A Pakistani cabinet minister says Islamabad will continue to import liquefied natural gas (LNG) from Qatar under a 15-year agreement, despite the severing of diplomatic ties with Qatar by Saudi Arabia and some other countries.
Shahid Khaqan Abb
A Pakistani cabinet minister says Islamabad will continue to import liquefied natural gas (LNG) from Qatar under a 15-year agreement, despite the severing of diplomatic ties with Qatar by Saudi Arabia and some other countries.
Shahid Khaqan Abbasi, the federal minister for Petroleum and Natural Resources, said Qatar and Pakistan last year signed a $1 billion agreement, under which Qatar's Liquefied Gas Company Limited will sell LNG from 2016 to year 2031 to state-run Pakistan State Oil.
He said since no sanctions have been imposed on Qatar by the United Nations, Pakistan and Qatar were bound to abide by the agreement.
Qatar has released an initial report into the alleged hack of its state-run news agency, an incident which helped spark a diplomatic crisis between the energy-rich country and Arab nations.
The Qatari Interior Ministry said late Wednesday that the website of the Qatar News Agency was initially hacked in April with "high techniques and innovative methods."
It said hackers installed a file and then published a fake news item attributed to Qatar's emir, Sheikh Tamim bin Hamad Al Thani, just after midnight May 24.
The ministry did not say who it suspected carried out the attack. It also thanked the FBI and the British National Commission for Combating Crime for assisting it in its investigation.
The alleged fake news item, which had Sheikh Tamim making controversial comments on Iran and Israel, immediately was picked up by Saudi and Emirati media, laying the groundwork for the crisis that began Monday (05.06.2017.)
Kuwait's emir has traveled to Qatar and met that country's leader as part of his efforts to mediate an end to a crisis that's seen Arab nations cut ties to the energy-rich country and attempt to isolate it.
Kuwait's Sheikh Sabah Al Ahmad Al Sabah was met planeside by Qatar's emir, Sheikh Tamim bin Hamad Al Thani, when he arrived on Wednesday night.
The two held talks, though details of their discussions were not released. Sheikh Sabah earlier Wednesday traveled to Dubai where he met with Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan and Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, who also serves as prime minister and vice president of the UAE.
Sheikh Sabah also has traveled to Saudi Arabia in his efforts.
It said hackers installed a file and then published a fake news item attributed to Qatar's emir, Sheikh Tamim bin Hamad Al Thani, just after midnight May 24.
The ministry did not say who it suspected carried out the attack. It also thanked the FBI and the British National Commission for Combating Crime for assisting it in its investigation.
The alleged fake news item, which had Sheikh Tamim making controversial comments on Iran and Israel, immediately was picked up by Saudi and Emirati media, laying the groundwork for the crisis that began Monday (05.06.2017.)
Kuwait's emir has traveled to Qatar and met that country's leader as part of his efforts to mediate an end to a crisis that's seen Arab nations cut ties to the energy-rich country and attempt to isolate it.
Kuwait's Sheikh Sabah Al Ahmad Al Sabah was met planeside by Qatar's emir, Sheikh Tamim bin Hamad Al Thani, when he arrived on Wednesday night.
The two held talks, though details of their discussions were not released. Sheikh Sabah earlier Wednesday traveled to Dubai where he met with Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan and Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, who also serves as prime minister and vice president of the UAE.
Sheikh Sabah also has traveled to Saudi Arabia in his efforts.
This paper provides a review/summary of 10 papers prepared by external experts, which examine and recommend initiatives for financing the EU's growth model amidst global challenges. These papers were requested by the Committee on Economic and Monetary Affairs (ECON) of the European Parliament. They may feed into the policy debate on how to frame a forthcoming new European competitiveness deal as agreed by the European Council. Source : © European Union, 2024 - EP
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The Arab Bank of Economic Development in Africa (BADEA) board members met in Seychelles on Thursday, as the bank celebrates its 50th anniversary, to discuss new projects and technical assistance for implementation. In his address at the meeting, Seychelles' Minister of Finance, Economic Planning and Trade, Naadir Hassan, said the formal gathering is a powerful affirmation of the shared commitment to fostering sustainable development and economic growth. «In recent years, research has increasingly highlighted the indispensable role that financing institutions like BADEA play in the development agendas of nations such as Seychelles. These insights reinforce what we have always known: that strategic financial support is a cornerstone of national progress,» he added. Hassan said, «Over the years, BADEA's investment in key sectors such as infrastructure, education, and energy has significantly propelled our development agenda. These projects have not only improved the quality of life for our citizens but have also strengthened our economy and enhanced our capacity for sustainable growth. For this, we remain immensely grateful. These achievements stand as a testament to the lasting partnership between our country and your esteemed institution.» He spoke about BADEA's role as more than a financier but rather a partner in progress. «The Bank brings not just capital, but also expertise, confidence, and a steadfast commitment to sustainable development. Your support helps nations like Seychelles build a resilient economy, capable of withstanding global challenges and seizing opportunities for growth,» he added. BADEA has assisted Seychelles by financing many projects throughout the years, including the construction of the Seychelles Maritime Academy, a housing project and public utility infrastructures. «Our partnership with Seychelles has allowed the Bank to fund around 25 projects since establishing the partnership,» said the chairman of BADEA's board of directors, Dr Fahad Aldossari, in his address. In the last 50 years, BADEA has funded over $13 billion in projects across the African continent. During the Arab Africa summit in Riyadh last year, the Arab coordination group committed $50 million to developments in Africa, with BADEA leading the initiative with its different colleagues from different Arab funds. «In addition to funding lots of infrastructure projects, we started working more with private finance and small and medium enterprises to be impactful to the African continent,» said Aldossari. He explained that the Bank has been more active in recent years to be more impactful and more relevant to African countries with an increase in its authorised capital from $4.2 billion to $20 billion. Aldossari revealed that BADEA has also been rated recently by several rating agencies «for the quality of work it has been doing, but also to help the bank improve and increase the number of its activities in Africa.» He added that for the first time this year, the bank has been able to issue loans in euros. «The subscription within the first few hours went to €1.5 billion, which shows the trust from the investment community and also from everyone dealing and working with BADEA,» said Aldossari.
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