Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...Business Economy Energy
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...Business Economy Energy
Saudi Arabia, Turkey sign deals during ‘Turk Expo 2023’ in Riyadh
Riyadh, Saudi Arabia--Saudi Arabia and Turkey have signed three agreements in the industrial sector during the Turkish Export Products Trade...The trade fair is designed to introduce the Turkish products and services to the Saudi market
Trade exchange between Saudi Arabia and Turkey in 2022 amounted to about $5.86 billion
Egypt’s president meets Russian envoy in Cairo in sign of closer ties
Renewing their commitment to "continuing to strengthen bilateral relations", Egyptian President Abdel Fattah al-Sisi met with a senior Russian delegation...The Russian delegation's visit came two days after the Hague-based International Criminal Court announced an arrest warrant for Putin on the war crimes
Before the outbreak of war, which has entered its second year, 85 percent of Egypt's wheat imports were sourced from both Russia and Ukraine
US Fed, other central banks move to boost global dollar liquidity
The central banks will step up so-called swap line operations, which give non-US central banks greater access to dollars. "To...The special drive will be launched Monday by the Fed and the central banks of Canada, the UK, Japan, the EU and Switzerland
The announcement came hours after Switzerland brokered the UBS takeover of its troubled Swiss rival Credit Suisse
Saudi Arabia expands economic diversification plan
The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the electronic games...The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the e-game sector
Saudi Arabia, which is seeking alternatives to crude oil revenues, is planning to invest US$37.8 billion in electronic gaming initiatives and programs through PIF
UAE, Serbia discuss cooperation in R&D, innovation
BELGRADE, SERBIA - UAE Minister of State for Public Education and Advanced Technology Sarah Al Amiri discussed cooperation in research...The UAE minister discussed ways to enhance cooperation between the two nations in her visit to Serbia.
She also discussed ways and means to strengthen the education system and vocational schools.
Tadawul market cap vaults 477% to US$2.6trn over last 5 years: CMA
Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion...Yazid Al-Dumaiji disclosed that there are almost 80 applications under review for initial public offering (IPOs)
He said Tadawul witnessed a rise of 388% in foreign investments to reach a historical level of US$93 billion in 2022
Former US President Donald Trump claims his arrest is imminent
Donald Trump called on his supporters to "protest, take our nation back", as he expects to be arrested over an...A conviction in the hush money case would not prevent Trump from running, but an indictment can have major consequences
Denouncing Trump's announcement as "reckless, Nancy Pelosi said it would foment unrest among his supporters
Ukraine grain deal extended, says Turkey’s President
Turkey announced the extension of a deal that has allowed exports of Ukrainian grain to resume following Russia's invasion, but...Turkey and the United Nations did not specify the duration of the grain deal.
A deal brokered by Turkey and the United Nations in July 2022 - and signed by Kyiv and Moscow - had allowed for the safe passage og grain supplies.
Reform of multilateral financial institutions must for climate action, says Dr Al Jaber
PARIS, FRANCE Â - Â COP28 President-Designate Dr. Sultan Al Jaber met French President Emmanuel Macron and outlined his vision on the...The UAE minister stressed on the need to deploy all necessary resources to transform the global energy systems.
Dr. Al Jaber emphasized the need for ambitious reforms across international financial institutions and multilateral development banks.
Jordan Chamber of Commerce, Hungarian envoy discuss economic ties
AMMAN, Â JORDAN - Â Vice President of the Jordan Chamber of Commerce (JCC) Jamal Rifai discussed with Hungarian Ambassador to Jordan...The joint Jordanian-Hungarian committee aims to present investment opportunities in the two countries.
In 2022, Jordan's exports to Hungary was worth US$1.15 million and imports were US$34 million, as per official data.
