Business

05 July 2022; MEMO: Brazilian President, Jair Bolsonaro, said funds originating from the Arab world are nearly $20 billion – with half coming from the South American nation's recent participation at the Expo Dubai, Anadolu News Agency reports.

06 July 2022; MEMO: The Deputy Secretary-General of Hezbollah demanded on Tuesday that Lebanon should be given its full oil and gas rights in its territorial waters, agencies have reported.

"Today we are facing a rightful demand related to Lebanon's restoration of its oil and gas wealth in its territorial waters," said Sheikh Naim Qassem in a speech at a ceremony marking the 40th anniversary of the foundation of the movement. "The promises made by some about postponing the solution are not useful."

07 July 2022; MEMO: Ben & Jerry's, on Tuesday, sued its parent Unilever Plc to block the sale of its Israeli business to a local licensee, saying it was inconsistent with its values to sell its ice cream in the occupied West Bank, Reuters reports.

04 July 2022; MEMO: Turkiye's annual inflation rate was at 78.62 per cent in June, the country's statistical authority said on Monday, Anadolu News Agency reports,

According to the report, the inflation rate reported by Türkiye's state statistics agency was the highest since January 1998.

Turkiye's Economy Minister, Nureddin Nebati, on Friday said that consumer prices will start dropping next December.

"We will see a drop in inflation starting in December," he was quoted as saying by Turkish media.

04 July 2022; MEMO: Turkiye has halted a Russian-flagged cargo ship off its Black Sea coast and is investigating a Ukrainian claim that it was carrying stolen grain, a senior Turkish official said on Monday, Reuters reports.

Ukraine's ambassador to Turkiye said, on Sunday, the "Zhibek Zholy" was detained by Turkish customs authorities. Ukraine had previously asked Ankara to detain it, according to an official and documents viewed by Reuters.

04 July 2022; MEMO: Qatar's Foreign Minister, Sheikh Mohammed bin Abdulrahman Al-Thani, held talks with US Secretary of State, Antony Blinken, on the latest developments of efforts to revive the Iran nuclear deal, the state news agency, QNA, reported.

This came during a phone call made by the Qatar Minister with the Chief US diplomat on Sunday, Anadolu News Agency reports.

04 July 2022; MEMO: Tanzania said, on Monday, that it had signed an agreement with a Turkish firm, Yapi Merkezi, to build a $900 million modern railway line as part of the country's efforts to upgrade transportation links and boost trade with its neighbours, Reuters reports.

04 July 2022; MEMO: Israel has announced that its trade with Arab countries has reached record increases within one year alone, as a result of the numerous deals and economic agreements struck between them in their normalisation of relations.

03 July 2022; MEMO: Somalia's President Hassan Sheikh Mohamud will be in Turkey on an official visit from July 3-5, Turkish authorities announced on Sunday, Anadolu Agency reported.

Bilateral relations and steps to enhance cooperation will be discussed in depth during the visit, which comes at the invitation of Turkish President Recep Tayyip Erdogan, according to a Turkish Presidency statement.

"The two leaders are also expected to exchange views on regional and international developments," the statement said.

04 July 2022; MEMO: Saudi Arabia's unemployment fell to 10.1 per cent in the first quarter of 2022, down from 11 per cent at the end of last year, the state-run General Authority for Statistics (GASTAT) announced yesterday.

GASTAT said in its report that the kingdom's female unemployment rate had declined to "20.2 per cent, compared to 22.5 per cent at the end of the fourth quarter of 2021," noting that this was the "lowest since 2001."