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☆ Egypt's current account moves into surplus in Oct-Dec
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

CAIRO, May 3 (Reuters) - Egypt's current account turned a surplus for the first time in years in the October-to-December quarter as imports dropped and exports rose, the central bank said in a statement on Wednesday. Egypt imposed import restrictions during most of 2022 and continues to suffer an acute shortage of foreign currency. The current account registered a surplus of $1.41 billion dollars compared to deficits of $3.19 billion in July to September and $3.8 billion in Oct-Dec 2021. Imports fell to $17.99 billion from $19.07 billion in July-September and $22.48 billion a year earlier, while exports rose to $11.54 billion from $9.97 billion in July-September. Reporting by Enas Alashray and Alaa Swilam; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Airstrikes, artillery fire heard in Khartoum as Sudan fighting enters third week
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: +3 min

KHARTOUM, April 29 (Reuters) - The sounds of air strikes, anti-aircraft weaponry and artillery could be heard in Khartoum early on Saturday and dark smoke rose over parts of the city, as fighting in Sudan entered a third week. Fighting between the army and a rival paramilitary force continued despite the announcement of a 72-hour ceasefire extension on Friday, when strikes by air, tanks and artillery rocked Khartoum and the adjacent cities of Bahri and Ombdurman. The fighting has also reawakened a two-decade-old conflict in the western Darfur region where scores have died this week. More than 75,000 people were internally displaced within Sudan just in the first week of the fighting, according to the United Nations. The U.S. said several hundred Americans had departed Sudan by land, sea or air.

☆ Sudan's paramilitary force shares video they claim shows 'surrendered' Egyptian troops
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] Smoke rises in Omdurman, near Halfaya Bridge, during clashes between the Paramilitary Rapid Support Forces and the army as seen from Khartoum North, Sudan April 15, 2023. REUTERS/Mohamed Nureldin AbdallahCAIRO, April 15 (Reuters) - Sudan's paramilitary Rapid Support Forces shared a video on Saturday that they said showed Egyptian troops who had "surrendered" to them in Merowe, northern Sudan. This occurred as clashes erupted between the RSF, Sudan's main paramilitary group, and the army on Saturday. There was no clear explanation for the presence of Egyptian troops in Merowe on Saturday, but Egyptian and Sudanese troops have periodically staged joint military exercises in the north of the country in the wake of diplomatic tensions with Ethiopia. Reuters could not immediately verify the footage and Egyptian authorities did not immediately make any public comment on the matter.

☆ Sudan's RSF says it's ready to cooperate over Egyptian troops
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mohamed Nureldin AbdallahCAIRO, April 15 (Reuters) - The head of Sudan's paramilitary Rapid Support Forces (RSF) said on Saturday that his forces were ready to cooperate with Egypt to ease the return of Egyptian troops who had handed themselves over to the group in the northern Sudanese town of Merowe. Two Egyptian security sources said Egyptian officials were able to make contact with the leader of the Egyptian unit to confirm they were safe. The video showed a number of men dressed in army fatigues crouched on the ground and speaking to members of the RSF, Sudan's main paramilitary group, in an Egyptian Arabic dialect. A mobilisation of RSF forces towards Merowe's military airport on Wednesday prompted an army statement a day later that described recent RSF moves as illegal, bringing long-bubbling disagreements to the surface. It strongly supports Sudan's army and has recently promoted negotiations with pro-army political parties, in parallel to a plan for a transition towards elections backed by Hemedti.

☆ Qatar and Bahrain say they will resume diplomatic ties
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

CAIRO, April 12 (Reuters) - Qatar and Bahrain will resume their diplomatic ties, both Bahrain news agency (BNA) and the Qatari foreign ministry said on Wednesday. The move comes over two years after an Arab boycott of Qatar was lifted. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt in January 2021 ended a 3-1/2-year embargo of Qatar but all but Bahrain restored travel and trade links in 2021. Regional heavyweight Saudi Arabia has led efforts to rebuild ties with Qatar and, along with Egypt, re-established diplomatic relations. Bahrain, a Sunni Muslim-ruled monarchy with a restive Shi'ite population, has deep unease over Qatar's relations with Iran.

☆ Iran appoints first UAE ambassador since 2016 as Gulf relations improve
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

CAIRO, April 4 (Reuters) - Iran said on Tuesday it had appointed an ambassador to the United Arab Emirates for the first time since 2016, amid a realignment of relations between Gulf states and Iran. The move comes after the UAE in August moved to upgrade ties and said it was returning its ambassador to Tehran. The UAE downgraded relations with Iran after Saudi Arabia severed ties with Iran in January 2016 after Iranian protesters stormed the Saudi embassy in Tehran following Riyadh's execution of a prominent Shi'ite cleric. The UAE, which has business and trade ties with Iran stretching back more than a century, started re-engaging with Tehran in 2019 after attacks in Gulf waters and on Saudi energy sites. Iran's newly appointed ambassador Reza Ameri had served as the director general of the Iranian expatriates office in the foreign ministry, Iranian state media said.

Sheikh Mohammed, who became president and Abu Dhabi ruler last year after running the U.S.-allied OPEC oil producer for years, named his brother Sheikh Mansour as UAE vice president, alongside Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum. This appeared to further centralise power in Abu Dhabi, which is the political capital by virtue of its immense oil wealth, of the UAE federation of seven emirates. Abu Dhabi has held the presidency since the founding of the UAE federation by Sheikh Mohammed's father in 1971. Sheikh Mohammed, known as MbZ, had been grooming his son in positions of authority in security - including intelligence - economy and governance, analysts say. Earlier this month, Sheikh Tahnoun was named chair of Abu Dhabi Investment Authority, among the world's largest sovereign wealth funds.

☆ Saudi companies to invest $51 billion under government-backed plan
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

RIYADH, March 2 (Reuters) - Saudi Arabia has launched 192 billion riyals ($51.2 billion) of investments led by local companies, including oil giant Aramco (2222.SE), SABIC (2010.SE) and Ma'aden (1211.SE), under a government-backed initiative, state news agency SPA reported. Other investments in the telecommunications and logistics will also receive Shareek support. Prince Mohammed had announced 12 trillion riyals of investments that the kingdom is planning by 2030, which include the Shareek programme, 3 trillion riyals from the Public Investment Fund (PIF) and 2 trillion in foreign investment. As part of the plans, officials have also pressed international companies to invest in Saudi Arabia and move their regional headquarters to Riyadh in order to benefit from government contracts. ($1 = 3.7524 riyals)Reporting by Alaa Swilam; Writing by Aziz El Yaakoubi; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi, UK ministers agree to study combat air cooperation -Saudi agency
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

March 1 (Reuters) - Saudi and British defence ministers have agreed to study future co-operation on combat air capabilities and potential industrial projects, the Saudi state news agency reported. Saudi Defence Minister Prince Khalid bin Salman and British Defence Secretary Ben Wallace met in Riyadh on Wednesday and signed a "declaration of intent regarding the participation of the Kingdom of Saudi Arabia in the Future Air Capabilities Program (FCAS)", it said. FCAS is an acronym widely used for next-generation fighter projects known as Future Combat Air Systems, including the British-led Tempest programme which was recently expanded to include Japan under a new framework called Global Air Combat Programme. It said identifying industrial participation projects and joint research and development projects were also included. The British Defence ministry said the statement of intent signed in Riyadh would initiate a "Partnering Feasibility Study to explore how we can best position our decades long combat air relationship for the future".

☆ Traffic in Suez Canal normal after ship breakdown dealt with- SCA
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view of the Gulf of Suez and the Suez Canal are pictured through the window of an airplane on a flight between Cairo and Doha, Egypt, November 27, 2021. REUTERS/Amr Abdallah DalshCAIRO, Jan 9 (Reuters) - Shipping traffic in the Suez Canal was proceeding normally on Monday after tugs towed a cargo vessel that broke down during its passage through the waterway, the Canal Authority said. The M/V Glory, which was sailing to China, suffered a technical fault when it was 38km into its passage southward through the canal, before being towed by four tugs to a repair area, the Suez Canal Authority (SCA) said in a statement. The Suez Canal is one of the world's busiest waterways and the shortest shipping route between Europe and Asia. In 2021, a huge container ship, the Ever Given, became stuck in high winds across a southern section of the canal, blocking traffic for six days before it could be dislodged.

☆ Efforts under way to refloat ship stuck in Suez Canal, authority says
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Jan 9 (Reuters) - Efforts are under way to refloat a cargo vessel carrying grain from Ukraine that has run aground in the Suez Canal, the chairman of the Suez Canal Authority told Al-Arabiya TV on Monday. The M/V Glory ran aground while joining the southbound convoy transiting through the canal and tug boats are trying to refloat the vessel, Osama Rabie told Al-Arabiya. The ship is a Marshall Islands-flagged bulk carrier, data from trackers VesselFinder and MarineTraffic showed. It departed Ukraine's Chornomorsk port on Dec. 25 bound for China with 65,970 metric tonnes of corn, according to the Istanbul-based Joint Coordination Centre (JCC) overseeing Ukraine grain exports. The Suez Canal is one of the world’s busiest waterways and the shortest shipping route between Europe and Asia.

☆ Saudi Arabia approves 2023 budget, surplus seen shrinking - Saudi media
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

RIYADH, Dec 7 (Reuters) - Saudi Arabia approved on Wednesday a 1.114 trillion-riyal ($296 billion) budget for 2023 expected to post a surplus of 16 billion riyals, Saudi media outlets reported. Saudi Arabia expects revenues of 1.13 trillion riyals next year, Saudi-owned Al Arabiya TV reported. Total revenues are forecast at 1.234 trillion riyals for 2022, while spending is 1.132 trillion riyals, meaning a surplus of 102 billion riyals, or 2.6% of GDP. GDP growth is forecast to slow to 3.1% in 2023 from 8.5% this year, an upwards revision of half a percentage point from a preliminary budget forecast. ($1 = 3.7600 riyals)Reporting by Aziz El Yaakoubi, Rachna Uppal, Nadine Awadalla, Alaa Swilam and Yousef Saba; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi Arabia will soon make $5 bln deposit with Turkey -Saudi finance minister
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

RIYADH, Dec 8 (Reuters) - Saudi Arabia will place a $5 billion deposit at Turkey's central bank "within days," the kingdom's finance minister, Mohammed al-Jadaan, said on Wednesday. The decision was taken between us and Turkey," he told reporters, saying discussions were on remaining details and the deposit could happen "within days." "There is great improvement in our relationship with Turkey and we aspire for investment opportunities in Turkey and other countries," he said. A Saudi finance ministry spokesman told Reuters on Nov. 22 that the two states were in "final discussion" on the deposit. The momentum of talks between the countries' central banks comes after Ankara and Riyadh's joint effort to mend ties that were ruptured after the murder of Saudi journalist Jamal Khashoggi in 2018 at the kingdom's Istanbul consulate.

RIYADH, Dec 7 (Reuters) - Saudi Arabia expects to post a second consecutive budget surplus in 2023, though down 84% from this year as an uncertain global economic outlook and lower crude prices look set to weigh on the top oil exporter's revenues. Spending is slightly lower than 1.132 trillion riyals this year. Revenues are expected at 1.13 trillion riyals, down from 1.234 trillion riyals in 2022 as oil prices are seen falling from this year's high levels. Public debt is seen falling 3.5% to 951 billion riyals next year, or 24.6% of GDP. Government reserves at the Saudi Central Bank are estimated to reach 399 billion riyals at the end of next year, the finance ministry said.

☆ Saudi Arabia extends $3 bln deposit term to cash-strapped Pakistan
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Dec 2 (Reuters) - Saudi Arabia on Friday extended the term of a $3 billion deposit it made to Pakistan's foreign reserves, state news agency SPA and Pakistan's central bank said. Saudi Arabia deposited the money in Pakistan's central bank late last year as a loan to shore up the cash-strapped country's reserves. The central bank reserves stood at $7.5 billion as of Nov 25 this year. "Saudi Fund for Development (SFD) extended the term for the deposit provided by the Kingdom of Saudi Arabia in the amount of 3 billion dollars to the State Bank of Pakistan," the bank said in a statement. Reporting by Alaa Swilam in Cairo and Asif Shahzad in Islamabad; Editing by Alex Richardson, William MacleanOur Standards: The Thomson Reuters Trust Principles.

☆ Egypt's Suez Canal Economic Zone signs $500 mln contract for container handling terminal
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Nov 15 (Reuters) - Egypt's Suez Canal Economic Zone has signed a $500 million contract with the Suez Canal Container Company (SCCT) to establish a second container handling terminal in East Port Said, the Suez Canal Economic Zone said in a statement on Tuesday. Reporting by Youssry Mohamed Writing by Alaa Swilam Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Beer to cost nearly $14 per half-litre inside Qatar's main World Cup fan zone - source
▼ + stars: | 2022-11-15 | by ( Andrew Mills | ) www.reuters.com time to read: +2 min

The beer maker will also serve beer within the ticketed perimeter surrounding each stadium, where the beer price is "to be confirmed," said the source, who declined to be named. "We recognise there is an issue with price," Qatar 2022 Chief Executive Nasser Al Khater said in 2019. At the FIFA Club World Cup held in Qatar that year a half-litre of beer cost around $6.50. Qatar's World Cup organisers, the Supreme Committee for Delivery & Legacy, would not confirm the price of beer served inside the fan zone when contacted on Tuesday. "Pouring times and number of pouring destinations remains the same across all eight World Cup stadiums," the spokesperson said in a statement.

☆ British-Egyptian hunger striker Alaa Abd el-Fattah in “good health”- public prosecution statement
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Nov 10 (Reuters) - A medical report showed that the British-Egyptian jailed activist Alaa Abd el-Fattah is in “good health”, Egypt’s public prosecution said in a statement on Thursday. Abd el-Fattah, who has been on hunger strike since April 2, had said he would stop drinking water on Sunday to coincide with the opening of the COP27 climate change talks that Egypt is hosting in the Red Sea resort of Sharm el-Sheikh. read moreHis family have said they are deeply worried about his condition and that prison officials had told them on Thursday that there had been a medical intervention to sustain him. Reporting by Alaa SwilamOur Standards: The Thomson Reuters Trust Principles.

☆ COP27: UAE and Egypt agree to build one of world's biggest wind farms
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +3 min

The Memorandum of Understanding was signed between the UAE's renewable energy firm Masdar alongside its joint venture with Egypt's main renewable energy developer Infinity and Hassan Allam Utilities, the statement on news agency WAM said. "With this agreement to develop our largest ever project, Masdar is proud to bolster our contribution to Egypt's renewable energy goals," Masdar's CEO Mohamed Jameel al-Ramahi said. When completed, the wind farm would be part of Egypt's Green Corridor initiative, a grid dedicated to renewable energy projects that is aimed at ensuring renewable energy makes up 42% of the country's energy mix by 2035. The wind project would save Egypt an estimated $5 billion in annual natural gas costs, the statement said. Egypt's total installed power capacity was around 59.5 GW in 2019/2020, the country's renewable energy authority said in an annual report.

☆ Saudi crown prince launches Ceer, first Saudi electric vehicle brand
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Nov 3 (Reuters) - Saudi Arabia's crown prince Mohammed bin Salman has launched Ceer, the first Saudi electric vehicle brand, expected to be available in 2025, the state news agency (SPA) reported on Thursday. Ceer will attract over $150 million of foreign direct investment and is projected to directly contribute $8 billion to the kingdom's GDP by 2034, SPA added. The company is a joint venture between Saudi Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), SPA said. Reporting by Alaa Swilam; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Kuwait says OPEC+ decision was unanimous, based on economic studies -state news agency
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Oct 18 (Reuters) - Kuwait said that the recent OPEC+ decision to cut oil output was taken collectively and based on economic studies of international oil markets, state news agency KUNA reported on Tuesday citing the foreign ministry. Register now for FREE unlimited access to Reuters.com RegisterReporting by Alaa Swilam; Writing by Lina NajemOur Standards: The Thomson Reuters Trust Principles.

☆ Kuwait crown prince says 'petty' political squabbling must end
▼ + stars: | 2022-10-18 | by ( Ahmed Hagagy | ) www.reuters.com time to read: +2 min

There has been enough waste of painstaking efforts, precious time and squandered money," Sheikh Meshal said in the address, visibly crying at the end. Kuwait, an OPEC oil producer, bans political parties but has given its legislature more influence than similar bodies in other Gulf monarchies. Opposition figures made big gains in legislative polls in September after Sheikh Meshal dissolved parliament in a bid to end the stalemate. Before that he appointed Sheikh Ahmad Nawaf al-Sabah as prime minister at a time opposition lawmakers stepped up pressure for a new premier and parliament speaker. Sheikh Meshal pledged on Tuesday that the government would not interfere in the selection of the parliament speaker or parliamentary committees.

☆ UAE says it fully stands with Saudi Arabia to support energy stability, security
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: 1 min

Oct 17 (Reuters) - The United Arab Emirates (UAE) on Monday said it fully stands with Saudi Arabia in its efforts to support energy stability and security, UAE state news agency (WAM) reported, citing a foreign ministry statement. UAE also added that it supports the Saudi foreign ministry's statement regarding the latest OPEC+ decision and rejects statements that push for politicising it, WAM said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nayera Abdallah and Alaa Swilam; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ Three rockets fell in Iraq's green zone -state news agency
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Sept 28 (Reuters) - Three Katyusha rockets landed in Baghdad's fortified Green Zone while a parliament session was being convened, Iraqi state news agency INA reported on Wednesday. Four security personnel were injured, INA added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Alaa Swilam and Enas Alashray; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi king names crown prince as prime minister
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Saudi Crown Prince Mohammed bin Salman meets with Greek Prime Minister Kyriakos Mitsotakis (not pictured) at the Maximos Mansion in Athens, Greece, July 26, 2022. REUTERS/Louiza VradiSept 27 (Reuters) - Saudi Arabia's King Salman bin Abdulaziznamed his son and heir Prince Mohammed bin Salman as the kingdom's prime minister and his second son Prince Khalid as defense minister, a royal decree said on Tuesday. The reshuffle kept another son, Prince Abdulaziz bin Salman, as energy minister, theroyal decree, carried by state news agency SPA, said. Foreign Minister Prince Faisal bin Farhan Al Saud, Finance Minister Mohammed al-Jadaan and Investment Minister Khalid al-Falih remained unchanged, the decree showed. Prince Khalid bin Salman, MbS's younger brother, previously served as deputy defense minister.

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