Investing in Vocational Training for Economic Competitiveness King Mohammed VI of Morocco has inaugurated the City of Trades and Skills (CMC) in the Rabat-Salé-Kenitra (RSK) region. This state-of-the-art vocational training establishment, with a focus on excellence and innovation, is part of a comprehensive program aimed at constructing 12 CMCs across…
The Saudi-Iraqi Coordination Council recently concluded its 5th session in Jeddah, resulting in significant agreements between the two nations. Trade between Saudi Arabia and Iraq reached $1.5 billion in 2022, marking a 50% increase compared to the previous year. The cooperation extends to various sectors such as energy, education, banking,…
One year after the Reserve Bank of Malawi (RBM) devalued the kwacha by 25 percent, misalignments in the foreign exchange market continue to persist, with a significant spread of 49.61 percent between bank rates and the official rate. Authorized dealer banks (ADBs) are trading the kwacha at an average of…
Governor Malik Abdul Wali Khan Kakar of Balochistan emphasizes that the Pakistani government is dedicated to promoting cross-border trade with Afghanistan and Iran. Speaking to a delegation from Qilla Saifullah, led by Nawabzada Mehboob Jogezai, the governor highlights the transformative power of expanding border trade in eradicating poverty within Balochistan. By opening new trade routes at Taftan, Chaman, Nushki, Badini, and Qamar Din points, Balochistan’s economic and commercial activities are…
Iran’s Trade Promotion Organization (TPO) has reported an 18% increase in Iran’s exports to Central Asian states, the Caucasus, and Russia in the Iranian calendar year. TPO’s director of the department of Central Asia, Russia, and Caucasus, Rahmatollah Khormali, stated that exports to these regions reached $3.2 billion in the year to March. Export Growth to Central Asia, Caucasus, and Russia Iran’s exports to Central Asian states, the Caucasus, and…
The absence of the Agricultural Development and Marketing Corporation (Admarc) on the market has exposed maize farmers in Malawi to unscrupulous traders who are taking advantage of the situation by buying the staple grain at prices significantly lower than the recommended minimum farm gate price. Nation on Sunday conducted spot checks across the country’s markets and found that many traders are purchasing maize at prices ranging from K300 to K400…
The National Oil Company of Malawi (Nocma) Limited and Petroleum Importers Limited (PIL) have requested a total of $740 million (over K740 billion) to meet their fuel import requirements for the current financial year. During a meeting with the Parliamentary Committee on Natural Resources and Climate Change, representatives from both entities expressed the need to import a combined total of 740 million liters of fuel over the next 12 months, starting from May 2023. Nocma’s Fuel Import Plans and Financial…
Minister of Finance, Lounis Fayed, has affirmed that the Trans-Saharan Gas Pipeline, connecting Nigeria to Europe through Algeria, is a successful and economically viable project with substantial financial returns. Fayed said, “It is an economically viable project with great potential for support and financial returns. Its funding sources primarily rely on banking institutions, and we do not rule out the contribution of the African Development Bank.” The Trans-Saharan Gas Pipeline, a monumental infrastructure undertaking, aims to transport natural gas from…
Mango Export Program Inaugurated by Agriculture Secretary A significant milestone was achieved as Bangladesh officially commenced its mango export procedures this year with the shipment of 10 tons of mangoes to four countries on Thursday. This marks the beginning of a promising export season, with a target of 4,000 tons, doubling last year’s export volume. Promoting Bangladesh’s Mangoes on the Global Stage The inauguration of the mango export program took place at the central packing house in Shyampur, attended by…
Brasilia- Brazilian President Luiz Inacio Lula da Silva delivered a passionate call for increased integration among South American nations during a summit held in Brasilia on Tuesday. In his opening speech, President Lula emphasized the need for closer economic, cultural, and social cooperation among the countries in the region. Banking Collaboration and Reduced Dependency President Lula urged state banks to join forces in financing development projects across South America. By pooling resources, these financial institutions can facilitate economic growth and…
Trade Volume Soars to Unprecedented Heights The bilateral trade volume between Papua New Guinea and China has witnessed a staggering surge, reaching a remarkable US$5.3 billion (approximately K18.7 billion) last year. Chinese Ambassador to PNG, Zeng Fanhua, made this awe-inspiring announcement during his visit to Lae, where he engaged in discussions with Morobe Governor Luther Wenge regarding infrastructural development in the province. The remarkable increase of nearly 30 percent in trade volume demonstrates the strengthening economic ties between the two…
The Iraqi government is set to embark on a monumental project known as the “Great Development Road,” connecting Basra in southern Iraq to European nations. Hisham Al-Rikabi, a government advisor, revealed that the ambitious transportation project will traverse ten Iraqi provinces and eventually reach Turkey and Europe, enhancing regional connectivity and economic opportunities. The Ambitious Great Development Road Project The Great Development Road, hailed as the largest transportation project in the region, aims to establish a crucial link between Iraq…
The Central Bank of the Islamic Republic of Iran and the Russian Federation are focused on enhancing trade exchanges and promoting the use of local currencies in bilateral trade. Discussions between the bank governors emphasized the need to increase banking and monetary exchanges, accelerate brokerage relations, and explore potential collaborations in banking infrastructure. Increasing Banking and Monetary Exchanges The Central Bank of Iran (CBI) recently reported that the governor of the CBI, Mohammad-Reza Farzin, held a meeting with Elvira Nabiullina,…
Cryptocurrency exchange Huobi Global has received an enforcement action from Malaysia’s Securities Commission, resulting in an order to cease all operations in the country. The Securities Commission Malaysia (SCM) stated that Huobi Global failed to register as a cryptocurrency exchange operator, leading to concerns about compliance with local regulatory requirements. As a result, Huobi Global has been directed to disable its website, mobile applications, and cease advertising its products and services to Malaysian users. Huobi Global Responds to Enforcement Action…
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