Saudi Vision 2030 aligns with global eco-goals
"The Davos meeting provides a platform for showcasing Saudi Arabia’s significant efforts and progress in these areas ... International partnerships...Economy
Oil prices rise after US, UK strike Houthi rebels
Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...Business Economy Energy Geostrategy
Ukraine crisis pushes US inflation to new four-decade high
"The Russia-Ukraine war has added further fuel to the blazing rate of inflation," Kathy Bostjancic of Oxford Economics said.Consumer price index has hit 8.5 percent over the 12 months to March, considered the biggest jump in last 4 decades
Central bank Governor said that fall of Ukraine war "probably skews risks to the upside in inflation"
UAE Central Bank, Bank of Korea renew bilateral currency swap pact
The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and...The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and up to KRW6.1 trillion for five years
"The agreement with the Bank of Korea contributes significantly to the development of financial markets in both countries,” Mohamed Balama said
Qatar, UK ink pact on food safety, environmental health
Qatar Food Safety and Environmental Health Department Director Wassen Abdullah Al Bakr said that the agreement would enhance food safety...Qatar Food Safety and Environmental Health Department Director Wassen Abdullah Al Bakr said that the agreement would enhance food safety in Qatar
It provides a framework for enhanced cooperation in food safety research, particularly food contaminant and risk management analyses
Ferries resume between Morocco and Spain
A Spanish ferry docked in Morocco's Tangiers port Tuesday for the first time in two years, after a pandemic and...Spain and Morocco reopened ferry links days after Spanish Prime Minister Pedro Sanchez visited the North African kingdom
The busy, 14-kilometre (nine-mile) route across the Strait of Gibraltar had originally been shut in March 2020
OPEC cuts 2022 world oil demand forecast due to Ukraine war
In a monthly report, the OPEC said world demand would rise by 3.67 million barrels per day (bpd) in 2022,...In a monthly report, the OPEC said world demand would rise by 3.67 million barrels per day (bpd) in 2022, down 480,000 bpd from its previous forecast
The invasion in February sent oil prices soaring above $139 a barrel, the highest since 2008, worsening inflationary pressures
DMCC registers record 665 companies to its Free Zone in Dubai during Q1
Dubai Multi Commodities Centre, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, welcomed...This represents DMCC’s best first quarter since its inception over twenty years ago, a 13 percent year-on-year increase.
In the first quarter of 2022 alone, 16 percent of all company registrations were for crypto-related activities.
Sri Lanka declares $51 bn foreign debt as economic crisis worsens
Sri Lanka's snowballing economic crisis began to be felt after the coronavirus pandemic torpedoed vital revenue from tourism and remittances.Acute food and fuel shortages, as well as long daily electricity blackouts, have brought widespread suffering to the country's 22 million people.
The government has struggled to service foreign loans and Tuesday's decision comes ahead of negotiations for an International Monetary Fund bailout.
Czech Republic delegation explores business opportunities in Bahrain
A business delegation of Czech Republic visited Bahrain to explore investment opportunities and expansion of economic projects between the two...The delegation expressed keenness on cooperating with the Bahraini private sector for investment in various sectors.
A minister said Bahrain welcomes all international investments and projects with added value to investment and investors.
Oman becomes first GCC nation to ratify a treaty on rights of seafarers
Oman has become the 100th country to ratify a 2006 treaty that protects the rights, pay and conditions of seafarers. The...Maritime Labor Convention has become a worldwide reference for the maritime industry and a pillar of international maritime rules and regulations since its signing in 2006.
Guy Ryder, the ILO Director-General, said Oman, a longstanding maritime nation, has set an example for other countries in the region.
Jordan plans to expand cultivation of wheat, barley
The plan includes allocating interest-free loan packages to farmers through the Agricultural Credit Corporation.The plan includes allocating interest-free loan packages to farmers through the Agricultural Credit Corporation
Jordan Minister of Agriculture, Khaled Hneifat said the ministry will provide seeds to grow wheat and barley in alignment with the climatic condition of the cultivation areas
