Author: cairosun.com

The International Monetary Fund and Lebanon have reached a tentative agreement on Economic Policies with Lebanon for a Four-Year Extended Fund Facility. However, financial experts and analysts remain unconvinced that the Lebanese political elite, widely criticized for rampant corruption, will implement the reforms outlined in the IMF program. Nasser Saidi, a finance professional and former vice governor of Lebanon’s central bank, is among those who are skeptical that such a large-scale reform will ever take place. “This is good news if the set of Monetary-Fiscal-Governance-Structural reforms including banking sector restructuring are implemented. Highly unlikely!” he wrote on Twitter. In a…

Xiaomi has introduced its latest Redmi 10C smartphone, aiming to make high-quality products more accessible to consumers worldwide. Powered by a Snapdragon® 680 processor, built on an efficient 6nm process, the Xiaomi Redmi 10C offers efficient performance and high power efficiency. The Redmi 10C’s 6.71″ DotDrop display offers immersive entertainment for all your favorite content, and it’s compatible with Widevine L1 HD streaming for all your favorite movies and shows. The Redmi 10C stands apart from its segment thanks to its 50MP high-resolution main camera, which allows for sharp shots and videos, as well as a 2MP depth sensor that…

The first GMC HUMMER EV Pickups for the 2022 model year have now been produced at Factory ZERO, and customer deliveries will begin shortly. GMC’s incredible supertruck is the first of many Ultium-based consumer vehicles that will be produced as part of General Motors’ vision for an electric future. Mark Reuss, GM President, said, “This truck helped us get closer to an all-electric future with speed and agility. With our Ultium Platform as the foundation for a broad range of applications, the GMC HUMMER EV offers our customers the ultimate in capability and performance.” GMC HUMMER EV Pickup VIN 001…

In February 2022, air travel rebounded strongly from January 2022, as Omicron-related impacts moderated outside Asia. February 2022 traffic (measured in revenue passenger kilometers or RPKs) was up 115.9% over February 2021. Compared with January 2021, January 2022 showed an increase of 83.1%. But compared with February 2019, traffic fell by 45.5%. A 60.7% increase in domestic traffic was reported in February 2022 over the year-ago period, building on a 42.6% rise in January 2022. According to the International Air Transport Association (IATA), there were wide variations in markets. There was a 21.8% drop in domestic traffic in February compared…

The Central Bank of Egypt reported a decrease of $3.91 billion in foreign reserves for the first time in 20 months. The Egyptian pound dropped again against the dollar on the black market on 21 July 2016, extending its recent decline despite central bank efforts to close the gap between demand and supply in the dollar-starved economy. Due to a 2011 uprising that caused tourists and foreign investors to leave, Egypt’s foreign currency reserves dropped to $16.56 billion from $36 billion. As a result, the black market for dollars has drained liquidity from the banking system, while the central bank…

Jordanian Finance Minister Mohammad Al-Ississ discussed ways to enhance bilateral cooperation in the areas of finance, tax and customs with Saudi Finance Minister Mohammad Al-Jadaan. In the course of the meeting which was held at the sidelines of the Joint Annual Meeting of Arab Financial Institutions in Jeddah, both sides stressed the close ties that bind Amman and Riyadh together. The meeting was attended by the Governor of the Central Bank of Jordan, Adel Sharkas, Secretary-General of the Ministry of Finance of Jordan, Abdul-Halim Shebli, and Director-General of the Department of Income and Sales Tax of Jordan, Hussam Abu Ali.…

For the fourth day in a row, the number of COVID-19 cases in South Korea reached 200,000 due to an increase in the number of infections. According to authorities, as of Thursday alone, there were 621,328 new cases of the virus reported daily, and 429 deaths had been reported sending shockwaves across Asia. Among newly reported WHO data, South Korea leads the world with 2,358,878 cases, followed by Vietnam with 1,795,380. According to the Yonhap News Agency, the country reported 205,333 new COVID-19 infections, including 31 cases from abroad. The total number of cases now totals 14,983,694, as reported by…

Iraqi Foreign Minister Fouad Hussein discussed Russia’s suspension from the Human Rights Council with Saudi, Egyptian, and Algerian counterparts. Hussein talked on the phone with the Minister of Foreign Affairs of Saudi Arabia, Prince Faisal bin Farhan, the Minister of Foreign Affairs of Egypt, Sameh Shoukry, and the Minister of Foreign Affairs of Algeria, Ramtane Lamamra, the Iraqi Foreign Ministry said. On the call, Russia’s position was discussed regarding voting on the draft decision to suspend its membership in the Human Rights Council, exchanging views, and evaluating all developments in international and regional issues of common concern, navigating the various…

The Yemeni Presidential Leadership Council and its supporting entities have the full support of Saudi Arabia in developing policies and initiatives that will lead to security and stability in Yemen and to an end to the Yemeni crisis. Saudi Arabia will provide 3 billion dollars to the Yemeni economy. Yemeni Central Bank will receive $2 billion in support from Saudi Arabia and the United Arab Emirates jointly, while an additional $1 billion from Saudi Arabia will include $600 million for oil derivatives and $400 million for development support. Yemen will also receive $300 million from Saudi Arabia to help fund…

Supporter Tickets and Conditional Supporter Tickets as well as tickets to up to two matches per day are now available following the start of the second Random Selection Draw sales period for FIFA World Cup Qatar 2022. Fans can now place their requests for the top openings after the final draw on April 1 For the first time, applicants will be able to request tickets to up to two matches per day at the beginning of the group stage, with the respective compatibility rules being made available online. The phase runs until April 28, 11am CET. As noted by the…