Author: Steven Sahiounie

Today, Thursday, the Central Bank of Syria set the exchange rate of the Syrian pound against the US dollar for remittances and exchange at 7,800 pounds for one dollar. According to the remittance and exchange bulletin issued today by the Central Bank, the exchange rate of the Syrian pound against the euro was set at 8536.62 Syrian pounds for one euro. This bulletin is issued according to the Central Bank for the purpose of cash disbursement and the purchase of commercial foreign transfers and incoming transfers to natural persons, including incoming transfers through global transfer networks. On the 27th of…

Oil prices rose, in trading today, Thursday, despite data showing a decline in crude inventories in the United States. By 09:30 Moscow time, US West Texas Intermediate crude futures rose 0.56% to $72.97 a barrel. While Brent crude futures rose 0.54% to $76.82 a barrel, according to Bloomberg agency data. The US Energy Information Administration data released yesterday, Wednesday, showed a sudden rise in crude oil and gasoline inventories in the United States during the past week. The administration stated that the stock of crude oil decreased during the past week ending on May 5 by 2.951 million barrels, and…

Data from the US Energy Information Administration, released on Wednesday, showed a sudden rise in stocks of crude oil and gasoline in the United States during the past week. The data appeared as oil market participants bet on an increase in consumption before the start of the summer travel season in the United States, whether by road or flight. The administration stated that crude oil inventories declined during the past week ending on May 5 by 2.951 million barrels, after declining in the previous week by 1.280 million barrels, while analysts had expected a decline of 910 thousand barrels. As…

First Assistant Minister of Supply in Egypt, Ibrahim Ashmawi, revealed the details of the government decision to agree to exempt gold imports from abroad from fees and taxes. Ashmawy said, during televised statements on Wednesday evening: The citizen resorts to investing in gold as a value and adornment, adding that 60 tons of gold were stamped last year in the interest of the stamp. He pointed out that there is a great demand for buying bullion and then gold pounds, adding that the rate of increase in the prices of bullion and pounds amounted to 60 to 70% over last…

Saudi Arabia’s ACWA Power and UAE’s Alcazar have held talks to acquire wind power plants in Jabal al-Zeit and Zaafarana, Egypt. The efforts of the two Gulf companies are among 7 local and foreign companies interested in the deal, which also includes the Egyptian “Infinity”, as revealed by two informed persons. This comes less than 48 hours after the Egyptian Council of Ministers announced the formation of a committee to negotiate with investors who expressed interest in the two wind energy projects in Jabal Al-Zeit and Zaafarana. The Zaafarana wind power plant has a capacity of 545 megawatts, and the…

Well-informed sources said that the Egyptian government plans to sell an additional 10% stake in the state-affiliated Telecom Egypt during the current month. Bloomberg quoted the sources as saying that the company will start receiving purchase orders, especially from international investment institutions, during the current week, and the shares will be listed on the Egyptian Stock Exchange. Bloomberg Agency stated that the Egyptian government set a guide price for the offering at the level of 22.25 pounds, with a discount of 3.8% from the last closing of Telecom Egypt’s stock on the stock exchange, which amounted to 23.14 pounds per…

Economist Alexander Nazarov warned of the repercussions of a US default, noting that it would affect the global economy as a whole. The expert cited the words of US President Joe Biden, who indicated that if the United States falters, the entire world will face problems and the US economy will slide into recession. Nazarov commented on this, saying: “It seems that neither side (Democrats and Republicans) will give up, which promises us a hot summer.” He noted that the cost of insuring against default on US government debt exceeded the cost of Greek government debt. And yesterday, US President…

Israeli media reports that the Palestinian Resistance launched a new salvo of missiles toward the occupied Palestinian territories despite assurances from Egypt. The Palestinian Resistance has renewed its shelling of occupied Palestinian territories in light of the continued Israeli aggression on the Gaza Strip, an Al Mayadeen correspondent reported. The Emergency Alert System (EAS) was activated in occupied Beer Al-Sabe, with Israeli media reporting that Rockets were fired toward the “Gush Dan” area, mainly “Tel Aviv”. Israeli media said that following Netanyahu and Galant’s statements, a non-stop fire exchange erupted “on the Gaza border”. “The salvo of rockets launched earlier at Israel…

The Arab League Council urged today the International Criminal Court to complete the criminal investigation into war crimes and crimes against humanity committed and still being committed by Israel against the defenseless Palestinian people. These crimes include settlement and annexation, aggression against cities, villages and camps, the killing of civilians, journalists and paramedics, as well as forced displacement of Palestinians from their homes, the Council said in a statement after an emergency meeting at the level of permanent delegates in Cairo. The Council called for discussing and confronting the continuous Israeli aggression against the Palestinian people and providing them with…

Israeli forces today tore down three privately-owned homes belonging to Palestinians in the village of al-Dyouk to the west of the city of Jericho, according to a local official. Issam Samrat, a member of Fatah movement, said this step is part of the ongoing Israeli policy, which includes the issuance of demolition orders and the tearing down of homes. He further slammed this step as part of Israel’s policy of forcible expulsion that aims to empty the area of its indigenous Palestinian residents for the benefit of settlement expansion. Source: Wafa