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The Gaza war on the border with Egypt's Sinai Peninsula comes after the impact of Russia's invasion of Ukraine and the coronavirus pandemic exposed long-standing frailties in the Egyptian economy. "Foreign sentiment on Egypt is so weak, and now with this coming along it's last thing that Egypt needed. A foreign currency shortage has led to a $5 billion backlog of imports stuck at ports, and problems for foreign companies repatriating dividends, bankers say. So far, the Gaza war has affected the popular Sinai destinations of Taba, Nuweiba, Dahab and Sharm el-Sheikh but left the rest of the country relatively unscathed. Egypt's tourism minister told Reuters this week that the impact of the war was contained to under 10% of bookings.

Persons: Mohamed Abd El Ghany, Monica Malik, Moataz, Sharm, Karim ElMinabawy, Siamak Adibi, Egypt's, Olumide Ajayi, Malik, Patrick Werr, Sarah El Safty, Aidan Lewis, Toby Chopra Organizations: REUTERS, Abu, Tourism, Countrywide, Emeco, Middle East Gas, FGE, United Arab, Thomson Locations: Giza, Cairo, Egypt, CAIRO, Gaza, Ukraine, Dhabi, Taba, Dahab, Luxor, Aswan, Israel, Europe, Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Gulf . Saudi

☆ Saudi crown prince arrives in Seoul - state news agency
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

[1/6] Crown Prince of Saudi Arabia, Mohammed bin Salman is received by South Korean Prime Minister, Han Duck-soo upon his arrival in Seoul, South Korea, November 16, 2022. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERSCAIRO, Nov 16 (Reuters) - Saudi Crown Prince Mohammed bin Salman arrived in South Korea, state news agency (SPA) reported on Wednesday. He was received by the South Korean prime minister in the capital Seoul, it added. Reporting by Moataz Mohammed and Yasmin Hussein; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Egyptian-British hunger striker's family say they received 'proof of life' letter
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

CAIRO, Nov 14 (Reuters) - The sister of Egyptian-British activist Alaa Abd el-Fattah said on Monday the family had received a letter from prison that served as "proof of life" from the hunger striker. Since then his family and his lawyer had made repeated trips to the prison where he is detained northwest of Cairo, but had received no news on his condition. Since he obtained British citizenship in December, British officials have sought unsuccessfully to secure consular access to Abd el-Fattah. Abd el-Fattah's lawyer Khaled Ali said he was at the prison along with his mother Laila Soueif, and was waiting for prison authorities to allow him to visit. Egypt's public prosecutor said on Thursday Abd el-Fattah was in good health, after the family said they were informed that medical intervention had been carried out to maintain his health.

☆ Saudi's Red Sea Development to open three resorts in 2023, 13 in 2024 - Al Arabiya
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Oct 25 (Reuters) - Saudi Arabia's flagship tourism project developer, The Red Sea Development Company (TRSDC), will open three resorts in 2023 and 13 more in 2024, the company's president told Al Arabiya on Tuesday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Writing by Lina Najem; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Qatar voices concern over disruption to global energy supplies
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

Oct 25 (Reuters) - Qatar's energy minister on Tuesday said that recent disruptions to global energy supplies have caused great concern over energy security and accessibility. Saad al-Kaabi, who is also head of QatarEnergy, added that energy crisis drove natural gas to forefront of global energy discussion. Reporting by Moataz Mohamed Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Qatar faced unprecedented criticism over hosting World Cup, emir says
▼ + stars: | 2022-10-25 | by ( Andrew Mills | ) www.reuters.com time to read: +2 min

DOHA, Oct 25 (Reuters) - Qatar has faced unprecedented criticism since winning the bid to host the 2022 World Cup, some of which amounted to slander, its ruler, Emir Sheikh Tamim bin Hamad al-Thani, said on Tuesday. Register now for FREE unlimited access to Reuters.com RegisterQatar, the first Middle Eastern country to host the World Cup, has come under intense international criticism for its treatment of foreign workers and restrictive social laws. Qatar expects 1.2 million visitors during the tournament, creating an unprecedented logistical and policing challenge for the tiny Gulf Arab state. Sheikh Tamim said hosting the World Cup was "a great test for a country the size of Qatar". The World Cup would allow Qatar to showcase its economic and institutional strength and cultural identity, he said.

☆ Saudi Arabia launches bid to attract $10 billion in supply chain investment
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +1 min

RIYADH, Oct 23 (Reuters) - Saudi Arabia's crown prince on Sunday launched an initiative to attract investments in supply chains to and from the kingdom, with an aim of raising an initial 40 billion riyals ($10.64 billion). The initiative by Prince Mohammed bin Salman will include allocating about 10 billion riyals in incentives for supply chain investors, state news agency SPA reported, without elaborating. Register now for FREE unlimited access to Reuters.com RegisterThe latest supply chain initiative includes establishing a number of special economic zones, said a statement on SPA that also referred to ongoing "legislative and procedural" reforms. Prince Mohammed's Vision 2030 plan aims to modernise Saudi Arabia and wean its economy off oil revenues. ($1 = 3.7580 riyals)Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed in Cairo; Editing by William Maclean and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Lebanon says Israeli gunboat violated its waters, Israel denies it
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

Oct 18 (Reuters) - The Lebanese army said on Tuesday that an Israeli gunboat had violated Lebanese territorial waters on Monday morning, an allegation denied by Israel in the second such dispute this week as the countries work toward a maritime border demarcation. The alleged naval incursion took place in an area of the Mediterranean sea opposite Ras Naqura, the Lebanese army said. In response, an Israeli military spokesperson said "there was no crossing" into Lebanese terrorial waters on Monday. The countries are technically at war but this month clinched a U.S.-brokered agreement to demarcate a maritime border. On Sunday, the Lebanese army said Israeli gunboats had violated Lebanese territorial waters several times on Saturday opposite Ras Naqura.

CAIRO Oct 16 (Reuters) - OPEC+ member states lined up on Sunday to endorse a steep production cut agreed this month after the White House, stepping up a war of words with Riyadh, claimed Saudi Arabia had pushed some other nations into the move. Iraq, OPEC's second largest exporter, said the decision was based on economic indicators and was taken unanimously. The cut came despite oil markets being tight, with inventories in major economies at lower levels than when OPEC has cut output in the past. But some analysts have said recent volatility in crude markets could be remedied by a cut that would help attract investors to a market that was underperforming fundamentals. Oman's energy ministry said OPEC+ decisions were based purely on the realities of market supply and demand.

☆ Oman says OPEC+ decisions based on purely economic considerations
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

CAIRO Oct 16 (Reuters) - Oman's energy ministry said on Sunday that OPEC+ decisions are based on purely economic considerations, realities of supply and demand in the market. The ministry added that the decision was necessary to reassure the market and stabilise it. The 13-member Organization of the Petroleum Exporting Countries and its allies, which include Russia, lowered its production target by 2 million barrels per day when they met on Oct. 5. The move came despite fuel markets remaining tight, with inventories in major economies at lower levels than when OPEC has cut output in the past. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Egypt nears staff-level agreement with IMF on terms of its programme
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +2 min

The International Monetary Fund (IMF) headquarters building is seen in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas/File PhotoOct 16 (Reuters) - Egypt has finalised a staff-level agreement with the international monetary fund (IMF) on the components of its programme, and will issue an announcement "very soon," the country's finance minister said on Sunday. In its own parallel statement on Saturday, the IMF said it had agreed with Egyptian authorities to finalise work to reach a staff-level agreement "very soon." The policies discussed, according to the IMF statement, included monetary and exchange rate policies that "would enable Egypt to gradually and sustainably rebuild foreign reserves," public debt reduction, social safety net expansion, and increasing competitiveness in the economy. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; writing by Nafisa Eltahir; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

The agreement is also seen as critical to unlock bilateral aid from country donors that wanted the reassurance of an IMF programme that Tunisia would carry out reforms to put its finances on a more sustainable footing. "The agreement is an important step for Tunisia's public finances and will allow Tunisia to borrow from some bilateral sources," a senior Tunisian official said on condition of anonymity. It is subject to the approval of the IMF board, which is scheduled to discuss Tunisia's programme request in December, the fund said. The IMF warned that in the near term growth would likely slow with more pressure on inflation and on the external and fiscal balances. The government negotiated for months with the IMF and had to also to sign an agreement with the UGTT to limit public sector wage increases over the next three years.

☆ OAPEC Sec Gen says OPEC+ decision to cut oil production 'correct'
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

Companies Organization of Arab Petroleum Exporting Countries FollowCAIRO Oct 15 (Reuters) - The secretary general of the Organization of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the OPEC+ decision to cut its oil production target is correct, and was taken at the right time. OAPEC comprises Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria, Tunisia and the United Arab Emirates. The 13-member Organization of the Petroleum Exporting Countries (OPEC) and its allies, which include Russia, lowered their production target by 2 million barrels per day when they met on Oct. 5. The move came even though fuel markets remain tight, with inventories in major economies at lower levels than when OPEC has cut output in the past. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

☆ Influential cleric Qaradawi, supporter of Arab Spring uprisings, dies
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Qatar's influential Egyptian-born cleric Sheikh Yussef Al-Qaradawi attends the opening session of a conference of Muslim scholars in support of Palestinian people in Doha May 10, 2006. REUTERS/Fadi Alassaad/File PhotoDUBAI, Sept 26 (Reuters) - Senior Muslim cleric Sheikh Youssef al-Qaradawi, a spiritual leader for the Muslim Brotherhood and defender of Arab Spring revolts, died on Monday at age 96, according to a post on his official Twitter account. He was highly critical of Egypt's President Abdel Fattah al-Sisi as well as the Saudi leadership, fuelling a rift with Doha. In a tribute, Tunisian Islamist leader Rached Ghannouchi described Qaradawi as "committed to the principle of moderation within this great religion." However, some social media users appearing to post from Egypt and Saudi Arabia among other countries celebrated his death and accused him of sowing discord between Arab nations.

☆ Egypt's 2021/22 natural gas and LNG export revenue hits $8 bln - cabinet
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Amr Abdallah DalshSept 25 (Reuters) - Egypt's natural gas and liquefied natural gas (LNG) export revenue reached $8 billion in its 2021/22 fiscal year after volumes increased by 7.2 million tonnes, the Egyptian cabinet said on its Facebook page on Sunday. Egypt earns about $500 million monthly from natural gas exports and aims to raise that figure to $1 billion "in the coming period", Finance Minister Mohamed Maait said in a statement last week. Egypt has been pushing to maximise its exports of natural gas to generate foreign currency revenue after coming under financial pressure due to the impact of the war in Ukraine. The government says gas exports have been boosted after the it introduced an electricity rationing plan in August. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by David Clarke and David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi Arabia launches five renewable energy projects
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterSept 25 (Reuters) - Saudi Arabia has launched five new projects to produce electricity using renewable energy, with a total capacity of 3,300 megawatts, the state news agency (SPA) reported on Sunday. The projects, which include producing power through solar and wind, were launched by the Saudi Power Procurement Company (SPPC), which is the principal buyer. No financial details were disclosed. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

☆ UAE signs energy agreement with Germany's Scholz
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +1 min

German Chancellor Olaf Scholz gestures during his joint news conference with Georgian Prime Minister Irakli Garibashvili following their meeting in Berlin, Germany, September 14, 2022. REUTERS/Christian MangSept 25 (Reuters) - The president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, has signed an agreement with German Chancellor Olaf Scholz that covers accelerating energy security and industrial growth, the state news agency (WAM) reported on Sunday. Abu Dhabi National Oil Company (ADNOC) signed an agreement to supply liquefied natural gas (LNG) to German utility RWE , the report said. ADNOC will deliver the first shipment in late 2022 for use in the trial operation of a floating natural gas terminal in Brunsbuettel, the report said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

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