Author: Steven Sahiounie

Minister of Trade and Industry Ahmed Samir announced Egyptian exports to Africa rose by around 13% year on year (YoY) in the first 10 months of 2023, hitting $6 billion, Minister of Trade and Industry Ahmed Samir announced. The key Egyptian products exported to the African continent from January to October included marble, cement, polyethylene, and phosphorus fertilizers. Source: Zawya

RIYADH: Thought leaders and stakeholders of the global aviation industry are set to converge on Riyadh for the second Saudi Airport Exhibition to discuss emerging trends and pressing issues facing the sector. The event, to be held on Dec. 19-20 at the Riyadh International Convention and Exhibition Center, will host two co-located conferences, with hopes to add depth and diversity to the discourse on the global aviation industry. With over 6,000 aviation professionals, 250 global exhibitors, 50 participating companies, 200 regional buyers, and 2,000 pre-scheduled meetings the co-hosted Global Aviation Issues Conference and Women in Aviation General Assembly will bring…

DUBAI: BlackRock has agreed to invest up to $400 million in Dubai-based decarbonization company Positive Zero through a diversified infrastructure fund, Positive Zero said in a statement on Monday according to Reuters. The investment will help Positive Zero, a decentralized decarbonization infrastructure business, with its goal of boosting energy transition projects in Gulf countries, it said. The firm was set up by climate investment-focused Creek Capital late last year to coincide with the UN COP27 climate summit in Egypt, by merging solar company SirajPower, energy efficiency services firm Taka Solutions and on-demand battery business HYPR Energy. Creek Capital was co-founded by…

RIYADH: Saudi Arabia’s financial technology sector is bracing for growth with its apex bank issuing rules for buy now, pay later companies, according to a statement. The Saudi Central Bank, also known as SAMA, on Dec. 17 issued guidelines aimed at regulating the licensing and setting minimum standards for the BNPL companies. SAMA said that developing these rules will aid the sector’s growth and sustainability while safeguarding users’ rights. It defines BNPL activity as financing allowing a consumer to purchase goods or services without a term cost payable by the consumer. SAMA outlined provisions related to licensing requirements, regulation of…

RIYADH: Saudi Arabia’s economic diversification efforts are set to continue to bear fruit as the Kingdom’s non-oil economy is projected to expand between 3 percent and 4 percent each year until 2030, according to an expert at Moody’s Analytics. In a recent webinar, Catarina Noro, an economist at Moody’s Analytics, said that Saudi Arabia’s economy has shifted in the past decade, with the non-oil sector contributing to a growing share of the Kingdom’s gross domestic product growth. “We project the non-oil economy will expand between 3 percent and 4 percent annually until 2030, making up about 56 percent of Saudi’s GDP,”…

The number of Gaza residents killed in Israeli strikes since tensions escalated on October 7 has passed 19400, the Palestinian enclave’s Health Ministry said in a statement on Telegram. “The number of victims of Israel’s aggression has reached 19,453 since October 7. Another 52,286 have suffered wounds,” the statement reads. According to the ministry, at least 310 medical workers have been killed in Israel’s attacks on health facilities in the Strip. Over 90 medical workers, including hospital heads in northern Gaza, have been detained. The Health Ministry added that Gaza’s medical institutions had recorded at least 350,000 cases of infectious…

The West does not condemn Israel’s violent methods in handling the situation in the Gaza Strip, but it reproached Russia after the terrorist attacks in Beslan in 2004 and the 2002 Moscow theater hostage crisis, Russian Foreign Minister Sergey Lavrov said in an interview with the program Great Game on Channel One. “When hostages were taken in school in Beslan and when hostages were taken inside a theater on Dubrovka street during the Nord-Ost musical, and when our special services by virtue of special operations were preparing measures to free the hostages, I remember how loudly all Western media, citing…

Specialists of the Russian Health Ministry have completed their work in Egypt related to the evacuation of Russians from the Gaza Strip, and have left for Moscow, Assistant Health Minister Alexey Kuznetsov told reporters. “A brigade of specialists from the Russian Health Ministry has safely finished work in Egypt and flown to Moscow, accompanying on board a group of 73 [people], including 45 children, who left the Gaza Strip. All tasks have been accomplished,” he said. Kuznetsov added that since November 3, specialists from the All-Russian Centre for Disaster Medicine of the Russian Health Ministry and other subordinate organizations had…

A Russian Emergency Situations Ministry plane has brought to Moscow the last group of Russians that were evacuated from the Gaza Strip, according to a TASS reporter. The IL-76 airplane landed at Moscow’s Domodedovo airport carrying 73 evacuees, including 45 children. They were accompanied during the flight by ministry’s medical and psychological assistance staff. Their arrival means Russia has completed the operation to evacuate its citizens from the Gaza Strip. Source: Tass

The representative of the World Health Organization (WHO) in the Gaza Strip, Richard Pieperkorn, will act as temporary UN humanitarian coordinator in the Palestinian territories, as the Israeli authorities refused to extend the visa of Lynn Hastings, who previously held the post, the official representative of the UN Secretary General Stephane Dujarric said. “I also want to flag to you that Rick Pieperkorn, the World Health Organization’s representative in the occupied Palestinian territory, will act as the resident and humanitarian coordinator for the UN ad interim. This follows Lynn Hastings departure on Saturday, and that was because of the non-renewal…