According to the SPA news agency, the Public Investment Fund (PIF) of Saudi Arabia has launched five regional businesses with assets totaling 90 billion riyals ($24 billion) to fund projects in Jordan, Bahrain, Sudan, Iraq, and Oman. The companies will make strategic investments in a number of industries, including manufacturing, communications, real estate, infrastructure, mining, financial...

According to Jim Chalmers, head of the Treasury Department, Australia's inflation may reach its peak by the end of the year as a result of recent natural disasters and growing energy costs. He told ABC television that "the Treasury Department's current estimate is that inflation will linger longer than we projected." According to the Australian finance minister, inflation will reach a yearly...

According to Central Bank Governor Hassan Abdullah, Egypt's central bank is creating an index of the Egyptian pound in an effort to end the peg of the national currency to the dollar. The head of the Central Bank, who assumed his position in August, stated that while the bank has an independent policy, it recognizes the necessity for coordination with both the public and private sectors. He...

According to Charles Michel, president of the European Council, EU leaders have reached a compromise to address the energy problem. "A decision on energy has been made by the European Council. Solidarity and unity won. We decided to focus on ways to keep energy costs for homes and businesses under control," tweeted Michel. Ursula von der Leyen, the head of the European Commission, stated that...

According to a World Health Organization (WHO) research on the physical activity status, between 2020 and 2030, there may be more than 500 million cases of preventable noncommunicable diseases (NCDs) due to sedentary lifestyles. According to the organization, the cost of treating the diseases will be more than $300 billion. "Hypertension (47%) and depression (43) will each contribute 43% of the...

China's State Statistics Office reports that the consumer price index (CPI) increased 2.8% year over year in September. Since April 2020, the index has risen at its quickest rate yet, with a spike in food costs accounting for the majority of the increase. The annual CPI growth rate in August was 2.5 %. The biggest increase since August 2020 was in pork, up 36%. In addition, the cost of fresh...

The World Wildlife Fund and the Zoological Society of London conducted research that revealed the number of animals on the earth has decreased by 69% between 1970 and 2018 as a result of deforestation and pollution. According to a joint analysis titled Living Earth by the World Wildlife Fund (WWF) and the Zoological Society of London, there were 69% fewer wild creatures on the planet between 1970...

The UN coordinator acknowledged that there is no absolute assurance that the "grain agreement" will be maintained. The group is hopeful that the disputing parties will come to an agreement. On July 22, Russia and Ukraine inked an agreement with the UN and Turkey to remove export restrictions on Russian goods and to make it easier for Ukrainian grain to be exported. A joint coordination center...

According to Pierre-Olivier Gourinchas, the chief economist of the International Monetary Fund (IMF), the three major concerns facing the globe now are the military conflict in Ukraine, growing living expenses, and China's weakening economy. At a press conference to introduce the IMF report, Gourinchas stated that "the global economy continues to face significant challenges from three powerful...