Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
Economy
Business
Sharjah Entrepreneurship Foundation discusses SMEs funding requests
The Project Finance Committee of the Sharjah Entrepreneurship Foundation (Ruwad) has approved AED300,000 finance for a project that will work...
- The Foundation’s Project Finance Committee approved AED300,00 finance for a health fitness service program.
- The total approved financing by the end of February amounted to AED33 million, of which AED14.4 million were directly financed by the institution.
Economy
Jordan’s real estate trading at JD73 5mn in 2022
The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at...
- The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at JD32.4 million up 15% from the figure reported in 2021
- Overall real estate sales in the Kingdom in the period decreased by 10 percent, as apartment sales declined by 5 percent
Economy
Aluminium, copper prices hit records on Ukraine fallout
Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne.
- Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne
- Commodities have been red hot since Russia's assault on its neighbour, with gold on Monday back above $2,000 an ounce
Economy
Nightmare of underage marriage for Moroccan girls
Rights groups say that marriage of girl child is widespread in remote, landlocked and marginalised areas in the country.
- Precarious livelihoods and long-held traditions in Morocco's backward areas hinder mission of spreading awareness on women's issues
Economy
Jordan commerce chamber says Ukraine crisis will affect market
Nael Kabariti, who is the JCC president, said the Ukraine crisis has led the prices of staples to shoot up.
- Nael Kabariti, who is the JCC president, said the Ukraine crisis has led the prices of staples to shoot up
- Kabariti added that the war has heavily impacted the world basket and disrupted the shipping and export chains
Economy
Gunmen cause shutdown at two oil fields in Libya
The National Oil Corporation declared “force majeure” at the Al-Sharara and Al-Fil fields due to the shutdown, according to a...
- The National Oil Corporation declared “force majeure” at the Al-Sharara and Al-Fil fields due to the shutdown, according to a statement published on Facebook
- Oil revenues are vital to the economy of Libya, a country sitting on Africa’s largest known reserves
Economy
Brent crude nears $140 per barrel, headed towards all-time high
Brent North Sea crude oil for May delivery reached $139.13 shortly after electronic trading opened around 2300 GMT on Sunday.
- Even if oil is technically still exempt from sanctions, Russian oil exporters are struggling to find buyers
- Shell is one of the only companies still buying Russian oil, although it said it would donate the profits to Ukrainian causes
Geostrategy
UAE, Israel work to secure region’s food needs
Government support, coupled with strong social systems, must ensure that no one goes hungry, says Nobel Laureate Dr Dan Shechtman
- Enhancing collaboration between research institutes and agritech companies in Israel and the UAE will be pivotal to secure region's food future, say Israeli experts
- Arab region needs to develop the knowledge to grow crops in arid conditions, says Dan Shechtman of Israel Institute of Technology
Business
Saudi Arabia hikes oil price as Russia-Ukraine war presses on
Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a...
- Saudi Arabia's state oil producer Aramco raised the official selling price
- Aramco hiked all prices for the American customers by $1
Business
Turkey tourism industry bemoans Russia-Ukraine war
Every Sunday Noori Sani welcomes his old friends around a bountiful Turkish breakfast in Istanbul. But surrounding him now are...
- Within a few days of Russia's invasion of Ukraine on February 24, Ukrainians and Russians cancelled reservations for trips of Turkey
- Visitors from Ukraine and Russia made up over a quarter of all tourists who arrived in Turkey last year, tourism ministry reported
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Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
Company News
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Turkish inflation surges in July at 47.83 percent
The new figure comes as Turkey radically shifts its policies since the May election that includes an end to more...
Economy
Kenya suspends Worldcoin crypto over privacy concerns
Users who registered with the Worldcoin cryptoproject in Kenya were offered 25 free Worldcoin tokens worth about 7,000 shillings ($45),...
Business
Global trade in goods, services worth US$31trn in 2022: WTO
Dubai, UAE--Trade in goods and services amounted to US$ 31 trillion in 2022, a 13% rise year-on-year. According to the...
Economy
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Economy
UAE president and Jordan’s king renew resolve to boost ties
The talks between Sheikh Mohamed bin Zayed and King Abdullah focused on ways to ramp up cooperation across key strategic...
- The meeting between the UAE president and Jordan's king took place at Basman Palace in Amman during the president's official visit to Jordan
- The two leaders discussed various aspects of UAE-Jordan cooperation and opportunities to build on the deep, historic ties between both nations
Business
Global outstanding sukuk cross $800bn for first time: Fitch Ratings
Sovereigns were the key issuers. Fitch said the pricing of most sukuk and comparable bonds continued to be similar and...
- Most Fitch-rated sukuk are senior unsecured obligations of the issuer and rank equally with other senior unsecured obligations, including bonds.
- Most Fitch-rated sukuk continued to be investment-grade at 79%, with 12.6% of issuers having a Positive Outlook, and 77.5% having a Stable Outlook in Q2.
Economy
‘UAE’s compliance level high in anti-money laundering’
She adds that the Ministry’s participation in this workshop forms part of its commitment to fostering regional and international cooperation...
- The UAE has achieved the highest compliance levels in anti-money laundering, developing an advanced ecosystem in line with global best practices
- The Gulf country seeks to foster regional and international cooperation with partners, contributing to establishing a sustainable AML ecosystem