Buildings are seen in Riyadh, Saudi Arabia. Reuters
RIYADH: Saudi Arabia’s non-oil private sector saw strong growth in both output and new orders at the start of the second quarter. Despite the improved demand environment and increased optimism among firms towards the outlook, employment showed little change.
Saudi Arabia’s new Energy Minister, Prince Abdulaziz Bin Salman, said on Monday that oil production cuts would benefit all exporting nations. The minister signalled no major change in approach in Saudi Arabia.
The 4th Intersec Saudi Arabia – the Kingdom’s largest trade fair for security, safety, and fire protection – will next year relocate to Riyadh after three successful annual runs in the nation’s red sea port city of Jeddah.
Japan is adopting preventive measures to save economy from the impact of coronavirus on its economy. Japanese Prime Minister Shinzo Abe pledged on Friday to take policy steps as needed to prevent the coronavirus
Thyssenkrupp has agreed to sell its elevators division to a consortium of Advent, Cinven and Germany’s RAG foundation for 17.2 billion euros ($18.7 billion). Analysts say the deal could be the world’s largest buyout in 2020.
The Khalifa Fund for Enterprise Development has announced the signing of a $100 million (Dhs368 million) agreement with the Ethiopian Ministry of Finance in Addis Ababa.