Latest news with #NayeraAbdallah
Zawya
16-05-2025
- Business
- Zawya
UAE and US agree on path for Abu Dhabi to buy most advanced AI chips, Trump says
DUBAI: U.S. President Donald Trump said on Friday the United Arab Emirates and the United States have agreed to create a path for the Gulf country to buy some of the most advanced artificial intelligence semiconductors from U.S. companies. (Reporting by Nayera Abdallah, Wwriting by Federico Maccioni, Editing by Timothy Heritage)
Yahoo
15-05-2025
- Business
- Yahoo
Trump says US close to a nuclear deal with Iran
By Nayera Abdallah, Parisa Hafezi and Tala Ramadan DUBAI (Reuters) -U.S. President Donald Trump said on Thursday that the United States was getting very close to securing a nuclear deal with Iran, and Tehran had "sort of" agreed to the terms. "We're in very serious negotiations with Iran for long-term peace," Trump said on a tour of the Gulf, according to a shared pool report by AFP. "We're getting close to maybe doing a deal without having to do this... there (are) two steps to doing this, there is a very, very nice step and there is the violent step, but I don't want to do it the second way," he said. An Iranian source familiar with the negotiations said there were still gaps to bridge in the talks with the United States. Fresh talks between Iranian and U.S. negotiators to resolve disputes over Tehran's nuclear programme ended in Oman on Sunday with further negotiations planned, officials said, as Tehran publicly insisted on continuing its uranium enrichment. Though Tehran and Washington have both said they prefer diplomacy to resolve the decades-long nuclear dispute, they remain divided on several red lines that negotiators will have to circumvent to reach a new deal and avert future military action. Iran's president reacted to Trump's comments on Tuesday calling Tehran the 'most destructive force' in the Middle East. 'Trump thinks he can sanction and threaten us and then talk of human rights. All the crimes and regional instability is caused by them (the United States),' Masoud Pezeshkian said. 'He wants to create instability inside Iran.' U.S. officials have publicly stated that Iran should halt uranium enrichment, a stance Iranian officials have called a "red line" asserting they will not give up what they view as their right to enrich uranium on Iranian soil. However, they have indicated a willingness to reduce the level of enrichment. Iranian officials have also expressed readiness to reduce the amount of highly enriched uranium in storage—uranium enriched beyond the levels typically needed for civilian purposes, such as nuclear power generation. However, they have said it would not accept lower stockpiles than the amount agreed in a deal with world powers in 2015 - the deal Trump quit. The Iranian source said that while Iran is prepared to offer what it considers concessions, "the issue is that America is not willing to lift major sanctions in exchange." Western sanctions have severely impacted the Iranian economy. Regarding the reduction of enriched uranium in storage, the source noted: 'Tehran also wants it removed in several stages, which America doesn't agree with either.' There is also disagreement over the destination to which the highly enriched uranium would be sent, the source added. (Reporting By Nayera Abdallah and Tala Ramadan; Writing by Michael Georgy; Editing by Ros Russell)
Zawya
06-05-2025
- Business
- Zawya
Egypt current account deficit narrows as remittances soar
CAIRO: Egypt's current account deficit narrowed to $5.17 billion in the last quarter of 2024 from $6.82 billion a year earlier as surging remittances from Egyptians working abroad counterbalanced a sharply wider trade deficit, central bank figures showed on Monday. Remittances from abroad jumped to $8.74 billion in the three-month period from $4.93 billion a year earlier, when an overvalued currency and a thriving black market had pushed the trade out of the official currency market. The black market all but disappeared after the government sharply devalued the Egyptian pound and hiked interest rates, part of an $8 billion financial support package signed with the International Monetary Fund in March 2024. Egypt's trade deficit widened to $13.44 billion in the fourth quarter from $10.71 billion a year earlier, with imports jumping to $23.06 billion from $18.83 billion. A scarcity of foreign exchange had sharply curtailed imports before the IMF agreement was reached. Tourism revenue rose to $3.91 billion from $3.32 billion a year earlier, showing resilency despite Israel's campaign in Gaza. Oil exports rose to $1.80 billion from $1.61 billion a year earlier, while oil imports climbed to $4.25 billion from $3.38 billion. Suez Canal revenue plummeted to $880.9 million in the fourth quarter from $2.40 billion a year earlier, the victim of attacks on shipping by Yemen's Houthis, who say they are trying to shut off cargo bound for Israel in support of Palestinians in Gaza, but are also chasing ships away from the canal. Foreign direct investment rose to $2.72 billion from $2.21 billion a year earlier. Foreign investors withdrew a net $384.5 million from Egyptian treasuries, less than the $523.4 million they withdrew a year earlier. (Reporting by Ahmed Alimam and Nayera Abdallah; Writing by Jaidaa Taha, Hatem Maher, Nayera Abdallah and Patrick Werr; Editing by Tomasz Janowski, Jan Harvey and Leslie Adler)
Zawya
27-03-2025
- Business
- Zawya
Egypt approves $91bln budget for 2025/26
CAIRO - Egypt's cabinet approved a 4.6 trillion Egyptian pound ($91 billion) draft state budget for the financial year that will begin in July, a government statement said on Wednesday, as it continues to tighten its finances under an IMF programme. Expenditures will rise by 18% and revenue by 19% over the current 2024/25 budget. Revenue is expected to hit 3.1 trillion pounds, working out to a deficit of about 1.5 trillion pounds ($30 billion). The increased expenditure partly reflects elevated headline inflation, which was running at an annual 12.8% in February. Financial reforms under an $8 billion financial reform programme signed in March 2024 with the International Monetary Fund have helped Egypt bring inflation down from a peak of 38% in September 2023. The IMF this month approved the disbursement of $1.2 billion to Egypt after its fourth review of the programme. The new budget targets a primary surplus of 795 billion pounds, equal to 4% of GDP, up from the 3.5% primary surplus originally targeted in the 2024/25 budget. The IMF granted the government a waiver in the fourth review after the surplus came in 0.5% of GDP lower than Egypt's earlier commitment. In its third review in June, the IMF praised Egypt for its "strict control of spending". The new budget also lowers public debt to 82.9% of GDP from an expected 92% in 2024/25, the cabinet statement said. The cabinet said 732.6 billion pounds in spending in the new budget would be allocated for subsidies, grants and social benefits, an increase of 15.2%. The budget increases commodities and bread subsidies by 20% to 160 billion pounds. It will also include 75 billion pounds to subsidise petroleum products, 75 billion pounds to subsidise electricity and 3.5 billion pounds to subsidise natural gas deliveries to households, the statement added. ($1 = 50.5200 Egyptian pounds) (Reporting by Moemen Attallah, Nayera Abdallah and Jaidaa Taha; Editing by Patrick Werr and Alison Williams)
Reuters
24-03-2025
- General
- Reuters
Sirens sound in Israel after projectile launched from Yemen, military says
March 24 (Reuters) - The Israeli military said sirens sounded in several areas of Israel on Monday after a projectile was launched from Yemen, according to a statement. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. Reporting by Menna Alaa El-Din and Nayera Abdallah; Editing by Kevin Liffey Our Standards: The Thomson Reuters Trust Principles., opens new tab
