Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...
Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon...The auction offered high-quality CORSIA-compliant and Verra-registered carbon credits, with 15 Saudi and regional entities participating in the sale.
The carbon auction is the largest in the world.
Riyadh, Saudi Arabia--Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a program that will leverage its...The Local Content Growth Program will targets Fund’s goal of increasing to 60 percent its contribution and the contribution of its affiliates towards the Saudi economy by 2025.
The Program also includes a Local Content Policy, in which PIF’s portfolio companies will encourage and support local products and services.
The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation.The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation
The decision aims to uphold the CBE’s mandate of ensuring price stability in the local market over the medium term
Prime Minister Mohammed Shia al-Sudani's 21-member cabinet is expected to face myriad challenges. The oil-rich but war-ravaged country is plagued...Sudani, 52, was chosen to form the new government on October 13 following months of infighting between key Shiite Muslim factions
The movement of firebrand cleric Moqtada, Sudani's rival in Iraq's majority Shiite camp, refused to join the government
UN chief Antonio Guterres said he "strongly" believed the deal can promote stability in the region and create "enhanced prosperity...The agreement was signed separately by Lebanon's President Michel Aoun in Beirut and by Israel's Prime Minister Yair Lapid in Jerusalem
US President Joe Biden hailed the "historic" deal, that comes as Western powers clamour to open up new energy production and reduce dependence on Russia
Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of...The euro lost against the greenback on Thursday, after having traded above one dollar for the first time since last month on Wednesday.
After fluctuating for much of the day, Eurozone stocks were flat by late afternoon trading.
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in...Leaders of UAE and Austria affirmed their interest in strengthening bilateral relations, especially in technology, energy, innovation and food security.
The two leaders underscored the importance of taking action to ease tension and promote dialogue to resolve crises with humanitarian, economic and food security implications.
- The US economy rebounded in the third quarter, expanding for the first time this year in welcome news for President...
The latest GDP figures reflect increases in exports, consumer spending and government spending, said the US Commerce Department.
Gross domestic product rose at an annual rate of 2.6 percent in the July to September period, according to Commerce Department data.
Egypt and International Monetary Fund have reached a staff-level agreement on the economic policies to be supported by a 46-month...The Extended Fund Facility with a requested access of about US$3 billion, aims to provide Egypt with balance of payments and budget support, said an IMF official.
EFF will also help in catalyzing additional financing from Egypt's international and regional partners to maintain economic stability.
The IMF had demanded the devaluation as a condition of the loan and the North African nation is among the...The IMF deal is also conditioned on reforms that include further cuts to subsidies, bringing yet more pain for struggling households.
In Aug, global investment firm Goldman Sachs estimated that Egypt would need about $15bn in funding to be able to repay its foreign debt, currently estimated at about $150bn.
