Author: Steven Sahiounie

The banks said the aim of the agreement was to promote cooperation The Central Bank of the United Arab Emirates (CBUAE) and Central Bank of Egypt (CBE) entered into a more than $1 billion bilateral swap deal in local currencies on Thursday. The CBUAE and CBE said in a joint statement that the agreement allows for the exchange of UAE Dirhams and Egyptian pounds with a nominal amount of up to 5 billion dirhams ($1.36 billion) and 42 billion Egyptian pounds. Egypt has been suffering from a hard currency crunch with the Egyptian pound falling by about half against the…

In the first half of 2023, non-oil bilateral trade reached US$3.2 billion, a 3.7 percent increase on the same period in 2022 BANGKOK, 28th September, 2023 (WAM) — Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has concluded a high-level visit to Thailand, during which the two nations agreed to advance cooperation in a wide number of sectors, in particular trade, logistics, energy, travel and tourism. As part of the visit, His Excellency Dr Thani held a bilateral meeting with His Excellency HE Phumtham Wechayachai, Thailand’s Deputy Prime Minister and Minister of Commerce, in Bangkok.…

According to a report on regional economic prospects, recently published by the EBRD, Tunisia’s economic growth could reach 2.5% in 2024 Tunisia – Head of Operations of the European Bank for Reconstruction and Development (EBRD) in Tunis, Nodira Mansurova, expressed the bank’s commitment to bringing further technical and financial support to Tunisia so that it will be able to introduce its reforms. During a meeting, held, Thursday at the Kasbah with Prime Minister Ahmed Hachani, Mansurova underlined the cooperation developed with Tunisia, particularly in the areas of infrastructure, development and competitiveness of the Tunisian economy. Hachani welcomed the EBRD’s willingness to…

Both countries will be on watch lists for demotion from “secondary emerging” markets NEW YORK – Global index provider FTSE Russell said on Thursday it will add Pakistan and Egypt to watch lists for possible demotion in its equity index suites. Both countries will be on watch lists for demotion from “secondary emerging” markets, with Pakistan looking to become a “frontier market” while Egypt could be dropped to “unclassified.” Pakistan’s market capitalization will be assessed at the close on Dec. 29, FTSE said. Vietnam will remain on the list for a possible upgrade from “frontier market” to “secondary emerging,” the…

Prime Minister Denis Shmygal has claimed his country is uniquely deserving to join the bloc and won’t bring problems with it Ukraine deserves complete accession to the EU and will not accept any substitute proposed by incumbent member states who envision a tiered system of candidates. Prime Minister Denis Shmygal reiterated Kiev’s position in an interview published by Politico on Thursday. “We want to be a fully-fledged member because Ukraine today is the unique country across the world that has paid such a huge price for its will to become a European Union member,” the senior official told the outlet. Earlier…

Exports of goods recorded an increase of 0.9 per cent to reach nearly JD4.513 billion AMMAN — The Kingdom’s exports of goods and services in the first half of 2023 increased by 15.3 per cent, reaching a total value of JD7.8 billion. According to preliminary data related to Jordan’s balance of payments released by the Central Bank of Jordan , this surge was mainly driven by a 43.5 per cent increase in services exports reaching approximately JD3.289 billion, as well as a 59.4 per cent increase in travel services and 20.5 per cent in transport services. Exports of goods recorded…

Saudi Arabia’s non-oil export to Iraq in the five years from 2018 to last year 2022 was valued at $3.94bln RIYADH — The Saudi Export Development Authority (Saudi Exports) has organized a trade mission to Basra in Iraq under the theme ‘Made in Saudi Arabia’ to introduce local products to promising regional markets.The trade mission comes within the Authority’s role of expanding Saudi non-oil exports and as part of its strategy aimed at opening new markets and creating more export opportunities.It is hoped that the trade mission would enhance the position of national products and their competitiveness as one of…

The Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel has released its position paper, unequivocally stating that Israel has been violating the Palestinian people’s right to self-determination through its prolonged occupation, settlement activities, and annexation of Palestinian territory since 1967. Titled “Legal Consequences of Israel’s Policies and Practices in the Occupied Palestinian Territory, Including East Jerusalem,” the paper is a part of the UM General Assembly’s resolution calling on the International Court of Justice to issue an advisory opinion regarding Israel’s occupation of Palestinian land. The commission found that “the legal consequence of…

As Japan’s third-biggest oil provider, Kuwait supplied 6.0 percent of the countryآ’s total crude imports Kuwait’s crude oil exports to Japan fell 51.2 percent in August from a year earlier to 4.68 million barrels, or 151,000 barrels per day (bpd), for the first decline in nine months, government data showed Friday. As Japan’s third-biggest oil provider, Kuwait supplied 6.0 percent of the countryآ’s total crude imports, compared with 10.4 percent in the same month of last year, the Japanese Natural Resources and Energy Agency said in a preliminary report. Japan’s overall imports of crude oil in August shrank 16.2 percent…

At least four Palestinians were shot and injured today by Israeli forces’ rubber-coated steel bullets, as the latter suppressed the weekly anti-settlement demonstration in the village of Kafr Qaddoum, east of Qalqilia, said local sources. Israeli military forces attacked the demonstration with live fire, rubber rounds, and tear gas canisters, shooting and injuring at least four people, one of whom was taken to hospital for medical treatment, while the rest were treated at the field. Residents there also rallied to condemn the Israeli occupation’s ongoing crimes against the Palestinian people. Source: WAFA