A new 3 billion USD loan has been agreed between the International Monetary Fund and Egypt, Reuters reports. The so-called “Extended Fund Facility (EFF)” will run over 46 months and is supposed to provide “durable exchange rate flexibility”, with Egypt promising to boost social protection with the funds. Wheat and oil price increases due to […]
Egypt obtains 3 billion USD loan from IMF Read More »
For the first time ever, the G20 summit, which is taking place in Bali, Indonesia, is also convening the world’s major religious leaders, in a bid to find faithbased solutions to global crises. It included an address by His Holiness Pope Francis. This gathering has been named Religion 20 (R20). At the occasion, a forum
G20 convenes leading religious leaders at Religion 20 (R20) in Indonesia Read More »
Iran has blamed Germany for a terror attack that took place in the Iranian city of Shiraz, reports Borzou Daragahi, international Correspondent at The Independent and a Senior Fellow at the Atlantic Council, as he notes the regime in Tehran is linking it with a big protest against the Iranian regime that took place in
Iran blames Germany for terrorist attack in Shiraz Read More »
Earlier this month, a deal was agreed to develop Gaza’s offshore natural gas field, Reuters reports. The deal signifies a boost for the economy of the Palestinians living in Gaza. The Gaza Marine field is around 20 miles removed from the Gaza coast. Israel’s blockage has restricted its development, even if until 2018, the project
“Agreement to develop Gaza’s offshore natural gas field” Read More »
On a visit to Algeria last week, EU Energy Commissioner Kadri Simson has hailed a “long-term strategic partnership” with the country. Euractiv notes that this is clearly linked with the EU “turning to Africa’s biggest gas exporter to fill a gap left by Russian supplies.” Simson further stated: “As the relationship with Russia, so far
EU explores greater energy imports from Algeria Read More »
Mekki Elmograbi, a Sudanese journalist, commentator on international affairs, and former consultant at the Sudanese Embassy in Washington, D.C., takes a closer look at how Ukraine is developing new ties in the Middle East, and in particular with Saudi Arabia. He notes: “This month, Ukrainian President Vladimir Zelensky (picture) took the unusual step of doing
A closer look at Saudi Mediation Efforts in Ukraine Read More »
Yesterday, the Tripoli government in Libya signed a number of preliminary economic agreements with Turkey. This includes potential energy exploration in maritime areas. The move was immediately rejected by the competing authorities in the East of Libya, where the parliament voiced its opposition. Turkey and Libya sign maritime hydrocarbons deal https://t.co/lxkGn0jWoW — Times of Malta
Turkey and Libya sign energy deal Read More »
By Pieter Cleppe The ongoing protests in Iran against the mandatory hijab have now become as widespread as the 2019 protests, which resulted in 1500 deaths after the regime cracked down hard. 🇮🇷 Locations of #IranProtests (Map 👇) – Day 9#IranProtests2022 are now as widespread as the 2019 protests https://t.co/vNWHdPUPMC — Prof. Michael Tanchum (@michaeltanchum)
Iran protests now as widespread as 2019 protests Read More »
By Pieter Cleppe In a suprising move, Egypt has decided to raise Suez Canal rates from 1 January 2023 on. There will be a 15% increase for most vessels and a 10% increase for dry bulk ships and cruise ships. The government of Egypt expects annual revenues to rise by $700 million, after this rate
Egypt increases rates to pass through the Suez Canal Read More »
By Pieter Cleppe US energy giant Chevron considers the East Mediterranean as a key growth opportunity for its LNG business, along with US LNG gas, S&P Global Commodity Insights reports. The company told S&P Global Commodity Insights: “Our global footprint has changed, and we’re trying to enable some of that supply to Europe where it
As the West turns away from Russia, the East Med emerges as a potential hub for LNG Read More »