LONDON: Egypt’s economy has received a major boost since gas from Zohr, the Mediterranean’s largest offshore field, began to be pumped ashore in Port Said city at the end of last year.
Zohr is one of the most positive energy stories to hit the Middle East recently and a boon to Egypt in particular as the development by Italian operator ENI means the country is close to reaching gas self-sufficiency.
Zohr should wipe out the need for Egypt to buy in expensive foreign gas, thereby bolstering its depleted foreign exchange reserves, and could one day make the country a net exporter to countries throughout the region and, perhaps, beyond.
Mohamed Abu Basha, Cairo-based economist at investment bank EFG-Hermes, told Bloomberg: “One of the biggest issues Egypt had over the past years was the big shift in its energy balance from a net exporter to a net importer because of an increase in consumption versus a decline in production.
“With the new gas finds, it’s returning to this balance, if not exporting, then at least there’s no deficit,” he added.
Egyptian Oil Minister Tarek El-Molla has said initial production will be 350 million cubic feet per day, rising to 1 billion cubic feet in June and 2.7 billion by the end of 2019.
Egypt had to give up gas exports in 2014 to meet local demand and because sporadic sabotage on its main pipeline in the Sinai Desert disrupted shipments.
Zohr, with an estimated reserve of about 850 billion cubic meters of natural gas in place, is expected to close the gap between supply and demand, helping to end Egypt’s reliance on imported liquefied natural gas (LNG) next year, Bloomberg reported.
The offshore field is expected to save Egypt some $1 billion annually in gas imports.
Egypt has two LNG plants, which are more or less mothballed, from which to export once production is ramped up.
In a recent statement, BP said: “The development of Zohr in a record time has brought a new critical source of energy to the Egyptian market.”
BP added that two other current major projects in Egypt — Atoll and the second phase of the West Nile Delta project — will bring further new gas resources into production. “Together these projects will play an important role in supporting and reshaping Egypt’s energy sector.”
Russia’s state-owned producer Rosneft PJSC closed a deal in October to acquire 30 percent of the Zohr field. BP has also bought a 10 percent stake.
An International Monetary Fund report on Dec. 20 said Egypt’s reform program was yielding encouraging results.
The IMF said: “The economy is showing welcome signs of stabilization, with GDP growth recovering, inflation moderating, fiscal consolidation remaining on track, and international reserves reaching their highest level since 2011.”
The banking system was said to remain resilient to moderate shocks, but although the outlook was viewed as favorable, the IMF said sustained efforts were still required to “maintain prudent policies and advance structural reforms to support the authorities’ medium-term objective of inclusive growth and job creation.”
Zohr gas field fires up the Egyptian economy
Zohr gas field fires up the Egyptian economy
KSrelief, Saudi Esports Federation donate $1.7m to UNICEF to boost children’s education in Burkina Faso
- John Agbor: Thanks to the generous contribution of KSrelief and SEF, thousands of children will benefit from formal and non-formal education, vocational training and radio-based learning
- Funds will support preschool education for 4,500 children, formal and non-formal education for 16,700 children, and technical innovations for 6,600 children
RIYADH: The Saudi Esports Federation, through the Gamers Without Borders tournament — the largest virtual charity event for gaming and esports — in collaboration with Saudi aid agency KSrelief, donated over $1.7 million to UNICEF’s office in Burkina Faso.
The grant aims to provide formal and non-formal education to more than 27,800 children, 50 percent of whom are girls, in areas affected by insecurity.
John Agbor, UNICEF representative in Burkina Faso, said: “Thanks to the generous contribution of KSrelief and Saudi Esports Federation, thousands of children will benefit from formal and non-formal education, vocational training and radio-based learning.”
The funds will support preschool education for 4,500 children, formal and non-formal education for 16,700 children, and technical innovations for 6,600 children in the Central-North, North, East, Sahel, and Boucle du Mouhoun regions.
As of December 2024, the humanitarian situation in Burkina Faso remains difficult, with over 2 million displaced due to conflict.
Despite the government’s efforts to reopen more than 1,500 schools, over 5,000 remain closed, affecting 20 percent of the country’s educational institutions.
In one year, primary school enrollment rates in Burkina Faso dropped from 85.8 percent in 2022 to 77.4 percent in 2023.
With KSrelief and the Saudi Esports Federation’s support, UNICEF has launched several initiatives, including building and equipping 27 classrooms, creating more than 100 accelerated learning centers for out-of-school children, and planning vocational training for 500 boys and girls.
Other initiatives aim to reach 6,000 children through emergency classrooms and 600 children via remote learning with tablets, as well as increase radio-based learning and provide school supplies for vulnerable children.
Kuwait’s eighth aid plane to Syria arrives at Damascus Airport
- Al-Salam charity’s support in line with instructions of the Kuwaiti political leadership to help Syrians
LONDON: Kuwait sent its eighth aid plane to Syria on Monday with 10 tonnes of food and essential supplies to help Syrians cope with the harsh winter.
It was part of the Kuwait Is By Your Side campaign launched by the Al-Salam Association charity, in coordination with the ministries of Social Affairs, Foreign Affairs, and Defense.
The aircraft landed at Damascus International Airport carrying food aid and winter supplies, including blankets and heavy clothing.
The volume of Kuwaiti aid sent to Syria since last December has reached 200 tonnes of various relief materials, including food and medicine, in cooperation with the Syrian Arab Red Crescent organization.
Hamad Al-Oun, the general manager of Al-Salam, told Kuwait News Agency that another aid plane was set to depart for Syria next Thursday as part of the association’s initiative.
Al-Salam’s support was in line with the instructions of the Kuwaiti political leadership to help those in need in Syria, he added.
Xi emphasizes China’s unwavering support for Lebanon sovereignty
- Xi Jinping said that China will provide assistance to the Lebanese in terms of economic development
- Israeli forces intensify activity in the south five days before withdrawal deadline
BEIRUT: Lebanon’s President Joseph Aoun received a written message from Chinese counterpart Xi Jinping on Monday, who affirmed his “readiness to work with Lebanon to develop the friendly relations between the two countries and to support cooperation in a way that better serves both peoples.”
The Chinese premier emphasized in the message, delivered by the Chinese Ambassador to Lebanon Qian Minjian, “the unwavering support of his country for Lebanon in maintaining its sovereignty and territorial integrity, as well as providing assistance to the Lebanese side in economic development and improving the living conditions of its people.”
Forming the first government under Aoun remains a subject of consultations between the designated Prime Minister Nawaf Salam, and the relevant parties.
Aoun has said “the swift formation of the government sends a positive signal to the outside world that Lebanon is on the right track.”
Israel, meanwhile, continued demolishing homes and infrastructure in several border areas of Lebanon.
Israeli tanks and bulldozers blocked the Wadi Saluki road on Mondah, which connects the border towns of Bani Hayyan and Qabrikha.
An Israeli tank stationed itself in the town of Tallousa, prompting the Lebanese Armed Forces to postpone redeployment in the town.
The Israeli activity has escalated five days before the expiration of the 60-day deadline for a complete withdrawal from the southern border area under the ceasefire agreement.
Israeli forces also bulldozed a cemetery in the town of Dhayra and uprooted trees in its vicinity.
Troops also advanced to Mays Al-Jabal, demolishing industrial and sports facilities, farms, and roads with bulldozers.
The Israeli military conducted an extensive sweep operation in the town of Khiam, setting properties on fire, with smoke rising in the area.
Three Lebanese farmers were arrested between Ain Arab and Wazzani, while artillery shelling targeted the Sadana area in the Shebaa Farms and the outskirts of Kafr Shuba.
Meanwhile, the Lebanese military reinforced its units in the city of Bint Jbeil, repositioning in Al-Dora area in the direction of the border town of Yaroun.
It established a presence at 10 sites along the main and secondary roads from Bint Jbeil to Yaroun, Maroun Al-Ras, and Aitaroun, areas where Israeli forces are still present.
Lebanese Army Command announced that “some units are continuing to reinforce their deployment in the towns of Ain Ebel, Dibel and Rmeish, the Bint Jbeil area in the western sector, and the towns of Bint Jbeil and Ainatha in the central sector, following the withdrawal of the Israeli forces.”
The operation was being conducted in coordination with UNIFIL and the Quintet Committee, which is supervising the implementation of the ceasefire agreement.
The Army Command said specialized units were conducting engineering surveys, clearing roads, removing debris, and addressing unexploded ordnance and suspicious objects left behind by Israel.
The Lebanese Army prohibited citizens from approaching the area, urging them to “adhere to the instructions of military units until the deployment is completed.”
The municipality of Bint Jbeil has urged residents to delay their return to the city and the town of Ainata.
Civil defense teams are still working to retrieve the bodies and remains of Hezbollah fighters killed during clashes with the Israeli army in advanced positions in the south.
Remains were retrieved in Khiam, and a body was recovered in the town of Maroun Al-Ras.
The General Directorate of General Security, meanwhile, warned citizens in a statement on Monday of “the dangers of interacting with the SAWA page on Facebook, as it is likely linked to Mossad and aims to recruit Lebanese citizens to work for it.”
Last Friday, the Lebanese Army announced “the arrest of a Lebanese citizen from the southern town of Beit Lif on suspicion of being recruited by Israeli Mossad through Facebook.”
Security information indicated that the suspected agent “headed to Israel with the help of an Israeli drone that hovered above him and guided him to the path leading to crossing the Lebanese border. His mission involved photographing Hezbollah sites in exchange for monetary payments.”
A Lebanese person from the town of At-Tiri, who is a former combat medic for Hezbollah and served as a nurse at the party’s Al-Rasoul Al-Azam Hospital, was previously arrested after being recruited by Mossad through Facebook.
Indian police volunteer gets life sentence for shocking rape, murder of junior doctor
- The woman’s body was found in a classroom at the state-run R G Kar Medical College and Hospital, where she worked, on Aug. 9
- Her parents had earlier said that they were not satisfied with the probe and suspected more people were involved in the crime
KOLKATA: An Indian court handed down a life sentence on Monday to a police volunteer convicted of the rape and murder of a junior doctor at a hospital in the eastern city of Kolkata, rejecting demands for the death penalty saying it was not a rare crime.
The woman’s body was found in a classroom at the state-run R G Kar Medical College and Hospital, where she worked, on Aug. 9. Other doctors stayed off work for weeks to demand justice for her and better security at public hospitals, as the crime sparked national outrage over a lack of safety for women.
Sanjay Roy, the police volunteer, was convicted on Saturday by judge Anirban Das, who said circumstantial evidence had proved the charges against Roy. On Monday, Roy, who denied the charges, said he had been framed and sought clemency.
The federal police, who investigated the case, said the crime belonged to the “rarest-of-rare” category and Roy, therefore, deserved the death penalty.
But the judge disagreed, saying that he had come to the conclusion after considering all the evidence and the circumstances linked to it.
“I do not consider it as a ‘rarest-of-rare’ crime,” Judge Das said as he sentenced Roy to life in jail on both the counts of rape and murder. “Life imprisonment, meaning imprisonment until death.”
Senjuti Chakrabarty, a lawyer for Roy, said the defense would appeal to a higher court and seek Roy’s acquittal.
The sentence was announced in a packed courtroom as the judge allowed the public to witness proceedings. The speedy trial in the court had not been open to the public.
The parents of the junior doctor were among those in court. Security was stepped up with dozens of police personnel deployed at the court complex.
JUNIOR DOCTORS PROTEST
The parents had earlier said that they were not satisfied with the probe and suspected more people were involved in the crime.
Their lawyer, Amartya Dey, told Reuters that they had sought the death penalty for Roy and also demanded that those involved in what they called the “larger conspiracy” be brought to book.
“The appeal court is open for us ... let us get a copy of the judgment, we can then discuss it further,” Rajdeep Haldar, another lawyer for the parents, said.
A group of junior doctors and others demonstrated outside the court, demanding a harsher sentence for Roy. “We want justice. We want to know the other conspirators,” they said.
Mamata Banerjee, chief minister of West Bengal of which Kolkata is the capital, said the state government run by the regional Trinamool Congress party was “not happy” with the sentence as it had demanded the death penalty.
“Life imprisonment ... is a travesty of justice,” said Amit Malviya, a senior member of Prime Minister Narendra Modi’s Bharatiya Janata Party that rules at the federal level.
“The verdict must be appealed. Justice must not only be done but must also be seen to be done,” he posted on X. India’s federal police cited 128 witnesses in its investigation, of whom 51 were examined during the fast-tracked trial that began in November.
Police had also charged the officer heading the local police station and the head of the college at the time of the crime with destruction of the crime scene and tampering with evidence.
The police officer is out on bail while the former head of the hospital remains in detention in connection with separate allegations of financial irregularities at the hospital.
Riyadh Season to sponsor 2025 Drone Racing World Cup in Saudi Arabia
Turki Alalshikh, chairman of the General Entertainment Authority, has announced Riyadh Season’s sponsorship of the 2025 Drone Racing World Cup, which will be hosted by Saudi Arabia from Jan. 23 to 25. The event is organized by the Saudi Federation for Cybersecurity, Programming, and Drones, in collaboration with the International Air Sports Federation.
The tournament, set to take place in the Boulevard City, will feature elite pilots from over 50 countries competing in thrilling races with speeds reaching 350 km/h. Winners will take home prizes exceeding SR1 million ($266,530).
This marks the inaugural championship of the Drone Racing World Cup series, which consists of rounds held in leading drone racing nations. Titles are awarded based on the best three results throughout the year.
Saudi Arabia is hosting the championship for the first time this year, following the previous edition held in South Korea last October. The 2025 series will also include rounds in countries such as South Korea, Italy, Germany, Spain, and Sweden.
Launched in 2016, the Drone Racing World Cup has captivated audiences worldwide with its exciting combination of emerging technology and sports.
Saudi Arabia’s hosting of this global event reflects its commitment to leadership in electronic sports and offers a golden opportunity for Saudi competitors to shine on an international stage.
Riyadh Season continues to present a wide array of events and entertainment options catering to diverse interests within the community.
