The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts.  In a recent interview on CNBC, Kashkari, who serves...
Economy
India, Iran sign 10-year agreement to develop port project
Tehran, Iran - India and Iran on Monday signed a 10-year contract to develop and equip the strategic Chabahar port in...
Economy
Geostrategy
Biden gambles there’s more to gain by courting Saudis
Making an about-face by deciding to visit Saudi Arabia, US president Joe Biden is betting there is more to gain...
- The visit comes as China increasingly looks to Gulf Arab nations, which have mostly rebuffed US efforts to isolate Russia over its invasion of Ukraine
- Crown Prince had a far chummier relationship with former president Donald Trump, whose son-in-law Jared Kushner was said to chat with the prince over WhatsApp
Geostrategy
Venezuela President in Qatar for unannounced visit
Maduro was shown by the official Qatar News Agency being welcomed at Doha's international airport by Sultan bin Saad Al...
- Maduro was shown by the official Qatar News Agency being welcomed at Doha's international airport by Sultan bin Saad Al Muraikhi, the minister of state for foreign affairs
- Maduro was in Iran at the weekend and signed a 20-year-cooperation agreement with the Islamic republic
Geostrategy
UN envoy appeals to Houthi rebels to open road to Taez
The United Nations special envoy to Yemen called on rebel Houthis on Tuesday to agree to reopen roads into the...
- Surrounded by mountains, Taez, which has around 600,000 inhabitants, has been almost cut off from the outside world since 2015
- The truce in effect since April 2 has led to a reduction in fighting and in civilian casualties, as well as the resumption of commercial flights from Sanaa
Geostrategy
Facing gas ‘blackmail’ by Russia, EU turns to Israel
The European Union wants to strengthen its energy cooperation with Israel in light of Russia's use of gas supplies to...
- Moscow's conduct "only strengthens our resolve to break free of our dependence on Russian fossil fuels," she said
- Israel is estimated to have gas reserves of at least one trillion cubic metres, with domestic use over the next three decades expected to total no more than 300 bn
Economy
Algeria president sacks finance minister after 4 months in job
The president "on Tuesday signed a decree ending the functions of Minister of Finance Abderrahmane Raouya," the presidency said in...
- The president "on Tuesday signed a decree ending the functions of Minister of Finance Abderrahmane Raouya," the presidency said in a statement
- Raouya's sacking comes less than a month after Tebboune laid off central bank chief Rostom Fadli, in office for less than two years
Economy
Food security main agenda of UAE delegation in Netherlands
A UAE delegation visits Netherlands to exchange knowledge and best practices in the food sector with their Dutch counterparts with...
- The UAE delegation shared their wide range of expertise with their Dutch counterparts
- The delegation learned first-hand about the latest innovations in Dutch agriculture technology
Economy
Qatar passenger traffic may surge by 105 percent in 2022: Report
The report of Qatar Aviation body is updated with the IATA Air Transport data (Airport-IS) related to schedule statistics until...
- Passenger traffic anticipates a surge ranging from +90 percent to +105 percent compared to the year 2021
- The report suggests that the number of flights at Hamad and Doha International Airports could reach about 28,000
Business
Kuwait awarded nearly $6 billion worth of tenders in 2021
The Central Agency for Public Tenders of Kuwait (CAPT) has awarded 235 tenders worth $5.9 billion in 2021. Secretary-General of...
- The Ministry of Electricity, Water and Renewable Energy had won the lion's share of the tenders in 2021.
- The Ministry of Health (MoH), with 25 tenders worth $364.6 million, grabbed the second position.
Business
Jordan’s FDI in 2021 reaches $622million, Arab region’s $53 billion
The Foreign Direct Investment (FDI) in Jordan amounted to $622 million in 2021, constituting 1.2 percent of the Arab region's...
- UAE was the topmost FDI destination in the Arab world, with $20.7 billion or 39.1 percent of the region's total FDI.
- UAE was followed by Saudi Arabia with $19.3 billion, Egypt with $5.1 billion, Oman with $3.6 billion, and Morocco with $2.2 billion.
Geostrategy
Arab League calls for efforts to counter global economic crisis
The Arab League says the world is facing challenges from political, economic crises and armed conflicts and that unified efforts...
- Arab League says unified efforts are needed among countries in the region to confront challenges facing the global economy
- The League says the world is facing a massive challenge from political, economic crises and armed conflicts
The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts.  In a recent interview on CNBC, Kashkari, who serves...
Economy
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Kuwait unveils economic reform program, to focus on diversification
Kuwait City - Kuwait has announced a comprehensive economic reform plan for 2023-2027 to address various challenges facing the country’s...
Economy
Keen on promoting digital payments in India, UAE, says RBI
NEW DELHI, INDIA – The Chief General Manager of the Reserve Bank of India's Department of Payment and Settlement Systems,...
Geostrategy
IsDB to finance projects worth US$800m in member states
JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects...
Geostrategy
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Economy
Mega projects bet high on diversified future
This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high...
- Saudi Arabia has allocated $250 billion in construction contracts since 2016 as part of its Vision 2030 strategy to diversify economy, attracting tourists and investments
- In 2022, Saudi Arabia emerged as the fastest-growing G20 economy, fueled by a massive $1.25 trillion investment in real estate and infrastructure projects
IMF head urges G20 leaders to deliver promised US$100bn for climate finance
New Delhi, India-- Appealing to G20 members to lead by example in delivering on the promise of US$100 billion per...
- Ahead of COP28, the IMF managing director said that target must be raised to reduce emissions to prevent grave risks to economic well-being
- She urged countries to mobilize domestic resources to finance and manage the green transition through tax reforms, efficient public spending
Economy
Global food prices drop in August: FAO
Led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations revealed that its...
- Its Cereal Price Index dropped by 0.7% from July and International wheat prices dipped by 3.8% in August
- But in contrast, the FAO All Rice Price Index climbed up by 9.8% from July to reach a 15-year nominal high