World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...Economy Energy Global Climate Change
Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...Business Economy
Iraq’s oil revenues in 2022 hit four-year high of $115 billion
These revenues follow a spike in prices following Russia's invasion of Ukraine in February 2022, and OPEC producers' subsequent reluctance...Oil production accounts for some 90 percent of Baghdad's income, and the country is the second largest producer within the Organization of the Petroleum Exporting Countries (OPEC).
The country exported more than 1.2 billion barrels in 2022, averaging 3.3 million barrels per day, according to the statement.
Expo Centre Sharjah all set for SteelFab2023
SHARJAH, UAE - Expo Centre Sharjah (ECS) has announced the completion of all preparations for the 18th edition of the...The event is being organized by Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry.
Two hundred exhibitors have confirmed their participation representing elite local and international players in the metalworks industry.
Turkey’s inflation rate slows sharply to 64.3%
Analysts attribute the sharp slowdown to the so-called base effect, which makes year-on-year price increases look smaller when compared to...Consumer prices rose by 64.3 percent in December compared to an 84.4-percent year-on-year increase in November
Turkey's economy has been going through convulsions since Erdogan tried to fight inflation by bringing down borrowing costs
Qatar’s PPI rises by 5.22% in November 2022
On M-o-M basis, the PPI of November showed a decrease of 3.03 percent when compared to October 2022.On M-o-M basis, the PPI of November showed a decrease of 3.03 percent when compared to October 2022
When compared to November 2021, the PPI of Mining for November 2022 showed an increase of 7.72 percent
Evergrande of China pledges to repay its debt in 2023
Beijing, China--China Evergrande has pledged to repay its debt this year, as the property giant faces a restructuring following Beijing's crackdown...The company has rushed to offload assets in recent months and has been involved in restructuring talks after racking up some $300 billion in liabilities
An official document in November showed Evergrande had sold land earmarked for its headquarters in the southern tech hub of Shenzhen for $1 billion
Turkish exports rise 12.9% in 2022, says Erdogan
Erdogan explained that Turkish exports made their way to the markets of 197 countries and regions around the world.Erdogan explained that Turkish exports made their way to the markets of 197 countries and regions around the world
Turkey is seeking to shift to a current account surplus through increased exports and lower interest rates
Iraq PM affirms support for agriculture, industry, tourism and trade
Baghdad, Iraq--The Iraqi Prime Minister Mohammed S. Al Sudani has stressed the need for economic reform and supporting the sectors...The PM said during his visit today to the Ministry of Industry and Minerals, that economic reform is a prelude to social reform
He directed the auditing of industrial development permits and sponsoring small and medium enterprises, due to their role in forming major projects
Gas prices fall to lowest level in Europe since Ukraine war
EU nations have adopted a mechanism to cap natural gas prices, but analysts say it will likely have only a...Gas prices have been falling since August, hitting 73 euros on Monday -- 50 percent down from a month ago and the lowest level since before the war on February 21
European nations filled up their gas storage facilities and launched campaigns to encourage consumers to save on energy during the winter
Singapore economy grows more than expected in 2022
Growth in the fourth quarter came in at 2.2 percent, sharply down from 4.2 percent in July-September, according to advance...Exports for computer chips and other products have been hit by softer global demand caused by surging inflation and sharp increases in interest rates
Research house Capital Economics said it expects exports to fall further on expectations the global economy would enter a recession this year
FMT upholds DFSA decision to slap Arif Naqvi with US$135.56m fine
Almost a year after the Dubai Financial Services Authority (DFSA) imposed a heavy penalty on Arif Naqvi, the founder of...DFSA had held Naqvi responsible for a series of actions during his time as chief of Abraaj, including using investor funds as working capital requirements
The FMT came into play after Naqvi referred the DFSA verdict to the tribunal
