#morningpressreview

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #wednesday #morningpressreview #europegas Gas prices in Europe rose by more than 12% NICOSIA (Radiosat24web) - Gas prices in Europe rose, today, Wednesday, by more than 12%, in light of the decline in natural gas supplies from Russia through the "North Stream-1" due to the obstruction of equipment maintenance work, in light of Western sanctions. According to trading data, gas prices in Europe rose by more than 12% and approached the level of $2,350 per thousand cubic meters of blue fuel, for the first time since last March. The rise comes in light of fears of a decline in natural gas supplies from Russia, and the Russian "Gazprom" company will start from today, Wednesday, to reduce natural gas supplies to Europe through the "North Stream-1" route, after another turbine stopped working due to maintenance work. Western sanctions imposed on Russia are obstructing the maintenance work of the Siemens turbines installed on the "North Stream-1" pipeline (a gas pipeline from Russia to Germany across the bottom of the Baltic Sea), which leads to a decrease in the volume of supplies. #radiosat24web https://www.instagram.com/p/CggxPpLNUnc/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #wednesday #morningpressreview #europegas

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #tuesday #morningpressreview #sᴜᴍᴍᴇʀ2022 https://www.instagram.com/p/Cgd82nCt8Q1/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #tuesday #morningpressreview #sᴜᴍᴍᴇʀ2022

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #thursday #morningpressreview #worldgoldprice Gold loses its luster ahead of the ECB rate hike NICOSIA (Radiosat24web) - Gold prices fell on Thursday to their lowest levels in nearly a year, as prospects for an interest rate increase by major central banks to curb spiraling inflation weighed on the precious metal's allure. Although gold is considered a hedge in the face of inflation, the rise in interest increases the opportunity cost of holding the yellow metal, which does not yield a return. And gold fell in spot transactions 0.3 percent to $ 1691.84 an ounce, by 0313 GMT, after falling to its lowest level since early August 2021, recording $ 1689.40 earlier in the session. US gold futures fell 0.6 percent to $1,690.40 an ounce. The European Central Bank is set to raise interest rates for the first time in 11 years on Thursday, with a larger-than-reported move increasingly likely, as policymakers fear losing control of unbridled consumer price growth. The Federal Reserve is also widely expected to raise interest rates by 75 basis points at its policy meeting next week. In Britain, inflation rose in June to a 40-year high, boosting the chances of the Bank of England raising interest rates by half a percentage point next month. "Gold fell below $1,700 an ounce as investors continue to limit their exposure to the sector ahead of central bank meetings," ANZ analysts said in a note. The dollar's decline limited gold's losses, as it fell 0.3 percent against rival currencies. A weak dollar makes gold cheaper for holders of other currencies. Market participants are also anticipating the resumption of gas flows through the largest pipeline from Russia to Germany. Among other precious metals, silver fell in spot transactions 0.6 percent to $ 18.54 an ounce, and platinum lost 0.5 percent to $ 854.03, while palladium increased 0.3 percent to $ 1867.20. #radiosat24web https://www.instagram.com/p/CgQ9ULItc74/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #thursday #morningpressreview #worldgoldprice

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #monday #morningpressreview #eurovalue Is the euro out of its crisis? NICOSIA (Radiosat24web) -The euro's fall against the dollar on the backdrop of the Ukraine war and the rising risks facing the European Union's economy has brought the two currencies into parity for the first time in two decades. The single European currency fell to $0.9952 on Thursday, an unprecedented level since late 2002, when the euro was officially introduced. However, investors expect that the Euro can recover if several obstacles remain in its path over the coming months. The first obstacle is the risk of interruption of Russian gas supplies to Europe, which would lead to higher electricity bills and force eurozone countries to reduce some industrial activities. "If gas flows from Russia return to normal or at least stop declining after the shutdown that led to maintenance work at Nord Stream 1 ends next week, this will ease market fears somewhat of the crisis," Commerzbank analyst Esther Rechlet told Radiosat24web imminent gas in Europe". While the Russian gas giant "Gazprom" has warned that it cannot guarantee the normal operation of the pipeline, European countries fear that Moscow may seek to use technical justifications to permanently stop and put pressure on gas shipments. French President Emmanuel Macron said Thursday that Russia was using energy as a "weapon of war". In turn, Stephen Innes, an analyst at SBI Asset Management, warned that "if (Nord Stream 1) is not restarted, the euro will decline and the whole world will feel the economic tremors, while the European energy crisis could cause a recession." This #article continues https://www.instagram.com/p/CgJHmTJN_uI/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #monday #morningpressreview #eurovalue #article

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #sunday #morningpressreview #morningbreakfast🌊🌊☀️☀️☀️⛵ https://www.instagram.com/p/CgGkzt7NAfX/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #sunday #morningpressreview #morningbreakfast🌊🌊☀️☀️☀️⛵

[radiosat24web]

b #radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #friday #morningpressreview #natousarussiaukraineeuropeanunioninternationalrelations #italyinternalpolitical Italian president rejects prime minister's resignation NICOSIA (Radiosat24web) - Italian President Sergio Mattarella rejected the resignation Thursday submitted by Prime Minister Mario Draghi, amid a political crisis that experts warn could push the euro zone's third-largest economy into an early general election. The Italian presidency announced that Mattarella "did not accept the resignation, and called on the prime minister to appear before Parliament (...) in order to conduct an assessment of the situation" resulting from the boycott of the "Five Star" movement affiliated with the ruling coalition, a vote of confidence in the government in the Senate. And earlier on Thursday, Mario Draghi said during a government session: “I would like to announce that this evening I will submit my resignation to the president,” adding that the conditions necessary for the continuation of the government coalition “no longer exist.” The Italian Prime Minister also considered that "the charter of confidence on which the government is based no longer exists," according to Radiosat24web. The leader of the "Five Star" movement, Giuseppe Conte, announced Wednesday that senators from his party will not participate in the vote of confidence initially requested by the executive branch. The government won confidence in Thursday's vote, but Draghi had previously warned repeatedly that he would not remain in the prime minister's office without the movement's support. This #article continues https://www.instagram.com/p/CgBiaakNSzv/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #friday #morningpressreview #natousarussiaukraineeuropeanunioninternationalrelations #italyinternalpolitical #article

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #wednesday #morningpressreview #europeanunionrussiaukraineinternationalrelations Asking Paris and Rome to take difficult decisions to confront the gas crisis NICOSIA (Radiosat24web) - The head of the Confederation of Italian Businessmen "Confindustria" and the head of the French employers' movement "Medif" called on French President Emmanuel Macron and Italian Prime Minister Mario Draghi to "declare unpopular measures" to prepare public opinion for the possibility of the Russian gas outage and the resulting rise in prices. "It is clear that we will not have Russian gas by the end of the year, either by our will or by the will of the Russians," MEDEF chief Geoffroy Rue de Pizzo said during a press conference in Paris with his Italian counterpart in the framework of the fourth Franco-Italian economic conference. "We will have to increase" energy prices for consumers, he said, calling on the French government to "announce unpopular measures" as soon as possible. He pointed out the need for (Macron) to "tell the truth" to the French and "to choose the producer before the consumer." His Italian counterpart, Confindustria President Carlo Bonomi, also urged political leaders to "make difficult choices" with the aim of "finding concrete solutions to the problems we must face." "We can envision a complete cut off" of Russian gas supplies, he said, so "we must respond quickly," acknowledging that "the responses are not easy because the problems are not easy." Bonomi indicated that one of the possible solutions lies in "achieving additional efforts in the industrialized world" and the European Union's aspiration "towards the Mediterranean" to obtain gas supplies, despite the "competition from Turkey" in the region and the "presence of China". "Nuclear will also play an essential role," he added. #radiosat24web https://www.instagram.com/p/Cf8Oxj0tvwG/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #wednesday #morningpressreview #europeanunionrussiaukraineinternationalrelations

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #thursday #morningpressreview #eurovalue The euro fell to its lowest level in 20 years against the dollar NICOSIA (Radiosat24web) -The euro fell on Wednesday to a new record not reached in 20 years against the dollar, as fears of high energy prices and possible supply shortages cast a shadow over the euro zone economy, despite some reassurances about gas supplies. Equinox said that oil and gas fields affected by a strike in the Norwegian oil sector are expected to return to full capacity within two days. On the other hand, Goldman Sachs raised its forecast for natural gas prices, saying that the full restoration of Russian gas flows through the "Nord Stream 1" pipeline is no longer the most likely possibility. Analysts expect a rapid rise in oil prices with continued supply shortages. The euro fell 0.3 percent to $ 1.023 after hitting its lowest level since December 2002 at $ 1.0225. The dollar index, which measures its value against six major currencies, rose 0.2 percent to 106.71. The euro fell against the Swiss franc 0.3 percent to its lowest level in seven years at 0.9911 franc. The dollar fell 0.3 percent against the Japanese yen to 135.36 yen to the dollar. The Bank of Japan said it would not halt monetary stimulus measures to contain inflation caused by rising fuel and raw materials prices due to the Ukraine crisis and was likely to be temporary. With regard to crypt currencies, the price of Bit coin decreased by one percent and recorded in the last trading of $ 2017,570, and the price of Ether rose by 1.2 percent to $1,146. #radiosat24web https://www.instagram.com/p/Cfsyj7OoxQQ/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #thursday #morningpressreview #eurovalue

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #tuesaday #morningpressreview #europeanunionrussiaukraineinternationalrelations European Commission President: The Kremlin aims to destroy Ukraine NICOSIA (Radiosat24web) - On the impact of the battles in Donbass, eastern Ukraine, the leaders of the Ukrainian countries are meeting to draw up a road map for the reconstruction of the country after the devastation caused by the battles. European Commission President Ursula von der Leyen, during the Lugano conference in Switzerland on Monday, accused the Kremlin of destroying Ukraine politically, militarily and economically. She added that the conference will set a map for the reconstruction of Ukraine and the provision of funding sources, noting that the European Union will establish a platform for reconstruction to coordinate the reconstruction of Ukraine after its war with Russia. Roadmap Von der Leyen also said the platform will be used to map investment needs, coordinate work, and direct resources. She explained that the European Union has mobilized about 6.2 billion euros in financial support since the beginning of the war, pointing out that more will come. While she confirmed that Brussels would be heavily involved in reconstruction in the medium and long term. This #article continues https://www.instagram.com/p/CfnrLDiNMRb/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #tuesaday #morningpressreview #europeanunionrussiaukraineinternationalrelations #article

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #friday #morningpressreview #europeanunionrussiaukraineinternationalrelations Schulz announces the imminent resolution of the dispute over North Macedonia's accession to the European Union NICOSIA (Radiosat24web) - German Chancellor Olaf Scholz has expressed his belief that progress has been made in the dispute over North Macedonia's accession negotiations to the European Union, a move that Bulgaria opposes. The Social Democratic politician explained that he had held talks in this regard on the sidelines of the North Atlantic Treaty Organization (NATO) summit in Madrid today, Thursday. Finding a solution to this dispute has become noticeably closer. Schulz added that there is a new proposal from the French presidency of the European Union that addresses the sensitivities of both sides and that it is expected to study this proposal now. On Friday, Bulgaria's parliament voted to withdraw its veto over the start of talks on North Macedonia's accession to the European Union. Since late 2020, Bulgaria has been blocking the start of talks on North Macedonia's accession to the European bloc, due to Skopje's refusal to grant its Bulgarian minority equal rights. Bulgaria had recently demanded to withdraw the veto that the Bulgarians enjoy equal rights with the other segments of North Macedonia, that the constitution should stipulate that they are a people. Moreover, Bulgaria wishes not to recognize the "Macedonian language" as an independent language and considers it a form of the Bulgarian language. Bulgaria also called on EU institutions to oversee whether North Macedonia implements a bilateral agreement on improving relations from 2017, which deals with issues such as the two neighbors' common history approach. #radiosat24web https://www.instagram.com/p/CfdXiLvN1Bm/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #friday #morningpressreview #europeanunionrussiaukraineinternationalrelations

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #europeanunionrussiaukraineinternationalrelations #thursday #morningpressreview #worldeconomy Heads of major central banks: lowering inflation would be "painful" NICOSIA (Radiosat24web) - The heads of major central banks have stressed that lowering inflation around the world will be painful and may destroy growth, but it must be done quickly to prevent rapid price growth from becoming entrenched. Inflation around the world has reached its highest levels in several decades due to jumps in energy prices and bottlenecks in supply chains after the pandemic. US Federal Reserve Chairman Jerome Powell said, "The process is very likely to involve some pain, but the worst pain will come from failing to address this high inflation and allow it to become permanent." US Federal Reserve Chairman Jerome Powell said that there is a potential risk that US interest rate increases will slow the economy too much, but the biggest risk is persistent inflation that raises people's expectations about prices. Speaking at the European Central Bank's annual conference, Powell said that while there was "a potential risk" that the US central bank would slow the economy more than is necessary to control inflation, "I don't agree that that is the bigger risk. The biggest mistake would be the failure to restore price stability." ." This #article continues https://www.instagram.com/p/Cfa3whttci-/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #europeanunionrussiaukraineinternationalrelations #thursday #morningpressreview #worldeconomy #article

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #tuesday #morningpressreview #europeanunionrussiaukraineinternationalrelations #turkeyeconomy Erdogan: Inflation in Turkey will reach "appropriate" levels by March 2023 NICOSIA (Radiosat24web) - Turkish President Recep Tayyip Erdogan said on Monday that inflation in Turkey will fall to "appropriate" levels by March next year, after exceeding 73 percent in May, and is expected to continue rising. Speaking after a cabinet meeting, Erdogan said a supplementary government budget, which Parliament is currently discussing, is required due to price fluctuations caused by inflation. #radiosat24web https://www.instagram.com/p/CfVsTRAtQMI/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #tuesday #morningpressreview #europeanunionrussiaukraineinternationalrelations #turkeyeconomy

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #tuesday #morningpressreview #europeanunionrussiaukraineinternationalrelations #europeenergy The European Union decides to store sufficient quantities of gas before the winter season NICOSIA (Radiosat24web) - The energy ministers of the European Union decided at their meeting in Luxembourg on Monday to store sufficient quantities of gas before the onset of winter, in order to secure energy supplies that are hampered by the war in Ukraine. The ministers said in a joint statement that the decision constitutes an important step in enhancing energy security in the EU countries. According to the decision, the countries of the Union will work to fill the ground tanks in them to at least 80 percent of their capacity before the winter of (2022/2023) and to 90 percent before the following winter periods, provided that countries that do not have storage facilities have access to the gas reserves stored in other member states. The statement stated that the decision requires the approval of all operators of the ground tank sites by the relevant authorities in the countries of the Union, in order to avoid the risk of external influence on the infrastructure of the tanks, which may "paralyze the security of energy supplies in the European Union." #radiosat24web https://www.instagram.com/p/CfVn8hrNeIJ/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #tuesday #morningpressreview #europeanunionrussiaukraineinternationalrelations #europeenergy

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #europeanunionrussiaukraineinternationalrelations #monday #morningpressreview #g7summit G7 summit kicks off in Germany NICOSIA (Radiosat24web) - The Elmau Palace in the cold Bavarian Alps received the leaders of the countries participating in the summit, where hot files are discussed, most notably the war in Ukraine. Germany holds the presidency of the Group of Seven this year, and Chancellor Olaf Schultz is hosting US President Joe Biden for a bilateral meeting, shortly before the official launch of the summit. The summit will focus on several issues, including jointly increasing pressure on Russia, military and humanitarian support for Ukraine, and the impact of the conflict in driving up energy and food prices. Non-members of the Group of Seven, namely Argentina, India, Indonesia, Senegal and South Africa, were invited to participate in selected sessions, while Ukrainian President Volodymyr Zelensky will address the delegations via a video link. A security exclusion zone was imposed around the venue of the summit - which also witnessed Germany's last G7 summit under its presidency in 2015 - to prevent entry to anyone without a permit. The summit is being held under heavy security, and about 18,000 security personnel are deployed in the vicinity of the palace to maintain order during the numerous demonstrations to be organized by human rights and environmental activists under the watchful eye of the leaders of the Group of Seven major countries. Washington set 3 major goals for the G7 summit: increasing pressure on Russia, presenting concrete proposals to respond to rising energy and food prices, and launching an infrastructure partnership with developing countries. #radiosat24web https://www.instagram.com/p/CfTQ3I-NnDO/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #europeanunionrussiaukraineinternationalrelations #monday #morningpressreview #g7summit

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #europeanunionrussiaukraineinternationalrelations #monday #morningpressreview #egyptconomy Egypt contracts to buy 180,000 tons of wheat from India NICOSIA (Radiosat24web) - The Egyptian Minister of Supply, Ali Moselhi, said on Sunday that Egypt had contracted to buy 180,000 tons of wheat from India, which is less than what was previously agreed upon. Egypt is studying ways to extract more flour from the grain and use potatoes to make bread as it tries to cut imports. Egypt, one of the world's largest importers of wheat, has in recent years bought large quantities of grain through the Black Sea, but its imports were interrupted by the Russian attack on Ukraine. The war in Ukraine increased the costs of Egypt's wheat imports. Egypt relies mainly on wheat imports to provide subsidized bread to more than 70 million people out of a population of 103 million. Moselhi had said in May that Egypt, which is seeking to diversify its sources of imports, had agreed to buy 500,000 tons of wheat from India. India banned wheat exports in the same month, but allowed it to be supplied to countries such as Egypt for reasons of food security needs. Moselhi said, on Sunday, that the supplier stipulated that wheat be provided at the ports. He added that the agreement was for 500,000 tons, but it turned out that the supplier had 180,000 tons in the port. Moselhi added that Egypt is also in talks with Russian suppliers to conclude an agreement to buy wheat. Separately, Moselhi said that Egypt is studying ways to obtain more flour from grains, which would raise the percentage of flour extraction used in subsidized bread to 87.5 percent from 82 percent. This #article continues https://www.instagram.com/p/CfTGm8nNax-/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #europeanunionrussiaukraineinternationalrelations #monday #morningpressreview #egyptconomy #article

[radiosat24web]

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #europeanunionrussiaukraineinternationalrelations #monday #morningpressreview #worldeconomy A warning message to the world's central banks: You must act quickly to confront inflation NICOSIA (Radiosat24web) - The Bank for International Settlements (BIS) warned that central banks will be complacent in the face of inflation, while the threat of stagflation hangs over the global economy. The Bank for International Settlements, which serves as the central bank of the world's central banks, said in its annual report on the economy that institutions must move quickly to ensure a return to low and stable inflation, while limiting its effects on growth rates. "The key for central banks is to act quickly and decisively before inflation takes hold," said Agustin Carstens, managing director of the bank. "If that happens, the cost of bringing it back under control will be higher. The long-term benefits of maintaining stability for households and businesses outweigh any short-term costs," he added. The main report of the Bank for International Settlements stated that in order to restore low and stable inflation rates, central banks should seek to reduce the damage to economic activity and thus protect financial stability. The BIS said engineering a so-called soft landing has historically been a difficult process, and current conditions make the task even more challenging. "It is more desirable if we can do a soft landing, because this means that monetary tightening can be more under control," Karstens said during a press conference. This #article continues https://www.instagram.com/p/CfTEsDXt-Oi/?igshid=NGJjMDIxMWI=

#radiosat24web #easternmediterraneanarea #middleeast #gulfcountries #gulfcooperationcouncil #easternmediterraneaneurope #mediterraneanregion #states #communities #localgovernment #economydevelopingcountries #socialopportunities #sportsandfreetime #dailypressreview #europeanunionrussiaukraineinternationalrelations #monday #morningpressreview #worldeconomy #article