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QatarEnergy inks 27-year LNG deal with TotalEnergies, to supply 3.5m tons per year
In a significant development in the energy sector, QatarEnergy and France’s TotalEnergies signed two long-term sales and purchase agreements on Wednesday to supply up to 3.5 million tons of liquefied natural gas per annum from Qatar to…
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UAE and Georgia sign Comprehensive Economic Partnership Agreement
The UAE and Georgia have signed a Comprehensive Economic Partnership Agreement, with the aim of trebling non-oil trade from $481 million to $1.5 billion within five years.
This agreement was witnessed by Emirati Prime Minister Sheikh…
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Egypt’s inflation surges to record 38%
Egypt’s annual urban consumer price inflation surged to a record 38 percent in September from 37.4 percent in August, according to its statistics agency CAMPAS.
Data released by the agency on Tuesday revealed that prices of food and…
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Public Investment Fund to subscribe new cash shares in Saudi Re via capital hike
Saudi Arabia’s Public Investment Fund has signed a non-binding agreement with Saudi Reinsurance Co. to subscribe to its new cash shares through capital increase, according to a bourse filing.
According to Saudi Re, the subscription of…
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Saudi Arabia’s HRtech raises $30m, eyes expansion
Saudi Arabia’s startup ecosystem continues to thrive amid government efforts to support the sectors and growing investors’ interest in different sectors.
Jisr, one of Saudi Arabia’s human resources tech firms, recently concluded its…
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Iraq to end all dollar cash withdrawals by end of 2023, central bank official says
Iraq will ban cash withdrawals and transactions in US dollars as of Jan. 1, 2024, in the latest push to curb the misuse of its hard currency reserves in financial crimes and the evasion of US sanctions on Iran, a top Iraqi central bank…
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GCC finance ministers discuss economic integration, cooperation
Financial chiefs from across the region held discussions in Muscat on Thursday focused on enhancing economic cooperation and integration among members of the Gulf Cooperation Council.
Oman’s Finance Minister Sultan bin Salem Al-Habsi…
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Saudi Ports Authority rises in global maritime index Q3 report
Confirming the progressive trajectory of Saudi Arabia’s maritime sector, the Saudi Ports Authority, commonly known as Mawani, has jumped in the global maritime index for the third quarter of 2023.
As outlined in a recent report from the…
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OPEC optimistic on demand, calls for more oil and gas investment
The Organization of the Petroleum Exporting Countries is optimistic on demand and sees under-investment as a risk to energy security, Secretary-General Haitham Al-Ghais said on Monday at an energy industry event in Abu Dhabi.
He stressed…
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Abu Dhabi’s non-oil economy surges 12.3% in Q2 to $42bn: SCAD
Abu Dhabi’s non-oil economy grew by 12.3 percent in the second quarter of 2023, accompanied by a 3.5 percent increase in its overall gross domestic product, reported the Statistics Centre — Abu Dhabi.
The emirate’s real non-oil GDP…
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