The Saudi Minister of Energy, Minister of Industry and Mineral Resources, Prince Abdulaziz bin Salman, announced on Tuesday the restoration of the level of 5.8 million barrels per day of energy through the “East-West” pipeline, as of this morning.
Prince Abdulaziz bin Salman said, during a dialogue session within the “Made in the Gulf 2026” forum and exhibition in Manama, that the Kingdom has restored this level of operational capacity for the line.
The East-West line is one of the main routes for transporting crude oil in Saudi Arabia, as it connects the production areas in the east of the Kingdom to the export ports on the Red Sea coast.
Olli Rehn, a member of the European Central Bank's Governing Council, said on Tuesday that the rapid rise in energy prices in the euro zone has not yet spread to other goods and services, adding that the recent rise in bond yields is likely to limit price pressures, while negatively affecting growth.
Inflation in the euro zone is currently exceeding the 2 percent target level of the European Central Bank by a large margin, while policymakers are discussing the need to continue raising interest rates, after the two increases approved last summer, according to Reuters.
While a number of policymakers said that inflation risks tend to be higher than expected, Rehn pointed out that there are other factors that should be taken into account, as conflicting forces influence the economy.
Rehn said: “Higher long-term interest rates contribute to a slowdown in growth, and also limit the transmission of higher energy prices to the prices of other goods and services and to wages,” echoing some statements made by the chief economist of the European Central Bank, Philip Lane.
European Central Bank Governing Council member Isabel Schnabel, known for her hawkish stance on monetary policy, also recently warned that the economy could be affected by higher-than-expected borrowing costs, which would limit inflation pressures in the medium term.
Bond yields rose to their highest levels in more than a decade across the euro zone, driven in part by higher US yields, along with growing concerns about the sustainability of debt levels in Europe.
However, Rehn avoided calling for a specific monetary policy move, and largely stuck to the ECB's current approach of not pre-empting its decisions by indicating future moves.
Financial markets expect the European Central Bank to implement two to three additional interest rate increases during the current tightening cycle, pricing in an 80 percent probability of a rate hike by December.
Rehn also acknowledged that energy prices remain high, and that the economy is showing exceptional resilience, supported in part by strong investments in artificial intelligence.
He said that this flexibility indicates, according to some policymakers, that price pressures may continue at a greater pace than previously expected.
Emaar The Economic City announced the Public Investment Fund’s approval to extend the availability period for the shareholder loan amounting to one billion riyals ($266,000), which was scheduled to expire last September, to February 28, 2027.
The company explained, in a disclosure to (Tadawul), that the fund agreed on October 4, 2026 to extend the availability period during which the company can benefit from the loan, from September 18, 2026 to February 28, 2027.
In March 2025, the company concluded a binding agreement with the Fund to amend and reformulate the existing shareholder loan agreement, allowing for a loan of up to one billion riyals ($266,000), after the previous loan of one billion riyals ($266,000) had been fully used.
Under the amended agreement, the loan availability period is 18 months from the date of signing the agreement, while payment is due in one payment after 24 months from the date of signing, and includes the principal amount and commission.
The company provided guarantees for the loan, consisting of real estate mortgages worth no less than 1.5 billion riyals ($400,000), in addition to promissory notes that include the principal amount and commission.
The shareholder loan agreement includes an option for the Public Investment Fund to convert the amounts due under the loan into shares in the company’s capital, after obtaining the approval of the relevant regulatory authorities and the company’s extraordinary general assembly, according to the agreed upon conversion formula.
The shareholder loan aims to cover capital expenditures and project costs, and amending the agreement comes within the company’s plan to restructure its financial position, with the aim of enhancing financial and operational stability and restructuring capital to support growth plans.
The Public Investment Fund is a related party, as it is one of the company's major shareholders.
