IMF's Georgieva says Mideast growth to slow in 2024 on oil cuts, Gaza, ET EnergyWorld
AdvtAdvtJoin the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Georgieva said economies neighbouring Israel and the Palestinian territories saw the conflict weighing on tourism revenues, while Red Sea attacks weighed on freight costs globally.Those factors compounded "the challenges of economies that are still recovering from previous shocks," she told the forum on the sidelines of the World Governments Summit in Dubai.The Iran-aligned Houthis in Yemen have been targeting commercial vessels with drones and missiles in the Red Sea since mid-November, and say their attacks are in solidarity with Palestinians as Israel strikes Hamas militants in Gaza. But the U.S. and its allies characterize them as indiscriminate and a menace to global trade.Several global shippers have been diverting traffic to the Cape of Good Hope, a longer route than through Egypt's Suez Canal.Egypt's Finance Minister Mohamed Maait told Reuters on the sidelines of the summit that part of the impact of the diversion on Suez Canal revenues could be absorbed due to good growth in "the period before the events. "The IMF will publish on Monday a paper that shows phasing out energy subsidies could save $336 billion in the Middle East, equivalent to the economies of Iraq and Libya combined, Georgieva said.Georgieva said that eliminating regressive energy subsidies also "discourages pollution, and helps improve social spending. "In the Middle East and North Africa (MENA) region, fossil fuel subsidies made up 19% of GDP in 2022, the IMF has said.It has recommended the gradual unwinding of energy subsidies for the region's economies, including oil exporters, and suggested targeted support as an alternative.Advanced technology, including Artificial Intelligence , is a key theme of focus at the World Governments Summit, with several top executives from major global tech firms due to speak, including Sam Altman , CEO of OpenAI.Georgieva said globally, 40% of jobs are exposed to AI, and countries that lack the infrastructure and a skilled workforce to invest could fall behind.Regional economies such as the UAE and Saudi Arabia have significantly increased investment in AI as part of strategies to diversify income sources.
Source:The North Africa Journal
February 12, 2024 07:44 UTC
Europe’s Oil Demand Is Lifting Prices in West Africa and the North Sea
Bloomberg SurveillanceJonathan Ferro, Lisa Abramowicz and Annmarie Hordern have the economy and global markets "under surveillance". Their daily conversations with leaders and decision makers from Wall Street to Washington and beyond cover the latest in business, investment, and geopolitics. No other program better positions investors and executives for the trading day.
Source:The North Africa Journal
February 12, 2024 07:35 UTC
Middle East latest: Biden reportedly insults Netanyahu in private; Israeli troops 'shielded hostages with their bodies' in rescue
The US president has been urging Israel to agree to a ceasefire, but those familiar with the conversations said Mr Netanyahu has been "giving him hell" and is difficult to deal with. Yesterday, Mr Biden warned Mr Netanyahu against sending troops into Rafah without a "credible" plan for protecting civilians. Mr Netanyahu vowed to press ahead with an expected ground offensive. Mr Biden also described Israel's bombardment of Gaza as "over the top" last week. But despite his private shows of contempt for Mr Netanyahu, the US president is reluctant to come down too hard on him publicly.
Source:The North Africa Journal
February 12, 2024 07:23 UTC
More than 170 Territories to show the TotalEnergies CAF Africa Cup of Nations Cote d’Ivoire 2023 Grade Finale Tonight
Top International Broadcasters to broadcast Final of the AFCONAFCON Cote d’Ivoire sets new TV audience recordsKick-off at 20h00 GMTMore cameras than ever before to give viewers unforgettable experienceAfrica’s biggest event, TotalEnergies CAF Africa Cup of Nations Cote d’Ivoire 2023 wraps up tonight with the grand finale between hosts, Cote d’Ivoire and Nigeria at the Alassane Ouattara Stadium in Ebimpe at 20h00 GMT. The decisive match will be televised in 173 territories globally, making it by far the most-watched AFCON in the history of the competition and once again re-affirming the competition’s global appeal. The Final will be beamed in 54 African countries, majority of Europe, Asia, Middle East, South America, North America, the Caribbean and South Pacific. Leading the global broadcasters are CAF’s traditional partners, beIN Sport (MENA, Europe, America, South Pacific), Canal+ and New World TV. Host nation Cote d’Ivoire and Nigeria will be hoping to add to their trophy haul when they face each other for the second time in the competition.
Source:The North Africa Journal
February 11, 2024 19:08 UTC
Hands off Hugo: North Africa shows interest, but Broos commits to Bafana... unless SAFA say otherwise
Bafana Bafana's journey at the month-long Africa Cup of Nations in Ivory Coast was nothing short of remarkable for a team that flew under the radar. Amidst the roaring crowds, electrifying matches, and almost always defying the odds, one figure stood tall during triumphs and tribulations: head coach Hugo Broos. As the dust begins to settle on Bafana's third-place penalty shootout victory against the Democratic Republic of the Congo on Saturday evening, Broos made a resounding declaration: his commitment to the South African national men's senior team remains unwavering.
Source:The North Africa Journal
February 11, 2024 16:23 UTC
Donald McClellan Schuster
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Source:The North Africa Journal
February 11, 2024 14:34 UTC
Morocco dinosaur discovery gives clues on why they went extinct
It’s not just that dinosaur fossils are so rare; the fossil record is also patchy. Because it’s such a huge landmass, Africa probably had far more dinosaur species than North America. And in Morocco, we’ve studied lots of marine fossils. In recent months, more dinosaur fossils and more species have turned up. What our findings showAfrica’s last dinosaurs, especially its diverse predatory dinosaurs, suggest that immediately before their extinction, the dinosaurs thrived.
Source:The North Africa Journal
February 11, 2024 09:06 UTC
The Velvet Revolution's Call: Democratizing the Middle East and North Africa
Yet, the Middle East and North Africa (MENA) region remains steadfastly resistant to the trend towards liberal democracy. The Berlin Wall's ShadowThe Berlin Wall's fall marked the end of a 40-year era of socialist rule in the German Democratic Republic (GDR). AdvertismentWhile the Berlin Wall now stands as a symbol of freedom and unity, its legacy extends far beyond Germany's borders. The Velvet Revolution AwaitsThe prospect of a velvet revolution in the MENA region draws inspiration from the non-violent transitions that occurred in Czechoslovakia, East Germany, and other Eastern Bloc countries during the late 1980s. AdvertismentAs the MENA region embarks on its journey towards democracy, it is crucial to learn from the lessons of history.
Source:The North Africa Journal
February 11, 2024 04:31 UTC
Australia v South Africa | Third ODI
Australia v South Africa | Third ODIThe Commbank ODI series all comes down to the third and final one-dayer between Australia and South Africa at North Sydney Oval, with the Proteas looking to continue their form after upsetting the Aussies in the second match
Source:The North Africa Journal
February 11, 2024 02:42 UTC
Tuareg Separatists Lift Road Blockades in Northern Mali
Tuareg separatists announced Saturday the lifting of blockades they'd set up in December on main roads throughout northern Mali after the national army took back several towns. The Taureg-dominated rebel groups lost control of several localities in the north of the country after an army offensive in late 2023 that culminated with the taking of Kidal, a bastion of the separatist movement. The military junta that seized power in a 2020 coup largely won those exchanges, but the rebels didn't surrender and retreated into remote desert and mountainous areas. In December, the rebels blocked all products and types of vehicles in the sparsely populated north. There also have been accusations of atrocities committed against civilians during the recent offensive by Mali's army and the Russian force, which again the authorities have repeatedly denied.
Source:The North Africa Journal
February 11, 2024 01:50 UTC
Savannah Irish Festival at Victory North
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Source:The North Africa Journal
February 10, 2024 22:04 UTC
What the World Got Wrong About Frantz Fanon
The subtitle of Adam Shatz’s new biography, The Rebel’s Clinic: The Revolutionary Lives of Frantz Fanon, suggests that his life was not so simple. Fanon’s parents identified so deeply with the French Republic that they behaved “more French than the French,” Shatz writes. It was not until Fanon joined the Free French Forces in World War II that his faith in European civilization was shaken. Following an FLN expedition to Mali to assess the possibility of a weapons corridor to southern Algeria, Fanon fell ill and was diagnosed with leukemia. Shatz does suggest that one aspect of Fanon’s work is most relevant for our world today.
Source:The North Africa Journal
February 10, 2024 16:43 UTC
AFCON-2025 in Morocco will be ‘huge success’ – CAF President – The North Africa Post
The Africa Cup of Nations (AFCON) to be held in Morocco in 2025 will be “excellent” and will undoubtedly be a “huge success”, said, on Friday, president of the Confederation of African Football (CAF), Patrice Motsepe. “The next AFCON will be of a very high standard. “Africa is proud of Côte d’Ivoire, Nigeria and all twenty-four teams taking part in this AFCON,” he noted, pointing out that CAF’s objective is to raise the level of football in every African country, particularly amateur and school football. “Africa’s success depends on Africans. The key to success is to work hand in hand, provided we allow young people to contribute to the development of our continent,” he stressed.
Source:The North Africa Journal
February 10, 2024 15:47 UTC
What 100,000-year-old footprints in Morocco tell us about early humans
These are the first early human tracks to have been discovered in North Africa and the Southern Mediterranean. The arch of the indentations, rounded heels and the marks of short toes confirmed that they were tracks from Homo sapiens or modern humans like us. The preceding Middle to Late Pleistocene, encompassing the periods from 770,000 to 120,000 years ago, is broadly believed to be the age when ancient humans – separate from modern humans – roamed the earth. But footprints also give scientists an estimated timeframe to work out when humans started branching out and moving across the globe. For years, researchers held that modern humans first arrived in Alaska and spread through North America about 13,000 to 16,000 years ago after the last Ice Age.
Source:The North Africa Journal
February 10, 2024 15:46 UTC
AU-W vs SA-W Dream11 Prediction 3rd ODI: Cricket Fantasy Tips, Probable Playing XIs
HomeSportsAU-W vs SA-W Dream11 Prediction 3rd ODI: Cricket Fantasy Tips, Probable Playing XIs, Injury Updates For Today’s Australia Women vs South Africa Women, North Sydney Oval, Sydney, 9.10 AM ISTAU-W vs SA-W Dream11 Prediction 3rd ODI: Cricket Fantasy Tips, Probable Playing XIs, Injury Updates For Today’s Australia Women vs South Africa Women, North Sydney Oval, Sydney, 9.10 AM ISTHere is the Dream11 team of India vs Australia 3rd ODI, Dream11 Fantasy Tips, Dream11 Latest News, AU-W vs SA-W, Australia Women vs South Africa Women, South Africa Women, Australia Women, AU-W vs SA-W, AU-W vs SA-W Dream11, AU-W vs SA-W Dream11 team, AU-W vs SA-W Dream11, AU-W vs SA-W Dream11 Team, Australia Women vs South Africa Women Fantasy team. AU-W vs SA-W Dream11 Prediction 3rd ODI: All You Need To KnowAU-W vs SA-W Dream11 Prediction 3rd ODI: Australia have already won the first match of the three-match ODI series and the second match has been washed out due to rain. Here is the Dream11 team of India vs Australia 3rd ODI, Dream11 Fantasy Tips, Dream11 Latest News, AU-W vs SA-W, Australia Women vs South Africa Women, South Africa Women, Australia Women, AU-W vs SA-W, AU-W vs SA-W Dream11, AU-W vs SA-W Dream11 team, AU-W vs SA-W Dream11, AU-W vs SA-W Dream11 Team, Australia Women vs South Africa Women Fantasy team. AU-W vs SA-W Dream11 Prediction 3rd ODI: Cricket Fantasy Tips, Probable Playing XIs, Injury Updates For Today’s Australia Women vs South Africa Women, North Sydney Oval, Sydney, 9.10 AM IST. Trending NowAUS-W vs SA-W (Australia Women vs South Africa Women), 3rd ODI – Match InformationYou may like to readMatch: Australia Women vs South Africa Women, 3rd ODIDate: 10th February, 2024Time: 9.10 AM ISTVenue: North Sydney Oval, Sydney.
Source:The North Africa Journal
February 10, 2024 14:14 UTC