Friday 7 October 2022 \

 

economy

Palestinians struggle to make ends meet as food prices rise

Source : Al Arabiya / 27 June 2013

Palestinians are finding it hard to secure payments for food as certain prices in the territories have doubled.

Suhaib Hamad, dressed in traditional attire, has sold licorice juice in the vegetable market in Ramallah for the last five years. Hamad sells one licorice-filled glass for a quarter of a dollar. But the demand for his juice is taking a dive as the price of sugar, the main ingredient for the drink has doubled.

 

Saudi Arabia tops Arab world with $ 12.2 bn FDI inflow

Source : Khalil Hanware / 20 June 2013

Saudi Arabia topped the list as foreign direct investment (FDI) into Arab states rose by 9.8 percent last year.

Despite unrest in some of them, FDI in Arab states exceeded $ 47 billion in 2012 compared with $ 42.9 billion the previous year, the Kuwait-based Arab Investment and Export Credit Guarantee Corp. (AIECGC) said in its annual report released yesterday.

 

Saudis’ spending on summer vacations to hit $5.1bn, says report

Source : Al Arabiya / 18 June 2013

Saudis are expected to spend around 19.5 billion riyals ($5.1bn) on their summer vacations, marking an 8 percent rise on last year, according to the Aleqtisadiah newspaper.

The number of trips from Saudi is expected to reach 6 million this summer, while foreign tourists are expected to make 4.8 million trips to Saudi Arabia, according to a report by the Saudi Commission for Tourism and Antiquities.

 

Sudan’s garbage economy a lifeline for scavengers

Source : AFP / 17 June 2013

Just after the footpath beside the school passes into the cool late afternoon shadows, a gentle cracking sound signals that Doud Sebet has arrived.

He sits on a piece of cardboard, with one long leg out in front of him and the other tucked underneath.

 

Amnesty sees 180,000 illegal workers leave Saudi, report says

By AFP / 10 June 2013

Some 180,000 illegal foreign workers have left Saudi Arabia since April 1 under an amnesty that allowed them to try to sort out their papers or leave without paying a penalty, a report said on Sunday.

“Between the beginning of April and the start of June, 180,000 foreigners left the kingdom for good,” the Okaz daily quoted Badr Malek, spokesman for the passports department, as saying.

 

Help feed the world by cutting food waste, study urges

By Megan Rowling / 6 June 2013

One of out every four calories produced by the world's farming system is being lost or wasted, setting back efforts to reduce hunger and provide enough food for a fast-growing global population, researchers said on Wednesday.

 

Analysis: Glimmer of hope for cash-starved Pakistan economy as Sharif takes over

By Tomasz Janowski / 5 June 2013

Pakistan's economy is in its worst shape in nearly a decade and yet there is a sense of hope that the incoming government not only seems to know what is needed to fix it but, for once, may also have enough determination and clout to do it.

Former prime minister Nawaz Sharif swept back to power in last month's election, riding a wave of public anger at rival Pakistan People's Party's failure to tackle endemic corruption, power cuts and militant violence.

 

UAE’s household wealth increases by 8.2%

By Zaher Bitar / 5 June 2013

The UAE’s household wealth increased by 8.2 per cent in 2012 while the total value registered at $400 billion belonged to 57,000 families across the emirates, according to The Boston Consulting Group’s (BCG) thirteenth annual global wealth management report, Maintaining Momentum in a Complex World: Global Wealth 2013.

 

New U.S. sanctions target Iran’s currency, auto industry

Source : Al Arabiya with Agencies / 4 June 2013

The United States announced additional sanctions on Iran Monday targeting its currency and automobile industry, stepping up pressure over Tehran’s nuclear program.

An executive order by President Barack Obama authorizes sanctions on foreign financial institutions that make transactions in the rial currency or keep accounts denominated in the rial outside the country.

 

Libya hosts construction exhibition to boost investment

Source : Reuters / 24 May 2013

Libya is hosting the ninth edition of the annual Building and Construction exhibition ‘Build Libya’ in its capital Tripoli.

The exhibition this year comes as part of the north African country’s efforts to boost local and foreign investments and improve its infrastructure two years after the revolution that toppled former president Muammar Qaddafi’s 42-year rule.

 
 

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