GCC central banks mimic Fed, hold interest rates steady
Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation...Economy
Qatar awards $6bn in contracts for Al-Shaheen oilfield expansion
The four engineering, installation and procurement contracts will increase production at the Al-Shaheen oilfield -- the country's largest -- by...Business Economy
Germany’s economic model wobbles amid energy crisis
Germany's second-quarter growth figures to be published on Friday are expected to be meek as the outlook for Europe's largest...Less expensive to produce and transport, with prices pinned down in long-term contracts, Russian gas has for decades contributed to Germany's economic prosperity
To wean itself completely off Russian gas, Germany is looking further afield for new supplies including shipments of liquefied natural gas from the United States and Qatar
Asian markets rise as US data boosts hopes of slower Fed hikes
Asian stocks rose Friday after data showing another contraction in the US economy boosted hopes that the Federal Reserve will...After an extended period of pessimism on trading floors fuelled by soaring inflation, investors are beginning to speculate that the market may have reached its nadir
The prospect of US rates not rising as fast as previously expected hit the dollar, which has soared in recent months against most other currencies
Algeria, Nigeria, Niger discuss gas pipeline to Europe
The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres (2,565 miles) from Nigeria...The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres (2,565 miles) from Nigeria in West Africa
Algeria, Africa's largest natural gas exporter, has already seen increased demand following Moscow's invasion of Ukraine
Macron welcomes Saudi Crown Prince, two discuss energy supply
French President Emmanuel Macron on Thursday warmly welcomed Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris, with...Crown Prince and the French President held an expanded meeting in the presence of the delegations of the two countries, according to Saudi Press Agency
For western countries desperate to find new sources of energy, the 36-year-old de-facto leader of the world's biggest oil producer has become an essential figure.
US Department of State releases 2022 Investment Climate Statements
The US Department of State released on Thursday the 2022 Investment Climate Statements, which help US companies make informed business...These help US companies make informed business decisions by providing up-to-date information on the investment climates of more than 160 countries.
The statements also assess how governments uphold international labor standards and combat corruption among other considerations.
UAE, Kenya to begin negotiations on free trade agreement
UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries...UAE and Kenya announce their intention to begin talks for a Comprehensive Economic Partnership Agreement
If inked, the CEPA pact will be the first free trade deal between UAE and an African nation
ADNOC eyes stake in key Egypt firm
ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Saudi economy to be fastest-growing economy in 2022, says IMF
The International Monetary Fund (IMF), in its World Economic Outlook, 2022 said that the Saudi economy will register a 7.6...The International Monetary Fund in its World Economic Outlook, 2022 says the Saudi economy will register a 7.6 percent growth rate this year
Saudi Arabia's expected growth, as per IMF, would be the highest among advanced, emerging market and developing economies
UAE launches Power to Liquids roadmap to decarbonize aviation sector
The United Arab Emirates has launched the Power-to-Liquids (PtL) Roadmap: Fueling the Aviation Energy Transition in the United Arab Emirates,...The PtL roadmap shows the financial, economic and environmental benefits of PtL in decarbonizing the UAE's aviation industry.
It says PtL offers a unique opportunity for the Emirates to leverage domestic resources, infrastructure and expertise to grow and decarbonize the economy.
Saudi Central Bank, CMA support 12 fintech startups
The startups presented their innovative solutions following months of hard work that contributed to developing their product strategies and business...The startups presented their innovative solutions following months of hard work that contributed to developing their product strategies and business models
The companies that took part displayed cutting-edge fintech products that directly address social demands and provide solutions to pressing issues
