Wars to cast pall over meeting of global VIPs in Davos
Paris, France - The world's political and business elites will convene in Davos next week, with wars in Gaza and Ukraine...Business Economy
US consumer inflation jumps more than expected to 3.4 percent
Washington, US - Consumer inflation in the United States rose more than anticipated in December, government data showed Thursday, underscoring the...Economy
Egypt’s economy capable of facing challenges: Sisi
The Egyptian president also said the country’s economy was better equipped to meet the aspirations of the Egyptian people.These statements come in the aftermath of Egypt’s non-oil exports increasing 22 percent in July, as compared to the same period last year
In fact, the International Monetary Fund has already predicted that the country’s GDP would grow 5.2 percent in the current fiscal
Iran to build 3GW renewable power plants
The move is a collaboration between Iran's Power Generation, Distribution, and Transmission Company, and the Iranian Fuel Conservation Company.There are currently 100,000 agricultural wells in the country that use diesel to pump water
The construction of renewable power plants would save huge amounts of fuel in addition to supporting the power grid
Oman sets terms for top hotels to open event halls
Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.Celebration and meeting halls in top hotels can function with a maximum of 35 percent capacity
The hotels would have to allow entry to only those fully immunized with vaccines approved Oman
Jadwa says Saudi economy to fare better
Saudi economy may perform better this year than forecast earlier with the continual recovery of the non-oil industry from the...Jadwa predicts growth of 1.8 percent, revising previous estimate of 1.3 percent
Non-oil private sector growth seen at 4.4 percent
Lebanon taps Dubai’s ENOC for fuel swap
Lebanon is expected to use ENOC’s fuel to generate electricity, as the Iraqi oil is deemed unsuitable for the process.As part of the deal, Lebanon will give ENOC 84,000 tons of Iraqi high-sulfur fuel oil
In return, the country will receive 30,000 tons of Grade B fuel oil and 33,000 tons of gasoil
Israel gives hospitals $31 million to end partial strike
Finance Minister Avigdor Liberman said the Treasury had transferred the amount to the public hospitals.Staff and administrators at these hospitals have been protesting against the government’s failure to provide adequate healthcare funding
Since Wednesday morning, several public hospitals in Jerusalem have not been admitting patients from brought by the emergency services
Iran steel production rises 10% in 2021
The country has kept its position as the 10th largest producer of steel in the world this year.The performance of some leading Iranian steel companies indicates they exported 916,236 tons of steel in June
This which indicates a growth of 104 percent compared to June 2020
Unemployment will haunt Gulf in 2021
While joblessness will be a worry, the economies of the GCC countries are expected to grow by about 2.5 percent...Saudi Arabia ranked first in the GCC in terms of the unemployment rate, which reached 8.2 percent of the total workforce in 2020.
Bahrain and Oman are struggling with rising public debts while their unemployment rates stood at 4.1 percent and 5 percent respectively.
Nasdaq, S&P 500 again end US trading at records
The broad-based S&P 500 closed 0.2 per cent higher at 4,496.19, its second consecutive recordThe broad-based S&P 500 closed 0.2 per cent higher at 4,496.19, its second consecutive record
The benchmark Dow Jones Industrial Average gained 0.1 per cent to end at 35,405.50
Raisi says economy, Covid response ‘does not befit’ Iran
He delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on WednesdayHe delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on Wednesday
Iran has been strangled financially by sanctions reimposed by Washington after then US president Donald Trump pulled out of a multilateral nuclear deal in 2018
