Tag: Economy

Saudi, Pakistan To Discuss Possible Support For Kingdom’s $3 Billion Deposit

May 1, 2022

PARIS, France – Saudi Arabia and Pakistan will discuss the possibility of supporting the kingdom’s $3 billion deposit in Pakistan’s central bank bank by extending its term ‘or through other options’, a joint statement carried by Saudi State News Agency SPA said on Sunday. Last year, Saudi Arabia deposited $3 billion in Pakistan’s central bank … More Saudi, Pakistan To Discuss Possible Support For Kingdom’s $3 Billion Deposit

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 GDP Grows By 6.8% In Fourth Quarter – Flash Estimates

February 11, 2022

RIYADH, Saudi Arabia – Saudi Arabia’s gross domestic product grew by 6.8 % in the fourth quarter, bringing overall growth last year to 3.3%, official flash estimates showed on Thursday. The quarter’s growth was driven by a 10.8% rise in oil activities and a 5% increase in non – oil activities, the General Authority for … More Saudi GDP Grows By 6.8% In Fourth Quarter – Flash Estimates

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

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

Saudi Launches $13 Bln Plan To Turn Costal Region Into Tourism Hub

September 29, 2021

Milan / Italy – Saudi Arabia’s crown prince Mohammed bin Salman launched a 50 billion riyal ($13 billion) strategy on Tuesday to develop the Aseer region on the Red Sea coast into a tourism hub that would attract 10 million visitors by 2030. The aim is to develop tourist attractions in the mountains area and … More Saudi Launches $13 Bln Plan To Turn Costal Region Into Tourism Hub

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 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