28th April 2025
Saudi Arabia and Qatar to Settle Syria’s World Bank Debt
Saudi Arabia and Qatar will pay Syria’s $15 million debt to the World Bank, allowing the country to regain access to international funding for reconstruction and public sector salaries.
This marks the first Saudi financial assistance to Syria since the fall of Bashar al-Assad’s regime, reflecting a shift in regional engagement with Syria’s new government led by former rebels.
The move could allow the World Bank to resume operations in Syria after a 14-year suspension, potentially unlocking further international support.
Saudi Arabia has increased humanitarian aid to Syria recently and is seeking greater influence in the country, but caution remains due to ongoing sanctions and regional instability.
Saudi officials emphasise the need for broader international support for war-torn countries in the region, including Yemen, Sudan, Lebanon, and the Palestinian territories.
Trump’s China Tariffs Hit US Supply Chains and Trade Flows
US tariffs of 145% on Chinese imports have led to a sharp drop in container and air freight volumes from China. Bookings for shipping containers are down 45% year-over-year, and air freight bookings are down about 30%.
Major US ports, especially Los Angeles, are experiencing significant declines in scheduled arrivals, and shipping companies are reporting widespread cancellations and blank sailings.
US importers are delaying shipments, depleting inventories, and shifting their supply chains to other Asian countries, such as Vietnam and Cambodia, to avoid tariffs.
The closure of the US ‘de minimis’ scheme, which allowed tariff-free imports of low-value goods, is expected to further depress trade, especially for e-commerce.
Despite some exemptions and hopes for a deal, both the US and Chinese logistics and retail sectors feel the impact, with uncertainty causing disruptions and price volatility.
ExxonMobil’s Low-Carbon Spending Surpasses European Oil Majors
ExxonMobil plans to spend up to $30 billion on low-emissions projects by 2030, a sharp increase from previous commitments and surpassing the low-carbon spending of Shell and BP.
The company focuses on carbon capture, biofuels, hydrogen, and lithium extraction rather than building large-scale renewables like its European peers.
While ExxonMobil ramps its investments, European rivals such as Shell, BP, and Equinor are scaling back their low-carbon spending to focus on more profitable fossil fuel production.
ExxonMobil’s low-carbon strategy relies heavily on US government subsidies and customer demand, with a significant portion of spending aimed at reducing emissions for third-party customers.
Critics note that ExxonMobil’s plans do not address emissions from customers burning its fuels (scope 3 emissions), and there is uncertainty about whether the company will meet its ambitious spending targets.
News written by Iskander Shyngyssov | Published by Zhangir Zhangaskin
