Author: Steven Sahiounie

The Kuwait Fund for Arab Economic Development (KFAED) and Pakistan signed on Monday a KD 7.5 million (USD 24.4 million) loan agreement to fund the Mohmand Hydropower Dam project. According to a KFAED statement, the Loan agreement was signed by Malik Muhammed Farooq — Ambassador of the Islamic Republic of Pakistan to State of Kuwait — whereas Waleed Al-Bahar, Acting Director-General of Kuwait Fund for Arab Economic Development, signed the Loan Agreement on behalf of the Fund. “The Project aims to support the economic and social development in by enhancing national energy generation from the available hydro resources to meet…

Algeria wants to lure more visitors to the cultural and scenic treasures of Africa’s largest country, shedding its status as a tourism backwater and expanding a sector outshone by competitors in neighbouring Morocco and Tunisia.

Riyadh – Saudi Export-Import Bank (Saudi EXIM) has signed a non-binding agreement with Australia’s Macquarie Group for credit facilities worth $500 million.

UAE – The Dubai Chamber of Commerce highlighted that the GCC market remained the top global export and re-export destination for its member companies in the first quarter (Q1) of 2024.

Egypt is targeting $30 billion in foreign direct investment in the 2024/25 fiscal year starting July 1, a budget statement approved by parliament on Monday showed.

Imposing sanctions on the Russian nuclear industry would only “hurt” the European Union, the head of the International Atomic Energy Agency (IAEA), Rafael Grossi, has warned.   

Türkiye’s exports to Israel came to a standstill in May, after the country’s government suspended all trade with the Jewish state in response to the IOF operations in Gaza, Bloomberg reported on Monday.

Prime Minister Mohammad Mustafa and his Jordanian counterpart, Bisher Al-Khasawneh, today affirmed that the two-state solution is the only way for stability and peace. This came in a joint press conference between Prime Ministers Mustafa and Al-Khasawneh, in the Jordanian capital, Amman, on the sidelines of the meeting of the Joint Jordanian-Palestinian Higher Committee. The Prime Mustafa said that what is happening in the Gaza Strip and the West Bank does not only affect the economy and commercial activity, but also affects stability and security in the region, which requires engaging in a serious political process that leads to the…

The Rafah border crossing critical to aid deliveries into Gaza from Egypt cannot operate again unless Israel relinquishes control and hands it back to Palestinians on the Gaza side, Egyptian Foreign Minister Sameh Shoukry said on Monday. Last month, Israel seized Gaza’s entire border with Egypt including the crossing during its offensive against Hamas in the city of Rafah. The crossing also represents the only lifeline to the outside world for the 2.3 million population in the Israeli-besieged territory. “It is difficult for the Rafah crossing to continue operating without a Palestinian administration,” Shoukry told a press conference with his…

Saudi Crown Prince, Mohammed bin Salman, congratulated Sheikh Sabah Khaled Al-Hamad Al-Mubarak Al-Sabah on his appointment as Crown Prince of Kuwait. “On the occasion of your appointment as Crown Prince of the State of Kuwait, I am pleased to extend my sincere congratulations and best fraternal wishes for your success,” the Saudi crown prince said. “I look forward to further cooperation, building on the strong historical relations between our two brotherly countries and peoples. Wishing Your Highness good health and happiness, and the brotherly people of Kuwait continued progress and prosperity,” he added.  Source: arab News