The Emirati gas company announced the distribution of USD 3.41 billion in dividends for the 2024 fiscal year. According to the Chairman of the Board, it is the largest payment of its kind on the Abu Dhabi Stock Exchange.
Browsing: Economy
Information from Ernst & Young indicates that the outlook is favorable for the banking sector in the Gulf Cooperation Council countries, which are benefiting from local economic diversification efforts.
Brazil’s Foreign Trade Chamber has approved an import tax exemption for nine types of food, as previously announced by the federal government, along with measures to facilitate the entry of palm oil into the country. The measure is set to take effect on Friday (14).
In a meeting with the cabinet, the president highlighted that the 2025 budget has been approved, and that the country should implement the suggestions made by the International Monetary Fund delegation.
A USD 60 million investment promises to offer efficiency in water supply and meet the demand of the population in the northern region of the country.
The Brazilian government announced an exemption from import taxes for a series of food items in a bid to curb inflation. They include olive oil and sardines exported by Arab countries.
The North African country was the 17th main supplier in February, according to a survey by Abicalçados.
Annual price inflation fell to 12.8% in February, down from 24% in January. Vegetable prices saw an 8.2% drop, while costs for water, electricity, and gas remained stable.
Brazil’s gross domestic product saw its largest growth since 2021. The expansion of industry, construction, and household consumption were some of the key drivers. As unemployment reached the lowest unemployment, Brazilians increased their spending.
In a cabinet meeting led by the prime minister, the country outlined a plan for the growth of the phosphate sector, which includes raising production to 14 million tonnes per year.
Data from the Saudi Central Bank shows that spending jumped nearly 35% in the Arab country in the week leading up to Ramadan. Families typically prepare for the period and make larger purchases, mainly of food.
In January of this year, USD 60.2 million were exported, mainly in beef, chicken, and sugar.
In January, Brazil’s exports to the Arab country rose by 400%, but overall international shipments were lower than in the same period last year.
Portsudan terminal, on the east coast of the Arab country, has gained a VIP lounge, a specific hangar for customs services, and infrastructure improvements.
