Washington: US President Donald Trump accused Russia and China on Monday of devaluing their currencies while the United States raises interest rates.
“Russia and China are playing the Currency Devaluation game as the US keeps raising interest rates. Not acceptable!” Trump said in a Twitter post.
Trump’s tweet referred to what he sees as unfair trading advantages: if a country’s currency is artificially low, its exports are more competitive. Higher US interest rates would generally increase the value of the dollar, making US exports more expensive.
Since Trump took office in January 2017, the dollar has weakened substantially against most currencies, including the Chinese yuan and, until the US imposed sanctions on Russia in the last few weeks, the ruble.
Against the yuan, the dollar has fallen by 8.6 percent since Jan. 20, 2017, while it has appreciated 4.5 percent against the ruble. Until the US announced sanctions on Russian oligarchs earlier this month, however, the dollar had weakened by nearly 4 percent against the Russian currency. That gain was entirely erased by a two-day drop of 8.4 percent in the ruble on April 9 and 10.
More widely, the US dollar index, which measures the greenback’s value against a basket of major trading partner currencies, has declined by 11.2 percent since Trump became president.
The US Treasury, in a semi-annual report on Friday, again refrained from naming any major trading partners as currency manipulators. The report came as the Trump administration pursues potential tariffs, negotiations and other restrictions to try to cut a massive trade deficit with China.
The report did not mention Trump’s recent threats to impose billions of dollars worth of tariffs on Chinese goods over Beijing’s intellectual property practices, or pending Treasury restrictions on Chinese investment in the United States.
Trump says Russia, China playing ‘currency devaluation game’
Trump says Russia, China playing ‘currency devaluation game’
- Trump accuses Russia and China of devaluing their currencies on Twitter
- Trump’s tweet referred to what he sees as unfair trading advantages
Dar Al Arkan annual profit rises 41% to $301m on stronger property sales
RIYADH: Dar Al Arkan Real Estate Development Co. posted a 40.54 percent rise in annual net profit to SR1.13 billion ($301 million) in 2025, supported by higher property sales.
According to a filing on Saudi Exchange, the company’s net profit rose from SR806.84 million a year earlier, while annual revenue increased 3.75 percent year on year to SR3.90 billion.
Operating profit climbed 18.96 percent to SR1.59 billion, while gross profit rose 15.22 percent to SR1.84 billion.
“The increase in net income is mainly due to the increase in property sales. The increase in finance costs was offset by the increase in lease revenue, decrease in operating expenses, increase in share of income from associates, and increase in non-operating income from Islamic Murabaha deposits and positively impacted the net income,” the company said in the statement.
Shareholders’ equity after minority interest stood at SR22.22 billion as of Dec. 31, compared with SR21.09 billion a year earlier.
In February, Dar Al Arkan announced the full redemption of its $400 million sukuk.
In a Tadawul statement, the company said that the sukuk were redeemed at maturity using internal resources, with the amount transferred to the designated account.
The company further said that the impact of the sukuk redemption will appear in its first-quarter financial statement.
The company also disclosed last month that it had received three white land tax-related invoices totaling about SR201.15 million for plots within the Shams Ar Riyadh development, licensed under the Wafi off-plan sales program. The invoices were valued at SR48.32 million, SR108.10 million, and SR44.73 million , respectively.
In a separate disclosure in September, Dar Al Arkan said 2.83 million sq. meters of its land portfolio falls under the Kingdom’s White Land Tax Law.
