Eight OPEC+ members extend oil supply cuts until year end
Supply cuts seek boosting oil prices amid uncertain demand and accelerating supply, with an eye on the imminent US presidential...Economy
BRICS integral to Arab trade diversification strategy
The UAE and Saudi Arabia’s trade with China and India far exceeds their trade with the US and UK. This...Economy
Saudi Arabia launches second phase of Visiting Investor Visa
RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing...This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with Saudi Vision 2030.
The booking platform is affiliated with the Ministry of Investment “Invest Saudi,” through which the application will be processed.
Diversification remains crucial for oil-rich nations
Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview
She highlights the need for a global sustainability approach, emphasizing localized transitions, inclusivity, and the urgency of shifting to sustainable development
Russia to continue voluntary oil export cuts by 300,000 barrels a day until yearend
Moscow, Russia - Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until the end of...Additional cuts are geared to enhance OPEC+ measures to maintain stability and balance on oil markets
Russia began to voluntarily cut oil production by 500,000 barrels a day from February’s average back in March
Global trade at a crossroads as Gaza conflict intensifies
With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of...With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of international supply chains.
The region's conflict may intensify the factors impeding trade growth, alongside other issues such as rising rates, crisis in China's realty market, and Russian-Ukrainian war.
Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...Output, new orders and employment all expanded in October, and the 12-month outlook remained upbeat.
Profitability improved as firms raised their prices for goods and services at the fastest rate since February.
FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia
AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...The forum will address the most important economic and commercial issues.
Gulf and Egyptian officials and entrepreneurs are slated to attend the forum.
Saudi Arabia to continue voluntary oil cut until end of Dec 2023
Riyadh, Saudi Arabia -- Saudi Arabia has announced it will continue the voluntary cut of one million barrels per day,...Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
That decision riled the United States, which at the time accused Saudi Arabia, a security partner, of siding with Russia in the war in Ukraine.
UAE ministry issues guidebooks on Emiratization for employers, employees
DUBAI, UAE - The Ministry of Human Resources and Emiratization (MoHRE) has launched awareness guidebooks for private sector companies and...The awareness guidebook for Emiratis working in the private sector covers 11 topics
The awareness guidebook for the private sector companies covers nine topics.
Amid volatility, international reserves resilient: World Bank report
Washington, United States -- Central bank reserve management remained resilient during a historically volatile year, according to the fourth edition...Central banks were confronted with a particularly challenging environment in 2022, with many of them, especially in developing countries, seeing decreases in reserves.
Central banks also faced challenges with technological advancements and systems updates, as well as hiring shortages and staffing turnovers.
AI to contribute in enhancing low-emissions development
BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development.UN Climate Change’s Initiative on Artificial...UN Climate Change’s Initiative on Artificial Intelligence for Climate Action explores the role of AI as a tool for climate action in developing countries.
It aims to deliver results both on policy and implementation, under the first joint work program of UN Climate Change’s Technology Mechanism.
