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economy

Gates up, Saudi’s Prince Alwaleed down in Forbes rich list

Source : Al Arabiya / 05 Mar 2014

Bill Gates has regained his crown as the world’s richest person – but Saudi Arabia’s Prince Alwaleed has fallen in Forbes magazine’s annual billionaire ranking.

The list found that Microsoft co-founder Gates has a net worth of $76 billion, overtaking Mexican telecom mogul Carlos Slim Helu, who holds an altogether more modest $72bn.

 

Singapore named the world's most expensive city

Source : BBC / 05 Mar 2014

Singapore has topped 131 cities globally to become the world's most expensive city to live in 2014, according to the Economist Intelligence Unit (EIU).

The city's strong currency combined with the high cost of running a car and soaring utility bills contributed to Singapore topping the list.

 

Forbes Top 10 Billionaire Cities

Source : Forbes.com / 04 Mar 2014

Moscow has held onto its title as the billionaire capital of the world. This is the fourth time in the past five years that Russia’s capital stays ahead of New York on top of our list of billionaire haunts – those cities that are the primary homes to the most billionaires. Eighty-four of the world’s richest, worth a total of over $366 billion, call Russia’s most populous city home. New York City continues to rank second, with 62 billionaires worth $280 billion. London and Hong Kong tie for third place, with 43 billionaires each.

 

Gaza unemployment rises to 39%

Source : AA / 04 Mar 2014

Unemployment rose to 39 percent of the workforce in the Gaza Strip as a result of the Egyptian destruction of underground tunnels between Egypt and Gaza, the Ministry of the Economy in Gaza said on Sunday.

"This means that the number of jobless people in Gaza has risen to 140,000," Hatem Uweida, the ministry undersecretary, told a press conference.

 

Ruble Dives to Historic Low Against Euro-Dollar Basket

Source : RIA Novosti / 03 Mar 2014

Russia’s currency fell to a historic low on Monday as stock markets in Moscow lost more than 9 percent of their value minutes after trading began.

Such a crash was widely predicted by experts after Russia approved the use of military force in Ukraine on Saturday, prompting widespread condemnation from the international community.

 

Tourism sector to create 1.8m jobs by 2020

By Rashid Hassan / Arab news / 03 Mar 2014 

The tourism sector is set to create about 1.3 million jobs by 2015 and about 1.8 million by 2020, offering direct employment opportunities in its sub-sectors and indirect jobs in areas induced by tourism-related activity, according to the annual report of the Saudi Arabian Monetary Agency (SAMA) for 2012-13.

 

Iran may become top gas importer by 2025, says official

Source : Reuters / 03 Mar 2014

Iran is on course to become the world’s largest importer of natural gas by 2025 unless it can rein in rampant domestic demand, the head of research at the country’s energy ministry told a conference in Tehran.

Iran sits on the world’s largest gas reserves, according to estimates by BP, and Iranian energy officials have boasted for years about becoming a top gas exporter soon.

 

Japan plans to provide $200 mil. in aid to Palestinian

Source : Japan Times / 01 Mar 2014

Japan plans to provide about $200 million, or around ¥20.4 billion, in aid to the Palestine Authority as part of efforts to promote Middle East peace talks, a government source said.

The administration is apparently aiming to mend ties with the United States, following Prime Minister Shinzo Abe’s visit to the war-linked Yasukuni Shrine in December by supporting U.S. efforts for Middle East peace ahead of President Barack Obama’s visit to Japan in April.

 

European natural gas demand continues to decline

Source : AA / 01 Mar 2014

Reports show that natural gas consumption in Europe has been declining since 2011, due to a number of factors including the 2007 financial recession and the increasing consumption in favorably priced North American coal.

According to reports released by the International Energy Agency (IEA), annual natural gas consumption in 2011 in Europe was 8% lower than in 2010, while consumption of coal was 6% greater.

 

India tops Saudi Arabia’s investment destinations

Source : Arab news / 28 Feb 2014

India is increasingly pursuing an unannounced policy of Looking Mid-West — a region comprising the Gulf and WANA (West Asia-North Africa), spanning Iran to Syria. As much as 60 percent of India’s oil and gas requirement is sourced from this region, Arab News reports.

Saudi Arabia is one of the most important countries when one talks about New Delhi’s unstated policy of Looking Mid-West.

 
 

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