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Bahrain's Economic Development Board (EDB) attracted $1.4 billion in direct local and international investment, through 64 projects this year, it was revealed at a board meeting chaired by the Deputy King, HRH Prince Salman bin Hamad Al Khalifa.
The IMF estimates the Gulf country could further grow this year. As in 2022, the development would be driven by the non-oil sectors.
Foreign and joint investments in the industrial sector have totaled more than 542 billion Saudi Riyals, constituting 37 percent of the sector’s total investments, the Ministry of Industry and Mineral Resources said. The foreign and joint investments in the industrial sector also represent 17 percent of the total number of existing factories until May 2023, the ministry added Thursday.
Saudi Arabian mining company Ma'aden has announced that it has exported its first shipments of low-carbon blue ammonia to China, according to a statement. Ma’aden signed an agreement to supply 25,000 tons of blue ammonia to China's Shenghong Petrochemicals and the first shipment left on Thursday from Saudi's Ras Al Khair port, the statement said. Ma’aden is the world’s largest exporter of blue ammonia, having received certification to produce it in 2022.
Türkiye’s lira weakened to a record low of 19.8050 against the dollar on Thursday, days after President Tayyip Erdogan surprised markets by leading in Türkiye’s presidential elections. The lira has weakened more than 1% since the elections on May 14. It declined some 0.2% on Thursday to stand at 19.8050 at 1832 GMT. The currency shed 44% in 2021 and 30% in 2022 mostly due to Erdogan's unorthodox economic policies, Reuters said.