Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business
Economy
EU expects more GCC investors for its special program: Official
On 12th October 2021, the European Commission issued its first-ever NextGenerationEU green bond
- The program is a temporary recovery instrument to help Europe repair the immediate economic and social damage brought about by COVID-19.
- Since June 2021, the European Commission has rolled out five issuances and raised around €71 billion in long-term EU-Bonds, and short-term EU-Bills
Economy
Inflation second on external concern list, worry global CEOs
As prices have surged, inflation has soared as a worry for global executives, overtaking concerns about Covid-19 disruptions in some...
- More than half, or 55 percent, of the group expect to see price pressures through mid-2023 or beyond, said the survey by the Conference Board of some 1,600 global CEOs.
- Inflation ranked as the top concern among European CEOs, but fourth in China and outside the top 10 in Japan.
Geostrategy
Iranian teachers demonstrate in several cities against pension reforms
Hundreds of teachers on Thursday rallied in several Iranian cities to denounce the slow implementation of salary and pension reforms,...
- In Gilan province on the Caspian Sea coast, around 150 teachers marched in the city of Rasht, while another 70 did so in Lahijan, the state broadcaster reported.
- The protesters are demanding that the government move more quickly on a planned grading system for teachers based on experience and performance.
Economy
UN: $3.9 billion needed for help in war-torn Yemen
The biggest constraint right is funding to help some 16 million people, a top UN humanitarian official told the UNSC.
- The biggest constraint right is funding to help some 16 million people, a top UN humanitarian official told the UNSC
- He added that funding has been decreasing in recent years, with last year's response plan only funded at 58 percent
Economy
Gulf watch: Sectors that will grow most in 2022
The business environment in the region will experience a transformation that will have a far-reaching impact on economic trends and...
- The GCC’s non-oil sectors will continue to dominate the economy, creating future opportunities
- The region’s economy may benefit greatly from ecommerce, logistics, and delivery services
Economy
Free Trade Agreement with UAE nearing conclusion, says Indian minister
India’s Minister of Commerce and Industry, Piyush Goyal, on Wednesday told the heads of top business and industry associations in...
- Piyush Goyal urged industry leaders to be proactive in giving inputs to the government on matters like FTA negotiations
- He expressed confidence of growth in services exports, in spite of travel and tourism restrictions caused by the pandemic
Business
UAE, European Union discuss ways to boost cooperation
The meeting was hosted at the UAE Ministry of Finance’s headquarters in Abu Dhabi.
- The Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met on Tuesday with Johannes Hahn, European Commissioner for Budget and Administration
- This discussion is a part of the UAE’s Finance Ministry efforts to strengthen its relations with various countries and regional and international financial institutions.
Economy
Morocco’s GDP expected to grow by 3.2 percent in 2022: World Bank
The World Bank’s Global Economic Prospect reported on Tuesday that Morocco’s GDP is expected to grow by 3.2 percent in...
- Output in 2023 is projected to remain about 5 percent smaller than expected before the pandemic, the World Bank notes.
- The agricultural output returns to historical averages after the extraordinary performance of the primary sector in 2021, a WB report said.
Business
UAE, European Union discuss ways to boost bilateral cooperation
The UAE and the European Union discussed ways of boosting bilateral cooperation between them to achieve mutual benefit across various...
- The Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met on Tuesday with Johannes Hahn, European Commissioner for Budget and Administration.
- This discussion is a part of the UAE’s Finance Ministry efforts to strengthen its relations with various countries and regional and international financial institutions.
Business
Dana Gas, Crescent Petroleum report record sales gas production
Dana Gas and its partner Crescent Petroleum have reported record sales gas production from their operations in the Kurdistan Region...
- Dana Gas and Crescent Petroleum jointly operate the Khor Mor and Chemchemal gas fields on behalf of the Pearl Petroleum consortium.
- The production milestone is the culmination of numerous process improvements at the Khor Mor gas plant, including a bypass project.
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy
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Egypt and Indonesia to ramp up trade exchange
Cairo, Egypt--Egypt and Indonesia will ramp up trade exchange as the two countries look to strengthen the overall ties. This...
Economy
US Fed likely to hike interest rates to 22-year high
The Fed paused its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health...
Economy
Qatar records 70% growth in annual FDI between 2019 and 2022
Doha, Qatar-- Qatar has recorded a 70 percent growth in annual foreign direct investment (FDI) between 2019 and 2022. Just...
Economy
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Economy
UAE and UN to boost climate action cooperation in run up to COP28
New York, US--The UAE and the UN have discussed joint cooperation and partnership on government experience exchange, global climate action...
- The UAE delegation noted the country's initiatives in development including government work, capacity building and exchange of expertise
- They also discussed opportunities to boost cooperation in international initiatives, maximizing the positive impact of climate action around the world
Business
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
- This was announced in the “Delhi Declaration” at the conclusion of the sixth India-Arab Partnership Conference in New Delhi
- Setting up of the Chamber was decided during an earlier session of the India-Arab Partnership Conference held in Muscat
Geostrategy
UAE plays an active role in shaping better future for societies, says minister
NEW DELHI, INDIA – The UAE is committed to playing an active role in global efforts to shape a better...
- The UAE is also committed to enhancing human resources’ contribution to sustainable development.
- The minister applauded all G20 members for “their dedication and commitment to the objectives and vision of the forum.”