Saudi Arabia's economy expanded by 8.6 per cent in the third quarter of 2022, driven by higher oil prices and government reforms, said the kingdom’s statistics body, General Authority for Statistics (Gastat). The Q3 growth is up from 6.8 per cent recorded in the same period a year ago. Oil activities grew 14.5 per cent, up from 9.3 per cent a year ago, Gastat added. The increase, however, is lesser than seen in the second quarter of 2022, when the surge was 22.9 per cent. While the kingdom has posted six straight quarters of economic expansion after the pandemic, its third-quarter
In an effort to ease the burden of rising utility rates and food prices, Prime Minister Fumio Kishida's government approved Friday an economic package of about 29 trillion yen ($200 billion). This hefty economic package was approved by Japan's Cabinet for government spending to alleviate rising utility and food costs. There has been an increase in inflation in Japan along with a rise in prices around the world. Household subsidies are included in the stimulus package as Kishida attempts to raise his plummeting popularity. Following the July assassination of former Prime Minister Shinzo Abe
Prime Minister Narendra Modi laid the foundation stone of various road and ropeway projects worth more than Rs 3400 crore at the Mana village of Chamoli district. Uttarakhand. Speaking at the occasion, the PM said that the connectivity projects would help improve the economic development of Uttarakhand. "Connectivity is a challenge in mountainous regions. Our government is working on bringing connectivity to such areas. Four-lane expressways are being built to connect the state from Delhi and UP. Delhi-Dehradun economic corridor will encourage businesses in the state," he said. The Prim
The representation of women on boards of companies in India during the last ten years sped up to 18 percent in 2022, but the country is still lagging behind France, Sweden, the US, and the UK, according to a report. From 2013 to 2022, India made noteworthy and rapid progress in increasing women's representation on boards from 6 percent in 2013 to 18 percent in 2022, leading consultancy EY's report titled 'Diversity in the Boardroom: progress and the way forward", said. France stood at the number one position with 44.5 percent women representation on companies' boards, followed by Sweden (4
During the week from October 9 to 16, Telangana secured investments from three companies totalling Rs 1,850 crore, confirming its position as India's premier investment destination. As a result of these three investments, approximately 4,500 jobs could be created. There were contributions from a wide range of industries, including life sciences, edible oils, and jewellery. A positive start to the new week for Telangana was provided by pharma company Hetero, which announced plans to invest around Rs 600 crore in an acquired manufacturing unit. The project will create employment for about 2,
South African President Cyril Ramaphosa’s visit to the Kingdom of Saudi Arabia was summarised by signing a series of memorandum of understanding (MoU) between both countries. As per the report shared by a Saudi state news agency on Monday, the estimated value of those memorandums of understanding is worth more than $15 billion. Both countries agreed on cooperation in the field of agriculture, aquaculture, fisheries, and direct investment cooperation. South African President Cyril Ramaphosa arrived in the Kingdom of Saudi Arabia on Friday, October 14, for a State Visit, which concluded on
World Bank President David Malpass has expressed his interest to work with India to take its successful digitization efforts to other countries so that they can also reap benefits from it, Finance Minister Nirmala Sitharaman has said. Sitharam, who was in Washington to attend the annual meetings of the International Monetary Fund and the World Bank, spoke about this to Indian reporters on Saturday during a press conference. Sitharaman said India was requested to exhibit how Indian people have recognized the intense digital applications. “In fact, today, in my meeting with the World Ba
The U.S.-India Trade Policy Forum (TPF) will be held on November 8 in Washington DC. U.S. trade officials will arrive in New Delhi next week to set the seal on issues for discussion, an Indian government official said. A few weeks ahead of this meeting, it seems likely that the gains are most probably going to be moderate and result in a positive change in the immediate future, considering the structural differences in both economies and political factors in India and the U.S. — both of which have general elections in 2024. The 12th TPF was held in New Delhi in November 2021, after a gap
Trade and investment will be a focus area for Singapore and Thailand, as well as tourism cooperation and digital economy collaboration. In Bangkok on Tuesday and Wednesday, the sixth ministerial meeting on Enhanced Economic Relationships between Singapore and Thailand was co-chaired by Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, and Mr Jurin Laksanawisit, Thai’s Deputy Prime Minister and Commerce Minister. As part of the agreement, Singapore and Thailand formed a Cruise Tourism Task Force to develop a comprehensive road map for promoting cruise t
Union Finance Minister Nirmala Sitharaman said on Tuesday India is talking to different countries to make RuPay acceptable in their nations. “Not just that, the UPI (Unified Payments Interface), the BHIM app, and NCPI (the National Payments Corporation of India) are all now being worked in such a way that their systems in their respective country, however, robust or otherwise can talk to our system and the inter-operability itself will give strength for Indians expertise in those countries,” the FM said. An Indian student studying at the University of Maryland told Sitharaman how pr