during the government press conference (Asharq Al-Awsat). 
The Minister of Municipalities and Housing addresses attendees during the government press conference (Asharq Al-Awsat). 
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Saudi Arabia to Launch Real Estate Indicators, Expand ‘Market Balance’ Program Nationwide

The Minister of Municipalities and Housing addresses attendees during the government press conference (Asharq Al-Awsat). 
The Minister of Municipalities and Housing addresses attendees during the government press conference (Asharq Al-Awsat). 

Saudi Arabia will roll out real estate market indicators in the first quarter of this year and expand the Real Estate Market Balance program to all regions of the Kingdom, following its initial implementation in Riyadh, Minister of Municipalities and Housing Majed Al-Hogail announced on Monday.

Al-Hogail, who also chairs the General Real Estate Authority, made the remarks during a government press conference in Riyadh attended by Minister of Media Salman Al-Dossary, President of the Saudi Data and Artificial Intelligence Authority (SDAIA) Abdullah Alghamdi, and other senior officials.

Al-Hogail said the housing and social ecosystem now includes more than 313 non-profit organizations supported by over 345,000 volunteers working alongside the public and private sectors.

He highlighted tangible outcomes, including housing assistance for 106,000 social security beneficiaries and the prevention of housing loss in 200,000 cases.

Development Initiatives

He noted that the non-profit sector is driving impact through more than 300 development initiatives and over 1,000 services, while empowering 100 non-profit entities and activating supervisory units across 17 municipalities.

Among key programs, Al-Hogail highlighted the Rental Support Program, which assisted more than 6,600 families last year, expanding the reach of housing aid.

He also traced the growth of the “Jood Eskan” initiative, which began by supporting 100 families and has since evolved into a nationwide program that has provided homes to more than 50,000 families across the Kingdom.

Since its launch, the initiative has attracted more than 4.5 million donors, with total contributions exceeding SAR 5 billion ($1.3 billion) since 2021.

Al-Hogail added that the introduction of electronic signatures has reduced the homeownership process from 14 days to just two.

In 2025 alone, more than 150,000 digital transactions were completed, and the needs of over 400,000 beneficiary families were assessed through integrated national databases. A mobile application for “Jood Eskan” is currently being deployed to further streamline services.

International Support and Economic Growth

Minister of Media Salman Al-Dossary said the Saudi Program for the Development and Reconstruction of Yemen launched 28 new development projects and initiatives worth SAR 1.9 billion ($506.6 million), including fuel grants for power generation and support for health, energy, education, and transport sectors across Yemeni governorates.

He also reported strong growth in the communications and information technology sector, which created more than 406,000 jobs by the end of 2025, up from 250,000 in 2018, an 80 percent cumulative increase. The sector’s market size reached nearly SAR 190 billion ($50.6 billion) in 2025.

Industry, Localization, and Philanthropy

In the industrial sector, investments exceeded SAR 9 billion ($2.4 billion), alongside five new renewable energy projects signed under the sixth phase of the National Renewable Energy Program.

Industrial and logistics investments worth more than SAR 8.8 billion ($2.34 billion) were also signed by the Saudi Authority for Industrial Cities and Technology Zones.

Al-Dossary said the Kingdom now hosts nearly 30,000 operating industrial facilities with total investments of about SAR 1.2 trillion ($320 billion), while the Saudi Export-Import Bank has provided SAR 115 billion ($30.6 billion) in credit facilities since its establishment.

On workforce development, nearly 100,000 social security beneficiaries were empowered through employment, training, and productive projects by late 2025, with localization rates in several specialized professions reaching as high as 70 percent.

Alghamdi said total donations through the “Ehsan” platform have reached SAR 14 billion ($3.7 billion) across 330 million transactions, reflecting the rapid growth of digital philanthropy in the Kingdom.


China's Russian Oil Imports to Hit New Record in February as India Cuts Back

Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China (Reuters) 
Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China (Reuters) 
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China's Russian Oil Imports to Hit New Record in February as India Cuts Back

Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China (Reuters) 
Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China (Reuters) 

China's Russian oil imports are set to climb for a third straight month to a new record high in February as independent refiners snapped up deeply discounted cargoes after India slashed purchases, according to traders and ship-tracking data.

Russian crude shipments are estimated to amount to 2.07 million barrels per day for February deliveries into China, surpassing January's estimated rate of 1.7 million bpd, an early assessment by Vortexa Analytics shows.

Kpler's provisional data showed February imports at 2.083 million bpd, up from 1.718 million bpd in January, according to Reuters.

China has since November replaced India as Moscow's top client for seaborne shipments as Western sanctions over the war in Ukraine and pressure to clinch a trade deal with the US forced New Delhi to scale back Russian oil imports to a two-year low in December.

India's Russian crude imports are estimated to fall further to 1.159 million bpd in February, Kpler data showed.

Independent Chinese refiners, known as teapots, are the world's largest consumers of US sanctioned oil from Russia, Iran and Venezuela.

“For the quality you get from processing Russian oil versus Iranian, Russian supplies have become relatively more competitive,” said a senior Chinese trader who regularly deals with teapots.

ESPO blend last traded at $8 to $9 a barrel discounts to ICE Brent for March deliveries, while Iranian Light, a grade of similar quality, was last assessed at $10 to $11 below ICE Brent, the trader added.

Uncertainty since January over whether the US would launch military strikes on Iran if negotiations for a nuclear deal failed to yield Washington's desired results curbed buying from Chinese teapots and traders, said Emma Li, Vortexa's China analyst.

“For teapots, Russian oil looks more reliable now as people are worried about loadings of Iranian oil in case of a military confrontation,” Li said.

Part of the elevated Russian oil purchases came from larger independent refiners outside the teapot hub of Shandong, Li added.

Vortexa estimated Iranian oil deliveries into China – often banded by traders as Malaysian to circumvent US sanctions - eased to 1.03 million bpd this month, down from January's 1.25 million bpd.