Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister
Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
Economy
‘UAE outpaces major nations in human development’
“These efforts ensure sustainable development across all sectors, promising a bright future for generations to come,” he adds, referring to...
Economy
Economy
Tunisia facing major structural challenges, weak growth, social inequity: IMF
Tunisia is facing major structural challenges that result in deep macroeconomic disequilibria, a weak growth in spite of its strong...
- The impact of the pandemic and the war in Ukraine are now adding to these structural challenges, an IMF mission that visited the country said.
- Initiatives aimed at enhancing competition and the business climate are also critical to unlock the country’s potential growth and job creation, IMF said.
Business
$1.59 bn worth of deals signed on Day 3 of Global Entrepreneurship Conference
On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements...
- The Small and Medium Enterprises Financing Guarantee Program “Kafalah" signed a number of agreements with a number of ministries as well as public and private sector institutions.
- Monsha'at) also signed various cooperation agreements and launched National Industrial Development and Logistics Program “Thousand Mile” Initiative.
Economy
Dubai summit highlights future to governments
This year’s summit has brought together 190 countries, over 500 speakers, and 4,000 participants worldwide to discuss the future of...
- The summit’s topics focused on policies that drive progress and government development, sustainability, and future technology
- The Investopia Summit was launched as part of the WGS 2022 to improve global economic and investment sectors
Economy
Muslims face frugal Ramadan as Ukraine war drives up food prices
Russia's Ukraine invasion, which has already exacerbated food woes in parts of Africa and the Middle East, is marring preparations...
- Russia and Ukraine account for a huge share of the globe's exports in several major commodities such as wheat, vegetable oil and corn
- The disruption in export flows resulting from Russia's invasion and international sanctions has spurred fears of a global hunger crisis
Economy
Russia accused of causing ‘global food crisis’ at UN
'Russia's aggression against Ukraine is increasing the risk of famine around the world,' France's representative to the UN said.
- Russian President Vladimir Putin can stop the global food crisis, US Deputy Secretary of State Wendy Sherman told the Security Council
- According to WFP, Russia and Ukraine export 30% of the world's wheat, 20% of corn, and 75% of sunflower oil
Economy
More than 30 NGOs slam Tunisia economic crimes amnesty
"The criminal reconciliation decree feeds impunity and hides the truth," 34 organizations said in a joint statement.
- Tunisian President Kais Saied has put money-laundering crimes including theft of public funds
- The criminal reconciliation decree do not jail the offender but allows for the 'payment of sums of money'
Economy
‘Saudi Arabia spending on technology is globally the highest’
Digital Government Authority has launched the Digital Government Investment and Procurement Program (SADAF) initiative to accelerate digital procurement in government...
- Digital Government Authority has launched the Digital Government Investment and Procurement Program (SADAF) initiative to accelerate digital procurement in government agencies
- SADAF will be a gateway to digital investment for the public and private sectors, leading to a sustainable digital economy
Business
Qatar to invest $5bn in Egypt, with an eye on offshore gas
The move is being seen as another sign of a growing rapprochement between the two countries following last year's restoration...
- A Cairo statement said Qatar was to plough $5 billion in ‘investments and partnerships’ in Egypt, but did not give specifics
- However, QatarEnergy announced an agreement with ExxonMobil to acquire a 40% interest in a gas exploration block off Egypt
Economy
Palestine wants Russia-Ukraine war to stop: Minister
Hard-pressed to prop up the economy and stem steep price hikes if the Ukraine war continues, Khaled Osaily, Economy Minister...
- "I pray to God to stop this crazy war,"Osaily told TRENDS during a phone interview from Ramallah. "We don't know what will happen tomorrow
- Osaily said the PA's predicaments are worse than those of established states."We are under occupation. We don't have a central bank or currency. We are unable to finance salaries"
Business
Nahdi shares fall 1.26 percent
The firm made a strong debut on the Saudi stock exchange on Mar 22.
- Nahdi's initial public offering price was SR131, raising $1.36 billion in the biggest Saudi IPO since oil giant Aramco.
- Its profits dropped to SR813 million ($216.63 m) from SR849 million ($226.22 m) a year earlier, according to a bourse filing.
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Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister
Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
Economy
Company News
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Five skills workers require in real estate
Saudi Arabia’s real estate sector is evolving with new regulations, creating fresh job opportunities. The latest initiatives seek to enhance...
Videos
Lebanon freezes former central bank governor’s bank accounts
Seen as a key culprit in the country's dramatic economic crash, former governor Riad Salameh's bank accounts were ordered to...
Economy
ESG shapes MENA region’s urban regeneration strategy
ESG principles offer a solution framework as the region faces urbanization challenges, including unplanned settlements in cities like Cairo and...
Economy
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Geostrategy
Russia open to defense cooperation with several countries, says Putin
Moscow is open to equal defense cooperation with all nations seeking to protect their interests, Russian President Vladimir Putin said...
- The Russian leader stressed that the forum had earned recognition as one of the world’s largest exhibitions of advanced military equipment.
- Putin said the event makes a significant contribution to the development of Russia’s multifaceted ties with other countries.
Business
Agility posts Q2 earnings of $46m
Net profit was affected by higher interest rate.
- For the first six months of 2023, Agility’s net profit stood at US$95.5 million.
- There was an increase in debt for financing the firm’s acquisitions last year.
Economy
Saudi Arabia to introduce stricter labour fines, penalties to ensure workers’ rights
Riyadh, Saudi Arabia - The Saudi Ministry of Human Resources and Social Development (MHRSD) is set to introduce a system...
- The companies will face fines for infringements, including the employment of foreign workers without proper permits and disregard for health and safety protocols
- Fines ranging from $400 to $1,333 will be slapped for non-compliance with official health and safety regulations, coupled with inadequate measures to protect workers