Saudi Arabia records $80 billion in Q2 2025 revenues
Government expenditures for the same period amounted to $89.5 billion (336 billion riyals), resulting in a budget deficit of $9.1 billion (34 billion riyals).
Oil revenues for the quarter came in at $40.3 billion (151 billion riyals).
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Arab News
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Pakistan, China to collaborate on economic research, training programs under new agreement
ISLAMABAD: Pakistan's Planning Ministry and China's Development Research Center (DRC) have reached an agreement for joint research, training programs and expert exchanges in the field of economy, Pakistani state media reported on Sunday. The understanding was reached during a meeting between Pakistan's Planning Minister Ahsan Iqbal and President of China's Development Research Center and Center for International Knowledge on Development, Lu Hao, in Beijing on Sunday. Beijing has invested tens of billions of dollars in energy, infrastructure and other projects in Pakistan as part of the China-Pakistan Economic Corridor and has repeatedly rolled over sovereign loans to Pakistan in order to help Islamabad meet its external financing needs. In his meeting with top Chinese officials in Beijing, Iqbal expressed Islamabad's keen interest in learning from China's achievements in economy and other fields, the state-run Radio Pakistan broadcaster reported. 'China's scientific planning is a beacon of long-term and sustainable economic development,' Iqbal was quoted as saying by the broadcaster. 'Pakistan is keen to learn from China's achievements in economy and reforms.' The DRC, a key policy research and consulting institution directly under the Chinese central government, focuses on comprehensive, long-term and strategic issues, and plays a significant role in advising the government on policy formulation, particularly regarding China's economic and social development. In his meeting with the DRC president, the planning minister said that Pakistan wanted to promote trade and exports with China, according to Radio Pakistan. Lu expressed confidence in Pakistan's strategy to become an export-oriented economy. Besides economy, China and Pakistan have also been longtime defense partners. Islamabad this year said its Chinese-supplied jets had shot down six Indian aircraft, including three French-made Rafale fighters, in the four-day military standoff between Pakistan and India in May, drawing interest for analysts and governments alike. While India has admitted losses, but it has not specified the number of aircraft lost to Pakistan, with some observers seeing this as a symbol of Beijing's rising military might. Pakistan accounts for around 63 percent of China's arms exports, according to Stockholm International Peace Research Institute (SIPRI). In the recent fighting, Pakistan used the J10-C Vigorous Dragon and JF-17 Thunder planes, armed with air-to-air missiles. Islamabad's air defenses also used Chinese kit — including the HQ-9P long-range surface-to-air missile system — and deployed Chinese radar as well as armed and reconnaissance drones.
Al Arabiya
an hour ago
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Top Trump aide accuses India of financing Russia's war in Ukraine
A top aide to President Donald Trump on Sunday accused India of effectively financing Russia's war in Ukraine by purchasing oil from Moscow, after the US leader escalated pressure on New Delhi to stop buying Russian oil. 'What he (Trump) said very clearly is that it is not acceptable for India to continue financing this war by purchasing the oil from Russia,' said Stephen Miller, deputy chief of staff at the White House and one of Trump's most influential aides. Miller's criticism was some of the strongest yet by the Trump administration about one of the United States' major partners in the Indo-Pacific. 'People will be shocked to learn that India is basically tied with China in purchasing Russian oil. That's an astonishing fact,' Miller said on Fox News' 'Sunday Morning Futures.' The Indian Embassy in Washington did not immediately respond to a request for comment. Indian government sources told Reuters on Saturday that New Delhi will keep purchasing oil from Moscow despite US threats. A 25 percent tariff on Indian products went into effect on Friday as a result of its purchase of military equipment and energy from Russia. Trump has also threatened 100 percent tariffs on US imports from countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Miller tempered his criticism by noting Trump's relationship with Indian Prime Minister Narendra Modi, which he described as 'tremendous.'
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Saudi Takamol Holding, Bahrain's Tamkeen Partner to Advance Labor Market Development
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