Category: Business

Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, has affirmed the strength of the deep-rooted fraternal Bahraini-Saudi ties, which have always been based on distinguished strategic partnership, unified stances and joint coordination in various fields, thanks to the care and support of His Majesty King Hamad bin Isa Al Khalifa and the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.

The minister stressed the importance of the Saudi-Bahraini Coordination Council, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, the Crown Prince and Prime Minister of Saudi Arabia, in strengthening the paths of cooperation and integration between the two countries and pushing them towards achieving more common gains, in a way that would contribute to realising shared visions and goals.

Shaikh Salman bin Khalifa made the statements during the third meeting of the Coordination Committee for Economy, Energy, Trade and Industry of the Saudi-Bahraini Coordination Council, which convened remotely today.

Bahrain’s Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa, and Saudi Minister of Economy and Planning, Faisal bin Fadhel Al-Ibrahim, co—chaired the meeting.

The two sides reviewed the progress of the implementation of the initiatives and recommendations that fall under the framework of the committee’s work.

They were also briefed on the results of the efforts of the joint taskforces, as well as on the achievements attained so far to reach the goals set by the Saudi-Bahraini Coordination Council to enhance economic integration between the two countries.

Source: Bahrain News Agency

The real GDP of Saudi Arabia grew by 1.1% in the second quarter of 2023, compared to the second quarter of 2022, according to the General Authority for Statistics (GASTAT).

Flash estimates for the GDP in Q2 of 2023, issued in a report by GASTAT, showed a 5.5% increase in non-oil activities in Q2 of this year over the same period of last year, and a 4.2% decrease in oil activities compared to Q2 of 2022.

According to the report, seasonally adjusted real GDP decreased by 0.1% in Q2 of 2023 compared to Q1 of 2023.

GASTAT is the only official reference for statistical data and information in Saudi Arabia. It carries out all statistical work, as well as the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and researches, analyzes data and information, and documents and archives all works containing information and statistical data on all aspects of life in Saudi Arabia. It gathers, classifies and analyzes data, and extracts indicators from it.

Source: Saudi Press Agency

The Minister of Foreign Affairs and International Cooperation, Naglaa Al-Mangoush, discussed today, Sunday, with the Turkish Ambassador to Libya, Kanaan Yilmaz, ways to enhance and support economic cooperation between the two countries, facilitate the issuance of visas for citizens, and issue long-term visas for businessmen in both countries. the two countries.

This came during a meeting between Al-Manqoush and the Turkish ambassador at the ministry’s office in Tripoli. He also discussed the exchange of experiences and the implementation of training programs between the Libyan and Turkish diplomatic institutes.

For his part, Turkish Ambassador “Kanaan Yilmaz” renewed his country’s support for the efforts of the government of national unity, and the efforts of the Foreign Minister to maintain stability in Libya.

This meeting came as Libya was preparing to participate in the fifth edition of the “Metal Expo” exhibition for metal industries in Istanbul, Turkey, during the period between 27 and 30 September.

Source: Libyan News Agency

The Saudi Stock Exchange main index ended trading lower today, losing 58.44 points to close at 11789.28 points.

The total value of trading reported was SAR 4.8 billion, while the total number of shares traded was 173 million.

The Saudi Parallel Market Index (NOMU) ended the day by gaining 536.68 points to close at 25056.18 points, with a valuation of SAR 32.2 million.

Source: Saudi Press Agency

Jordanian exports to the European Union (EU) countries grew by 23.4 per cent during the first five months of 2023 to reach about JOD 136 million compared to about JOD 110 million for the same period last year.

According to Jordan News Agency (Petra), foreign trade data issued by the Department of Statistics indicated an increase in the value of the Kingdom’s imports from the EU during the first five months of 2023 by 3.6 per cent, reaching JOD 1.182 billion compared to JOD 1.140 billion for the same period last year.

The Netherlands topped the list of European countries in terms of Jordanian exports to the EU countries in the first five months of this year, reaching JOD 38 million, while Germany topped the list of countries from which Jordan imports, with the value of the Kingdom’s imports amounting to approximately JOD 253 million.

Source: Bahrain News Agency

Ministry of Works announced that the resurfacing works on Zallaq Highway from Awali Roundabout to Sakhir Roundabout necessitate closure of one lane and two lanes on stages for westbound traffic to Zallaq as follows:

1. Closure of one lane on stages for westbound traffic to Zallaq and two lanes will be provided for traffic movement during working days 24 hrs continuous.

2. Closure of two lanes on stages for westbound traffic to Zallaq and one lane will be provided for traffic movement during weekends from Thursday at 11:00 pm to Sunday at 05:00 am

The closure will be effective from Monday July 31 for a total of one month.

Source: Bahrain News Agency