Author: Steven Sahiounie

The data also showed that foreign assets with the CBE amounted to EGP 1.06 trillion at the end of October Egypt’s net foreign assets (NFAs) hit a negative EGP 839.219 billion in October, compared to a negative EGP 828.733 billion at the end of September, data from the Central Bank of Egypt (CBE) revealed. The data also showed that foreign assets with the CBE amounted to EGP 1.06 trillion at the end of October, and the foreign assets with banks stood at EGP 426.232 billion. Meanwhile, foreign liabilities with the CBE and banks totaled EGP 2.322 billion. Source: Zawya

On the sidelines of COP28 currently hosted in Dubai, Fouad noted that these projects are set to be executed starting in 2025 Arab Finance: Egypt will seal project agreements to reduce carbon emissions in the industrial sector with investments of up to $270 million, Minister of Environment Yasmine Fouad said in an interview with Asharq Business. On the sidelines of COP28 currently hosted in Dubai, Fouad noted that these projects are set to be executed starting in 2025. The Egyptian government plans to complete the clean transport project, which is part of the national contributions to reduce the emissions of…

Rademaker said that the trend towards new energy has helped to create 13.7 million jobs in the renewable energy sector worldwide Peter Rademaker, International Labour Organisation (ILO) Deputy Regional Director for the Arab States, has confirmed that the Middle East and North Africa (MENA) region could create 10 million new jobs and accelerate GDP to 7.2% by 2050 via taking a serious approach to climate action. In a statement to the Emirates News Agency (WAM) on the sidelines of COP28, Rademaker said that the trend towards new energy has helped to create 13.7 million jobs in the renewable energy sector…

The total wealth of the billionaires has grown by 157 per cent to $99.4 billion in 2023 According to UBS Billionaire Ambitions Report 2023, 5 billionaires moved to the Emirates in 2023 while 2 joined the billionaire club as the wealth of the UHNWIs has grown immensely in the past couple of years, driven by strong growth in the key strategic sectors such as real estate, travel and tourism, retail and overall economy as well. The total wealth of the billionaires has grown by 157 per cent to $99.4 billion in 2023 as compared to $38.7 billion in the previous…

A ceremony in Dubai marked the launch of preliminary talks to establish a CEPA between the two countries Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Alfredo E. Pascual, Secretary of Trade and Industry of the Department of Trade and Industry for the Republic of the Philippines, finalised the scope of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries, ushering in a new era of trade and investment cooperation between the two nations. A ceremony in Dubai marked the launch of preliminary talks to establish a CEPA between the two countries,…

Bhutan has reportedly been betting on cryptocurrencies for its financial future Bhutan, a South Asian nation nested in the Himalayas, has secretly developed world’s largest state-owned cryptocurrency mines, Forbes has revealed. According to the magazine’s investigation released last week, the Bhutanese government has quietly spent millions of dollars to build its bitcoin-mining operation. Forbes used satellite imagery from Planet Labs, Satellite Vu, and Google Earth, as well as sources with knowledge of Bhutan’s crypto investments to uncover mining units and data center cooling systems hidden in forests and mountainous terrain across the country. Other images reportedly showed high-capacity power lines…

Washington previously vowed to halve Moscow’s energy revenues by 2030 Moscow should take the US threat to halve Russia’s energy revenues seriously, billionaire Oleg Deripaska said on Saturday. To make his point the businessman cited last year’s sabotage of the Nord Stream pipelines and a recent train derailment in Siberia. The Russian aluminum magnate urged the government to focus on transport networks and port infrastructure in the country’s Far East, and the development of the North-South Transport Corridor in the Caspian region. “Threats of blocking the Danish straits and the Bosporus have already been voiced,” Deripaska wrote on his Telegram channel.…

“Sirens sounded in southern Israel,” the IOF press service said TEL AVIV, December 3. /TASS/. Civil defense sirens went off in southern Israel early on Sunday to warn the population about a possible rocket attack, the Israel Occupation Forces (IOF) said. “Sirens sounded in southern Israel,” the IOF press service said in a brief post on Telegram. Source: Tass

The majority of them were intercepted by Israel’s Iron Dome air defense systems TEL AVIV, December 3. /TASS/. At least 11 missiles were fired from the Gaza Strip towards Israel on Saturday night, the Yedioth Ahronoth newspaper said. The majority of them were intercepted by Israel’s Iron Dome air defense systems. The Izz ad-Din al-Qassam Brigades, the military wing of the Hamas movement, said on Telegram on Saturday that its members had fired a salvo of rockets towards Tel Aviv “in response to the killing of civilians.” On the morning of December 1, the Israel Defense Forces accused Hamas of violating the…

The subterranean infrastructure was detected in the city before the ceasefire between the IOF and Hamas came in force, the Jerusalem Post newspaper wrote TEL AVIV, December 3. /TASS/. Servicemen of the 551st Brigade combat team of the Israel Occupation Forces (IOF) uncovered and destroyed tunnels of the radical Palestinian movement Hamas in the city of Jabaliya in the Gaza Strip, the Jerusalem Post newspaper wrote. According to the report, the subterranean infrastructure was detected in the city before the ceasefire between the IOF and Hamas came in force. One tunnel was located in the courtyard of a school compound. Another -…