Business

28 Mar 2023; MEMO: The improved bilateral relations between Saudi Arabia and Iran will "strengthen regional solidarity", China's President Xi Jinping told Saudi Crown Prince, Mohammed bin Salman (MbS) on Tuesday, Anadolu News Agency reports.

28 Mar 2023; MEMO: British multinational oil and gas firm, BP plc, and Abu Dhabi National Oil Co. (Adnoc) on Tuesday announced a joint bid to buy 50 per cent of Israel's NewMed Energy in a deal valued at about $2 billion, the Times of Israel reports.

27 Mar 2023; MEMO: Israel and the United Arab Emirates on Sunday signed a free trade pact into effect, reducing or removing tariffs on about 96% of goods traded between the nations, Israel's Foreign Ministry said, Reuters reports.

The countries first reached the agreement last May, promising to boost bilateral trade after they normalized ties in 2020 in a U.S.-brokered deal.

27 Mar 2023; MEMO: The foreign ministers of Iran and Saudi Arabia are to meet during the holy month of Ramadan, according to an announcement today by the official Saudi Press Agency (SPA).

27 Mar 2023; MEMO: Qatar's Sheikh Jassim Bin Hamad Bin Khalifa Al-Thani has submitted a fresh bid to buy English Premier League football club Manchester United, according to reports on Saturday.

25 Mar 2023; MEMO: Algeria and France have ended their diplomatic crisis and agreed to "reinforce mutual cooperation," news agencies reported on Friday. This came following a phone call between the presidents of both countries.

Algerian President Abdelmadjid Tebboune and French President Emmanuel Macron agreed to reinforce contact between the two countries: "In order to avoid facing misunderstandings," the French presidency announced.

26 Mar 2023; MEMO: Ethiopian Vice-Chair of the Renaissance Dam Coordinating Council Faqrati Tamru announced on Friday that 90 per cent of the construction of the Renaissance Dam had been completed. Meanwhile, Egypt's Minister of Water Resources and Irrigation Dr Hani Sewilam indicated that the continued uncooperative unilateral measures to operate the Grand Ethiopian Renaissance Dam could harm his country and cause immeasurable damage to the social and economic stability of Egypt.

24 Mar 2023; MEMO: Russia has become Iran's largest foreign investor, Tehran's Finance Minister said in an interview published on Thursday.

Russia invested $2.76 billion in the Islamic Republic during the current financial year, which ended this week, Ehsan Khandouzi told the Financial Times. These investments were made in various sectors such as the industrial, mining and transport sectors, according to the Minister.

23 Mar 2023; MEMO: Increasing trade between Turkiye and Africa to $4.5 billion is the objective set by the new initiative, Global Forum for Intersectoral Cooperation, African News reports.

According to the report, the initiative aims to increase the notoriety of Turkish SMEs on the continent. Its approach is innovative.

23 Mar 2023; MEMO: Germany plans to have as much as 70.7 million tons, per year, of LNG import capacity by 2030 as the country faces the risk out of gas, Argus reports.

According to the report, Germany no longer receives Russian gas via Nord Stream, which was sabotaged in the autumn of 2022.