Vantage | How the Red Sea crisis is hurting India
In recent times, the world has been gripped by a crisis unfolding in the Red Sea, where relentless missile attacks continue unabated. The crisis has far-reaching consequences and its impact is acutely felt by nations relying on the Red Sea trade route. India’s exports through the Red Sea valued at Rs18 trillion ($217 billion) and imports from these regions, worth Rs17 trillion ($205 billion), have been significantly impacted. Exporters are facing difficulties finding ships willing to take the Red Sea route, leading to substantial losses. The Red Sea crisis, beyond being a security challenge, is testing the resilience of the Indian economy.
Source:The North Africa Journal
February 01, 2024 06:37 UTC
U.S. supports Morocco’s post earthquake recovery with over $12 Mln funding – The North Africa Post
The U.S. Agency for International Development (USAID) has announced $12.6 million funding in support for Morocco’s post-earthquake recovery efforts. “We support Morocco’s response to Al Haouz earthquake, from the initial emergency effort to save lives to the ongoing process of rebuilding livelihoods,” said U.S. Ambassador Puneet Talwar, in a press release issued by the USAID. “The United States is proud to stand in partnership with our oldest friend during this process, supporting critical socio-economic services that align with the Kingdom’s reconstruction plan and help people and communities recover,” added the American diplomat. Since then, the US Agency has worked with its partners across government, civil society, and private sectors to identify and pursue critical interventions that support the advancement of Morocco’s reconstruction plan and promote the Kingdom’s long-term resilience and prosperity.
Source:The North Africa Journal
February 01, 2024 03:32 UTC
Eni closes Neptune acquisition
Eni SPA closed the acquisition of Neptune Energy Group Ltd. The transaction was first announced in June 2023 (OGJ Online, June 23, 2023). The acquired assets include Neptune’s participation in the Eni-operated Geng North-1 gas discovery, offshore Indonesia (OGJ Online, Oct. 2, 2023). Vår Energi acquired the business in Norway directly from Neptune before the completion of the Eni transaction. The carve-out of Neptune’s activities in Germany was also completed prior to the closing of the Neptune Energy Group sale.
Source:The North Africa Journal
February 01, 2024 03:26 UTC
Live updates | South Africa alleges Israel is ignoring court ruling as more are killed in north Gaza
Joplin, MO (64801)TodayPartly cloudy skies this morning will become overcast during the afternoon. High around 65F. Winds SSW at 10 to 20 mph..TonightPartly cloudy skies early will give way to cloudy skies late. Winds SSE at 5 to 10 mph.
Source:The North Africa Journal
February 01, 2024 03:15 UTC
Education Program on Antisemitism Incorporates Experiences of Jews of Middle East and North Africa
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Source:The North Africa Journal
February 01, 2024 02:59 UTC
90,000-Year-Old Human Footprints Found In Morocco Are Among World's Oldest
Along the coast of Morocco, archaeologists have uncovered the oldest human footprints ever discovered in Northern Africa and the Southern Mediterranean. Dating to some 90,000 years ago, they are also “among the oldest footprints attributed to Homo sapiens worldwide.”An international team of archaeologists recently discovered the footprints near the city of Larache on the Northwest coast of Morocco. They are, therefore, the oldest human footprints in this region and among the oldest footprints attributed to Homo sapiens worldwide,” the study authors write. However, excavations in the past two decades have revealed many more footprints older than this time. Advertisement AdvertisementEven in North America, where human presence is relatively recent, archaeologists have recently uncovered human footprints in present-day New Mexico that could be as old as 23,000 years.
Source:The North Africa Journal
February 01, 2024 02:28 UTC
Air Travel Demand Continues to Rise in 2023
The International Air Transport Association (IATA) announced that the recovery in air travel continued in December 2023 and total 2023 traffic edged even closer to matching pre-pandemic demand. • Total traffic in 2023 (measured in revenue passenger kilometers or RPKs) rose 36.9% compared to 2022. Globally, full year 2023 traffic was at 94.1% of pre-pandemic (2019) levels. December 2023 total traffic rose 25.3% compared to December 2022 and reached 97.5% of the December 2019 level. December 2023 domestic traffic was up 27.0% over the year earlier period and was at 2.3% above December 2019 traffic.
Source:The North Africa Journal
February 01, 2024 01:14 UTC
Eni completes $4.9 billion purchase of Neptune Energy
Italian energy group Eni has concluded the acquisition of UK-headquartered independent Neptune Energy for $4.9 billion. The transaction comprises Neptune’s entire portfolio other than its operations in Norway, which are being acquired by Eni’s Norwegian subsidiary Vaar Energi, and Germany. “Through this transaction, Eni integrates a high-quality and low carbon-intensity portfolio with exceptional geographic and operational complementarity to its own,” the company said in a statement. Vaar Energi, which is 63% owned by Eni, acquired the business in Norway directly from Neptune before the completion of the transaction. The carve-out of activities in Germany was also completed prior to the Eni deal and will continue to be owned and operated by existing Neptune shareholders as a standalone group.
Source:The North Africa Journal
February 01, 2024 00:07 UTC
Israel’s war on Gaza updates: Khan Younis hospitals out of food
Israel’s war on Gaza updates: Khan Younis hospitals out of foodThe ministry says constant Israeli attacks on Nasser and Al-Amal hospitals pose great death risk to thousands inside.
Source:The North Africa Journal
January 31, 2024 21:22 UTC
Royal Road Minerals Announces Board Changes
Cancellation and Issue of Stock OptionsToronto, Ontario--(Newsfile Corp. - January 31, 2024) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the "Company") announces that Ana Gabriela Juárez has resigned as a director of the Company and that Mr. Ghassane Benchekroun has been appointed as a director of the Company, effective immediately. The Company welcomes Ghassane Benchekroun to the Board. We welcome Ghassane to Royal Road's board where his wealth of local and regional knowledge will surely strengthen our team's ability to deliver shareholder value" said Jon Hill, Chairman of the board of Royal Road. The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. There is no guarantee that the anticipated benefits of the Company's business plans or operations will be achieved.
Source:The North Africa Journal
January 31, 2024 19:43 UTC
Egyptian potato grower targets West African markets
West African countries are heavily dependent on imports for the supply of essential fresh produce, such as potatoes and onions. However, penetrating West African markets will not be an easy task for Egyptian exporters, concedes Abdelhay. Abdelhay continued: "At Arafa Company, we have the capacity to play a key role in opening up and supplying West African markets. We are one of Egypt's leading producers and exporters of fresh potatoes, with extensive experience in exporting fresh Egyptian potatoes (especially processing potatoes) to various markets such as Spain, Belgium, Croatia, Saudi Arabia, Kuwait, the United Arab Emirates, Indonesia, Lebanon, Iraq and others. "It's an experience that is in line with the needs of West African countries.
Source:The North Africa Journal
January 31, 2024 19:26 UTC
Mining companies investing in clean energy to green up their act
Source: International Mining/XMAURITANIAKinross Gold, a senior gold mining company, is constructing a 34MW solar power plant and a battery system of 18MW at its Tasiast operation in Mauritania. Source: Kinross Gold CorporationNAMIBIAIn March 2023, Namibia’s oldest commercial uranium mine Rössing Uranium announced plans to construct a solar plant. The Solar Hybrid Plant is owned and operated by CrossBoundary Energy under a 20-year PPA and comprises a 2.69MWp solar PV array combined with a 1.37MWh battery energy storage system and a 3.1MW thermal (diesel) generator plant. The entire array, incorporating 4,902 PV panels covering an area of 12,663m2, has been fully integrated with the storage system. Source: NextSourceMALIB2Gold is expanding its solar plant at the Fekola gold mine.
Source:The North Africa Journal
January 31, 2024 18:45 UTC
Tunisia wants to borrow billions from its central bank to address deficits. Experts call that risky
TUNIS, Tunisia (AP) — Cash-strapped Tunisia wants to take the unprecedented step of borrowing billions from its central bank to address budget deficits and bandage its economic crisis, a step that experts warn could bring inflation and lessen faith in institutions. Those laws added the central bank to a growing list of institutions that critics say Saied has sought to undermine since taking power in the North African nation, along with briefly suspending parliament and rewriting Tunisia’s constitution. His government wants the central bank to directly buy up to 7 billion Tunisian dinars ($2.25 billion) in interest-free bonds to help plug a 10 billion dinar ($3.2 billion) budget deficit. It comes as Tunisia finds itself unable to borrow from traditional creditors, including the International Monetary Fund, whose proposed $1.9 billion bailout package remains in limbo. Borrowing from the central bank may fund the budget in the short term, retaining subsidies for everyday goods like flour, electricity and fuel.
Source:The North Africa Journal
January 31, 2024 18:42 UTC
African Union pours cold water over Italy’s energy hub plan
Italy’s intention to become an energy hub that will act as a go-between for Africa and Europe, has been received with scepticism from the African Union (AU). She announced various initiatives designed to bolster economic links and create an energy hub for Europe. Moving from commitments to execution to fight climate changeThe Plan is named after Italian Enrico Mattei, founder of ENI. This is earmarked especially for renewable energy, energy efficiency projects, water and sanitation, and agriculture initiatives, as well as vocational training and job creation. He welcomed Italy’s ‘Mattei Plan for Africa,’ which he acknowledged had prioritised energy security.
Source:The North Africa Journal
January 31, 2024 15:08 UTC
Morocco, From Giant-Killers In the World Cup to Fallen Giant In the AFCON
The Moroccan national team is experiencing sad times following their shocking elimination from the AFCON. The "Atlas Lions" fell to South Africa in the round of 16, a match in which they were considered heavy favorites. However, being the favorite in football does not guarantee victory, and Morocco knows this all too well.
Source:The North Africa Journal
January 31, 2024 14:29 UTC