Friday 2 December 2022 \

 

economy

Luxembourg pension fund adds to Israel boycott woes

Source : World Bulletin / 28 Feb 2014

Luxembourg's general pension fund (FDC) is boycotting five Israeli banks associated with illegal Jewish settlements in the West Bank.

According to the Israeli website Walla, the state-affiliated pension fund of one of Europe's richest countries will boycott the major Israeli banks as well as about 60 companies around the world, including eight Israeli institutions, for being 'unethical.'

 

Costs of natural disasters in China surge to $69 billion

Source : Reuters / 25 Feb 2014

Natural disasters including droughts, floods and earthquakes cost China 421 billion yuan ($69 bln) in 2013, official data showed on Monday, nearly double the total in the previous year.

China has always been prone to natural disasters but a changing climate is causing more extreme weather, which hits food production, threatens scarce water resources and damages energy security, according to the government.

 

Ban on halal products in Denmark expected to cause financial losses

Source : Al Arabiya / 24 Feb 2014

A recent decision by Denmark’s government to ban the ritual slaughtering of animals is expected to cost the multi-million dollar Danish trade and tourism markets from Gulf states.

Danish exports of halal (in accordance with Islamic law) beef and poultry products are imported in massive quantities by Gulf countries.

 

Gaza's economic woes pile up, unemployment soars

Source : Reuters / 22 Feb 2014

Voices of construction workers and the noise from their tools used to ring out in Gaza's streets. Now hulks of unfinished buildings stand in eerie silence, and the idle builders are left to worry how to make ends meet.

An Egyptian-Israeli blockade on the Gaza Strip, run by the Hamas Islamist movement, has left industry and construction gasping for resources, pushing unemployment to dizzying heights and deepening suffering for impoverished residents.

 

Egyptian debts up and tourism income down

Source : World Bulletin / 21 Feb 2013

Eight months after a military coup that led to the ousting of Egyptian President Mohamed Morsi, Egypt has increased its borrowing, while income from tourism is dwindling.

According to data by Egypt's Ministry of Finance, the government borrowed US$70 billion in the last half of 2013, compared with US$45.4 billion in the first six months - an increase of 53.8 percent.

 

73% of citizens have no houses of their own

Source : Arab news / 20 Feb 2014

Seventy-three percent of citizens do not have houses of their own, a Shoura Council member said on Wednesday.

Saudis have called on the Real Estate Development Fund (REDF) to speed up the disbursement of loans in order to help them build homes before it becomes more expensive.

 

Saudis use nine times more electricity than fellow Arabs

Source : Arab news / 19 Feb 2014

Saudi individuals use on average nine times more electricity than their fellow Arab counterparts in Egypt, Algeria, Sudan and Morocco, according to a report published on Tuesday.

These countries have 185.6 million people, seven times more than Saudi Arabia. Egypt has a population of 79.39 million, Algeria 37.76 million, Sudan 36.43 million and Morocco 32.06 million.

 

Pakistan opens the tap on hydropower projects

Source : Trust.org / 19 Feb 2014

Faced with a chronic power shortage that is stymieing economic growth, Pakistan has announced plans to tap some of the enormous potential for hydropower in the country’s north.

The government aims to add 13,000 megawatts (MW) of electricity to the national grid system through a series of hydro projects ranging in size from 10 to 1,000 MW, according to officials in the federal water and power ministry. This will represent a nearly eightfold increase in hydro capacity.

 

Saudi Arabia tops list of food wasters

Source : IINA / 19 Feb 2014

According to the Rome-based Food and Agricultural Organization (FAO), a third of the food produced globally is wasted and this costs the global economy $750 billion annually, a figure higher than the GDP of several developed countries.

 

Brazilian food exports to Arab countries reach record 17 million tons in 2013

Source : Eat-halal.com / 18 Feb 2014

According to the Arab-Brazilian Chamber of Commerce’s annual report for 2013 released recently, food exports from Brazil to Arab countries reached a record high of 17 million tons for the year with meat, sugar and cereals as the predominant products. Brazilian meat topped the list at over USD 4 billion, a 3% increase in value compared to 2012 with sales volume touched 2 million tons in 2013, representing more than 10% of Brazilian exports to the region. The UAE is the biggest commercial partner for Brazil among Arab countries, with its total imports growing over 5% to reach USD 2.5 billion

 
 

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