Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...Business Economy
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...Business Economy
Saudi Arabia’s oil exports fell by nearly 38 percent in May
The share of oil exports in total exports decreased from 80.8 percent in May 2022 to 74.1 percent in May 2023, according to...Non-oil exports (including re-exports) decreased by 8.7 percent, compared to May 2022, decreasing to SAR 25.1 billion from SAR 27.5 billion in May 2022.
The value of imports amounted to SAR 67.7 billion in May 2023 compared to SAR 56.0 billion in May 2022.
Jordan and Iraqi PMs renew pledge to boost economic ties
Baghdad, Iraq-- Jordan and Iraq have renewed pledge to strengthen economic cooperation in a meeting between the kingdom's Prime Minister...The two prime ministers resolved to boost volume of trade exchange, expanding cooperation in the economic, trade and investment fields
They also lay stress on ramping up cooperation in the field of energy, completion of the electrical interconnection project between the two countries
KNPC exports first shipment of 95 octane motor fuel to Europe
Kuwait City, Kuwait--The Kuwait National Petroleum Company (KNPC) has exported the first shipment of 95 octane motor fuel and low-sulfur...The deputy CEO of the company said that the first shipment was loaded on board the oil tanker Pacific Sarah from Mina Al-Ahmadi
He said the shipment was dispatched in close cooperation and coordination with Kuwait Petroleum Corporation's international marketing sector
Iran clothing industry employs over 2m people: official
Tehran, Iran – The clothing industry in Iran which employs around two million people grew by 17 percent last year...Currently 100,000 production units have been registered in the garment industry
These statistics do not include the stores operating on the virtual space and also unauthorized people
COP28 urges governments to make ‘food systems’ central to climate change
Dubai, UAE-- Calling on governments around the world to demonstrate leadership by signing the "Leaders Declaration on Food Systems, Agriculture...The presidency exhorted stakeholders in the food and agriculture sectors to speed up existing initiatives across food systems, agriculture, and climate action
It also pleaded for action to ramp up innovation in the sectors in order to drive both development and climate action, leveraging mechanisms
Saudia Cargo signs deal with Jan de Rijk
It will enable Saudia Cargo to widen network in Europe.As per the terms of the deal, Saudia Cargo will use Jan de Rijk's extensive trucking network to shore up its operations in Europe
Set up in 1971, Jan de Rijk Co, is a leading provider of European transportation, distribution services, and supply chain management solutions
Eurozone witnesses steepest downturn in eight months in July
The painful PMI data comes as the European Central Bank is eyeing a further rate hike this week in its..."The eurozone economy will likely move further into contraction territory in the months ahead, as the services sector keeps losing steam."
The eurozone's struggles were fueled by steep downturns signaled by surveys from economic powerhouses France and Germany.
Abu Dhabi Maritime signs MoU with ADNOC Distribution
It seeks to enhance emirate's coastal and marine locations.The agreement between the two underscores the ongoing effort to strengthen Abu Dhabi's maritime sector
Director-General of Operational Affairs at the DMT said that "together, we will unlock the untapped potential of our shores"
Jordan and Algeria look to ramp up trade, parliamentary ties
Amman, Jordan--Jordan and Algeria are looking to boost trade and parliamentary relations to further enhance bilateral ties between the two...The head of the Jordanian-Algerian Parliamentary Committee and Algerian ambassador discussed boosting of ties between the two countries
The ambassador reiterated her country's commitment to improving ties with the kingdom, adding that a tax-free customs zone will be set up in the near future
Ruwad approves financing for several projects in various sectors
Sharjah, UAE-- Ruwad, or the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad), has approved the financing of three projects after...In the second quarter of this year, Ruwad received some 102 application from projects for the Ruwad membership, of which 66 were approved
According to Ruwad, the food sector stood at top of the list that secured the membership during the second quarter of 2023
