Asian markets rally after positive China-US trade talks
Asian stocks rallied Monday after top Chinese and US officials held "substantial" trade talks at the weekend, fuelling hopes the...Economy
Damascus, Ankara agree natural gas deal for Syria
Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to...Economy
Saudi Arabia sets $54m threshold for public-private partnership projects
Riyadh, Saudi Arabia - Saudi Arabia has revised the regulations of its Privatization Law, setting the minimum limit for a...The amendments consist of 169 articles covering principles of privatization, minimum project values, and criteria for applying the system to privatization projects
Saudi Arabia initiated the privatization program in 2018 to boost the national economy, enhance the private sector's role, and allocate government assets efficiently
OPEC Fund offered US$1.7 bn in development funding in 2023
Vienna, Austria - The OPEC Fund for International Development allocated US$1.7 billion across 55 projects globally in 2023, providing funding...The largest share in last year’s lending program was dedicated to policy-based-lending (31 percent).
The transport and storage sector received the major share of OPEC Fund’s support (14 percent)
Saudi Central Bank Governor discusses global economy in meeting with ECB chief
Riyadh, Saudi Arabia - The Saudi Central Bank Governor (SAMA) Ayman Al-Sayari discussed the recent developments in central banking and...Several events were organized on the sidelines of the visit including a high-level panel discussion titled “Interconnectedness and Increasing Capital Flow.”
In addition, a seminar on "Women’s Empowerment within Central Banks” was conducted and featured speeches by SAMA’s governor and the ECB president
Ex-Amazon economist to head Turkey’s central bank
Erkan resigned just a week after completing a historic series of interest rate hikes that have pushed the baseline rate...Fatih Karahan's appointment follows the resignation of Hafize Gaye Erkan after less than a year in office over a media scandal involving her family
The reshuffle appears to keep in place Erdogan's newfound commitment to market economics following years of financial turmoil
IMF upgrades Saudi Arabia’s 2025 economic growth prediction to 5.5%
Riyadh, Saudi Arabia - The International Monetary Fund (IMF) has revised its growth projections for Saudi Arabia's economy, revealing a...The IMF envisions a 3.1% global economic growth in 2024, followed by a further increase to 3.2% in 2025
The upgraded forecast reflects the continuous economic growth and prosperity in the Kingdom
UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...France, the United Arab Emirates, India, Turkey, and the United Kingdom were the top destinations for UAE recruiters.
This trend underscores the UAE's commitment to fostering a diverse and vibrant multinational workforce.
China economic slowdown to continue for the next four years, says IMF
BEIJING, CHINA - China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging...The world's second-largest economy last year saw some of its slowest growth in decades
A debt crisis in the property sector added to geopolitical tensions and weakening global demand.
Saudi Arabia launches program to boost exports
Riyadh, Saudi Arabia - Saudi Arabia has embarked on a program to equip Saudi exporters with the necessary information on...General Authority for Foreign Trade, through its Agency for Private Sector Affairs and International Representation, has launched workshops called "Through the Attachés"
The Foreign Trade Authority, with a focus on boosting exports, and safeguarding trade interests, plays a critical role in developing the national economy
WEF24: Corruption puts institutions, growth at risk
Despite existing laws, global corruption has not decreased due to lack of enforcement and judicial independence, Francois Valerian of Transparency...Despite existing laws, global corruption has not decreased due to lack of enforcement and judicial independence, Francois Valerian of Transparency International tells TRENDS.
Corruption, a global economic issue, involves cross-border reinvestment of stolen funds, necessitating stronger, independent judicial systems to enforce anti-graft laws, he adds.
UAE healthcare spending set to reach $30.6bn by 2027
The sector witnesses a shift towards personalized and precision medicine, underscored by healthcare's significant digitization and data generation, says a...The sector witnesses a shift towards personalized and precision medicine, underscored by healthcare's significant digitization and data generation, says a white paper.
Precision medicine has been identified as a key departure from traditional healthcare approaches, focusing on patient-centered care, the report highlights.
