The volume of global debt reached its highest level last September, hitting $253 trillion, the Institute of International Finance (IIF) announced yesterday, adding that it was set to grow in 2020.

The IIF report said the debt increase was mainly driven by large borrowing by governments and non-financial corporations, marking an uplift from $250.9 trillion at the end of the second quarter of 2019.

“The"...

Gazprom Neft and ICS Holding have set up a joint venture to develop digital products for the oil and gas industry and roll them out in the Russian and global markets.

The development strategy for the new joint venture is aimed at addressing the challenge of digitally transforming the oil and gas sector through the application of Industry 4.0 technologies. The most promising"...

Damascus, SANA- The revenues of the General Establishment for Free Zones have reached up to SYP 4.5 billion in the year 2019 while the capital invested in them reached USD 628 million in parallel with continuing the projects of rehabilitating their facilities and activating the economic activity in them, in addition to handling the situations of their investors, and finding solutions to overcome the unilateral coercive economic measures imposed on Syria.

Director"...

Homs, SANA- A 40 percent increase in number of industrial and crafts facilities which entered production in 2019 in comparison with 2018 and that reflects a quick recovery in this important productive sector, according to Director of Homs Industry, Bassam al-Saed.

Speaking to SANA, al-Saed said that the number of industrial and craft facilities which resumed production in 2019 reached at 101 facilities with a capital estimated at more than SYP 2"...

BERLIN: The German economy grew by 0.6 per cent in 2019, the weakest expansion rate since 2013 and a marked cooling from the previous year, as exporters in Europe’s largest economy faced increased headwinds from trade disputes.
The preliminary estimate, released on Wednesday by the Federal Statistics Office, was in line with a Reuters poll of analysts and followed growth in gross domestic product (GDP) of 1.5 per cent in 2018.
“This means that the German economy grew the tenth year in a row. This is"...

WASHINGTON: The US-China trade war is set to enter a new, quieter phase on Wednesday as US President Donald Trump and Chinese Vice Premier Liu He sign an initial trade deal that aims to vastly increase Chinese purchases of US manufactured products, agricultural goods, energy and services.
The Phase 1 agreement caps 18 months of tariff conflict between the world’s two largest economies that has hit hundreds of billions of dollars in goods, roiling financial markets, uprooting supply chains and slowing global growth....

UAE-based Bee’ah, a top recycling and waste management company, and the National Central Cooling Company (Tabreed) have partnered to explore the development of large-scale district cooling projects in Sharjah.

The partnership was signed today by Khaled Al Huraimel, Bee'ah Group CEO, and Bader Saeed Al Lamki, Tabreed CEO, reported Emirates news agency Wam.

Under the agreement, Bee’ah and Tabreed will develop potential district cooling projects that are more environment-friendly and"...

The world’s latest innovations in sustainable tech – from highly efficient solar photovoltaic panels, to solutions that can convert humidity into water, and waste bins that can automatically sort recycling – are on show this week at the World Future Energy Summit, highlighting a market opportunity worth an estimated $9 billion.

“More than 800"...

LONDON: Former Barclays chief executive John Varley first suggested the bank could use a side deal to satisfy Qatar’s demands for extra cash in return for rescue funding for the bank during the 2008 credit crisis, a London court heard on Tuesday.
Thomas Kalaris, one of three former top Barclays bankers who deny fraud linked to the capital raising, on Tuesday described a meeting with a senior Qatari official on June 3, 2008, and how he subsequently took the service lift to Varley’s office on the 31st floor"...

BEIJING: China’s trade surplus with the United States narrowed last year as the world’s two biggest economies exchanged punitive tariffs in a bruising trade war, official data showed Tuesday.

The figures were released just a day before the US and China are expected to sign a “phase one” agreement that marks a de-escalation in their two-year conflict.

The"...