Business

26 June 2023; MEMO: The US administration has requested the provision of $1.45 billion in annual aid to Jordan for fiscal year 2024, in line with the Memorandum of Understanding on Strategic Partnership concluded in September 2022.

26 June 2023; MEMO: Saudi Arabia has launched development projects worth 1.2 billion Saudi riyals ($320 million) in Yemen's Hadramout region, a Yemeni official announced yesterday, Anadolu news agency reported.

The Undersecretary of the Yemeni Ministry of Information, Muhammad Gezan, said: "The Saudi Development and Reconstruction Program for Yemen has launched a package of development and vital projects and programs in Hadramout, with a value exceeding 1.2 billion Saudi riyals ($320 million)."

23 June 2023; MEMO: Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.

21 June 2023; MEMO: Indian Prime Minister Narendra Modi is to visit the newly restored 11th century Al-Hakim Mosque during his first visit to Egypt this week.

21 June 2023; MEMO: The Kremlin, on Wednesday, said that the UN is unable to exert necessary influence on the West in order to fulfil their obligations under the Black Sea Grain Initiative, Anadolu Agency reports.

21 June 2023; MEMO: Turkiye's Central Bank is expected to raise its benchmark policy rate sharply on Thursday, in a strong signal that re-elected President Recep Tayyip Erdogan has accepted some steps toward monetary tightening to combat inflation, Daily Sabah reports.

21 June 2023; MEMO: Israel is reportedly set to support Saudi Arabia's bid to host the Expo 2030, amid efforts to convince the Kingdom to agree to normalise relations with Tel Aviv.

20 June 2023; MEMO: Qatar is set to secure a second large gas supply deal with a Chinese state-controlled company in less than a year, the Financial Times reported on Tuesday.

According to the report, China National Petroleum Corporation (CNPC) and QatarEnergy are expected to sign a 27-year agreement on Tuesday, under which China will purchase 4 million metric tons of LNG a year from the Gulf state, the report said, citing people briefed on the matter.

21 June 2023; MEMO: Pakistan is undergoing negotiations with the United Arab Emirates (UAE) to hand over operational management of the port terminals of the city of Karachi, as Islamabad continues to seek emergency funds to pay off its debt to the International Monetary Fund (IMF).

20 June 2023; MEMO: The CEO of the Saudi SCOPA defence company, Fawaz Al-Aqeel, yesterday announced the signing of an agreement with the French Airbus company to manufacture civilian and military helicopters in the kingdom.

Al-Aqeel said the project will provide more than 8,500 jobs, adding that the company expects investments worth more than 25 billion riyals ($6.67 billion) over 20 years, Saudi state TV Al-Ekhbariya reported.