Dear followers everywhere, welcome to a new global tour of the financial, business, companies, and energy markets around the world, and everything new for today, Sunday, December 1.. coming to you from Banker.
Starting from the United States of America, where US President Joe Biden heads to Angola, today, Sunday, on a trip aimed at fulfilling his promise to visit the African continent during his presidency, during which his focus is on a large railway project supported by the United States that aims to divert the destination of important minerals away. About China.
The project, partly financed by a US loan, links the resource-rich Democratic Republic of Congo and Zambia to the Angolan port of Lobito on the Atlantic Ocean, providing a fast and efficient route for exports to the West.
The next news in our global tour is from the World Bank, which expects strong economic growth for the Gulf countries thanks to diversification and reforms
The Gulf Cooperation Council countries witnessed economic growth this year estimated at 1.6%, according to the World Bank’s report on the latest economic developments in the Gulf region.
It is expected to rise to 4.2% in 2025 and 2026.
In Saudi Arabia, the World Bank expects real GDP growth of 1.1% in 2024, with strong growth in non-oil activities of 4.6%.
Governor of Russia and President Putin’s approval of a budget focusing on military spending..
A document published by the official website of Decrees and Laws in Russia, on Sunday, showed that President Vladimir Putin approved a budget focusing on military spending for a period from 2025 to 2027.
The state budget for next year includes a 25 percent increase in military spending… This budget will be the most secret in the history of post-Soviet Russia, as Russian citizens will not be able to scrutinize nearly a third of its total spending.
The next news in our global tour from the Arabian Gulf, as the UAE seeks to reach one trillion dollars in the value of foreign trade within Vision 2031.
The UAE vision also aims to reach $218 billion in the value of non-oil exports, and double the size of the domestic product to $800 billion.
Among the energy news from our global tour, Russia decided to lift the ban on gasoline exports.
The Russian government said on Saturday that it had lifted a temporary ban on gasoline exports from producers, but extended restrictions until January 31, 2025 on other fuel exporters, such as independent sellers or resellers.
The initial ban on gasoline exports was scheduled to expire at the end of this year.
This ban does not include gasoline exports to the Eurasian Economic Union led by Moscow, which includes a number of countries of the former Soviet Union, nor countries with which Russia has government agreements for fuel supplies, such as Mongolia.
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