Tuesday 16 August 2022 \

 

Economy

Cinema chains, amusement park operators queue up to enter Saudi Arabia market

So far, it has been all about meeting Donald Trump and other political bigwigs. But there is much more on the agenda for Crown Prince Mohammed bin Salman in his first official visit to the US.
 
In his seven-city tour of America, the prince is also meeting corporate CEOs with a view to striking deals with companies dealing in renewable energy, high tech, sport, tourism and, perhaps most importantly, entertainment.
 
 

Putin's landslide victory to attract additional $30bn to Russian economy

Vladimir Putin’s re-election as Russian president will ensure the continuation of an economic policy that has seen a major spike in foreign investment, says head of the Russian Direct Investment Fund.
 
"Since the elections are over, it will allow institutional investors to actively implement projects in Russia in the medium term, which can provide an additional influx of $25-30 billion into the Russian economy," RDIF’s Kirill Dmitriev told reporters.
 
 

Saudi Arabia's Haramain train speeds toward a 2018 opening

The SR60 billion ($16 billion) high-speed Haramain train is on track to be fully operational this year, according to Minister of Transportation and Chairman of the Saudi Railway Organization Nabil Al-Amoudi.
 
He said that the service will be functional for the public in 2018, in conformity with all safety measures and operational readiness for high-speed transportation.
 
 

Nigeria cancels signing of Africa free trade deal

Nigeria has officially put off signing the framework agreement for establishing the African Continental Free Trade Area (ACFTA) following protests by major labor unions which warned that the deal would harm the local economy. 
 
The country's foreign ministry spokesman said in a statement Sunday night that President Muhammadu Buhari has cancelled his trip to the Rwandan capital Kigali where African heads of state were scheduled to ink the agreement this week.
 
 

France most popular European travel destination for Muslims

Source : HalalFocus / 03 Oct 2014

France has emerged as the most desirable travel destination in Europe by Muslim tourists particularly among Malaysian travelers, according to a poll of travelers in the Middle East and Southeast Asia.

 

Russia, Iran agree to boycott US dollar in bilateral trade

Source : GlobeMuslims / 03 Oct 2014

Russia and Iran have agreed to use their own national currencies in bilateral trade transactions rather than the U.S. dollar.

Iran’s IRNA news agency reported that the plans were announced in a meeting on Tuesday in Tehran by Iranian business magnate and head of the Iran-Russia Joint Chamber of Commerce, Asadollah Asgaroladi.

 

Palestinian govt calls for $4 bn for Gaza reconstruction

Source : AFP / 02 Oct 2014

The Palestinian government on Thursday in a reconstruction plan for Gaza ahead of an October 12 donor conference called for $4 billion to rebuild the war-battered territory.

Gaza’s infrastructure was devastated during a 50-day Israeli military operation which killed nearly 2,200 Palestinians, while attacks by Gaza militants killed 73 on the Israeli side.

 

Prices of sanctioned goods grow 3 times faster

Source : Itar-Tass / 27 Sep 2014

The prices of products affected by the Russia's retaliatory sanctions grew almost three times faster than those of other staples, the Ministry of Economic Development said on Friday.

 

Organic farming gaining popularity in Saudi Arabia

Source : Saudi Gazette / 27 Sep 2014

Last week, Saudi Agriculture 2014, the 33rd international agriculture, water, and agro-industry trade show, took place at the International Convention and Exhibition Center in Riyadh.

Organic farming was one of the topics addressed at the exhibition. Under the patronage of the Ministry of Agriculture, the Department of Organic Agriculture (DOA) participated with its own organic farming pavilion, a joint venture with on one side the ministry and the German GIZ International Services’ “Organic Farming Project” and on the other the Saudi Organic Farming Association (SOFA).

 

Palestine premier urges $ 3.8bn in aid for Gaza reconstruction

Source : Presstv / 26 Sep 2014

Prime Minister of the Palestinian unity government Rami Hamdallah has called for USD four billion in urgent aid for the reconstruction of the war-torn Gaza Strip. 

Hamdallah said Tuesday that he has asked the international community to donate 3.8 billion dollars of international aid to help Palestinians rebuild Gaza following its devastation as a result of Israel’s war on the impoverished enclave this summer.

 
 

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