Russia and Ukraine to hold talks as troops edge closer to Kyiv

• Ukrainian and Russian representatives will meet via videoconference Monday, a Ukrainian presidential adviser and a Kremlin spokesman both said
• Talks between Kyiv and Moscow have yet to yield a ceasefire and Russian forces have shown no sign of easing their onslaught

Bahrain to keep managing air traffic over Gulf waters

• The Minister of Transportation and Telecommunications, Kamal bin Ahmed Mohammed announced this on Sunday
• Bahrain has successfully managed the ICAO mandate since 1959, providing air traffic control services garnering ICAO's approval

Too early to dismiss oil’s role in energy market

• Saudi Arabia, the world's second-largest oil producer, plans to produce 13.5 million barrels by 2027, as well as 23 billion cubic feet of gas by 2030
• Despite its national policy to diversify the economy and lessen reliance on fuel, the Kingdom continues to increase its oil and natural gas production

UNSC to hold emergency meeting on Russia’s request

• Russia on Thursday accused the United States of funding research into the development of biological weapons in Ukraine
• Both Washington and Kyiv have denied the allegations, with the United States saying they were a sign that Moscow could soon use the weapons itself

Treat Turkey like Ukraine: Erdogan tells EU

• "Show Turkey the same sensitivity that we are witnessing towards Ukraine," Erdogan said at a press conference in Ankara
• Turkey has been a candidate for EU membership since 1987 but talks have floundered in recent years

Inflation pinches GCC consumers’ pockets

Inflation pinches GCC consumers’ pockets

• Wholesale costs have been rising at a significantly across the region, and that this will continue to affect consumer prices in 2022.
• Saudi Arabia contributed 0.5 percentage points to the overall GCC inflation figures in October 2021, the month for which the latest data is available.

Rising inflation hobbles SMEs in Gulf countries

• Increased inflation rates mean a rise in the supply chain, labor costs, and basic living costs, which result in more challenges for SMEs
• Diversifying, and strengthening local production structures is the most appropriate way to reduce inflation

Global and regional trade: The economic booster for GCC govts

• With the rise in the price of crude oil, the economy of the region might receive a big boost, say experts
• Many experts also believe that inflation will not impact the regional trade between the GCC countries

How GCC nations can tame rising inflation?

• Inflation is more of a global phenomenon than a localized one since major central banks may have loosened policy during COVID-19.
• Since interest rates are already meager, company owners should handle the early stages of interest rate rises (probably until at least 2023-24).