INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Algeria pledges $100m aid to Palestine as Mahmud Abbas visits

Algeria's President Abdelmadjid Tebboune.
  • Algeria's President Abdelmadjid Tebboune said the funding was in line with his people's commitment to support the Palestinian cause
  • He said he would also put the Palestinian cause at the center of the Arab League summit, which Algeria is hosting in March next year

Algeria’s President Abdelmadjid Tebboune pledged $100 million in aid to the Palestinians, as Palestinian leader Mahmud Abbas visited Algiers on Monday, December 6.

Tebboune said at a joint press conference that the funding was “in keeping with Algeria’s revolutionary history and the entire Algerian people’s commitment to support the just Palestinian cause under all circumstances”.

Algeria is to host an Arab League summit in March 2022, the first since Morocco renewed ties with Israel amid a string of US-brokered normalization deals with the Jewish state.

Tebboune said on Monday that Algeria plans “to put the Palestinian cause at the center of this important event”.

Algerian television also reported that Tebboune plans to host Palestinian factions for talks.

The Palestinian leader’s tour of North Africa, where he also plans to visit Tunisia, comes two weeks after Israeli Defense Minister Benny Gantz signed an unprecedented defense deal with Morocco.

That deal stoked already high tensions with Algeria, which sees Israeli defense cooperation with the kingdom as a danger to its national security.

A top Algerian official said Gantz’s visited “targeted” his country.

Algiers broke off diplomatic ties with Rabat in August, citing “hostile” actions by Morocco, which the kingdom denies.