Latest news with #MennaAlaaEl-Din
The Star
3 days ago
- Business
- The Star
Saudi Arabia to provide financial support with Qatar to Syria's state employees, Saudi foreign minister says
Saudi Foreign Minister Prince Faisal bin Farhan Al Saud attends a press conference with Syrian Foreign Minister Asaad Hassan al-Shibani (not pictured), in Damascus, Syria May 31, 2025. REUTERS/Yamam Al Shaar CAIRO (Reuters) -Saudi Arabia's Foreign Minister Prince Faisal bin Farhan Al-Saud said on Saturday that the kingdom will jointly offer with Qatar financial support to state employees in Syria. "The kingdom will provide with Qatar joint financial support to state employees in Syria," Bin Farhan said during a press conference with his Syrian counterpart Asaad al-Shibani in Damascus. He did not provide details on the size of the financial support to be provided by Riyadh and Doha. However, it echoes a similar move by Qatar to bankroll Syria's public sector. His visit comes few weeks after the U.S. made a surprise announcement on lifting sanctions on Syria's Islamist-led government which overthrew former leader Bashar al-Assad in December. U.S. President Donald Trump made the decision during his recent visit to the Middle East and said it was at the behest of Saudi Arabia's crown prince, whose country was a main advocate for the lifting of sanctions. The European Union also recently lifted economic sanctions on Syria. Bin Farhan referred to his country's role in helping to lift economic sanctions on Syria, saying that Saudi Arabia would continue to be one of the main backers to Syria in its path for reconstruction and economic recovery. He said he was being accompanied with a high-level economic delegation from the kingdom to "hold talks [with the Syrian side] to bolster aspects of cooperation in various fields". Several visits would then follow in the coming days by Saudi businessmen to Syria to discuss investments in energy, agriculture, infrastructure and other sectors, he said. (Reporting by Menna Alaa El-Din and Muhammad Al Gebaly; Writing by Menna Alaa El-Din and Jaidaa Taha; Editing by Toby Chopra)
The Star
20-05-2025
- Business
- The Star
Ambrey says Panama-flagged products container reportedly interdicted northwest of Iranian port
CAIRO (Reuters) -British maritime security firm Ambrey said on Tuesday a Panama-flagged and UAE-linked products tanker was reportedly interdicted approximately 51 nautical miles northwest of the Iranian port of Bandar-e jesk. It said an urgency broadcast transmitted that the vessel has been "hijacked." Ambrey said it assessed the vessel was aligned with the Iranian "shadow fleet," adding a sister vessel was designated by OFAC under the Iranian sanctions programme. (Reporting by Menna Alaa El-Din and Muhammad Al Gebaly; Editing by Chris Reese)
Yahoo
06-05-2025
- Politics
- Yahoo
Iran says 'disturbed' by UK arrest of Iranians in terrorism probe
CAIRO (Reuters) - Iranian Foreign Minister Abbas Araqchi said on Tuesday he was "disturbed" to learn Iranian citizens have been arrested by British authorities, according to a post on X. He said Iran was ready to assist in investigations if "credible allegations of misconduct are established". His statements come days after British counter-terrorism police arrested eight men including seven Iranians in two separate operations in what the British interior minister called some of the biggest investigations of their kind in recent years. (Reporting by Menna Alaa El-Din and Jaidaa Taha)
Zawya
06-05-2025
- Business
- Zawya
Oman sovereign wealth fund in preliminary pact with Algeria for investment fund
CAIRO: The Oman Investment Authority signed a preliminary agreement with Algeria's Finance Ministry to establish an investment fund worth 115 million Omani riyals ($298.79 million). The fund announced by the sultanate's sovereign wealth fund will focus on mining, food security and pharmaceutical industries, according to a statement by the OIA. The agreement was signed on the sidelines of an official visit by Oman's Sultan Haitham bin Tariq al-Said to the North African country. Several agreements were signed during the visit, including a term sheet between Algeria's state oil and gas firm Sonatrach and Oman's oil and gas drilling services firm Abraj Energy Services to evaluate setting up a joint venture for oil services. The term sheet outlines the technical, legal and economic and commercial conditions to evaluate establishing an oil services joint venture company in Algeria between the two companies, Sonatrach said in a statement on Monday. The joint venture will focus on drilling, well services and management of integrated projects in the Algerian market, according to the statement. ($1 = 0.3849 Omani rials) (Reporting by Menna Alaa El-Din and Jaidaa Taha; Editing by Leslie Adler and Edward Tobin)
Zawya
06-05-2025
- Business
- Zawya
IMF to begin 5th review of Egypt's economic programme this week
CAIRO: The International Monetary Fund will begin the fifth review of Egypt's $8 billion economic reform programme, with a team scheduled to arrive in Cairo this week, the IMF said in a statement on Monday. The IMF board approved the fourth review on March 11, unlocking a disbursement of $1.2 billion in a 46-month IMF loan programme first approved in 2022 and later expanded following the outbreak of fighting in Gaza. Egypt had been suffering from a severe shortage of foreign currency and inflation that peaked at 38% in September 2023. The IMF has yet to publish a staff report from the fourth review, saying the Egyptian authorities needed more time to consider its publication. The IMF team is expected to begin its visit on Tuesday and remain in Cairo until May 16, a person familiar with the mission said. The IMF board in March also approved an additional $1.3 billion in financing under its Resilience and Sustainability Fund. In the fourth review, the IMF board approved a request by Egypt to waive its primary budget surplus target. The surplus was expected to reach 4% of GDP in the fiscal year that will begin on July 1, 0.5% less than Egypt had committed to earlier in the programme. (Reporting by Patrick Werr, Writing by Menna Alaa El-Din, Editing by Chris Reese and David Gregorio)
