Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
Economy
UAE’s global investments grow amid economic crisis
"The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or...
Economy
Economy
Egypt to host 2022 annual meetings of Islamic Development Bank
The meetings this year are being held to deliberate major economic and geopolitical developments characterized by the noticeable decline in...
- The meetings this year are being held to deliberate major economic and geopolitical developments characterized by the noticeable decline in the COVID-19 pandemic
- The meetings will provide an opportunity to study and explore ways to further consolidate economic relations amongst IsDB member countries
Economy
Soaring food prices stoke inflation worries for KSA
Saudi Arabia may see a rise in inflation as global food and energy prices surge amidst the ongoing Russia-Ukraine war,...
- Inflation will continue to rise in the kingdom, exceeding 3 percent by year-end, Alexander Perjessy, Vice-President, Senior Analyst, Moody’s Investors Service, tells TRENDS
- The Kingdom’s annual inflation reached 2.3 percent in April 2022, up from 2 percent in March 2022, according to the latest data released by the General Authority for Statistics
Economy
Record wheat prices a global worry, put poor countries at risk of poverty
Low rainfall or droughts in major producing countries were already causing worries before Russia's invasion of Ukraine in February sent...
- Ukraine struggles to sell and sow its wheat crops, putting consumers in poor countries at risk of poverty and famine.
- There are around 270 million tons of wheat in stock for a planet that consumes around 800 million a year. Around half are in China which has one year's consumption in reserve.
Economy
UK inflation highest in 40 years on rocketing energy costs
Official data showed Tuesday that Britain's unemployment rate has fallen further to a near five-decade low, but the value of...
- Nations across the world are plagued by decades-high inflation as the Ukraine conflict pushes up energy and food prices.
- The squeeze on UK household budgets tightened further in April due to tax hikes, while wages are failing to keep pace with inflation.
Business
Morocco ‘breathing again’ as tourists return after Covid curbs
Morocco this week reopened land borders with the Spanish enclaves of Ceuta and Melilla, two years after they were shut...
- The city of Marrakesh, famous for its views of graceful red buildings set against palm trees and snow-capped mountains, has long drawn visitors
- The city was hard hit by a two-year collapse in tourism that saw arrivals to the North African kingdom plummet to just a third last year from 2019
Business
IMF and Pakistan to discuss release of funds as economy falters
Pakistani Prime Minister Shehbaz Sharif, who took power with a coalition that removed Khan in a no-confidence vote last month,...
- Pakistan has repeatedly sought international support for its economy, which has been hit by crippling national debt
- A six billion dollar IMF bailout package signed by former Prime Minister Imran Khan in 2019 was never fully implemented
Economy
Japan economy shrank as Omicron wave hit
Japan's economy shrank slightly in the first quarter of 2022, official data showed Wednesday, hit by Covid-19 restrictions and higher...
- Economists expect the economy to recover again in the April-June quarter now that virus restrictions have been lifted, but caution there are some caveats
- Wednesday's data showed the economy's rebound in the last quarter of 2021 was 0.9 percent, slightly weaker than an initial estimate of 1.1 percent growth
Economy
Stocks recover as Shanghai set to ease lockdown, reopen business
The impact of Beijing's zero-Covid strategy on the world's second-largest economy was revealed Monday when official data showed that retail...
- Much of the city of 25 million has been under lockdown since April as Beijing attempts to stamp out an Omicron-fueled virus surge.
- Tuesday's rally coincides with the third day in a row that Shanghai has recorded no Covid-19 cases outside of its quarantine facilities.
Business
Julphar Q1 sales up by 156 percent
Acquisition of Planet Pharmacies and growth in segment ops led to growth.
- Gross profit margin increased to 41 percent compared to 28 percent in the previous year.
- EBITDA from continuing operations increased to AED40 million in Q1 2022.
Economy
Quality education could add $2.54 trillion to global economy
A worldwide improvement in students’ capacity for problem-solving to the average level of today’s top 10 scoring countries could add...
- Children today need to find their way in an increasingly uncertain world – a post-pandemic world of climate change, automation and rapid digitisation, a WEF report said.
- The report suggested that investing in the workforce and supporting teachers to teach in new ways, using innovative teaching methods, is critical to unlock these skills.
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Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
Economy
Company News
Latest News
Oman and South Korea sign agreement on green energy transition
Muscat, Oman--Oman has signed a memorandum of understanding (MoU) with South Korea in the field of green energy transition. The...
Economy
It’s time to address universal issues through media
Many Filipino media professionals are working in the UAE that forms the core of media cooperation. “Given the strong friendly...
Economy
Red Sea Global launches ‘Tamala’ to transform agricultural economy in Tabuk
Riyadh, Saudi Arabia--Red Sea Global (RSG) has announced the launch of the Red Sea Farms Cooperative (Tamala), established through integrated...
Economy
Most Read
Geostrategy
Tehran exports goods worth $7.2bn to West Asia in 4 months from March 2023
TEHRAN, IRAN - Iran exported $7.2 billion worth of products to West Asian countries in the first four months of...
- Comprehensive strategic five-year plans have been defined for the West Asian countries with a focus on trade infrastructure.
- The plans include organizing and development of transportation platforms, banking exchanges, customs and standards.
Business
Iran world’s eighth largest steel producer in first half of 2023
Tehran, Iran -- Iran became the eighth largest steel supplier in the world in the first half of 2023 as...
- Iran was the world’s seventh largest steel producer in June with an output of 3.2 million mt, up 17.4 percent from June 2022, the report added.
- For years, Iran had been ranked 10th globally in the list of top steel-producing countries.
Business
stc Group begins work in Europe
stc’s subsidiary TAWAL buys assets in eastern Europe.
- TAWAL aims to ensure a reliable and efficient ICT infrastructure network to all mobile networks operators in the market.
- TAWAL aims to bring significant investments, best processes and practices, as well as innovative products to its portfolio.