China’s Xi promises US$50 billion for Africa over next three years
China, the world's number two economy, is Africa's largest trading partnerEconomy
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...Business Economy
Mega projects bet high on diversified future
This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high...Saudi Arabia has allocated $250 billion in construction contracts since 2016 as part of its Vision 2030 strategy to diversify economy, attracting tourists and investments
In 2022, Saudi Arabia emerged as the fastest-growing G20 economy, fueled by a massive $1.25 trillion investment in real estate and infrastructure projects
IMF head urges G20 leaders to deliver promised US$100bn for climate finance
New Delhi, India-- Appealing to G20 members to lead by example in delivering on the promise of US$100 billion per...Ahead of COP28, the IMF managing director said that target must be raised to reduce emissions to prevent grave risks to economic well-being
She urged countries to mobilize domestic resources to finance and manage the green transition through tax reforms, efficient public spending
Global food prices drop in August: FAO
Led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations revealed that its...Its Cereal Price Index dropped by 0.7% from July and International wheat prices dipped by 3.8% in August
But in contrast, the FAO All Rice Price Index climbed up by 9.8% from July to reach a 15-year nominal high
Deadliest quake in decades kills over 1,000 in Morocco; rescue bid is on
Following the devastating earthquake in Morocco on Saturday that killed more than 1,000 people so far, the UAE, Iran, Iraq,...Tremors felt in major cities including Rabat, Casablanca, and Essaouira, say reports
International leaders, including UAE President, extend condolences and offer aid.
UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties
NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to...The meeting was held on the sidelines of the 18th Group of 20 (G20) Heads of State and Government Summit in New Delhi.
The two sides also exchanged views on various regional and international developments of mutual interest.
Jordan-ASEAN Economic Forum to be held in March 2024, says ACC
AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with...ACC will host the forum, in cooperation with Malaysia, Indonesia, the Philippines, Thailand and Sultanate of Brunei.
Trade exchanges between Jordan and ASEAN grew by 42 percent during 2022, compared to 2021, ACC's statistical data said.
Data, rail, electricity key focus as G20 eyes EU-Middle East-India trade plan
Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and...Washington, Saudi Arabia, the EU, the United Arab Emirates and others will sign the deal on the sidelines of the G20 summit in New Delhi
Washington actively prods Riyadh - a major oil producer and security partner - to normalize ties with Israel after decades of conflict and closed borders
With no deal in place with Ukraine, Russia starts grain supply initiative
Moscow, Russia - Russian Deputy Foreign Minister Sergey Vershinin has confirmed the commencement of the implementation of the Russian grain...The initiative was initially proposed by Russian President Vladimir Putin, who pledged to provide one million metric tons of grain at a preferential price
Vershinin stated that practical steps are now being taken, including communication with the involved parties to establish a trilateral agreement
‘Qatar leads the charge in food security initiatives’
Several ministers of agriculture and food security from UN's Food and Agriculture Organization member states at the event discussed key...Qatar plays a major role in advancing food security at local, regional, and global scales, says Qatar’s Municipality Minister
The country's key initiatives include dairy cow importation, poultry self-sufficiency, and innovative greenhouse techniques
West blocked Russian assets worth $280bn, says US treasury
Washington, US - The REPO (Russian Elites, Proxies and Oligarchs) task force, set up to search and freeze Russia-related assets, estimates the...“The total value of assets is estimated at around $280 billion, the majority of which is held in the European Union,” the US Department of the Treasury said.
Reportedly, the task force has completed its “initial effort to map and account for Russian sovereign assets that are immobilized and held in REPO member jurisdictions".
