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.
Browsing: Economy
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.
After meeting with officials from the Arab country, the International Monetary Fund praised fiscal efforts but called for “ambitious” reforms to restore growth.
The container shipping company announced it will operate a direct line for refrigerated cargo between South America and the Middle East in October.
Iraq’s Ministry of Construction, Housing, and Public Municipalities announced a new urban road to meet the growing city’s demands.
Brazilian company Alimentos Halal Brasil has already distributed more than 50 copies of a guide that instructs restaurants, hotels, and buffets on procedures for serving food to Muslims.
The international agency upgraded the country’s score from CCC+ to B- with a stable outlook, citing a lower current account deficit, foreign investment, and partner disbursements.
The conglomerate operating in the Middle East, Africa, and Asia has opened new stores in the Arab country. The group’s retail chains include Mumuso, offering a wide range of products, and Duozoulu, specializing in footwear.
Automakers operating in Brazil shipped 57,089 vehicles abroad in August and 378,249 year to date. Boosted by Argentine purchases, exports supported the sector.
