International and Arab News
Business
German Unemployment Still Largely Steady Despite Lockdown
German unemployment held more or less steady in February despite the impact of lockdown measures, according to official data released Tuesday.
Lebanon Currency Hits Record Low as Country's Crises Worsen
The Lebanese pound hit a record low against the dollar on the black market on Tuesday as the country’s political crisis deepens with no prospects of new Cabinet in the near future and foreign currency reserves dwindle further. The dollar was trading at 9,975 Lebanese pounds around noon Tuesday.
Egypt Shifting towards Sustainable Transport at Rapid Pace
Egypt is advancing at a rapid pace towards sustainable transport, relying on the reform plan adopted by the government since it launched its Economic Reform Program in 2015. In addition to the high-speed electric train line linking Egypt’s eastern and northern coasts and the decision to replace o
Saudi Arabia to Determine Cost of Affordable Solar Energy for Electricity Production
Saudi Arabia will begin working in March on determining the cost of affordable solar energy for the purposes of generating and producing electricity, revealed Saudi Energy Minister Prince Abdul Aziz bin Salman.
IMF Urges Tunisia to Cut Wage Bill, Energy Subsidies
The International Monetary Fund urged Tunisia on Friday to cut its wage bill and limit energy subsidies to reduce a fiscal deficit. The IMF said in statement that monetary policy should focus on inflation by steering short term interest rates, while preserving exchange rate flexibility. Tunisi
Egypt to Activate Cooperation Mechanisms With Iraq to Double Development Rates
Egypt’s CEO of the General Authority for Investment and Free Zones (GAFI) Counselor Mohammed Abdel Wahab met with Iraqi Prime Minister Mustafa al-Kadhimi on Friday.
PIF: Forging Partnerships Places Saudi Arabia at Forefront of Developing Promising Sectors, Emerging Industries
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has developed a strategy for expanding international assets that is centered around investing in some of the world’s most innovative companies.