Gulf countries eye global metal recycling hub status
Amidst an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to...Economy
Houthi attacks idle Suez Canal, deepen Egypt’s economic woes
The man-made waterway - which officially opened in 1869 - is crucial for Egypt, earning it $9.4 billion in transit...Business Economy
Tunisia facing major structural challenges, weak growth, social inequity: IMF
Tunisia is facing major structural challenges that result in deep macroeconomic disequilibria, a weak growth in spite of its strong...The impact of the pandemic and the war in Ukraine are now adding to these structural challenges, an IMF mission that visited the country said.
Initiatives aimed at enhancing competition and the business climate are also critical to unlock the country’s potential growth and job creation, IMF said.
$1.59 bn worth of deals signed on Day 3 of Global Entrepreneurship Conference
On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements...The Small and Medium Enterprises Financing Guarantee Program “Kafalah" signed a number of agreements with a number of ministries as well as public and private sector institutions.
Monsha'at) also signed various cooperation agreements and launched National Industrial Development and Logistics Program “Thousand Mile” Initiative.
Dubai summit highlights future to governments
This year’s summit has brought together 190 countries, over 500 speakers, and 4,000 participants worldwide to discuss the future of...The summit’s topics focused on policies that drive progress and government development, sustainability, and future technology
The Investopia Summit was launched as part of the WGS 2022 to improve global economic and investment sectors
Muslims face frugal Ramadan as Ukraine war drives up food prices
Russia's Ukraine invasion, which has already exacerbated food woes in parts of Africa and the Middle East, is marring preparations...Russia and Ukraine account for a huge share of the globe's exports in several major commodities such as wheat, vegetable oil and corn
The disruption in export flows resulting from Russia's invasion and international sanctions has spurred fears of a global hunger crisis
Russia accused of causing ‘global food crisis’ at UN
'Russia's aggression against Ukraine is increasing the risk of famine around the world,' France's representative to the UN said.Russian President Vladimir Putin can stop the global food crisis, US Deputy Secretary of State Wendy Sherman told the Security Council
According to WFP, Russia and Ukraine export 30% of the world's wheat, 20% of corn, and 75% of sunflower oil
More than 30 NGOs slam Tunisia economic crimes amnesty
"The criminal reconciliation decree feeds impunity and hides the truth," 34 organizations said in a joint statement.Tunisian President Kais Saied has put money-laundering crimes including theft of public funds
The criminal reconciliation decree do not jail the offender but allows for the 'payment of sums of money'
‘Saudi Arabia spending on technology is globally the highest’
Digital Government Authority has launched the Digital Government Investment and Procurement Program (SADAF) initiative to accelerate digital procurement in government...Digital Government Authority has launched the Digital Government Investment and Procurement Program (SADAF) initiative to accelerate digital procurement in government agencies
SADAF will be a gateway to digital investment for the public and private sectors, leading to a sustainable digital economy
Qatar to invest $5bn in Egypt, with an eye on offshore gas
The move is being seen as another sign of a growing rapprochement between the two countries following last year's restoration...A Cairo statement said Qatar was to plough $5 billion in ‘investments and partnerships’ in Egypt, but did not give specifics
However, QatarEnergy announced an agreement with ExxonMobil to acquire a 40% interest in a gas exploration block off Egypt
Palestine wants Russia-Ukraine war to stop: Minister
Hard-pressed to prop up the economy and stem steep price hikes if the Ukraine war continues, Khaled Osaily, Economy Minister..."I pray to God to stop this crazy war,"Osaily told TRENDS during a phone interview from Ramallah. "We don't know what will happen tomorrow
Osaily said the PA's predicaments are worse than those of established states."We are under occupation. We don't have a central bank or currency. We are unable to finance salaries"
Nahdi shares fall 1.26 percent
The firm made a strong debut on the Saudi stock exchange on Mar 22.Nahdi's initial public offering price was SR131, raising $1.36 billion in the biggest Saudi IPO since oil giant Aramco.
Its profits dropped to SR813 million ($216.63 m) from SR849 million ($226.22 m) a year earlier, according to a bourse filing.
