Browsing: Economy

PARIS: TotalEnergies and Qatar’s oil company on Wednesday said they would buy a stake in a license to seek oil and gas off South Africa as part of their plans to develop the Orange Basin area in neighboring Namibia. 

RIYADH: Saudi Arabia’s global logistics services are set to improve following the launch of a new system by the Kingdom’s maritime body, which aims to provide over 250 e-services at its ports.

 CAIRO: Egypt secured an additional $5 billion in loans from the International Monetary Fund on Wednesday after the central bank raised interest rates and allowed the pound to plunge in value by nearly 40 percent.

CAIRO: Egypt’s central bank said on Wednesday that it had hiked interest rates by 600 basis points at an unscheduled meeting and that it would allow the exchange rate to be set by market forces as it shifted to an inflation targeting regime.

RIYADH: Qatar’s trade balance showed a surplus of $14.9 billion in the fourth quarter of 2023, marking an annual 31.5 percent decrease, according to official data.

RIYADH: Saudi Arabia and the UAE now represent over 90 percent of the green bond market across the Arab region, according to a leading finance official. 

The number of individuals with brokerage accounts topped 30.7 million last month, according to a press release

RIYADH: Private sectors of Saudi Arabia and Bahrain are poised to flourish after the two countries’ sovereign wealth funds sealed a cooperation and investment agreement.

RIYADH: The International Islamic Trade Finance Corp. signed several agreements with Uzbekistan worth $715 million at the Arab Coordination Group meeting that concluded in Tashkent on Tuesday.

RIYADH: The total number of employees in Saudi Arabia’s private sector reached 11.1 million in February, up 0.9 percent from the previous month, according to newly released figures.