Climate change parches Morocco breadbasket amid policy pitfalls
Berrechid, Morocco -- Around this time every year, Moroccan wheat farmer Abderrahim Mohafid is usually preparing for his spring harvest, but...Economy Geostrategy Climate Change
Jordan, Tunisia to enhance trade, investment relations
AMMAN, JORDAN - The Chairman of the Amman Chamber of Commerce Khalil Haj Tawfiq has called on Jordanian and Tunisian...Business Economy Geostrategy
World Bank warns of risk of global recession in 2023
A major factor in bringing the world to this pass is the simultaneously hike in interest rates by central banks...A major factor in bringing the world to this pass is the simultaneous hike in interest rates by central banks across the world to tame the inflation, the World Bank said
The study relies on insights from previous global recessions to analyze the recent evolution of economic activity and presents scenarios for 2022–24
Egypt remittances drop 14.7% to US$2.38 billion in July
The drop comes as the exchange rate of the Egyptian pound is seeing a decline in light of the pressures...Remittances from Egyptians working abroad are one of the most important sources of foreign exchange for the country, along with tourism, the Suez Canal, and exports
Expatriate remittances have increased since Egypt liberalized its currency exchange rate in November 2016 as part of economic reforms
UAE FM meets Israeli Finance Minister, discusses economic cooperation
Sheikh Abdullah said that the UAE and Israel, since the signing of the Abraham Accords Peace Agreement, have established a...Sheikh Abdullah said that the UAE and Israel, since the signing of the Abraham Accords Peace Agreement, have established a model for constructive cooperation
Lieberman welcomed the visit of Sheikh Abdullah and his accompanying delegation, stressing the importance of this visit in strengthening bilateral relations
South Korea to enhance ties with hi-tech firms in Middle East
South Korea wants to strengthen its relations with the Middle East with a focus on high-tech industries, according to Seoul’s...The focused hi-tech industries in the Middle East are energy, hydrogen, artificial intelligence and health.
The South Korean Foreign Minister said that they are trying to upgrade their ties with all the countries.
GCC-India ink MoU for consultations mechanism
India has signed a Memorandum of Understanding (MoU) with the Gulf Cooperation Council (GCC) Secretariat on the "mechanism of consultations"...The MoU was signed between India’s Minister for External Affairs Dr. S Jaishankar, and the GCC Secretary-General Dr. Nayef Falah Mubarak Al-Hajraf.
India’s Ministry of External Affairs said, "both sides reviewed bilateral relations and discussed ways to enhance them"
Dubai records weeklong realty transactions worth $2.49 billion
Dubai, UAE---A total of 2,317 real estate transactions worth AED8.9 billion ($2.49 billion) were conducted during the week ending 16...A total of 227 plots were sold for AED4.35 billion, and 1,560 apartments and villas were purchased for AED3.44 billion.
The top three transactions were plots of land in Madinat Al Mataar that sold for AED988 million, AED259.24 million in Al Yufrah 1 and AED988 million in Madinat.
Stocks mostly slide; pound hits 37-year dollar low
Stock markets mostly slumped Friday, while the British pound tanked to a 37-year dollar low as weak UK retail sales...Sales by volume dived 1.6 percent in UK last month, more than triple expectations.
Sterling has hit a series of 1985 lows in recent weeks, also as the US Federal Reserve implements aggressive hikes interest rate hikes.
UAE participates in G20 Finance Track’s Infrastructure meeting
UAE Ministry of Finance (MoF) participated in G20 Finance Track’s fourth and last Infrastructure Working Group (IWG) meeting for 2022...The members of the Infrastructure Working Group deliberated the progress made on scaling up sustainable infrastructure investments.
The IWG also discussed means of promoting private sector investment in sustainable infrastructure.
Germany seizes Rosneft’s subsidiaries
Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted...The seizures come as Germany is scrambling to wean itself off its dependence on Russian fossil fuels.
Move covers the companies Rosneft Deutschland GmbH and RN Refining & Marketing GmbH and their corresponding stakes in three refineries: PCK Schwedt, MiRo and Bayernoil.
Third ‘armed bank withdrawal’ in a week in Lebanon
When a branch of the Byblos bank opened in the southern town of Ghaziyeh, a depositor, reported to be in...A man in 50 stormed a branch of Byblos bank in the southern town of Ghaziyeh and threatened bank employs with a gun and demanded his savings
The man walked away with around $19,000 and turned himself in to the police moments later as a crowd formed in front of the bank to support him
