Fossil fuel demand is high in Central Eastern Europe. Here’s how it can make the energy transition
This “responsible transition” is not only defined by the development principles, but primarily by a selective investment approach in our...
Economy
Qatar’s non-energy private sector shows strong growth in 2024
Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest...
Economy
Geostrategy
Saudi grants almost 450,000 metric tons of oil to Yemen
AL-MAHRA, YEMEN - The second batch of the new Saudi oil derivatives grant of 4,491,000 metric tons of diesel was...
- The grant comes as part of the Kingdom's support for the Yemeni people under the directives of Saudi King Salman and the Crown Prince
- It also comes as an affirmation of the Saudi Arabia's keenness to achieve security, stability and development for the Yemeni people
Business
JPACO reviews key agricultural projects, efforts in 2022
AMMAN, JORDAN - Board of Directors of the Amman-based Jordanian- Palestinian Agricultural Marketing Company (JPACO)) on Saturday reviewed its key...
- JPACO's Board of Directors also examined the company's performance and its goals and discussed its action plan for 2023.
- JPACO General Manager, Aladdin Abu Khair, said the company worked to open new international markets.
Economy
UAE Council for Environmental and Municipal Work launches Waste-free Schools project
DUBAI, UAE - The UAE Council for Environmental and Municipal Work held its second meeting, chaired by Mariam bint Mohammed...
- The meeting agenda also featured discussions of several key topics, including the environmental indicators of the We The UAE 2031 vision.
- The minister said that the Council explored transformational environmental projects, in line with the new methodology for federal government work.
Economy
World Bank predicts decline in Egypt’s economic growth
Riyadh, Saudi Arabia-- Egypt’s economic growth is expected to decline to 4.5 percent in the fiscal year 2022-23 from 6.6...
- According to the report, the growth is forecast to inch up after that as the country continues to push ahead with macroeconomic stabilization and structural reforms
- During the fiscal year 2022-23, inflation is projected to surpass the Central Bank of Egypt’s target range between 5 and 9 percent and remain in double digits
Economy
Ukraine says grain harvest dropped almost 40 percent
Kyiv, Ukraine--Ukraine estimates its grain harvest fell by around 40 percent year on year due to the Russian invasion, a representative...
- Ukraine is a major exporter but Russia's invasion in late February stopped shipments and blocked 20 million tonnes of grain in Ukraine's ports
- In July a landmark deal signed and brokered by the UN and Turkey established a safe shipping corridor for exports to resume
Economy
PIF leads Saudi Arabia on path of economic reforms
In order to achieve the Vision 2030 goals, the PIF and its portfolio companies seek to help the kingdom grow...
- According to a report by S&P Global Rating, the Public Investment Fund (PIF) has US$620 billion of assets under management
- The Saudi Stock Exchange, Tadawul, is the largest equities market in MENA by market capitalization and trading volumes
Economy
UAE orders arrest of company director for fake emiratisation quota
Abu Dhabi, UAE-- The UAE Public Prosecution has ordered the arrest of a private company director who was proven to...
- The suspect allegedly forged e-documents, faked employment contracts, and falsely stated that his company had hired Emirati citizens
- The UAE Attorney-General, received a report about the incident from the Ministry of Human Resources and Emiratisation and ordered the launch of an urgent investigation
Economy
US Fed’s preferred inflation gauge eases in November
A key indicator of US inflation edged down from a year ago in November, according to government data, in welcome...
- The US Federal Reserve's preferred inflation measure, the personal consumption expenditures price index, rose 5.5 percent last month.
- This was slightly below October's level but remains significantly higher than policymakers' target of two percent inflation.
Geostrategy
Macron urges Lebanon to ‘get rid’ of leaders blocking reforms
"The problem with Lebanon is that we must solve people's problems and get rid of those who cannot do it,"...
- Macron has taken the lead in international efforts to bail out the Lebanese economy after a collapse in the value of the Lebanese pound plunged most of the population into poverty.
- International lenders have demanded that Lebanon adopt a programme of painful economic reforms in return for releasing billions of dollars in bailout loans.
Geostrategy
Iraq tells visiting Italy PM it seeks closer economic ties
Iraq's prime minister appealed to visiting Italian counterpart Giorgia Meloni for closer economic ties with his oil-rich country suffering from...
- Italian oil firm Eni has been involved in exploration and production in Iraq for over a decade.
- The United Nations says Iraq is one of five countries most exposed to some impacts of climate change.
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Fossil fuel demand is high in Central Eastern Europe. Here’s how it can make the energy transition
This “responsible transition” is not only defined by the development principles, but primarily by a selective investment approach in our...
Economy
Company News
Latest News
Indonesia’s exports to UAE expected to rise by $4bn with CEPA trade pact
Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around...
Economy
Movement against ‘Pro-Israeli’ fast-food chains gains momentum
Tehran, Iran – Egypt, Jordan, and Turkey witnessed a significant surge in a boycott targeting multinationals that have either pro-Israeli...
Dubai to host corporate governance experts at ICGN-Hawkamah Conference
Dubai, UAE--Dubai will host a gathering of international corporate governance experts at the upcoming ICGN-Hawkamah Conference, themed 'Capital, Companies, and...
Economy
Most Read
Business
Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt
RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...
- At least 518 Egyptian companies are operating in the Saudi market, the minister said.
- He said that over 285 Egyptian brands are spread out across the Kingdom.
Business
Qatar posts trade balance surplus of US$16.7bn in Q3 2023
DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7...
- In Q3 2023, Asia was the principal destination of Qatar’s exports and imports, representing 74.9 percent and 36.3 percent respectively.
- In Q3 2023, the European Union, accounting for 10.4 percent and 27.5 percent of Qatar's exports and imports respectively.
Business
Saudi oil and non-oil exports fall by above 17 percent in Sept
Dubai, UAE -- Saudi Arabia’s oil exports fell by 17.1 percent (SAR 17.2 billion or $4.58 billion) in September, mainly...
- The share of oil exports in total exports increased from 80 percent in September 2022 to 80.1 percent in September 2023.
- Imports also decreased compared to August 2023 by SAR 9.6 billion or 13.7 percent, according to data by GASTAT.