Saudi labor market booms amid economic shifts
Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says...
Economy
Qatar backs joint transition to low-carbon energy
Eng. Saad bin Sherida Al Kaabi notes that Qatar has consistently underscored its strong and supportive position regarding natural gas...
Economy
Economy
Jordan woos Russia for local investment
Russian representatives from three provinces met with commissioner general of the Jordan Pavilion at Expo 2020 Dubai.
- Jordan has invited investment from an industrial and economic delegation from Russia
- The Russian delegation represented three Russian provinces
Economy
Morocco Employers’ Association, IMF discuss economic recovery
The president of the CGEM, Chakib Alj, highlighted 15.2 percent growth in the Moroccan economy in the second quarter of...
- The president of the CGEM, Chakib Alj, highlighted 15.2 percent growth in the Moroccan economy in the second quarter of 2021
- The kingdom also recorded a 22.1 percent increase in exports between September 2020 and September 2021
Economy
IMF says Omicron could slow global growth
According to the economists, Omicron's threat to economy will likely be less severe than the previous waves.
- The emergence of omicron led to a major crash in the global stock and oil markets in late November
- WHO highlighted the issue of inequitable distribution of vaccines on several occasions
Economy
Iran non-oil export reaches $27b in 7 months
The deputy minister Mehdi Sadeqi Niaraki argued that production growth is one of the main strategies to develop the Islamic...
- The country has allocated five billion dollars to remove obstacles in the way of exporting Iran-made products
- According to statistical reports, 15 out of 25 industrial fields have experienced growth and the home appliances industry has seen an 8 percent growth
Geostrategy
UAE, France sign MoUs, $18bn Rafale deal
The agreements will boost the strategic partnership between the two countries to serve their mutual interests.
- The agreements will boost the strategic partnership between the two countries to serve their mutual interests
- The signing was attended by Crown Prince Sheikh Mohamed bin Zayed Al Nahyan and President of France Emmanuel Macron
Economy
Tunisia’s budget deficit narrows to nearly $1.3 billion at Sept end
Tunisia's budget deficit has narrowed to nearly 3.8 billion ($1.3 billion), at the end of September 2021, against 4.9 billion...
- The decrease in the budget deficit is due to the increase in budgetary resources by 10.3 percent
- The Ministry of Finance also reported the increase in cash resources by 18 percent to 12.8 billion dinars.
Economy
Capital Economics says Saudi economy will boom in Q4
Saudi Arabia will see a strong economic growth in the fourth quarter of 2021, due to a high oil production...
- According to a report by Capital Economics some 9.76 million barrels per day were produced in October, broadly in line with pre-virus levels of output
- Growth in local deliveries of cement – a proxy for construction activity – picked up in October
Economy
Annual Turkish inflation surges to 21.31% in November
Turkey's annual inflation rate jumped over 20 percent in November, official data showed Friday, after a currency crisis last month...
- This is the highest figure in three years. Persistent inflation has decimated purchasing power
- Ratings agency Fitch on Thursday revised its outlook on Turkey's sovereign credit rating to negative
Economy
IMF says chief economist taking top leadership role
Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva.
- Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva
- Gopinath, who was appointed to her current role in October 2018, was due to return to her position at Harvard University in January but will now leave the university
Business
London based firm seeks investment opportunities in Jordan
"Jordan represents a unique and strategic opportunity for global investors. We are looking forward to strengthening our ties further in...
- This is a major move for RiverBay Capital on its mission to provide Europe with institutional access to markets in the Middle East
- RiverBay Capital has successfully established itself as a bridge between real estate markets in Europe and the Middle East
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Saudi labor market booms amid economic shifts
Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says...
Economy
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Qatar hosts over 2m visitors in first half of 2023
Doha, Qatar - Qatar Tourism said on Thursday that the country received more than two million visitors during the first...
Economy
Abu Dhabi crown prince reviews progress of government projects in emirate
Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin...
Economy
UAE, French ministers review ties, economic cooperation
Abu Dhabi, UAE - The United Arab Emirates and France reviewed the prospects of growing bilateral trade exchanges and advancing...
Economy
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Business
OPEC anticipates 2.2% growth in oil demand in 2024
Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in...
- In its Monthly Oil Market Report, the OPEC said the World GDP growth in 2024 is forecast at 2.5 percent, slightly below this year’s expected growth level of 2.6 percent
- The world economic growth in 2023 is to remain broadly unchanged at 2.6 percent, with the initial forecast for 2024 economic growth expected at 2.5 percent
Economy
Will extended oil production cuts stunt Saudi growth?
The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
- The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain a key source for its revenue, say experts
- Amidst varying projections, the overall concern is clear: the extended cuts could strain the economy and may even lead to contraction if the trend continues into 2024
Business
ExxonMobil to buy Denbury
ExxonMobil will acquire Denbury for $4.9 billion.
- The all-stock acquisition provides ExxonMobil with Denbury's carbon dioxide pipeline network in Texas, Louisiana and Mississippi.
- Oil companies have championed carbon sequestration as a major response to climate change.