EU reaches deal to reform electricity market
The agreement will see states given the "possibility to exclusively support" the acquisition of new renewable generation, in line with...Economy
China, Saudi Arabia sign 60 pacts worth $25bn at Beijing conference
Beijing, China - China and Saudi Arabia signed over 60 MoUs and agreements worth over $25 billion at the investment...Business Economy
Kuwait to push for more private sector jobs in order to reduce state wage bill
Kuwait will nudge job seekers in the country toward the private sector in order to reduce state wage bill. The...The move comes as the Middle Eastern country seeks to reduce its public sector wage bill, which accounts for approximately 60 percent of the government’s budget
A study will also be conducted to identify high-priority jobs to attract national labor early next year
Tunisia’s new PM faces economy battered by political turmoil
Heavily in debt, with spiraling inflation and widespread unemployment worsened by the coronavirus pandemic, Tunisia is hoping for a bailout...Bouden will be Tunisia's tenth prime minister since the 2011 revolution that overthrew longtime dictator Zine El Abidine Ben Ali.
But with debt standing at over 80 percent of GDP, Tunisia has dipped into international funds to service its debts.
Ajman Chamber reduces membership registration fee by 50 percent
DUBAI: A 50 percent reduction in the membership registration fees in the Ajman Chamber of Commerce and Industry for new...The offer is valid only if the registration request is submitted between Oct 1 and March 31.
The decision comes into force from October 1.
Saudi Arabia expects 2.7 percent budget deficit this year, 1.6 percent in 2022
Saudi Arabia expects to post a deficit of 2.7% of gross domestic product this year and to reduce it further...The kingdom forecasts total spending of 955 billion riyals - around $255 billion - next year, down from an estimated total expenditure of around 1 trillion riyals this year
The gross domestic product is expected to reduce further next year, to 1.6% of GDP
Algeria-Morocco standoff threatens Spain gas supplies
Algeria has been using the Gaz-Maghreb-Europe (GME) pipeline since 1996 to deliver several billion cubic metres per year to Spain...Algeria has been using the Gaz-Maghreb-Europe (GME) pipeline since 1996 to deliver several billion cubic metres per year to Spain and Portugal
The latest crisis followed months of tensions, partly over Morocco's normalisation of ties with Israel
Saudi employers prefer men over women in Q2 as unemployment rate dips
Saudi males found securing jobs was easier than women in the kingdom in the second quarter of 2021, lowering unemployment...According to estimates of the General Authority for Statistics (GASTAT) based on the Labor Force Survey, the unemployment rate of the total working age Saudi population decreased
Unemployment rate among Saudi men went down noticeably by 1.1 percentage point to 6.1 percent in the second quarter of 2021 from 7.2 percent in the previous quarter
2021 a year of recovery in oil market: OPEC Sec Gen
Barkindo underscored the importance of the efforts by the Declaration of Cooperation (DoC) Participating Countries in accelerating the rebalancing process...Barkindo underscored the importance of the efforts by the Declaration of Cooperation (DoC) Participating Countries in accelerating the rebalancing process in the global oil market
The Secretary General also stressed the need to remain cautious and attentive to an ever-evolving market situation
Infrastructure push spurs job growth in GCC
The UAE and Qatar are hosting global events like EXPO 2020 this October and FIFA World Cup in 2022 respectively...In recent months, all GCC countries have unveiled major infrastructure projects following vaccination of the majority of the population and a rebound in oil prices
The UAE and Qatar are hosting global events like EXPO 2020 this October and FIFA World Cup in 2022 respectively and initiating infrastructure projects worth billions of dollars
Morocco, Algeria slam France’s decision to slash visas
France on Tuesday said it would sharply reduce the number of visas granted to people from Algeria, Morocco and Tunisia,...In Morocco, Foreign Minister Nasser Bourita told reporters the French decision was “unjustified”
Many of its Tunisian citizens displayed their concern Wednesday in front of the offices of TLS Contact, the private company authorised to receive applications for France
Saudi MSMEs get new three-month payment respite
The Deferred Payment Program was launched on March 14 last year, as Covid-19 was spreading across the world. According to...The respite is in the form of the extension of the Deferred Payment Program for the MSMEs
The initiative is one of the many Private Sector Financing Support Programs the central bank has launched to help the economy
