Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...Economy Energy Geostrategy Global Climate Change
IMF okays $700 million disbursement for cash-strapped Pakistan
Washington, United States - The IMF's executive board approved an immediate disbursement of around $700 million for Pakistan Thursday as part...Economy
ECB contends with high inflation and weak growth
European Central Bank policymakers meet on Thursday faced with the challenge of threading a response between record-high inflation figures and...The bank's 25-member governing council gathers for the second time since Russia launched its invasion at the end of February
Inflation in the eurozone hit 7.5 percent in March, an all-time high for the currency bloc and well above the central bank's own two-percent target
Economic freedom, effective governance key to attract FDI: AMF
The study calls for the stability of the business environment by reforming relevant laws.The study calls for the stability of the business environment by reforming relevant laws
The regulatory quality index outperforms all other factors in attracting investment
IMF unveils new trust to help ‘vulnerable’ countries
The IMF plans to raise at least $45 billion for a new trust to help ‘low-income and vulnerable middle-income countries’.The Washington-based crisis lender's Resilience and Sustainability Trust is expected to come into effect May 1
It is in addition to a $650 billion boost to reserve assets called Special Drawing Rights allocated earlier this year
Agencies urge urgent food insecurity action
Major international organizations issued an appeal on Wednesday for urgent measures to deal with rising food insecurity in poor countries.The Russian invasion of Ukraine, and Western sanctions on Moscow, have sent energy and food prices soaring
Meanwhile, rising natural gas prices also have impacted fertilizer production, which in turn has hurt farmers
Unvaccinated citizens can travel if they present negative PCR: UAE
The UAE will allow unvaccinated individuals to travel on April 19 if they present a negative PCR test result taken...Unvaccinated individuals aged under 16 is exempt from presenting a negative PCR test result upon arrival
The policy is aimed at achieving sustainable recovery and the return to normalcy to boost the economy
Iran says preliminary deal reached on frozen funds abroad
Tens of billions of dollars in Iranian money were blocked in many countries including China, South Korea and Japan.Delegations from concerned countries met Iran's foreign minister to discuss the deal to release its funds frozen in foreign bank
In January 2022, Iran urged South Korea to unlock its funds and not to wait for the results of the Vienna talks
Saudi, Kuwait to develop gas field despite Iran complaint
Saudi Arabia and Kuwait will develop a disputed gas field despite Iranian objections, while urging Tehran to engage in negotiations,...The two countries also issued a new invitation for Iran to negotiate over the boundary of the gas field
Tehran had earlier said that the deal contravened "previously held negotiations", adding that it "reserves its right to exploit" the field
Yen slides to 20-year low against dollar
The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap...Despite being traditionally considered a safe-haven currency, uncertainty fueled by the war in Ukraine has not caused the yen to strengthen
Government spokesman Hirokazu Matsuno said "the stability of exchange rates is important and we see rapid currency moves as undesirable"
KSA to back joint Arab actions, develop regional economic ties
The Cabinet authorized the Tourism Minister to discuss tourism promotion with Iraq.The Cabinet authorized the Tourism Minister to discuss tourism promotion with Iraq
Approval was also given for an MoU between Saudi Arabia and Algeria in housing field
IEA lowers world oil demand outlook on China lockdowns
Russian oil supply, meanwhile, is expected to continue to fall in April by 1.5 million barrels per day amid its...Rich countries have agreed to tap an additional 120 million barrels of oil from emergency reserves, with half from the United States.
Prices fell below $100 in recent days as severe lockdowns in Shanghai raised concerns that crude demand from China would fall.
