Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...Business Economy Geostrategy Global
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...Business Economy
Silicon Valley Bank demise: US Fed lends banks $12bn to ease stress
The Fed had unveiled the scheme alongside the Treasury and the Federal Deposit Insurance Corporation on Sunday night, as authorities...The outstanding amount of all advances under the Bank Term Funding Program reached $11.9 billion by Wednesday, the US central bank announced in a statement
The new liquidity facility made additional funding available "to help assure banks have the ability to meet the needs of all their depositors," the statement read
India’s Bharat Dynamics Limited picks EDGE’s GradeOne as partner
ABU DHABI, UAE - Bharat Dynamics Limited (BDL), a Defense Public Sector Undertaking under India's Ministry of Defense appointed EDGE's...Established in 2004, GradeOne specializes in defense trading and services and providing various solutions to the military and defense sectors
It is part of the Trading & Mission Support cluster within EDGE, one of the world’s leading advanced technology groups.
Deliveroo 2022 loss at $355m
The firm's revenue rose 14 percent to nearly US$2.4 billion.Deliveroo exited Australia and the Netherlands in 2022, after departing from Spain in 2021.
The company expanded into Qatar last year as it pursues a growth plan of action in Middle East.
JCC discusses trade, commerce in economic summit in France
AMMAN, JORDAN - The Jordan Chamber of Commerce (JCC) took part in the fourth Arab-French Economic Summit 2023 in Paris....Jordan Chamber of Commerce spoke of closer ties with trade and commercial bodies in the European Union member states.
Topics like environment and water, industry, modern construction projects, food, nutrition, healthcare, banking, medicine, funds, climate were discussed.
UAE to invest $30bn in South Korea over the next few years
Abu Dhabi, UAE – The United Arab Emirates will invest $30 billion in South Korea over the next few years,...Korean FDI in the UAE totaled USD2.2 billion up until the beginning of 2021, reflecting a 73 percent growth
These investments are mostly concentrated in finance, insurance, mining, retail, real estate, energy and technology sectors
World Food Program warns funding gaps threaten Yemen food aid
In order to reinstate full food rations for millions in Yemen, the WFP has said that it requires more than...WFP regional director Corinne Fleischer said that WFP's requirements for Yemen are $3 billion until the end of the year in order to revert to full ration
For almost nine years the war in Yemen has caused hundreds of thousands of deaths and has driven the country to the brink of famine
Saudi Arabia aims to diversify, double its economy
"The country continues to grow in various sectors such as the energy sector, including oil, gas, and renewable energy, which...The Kingdom has made significant progress in implementing its ambitious Saudi Vision 2030, says Investment Minister Khalid Al-Falih
He urges the international community to take advantage of the opportunities available in the Kingdom and promote global cooperation
Stock markets sink on banking crisis fears, oil prices fall
Global markets have been rattled by the collapse of tech sector lenders Silicon Valley Bank and Signature, which forced US...Oil prices also dropped, with the main US contract WTI down more than 5% as it fell under $70 per barrel for the first time since Dec 2021.
Shares of Credit Suisse, Switzerland's second biggest bank, crashed by more than 30 percent to hit a record low.
October 2022 OPEC+ oil pact will stay the course, says Saudi energy minister
Riyadh, Saudi Arabia -- As uncertainty in the global economy is limiting clarity about the outlook for oil markets, the...Prince Salman said that sticking to the October agreement is the "sensible and only course of action” for OPEC and its allies.
He said Saudi Arabia has proactively embarked on expanding our capacity to 13.3 million barrels a day by 2027.
Indian, UAE cooperating in green hydrogen development: Indian minister
New Delhi, India -- India’s Minister for New, Renewable Energy and Power, R K Singh said on Tuesday that India...The UAE's expanded cooperation with India in clean energy aims to support New Delhi's ambition to achieve 450 gigawatts of renewable energy
R K Singh said that the bilateral cooperation in renewable energy, similar to the UAE, is being promoted with Australia, Finland and Germany
