The Brazilian footwear industry hopes to reverse the sharp tariff on sales to the United States but is also seeking new markets to sell its products.
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The projected growth represents a slowdown compared to last year, when the country expanded by 6.3%. Prospects, however, remain positive, according to the IMF.
Saudi oil company’s profit fell 2.3% in the third quarter of this year due to declining oil prices. Uncertain demand has been affecting the market.
The emirate has a special program for the book industry this week, with lectures, business meetings, and visits to local cultural institutions ahead of the opening of its book fair.
The rise in prices compared to August was driven mainly by food. The largest decline was observed in fuel prices.
Unveiling two new perfumes at an event in São Paulo on Wednesday (15), one of Lattafa’s founders, Shoaib Iqbal, told ANBA that he expects strong sales in the Brazilian market and that the company plans to open stores in various locations across the country.
The Public Works Authority announced the start of an infrastructure project in part of the municipality of Umm Slal Mohammed, including the construction of roads and sewage networks.
The company Kuwait Oil Company announced the discovery of a major natural gas area, capable of producing more than 29 million cubic feet per day, according to initial estimates.
Alongside cuts in foreign aid, climate shocks will impact the country’s economy this year, says the International Monetary Fund, following a meeting to discuss a new financial disbursement.
Monetary authority injected nearly USD 370 million to ensure liquidity and cash availability in ATMs and bank branches.
Saudi Arabia and Brazil still do not have an air route, but an updated agreement makes it easier to establish flights between the two countries.
Regulatory agencies of both countries signed a memorandum of understanding and an operational agreement to cooperate on flight safety.
IMF estimates point to a 4.8% GDP growth for the Arab country this year, above the global average. Resilience amid global uncertainty and diversification are key strengths of its economy.
Brazilian machinery and equipment industries saw a rise in revenue from foreign markets in August, according to ABIMAQ data.
