World Bank Expects Tunisia’s Economic Growth to Rebound 3.5% in 2022

 People queue to receives their coronavirus vaccines at El-Menzah Stadium which was turned into a vaccination center in the Tunisian capital Tunis on August 3, 2021. (AFP)
People queue to receives their coronavirus vaccines at El-Menzah Stadium which was turned into a vaccination center in the Tunisian capital Tunis on August 3, 2021. (AFP)
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World Bank Expects Tunisia’s Economic Growth to Rebound 3.5% in 2022

 People queue to receives their coronavirus vaccines at El-Menzah Stadium which was turned into a vaccination center in the Tunisian capital Tunis on August 3, 2021. (AFP)
People queue to receives their coronavirus vaccines at El-Menzah Stadium which was turned into a vaccination center in the Tunisian capital Tunis on August 3, 2021. (AFP)

Tunisia’s economic growth should rebound to 3.5 percent in 2022 and decelerate to 3.3 percent in 2023 compared to 2.9 percent in 2021, according to the latest Global Economic Prospects published by the World Bank.

A surge in COVID-19 cases and political uncertainty throttled the rebound in 2021, the document said.

Economist Jannat bin Abdullah said the economy is affected by the oil prices in the global market. This, in its turn, impacts the trade deficit of the economy.

The Ministry of Finance based the 2021 budget on the reference price of $45, but this figure was proven unrealistic. The country tentatively expected this year’s barrel price to be $75.

Some experts expect the oil prices to exceed this number, and this would negatively affect the economy, said bin Abdullah.



LEAP 2026: Saudi Arabia Leads AI Era with Over $15 Bn in Technology Launches, Investments

LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)
LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)
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LEAP 2026: Saudi Arabia Leads AI Era with Over $15 Bn in Technology Launches, Investments

LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)
LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)

LEAP 2026, the fifth edition of the world's largest tech event, kicked off in Riyadh on Monday under the theme "Into New Worlds," bringing together leading technology and artificial intelligence (AI) figures, investors, and innovators from around the world.

The conference saw the announcement of major launches, investments, and partnerships worth more than $15 billion in AI and advanced technologies, strengthening Saudi Arabia's leadership in digital infrastructure and advanced computing and reinforcing its position as a global destination for technology investment in the intelligent era.

Saudi Minister of Communications and Information Technology Abdullah Alswaha said in his opening speech that the launches and investments were made possible through the support and empowerment of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

Saudi Arabia is steadily advancing toward leading the AI era in partnership with major companies, innovators, and investors from around the world, he added.

Alswaha stressed that Saudi Arabia has established a global model for turning technological ambitions and commitments into tangible achievements, underpinned by agility, reliability, and speed of execution.

Technology and national talent, particularly young people, are driving the Kingdom's progress, he went on to say.

The launches and investments are contributing to the development of an integrated AI ecosystem spanning energy, connectivity, semiconductors, data centers, accelerated computing, AI models, cloud services, and sector-specific applications, supporting the growth of the digital economy and enhancing its global competitiveness.

The conference is organized by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and Tahaluf, a joint venture between SAFCSP, global events company Informa, and the Events Investment Fund.

LEAP 2026 will run until September 3 at the Riyadh Exhibition and Convention Center in Malham, featuring more than 1,000 speakers, 1,900 investors, 1,800 global technology brands, and 600 startups across 16 stages and more than 20 tracks exploring the future of AI, cloud computing, cybersecurity, smart cities, fintech, healthcare, space, gaming, and mobility.


Saudi-Jordanian Business Council Recommends Boosting Economic Cooperation

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi-Jordanian Business Council Recommends Boosting Economic Cooperation

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

Meetings of the Joint Saudi-Jordanian Business Council were held in Jordan’s capital, Amman, to strengthen bilateral partnerships, promote joint projects, and address obstacles to trade and investment flows, SPA reported.

The council’s sectoral committees recommended a package of practical measures and initiatives to strengthen economic and investment cooperation, boost bilateral trade, and facilitate the movement of investors, businesspeople, and goods between the two countries.


Japan Seeks Record $55.6 bln Defense Budget, with AI Focus, Says Ministry

This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)
This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)
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Japan Seeks Record $55.6 bln Defense Budget, with AI Focus, Says Ministry

This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)
This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)

Japan's defense ministry requested a record budget of 8.9 trillion yen ($55.6 billion) on Monday as Tokyo looks to artificial intelligence to speed up decision-making in the face of a tense security environment.

But the final budget reportedly could reach 10 trillion yen as Tokyo undergoes a sweeping upgrade of its defense in order to navigate growing tension with neighbors such as China, North Korea and Russia.