Riyadh, Saudi Arabia--The Saudi Ports Authority, also known as Mawani, has sanctioned five new shipping services that will link up the Kingdom with 43 international ports. The five new services are projected to support commercial traffic, strengthen the national imports and exports system, as well as provide alternatives for importers, exporters, and shipping agents. In...
Oil prices retreat but remain buoyed by bullish China outlook
Dubai, UAE-- Oil prices fell in early trade on Monday, but held on to most of last week's gains on the prospect of an economic recovery in top oil importer China this year. Brent crude futures retreated by 46 cents, or 0.5%, to $87.17 at 0031 GMT, while U.S. West...
Egypt inflation rises to 12.1 percent as foreign reserves dip
Egypt’s annual inflation rate hit 12.1 percent in March, official figures showed Sunday, as foreign reserves declined by $4 billion during the same month, according to the central bank. "The annual headline inflation rate recorded 12.1 percent for March 2022, compared to 4.8 percent for the same month last year,"...
