Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...Economy Geostrategy
Saudi budget records $10 billion deficit in Q4 2023
Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...Economy
Saudi Arabian delegation visits Oman, to enhance bilateral ties
A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a...A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a visit to Oman.
The Saudi delegation met with Oman's Minister of Transport, Communications and Information Technology Saeed Al-Mawali and Minister of Economy Saeed As-Saqri.
Algeria, France hail ‘new dynamic’ in economic ties
The Algerian and French prime ministers hailed a "new dynamic" as they launched a joint economic forum during a visit...Borne and her delegation are the latest in a string of top European officials to visit Algeria.
The two-day business forum was organized by the Algerian Chamber of Commerce and Industry and Business France, a government agency.
Trio win Nobel for banking’s role in economy, collapse prevention
Ex-Fed chief Ben Bernanke together with Douglas Diamond and Philip Dybvig were honoured for having "significantly improved our understanding of...Bernanke, 68, the chair of the US Federal Reserve between 2006 and 2014, was highlighted for his analysis of "the worst economic crisis in modern history" -- the Great Depression.
Diamond and Dybvig were in turn honoured for showing how "banks offer an optimal solution" for channelling savings to investments by acting as an intermediary.
Markets sink as US jobs data fan rate hike bets
A brief rally across trading floors last week gave way to gloom as investors grow increasingly worried that central bank...All three main indexes tumbled Friday following news that a net 263,000 US jobs were created in September
With the spotlight on a consumer price index reading later in the week, policymakers continue to take a hawkish tone
BoE launches “temporary facility” to ease liquidity pressures
The BoE "announces additional measures to support market functioning", said a statement, adding that the central bank was ready to...The BoE said it is launching a Temporary Expanded Collateral Repo Facility, enabling "banks to help to ease liquidity pressures facing" client funds beyond the end of this week
The central bank has so far made purchases of so-called gilts totalling around £5 billion ($5.5 billion), far less than its £65-billion limit
Jordan fixes bread prices until 2023 amid global grain price hike
According to the cabinet decision, the price of large-sized white pitta bread will remain at 320 fils, while small-sized white...According to the cabinet decision, the price of large-sized white pitta bread will remain at 320 fils, while small-sized white pitta bread will remain at 400 fils
The decision also included continuing to provide $6 in cash support to non-mechanical bakeries, specifically those that use one tonne or less of flour daily
Greece and Egypt call Turkish-Libyan gas deal ‘illegal’
On Monday, Turkey said it had signed a memorandum of understanding on exploration for hydrocarbons in Libya's seas with the...Greece, Egypt and Cyprus believe the 2019 agreement violates their economic rights in an area suspected to contain vast natural gas reserves
The deal follows an agreement Turkey signed three years ago with Tripoli that demarcated the countries' shared maritime borders
Gulf citizens wealthier as oil boom raises revenue
Qatar ranks first in the Arab world and the Gulf region with an annual per capita share of around $183,000,...Bahrain ranked fourth in the Gulf and the Arab world, with an average per capita wealth of $98,000.
Oman was ranked sixth in the Arab world and the Gulf, with an annual GDP per capita of about $39,433.
Remittances from expatriates in Saudi fell 13 percent in Aug
Riyadh, Saudi Arabia - Remittances from expatriates in Saudi Arabia saw a 13 percent year-on-year (YoY) decline to SAR 11.92...On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia rose 3 percent, or SAR 323 million ($85.47m).
Remittances by Saudi nationals to other countries grew 10 percent YoY to SAR 6.33 billion ($1.68bn) in August.
Qatar to hike Jordanian food imports during World Cup
Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected...Qatar relies heavily on Jordanian market for vegetables and fruits.
Volume of Jordan-Qatar trade during the past 10 years amounted to over US$3.17 billion.
