Business

28 Feb 2023; MEMO: Since the beginning of this year, Britain has shown a remarkable interest in strengthening cooperation in the military fields with Algeria. This was reflected by the close visit of two senior British officials to the country, and their meeting with the Chief of Staff of the Algerian Army, through which he sent several messages related to "Algeria's neutrality in the ongoing international conflicts and its jealousy over its sovereignty".

27 Feb 2023; MEMO: Iran's national currency plummeted to an all-time low against the US dollar on Sunday, triggering chaos in the country's forex market and economic circles, Anadolu reports.

The stuttering rial traded below 600,000 to the greenback in the free market for the first time ever as foreign currencies, including the US dollar and British pound, rallied against it.

24 Feb 2023; MEMO: Turkiye has begun initial work to rebuild homes following this month's devastating earthquakes, a government official said on Friday, as a UN Development Program (UNDP) estimated 1.5 million people have been left homeless, Reuters reports.

More than 160,000 buildings containing 520,000 apartments collapsed, or were severely damaged, in the 6 February earthquakes that killed more than 43,500 people in Turkiye and nearly 6,000 in neighbouring Syria.

25 Feb 2023; MEMO: Iranian state television announced on Friday that Iran is likely to sell surface-to-air missiles to Syria to help it boost air defences in the face of repeated Israeli airstrikes.

"Syria needs to rebuild its air defence network and requires precision bombs for its fighter planes," shared the state television.

22 Feb 2023; MEMO: Iraq's Central Bank announced, on Wednesday, it plans to regulate foreign trade from China directly in Yuan as part of a bundle of measures to facilitate access to foreign currency, state media reported.

The reports did not give more details about plan, Reuters reports.

22 Feb 2023; MEMO: Afghanistan's Taliban-led administration has set up a consortium of companies, including some in Russia, Iran and Pakistan, to create an investment plan focusing on power, mining and infrastructure, the acting Commerce Minister said on Wednesday, Reuters reports.

20 Feb 2023; MEMO: Iranian Foreign Minister, Hossein Amirabdollahian, will not attend the Raisina Dialogue in India, Iran's Foreign Ministry spokesperson said on Monday, criticising a video posted by the conference organisers showing protests in the Islamic Republic, Reuters reports.

21 Feb 2023; MEMO: The African Union is organising a national reconciliation conference for Libya, AU Commission Chief, Moussa Faki Mahamat, told AFP.

According to a report published by AFP, the meeting will be chaired by the African Union's point man on Libya, Republic of Congo President, Denis Sassou Nguesso, Faki said.

21 Feb 2023; MEMO: The United Arab Emirates signed defence deals worth 8.14 billion dirhams ($2.22 billion) on the second day of a major industry expo in Abu Dhabi, with the bulk of the business signed with a state-owned firm, a state defence acquisitions agency said.

22 Feb 2023; MEMO: A shipping company in the UAE is to deliver a fleet of naval corvettes to Angola following the signing of a €1 billion deal. The deal was announced yesterday during this week's IDEX defence show in Abu Dhabi.