Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...Business Economy Geostrategy
Qatar minister urges Gaza ceasefire to end Red Sea insecurity
The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...Economy Energy
Early preparations put GCC in better place to face tough economic conditions: Saudi finance minister
Saudi Arabia has prepared for years for the conditions that the world is witnessing, which enabled it to be in...Saudi Arabia has prepared for years for the conditions that the world is witnessing, which enabled it to be in a better status than many other countries, says Al-Jadaan in Riyadh
Saudi Arabia is mobilizing the capabilities of multilateral development institutions to ensure support for regional countries, the Kingdom's Finance Minister added.
China fiscal deficit balloons to nearly $1trn as economy cools
According to an analysis based on data released by Beijing's Ministry of Finance on Tuesday, the budget shortfall for all...China is also battling an unprecedented crisis in its real estate sector, which makes up more than a quarter of the country's GDP when combined with construction
Consumer demand has also been dampened by sudden lockdowns and strict travel restrictions under Beijing's strict zero-Covid policy
Israel’s cost of living crisis becomes election issue
Israel, with its turbulent politics, heads back to the polls next Tuesday, for the fifth general election in less than...Much of the world has endured rapid inflation since Russia's war in Ukraine started early this year, driving up energy and food prices everywhere
But in Israel the problem has been acute for years, blamed in part on the strong shekel which makes imports more expensive
‘World Cup is crucial — both economically and culturally — and Qatar is ready to prove itself’
Qatar is currently more like a workshop of preparation and equipping, in which Qataris and residents have engaged. Brotherly and...Qatar's GDP during the first half of this year increased by 4.3%, supported by a 7.3% growth rate of the non-oil sector
The hike in energy prices turned a projected budget deficit at the beginning of the year into a surplus of about QAR 47.3bn in H1
Al Seer Marine buys large crude carriers
The firm's total VLCC fleet value is now $245 million.VLCC Acrux (previously Elandra Everest) is the name of the third VLCC vessel Al Seer Marine has taken delivery of in October 2022.
In addition to the three VLCCs, Al Seer Marine recently acquired two liquefied petroleum gas (LPG) tankers valued at US$70 million.
‘UAE government revenues rose by 26% in 2021’
ABU DHABI, UAE - In the UAE the revenues at the federal level increased by 26 percent from US$100 billion...Social contributions in the UAE also rose from US$3.5 billion (AED12.9 billion) in 2020 to $3.6 billion (AED13.5 billion) in 2021.
The value of other revenues increased by 24 percent from $55.4 billion in 2020 to $68.5 billion in 2021.
GM posts Q3 profit of US$3.3b
US automaker was bolstered by strong vehicle pricing.Revenues jumped 56 percent to $41.9 billion, a quarterly record.
GM Chief Financial Officer Paul Jacobson acknowledged rising worries about the drag from inflation on economic growth.
UBS Q3 net profit is US$1.7b
The bank income in Q3 fell by 10 percent to $8.2billion.The energy crisis had affected their retail and small business clients in Switzerland.
The CEO of UBS said clients are concerned about high inflation, elevated energy prices and the war in Ukraine,
SALIC, Minerva Foods buy Australian Lamb Company
ALC is one of the largest meat producers in Australia.The acquisition was done through Minerva Foods Australia, a joint venture established last year between SALIC and Minerva in Australia.
ALC operates two processing facilities in Victoria State, with a capacity to process up to 3.78 million heads annually.
Saudi Arabia key place for solutions to global supply chain issues, says investment minister Khalid Al Falih
Saudi Investment Minister was speaking at the Sixth Edition of the Future Investment Initiative, hailed as 'Davos in the Desert',...George Osborne, Former First Secretary of State, UK said the US and China need to find a way to work together in order to make the world a better place.
Some rules and policies that came into existence post WW II are not fair to many Asian and African nations, said Senegal's president Macky Sall.
