The Arab country is projected to grow 1.3% in 2023 and 1.4% this year, supported by favorable oil prices and reforms. Agriculture, construction, and services are driving the Omani economy.
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A survey by fintech Vixtra showed the share of sea, air, and land shipping costs in the price of goods imported to Brazil in the last five years. After price hikes during the pandemic, maritime shipping costs decreased last year but rose again in December, impacted by geopolitical issues.
EDGE and the São Paulo state government will carry out a six-month trial of public security systems to identify critical areas and track criminal activities, among other capabilities.
Exports expanded both in revenue and volume, industry lobby ABPA reported. ABPA president Ricardo Santin believes this results from international promotion actions. Saudi Arabia is the top exporter.
The global flow of foreign direct investment reached USD 1.37 trillion last year, with a slowdown in developed and developing nations, according to UNCTAD data. The United Arab Emirates and Saudi Arabia saw higher investments in their greenfield projects.
Saudi Arabia’s investment minister Khalid al-Falih said at the World Economic Forum in Davos that the energy transition will be at the core of the Gulf region’s strategy to fuel its growth.
TudoAzul and Emirates Skywards promise to offer more benefits for frequent flyer members.
A memorandum of understanding was signed on the sidelines of the Future Mineral Forum with the Royal Commission for Jubail and Yanbu, the region where an iron ore briquettes project will be implemented.
The Arab country’s economy is projected to sustain its 2023 growth rate this year, according to the Fund’s projections. The IMF approved a new disbursement to support Jordan’s economic development.
Results released by the vehicle manufacturers association revealed a 16% decrease in foreign sales of light commercial vehicles, buses, and trucks.
According to data from the International Air Transport Association, air travel demand in November 2023 reached 99.1% of November 2019 levels.
There was a 10.8% drop in revenue and a 16.6% decrease in volume from 2022, according to sector association data. In December, Libya imported USD 730,000.
GDP growth prospects were published on “World Economic Situation and Prospects 2024” report, which also forecasts challenges for the growth of Africa as a whole.
The negative balance in current transactions was of USD 1.55 billion, a drop from 2022.
