Iran agricultural, food exports hit US$4.8bn in 10 months
TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...Business Economy Geostrategy
Turkey’s inflation 65% in Jan, piles pressure on central bank
Istanbul, Turkey - Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped...Economy
UAE stocks generate strong cash flows Tuesday
FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040.FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040
The ADX-listed ADNOC Distribution was among big gainers, ending 1.09 percent higher at AED4.620, followed by ADNOC Drilling which closed 0.28 percent up at AED3.620
Jordan government committed to public-private engagement
The government is committed to expanding the management consulting services sector's participation in enhancing industrial production processes and facilitating access...Jordan's government views its partnership with the private sector as a cornerstone to achieve economic and social development
The ministry of industry, trade and supply's consulting council was established to formulate economic policy and legislation
Two new solar projects to double Qatar’s renewable energy output
Qatar on Tuesday announced two major solar projects that will more than double its energy output from the renewable source...The plants at Mesaieed and Ras Laffan will take Qatar's solar output to 1.67 gigawatts by the end of 2024, Qatar Energy said in a statement.
South Korean conglomerate Samsung will lead construction of the new solar plants, with an initial investment of more than $600 million.
Aldar says it recirculated $2.39bn into UAE economy through ICV
Aldar Properties said Tuesday that it has recirculated AED8.8 billion ($2.39 billion) to the local economy through In-Country Value (ICV)...The ICV aims to boost economic performance and support local industries by redirecting higher portions of public spending into the national economy.
In its sustainability report, Aldar said that Aldar Projects also signed development project contracts worth AED8.5 billion, including 16 contracts with UAE-based companies.
Sharjah records 2,417 real estate transactions in July 2022
Sharjah Real Estate Registration Department (SRERD) has revealed that total transactions carried out in July 2022 amounted to 2,417 transactions...The department's statistics reveal that Muwaileh Commercial area had the highest number of sales transactions in Sharjah,
SRERD monthly report showed that sales transactions were recorded at 24.3 percent
EGA H1 2022 profit $1.61bn
Cast metal sales rose 11% compared to H1 2021.EGA noted this is its best ever half yearly performance as the first half of 2022 exceeded the net profit of entire 2021.
EGA's adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was $2.07billion in H1 2022.
DEWA breaks own record for overhaul of gas turbines
Dubai Electricity and Water Authority (DEWA) has announced breaking its own world record in major inspection outage duration for the...DEWA has reduced the maintenance outages for critical inspection operations from 11 days to nine days.
There is a reduction in the maintenance duration of 84 percent compared to 2006.
Iraqi Central Bank report shows financial recovery in past 10 years
A Central Bank of Iraq report showed that the unemployment rate rose to 16.5 percent in 2021, compared to 11.9...A Central Bank of Iraq report showed that the unemployment rate rose to 16.5 percent in 2021, compared to 11.9 percent in 2012
As for imports, they decreased from $50 billion in 2012 to $34 billion in 2021, as well as exports which decreased from $94 billion in 2012 to $73 billion in 2021
Central Bank of Kuwait issues $792 million bonds
According to a CBK statement carried by state news agency KUNA, the new securities have a return rate of 2.625...According to a CBK statement carried by state news agency KUNA, the new securities have a return rate of 2.625 percent
On August 8, the bank issued bonds and Tawarruq valued at US$ 526 million with a three-month term and return rate of 2.375 percent
Stocks slide as traders mull Fed outlook, gas price spike
World stocks sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans...The euro is under pressure after Russia's Gazprom said late Friday that the Nord Stream pipeline would be closed for maintenance.
Oil slumped on speculation over an Iran nuclear deal that could ease a supply crunch caused by producer Russia's invasion of Ukraine, as well as recession fears.
