Business

21 Dec 2022; MEMO: Algeria's Ministry of Energy and Mines is mulling the construction of a gas pipeline linking the country with Italy, local media reported, citing Mohamed Arkab.

In a speech he gave at the Algerian-German Energy Day yesterday, Arkab said that Algeria is conducting a study to develop extensive infrastructure for electricity transmission and a network to link Algeria with the northern part of the Mediterranean.

21 Dec 2022; MEMO: The Egyptian government will be transferring its headquarters next month to the New Administrative Capital, located 45 kilometres east of the country's current capital Cairo. The announcement was made by the Chairman of the Board of Directors of the New Administrative Capital Company, Khaled Abbas, reported Egypt Independent yesterday.

21 Dec 2022; MEMO: Greece lags behind Turkiye in strategic communication, a major Greek daily argued on Tuesday.

Greece deals with the process of the synthesis, formulation, and promotion of the main national positions at the international level very amateurishly, said Kathimerini daily.

21 Dec 2022; MEMO: Britain's Capricorn Energy Company which manages natural gas and oil assets in Egypt plans to dismiss seven of its executives who reject a takeover deal by Israel's NewMed Energy, Reuters has reported. The proposed merger would see a new company operating in the Egyptian and Israeli natural gas fields, amid efforts by Cairo and Tel Aviv to reserve a share of exports for energy-hungry Europe.

21 Dec 2022; MEMO: Iran has suggested holding a referendum on creation of an independent Palestinian state with Jerusalem as its capital, news agencies reported yesterday.

This came as Iranian Foreign Minister Hossein Amir-Abdollahian addressed the second round of the Baghdad Conference for Cooperation and Partnership held in Jordan.

He also reiterated the Islamic Republic's solidarity with the Palestinian cause and said the issue of Palestine was the "primary issue" of the Muslim world.

20 Dec 2022; MEMO: Jordan is hosting a summit today that brings together France and the main players in the Middle East, including Iran and Saudi Arabia, the two regional rivals, in an attempt to defuse the worsening crises in the region through dialogue.

20 Dec 2022; MEMO: Israeli Defence Minister Benny Gantz called yesterday for taking advantage of the current unrest in Iran to put serious pressure on the government for a new and improved nuclear agreement, Maariv has reported. Gantz made his comment at the opening of the annual Jewish Media Summit organised by the Israeli Government Press Office attended by more than 100 Jewish journalists from all over the world.

20 Dec 2022; MEMO: Algeria's non-oil exports exceeded $6 billion in the period between the beginning of the year and the end of November, the highest achievement in the country's history since its independence from France in 1962, Trade Minister Kamal Rizik said yesterday.

Rizik's remarks came on the sidelines of the launch of the Algerian Production Exhibition, which will take place in the capital until 24 December, Anadolu Agency reported.

19 Dec 2022; MEMO: Iranian Foreign Minister Hossein Amir-Abdollahian said on Monday that his country is ready to resume relations with Saudi Arabia "when Riyadh is willing to", reports Anadolu Agency.

"Tehran is ready to resume diplomatic ties with Riyadh, reopen embassies," Amir-Abdollahian told the Tehran Dialogue Forum.

18 Dec 2022; MEMO: The International Monetary Fund early Saturday approved a $3 billion loan for Egypt under a 46-month program.

In a statement, the IMF said the arrangement under the Extended Fund Facility (EFF) includes the immediate disbursement of $347 million.