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Assad in call to UAE to further diplomatic relations

The United Arab Emirates’ crown prince received a rare telephone call from Syrian President Bashar Assad in which they discussed strengthening relations and cooperation, Syria’s state media reported Wednesday. The call between Assad and UAE’s Crown Prince Mohammed bin Zayed came as some Arab countries are improving relations with Syria, …

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Uneasy Lebanon readies itself for March polls

 Lebanon’s parliament voted on Tuesday to hold legislative elections on March 27, giving Prime Minister Najib Mikati’s government only a few months to try to secure an IMF recovery plan amid a deepening economic meltdown. Lebanon’s financial crisis, which the World Bank labelled one of the deepest depressions of modern …

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Expo 2020 collaborates with Dutch company GSES System in efforts to host the most sustainable World Expo in history

Striving to be the most sustainable World Expo in history, Expo 2020 Dubai has collaborated with Dutch company Global Sustainable Enterprise System (GSES) under efforts to measure and report the sustainability performance of key stakeholders across the event.Specifically developed by GSES for Expo 2020, the tailored software platform measures the …

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A Reading in the much anticipated Lebanese negotiations with the International Monetary Fund

Lebanon is gripped by an epic financial crisis made worse by the coronavirus pandemic, a year of political deadlock, and a week after its confirmation.By Mohammad Ibrahim FheiliThe new cabinet of business tycoon Najib Mikati held its first meeting Wednesday. He appointed a team who will sit across its International Monetary Fund (IMF) …

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IMF warns of dangers of crypto-currencies

The advent of digital currencies in emerging markets could spark “cryptoization” of local economies, potentially undermining exchange and capital controls and upsetting financial stability, the International Monetary Fund said on Friday. Bitcoin and its kin have in the last year soared in price and popularity, with emerging and developing market economies …

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Lebanon appoints new IMF team

Lebanon said Thursday it has formed a new government delegation to resume talks with the International Monetary Fund aimed at rescuing the country from an economic meltdown. The government of Prime Minister Najib Mikati said in a statement that a four-member committee had been appointed to resume talks with the …

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US and Qatar coordinate new sanctions wave against Hezbollah finances

The US Treasury Department Wednesday announced sanctions on a Hezbollah financial network based in the Arabian Peninsula, with support from Qatar. In the release, the US government noted that it designated these individuals and entities in “coordinated actions” with Qatar. Among the designations were Ali Reda Hassan al-Banai (Ali al-Banai), Ali Reda …

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Macron wants Lebanon to stick to IMF requirements

French President Emmanuel Macron urged Beirut on Friday to implement urgent reform measures and push ahead with International Monetary Fund (IMF) talks, adding that France would continue to support Lebanon. Macron made his comments after meeting Lebanon’s Prime Minister Najib Mikati, who is on his first foreign trip after successfully …

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Prices sore as Lebanese lira plummets

Lebanese residents were forced to pay more than double for consumer goods in July compared with a year earlier as prices soared amid a partial lifting of fuel subsidies and a record plunge in the local currency. The latest data from Lebanon’s Central Administration of Statistics shows the consumer price …

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The beauty of Uzbekistan

Since ancient times, Uzbekistan has been in the center of Great Silk Road and has a great historical, cultural and architectural heritage. By Sher KarimovSamarkand, Bukhara, Khiva are the brands of the ancient culture of the East. The landscapes of mountains and deserts of Uzbekistan attract attention and admiration of …

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UAE investing across the board in UK

The UK Office for Investment and the United Arab Emirate’s (UAE) Mubadala Investment Company are expected to sign an expansion of the Sovereign Investment Partnership (SIP) on Thursday, British PM Boris Johnson’s press office said in a statement. The deal will promote investments across Britain in life sciences, technology, energy transition and …

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New Lebanese government pushes draft commitment to IMF

The Lebanese government will resume negotiations with the International Monetary Fund while beginning reforms demanded by donors, according to a draft policy programme that aims to tackle one of the worst financial meltdowns in history. New Prime Minister Najib Mikati’s government will also resume negotiations with creditors over a restructuring …

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President Aoun hopeful for new IMF talks

Lebanon’s President Michel Aoun said on Monday he hoped the new cabinet’s policy programme would include a resumption of talks with the International Monetary Fund. Aoun’s statement came as the new government, formed on Friday, was meeting for the first time in the presidential palace. “We will face big difficulties …

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Egypt, Iraq building joint industrial complexes

Iraqi investors and industrialists want to establish integrated industrial complexes with their Egyptian counterparts, taking a first step to enhance trade relations between the two countries. During a meeting with a delegation of the Federation of Iraqi Industries headed by its vice president Alaa Al-Agaili, Egyptian Trade and Industry Minister Nevin Gamea said both countries are working on strengthening trade …

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Economic emergency government agreed to in Lebanon

Lebanese President Michel Aoun announced the formation of a government on Friday afternoon, ending 13 months of caretaker governance. The agreement over a Cabinet line-up headed by telecoms billionaire Najib Mikati as prime minister, came after weeks of wrangling over the distribution of government ministries between Lebanon’s various political parties. …

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Egypt wants its debt to be Euroclearable

Egypt is still discussing some technical issues to make its domestic debt “Euroclearable”, a goal it expects to achieve within a few months but not by an earlier target of November, Finance Minister Mohamed Maait said on Wednesday. Egypt signed an agreement to create a cross-border link with Euroclear, Europe’s …

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Qatar to send aid to Gaza through Abbas

 Qatar will soon resume funding for civil servants and poor families in the Gaza Strip under a new mechanism involving the Western-backed Palestinian Authority and the United Nations, the Gulf state’s aid envoy said on Monday. Doha has underwritten Gaza rebuilding and infrastructure projects since the 2014 war between the …

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The impact of Serbia’s “low wage policy”

As young people increasingly choose to emigrate in search of better opportunities, Serbia started facing labor shortages. Many entrepreneurs operating in the Balkan nation still refuse to pay relatively decent salaries, hoping that they will manage to hire foreign workers, mainly from Southeast Asia. By Nikola MikovicOfficially, the unemployment rate …

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US Senator warns of Lebanese horror story

Lebanon is in free fall and must not become a “horror story”, a U.S. senator said during a visit to Beirut on Wednesday, voicing hope that a government would be formed this week to start addressing its destabilising financial meltdown. The comment reflected growing concern https://www.reuters.com/world/middle-east/eu-worried-lebanons-fast-deterioration-says-time-has-run-out-2021-08-26 about the situation in …

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