First Independent Mena Newspaper
With the euro having recently declined to less than one US dollar, this development has a direct impact on the CFA franc, which has a fixed exchange rate parity value with the single European currency. The euro’s continued to slide toward the US dollar since 5 July has resulted in a 20-year low, according to […]
Following a visit to Egypt and the Republic of Congo, Russian Foreign Minister Sergey Lavrov has now (26 July) arrived in Uganda as Moscow aims at strengthening its ties with the continent. Uganda’s President Yoweri Museveni has a long history of balancing strong relations with Western allies and good ties with Moscow. Lavrov has earlier […]
Russia’s Foreign Minister Sergey Lavrov Sunday said Russian grain exporters are committed to their obligations regarding international wheat orders. Russia’s top diplomat was in Cairo Sunday to meet with Egyptian authorities and the Arab League. Lavrov during a joint press conference with his Egyptian counterpart Sameh Shoukry said that his country took many steps to […]
An armed group in Mali affiliated with al-Qaeda has claimed responsibility for a deadly attack on the country’s main Kati military base near the capital city Bamako, which it said was a response to governmental collaboration with Russian mercenaries. Friday’s (22 July) raid on the Kati base that killed at least one soldier and wounded […]
French President Emmanuel Macron today (25 July) begins a three-nation tour of western African states in the first trip to Africa of his new term as he seeks to reboot his country’s post-colonial relationship with the continent. Macron’s 25-28 July tour, also the first venture outside Europe of his new mandate, will take the French […]
The World Bank has released $100 million for the World Food Program to tackle “deep food insecurity” for 2 million people in Sudan. The Washington-based institution in a statement said the funds will help provide an “emergency safety net” amid worsening hunger in the northeast African nation “caused by a poor harvest and rising international […]
Egypt and Russian energy company Rosatom have announced the beginning of construction work of the North African country’s first nuclear plant. The plant is being built at El-Dabaa on the country’s north coast and is expected to have four units, each with a generating capacity of 1,200MW. The project has been in the pipeline since […]
Saudi Arabia’s crown prince Mohammed Bin Salman, received a phone call from the president of Russia, Vladimir Putin, on Thursday to discuss a host of issues including bilateral relations between their countries and ways to develop them in various fields, the kingdom’s news agency SPA has reported. The two leaders also touched on the most […]
The African Development Bank Board of Directors approved a loan of USD 271 million to finance Egypt’s Food Security and Economic Resilience Support Program to support efforts to mitigate the impact of the global shocks on the domestic economy from the Russia-Ukraine conflict and to preserve resilience, Abidjan-based bank said in a statement. The program […]
The global economic outlook is “darkening”, the managing director of the International Monetary Fund (IMF) said on Wednesday, citing the war in Ukraine and the “commodity price shocks” it has caused among the main reasons. The IMF plans to publish later this month “a further downgrade” to its growth forecasts “for both 2022 and 2023”, […]