Category: Economy

Putin Says Russia Will Switch Gas Sales To Roubles For ‘Unfriendly’ Countries

March 23, 2022

PARIS, France – Russia plans to switch its gas sales to ‘unfriendly’ countries to roubles, President Vladimir Putin said on Wednesday, responding to a freeze on Russia’s assets by foreign nations over events in Ukraine that he said had destroyed Moscow’s trust. European countries’ dependence on Russia gas and other exports has been thrown into … More Putin Says Russia Will Switch Gas Sales To Roubles For ‘Unfriendly’ Countries

Saudi Arabia’s Jan Inflation Rate Up 1.2% Y/Y – Govt Data

February 15, 2022

PARIS, France – Saudi Arabia’s consumer price index rose 1.2.% in January from a year earlier, fuelled by higher transport prices, government data showed on Tuesday. Transport prices increased by 4.9%, mainly due to the rise in gasoline prices by 34.5%, the General Authority for Statistics said in a statement. ‘Transport prices were the main … More Saudi Arabia’s Jan Inflation Rate Up 1.2% Y/Y – Govt Data

Saudi Arabia Appoints Advisers On Green Debt Issuance

November 1, 2021

PARIS, France – Saudi Arabia has appointed financial advisers for a planned green debt issuance but has yet to decide on the format, Finance Minister Mohammed al – Jadaan said on Sunday. He told Reuters that Saudi Arabia’s economy was recovering well from the COVID-19 pandemic and expected the non – oil economy to grow … More Saudi Arabia Appoints Advisers On Green Debt Issuance

Saudi Arabia Targets Net Zero Emission By 2060: Crown Prince

October 23, 2021

RIYADH, Saudi Arabia – Saudi Arabia aims to reach zero – net emission by 2060, Crown Prince Mohammed bin Salman, the Head of the Higher Committee for the Saudi Green Initiative (SGI), pledged at an environment conference in the Kingdom on Saturday. The Crown Prince, in recorded remarks, announced plans to cut carbon emission by … More Saudi Arabia Targets Net Zero Emission By 2060: Crown Prince

S & P Expects Weak Tourism To Weigh On Dubai Economy Until Late 2022

October 20, 2021

PARIS, France – Dubai is set for a ‘modest’ recovery this year on the back of a high vaccination rate in the United Arab Emirates and limited COVID – 19 restrictions, but weak international tourism will drag on the economy until late 2022, S & P Global Rating said. The economy of the Middle East trade, … More S & P Expects Weak Tourism To Weigh On Dubai Economy Until Late 2022

Macron Unveils 30 – Bln Euro Plan For Innovation And Industrial Revival

October 13, 2021

PARIS, France – France wants to be a leader in green hydrogen by 2030 and build low – carbon planes and small nuclear reactors as part of a 30 billion euro ($35 billion), investment plan, President Emmanuel Macron said on Tuesday. Macron said the road map, dubbed ‘France 2030’, would ensure France decarbonizes its industry … More Macron Unveils 30 – Bln Euro Plan For Innovation And Industrial Revival

Abu Dhabi Wealth Fund To Focus On Tech, Climate Chance After COVID – 19

September 8, 2021

Abu Dhabi / UAE – – Abu Dhabi Investment Authority (ADIA), the United Arab Emirates’ biggest  sovereign wealth fund, sees technology and climate change as key investment areas for its post – COVID – 10 strategy, it said its 2020 annual review. ADIA, which manages capital on behalf of the oil – rich Abu Dhabi … More Abu Dhabi Wealth Fund To Focus On Tech, Climate Chance After COVID – 19

Saudi Arabia’s PIF Hires Banks To Advice On ESG – IFR

September 7, 2021

Paris / France – – Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has hired five international banks as members of an environmental, governance and social (ESG) panel for its medium – term capital – raising strategy, IFR News reported on Monday. Sources told Reuters in July that PIF sent banks a request … More Saudi Arabia’s PIF Hires Banks To Advice On ESG – IFR

Saudi Non – Oil Sector Expansion Loses Momentum In August – PMI

September 5, 2021

Paris / France – Saudi Arabia’s non – oil private sector continued to grow in August but lost momentum due to a sharp drop in out expansion, a business survey showed, signalling a challenging recovery from the COVID – 19 pandemic. The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) dropped to 54.1 … More Saudi Non – Oil Sector Expansion Loses Momentum In August – PMI

UAE Announces Plans To Boost Economy, Attract Workers

September 5, 2021

Dubai / UAE – – The United Arab Emirates plans to launch 50 new economic initiatives to boost the country’s competitiveness and attract 550 billion dirhams ($150 billion) in foreign direct investment in the next nine years, government official said on Sunday. The project, a few of which were unveiled on Sunday, include investing in … More UAE Announces Plans To Boost Economy, Attract Workers