Business & Economy
01 September 2023; MEMO: The first aircraft of Turkiye’s indigenous fighter program, the TF-X, sits in a hangar ahead of its maiden flight at the end of the year. But fiscal problems could stand in the way of its success, according to an analyst, even as the country’s President seeks partners for the program, Defence News reports.
01 September 2023; MEMO: Russian Foreign Minister, Sergey Lavrov, said on Friday that “the practical work” on supply of Russian grain to six African countries has already begun, Anadolu Agency reports.
Burkina Faso, the Central African Republic, Eritrea, Mali, Somalia and Zimbabwe will each get 50,000 tons of grain free of charge in the coming months, he said at an event in Moscow.
29 August 2023; MEMO: Egypt plans to drill 35 gas wells by mid-2025, according to the country’s Petroleum Minister on Tuesday, Anadolu Agency reports.
“The drilling of the 35 wells will cost over $1.5 billion in investments, and aims to increase the country’s production and reserves,” Tarek El-Molla said in a statement.
The drilling of the new well is part of a plan worth $1.9 billion to explore for gas in the Mediterranean and the Delta.
29 August 2023; MEMO: Iranian President Ibrahim Raisi said yesterday that the Islamic Republic’s “enemy” has “failed” in its attempts to isolate it, stressing Tehran’s readiness to resume negotiations on its nuclear file.
“The enemy tried to follow two strategies of isolating Iran in the world and disappointing the people inside, which it failed in both,” Raisi told a press conference in Tehran, referring to the Western sanctions imposed on Iran.
29 August 2023; MEMO: Saudi Arabia is reportedly considering bids from China, France and Russia for its ambitious nuclear power project, as part of a larger strategy to influence the US over a high-stakes security agreement. Even as the world’s top oil exporter, the kingdom has expressed deep interest in developing a civil nuclear energy programme.
28 August 2023; MEMO: The first Russian train carrying commercial goods has arrived in Iran, on its way to the Kingdom of Saudi Arabia, on a journey that is the first of its kind through Iranian territory, the Islamic Republic News Agency (IRNA) reported.
29 August 2023; MEMO: Riyadh and Ankara seek to increase their trade exchange to $30 billion in the medium and long terms, according to the head of the Union of Chambers and Commodity Exchanges of Turkiye (TOBB), Rifat Hisarciklioglu.
In a speech he delivered yesterday during a Turkish-Saudi roundtable meeting in the Turkish capital, Ankara, Hisarciklioglu said a significant growth in trade exchange between Turkiye and Saudi Arabia is expected by the end of this year.
25 August 2023; MEMO: Egypt hopes its imminent inclusion in the BRICS bloc of developing nations will help ease its shortage of foreign currency and attract new investment, but analysts say it may take time before any benefits appear, Reuters reports.
The bloc, which includes Brazil, Russia, India, China and South Africa, on Thursday invited Egypt and five other countries to join, and Egypt immediately welcomed the offer.
25 August 2023; MEMO: The Turkish and Ukrainian foreign ministers said, on Friday, that other solutions to the export of Ukrainian grain than the Black Sea grain deal, which ended after Russia quit last month, were less optimal, Reuters
23 August 2023; MEMO: Iraq has approved plans for the construction of 15 new residential cities across various governorates of the country as part of efforts to address the post-war housing crisis, according to Zawya, citing the official Arabic language daily Alsabah.
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