Author: Steven Sahiounie

Cairo is negotiating the purchase of 1 million tons of wheat, the outlet has said Egypt is negotiating imports of Russian wheat through a government-to-government deal, Bloomberg reported this week, citing sources familiar with the matter. The North African country reportedly wants to buy 1 million tons of Russian wheat with delivery scheduled for this season, the outlet said, noting that it was not clear how close the two countries were to finalizing a deal. Earlier this month, media reports indicated that, in a departure from its traditional way of buying grain through tenders, Egypt had purchased about…

Qatar’s commitment to addressing climate change aligns with its National Vision 2030 Doha, Qatar: The State of Qatar has recently devised a host of local and international initiatives that saw the country contributing to global efforts in cutting back on air pollution and carbon emissions and promoting renewables. Qatar’s commitment to addressing climate change aligns with its National Vision 2030, especially in stimulating investment in innovative agricultural and social technologies aimed at raising societal awareness of environmental issues, promoting sustainability concepts, and finding suitable solutions to transform arid and barren lands into agricultural and forested areas. Qatar also seeks to…

Dubai Chamber of Digital Economy’s flagship event will take place at Dubai Harbour from 15th – 18th October 2023 Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, is gearing up to welcome the global business community to Expand North Star, the world’s largest gathering of startups and investors. Dubai Chamber of Digital Economy’s flagship event will take place at Dubai Harbour from 15th – 18th October 2023 and is set to connect the world’s most sought-after startups with innovators, investors, entrepreneurs, and the founders of global success stories. Together, participants will…

The visit is aimed at strengthening economic cooperation between the UAE and France in a wide array of key sectors Abdulla bin Touq Al Marri, Minister of Economy, visited the startup incubator ‘Station F,’ the Airbus Innovation Centre, and the headquarters of First Abu Dhabi Bank in France, during the UAE delegation’s official visit to the country. The visit is aimed at strengthening economic cooperation between the UAE and France in a wide array of key sectors, including renewable energy, tourism, aviation, entrepreneurship, AI, space, intellectual property, and circular economy. During his visit to ‘Station F,’ Al Marri was apprised…

The South Asian currency has strengthened from 83.7 against Emirati currency in the first week of September to 73.1 at the end of the month The Pakistani rupee has strengthened more than 7 per cent against the UAE dirham and the US dollar in the past month after the government launched a crackdown against the smuggling of the US dollar. The South Asian currency has strengthened from 83.7 against Emirati currency in the first week of September to 73.1 at the end of the month, according to xe.com. The rupee hit a record low of 307.1 against the US dollar…

It also highlights the UAE’s leadership vision to enhance positive international cooperation Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Vice Chair of the World Governments Summit (WGS) Organisation, said that the WGS is a key catalyst for international efforts aimed at shaping the future, highlighting the significance of partnerships and harnessing global dialogue. It also highlights the UAE’s leadership vision to enhance positive international cooperation, he said in a statement during the Ambassadors Retreat, organised by the World Governments Summit Organisation and the Ministry of Foreign Affairs to convene diplomatic…

While the notes cannot be exchanged at banks after the deadline, people can still do so at 19 designated RBI issue offices MUMBAI – The Reserve Bank of India (RBI) said on Saturday it would extend its deadline to return the country’s highest denomination 2,000-rupee ($24) currency notes by a week to Oct. 7. “As the period specified for the withdrawal process has come to an end, and based on a review, it has been decided to extend the current arrangement for deposit/exchange” till Oct. 7, the RBI said in a statement. While the notes cannot be exchanged at banks…

The finance ministry said in a preliminary budget statement on Saturday that it expected a budget deficit of 2% of gross domestic product (GDP) this year RIYADH – Saudi Arabia is expected to tap the international debt markets to finance a projected budget deficit in 2023-2024, the finance ministry said, against a backdrop of lower oil prices and the country’s extended oil production cuts. The finance ministry said in a preliminary budget statement on Saturday that it expected a budget deficit of 2% of gross domestic product (GDP) this year rather than an earlier projected surplus, and a deficit of…

RIYADH: Saudi real estate developer ROSHN has announced expanding its footprint in the Kingdom with the launch of sales for the third phase of its flagship development, SEDRA, located in Riyadh. The Public Investment Fund-owned company has introduced 3,438 new residences and a wide range of amenities within this 20 million sq. meter residential project. Prospective residents of SEDRA Phase 3 will be able to choose from a wide array of floor plans and facades, the Saudi Press Agency reported. These options encompass single or multi-family configurations, three- and four-bedroom townhouses, duplexes, and spacious four- and five-bedroom villas. With the…

RIYADH: In a new development signaling a shift in Oman’s economic landscape, global credit rating agency Standard & Poor has upgraded the nation’s long-term credit rating from “BB” to “BB+.” S&P Global’s assessment underscores a transformation in Oman’s non-oil sector, promising substantial growth in the years ahead, particularly between 2023 and 2026. This shift is poised to play a pivotal role in enhancing the country’s economic prosperity. Additionally, positive signs within the oil sector are expected to further fuel Oman’s economic expansion. Source: Arab News