Chinese leaders seek ways to boost economy in key event
Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...
Geostrategy
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Business
New South Wales displays agri-food innovations at Expo 2020
The Australian state of New South Wales (NSW) displayed its agri-food innovation and manufacturing capabilities to strengthen further its ties...
- New South Wales highlighted its prominent companies in agtech, food & beverages besides prime investment opportunities.
- The event saw six NSW companies pitched their businesses to the buyers, investors, distributors and retailers present in the audience.
Economy
With Spanish funds, Lebanon plans to revive railway out of service since ’70s
Lebanon's transport minister has said that Spain will finance a plan to revive the railway network that has been out...
- Lebanon had a railway network since the end of the 19th century which connected Beirut to the Syrian capital Damascus.
- It was built during Ottoman rule and inaugurated in 1895, operating until the devastating civil war begun 47 years ago.
Economy
Russia-Ukraine conflict: GCC can fill the energy gap
The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil...
- The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil flows from Russia, according to the Institute of International Finance
- The brent oil prices surged to US$100 per barrel for the first time in eight years after Russia attacked Ukraine
Economy
Saudi Arabia overall export rose 62.6% y-o-y in December
GASTAT data said the value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021.
- The total value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021
- This was up from the SAR65.3 billion ($17.41 billion) that Saudi Arabia had in December 2020
Economy
Russian central bank to intervene as ruble, Moscow exchange plummet
The ruble-dominated Moex index opened down 13.97 percent, while the dollar-dominated RTS was down 20.16 percent.
- The central bank measures are intended to provide ‘additional liquidity to the banking sector’ in Russia
- This, as Western sanctions loom after the military operation announced by Vladimir Putin against Ukraine
Geostrategy
Russia attack on Ukraine turns Europe eyes to Saudi Arabia, Qatar
Qatar and Saudi Arabia host American troops, but their economic and political relations with Russia have grown over the years.
- Russian gas accounts for about 40 percent of the European market, leaving it highly exposed to supply disruptions due to the conflict
- A similar logic applies to the 2.3 million barrels of Russian crude that heads west each day through a network of pipelines
Economy
IMF official urges ‘deep reforms’ to Tunisian economy
Tunisia's debts have soared to nearly 100 percent of Gross Domestic Product.
- Tunisia's debts have soared to nearly 100 percent of Gross Domestic Product
- Its GDP plunged by almost nine percent in 2020, the worst rate in North Africa
Arts & Culture
Lebanon turns to public libraries for entertainment as crisis drains joy
Weekly storytelling events are one of the last affordable pleasures in Lebanon, where a crashing local currency has rendered books...
- The cost of printing and buying books has soared in Lebanon, while the monthly minimum wage is currently valued at $32
- All new books were priced in dollars, and therefore hit by the fluctuating exchange rate of the Lebanese pound
Geostrategy
Oil price break $100 on Russian ‘military operation’ in Ukraine
According to the UN, a full-scale Russian invasion on Ukraine would have a devastating global impact that would likely spark...
- The crisis comes as governments struggle to contain runaway inflation fueled by demand as life returns after recent Covid-19 lockdowns,
- World Markets have been hammered since a week as the Kremlin recognized Ukraine's rebellion and said it would provide "peacekeepers" to the regions
Economy
Workers go on strike in Turkey as inflation sinks lira deeper
Soaring inflation in Turkey has propelled a wave of strikes unlike any the country has seen since the 1970s, as...
- Supermarket warehouse worker Bekir Gok was sacked this month -- alongside 256 of his colleagues -- for demanding an extra four Turkish liras (30 US cents) per hour
- Turkey's annual inflation rate officially reached 48.7 percent in January, and workers have struggled to keep up with the sky-rocketing cost of living
Most Read
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
Chinese leaders seek ways to boost economy in key event
Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...
Geostrategy
Company News
Latest News
Qatar National Bank foresees recession in US economy
Doha, Qatar--Qatar National Bank (QNB) Group foresees a recession in the US economy during the upcoming 12 months, pointing out...
Saudi Arabia turns to maritime to diversify revenues
Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to...
Economy
UAE finance ministry unveils new corporate taxation rules
ABU DHABI, UAE - The UAE Ministry of Finance (MoF) on Saturday announced administrative penalties for violations related to the...
Geostrategy
Most Read
Business
Seventh Al Dhaid Date Festival witnesses huge turnout
SHARJAH, UAE – The seventh edition of Al Dhaid Date Festival continues to captivate participants and visitors alike, in a...
- The event has been organized by the Sharjah Chamber of Commerce and Industry and is hosted at Expo Al Dhaid.
- The date festival has also attracted various official delegations and representatives from government institutions.
Business
UAE is fourth biggest market for Indian spices
NEW DELHI, INDIA - The UAE ranked fourth in the world among the top 12 markets for Indian spices in...
- World Spice Congress 2023 is being organized on the sidelines of the G20 Summit to be held in New Delhi in September.
- India produces 75 spices out of the 109 varieties listed by the International Organization for Standardization (ISO).
Economy
Jordan’s exports to EU climb 23.4% to US$192m in first five months of 2023
Amman, Jordan--Jordan's exports to the European Union (EU) shot up 23.4 per cent during the first five months of 2023...
- The value of the kingdom's imports from the EU during the first five months of 2023 rose 3.6 per cent to $1.66 billion
- Germany topped the list of countries from which Jordan imports, with the value of import climbing to $356 million