GCC, OPEC boost ties to stabilize global oil markets
During his meeting with OPEC Secretary General Haitham Al Ghais, Albudaiwi praises the significant efforts of OPEC and its crucial...Economy Energy
Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...Business Economy Global Markets
Food prices declined in October, says Jordan trade minister
AMMAN, JORDAN - Jordan Minister of Industry, Trade and Supply and Minister of Labor Yousef Shamali said Monday that food...The minister attributed the decline to falling oil prices and its impact on production and transport costs.
He said that the fall in the prices of food is also due to measures taken by the government.
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...UAE Minister of Industry said effective climate action accelerates opportunities for sustainable economic and social development.
The minister said that the President's speech emphasized that continuity and perseverance are at the core of the UAE’s strategy.
COP27: Choose climate solidarity or collective suicide, UN chief tells world leaders
Humanity is in "the fight of our lives" as climate change intensifies droughts, floods and heatwaves, UN chief Antonio Guterres...The UN chief called for a "historic" deal between rich countries and emerging economies that would aim to reduce emissions.
The UN chief said the target should be to provide renewable and affordable energy for all.
Stocks rise, oil falls tracking China lockdown policy
Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its...The dollar was down against key rivals ahead of this week's US midterm elections.
Global markets and oil prices were buoyant last week on hopes Beijing may begin to roll back policies aimed at stamping out the disease within its borders.
Oman state budget surplus $2.92 billion by September end: Ministry
Muscat, Oman---Oman’s budget achieved a surplus of RO 1.123 billion ($2.92 billion) at the end of September 2022, the country's...The country reported deficit of RO 1.030 billion for the same period last year, the finance ministry said.
Oman's public revenues were up by more than 43 percent due to an increase in oil prices and production.
Jordan’s real estate trading up 23% in January-October of 2022
AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October...State's revenue from the real estate market stood at US$344 million by the end of October in Jordan.
Trade volume in the Jordanian real estate market went up in October 2022 by 21 percent compared to October 2021.
WTO urges countries to lift green trade barriers
The World Trade Organization urged countries to abolish trade barriers in environmental goods and services to help fight climate change....Trade is a force for good for climate and part of the solution for achieving a low-carbon, resilient and just transition, the WTO said.
Reducing tariffs and non-tariff measures on energy-related environmental goods could increase exports of these products by five percent by 2030, the WTO said.
Vietnam struggles to shake off its coal addiction
During the COP26 climate summit last year, the government boldly promised to end the construction of new coal plants and...Vietnam pledged to reach net-zero carbon emissions by 2050, but with coal and gas still a major part of its energy mix one year later, that commitment is on shaky ground
G7 countries could announce billions of dollars in funding to help steer Vietnam away from fossil fuels and the country could attract billions more in clean energy investment
UAE removes most Covid restrictions and eases mask rules
Dubai, UAE—The United Arab Emirates has dropped almost all Covid restrictions as the rate of infection considerably drops in the...Wearing masks in the UAE will now be optional in all open and closed facilities, including places of worship and mosques
Organizers of sports activities also have the option to require PCR tests or vaccination certificates as requisite to participate or attend their events
China exports fall in October, first decline since 2020
The slowdown in trade comes as global demand for Chinese products weakens with energy prices soaring and the United States...Exports fell 0.3 percent year-on-year in October, according to the General Administration of Customs
Year-on-year imports were down 0.7 percent in October, negative for the first time since March this year
