Tuesday 23 October 2018 \

 

economy

Global steel demand to increase 2.1% in 2018

Global steel demand will reach 1,657.9 Mt in 2018, an increase of 2.1% over 2017, World Steel Association (worldsteel) said Monday in its Short Range Outlook (SRO) during its bi-annual meeting Tokyo, Japan.

 

UAE climbs up passport rankings, now 7th most powerful

Nearly three weeks after making the leap to the 8th most powerful in the world, the UAE passport has risen yet again in the ranks to the 7th place.
 
Citizens of the UAE can now enter 159 countries worldwide without a visa or with visa on arrival.
 
The UAE's passport ranking score is 159 in the Passport Index, with UAE's citizens allowed to travel to 112 countries without a visa, and to 47 countries with visa on arrival.
 
 

Putin: Russia and Belarus can bring mutual trade to $50 bln

Moscow and Minsk can bring mutual trade to $50 billion, Russian President Vladimir Putin said.
 
"We are able to bring mutual trade to the $50 billion level. To compare, I just visited India with population of 1.1 billion people, whose trade turnover with Russia is roughly $10 billion," TASS cited the Russian leader as saying.
 
 

World Bank: Georgia leads in fighting corruption

Georgia has reached a historic high in terms of effectiveness of corruption control and governance, according to the World Bank report 'Worldwide Governance Indicators'.
 
Georgia scored 77.40% on Control of Corruption 100% scale, which is a historic high, Agenda.ge reported.
 
 

Turkey records world's second-highest increase in gold reserves

old, known as a "safe haven," has come to be preferred by central banks as well as individual investors since the outbreak of the global financial crisis. Central banks in the first half of this year added 193.3 tons of gold to their reserves, the highest level since 2015. With 125.8 tons of gold, Turkey was named the second country achieving the highest increase in gold reserves since early 2017.
 
 

Libya Seeks 1Mln Tonnes Of Russia's Wheat, Animal Feed For $700Mln - Economy Minister

 Libya is eager to buy 1 million tonnes of wheat and animal feed from Russia for around $700 million, Libyan Government of National Accord Economy and Industry Minister Nasir Shaglan said in an interview published Sunday.
 
 

Russia and Azerbaijan may increase trade turnover by 25%

Azerbaijan and Russia may increase trade turnover by 20-25%, Russia's Deputy Economic Development Minister Azer Talibov said on the sidelines of the 9th Azerbaijan-Russia Interregional Forum.
 
According to him, in order to achieve this goal, it is necessary to eliminate certain obstacles in mutual trade. "If these obstacles are eliminated, we can increase the turnover by 20-25%," the deputy minister stressed.
 
 

Deutsche Bank: ruble among most undervalued currencies

The ruble ranked among the top three undervalued world currencies, according to Deutsche Bank's Behavioral Equilibrium Exchange Rate (BEER). It is 15% weaker than its "fair rate," the bank's economist said. In the review of Deutsche Bank, the analyst predicts the strengthening of the Russian currency to 60 rubles per dollar.
 
 

More UAE employees receive salary hikes in 2018

More employees across all UAE economic sectors received salary increases in 2018 compared to the previous year, with 72% of companies across the country awarding their workers raises. 
 
The number of companies paying out bonuses also increased to 65% across all organisations surveyed compared to just 50% in 2017, said new data from the Korn Ferry 2018 Salary and Benefits Study.
 
 

Saudi Arabia raises $2 billion with new Islamic bonds

Saudi Arabia has raised $2 billion in new sukuk, or Islamic bonds, completing its external funding requirements for 2018.
 
The transaction is the kingdom’s second international sale of sukuk after a $9 billion issue last year.
 
The bond sale was “part of the Ministry of Finance’s commitment to the development of the Shariah-compliant debt capital markets,” the country’s debt management office said in a statement on Thursday.
 
 
 

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