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Finland pledges $21.8m to UNRWA for 2023-2026
Finland has signed a new agreement with the UN Relief and Works Agency for Palestine Refugees in the Near East worth €20 million ($21.8 million).
The multi-year agreement, which runs from 2023 to 2026, builds on existing cooperation…
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Egypt to raise food subsidies spending by 20% in draft budget – statement
Egypt expects to raise its allocation for food subsidies by 20 percent and for petroleum products by 24 percent in the 2023-24 fiscal year, according to a draft budget approved by the cabinet on Wednesday, Reuters reported.
The budget…
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Global growth to hit three-decade low: World Bank
The global economy is set for a “lost decade” according to the World Bank as it forecasts that economic growth is set to hit a 30-year low.
A report from the organization warns average global domestic product growth will drop to 2.2…
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Reports that billionaire British Muslim brothers plan $9.8bn takeover of Subway
The billionaire British Issa brothers are considering an £8 billion ($9.87 billion) takeover of sandwich chain Subway, according to media reports.
Mohsin and Zuber, who started their business empire with one petrol station in the Greater…
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China maintains its spot as top destination for Saudi exports
China emerged as the top global export destination for Saudi Arabia in January 2023 accounting for 14.8 percent of total Saudi exports valued at SR15.6 billion ($4.15 billion).
It was followed by Japan with exports valued at SR11.7…
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Qatar launches new derivatives exchange framework
Qatar’s stock exchange will introduce a new derivatives market that allows the trading of options and future contracts on local stocks and the main equity index, the country’s financial center regulatory authority announced on Monday.…
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First Citizens Bank to acquire Silicon Valley Bank
The Federal Deposit Insurance Corp. has agreed on the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co.
The sale involves the sale of all deposits and loans of SVB to First-Citizens, the…
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Businesses from Indian-administered Kashmir eye new possibilities with UAE investment
The first foreign investment in Jammu and Kashmir has ignited hopes for more opportunities in the restive Indian-administered region, local authorities and business leaders told Arab News, as Dubai’s Emaar Group is due to build a shopping…
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Iraq halts northern crude exports after winning arbitration case against Turkiye
Iraq halted crude exports from the semi-autonomous Kurdistan region and northern Kirkuk fields on Saturday, an oil official told Reuters, after the country won a longstanding arbitration case against Turkiye.
The decision to stop…
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China to implement zero tariffs on coal imports to the end 2023
China will extend some preferential tax policies and continue to implement zero tariffs on coal imports until the end of this year, state media CCTV reported on Friday, citing a cabinet meeting chaired by Premier Li Qiang on the same day,…
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