Eurozone business activity continues downward trend in December
BRUSSELS, BELGIUM - Business activity in the eurozone slumped at a faster rate in December, weighed down by a deeper downturn...Economy
Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...Business Economy
Lebanon in blackout as power stations run out of fuel
State electricity in most places is barely available for an hour a day amid rolling power cutsState electricity in most places is barely available for an hour a day amid rolling power cuts
The Mediterranean country is battling one of the planet's worst economic crises since the 1850s
KSA, UAE lead GCC in maritime trade
Saudi Arabia is planning to invest US$36bn in logistics and aims to become a regional hub for the shipping sector,...Saudi Arabia is planning to invest US$36bn in logistics and aims to become a regional hub for the shipping sector, a position enjoyed by the UAE for many years
The UAE has 10 major ports followed by Saudi Arabia (9), Qatar, Oman and Bahrain (5 each) and Kuwait (3)
Egypt’s non-oil exports leap up to $7.5 billion in Q1 of 2021
Egypt's non-oil exports increased to $7.5 billion in the first quarter of 2021, compared to $6.5 billion in Q4-20, according...The country's non-oil balance of trade deficit narrowed by 5% quarter-on-quarter (QoQ) during the January-March period
Mineral fuels, oils, and distillation products topped the non-oil exports with a value of $809.9 million in Q1-21 from $883.2 million in Q1-20
UAE to tread ’10 Principles’ path for the next 50 years
President Sheikh Al Nahyan decrees that all ministries, government authorities and institutions should make these 10 Principles as guidelines in...The principles direct UAE’s institutions to strengthen the union, build a sustainable economy and harness all possible resources.
The set of principles is also aimed at fostering positive regional and global relations to achieve national goals.
Global deal to end tax havens goes through as 136 countries back 15 percent rate
At least 136 countries have backed a landmark agreement to set a new minimum tax rate for companies around the...But the agreement still faces a rocky path given that it must be passed by a closely divided U.S. Congress and be approved by each of the countries
The agreement, which was brokered by the Organisation for Economic Co-operation and Development (OECD), would set a minimum tax rate of 15% from 2023
Jadwa says a drop in Saudi joblessness a sign of healing economy
A drop in Saudi joblessness during the second quarter of the current fiscal year from 11.7 percent to 11.3 percent...Saudi unemployment fell to 11.3 percent in the second quarter of this year, down from 11.7 percent in the three months to April
The Riyad-based firm said the fall mirrors the economy’s expansionary trend in the first half of this year and expects unemployment to decline even further
UK and Gulf nations negotiate trade deal
"It brings me great joy and pleasure to officially announce the official launch of FTA negotiations between GCC countries and...The UK already enjoys strong economic links with the nations of the GCC, comprised of Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait and Oman
Trade between the UK and the Gulf nations topped 30 billion pounds ($41 billion) in 2020, according to the British government
GDP of Arab economies down 3.8 percent: World Bank
The region’s average real GDP per capita is forecast to increase by only 1.1 percent in 2021 after declining an...Thirteen out of 16 countries in the region will have lower standards of living in 2021 than their pre-Covid levels.
Pandemic losses are calculated by comparing where the region’s GDP would have been if the pandemic had not hit, the bank said.
Chief trade negotiators from US, China hold ‘candid exchange’
This was the second consultation between the two countries' chief trade negotiators after relations were seriously damaged under former US...This was the second consultation between the two countries' chief trade negotiators after relations were seriously damaged under former US president Donald Trump.
Talk was "an opportunity for the United States and China to commit to forging a trade relationship that is managed responsibly," a USTR official said
Amanda Staveley: Public face of Newcastle’s Saudi takeover
She has made a lucrative career as an intermediary for wealthy Gulf-based investors looking to invest in Europe through her...She has made a lucrative career as an intermediary for wealthy Gulf-based investors looking to invest in Europe through her company, PCP Capital Partners
An indication of the circles in which she moves is the rumour that she once turned down a marriage proposal from Prince Andrew, Queen Elizabeth II's third child
