Latest news with #JaidaaTaha
Yahoo
06-05-2025
- Business
- Yahoo
Saudi Arabia, US to discuss deal in mining, mineral resources, cabinet says
CAIRO (Reuters) - Saudi Arabia is set to discuss a potential agreement with the United States about cooperation in the fields of mining and mineral resources, the Saudi cabinet said in a statement reported by the country's state news agency on Tuesday. The statement did not provide the details of the "memorandum", which it said would be negotiated by the Saudi Ministry of Industry and Mineral Resources and the United States Department of Energy. The statement comes ahead of a visit by U.S. President Donald Trump to Saudi Arabia next week. Saudi Arabia has been rapidly expanding its mining sector as part of its Vision 2030 economic diversification program, which aims to wean the economy off of oil, with gold, phosphate rock and bauxite its main resources. The kingdom has also announced discoveries of extensive domestic resources and last year Saudi officials nearly doubled their estimate for the kingdom's minerals reserves to $2.5 trillion, largely due to the addition of rare earths. Reuters reported in April that Saudi Arabia's flagship mining company Ma'aden is considering choosing at least one of four foreign firms, including a U.S. company, to form a rare earths processing partnership. Ma'aden is weighing a partnership with U.S.-based MP Materials, China's Shenghe Resources, Australia's Lynas Rare Earths, or Canada's Neo Performance Materials sources told Reuters. Saudi Arabia has also grown its international mining presence, launching a joint venture between its sovereign wealth fund and Ma'aden, called Manara Minerals to invest in mining assets abroad. Manara's first major foray abroad was a deal to become a 10% shareholder in Vale's $26 billion copper and nickel spin-off Vale Base Metals in 2023. (Reporting by Jaidaa Taha and Yousef Saba; Editing by Jan Harvey and Tomasz Janowski)
Zawya
06-05-2025
- Business
- Zawya
Saudi Arabia, US to sign deal in mining, mineral resources, cabinet says
Saudi Arabia is set to discuss and sign a deal with the U.S. in the fields of mining and mineral resources, the Saudi cabinet said in a statement relayed by the country's state news agency on Tuesday. (Reporting by Jaidaa Taha and Yousef Saba; Editing by Jan Harvey)
Japan Today
05-05-2025
- Politics
- Japan Today
Israeli strikes Yemen's Hodeidah Port after Houthi attack on Israel
By Mohammed Ghobari, Jaidaa Taha and Menna AlaaElDin The Israeli military said it carried out airstrikes against Yemen's Hodeidah Port on Monday, a day after the Iran-aligned Houthis fired a missile that struck near Israel's main airport. The military said in a statement that it attacked what it called Houthi terrorist targets in Hodeidah and its vicinity. The strikes injured at least 21 people, the Houthi-run health ministry spokesman Anees al-Asbahi said. The Houthis shut down the area around the port and cement factory following the strikes, three sources said. They said the extent of the damage at the port was unknown, yet the intensity of the strikes and fire caused severe damage to the containers' berth. Two other sources estimated the damage at 70% of the port's five docks, warehouses and customs area. The strikes occurred as two ships were unloading their cargo, with traffic at the port at a complete standstill, a worker at the port said. The port is the second-largest in the Red Sea after Aden and is the entry point for about 80% of Yemen's food than 10 strikes targeted Hodeidah Port and the Al Salakhanah and Al Hawak neighbourhoods in the city of Hodeidah, five residents told Reuters. Four strikes also targeted a cement factory east of Hodeidah. "The attack was carried out in response to repeated attacks carried out by the Houthi terrorist regime against the State of Israel in which surface-to-surface missiles and unmanned aircraft were launched at the territory of the state and its citizens," the Israeli military said. Israeli Prime Minister Benjamin Netanyahu vowed to retaliate for Sunday's missile attack, which was the first known to have escaped interception by Israel's air defences in a series of attacks since March. Houthi official Abdul Qader al-Mortada said in an X post commenting on the attack that Israel should wait for the "unimaginable". The Yemeni group resumed its attacks on Israel and shipping lanes following a brief suspension after the ceasefire between Hamas and Israel in Gaza ended. The Houthis, who control Yemen, have been firing at Israel and shipping in the Red Sea since the beginning of the war between Israel and Hamas in Gaza, in what they say is solidarity with the Palestinians. A U.S. official speaking on condition of anonymity said that U.S. forces were not actively involved in Monday's strikes, but there is general coordination between the two allies, the official said. Meanwhile, an oil company operated by the Houthis announced it has begun operating an emergency system for supplying cars with fuel, owing to difficulties in unloading cargo at the oil port of Ras Isa. The company, in a statement, attributed the decision to U.S. strikes on the country, including the port. U.S. President Donald Trump in March ordered large-scale strikes against the Houthis. The strikes have killed hundreds of people in Yemen while Israel has largely limited its strikes on Yemen since December last year. Earlier on Monday, Israel approved a plan that may include seizing the Gaza Strip and controlling aid to the Palestinian enclave. The war in Gaza started after Hamas-led attacks on southern Israel on October 7, 2023, in which 1,200 people were killed and 251 taken hostage, according to Israeli tallies. Israel's offensive on Gaza has killed more than 52,000 Palestinians, Gaza health officials have said, and destroyed much of the enclave. © Thomson Reuters 2025.
Zawya
14-04-2025
- Business
- Zawya
Iraq signs deal for 2.4mln bpd subsea oil pipeline
CAIRO: Iraq has signed a deal to establish a subsea oil pipeline for exports via its southern ports, the country's oil ministry said on Sunday. The project is in cooperation with Italian offshore contractor Micoperi and Turkey's Esta for a pipeline with capacity of 2.4 million barrels per day (bpd), the ministry said without providing further detail on the destination of the exports. (Reporting by Muayad Suadi Writing by Jaidaa Taha and Menna Alaa El Din Editing by David Goodman)
Zawya
07-04-2025
- Business
- Zawya
Libya devalues currency for first time in four years
CAIRO - Libya's central bank announced a 13.3% devaluation of the country's dinar currency on Sunday, setting the exchange rate at 5.5677 to the U.S. dollar effective immediately. This is the first official devaluation since the bank agreed to a devalued exchange rate of 4.48 dinars to the dollar in 2020. The parallel market exchange rate is currently at 7.20 dinars to the dollar. In September last year, the dinar slid against the U.S. dollar in the black market due to a crisis over control of the central bank that slashed oil output and exports. The crisis was resolved later in September following an agreement signed by representatives of Libya's rival eastern and western legislative bodies. The agreement, facilitated by the United Nations, paved the way for the appointment of a new central bank governor. In November, the eastern-based parliament speaker reduced the tax on foreign currency purchases to 15% from 20%. The tax is added to the rate when people buy foreign currencies from commercial banks. Libya has been plagued by instability since a NATO-backed uprising in 2011, leading to a split in 2014 between eastern and western factions, each governed by rival administrations. The spending of the two governments in 2024 totalled 224 billion dinars ($46 billion), including 42 billion dinars for crude-for-fuel swaps, the central bank said in a statement on Sunday. Public debt stood at 270 billion dinars, it said, projecting that it could exceed 330 billion dinars by the end of 2025 due to the lack of a unified budget. In December, Stephanie Koury, deputy head of the U.N. mission to Libya, urged the country's decision-makers to "urgently agree on a framework for spending in 2025 with agreed limits and oversight". ($1 = 4.8250 Libyan dinars) (Reporting by Jaidaa Taha, Ahmed Tolba and Ahmed Elumami; Editing by Elaine Hardcastle and Emelia Sithole-Matarise)
