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Egypt’s headline inflation rises to record 38.2% in July
Food price rises pushed Egypt’s annual headline inflation to an all-time high of 38.2 percent in July, in line with analysts’ expectations, data from the country’s statistics agency CAPMAS has revealed.
This rise is an increase on the…
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ACWA Power’s H1 net profit soars over 26% to $182m
Saudi Arabia’s ACWA Power, one of the world’s largest water project developers, reported a net profit of SR684.13 million ($182.30 million) for the first half of 2023, up 26.29 percent compared with SR514.72 million in the same period a…
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China says US investment policy ‘severely disrupts’ global supply chains
China on Thursday vowed to “safeguard” its interests against a new US policy to restrict investment in Chinese technology, accusing Washington of disrupting global supply chains.
US President Joe Biden hours earlier announced an…
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Biden orders ban on certain US technology investments in China
President Joe Biden on Wednesday signed an executive order that will prohibit some new US investment in China in sensitive technologies like computer chips and require government notification in other tech sectors.
The long-awaited order…
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Dubai’s non-oil private sector maintains steady growth as PMI hits 55.7
The non-oil private sector in Dubai witnessed steady growth in July even as the emirate’s Purchasing Managers’ Index slipped slightly compared to June, an economy tracker revealed.
According to S&P Global’s latest report, Dubai’s PMI…
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GCC wealth funds’ assets grow by 20% to reach $4tn in two years
Highlighting the growth of the Gulf Cooperation Council countries, a new report released by S&P Global has noted that sovereign wealth funds in the region will expand their global presence from enhanced liquidity buffers driven by…
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Saudi Aramco’s Q2 profit touches $30.07bn
Global energy giant Saudi Arabian Oil Co. has posted a net profit of SR112.81 billion ($30.07 billion) in the second quarter of 2023, the company said in a bourse filing.
In a statement to Tadawul, Saudi Aramco noted that the profit of…
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Riyadh to host UN’s Global Geospatial Ecosystem Center of Excellence
In recognition of the Kingdom’s growing role in strengthening global partnerships, the UN Committee of Experts on Global Geospatial Information Management has selected the Saudi capital Riyadh to host the headquarters of its center of…
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Saudi Aramco hikes September oil prices for Asia
Global energy giant Saudi Arabian Oil Co. has raised its crude prices to Asia for September after announcing an extension of its voluntary production cut for the next month, reported Al-Ekhbariya.
The company increased the official…
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Oman’s annual inflation rate eases to 0.7% in June
Oman’s annual inflation rate slightly eased to 0.69 percent by the end of June compared to 0.9 percent recorded in the previous month, the latest data from the country’s National Center for Statistics and Information revealed.
Oman’s…
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