Oil prices ease as investors weigh supply outlook, Middle East tensions
Oil prices ease as investors weigh supply outlook, Middle East tensions
Business
Electrical interconnection with Saudi Arabia will begin in mid-November – Egyptian energy chief
Egypt and Saudi Arabia plan to officially launch their electricity interconnection project in mid-November, following the completion of operational tests for the two lines expected in three weeks. This $1.8 billion project, with a target capacity of 3,000 megawatts, aims to enhance energy security and facilitate electricity exchange between the countries, promoting regional cooperation and renewable energy initiatives.
Business
Prolonged war, renewed disruptions pose biggest risk to Middle East region, IMF says
By Andrea ShalalBANGKOK, Oct 15 (Reuters) - Prolonged war in the Middle East and further disruptions to energy production, shipping routes or critical infrastructure pose the biggest risk to economies in the Middle East and Central Asia, the International Monetary Fund said on Thursday.Jihad Azour, the IMF's director for the Middle East and Central Asia, told reporters the war was imposing a highly uneven economic shock to the broader region, with directly affected states under severe pressure.
Business
Gulf economies will not return to pre-war growth soon, IMF warns
Gulf economies will not return to pre-war growth soon, IMF warns The International Monetary Fund (IMF) expects Middle Eastern economies to bounce back, but not in the medium term, the organisation's regional chief said on Thursday. "We will not go back to the pre-war trajectory in the medium term because this shock will have a scarring impact on various sectors and also will disrupt a certain number of infrastructure, and will require additional spending in order to increase resilience," IMF…