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
Pakistan eyes trade corridors with Belarus to enhance access to Central Asia, Europe
- Communications Minister Abdul Aleem Khan arrives in Minsk on two-day visit to bolster trade, investment ties
- Khan to sign new MoUs during visit, state-run media says amid Islamabad’s push for sustainable economic growth
ISLAMABAD: Communications Minister Abdul Aleem Khan on Thursday stressed the importance of creating trade corridors between Pakistan and Belarus, state media reported, noting that they could be instrumental in helping both countries access markets in Central Asia and Europe.
Pakistan and Belarus have moved closer to foster stronger trade and economic cooperation in recent months. Both countries marked 30 years of diplomatic ties last year. Belarus’s prime minister visited Islamabad in October 2024 to meet key Pakistani civilian and military officials to bolster economic cooperation.
Khan arrived in Minsk on an official two-day visit to the country on Thursday. He met Belarusian Minister of Energy Denis Moroz and the country’s Transport Minister Alexei Lyakhnovich, state-run Associated Press of Pakistan (APP) reported.
“He emphasized the importance of creating trade corridors between the two countries which could play a key role in facilitating access to Central Asian States through routes in Pakistan, China, Afghanistan, or Iran, ultimately opening up pathways to Eastern Europe,” APP reported.
“Abdul Aleem Khan stated that these infrastructure projects would also be a strategic milestone.”
Khan highlighted the potential for “significant improvement” in the communications sector between both countries during his meeting with Belarusian ministers, APP said.
It said the Pakistani minister is being hosted as a state guest in the eastern European country. He will have the opportunity to sign several new memoranda of understanding (MOUs) during his trip, APP said.
Pakistan and Belarus agreed to boost cooperation in industry, media, tourism and other economic sectors during the eighth session of the Pakistan-Belarus Joint Ministerial Commission on Trade and Economic Cooperation held in February this year.
Islamabad has aggressively pushed for trade and investment ties with regional allies such as China, Saudi Arabia, United Arab Emirates, Central Asian countries and others recently in its bid to escape a prolonged macroeconomic crisis.
Pakistan has signed MoUs worth billions of dollars with businesses and entities in China, Saudi Arabia, UAE, Azerbaijan and other countries since last year to ensure sustainable economic growth driven by increasing exports and financial reforms mandated by the International Monetary Fund (IMF).
Jordan’s King Abdullah meets Bulgarian president in Sofia to discuss Middle East security
- King praised Bulgaria’s contributions to regional stability through its NATO and European Union membership
- Both leaders stressed the urgent need to reinstate a ceasefire in Gaza
LONDON: King Abdullah II of Jordan met with Bulgarian President Rumen Radev in Sofia on Thursday, where the two leaders discussed strengthening relations and addressing key challenges in the Middle East region.
During the expanded meeting at the Presidential Palace, King Abdullah emphasized Bulgaria’s important role in hosting the latest round of the Aqaba Process meetings in partnership with Jordan.
He noted that the discussions were particularly relevant given the current global security landscape, Jordan News Agency reported.
The king praised Bulgaria’s contributions to regional stability through its NATO and European Union membership, highlighting the alignment of views between the two nations on shared geopolitical challenges.
He also underscored the importance of fostering deeper cooperation and understanding between Jordan and Bulgaria.
Radev also stressed the significance of the Aqaba Process meetings in tackling critical security issues such as counterterrorism and radicalization, which are pressing concerns in both the Balkan region and the Middle East.
Reflecting on more than six decades of Jordan-Bulgaria relations, Radev praised the strategic partnership built between the two countries and also acknowledged Jordan’s leading role in advancing peace and stability in the Middle East, emphasizing the shared responsibility of both nations in promoting regional security.
The Bulgarian president lauded Jordan’s efforts to push for an end to the conflict in Gaza, while also continuing humanitarian aid delivery, and advocating for a political resolution.
He reaffirmed Bulgaria’s support for resolving the Palestinian-Israeli conflict through a two-state solution.
Both leaders stressed the urgent need to reinstate a ceasefire, facilitate humanitarian aid, and de-escalate tensions in the West Bank.
Deputy Prime Minister and Foreign Minister Ayman Safadi and Jordan’s ambassador to Bulgaria, Mutaz Khasawneh, also attended the meeting.
Upon his arrival in Sofia, King Abdullah was welcomed with an official ceremony at Alexander Nevsky Square, where he laid a wreath at the Monument to the Unknown Soldier.
University of Birmingham students facing disciplinary hearing over pro-Palestine activism
- Student Antonia Listrat: ‘Funding genocide is violent; protesting genocide is peaceful’
- Legal rights group sounds alarm over ‘nationwide crackdown’ on solidarity with Palestinians
LONDON: Two pro-Palestine students at the UK’s University of Birmingham are facing disciplinary proceedings over their activism, with a major legal rights group sounding the alarm over a “nationwide crackdown” on solidarity with the Palestinian people.
The European Legal Support Centre submitted legal documents to the university’s misconduct panel on behalf of the two students, Mariyah Ali and Antonia Listrat.
Amid the war in Gaza and sweeping pro-Palestine solidarity at institutions across the UK, the two students had demanded that their university divest from arms companies supplying the Israeli military.
Ali and Listrat face a disciplinary hearing on April 7, with the ELSC urging the university to dismiss the proceedings.
Coventry MP Zarah Sultana labeled the university’s move “an assault on democratic rights,” while the decision was questioned by UN Special Rapporteur Gina Romero, who highlighted “harassment, intimidation and reprisals” against the students at the university.
The pair have been supported by the university’s student body, which elected Listrat as guild president and Ali as ethnic minorities officer.
Ali said: “The disciplinary process against Antonia and me is a blatant attempt to suppress dissent and silence the wider student movement.
“This authoritarian crackdown is not just an attack on our right to protest — it is a display of institutional Islamophobia and bureaucratic repression.
“The student movement for Palestine is stronger than ever. Instead of charging students, the University of Birmingham must focus on divesting from companies complicit in genocide and war crimes.”
The student union also passed a motion supporting pro-Palestine solidarity that was subsequently blocked by union trustees.
By taking punitive measures against the students, the university is “contradicting the democratic will of students,” the ELSC said.
Anna Ost, the center’s senior legal officer, added: “We are deeply concerned that the university’s intention and effect in targeting these two students is to dissuade the wider university community from speaking out for Palestine.
“The university needs to change its approach, drop the disciplinaries, and demonstrate that fundamental freedoms are still promoted on its campus.”
The targeting of the students is part a wider crackdown on pro-Palestine activism across the UK in the wake of Israel’s war in Gaza.
Since October 2023, at least 28 universities across the UK have disciplined more than 113 students for activism, a joint investigation by Sky News and Liberty Investigates found.
The ELSC warned that the campus crackdowns, which have involved police and private security, is creating a “chilling effect” that “sets a dangerous precedent for campus democracy.”
British universities are legally bound to protect freedom of expression under the education and human rights acts, it added, warning that the University of Birmingham is “violating these obligations by penalizing students for their political beliefs.”
The center called on the university to dismiss the charges against the students and uphold freedom of speech, expression and assembly on campus.
Listrat said protesting is “an integral part of campus life” that signifies a “healthy and progressive society.”
She added: “As far-right rhetoric rises throughout the world, we need to make a huge effort to protect our rights and uphold international law and morality.
“Enabling genocide and profiting from human rights violations is quite a violent stance that the University of Birmingham has taken. Funding genocide is violent; protesting genocide is peaceful.”
German military to order exploding drones for first time, sources say
- Russia and Ukraine have fielded such single-use drones
- The procurement of armed drones has been controversial in Germany
BERLIN: The German military will be armed with loitering munitions, or exploding drones, for the first time, two defense ministry sources said on Thursday, as Berlin tries to catch up with a technology that has shown its destructive power in Ukraine.
Both Russia and Ukraine have fielded such single-use drones, which cruise toward their target before plummeting at velocity and detonating on impact.
But the procurement of armed drones has been controversial in Germany, with some politicians associating them with targeted extrajudicial killings by US forces in Afghanistan.
It took years of heated debate before parliament agreed in 2022 to enable a large drone such as the Heron TP, which flies at much higher altitudes, to carry arms.
However, military upgrades are more urgent now for Germany, amid the continuing war between Russia and Ukraine and doubts about the future of US military protection.
Last month, parliament approved plans for a defense spending surge worth hundreds of billions of euros.
Contracts with two companies for a first batch of exploding drones will be signed in the coming days, the sources said, declining to name the companies. The army, air force and navy will test them in the following months.
“The use of drones and the defense against drones is crucial for the survival of our troops on the modern battlefield, that’s something we learned in Ukraine,” said one of the sources, who spoke on condition of anonymity.
“Each soldier must be capable of operating drones, just as today, everybody knows how to use binoculars.”
Germany will aim to sign longer-term contracts by the end of the year for a larger number of drones, shortening the period for introducing new weapons which usually takes years.
As drone technology evolves rapidly, the deals will specify that companies supply a limited number initially for training purposes, and that they may be asked later to supply a larger number of the latest models at short notice, if needed.
“There’s no use in purchasing thousands of drones ... only to realize they are outdated by the time we need them,” one of the sources said.
Appeal in Algeria against jail term for writer Sansal
- Sansal is known for his criticism of Algerian authorities as well as of Islamists
- Sansal was arrested in November and stood trial for undermining Algeria’s territorial integrity
ALGIERS: The prosecutor’s office in Dar El Beida near Algiers has appealed against a five-year jail sentence imposed on French-Algerian writer Boualem Sansal, the Algiers bar association told local media.
Sansal, whose case has been at the heart of a diplomatic storm with France, is known for his criticism of Algerian authorities as well as of Islamists.
“Boualem Sansal and the prosecutor’s office appealed the day before Eid Al-Fitr,” marking the end of the month of Ramadan, which was celebrated Monday in Algeria, said Mohamed Baghdadi, an article on the TSA website said.
The writer’s French lawyer Francois Zimeray told AFP on Wednesday that Sansal had appealed, but that this did not prevent him from being pardoned if the appeal was withdrawn.
Sansal was arrested in November and stood trial for undermining Algeria’s territorial integrity, after saying in an interview with a far-right French media outlet that France unfairly ceded Moroccan territory to Algeria during the colonial era.
The statement echoed a long-standing Moroccan claim, and was viewed by Algeria as an affront to its national sovereignty.
On March 27, a court in Dar El Beida sentenced him to a five-year prison term and fined him 500,000 Algerian dinars ($3,730).
According to his French publisher, Sansal is 80 years old.
On Monday, French President Emmanuel Macron urged his Algerian counterpart Abdelmadjid Tebboune to show “mercy and humanity” toward Sansal.
Baghdadi was quoted by TSA as saying that a pardon is “only possible once the final sentence” is pronounced.
“The case can be judged quickly” and a pardon granted afterwards, Baghdadi added, emphasising that Tebboune is “sovereign in his decisions.”
The date for the appeal has not yet been set, according to TSA.
Sansal’s conviction and sentence further frayed ties between Paris and Algiers, already strained by migration issues and Macron’s recognition last year of Moroccan sovereignty over the disputed territory of Western Sahara, which is claimed by the Algeria-backed pro-independence Polisario Front.
