Economy & Trade

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However food waste is not unique to Saudi Arabia, low income and developed countries face problems in waste.
July 9, 2014 - 18:47 GMT
Saudi Arabia is the world’s top food importer, and also rated as one of the worst wasters.

August 21, 2013

This is while the Statistical Center of Iran had put the figure at 33.9 percent, according to the Fars News Agency.
12:27 GMT

€“ The Central Bank of Iran has announced that the inflation rate for the 12-month period ended the fourth Iranian calendar month of Tir (July 22, 2013) compared to the same period in the previous year hit 37.5 percent.

According to the law, the percentage should be reviewed every two years, and it can be decreased, increased, or left untouched depending on the economic situation.
12:06 GMT

"Kuwaitization" was created by the government a few years ago to encourage Kuwaitis to work in the private sector as there were no available vacancies in the public sector for fresh graduates

Argentine Vice President, His Excellency Amado Boudou with Mohammed Sharaf, Group Chief Executive Officer, DP World, during the visit of a high level delegation from Argentina to DP World Headquarters in Jebel Ali
11:47 GMT

A high level delegation from Argentina led by the Vice President, His Excellency Amado Boudou, today visited DP World headquarters in Jebel Ali.

Hisham Ramez, Chairman of Egypt’s Central Bank, described the state of Egypt’s foreign currency serves as “reassuring”.
11:18 GMT

The government says it has put the final touches on the country's economic roadmap.

Dubai Electricity and Water Authority
05:50 GMT
(press release)

Dubai Electricity and Water Authority has issued a request for tenders for the new clean coal power plant, as part of its efforts to diversify Dubai’s energy mix, and use new sources to generate electricity.

August 20, 2013

The most attractive industries in the Kingdom are perceived to be construction (42 percent), telecommunications (33 percent), and banking and finance (32 percent).
16:07 GMT

More than half of the companies in the Middle East and North Africa (MENA) are considering hiring in the next 3 months.

The proposed bank, Ensour added, would not accept deposits in order not to compete with commercial banks in the Kingdom.
15:02 GMT

Planning and International Cooperation Minister Ibrahim Saif noted that the World Bank had extended a $70-million soft loan to Jordan earlier this year to finance SMEs, adding the funds are currently deposited at the Central Bank of Jordan.

This brings to an end three consecutive years of declining FDI flows to the region since the pre-financial crisis peak of $61.7 billion in 2008, said NBK in an economic update.
13:27 GMT

The GCC’s positive performance is further accentuated when placed in the context of developing economy and world FDI flows, both of which declined in 2012.

Dubai Chamber of Commerce and Industry
12:15 GMT

Dubai Chamber of Commerce and Industry in partnership with National Transport Authority organised a workshop on Land Transport Law and its by-laws at its head office.

Total state spending came in slightly below the initial plan of 178.6 billion riyals for the fiscal year that ended in March.
07:33 GMT

This is the first time that the government’s annual spending undershot its budget plan since 1990 – a sign of the difficulties which Qatar is having in pushing forward huge and complex infrastructure projects.

August 19, 2013

Department of Economic Development
11:58 GMT

Department of Economic Development has set up an External Relations section as part of reaching out to potential investors and enabling them to set up and expand their businesses in Dubai.

Department of Municipal Affairs
10:21 GMT

A Municipal delegation headed by Mr. Mohamed Hareb Al Ketbi paid a visit to the Municipality of Dubai during which he was briefed on land classification system in the emirate.

About 332 million Egyptian pounds ($48 million) of shares were traded, compared with a one-year daily average of 391 million pounds.
08:46 GMT

The stock market closed Aug. 15 in the first unscheduled shutdown since January 2011, when it suspended trading for almost two months.

August 18, 2013

No official statement has yet been issued evaluating the cost of damages and sector losses (Sources: Getty images).
15:33 GMT

The Daily News Egypt spoke to a number of Egyptian economists to explore how the economy will be affected by the recent political turmoil and resulting violence.

“Saudi inflation has eased over the course of this year, in spite of fairly robust domestic demand.
14:54 GMT

The banks appear to be in a healthy condition and the government’s fiscal position is strong enough that it can respond to any sharp deterioration in the economy by ramping up spending.