Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...Business Economy Global
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...Business Economy
Italy’s Eni joins giant Qatar gas project after Russian cuts
Eni will own a stake of just over three percent in the $28 billion North Field East project, the world's...The project's LNG -- the cooled form of gas that makes it easier to transport -- is expected to come on line in 2026.
It will help Qatar increase its liquefied natural gas production by more than 60 percent by 2027.
Incubeta buys Bruce Clay
The purchase will help the firm to expand in the MENA region.Operating in 17 countries globally, Incubeta is a market leading specialist that uses the power of bespoke, localized digital solutions to unlock and amplify growth potential
Bruce Clay MENA and Incubeta will drive growth for clients, and the group, in the Middle Eastern and North African markets
Vodafone signs deal with Whisbi
The agreement is for the provision of customer care services via video call.Vodafone has signed an exclusive agreement with Whisbi for the provision of customer care services via video call
The agreement was signed between Bader Al Zaidi, CEO of Vodafone, and Alex Bisbe CEO of Whisbi in Muscat
Bitcoin drops to $18,740, its lowest level since December
Bitcoin plunged below $20,000 on Saturday, shedding nine percent from the previous day to fall to $18,740, its lowest level...With investors increasingly wary of risk, the world's most popular crypto asset has lost more than 72 percent of its value since reaching a high of $68,991 on November 10, 2021
World stock markets plunged this week amid fears that inflation-fighting interest rate hikes by the US Federal Reserve and other central banks could trigger a recession
Iraq asks Iran to hike gas supplies to run power plants
Iraq is in discussions with Iran to increase gas transportation to the country in order to operate power plants. The...The ministry of electricity for Iraq feels that Iran understands Iraq's needs
Iraq has started the process of repaying the Iranian gas debt, while also saying it needs more than 50 million cubic meters per day
CBJ asks local banks not to change interest rates on loans
The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals....The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals
CBJ’s decision comes in light of the current changes to interest rates and to ease the burden of repaying loans for individuals
WTO to lift Covid vaccine patents, but many doubt it will work
The World Trade Organization agreed Friday to temporarily lift patents on Covid-19 vaccines after two years of bruising negotiations, but...The unprecedented agreement, sealed by all 164 WTO members after late-night overtime talks, will grant developing countries the right to produce Covid vaccines for five years
Under the terms of the new deal, WTO members have six months to decide on whether to extend the measures "to cover the production and supply of Covid-19 diagnostics and therapeutic
TikTok says Oracle to keep US user data safe
TikTok on Friday said Oracle will store all the data from its US users, in a bid to allay fears...ByteDance employees have repeatedly accessed information about US TikTok users, according to a Buzzfeed news report
TikTok has been adamant that it has never given US user data to Chinese officials and that it would refuse if asked to do so
Gulf equities fall, imitating global stock markets
Equities in the Middle East imitated the global stock markets, falling as central banks raised interest rates to fight off...The UAE and Saudi central banks raised interest rates, hours after US Federal reserve increased its rate, the highest in nearly 30 years
Financial and energy sector shares dipped sharply, dragging down the Saudi Stock Exchange's main index by 2.2 percent on Sunday
Halal tourism eyes recovery as COVID-19 norms ease
The recovery process of the sector remains fragile and could be disrupted by the ongoing war in Ukraine, fuel price...The recovery process of the sector may get disrupted by the ongoing Ukraine war, fuel price rise, and other potential health threats, say experts.
The pre-pandemic projection of 230 million arrivals by 2026 will now be reached in 2028 with an estimated expenditure of USD$225 billion, they add.
