Iraq considers that it has reservations regarding a clause in the final agreement of COP28 that limits its ability to act “to fulfill its commitments to the Iraqi people and national interests,” according to a government statement issued on Thursday.
The government praised the efforts of the Iraqi negotiators who, according to the statement, were able to maintain the role of fossil fuels as a tool for development and prevent the adoption of texts sought by some developed countries that are considered “detrimental to the interests of our peoples.”
Inflation in Saudi Arabia rises to 1.7% in November: GASTAT
Saudi Arabia witnessed a slight shift in the inflation rate in November, reaching 1.7%, a little higher than the 1.6% recorded in October, according to official data.
The latest report from the General Authority for Statistics revealed that the slight increase in inflation was due to rising prices of housing, water, electricity, gas, and other fuels, which increased by 1.3% in November compared to the previous month.
GASTAT explained in the report that “rental prices were the main contributor to the inflation rate in November 2023 due to their relatively high significance in the Saudi consumer basket, accounting for 21%.”
Saudi Finance Minister chosen to chair the International Monetary and Financial Committee
Saudi Finance Minister Mohammed Al-Jadaan has been chosen to chair the International Monetary and Financial Committee, the advisory body of the Board of Governors of the International Monetary Fund.
Committee members appointed him on Wednesday to serve for a three-year term starting January 4. He succeeds Nadia Calvino, the Spanish Deputy Prime Minister and Minister of Economic Affairs and Digital Transformation, who chaired the committee since January 3, 2022.
Al-Jadaan said, “Saudi Arabia’s selection to chair the International Monetary and Financial Committee reflects the confidence that the international community has in its regional and international position, and its pivotal role in promoting multilateral action.”
He added, “I look forward to working with committee members and the fund’s management to enhance the stability and effectiveness of the global financial and monetary system, and to strengthen global economic growth prospects.”
Saudi Arabia launches an online platform for the use of geographic information systems
The geographical infrastructure in Saudi Arabia is expected to receive a significant boost with the launch of an open data portal that will utilize geographic information systems to achieve sustainable development goals.
The portal was announced at the Geographic Information Data Conference, organized by the General Authority for Survey and Geographic Information in collaboration with the General Authority for Statistics in Riyadh on Tuesday, according to the Saudi Press Agency.
Source: https://www.arabnews.com/node/2425606/business-economy
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