Browsing: Business
Egypt is aggressively expanding its natural gas exploration activities, earmarking a robust $1.9 billion for drilling 45 new exploratory wells in the Mediterranean and Nile Delta regions by mid-2025, the Cabinet confirmed in a statement on Tuesday.
After a string of six quarters in the red, the European Union’s trade balance has swung back into surplus, largely attributed to a dip in energy prices. This is as per the findings from Eurostat, the European Union’s statistical office.
Brazil’s “growth acceleration” plan, known as PAC, has been reintroduced, with a projected 1.7 trillion reais ($347.5 billion) in investments. This new initiative is set to leverage an extensive public-private partnership framework. Alongside, the government aims to drive an ecological transition,
SK Telecom Co., South Korea’s premier wireless service provider, announced a strategic $100 million investment in U.S.-based artificial intelligence (AI) powerhouse, Anthropic. This move underscores the telecom giant’s commitment to broaden its influence in the AI landscape. San Francisco’s Anthropic, renowned
China’s economic landscape is undergoing a seismic shift as it witnesses deflation for the first time since early 2021. Official data reveals a 0.3% decline in the consumer price index for July. This downturn trails reports from the previous day
In a staggering turnaround, WeWork, once pegged at a valuation of $47 billion, saw its shares plummet to near zero. The company sounded the bankruptcy alarm, marking a monumental downfall for a startup that was once the apple of the
In a significant stride towards sustainable agriculture, the UAE has inaugurated a state-of-the-art greenhouse facility. This ambitious venture is a collaboration between ADQ and Safe Haven Solutions, a frontrunner in climate-smart agricultural solutions from the Netherlands. Situated in ADQ’s innovative
Eleven Executive Directors (EDs) of the World Bank Group, representing 95 countries, convened with Union Finance Minister Nirmala Sitharaman in New Delhi on Thursday. During their visit to India, they also explored Mumbai, Ahmedabad, and Lucknow. The Ministry of Finance
The economic prospects of India, the world’s largest democracy, are poised to reach new heights with an expected annual growth rate of 6.7% from 2024, according to a report by leading research and analytics firm, Standard & Poor Global. This
In a recent move to help stabilize Pakistan’s severe economic crisis, the International Monetary Fund (IMF) has sanctioned a nine-month Stand-by Arrangement of US$3 billion. This bailout package, coupled with Saudi Arabia, UAE, and China’s combined financial aid of US$3.7