Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
Economy
Asian stocks mostly up after US tech rally
Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...
Economy
China unveils plan to shore up industrial economy
Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries.
- Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries
- Efforts will be made to tap into market potential to grow consumer demand, stabilise exports of industrial products
Search for buried survivors after Indonesia quake kills 162
The epicenter of the shallow 5.6-magnitude quake on Monday was near the town of Cianjur in Indonesia's most populous province...
- Indonesia's national disaster mitigation agency, or BNPB, said at least 25 people were still buried under the rubble in Cianjur as darkness fell on Monday
- The devastation caused by the quake was made worse by a wave of 62 smaller aftershocks -- with magnitudes ranging from 1.8 to 4 -- that kept shaking Cianjur
Infographics
Global economic woes take toll on GCC contracts
High inflation and the West's sanctions on Russia for its Ukraine invasion besides the supply chain disruptions caused by China's...
- The increase in benchmark rates by global and regional central banks to combat runaway inflation also affected project funding.
- The UAE overtook Saudi Arabia as the largest projects market in the GCC during Q3-2022.
Economy
COP27 agrees to fund climate damages, no progress on emission cuts
A final COP27 statement covering the broad efforts to grapple with a warming planet held the line on the aspirational...
- Tired delegates applauded when the fund was adopted as the sun came up Sunday following two extra days of negotiations
- UN chief Antonio Guterres said the talks had "taken an important step towards justice" with the loss and damage fund
Business
AD Ports Group and Transmar launch new Pakistan Service
The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti.
- The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti
- The new route will contribute to AD Ports Group’s strategic objectives of increasing regional and global connectivity
Arts & Culture
Sheikh Zayed Festival to air World Cup matches for fans
Abu Dhabi, UAE— The Sheikh Zayed Festival will provide a number of screens for the regular airing of the FIFA...
- According to the Higher Committee organizing the festival, the screens will be set up throughout different areas from the 20th November to 18th December 2022
- Fans can enjoy an exciting array of events, before and after games that include concerts, entertainment, heritage and cultural shows
Economy
China’s natural gas output up 12.3% in October
The country produced 18.5 billion cubic metres of natural gas in October, up 12.3 percent from a year ago.
- The country produced 18.5 billion cubic metres of natural gas in October, up 12.3 percent from a year ago
- In the first 10 months of this year, China's natural gas output rose 6 percent YoY to 178.5 billion cubic metres
Economy
Qatar’s IPI increases by 4.9 percent in September
Doha, Qatar— The Industrial Production Index (IPI) of Qatar has increased by 4.9 percent in September of 2022 when compared...
- The mining sector index showed a decrease by 2.8% compared to the previous month (August 2022)
- The index of the manufacturing sector showed a decrease by 5.3% compared to the previous month (August 2022)
Business
FIFA says 2.95 million World Cup tickets sold
Queues have built up outside the FIFA ticket centre in Doha and fans report long waits to get onto the...
- Qatar has already overtaken Russia 2018, when just over 2.4 million tickets were sold
- The start of the World Cup has led to a surge of interest in the 64 matches over 29 days
Economy
Abu Dhabi launches smart manufacturing index
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has launched the 'Abu Dhabi Smart Manufacturing Index',...
- The Index empowers manufacturers with the necessary knowledge and training to initiate an Industry 4.0 transformation journey.
- It breaks down sophisticated concepts into six building blocks to provide a clear and easy-to-follow roadmap.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
Economy
Company News
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France to host ‘humanitarian aid’ conference for Gaza
sraeli Prime Minister Benjamin Netanyahu has said there will be no fuel delivered to Gaza and no ceasefire with Hamas...
Economy
Putin, Erdogan and Raisi make visits in Central Asia
Tashkent will host the Iranian and Turkish presidents, as well as Pakistani Prime Minister Anwaar-ul-Haq Kakar and Central Asian leaders....
UAE rides property-market boom as demand soars
Global firms looking to hire space for offices and demand from govt, local dwellers have turbocharged the sector, driving property...
Business
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Economy
Jordan signs two deals worth $140m for water sector development
Amman, Jordan - Jordan's government has signed two deals with the German KfW Development Bank to secure a financial package...
- Jordan's Petra News Agency reported that the initial tranche of financing encompasses a $84 million soft loan
- A subsequent $56 million soft loan will spearhead a program dedicated to curtailing water losses and diminishing the rates of unbilled water
Economy
Saudi FDI flows revised to US$33bn in 2022 under new IMF-approved methodology
Riyadh, Saudi Arabia-- Foreign direct investment (FDI) into Saudi Arabia amounted to $32.52 billion in 2022, revised upwards from $8...
- The IMF-endorsed methodology relies on analyzing individual financial statements to realize highly accurate annual statistics
- The new methodology and figures for FDI was invented after nearly 18 months of work between the Ministry of Investment, GASTAT and SAMA
SEC reports $1.55bn Q3 profit
The company attributes the growth to surge in demand.
- Operating revenues went up to $15.19 billion, marking a 2.2% increase compared to the same period in the previous year
- The company attributed the revenue growth primarily to a surge in demand for electrical energy during the summer season