Category: Economy

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

Kuwait Seeks Investors To Finance Three Power Projects

August 31, 2021

Milan / Italy – Kuwait plans to attract outside investors to fund several power projects under a public – private partnership programme that will cover more than half of its future electricity over the next two decades, a government official said. About 7,500 megawatts (MW) of the 14,000 MW it needs over the next 20 … More Kuwait Seeks Investors To Finance Three Power Projects

Vietnam Adds To Global Coffee Supply Concerns

August 30, 2021

Milan / Italy – Vietnam has added to concerns over global supplies of coffee as the South East Asian country’s biggest city remains in  lockdown. The exporting hub of Ho Chi Minh has been kept under tough travel restrictions after a surge cases of the Delta variant of the coronavirus. Vietnam is a major producer … More Vietnam Adds To Global Coffee Supply Concerns

Kuwait Wealth Fund Appoints Interim Managing Director

August 11, 2021

The Kuwait Investment Authority (KIA), the Gulf country’s sovereign wealth fund, has appointed Basr al – Ajeel as interim managing director pending a permanent appointment, a source familiar with the matter said  on Wednesday. The KIA last week appointed a new board of directors but hadn’t names a new managing director. The term of the … More Kuwait Wealth Fund Appoints Interim Managing Director

Saudi Arabia Posts Second – Quarter Definit Of 4.6 Billion Riyals

August 9, 2021

Saudi Arabia said on Monday it posted a deficit of 4.6 billion riyals ($1.23 billion) in the second quarter, a huge drop from 109.2 billion riyals reported in the same quarter a year ago amidst a crash oil prices. The kingdom, the Arab world’s largest economy and the world’s top exporter, realised revenues of248 billion … More Saudi Arabia Posts Second – Quarter Definit Of 4.6 Billion Riyals

Kuwait’s 2020 – 21 Budget Deficit Increases 175% To Record 10.8 Bln Dinars

August 8, 2021

Kuwait’s budget deficit increased 174.8% in the 2020 – 21 year to 10.8 billion dinars ($35.5 billion), the finance ministry said on Saturday, nothing it was the highest deficit in the country’s fiscal history. Revenue dropped to 10.5 billion dinars in the financial year that ended on March 31, down 38.9%, while expenditure increased 0.7% … More Kuwait’s 2020 – 21 Budget Deficit Increases 175% To Record 10.8 Bln Dinars