Saudi Vision 2030 aligns with global eco-goals
"The Davos meeting provides a platform for showcasing Saudi Arabia’s significant efforts and progress in these areas ... International partnerships...Economy
Oil prices rise after US, UK strike Houthi rebels
Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...Business Economy Energy Geostrategy
Saudi non-oil revenues jump 206%
The non-oil revenues of Saudi Arabia have increased to US$31 billion in Q2 2021 as against US$10.1 billion in Q2...Saudi economy contracted by 7 percent in 2020 but grew by 1.5 percent in Q2 2021
IMF expects Saudi real GDP to expand by 2.4 percent in 2021, following a contraction of 4.1 percent last year
Cyprus becomes safe haven for fleeing Lebanese
Since the start of the crisis in 2019, several thousand Lebanese have emigrated, many of them to Cyprus.Since the start of the crisis in 2019, several thousand Lebanese have emigrated, many of them to Cyprus
According to the United Nations, 78% of Lebanese now live below the poverty line -- up from less than 30% before 2019
As economy slumps, Turkey turns on migrants
Turkey turned into the home of one of the world's largest migrant populations when it struck a deal with Brussels...Turkey turned into the home of one of the world's largest migrant populations when it struck a deal with Brussels to help resolve Europe's 2015-16 refugee crisis
President Recep Tayyip Erdogan says the nation of 84 million now hosts five million migrants and refugees
Egypt’s foreign reserves leap up to $40.67bn in July
Egypt's net foreign reserves have risen to $40.672 billion in August from $40.609 billion in July, the central bank said...Egypt's net foreign reserves have risen to $40.672 billion in August from $40.609 billion in July
Foreign reserves have been rising since June 2020, after dropping to around $36 billion
Iran gives free electricity to 10m users
This happened as part of a program aimed to change the attitudes of household consumers towards the proper use of...This is part of the Power of Hope program, which entails rewarding efficient subscribers with a 100 percent discount on their bills
The Iranian Energy Ministry program has reduced the number of high-consuming subscribers across the country by 6.1 percent
Oman launches laboratory for food security
The laboratory falls within the framework of the "Invest in Oman" program.The lab is aims to design of a strategic investment program for the food security sector in Oman
This will happen in partnership with relevant governmental and private institutions, businessmen, and investors
1.8 million Saudis employed under Nitaqat program
Nitaqat is a nationalization scheme implemented, which requires Saudi companies to fill up their workforce to certain levels with Saudi...About 1.6 million establishments in the Saudi employment market are registered under the program.
Under Updated Nitaqat, the number of economic activities will be reduced to 32 from 85.
GCC equity markets shine in H1 2021
The growth was spurred by abundant liquidity created by easing monetary and fiscal policies besides a rebound in oil prices.The pharma and biotech index topped performance during H1 2021 with returns of 24.3 percent and 50.4 percent.
Abu Dhabi Exchange topped the region’s equity markets by gaining as much as 35 percent.
UAE posts fastest job growth in three years
The UAE has recorded a sharp growth in employment for the first time in more than three years, with a...Output levels increased in August due to an improvement in demand as the economy recovered from COVID-19 restrictions
The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, dipped to 53.8 in August from 54.0 in July
Hyperinflation imminent in Lebanon: Nasser Saidi
A crushing economic crisis, a sharp collapse of the local currency and a bankrupt banking sector are adding to the...Lebanon's banking sector must reduce the size by at least 50 percent if not more, says senior economist Nasser Saidi
Lebanon, he says, will take 5–7 years to recover if it agreed to an IMF program within the next three months
