Latest developments: Saudi Arabia posted a deficit of about $ 11...

UAE

Dubai is hosting the World Gold Conference 2020, which is the largest international event specialized in the gold sector organized in the Gulf region, according to the official Emirates News Agency (WAM) Tuesday.

The conference will start on November 23.

For more coverage of Zawya Arabi about the UAE: The UAE Central Bank’s gold balance is rising

Tunisia

The Central Bank of Tunisia said on Tuesday that the draft amendment to the general budget law for the year 2020 shows a deficit that far exceeds the repercussions of the health crisis resulting from the repercussions of the Coronavirus, reaching an unprecedented level estimated at 13.4% of the country’s gross domestic product, according to the official Tunis Africa news agency.

The central bank added that this deficit requires great efforts to finance it in a very short period of time and under very difficult economic conditions.

In order to face this situation, it is expected that the resort to internal financing – banks and local institutions – will be intensified, which will reach 14.3 billion Tunisian dinars (5.2 billion dollars) in the revised budget bill in exchange for 2.4 billion dinars (876 million dollars) according to the original budget law that It was placed before the start of the Coronavirus outbreak.

For more coverage of Zawiya Arabi on Tunisia: The Tunisian budget deficit jumps 88% last April

Algeria

On Tuesday, Algerian President Abdelmadjid Tebboune entered a specialized treatment unit at the Central Army Hospital in the capital, according to a statement issued by the Presidency of the Republic and published by the official Algerian News Agency.

The statement did not explain the reason for the Algerian president’s admission to the hospital, saying only that “his health condition is stable and does not cause any concern.”

And the Algerian president announced in a statement published by the official news agency last Saturday that he would continue working remotely until the end of the voluntary quarantine in which he entered for a period of 5 days after announcing the presence of Coronavirus infections among employees of the Presidency of the Republic and the government.

For more coverage of the Arabic column on Algeria: Energy developments in Algeria

United State

The election campaign of US President Donald Trump said that its official website has been attacked and that it is working with the relevant authorities to determine the source of the attack, according to Al-Arabiya today, Wednesday.

The campaign added, in an emailed statement, that “there was no disclosure of sensitive data because none of it is actually stored on the site.”

This breakthrough comes about a week before the US presidential elections, in which Donald Trump, the current president, who is the Republican Party candidate, and Joe Biden, the former Vice President and the Democratic Party candidate, are competing.

For more coverage of Arabi Corner on the United States: The most important candidates aspiring to win the Democratic nomination in the US presidential elections

Global foreign direct investment

A report issued by the United Nations Conference on Trade and Development, known as UNCTAD, said that global foreign direct investment fell 49% in the first half of this year compared to the same period last year, according to CNBC Arabia on Tuesday.

The report added that global foreign direct investment is heading towards a decline of up to 40% by the end of this year.

The report stated that foreign direct investment flows to European economies turned negative for the first time ever, dropping to – 7 billion dollars in the first half of this year compared to 202 billion dollars in the first half of last year, while flows to the United States decreased during the same period compared to the corresponding period. Itself by 61%, to reach $ 51 billion.

For more coverage of the Arabic angle on Arab and international investments: A quick look at the most prominent stations of foreign investment in Tunisia

Chinese investments in the Gulf: important, but not the most important

(Prepared by: Muhammad Al-Hayek. Muhammad previously worked in several institutions, including the Kuwaiti newspaper Al-Rai and the Lebanese satellite channel, Future News)

(Editing by Yasmine Saleh, for contact: [email protected])

Zawya Arabi covers economic news and analysis on the Middle East and the Arabian Gulf from Sunday to Thursday and uses simple Arabic.

© ZAWYA 2020