عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Sudan Inflation Slows in Feb to 258.40%

A man waits to buy food at a market in Khartoum. REUTERS/Mohamed Nureldin Abdallah
A man waits to buy food at a market in Khartoum. REUTERS/Mohamed Nureldin Abdallah
TT
20
TT

Sudan Inflation Slows in Feb to 258.40%

A man waits to buy food at a market in Khartoum. REUTERS/Mohamed Nureldin Abdallah
A man waits to buy food at a market in Khartoum. REUTERS/Mohamed Nureldin Abdallah

Sudan’s annual inflation slowed to 258.40% in February, from 259.8% in January, the statistics bureau said on Tuesday.

The Central Bureau of Statistics attributed the continued rise in prices to the price surge witnessed in February 2021.

The bureau said in a press statement that the monthly inflation rate of the general index of consumer and service prices recorded 14.39% during February 2022, compared to an average of 2.06% in January 2022.

The transportation group recorded the highest contribution rate to the monthly inflation rate, amounting to 87.13%, due to the rise in fuel prices.

The food and beverage group came next at 4%, followed by the total of household fixtures and equipment and routine maintenance work at 3.07%, due to the rise in the prices of cement and other household maintenance equipment.

The rate pf housing, water, electricity, gas, and other types of fuel group recorded 1.84%, due to a rise in electricity tariff and gas prices, in addition to a group of various goods and services at 1.26%.

Most Viewed

 
Business

Abu Dhabi's XRG Targets Gas, LNG Capacity of 20-25 Million Tons a Year by 2035

Sultan Al Jaber, COP28 President, speaks at the United Nations climate change conference COP29 opening in Baku, Azerbaijan November 11, 2024. REUTERS/Maxim Shemetov/File Photo
Sultan Al Jaber, COP28 President, speaks at the United Nations climate change conference COP29 opening in Baku, Azerbaijan November 11, 2024. REUTERS/Maxim Shemetov/File Photo
TT
20
TT

Abu Dhabi's XRG Targets Gas, LNG Capacity of 20-25 Million Tons a Year by 2035

Sultan Al Jaber, COP28 President, speaks at the United Nations climate change conference COP29 opening in Baku, Azerbaijan November 11, 2024. REUTERS/Maxim Shemetov/File Photo
Sultan Al Jaber, COP28 President, speaks at the United Nations climate change conference COP29 opening in Baku, Azerbaijan November 11, 2024. REUTERS/Maxim Shemetov/File Photo

XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), is aiming to have a gas and LNG business with a capacity of between 20 million and 25 million metric tons a year by 2035, the company said in a statement on Tuesday.

XRG was set up last year as an investment company focused on lower-carbon energy, gas and chemicals, with assets of more than $80 billion.

On Tuesday, its board, whose members include former BP CEO Bernard Looney and Blackstone's Jon Gray, approved the capacity target and a new five-year business plan.

Board members also supported the assessment of potential gas acquisitions and LNG opportunities in North America, Reuters reported.

ADNOC's current US investments already sit under XRG, and the oil giant's Chief Executive Sultan Al Jaber said in March that XRG would make a significant investment in US natural gas in coming months.

XRG has also changed the name of its low carbon energies platform to Energy Solutions to reflect the full scope of the company's strategy, including energy demand linked to artificial intelligence and the digital economy, a company spokesperson said on Tuesday.

The board "endorsed the company's ambition to create a top three global chemicals platform," XRG said.

ADNOC had agreed in October to buy German chemicals maker Covestro for 14.7 billion euros ($16.73 billion) including debt. Jaber later said it would sit under XRG.