Niger expects to export its first barrels of crude oil through a newly established Niger-Benin pipeline in January, as stated by the country’s military leader, Abdourahamane Tiani, on state television. The export pipeline project, supported by PetroChina, was inaugurated on November 1, connecting Niger’s Agadem oilfield to the Benin port of Cotonou, Reuters reported. Tiani […]
Deal activity in the Middle East and Africa fell 25.7% year-on-year (YoY) between January and November 2023, London-based GlobalData said in a new report. Overall, global deal activity declined 23.6% YoY due to macroeconomic challenges and persistent geopolitical tensions, it added. A total of 48,953 deals, which included mergers & acquisitions (M&A), private equity and […]
A number of Kuwaiti food companies affirmed that taking part in the Food Africa 2023 in Egypt was a good opportunity to promote Kuwaiti products abroad. In a statement to KUNA on Friday, the assistant head of export sales at Kuwait Flour Mills and Bakeries Company, Badriya Al-Rashed, said she was pleased with the number […]
Saudi Arabia’s annual inflation rate rose to 1.7% in November from 1.6% the previous month, government data showed on Thursday, with rising housing rents the main driver once again. Rents increased by 9.4% in November as prices for apartments rose by 12.8%. The higher rents drove an increase in the pricing of housing, water, gas, […]
Oil advanced from a five-month low on positive demand signals including a drop in US inventories and signs the Federal Reserve is preparing to cut interest rates. West Texas Intermediate rose toward $70 a barrel, after climbing 1.3% on Wednesday from its lowest since late June. Global benchmark Brent was near $75. US crude stockpiles […]
Germany’s economy will contract by 0.5% in 2024 because of uncertainty caused by a budget crisis, the German economic institute IW said on Wednesday. A constitutional court ruling last month upset the government’s financing plans, leading to weeks of negotiations over how the 2024 budget should look and causing much uncertainty, said researchers at the […]
India’s stock market value has overtaken Hong Kong’s to become the seventh largest in the world as optimism about the country’s economic prospects grows. As of the end of November, the total market capitalization of the National Stock Exchange of India was $3.989 trillion versus Hong Kong’s $3.984 trillion, according to data from the World […]
Bill Gates, the seventh richest person in the world, has a well-documented affinity for dividend income. This investment preference is clearly reflected in the staggering $464.5 million he earns annually from his portfolio. Gates’s investment strategy, rooted in picking companies with strong dividend yields, showcases his commitment to steady, long-term income streams. The Bill & […]
The United Nations said Monday that it needed $46.4 billion next year to bring life-saving help to around 180 million people in desperate circumstances around the world. The UN said the global humanitarian outlook for 2024 was “bleak”, with conflicts, climate emergencies and collapsing economies “wreaking havoc” on the most vulnerable. While global attention focuses […]
Sustainable finance may once have been a “niche subject”, it is now a key component that will shape the UAE’s economy, the Minister of Economy said today. Speaking just days before the opening of climate summit COP28 in Dubai, Abdullah bin Touq Al Marri said, told the Abu Dhabi Economic Forum, that sustainable finance, once […]