Category Archives: Business
The only treaty on sharing the waters of the river once honoured by all the affected countries was based on a colonial era deal set out by Britain in 1929. But it was replaced in 2010 by a new instrument adopted by the five upstream African countries led by Ethiopia – and rejected by Egypt and Sudan.
“The government doesn’t have any excuses any more.” Even before the election there had been some signs of progress. The Emir Sheikh Sabah Al Ahmad Al Jaber Al Sabah had made a number of televised speeches, which gave observers hope that the economic inertia that has gripped the country might be coming to an end.
Continuing broadband penetration across most of the Middle East and North Africa has not only boosted the numbers of Facebook and Twitter users but is also a major factor in the steady growth of e-commerce.
Situated on some of the world’s most lucrative trade routes connecting Asia, Africa and Europe, Turkey is now rapidly expanding its transportation and logistics infrastructure to cater to its future role as both an energy and industrial global hub, as well as an increasing magnet for both regional and international tourism.
Again, as in its relations with most other governments, the IMF has asked Cairo to reduce or phase out this financial support, partly in order to improve its finances and partly in an attempt to reduce consumption. Egyptian oil and gas consultant Magdi Nasrallah says:
Insurers in the GCC have for some time called for greater harmonisation of regulations across the GCC region. Not only will this benefit the consumer by increasing competition, insurers’ costs would be reduced. Such harmonisation, though, is a complicated matter and there are currently no signs it will become a reality.
Some 60% of Qatar’s $1.25bn grant will be used to fund local community development projects, another programme that will help to reduce unemployment, especially in the rural areas, according to Finance Minister Suleiman Hafez. Another 15% will be spent on projects in the energy sector, such as shale oil exploration, 15% on education and health and 10% on transport.
‘Stick or twist’ sums up the changes of political power in America and China last month. President Obama won another four-year-term in Washington, while Xi Jinping assumed stewardship of China. This intricate ‘Chimerican’ relationship is fundamental to the global outlook anywhere you care to look, and nowhere more so than the Middle East.
But, as Mazen Darwazeh, a senior executive at Jordanian-based Hikma Pharmaceuticals points out, there is “an awakening in this part of the world. “Governments,” he told the London daily