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Global growth rate slows to 2.6% in 2024 amid uneven recovery: UNCTAD
Global economic growth is anticipated to slow to 2.6 percent in 2024, with the UN Trade and Development agency highlighting an uneven post-pandemic financial recovery among countries.
In its latest report, UNCTAD revealed that the…
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IMF concerned about debt, fiscal challenges facing low-income countries
Shareholders of the International Monetary Fund agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said…
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SAMA governor stresses vigilance amid economic challenges
Saudi Arabia has urged the International Monetary Fund to prioritize its core activities, emphasizing the need to support initiatives such as rebuilding buffers and reviewing debt and lending policies.
Speaking during the International…
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Saudi firm WAJA Co. forms joint venture to produce EVs in Egypt
Saudi multi-sector firm WAJA Co., is set to establish a joint firm in Egypt to produce and manufacture electric vehicles, after signing a framework cooperation agreement.
The deal, inked with the Egypt-based military organization Arab…
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Saudi Arabia accelerates automotive sector localization: NCID official
Saudi Arabia’s automotive sector localization is fast on track as part of the government’s efforts to achieve its Vision 2030 targets, according to a senior official.
At the Saudi-American Business Council seminar, Aftab Ahmed, a senior…
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Oman’s inflation rate rises by 0.2% in March: official data
Oman’s inflation rate increased by 0.2 percent in March compared to the same month in 2023, driven by a rise in prices of food and beverages, an official analysis showed.
Citing data from the National Center for Statistics and…
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Saudi airports record 18% surge in flights, passenger numbers during Ramadan, Eid holidays
Saudi Arabia’s airports recorded an 18 percent surge in the number of flights and passengers during the month of Ramadan and Eid Al-Fitr holidays compared to the corresponding period last year.
According to a statement released by the…
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Saudi food security drive receives boost with new Tadco partnership
Saudi Arabia’s food security drive is set to receive a boost as Tabuk Agricultural Development Co., also known as Tadco, signs an agreement to construct high-tech greenhouses.
In a statement released on the Saudi Stock Exchange, Tadawul,…
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GCC countries should strengthen supply chains to ensure industrial growth: Oliver Wyman
Countries in the Gulf Cooperation Council region should develop supply chain resilience strategies as they embark on large-scale industrialization of their economies, a report said.
According to management consulting company Oliver…
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Saudi minister calls for ‘decisive financial policies’ to counter global economic uncertainties
Saudi Arabia’s finance minister on Thursday stressed the need for “decisive financial policies” across the world to navigate through uncertain economic conditions.
Speaking during the Spring Meetings 2024 of the IMF held in Washington,…
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