China’s new tariffs policy to hasten industrial transformation
Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...Business Economy
GCC eyes economic upswing, business growth in 2024
Despite last year's challenges, the region is set to see robust growth this year, led by the UAE, which is...Economy
QatarEnergy, partners announce oil discovery offshore Namibia
The consortium partners comprise QatarEnergy, Shell and National Petroleum Corporation of Namibia "NAMCOR".The consortium partners comprise QatarEnergy, Shell and National Petroleum Corporation of Namibia "NAMCOR"
The partners will conduct analysis on the well data and further exploration activity to determine the full size and recoverable resource potential
Jordan looks to reform old tax system to propel growth
Jordan is looking to reform its old tax system in order to pave way for growth in national economy. In...The forum's members stressed the need to enhance tax awareness, raise auditor competency and expand the taxpayer base
Stressing the importance of propagating tax culture, they called on government to turn tax revenues to services, with an impact "sensed by all"
Former Bundesbank chief appointed to head IMF expert panel
The expert group will conduct an independent review with a view to identifying how the Fund can ensure it has...The expert group will conduct an independent review with a view to identifying how the Fund can ensure it has in place effective channels for complaint, dissent and accountability
"This will include reviewing the framework for addressing complaints applicable to the Managing Director and Executive Board officials," the IMF statement went on.
Saudi Telecom Company signs over 15 pacts at LEAP22
The Saudi Telecom Company (STC) has signed fifteen agreements with major international companies, including Microsoft, Huawei, Ericsson, and Cisco, in...The company has already announced an initiative to establish a $1billion main digital center “MEAN Hub” for the Middle East and North Africa
The company also announced an initiative to establish a factory to localize data centers in the Kingdom, in partnership with Huawei
Policy reforms help Saudi FDI inflow rise 326%
The Kingdom seeks to increase its net FDI inflow by 1,816 percent between 2021 and 2030, raising it to $103.5...The Kingdom is likely to witness an increase in net FDI by 1,816 percent between 2021 and 2030
The country’s wholesale and retail sectors issued more than 44 percent of new FDI licenses in Q4, 2021
Oman signs three agreements worth $244m with Saudi Fund for Development
Oman has signed three agreements RO 94 million ($244 million) with the Saudi Fund for Development (SFD) for supporting SMEs...The first MoU dealt with supporting small and medium enterprises (SMEs) through a soft loan portfolio of RO 57.6 million.
The second and third MoUs contribute to the funding of infrastructure projects in the Special Economic Zone at Duqm (SEZAD).
Association of Iraqi Banks, Federation of Egyptian Banks sign MoU
The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the...The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the Central Bank Mostafa Ghaleb
Al-Handal pointed out that the memorandum of understanding will also focus on establishing joint training programs
Non-Jordan investors buy less, sell more at Amman bourse
The net of non-Jordanian investments during January 2022 showed a negative value of JD5 million ($7.05 million).The value of shares that were bought by non-Jordanian investors during January 2022 was JD11.2 million ($15.8 million)
The value of shares sold by these non-Jordanian investors for the same period amounted to JD16.2 million ($22.85 million)
IMF will only support a ‘comprehensive program’ for Lebanon
Lebanese officials began talks with the IMF last month to pull the country out of the worst economic crisis in...Lebanon’s currency has lost about 90 percent of its value on the black market
Meanwhile, four out of five Lebanese now live below the poverty line
Oil prices help GCC economies script revival story
GCC countries appear to be reaping the benefits of their efforts this year, with all indications pointing to the economies...According to the IMF, the region’s oil GDP will rise 5.3 percent in 2022
Saudi Arabia’s non-oil GDP is expected to grow by 4.9 percent in 2022
