Author: Editor
During a conference in Tunisia this weekend, Japan will pledge $30 billion in aid for African development, the Sankei Shimbun reported on Friday. During the Tokyo International Conference on African Development (TICAD), Prime Minister Fumio Kishida will announce the aid, focusing on the development of human resources and promoting economic growth. Due to his recovery from COVID-19, Kishida will participate in the conference virtually, the paper said. On Wednesday, a Japanese foreign ministry official said the summit will cover topics such as food security for Africa, climate change, and environmentally friendly businesses. It is the first TICAD held since 2019…
According to a report by Middle East News Agency, the Central Bank of Egypt (CBE) has decided to remove the maximum limits on cash deposits for individuals and businesses at bank branches as well as through ATMs as part of a plan to reduce inflation. In order to prepare for the global economic impact of the COVID-19 crisis, the bank set a maximum limit on cash deposits as part of its measures to face the crisis. In a statement, the apex bank said that the cancellation came in light of a declining Coronavirus infection rate. It also said that the…
According to the World Health Organization (WHO), the world has crossed the tragic milestone of 1 million reported COVID-19 deaths so far this year. We cannot say we are learning to live with COVID-19 when 1 million people have died from COVID-19 this year alone, when we are two-and-a-half years into the pandemic and have all the tools necessary to prevent these deaths, said WHO Director-General Tedros Adhanom Ghebreyesus in his opening remarks at the COVID-19 media briefing. Once again, we request all governments to intensify their efforts to vaccinate all health workers, older people and others at the highest…
A meeting was held in Athens between the UAE President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, and Katerina Sakellaropoulou, the President of the friendly Republic of Greece. At the beginning of the meeting, which took place at the Presidential Palace, President Katerina Sakellaropoulou welcomed Sheikh Mohamed and congratulated him on becoming the President of the UAE. She hoped that his visit would enhance friendship and cooperation between the two friendly countries and their people. Sakellaropoulou said that Greece considers the UAE to be a strategic partner, adding that both countries are committed to peace, security, and prosperity in…
The South Korean government announced that a subsidiary of theirs had won an order worth $2.2 billion from the Egyptian government. This is for the construction of the country’s first nuclear power plant. El-Dabaa Nuclear Power Plant will be delivered and constructed by Korea Hydro & Nuclear Power Co., a subsidiary of Korea Electric Power Corp., which is 51% owned by the Korean government and banks. A subsidiary of Russia’s state nuclear company Rosatom will build the reactors. Additional facilities will be constructed by the South Korean company. In 2028, the first unit will begin commercial operations. Moreover, this will…
Starting on 1 December, Emirates will restore non-stop A380 service between Auckland and Kuala Lumpur. As of now, the airline operates Boeing 777-300ERs from Kuala Lumpur to Auckland. The A380 flights will delink both cities and provide direct services to and from Dubai. Customers will benefit from enhanced flexibility and more seat availability with the airline’s updated schedule. Also, Emirates’ network will be expanded with the newly introduced services. Delinking of services will reduce transit times and result in faster connections throughout Europe, the Middle East, and South Asia. In addition to being the longest non-stop scheduled service in the…
A total of three people have been confirmed dead as a result of the onslaught of severe tropical storm Florita (Ma-on), according to the National Disaster Risk Reduction and Management Council (NDRRMC). According to the Philippine News Agency (PNA), the agency said the number includes one from Ilocos Region while the other from the Cordillera Administrative Region (CAR). In the meantime, it has been confirmed that three people were injured in the Cagayan Valley. Reports of another Bicol death and an injured Bicol person, which are still being validated, have been received. It is estimated that approximately 1,726 families or…
An initial meeting of the Abu Dhabi Blockchain and Virtual Assets Committee (ADBVAC) was held under the chairmanship of Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED) and Chairman of the Securities and Commodities Authority (SCA) to discuss the Emirates’ economic strategy for blockchain and virtual assets. To comply with international and local rules and regulations regarding anti-money laundering/countering terrorist financing (AML/CFT), the committee highlighted the importance of regulating blockchain and virtual asset activities. By creating a secure, transparent, and safe environment, Abu Dhabi will be able to build trust and attract more companies.…
In a global wave of monetary tightening, the Bank of Japan needs to maintain massive stimulus to support an economy facing a resurgence of COVID-19 infections and slowing global demand, one of its board members said. On Thursday, BOJ board member Toyoaki Nakamura said lingering supply constraints, rising commodity prices, and a renewed spike in pandemic cases clouded the outlook for Japan’s economy. Nakamura said market nervousness over aggressive interest rate hikes by major central banks could also hurt global growth by pushing capital out of emerging economies. According to him, such risks, along with Japan’s negative output gap, justify…
In a high-risk test flight next week, NASA’s long-awaited moon rocket makes its debut years late and billions over budget. 50 years after NASA’s famed Apollo moonshots, a 322-foot rocket will launch a crew capsule into a far-flung lunar orbit. NASA aims to land two people on the moon by the end of 2025 if all proceeds well in the next few years. Astronauts could strap in as soon as 2024 for a trip around the moon. From NASA’s Kennedy Space Center, liftoff is scheduled for Monday morning. NASA officials warn that the six-week test flight is risky and could…