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The Saudi Prince’s visit to Oman: 13 MoUs signed between Oman and Saudi Arabia.

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13MoUs signed while visit of Saudi prince in Oman

Today, new projects agreements were done on 7th Dec 2021 between Saudi and Oman. The outcome of The Saudi Prince’s visit to Oman can be seen with 13 MoUs signed between Oman and Saudi Arabia. The Sultanate of Oman and the Kingdom of Saudi Arabia signed 13 memoranda. 

saudi and omna prince photos

saudi and omna prince photos

Three MoUs signed in petrochemicals, renewable energy, and green hydrogen sector: 

All three MoUs are important in both places. The first with ACWA Power, the second with Aramco and the third with Sabic. In dry dock and logistic services, Asayad signed an MoU with a Saudi Shipping Company. Oman Mining Company approved an MoU with Saudi Mining Company to assess exploration opportunities in the mining sector. Total 13 MoUs signed between Oman and Saudi Arabia.

Omran confirmed an MoU with Dar Al Arkan Real Estate Development Company to promote a tourism project in the Yetti area. MoUs on business in the fisheries sector are final by Oman Fisheries Company and Naqua Fisheries. Insecurities, (MSX) signed an MoU with Tadawul Stock Exchange.

Oman Communications and Information Technology:

They final MoU with the National Information Technology Company. , contract final between Khazaen Economic City and Naqel Express of Saudi Arabia to fix a vehicle assembly unit in Khazaen City. 

Oman Integrated Logistics Company:

This company signed an MoU with Saudi Arabia’s Al Zajel company to strengthen cooperation in logistics and transport. Her Excellency Asila bint Salim al Samsami, said that the MoUs aim to strengthen economic ties and promote investment among the two brotherly countries.

Badr Al-Badr, CEO of the Saudi National Companies Promotion Programme:

The investment value of the memoranda of the agreement sign between Omani and Saudi companies is anticipate to surpass 10 billion US dollars.

Mulham Basheer Al Jarf, Acting Vice President of the Oman Investment Authority:

This memoranda of understanding appear in the light of the growth and transformation aims in the two brotherly countries. This signifies an event for both parties to invest in likely sectors and build diverse partnerships. Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news. 

 

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Business

According to the top analysts, Gulf Economy to rise in 2022.

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Gulf Economy to rise in 2022.

We will see the inflation ratio go down, and analysts believe Gulf Economy to rise in 2022. 

The progress of Gulf countries in 2022 is going to be faster than anyone can imagine. Yes Many polls worldwide suggest Crude oil prices rise and touch the price of 2014. Gulf Economy to rise in 2022 due to many reasons. The big boost comes from Oil prices. Six Wealth Oil exporting countries in the region will benefit from this rise. 

Gulf Cooperation Council

Gulf Cooperation Council

January Polls for Gulf Growth:

According to January polls, economists forecast six top economies in the Gulf will see a rise and growth. Prediction is made based on many reasons. Saudi Arabia will top the list with a gain of nearly 6%, followed by Kuwait and UAE with 5.4 percent and 4.8 percent, respectively.

Qatar, Oman, and Bahrain 2022:

Economic growth in Qatar, Oman, and Bahrain will see a change of around 4% in 2022. These nations will come in top places who are doing in 2022. 

The demand for Oil Prices in 2022:

Today every economist who responded to an additional question said a drop in oil prices and new coronavirus variants were the most significant threats to GCC economic growth this year. Still, due to Covid new wave, Oil prices may go down. So the risk is still not gone for the GCC region. The supply chain plays a vital role. If there is any disruption in the supply chain, we might see a significant fall from here. But that chances are low, and Upside growth is already seen in 2022. GDP in GCC is already increase compare to 2021. Global demand rise will give a boost to Gulf nations in 2022. 

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

 

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Poll predicts that the Gulf economies will grow faster in 2022

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Gulf Cooperation Council

In the UAE, Saudi Arabia, and Oman, inflation was expected to remain the lowest.

According to a Poll predicts Reuters poll of economists, the economies of the six-member Gulf Cooperation Council will grow at their fastest rates in several years, though the risk to that outlook is skewed to the downside.

Crude oil prices, a major driver for Gulf economies, rose to their highest level since 2014 on Wednesday. Owing to escalating global political tensions involving major producers, which could exacerbate already tight supplies.

That is good news Poll predicts for the region’s six wealthy oil-exporting countries. According to a January 11-19 poll of 25 economists. All six Gulf Cooperation Council economies will grow faster this year than was predict three months ago.

Saudi Arabia was predict to top the list with 5.7 percent growth, followed by Kuwait and the UAE with 5.3 percent and 4.8 percent growth, respectively.

Saudi Arabia

Saudi Arabia

Qatar, Oman, and Bahrain are expect to grow at 3-4 percent per year through 2022. It would be the best thing these countries have seen in several years if realized. “Despite relatively tight fiscal policy and some external headwinds, we expect the GCC economies to see faster growth in 2022 as they build on last year’s progress,” Khatija Haque said.

“While the outlook for 2022 remains broadly positive, there is still a high level of uncertainty, particularly regarding the evolution of the coronavirus pandemic.” As the global economy struggles to deal with the prospect of persistent inflation, the region’s price outlook was modest but varied.

Inflation is expect to remain between 2.0% and 2.80% this year, with the UAE, Saudi Arabia. And Oman having the lowest readings at 2.0% and Qatar having the highest at 2.80%. Saudi Arabia, the world’s largest crude oil exporter. And the region’s economic and political powerhouse, will experience 5.7% economic growth this year. It would be the fastest growth since 2012 when oil averaged around $111 per barrel.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

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Elon Musk’s reaction to Twitter’s new NFT feature

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Elon Musk

Elon Musk, a crypto enthusiast, sends a three-word tweet in response to Twitter’s new NFT feature.

Elon Musk’s reaction has stated that a new Twitter feature allows premium users to display their non-fungible token (NFT) acquisitions as their profile picture is irritating. Instead, the social media giant should focus its resources on removing crypto fraudsters from the platform.

Elon Musk’s reaction, a billionaire and long-time crypto enthusiast, expressed his displeasure with a new Twitter feature. That allows premium users to display their non-fungible token (NFT) remarked as their profile picture. Elon Musk commented on Twitter’s new feature for Twitter Blue users, saying, “this is annoying,” and attaching a screenshot of the announcement. Musk went on to say that the social media behemoth is not making good use of its resources.

In choice countries such as the US and Canada, Twitter launched a new feature last week that allows some users to display. Their NFT purchases a token representing blockchain purchases in the form of a hexagonal-shaped profile picture rather than the usual circle-shaped picture.

 

“Twitter is wasting engineering resources on this nonsense while crypto scammers throw a spambot block party in every thread!”

Musk wrote in a tweet last week, expanding on his point of view. Musk, a big supporter of cryptocurrencies in general, including the meme-based DogeCoin. Expressed his displeasure with the Web3 world, pointing out that resources should instead be spent avoiding crypto-related spam on social media.

Elon Musk response to Twitter

Elon Musk response to Twitter

To clarify, Tesla Inc and SpaceX CEO Elon Musk previously stated. That he would abide Bitcoin as payment for Tesla vehicles. Still, they later reversed his decision, citing environmental concerns about the crypto asset. However, later in December, he stated that Tesla would allow customers to purchase some merchandise using Dogecoin, another crypto asset.

“Elon is correct on this one. “Twitter’s product team needs to prioritize what’s important for user experience,” Adam Singer. A former Google VP of Marketing, said in a tweet supporting Musk. Others agreed with him, including Michael Saylor, CEO of another publicly-traded company in the United States, MicroStrategy. Who suggested that Twitter could solve the problem of scammers and spambots by allowing users to purchase a premium account.

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