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Business & Economy

Tunisia dinar falls to record low against dollar

30 Sep 2022; MEMO: Central Bank of Tunisia data showed yesterday that the Tunisian dinar fell to a record low against the US dollar, causing concerns about a possible decline in foreign exchange reserves and rise in inflation, Reuters reports.

The annual inflation rate in Tunisia increased to 8.6 per cent in August, the highest level in nearly three decades.

The central bank said on Wednesday the dinar was trading at 3.309 dinars for the dollar, down by 17.5 per cent from its level a year ago.

Jordan raises price of diesel and kerosene and lowers price of gas

1 October 2022; MEMO: The Jordanian government announced, on Friday, the adjustment of oil derivatives prices, lowering the price of octane 90 and 95 gasoline by 60 fils ($0.08) and raising the price of diesel and kerosene by 35 fils ($0.05) for October.

According to a statement issued by the Ministry of Energy and Mineral Resources, the oil derivatives pricing committee decided to lower the price of octane 90 and 95 gasoline after applying the pricing equation to the price of gasoline according to global prices.

Qatar expects $9bn in profits from World Cup

29 Sep 2022; MEMO: The CEO of the Qatar World Cup, Nasser Al-Khater, said he expects to reap profits of up to $9 billion from organising the 2022 World Cup.

During an interview with the Baad Ams (After Yesterday) podcast on Al Jazeera on Tuesday, Al-Khater said that the cost of the World Cup projects and expenses amount to about $8 billion, adding that this is less than previous tournaments held in Brazil and Russia.

US imposes new sanctions on Iran oil exports; targets Chinese firms

30 Sep 2022; MEMO: The United States, on Thursday, imposed sanctions on companies it accused of involvement in Iran's petrochemical and petroleum trade, including some based in China and India, pressuring Tehran as it seeks to revive the 2015 Iran nuclear deal, Reuters reports.

Algeria inflation rate rises to 9.6%

29 Sep 2022; MEMO: The inflation rate in Algeria increased to 9.6 per cent at the end of August, amid the rise in the prices of basic commodities globally and its impact on local markets, Anadolu reported.

Deputy Director-General of the Algerian National Office of Statistics, Hamid Zaydouni, revealed the rate during a hearing at the Finance Committee of the People's National Assembly.

The Algerian market recorded an inflation rate of 7.23 per cent during 2021, the highest in nearly three years.

Turkey: Economists from around the world converge on Istanbul to discuss global economic shifts

29 Sep 2022; MEMO: An International Economic Summit featuring experts from across the world began in the Turkish metropolis, Istanbul, on Thursday to discuss the major shifts that have hit the global economy in recent years, Anadolu News Agency reports.

Israel lifts ban on sale of Gaza fish in West Bank

29 Sep 2022; MEMO: Palestinian fishermen in Gaza have started to send fish to the occupied West Bank, after Israel lifted the fishing ban recently.The ban on fishing and selling fish had been in place for about one and a half months, since Israel's last attack on Gaza on 5 August. Although the ban was lifted, the amount of fish being exported was limited to 13 tonnes, from 100 tonnes before the Israeli aggression. While exports can now only take place once a week, down from two previously.

Putin faults West's 'predatory policies' for global food crisis

27 Sep 2022; MEMO: The global food crisis is a result of the West's "predatory policies," Russia's President, Vladimir Putin, said on Tuesday, Anadolu News Agency reports.

"The West is provoking a global food crisis … The cost of food on the world market has returned to the levels of the beginning of the year, but it is still 40 per cent higher than in 2020," Putin said at a meeting in Sochi, on Russia's agriculture sector.

Jordan, Syria, Iraq, Lebanon agree to boost food security cooperation

27 Sep 2022; MEMO: The agriculture ministers of Jordan, Lebanon, Iraq and Syria have agreed to support an initiative to boost food security in the region.

According to the Jordan News Agency (Petra), Jordanian Agriculture Minister, Khalid Hneifat, yesterday held a meeting with his Syrian counterpart, Muhammad Qatna, Iraqi Minister, Muhammad Khafaji and Lebanese Minister, Abbas Hajj Hassan, in which they discussed the need to resolve issues surrounding the region's food security amid worsening global events.

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