Business

03 August 2023; MEMO: Turkiye's long-standing anti-imperialist stance and President Recep Tayyip Erdogan's famous motto "The world is bigger than five," has been a factor in the rising anti-colonialist sentiment in West Africa, an expert said, Anadolu Agency reports.

03 August 2023; MEMO: The United States would continue to do "whatever is necessary" to ensure Russia can freely export food if there was a revival of a deal allowing the safe Black Sea export of Ukrainian grain, US Secretary of State, Antony Blinken, said on Thursday, Reuters reports.

04 August 2023; MEMO: Saudi Arabia will extend a voluntary oil output cut of one million barrels per day for another month to include September, it said yesterday, adding it could be extended beyond that or deepened, Reuters reported.

The kingdom's production for September will be around nine million barrels per day (bpd), the state news agency SPA cited an official source at the energy ministry as saying.

31 July 2023; MEMO: The Taliban-run Afghanistan administration said, on Monday, it had met US Special Representative, Tom West, in Qatar and discussed the lifting of travel and other restrictions on Taliban leaders and the return of Afghan Central Bank assets parked abroad, Reuters reports.

01 August 2023; MEMO: The Arab Monetary Fund (AMF) has agreed to extend a new loan of $615.8 million to Egypt, making it the latest such loan to the North African country.

Signed last week Tuesday by the Central Bank of Egypt's Governor, Hassan Abdalla, and the AMF Director-General Chairman, Abdulrahman Al-Hamidy, the agreement for the new loan reportedly aims to support Egypt's reforms in its banking sector.

01 August 2023; MEMO: Indonesia has bought 12 new drones from Turkish Aerospace worth $300 million, its Defence Ministry said on Tuesday, the latest in a series of purchases aimed at modernising the country's ageing military equipment, Reuters reports.

The deal comes after Indonesian President, Joko Widodo, in July warned his cabinet to maintain a "healthy" budget as he highlighted outsized spending by the country's security agencies, including the Defence Ministry.

01 August 2023; MEMO: Turkiye's monthly inflation is seen at 9.1 per cent in July due to various tax hikes and the lira's sharp depreciation, a Reuters poll showed.

According to the poll, the annual reading is expected to rebound sharply to 47.3 per cent after declining for eight months.

Economists' year-end forecasts were also revised sharply higher to 59.9 per cent, as inflation is expected to continue climbing for the rest of the year, the poll added.

02 August 2023; MEMO: Turkiye and Egypt have agreed to boost bilateral trade from $10 billion to $15 billion over the next five years, Turkish Trade Minister Omer Bolat said yesterday.

This came after a meeting with his Egyptian counterpart, Ahmed Samir Saleh, and the accompanying delegation in Ankara.

Speaking to reporters after the closed meeting, Bolat said there is great potential for cooperation between the two countries, noting that Egypt is Turkiye's leading trading partner in Africa.

31 July 2023; MEMO: The Director-General of Russia's nuclear energy corporation, Rosatom, on Monday said that Bangladesh will get the nuclear fuel for its lone nuclear power plant this September, Anadolu Agency reports.

Alexey Likhachev said this during a meeting with Bangladeshi Prime Minister, Sheikh Hasina, at the latter's office in the capital, Dhaka, the Premier's Press Secretary, Ihsanul Karim, told reporters after the meeting.

27 July 2023; MEMO: Russian President, Vladimir Putin, on Thursday announced that his country will provide free grain to six African countries in the next three to four months, Anadolu Agency reports.