Saudi Arabia offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...
Economy
GCC tourism growth skyrockets as diversification drive gains momentum post-Covid
GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable...
Economy
Geostrategy
Venezuela President talks cooperation with Qatar emir
Venezuela's President Nicolas Maduro met Wednesday with Qatar's Emir Tamim bin Hamad Al-Thani in the gas-rich Gulf nation, his fifth...
- The talks focused in particular on "energy, the economy, investment, agriculture and tourism."
- Maduro visited Iran at the weekend where he signed a 20-year cooperation agreement with the Islamic republic
Geostrategy
Turkey to host meeting with UN, Russia, Ukraine for export of grains
Turkey is ready to host a four-way meeting with the United Nations, Russia, and Ukraine to organize the export of...
- Millions of tons of wheat are currently stuck in Ukrainian ports, either blockaded or occupied by Russian forces, and vessels face the danger of mines
- The UN Secretary-General's spokesman Stephane Dujarric said Ankara had an important role in resolving the situation which has raised the prospect of worldwide food shortages
Economy
Tunisia union demands salary hike on nationwide strike
Up to three million workers could observe the strike, shuttering 159 state agencies and public companies and bringing public transport,...
- Up to 3 million workers could observe the strike, shuttering 159 state agencies, public companies and bringing public transport to a halt
- In a statement on Wednesday, the UGTT union said workers would hold this strike to defend their economic and social rights
Economy
GCC central banks raise interest rates
Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised...
- The Saudi central bank raised repo rate by 0.5 percent to 2.25 percent from a previous 1.75 percent, and the reverse repurchase agreement (reverse repo) rate by 0.5 percent
- The UAE was quick to follow Saudi Arabia in hiking interest rate
Economy
US Fed raises key interest rate by 0.75%, largest since 1994
The US Federal Reserve announced the most aggressive interest rate increase in nearly 30 years on Wednesday, and said it is...
- The Fed's policy-setting Federal Open Market Committee raised the benchmark borrowing rate to a range of 1.5-1.75 percent, up from zero at the start of the year
- Biden has endorsed the Fed's effort and is hoping for success as his Democrats face the possibility of losing control of Congress in key midterm elections in November
Economy
BoE set for fifth rate hike in row as inflation soars
The Bank of England is expected on Thursday to raise its key interest rate for a fifth straight time to...
- Some experts predict an even higher increase, mirroring aggressive rate-tightening by the Federal Reserve
- UK inflation stands at nine percent, the highest level in 40 years, and is forecast to keep rising
Business
Aramco sustainability report lays down plans for net-zero ambition
Aramco publishes its first sustainability report which outlines ways in which the company plans to further tackle emissions while delivering...
- The report provides information on Aramco's efforts to support the broader energy transition
- Aramco expects to update the sustainability report on an annual basis
Business
OIC aims for 25 percent trade among member states by 2025
OIC has set a target of 25 percent trade among member states in the next three years by 2025 and...
- Organization of Islamic Cooperation has set a target of 25 percent trade among member states by 2025
- Biennial general trade fair is vital for promotion of trade and services among OIC member states
Economy
UAE Industry Development Council reviews action plan
Industry Development Council meeting reviews recommendations made at the first meeting, progress in implementing them and discusses the development of...
- Industry Development Council recommends launching unified platform for industrial data
- The council reviews suggestions made at first meeting, reflects on progress in implementing them
Economy
WTO talks extended in bid to seal fishing subsidy, food security deals
The World Trade Organization's ministerial conference will run over into a fifth day on Thursday in the hope of striking...
- The global trade body only takes decisions by consensus and its 164 members all need to agree if anything is to get passed.
- India all but sank the WTO's bid to net a long-sought deal on curbing harmful fishing subsidies late Tuesday, insisting it would not sign up without a 25-year exemption.
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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 offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...
Economy
Company News
Latest News
China reports drop in exports and imports in August
Beijing, China--China's exports and imports sank again in August, data showed Thursday, as the world's second-largest economy struggles with sluggish global...
Economy
Saudi Arabia’s economy and fiscal position strong due to Vision 2030: IMF
Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position...
Economy
Global trade finance gap grew to record US$2.5trn in 2022: ADB
The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity...
Economy
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Economy
Qatar’s non-energy private sector records strong growth in August
Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and...
- According to the QFC's latest purchasing managers' index (PMI) survey, the expansion rate was the third strongest so far in the current year
- QFC CEO Yousuf Mohamed al-Jaida said PMI has held steady over the past six months at a level consistent with solid economic growth
Economy
Israel suspension of Gaza exports risks ‘catastrophe’: businesses
Osama Nofal, of the Gaza economic ministry, put the value of Gaza exports to Israel and the occupied West Bank...
- Israel's army chief on Monday ordered a halt to commercial deliveries from Gaza to Israel after an alleged attempt to smuggle explosives
- The Gaza Strip has been under a crippling Israeli blockade since the Islamist group Hamas seized power in the Palestinian territory in 2007
Business
stc buys stake in Telefónica
The group invests in information, communications and technology sectors.
- The group's growth strategy has resulted in investments in the Information, Communication and Technology sectors inside Saudi Arabia and globally
- The most recent investment being the acquisition by Tawal, a subsidiary of stc Group, of United Group’s telecommunications tower assets in Bulgaria, Croatia and Slovenia