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

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

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

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

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

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

Saudi Arabia Lowers Light Crude Prices To Asia; US, Europe Prices Steady

Paris / France – – Saudi Arabia lowered its light crude oil prices to Asian customers in October versus September, though left prices to northwestern Europe and the United States steady. Oil giant Saudi Aramco lowered the price differential of light crude for delivery to the Far East in October to a premium of $1.7 … More Saudi Arabia Lowers Light Crude Prices To Asia; US, Europe Prices Steady

UAE Announces Plans To Boost Economy, Attract Workers

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

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

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

MIDEAST STOCKS Saudi And Qatar Stocks Treat Water Amid Delta Fears

Saudi Arabia’s And Qatar’s stocks gave up early gains to close flat on Thursday, amid fears about the spread of the Delta variant of the coronavirus weighing on sentiment. The GCC stock markets were impacted by fears of an economic slowdown as China takes steps to limit the spread of the coronavirus, said Daniel Takieddine, … More MIDEAST STOCKS Saudi And Qatar Stocks Treat Water Amid Delta Fears