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Inflationary pressures eased on the private sector in July, according to data from the S&P Global Purchasing Managers’ Index. The non-oil private sector in Dubai continued to grow rapidly in July, aided by an increase in new business in the emirate. The index increased from 56.1 to 56.4 points in July, its best monthly performance since June 2019. The data …

The Saudi government’s oil revenue nearly doubled in the second quarter, despite Aramco’s dividends remaining unchanged. According to financial statements released on Monday, the oil giant paid the government more than $65 billion for its 94 percent contribution during the second quarter, up from $35 billion the previous year. This money is a combination of dividends, income taxes, and oil …

The Algerian oil and gas agency Sonatrach, on Wednesday, discovered large quantities of crude oil, 151 million barrels in the southwestern state of Adrar. And the company had previously delayed, in May, an agreement with the Chinese Sinopec Petroleum and Chemical Company, and the production of a joint production of oil worth 490 million dollars. Algeria’s national energy company, Sonatrach, …

The Algerian oil and gas agency Sonatrach, on Wednesday, discovered large quantities of crude oil, 151 million barrels in the southwestern state of Adrar. And the company had previously delayed, in May, an agreement with the Chinese Sinopec Petroleum and Chemical Company, and the production of a joint production of oil worth 490 million dollars. Algeria’s national energy company, Sonatrach, …

The decline in imports was accompanied by a boom in energy and commodity sales Russia’s current account surplus has more than tripled since the start of the year from last year, after hitting record levels since the invasion of Ukraine, as lower imports coupled with booming revenues from energy and commodity sales abroad. The current account surplus, the broadest measure …

The Egyptian authorities refused entry to an Indian shipment of wheat that the boat it was carrying had diverted from Turkey to Egypt. The head of the Egyptian Agricultural Quarantine, Ahmed Al-Attar, told Sky News Arabia: “We received a request from a company that owns 55 thousand tons of Indian wheat shipment and wants to enter Egyptian ports after it …

Data from the Omani Ministry of Finance showed that the budget surplus from the beginning of this year until April amounted to 468 million Omani riyals, compared to a deficit of 828 million Omani riyals during the same period last year. Public spending amounted to 3.749 billion riyals, an increase of 4.2% on an annual basis during the first four …

Data showed today, Friday, that the annual inflation rate in Turkey jumped to its highest level in 24 years, recording 73.5% in May, a level lower than expectations, but it is driven by the repercussions of the war, the rise in commodity prices and the lira that has been declining since a crisis in December. The Turkish Statistical Institute said …

Friday, the Egyptian Cabinet announced that Egypt and the International Islamic Trade Finance Corporation have signed the amended framework agreement to finance the import of basic commodities with a credit limit of $6 billion. Egypt, which is dependent on imports, used the money to buy basic items such as wheat and petroleum. The Minister of International Cooperation, Dr. Rania Al-Mashat, …

Morocco is moving steadily towards making the “blue economy” one of the main pillars for achieving comprehensive development in the country, given the important capabilities and qualifications that the Kingdom possesses in this field. In order to support Rabat’s efforts in its pursuit of this goal and to support the launch of plans for this sector, the World Bank recently …