Friday 17 August 2018 \

 

economy

Qatar to make direct investment of $15B in Turkey

Qatar will make $15 billion of direct investment in Turkey, Qatar’s leader said on a visit to Ankara on Wednesday, said Turkey’s presidential spokesman. 

 

Turkey to trade in local currencies with China, Russia, EU

President Recep Tayyip Erdoğan on Saturday said that Turkey was preparing to trade with its top trade partners like China, Russia, Iran and Ukraine in local currencies instead of the U.S. dollar, adding that it was also ready to do the same with European countries.

Addressing the ruling Justice and Development Party (AK Party) members i,n the Black Sea province of Rize, President Erdoğan also branded interest rates a "tool of exploitation" which should be kept as low as possible.

 

Indonesia wins Moody’s rating upgrade

Indonesia won a credit rating upgrade from Moody’s on Friday, with the agency lauding central bank and government policies for boosting confidence in Southeast Asia’s biggest economy.
 
The upgrade — after similar moves by other ratings agencies — comes at a good time for Indonesia’s president Joko Widodo. Boosting growth is at the center of what could be a tough re-election bid in next year’s presidential ballot.
 
 

China slaps retaliatory tariffs on 128 US products

China has increased tariffs by up to 25 percent on 128 US products including frozen pork, wine and certain fruits and nuts, escalating a spat between the world’s biggest economies in response to US duties on imports of aluminum and steel.
 
The tariffs, to take effect on Monday, were announced late on Sunday by China’s finance ministry and matched a list of potential tariffs on up to $3 billion in US goods published by China on March 23
 
 

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.
 
 

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).

 
 

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