In a virtual meeting to examine Saudi Arabia’s economic scene for the latter part of 2025 and 2026, the Saudi Council for Economic Affairs and Development assessed this month’s Economy and Planning Ministry report. The report contained thorough analysis of global economy developments in addition to an evaluation of the difficulties that the nation’s economy faces. Featured in the report was progress in commercial diversification as per Saudi Vision 2030. Of note was the nation’s fourth continuous quarter of growth through dedicated activity excluding the oil sector. As well, as per the Saudi Press Agency (SPA) reports, the Purchasing Managers’…
Author: Lutfi Hanon
Throughout a meeting at the new administrative capital set for discussing agreements with traders and manufacturers, the Prime Minister of Egypt brought to light an upturn in economy while restating the necessity for price stabilization. Present values of essentials items were said to “not align with the positive economic indicators”, as he insisted on the significance of shaping trends downwards henceforth. The government affirms the success of its ongoing adherence to providing multiple kinds of commodities and factory base materials. This was aided by the further success of the country’s banking sector in providing foreign currency when needed throughout these…
A recent meeting at government headquarters in New Alamein City occurred between Prime Minister, Dr. Mostafa Madbouly, and the Executive Director of the Islamic Corporation for the Development of Trade, Engineer Adib Al-Amy. Also in attendance were multiple officials from relevant government agencies such as Dr. Rania Al-Mashat, the Minister of Planning, Economic Development and International Cooperation and Dr. Sherif Fouad, the Minister of Supply and Internal Trade, while the Minister of Finance, Ahmed Kouchik, joined the meeting through virtual means. Early on, the Prime Minister congratulated Al-Amy on having recently been appointed, and conveyed ambition towards ongoing cooperation between…
A report from the World Economic Forum (WEF) predicts that the tourism industry could add $16 trillion to the global GDP by 2034, a total 11% of the world’s economy. According to the World Bank, in 2024 travel and tourism contributed $10.9 trillion to global GDP, 10.9% of the global economy. The UN said travel and tourism are making a strong recovery following the COVID-19 pandemic drop. Although the industry is experiencing significant growth, it’s not without challenges. The WEF report cited tension between locals and tourists, environmental concerns and workforce deficits as obstacles to the sector’s growth. The WEF…
Chinese Prime Minister, Li Qiang and his Vietnamese counterpart, Pham Minh Chinh held talks to strengthen bilateral cooperation, during the 16th World Economic Forum (WEF) Annual Meeting of the New Champions. Held in Tianjin, China, both leaders highlighted the importance of their nations’ strategic partnership and reviewed the positive outcomes of recent high-level exchanges. Chinh emphasized Vietnam’s commitment to fostering relations with China, describing it as a top priority in foreign policy. He expressed confidence in China’s continued development and global role. Meanwhile, Li Qiang praised Vietnam’s achievements and reiterated China’s support for enhancing ties. The Premiers discussed expanding trade,…
The recent US strikes on Iran’s primary nuclear facilities occurred during a period of significant vulnerability for the global economy. With the World Bank, the Organization for Economic Cooperation and Development, and the International Monetary Fund all revising their global growth forecasts downward in recent months, stakes are high. A major concern is the potential for Iran’s retaliation, which could lead to heightened tensions. Such an escalation might result in increased oil and natural gas prices or disruptions in global trade, further straining the already fragile economic environment. Iran’s parliament also voted to close the Strait of Hormuz following the…
Quito recently hosted the inaugural Economic Investment Forum between Ecuador and the United Arab Emirates. Omar Sultan Al Olma, UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work participated in the event. The forum aimed to strengthen economic ties and explore investment opportunities between the two nations. Trade between the two countries is growing rapidly. In 2023, trade reached $674 million, excluding oil, a 76% jump from the year before. Meanwhile Dubai Ports World has invested $1.2 billion in Ecuador’s Posorja Port.
Agility Public Warehousing Company K.S.C.P. announced a new business strategy aiming to become a national business driver, contributing to government priorities and infrastructure development, including key initiatives under Kuwait Vision 2035. The strategy involves investments exceeding 100 million KWD by 2030, focusing on non-oil sectors. Target sectors include foreign direct investment attraction, port development, industrial real estate, waste management, data centers, food security, and healthcare. To ensure alignment with national goals, the company established a permanent committee for coordination with government entities. Additionally, it plans to distribute in-kind dividends of 20% of its stake in “Agility Global PLC,” listed on…
Germany’s defense sector is experiencing significant growth and is turning to steelmakers to meet rising demands. As the industry expands, collaboration with steel producers has become crucial to sustaining this boom. The partnership aims to ensure a steady supply of materials needed for manufacturing advanced defense equipment.
As tensions between Mexico and the United States agitate over immigration, Mexico’s Business Coordinating Council announced 70,000 job openings to mitigate the economic and social impact of repatriated citizens. A joint government and private sector program, “México te abraza” (Mexico Embraces You) aims to ensure a dignified return for repatriated citizens and provide reintegration opportunities through various services. In coordination with the Ministry of Labor and Social Welfare, over 381 companies have joined the initiative, offering positions to individuals in transit, for both Mexicans and foreigners. Jobs are mainly in hospitality, courier services, and retail sectors. Foreign workers and citizens…
