In a recent address at the Arab Fiscal Forum in Dubai, International Monetary Fund (IMF) Managing Director Kristalina Georgieva highlighted concerns over the sluggish growth of West Asia economies. According to Reuters, Georgieva pointed to factors such as oil production cuts and the Israel-Gaza conflict as major contributors to the region's economic challenges. Egypt's Finance Minister Mohamed Maait acknowledged the potential impact but expressed confidence in the region's resilience. Georgieva also highlighted the potential economic benefits of phasing out energy subsidies in West Asia. However, Georgieva cautioned that countries lacking the necessary infrastructure and skilled workforce to embrace AI technology risk falling behind in the global economic landscape.

The spectre of mass protests – known as the Hirak- is haunting the Algerian military regime as the country reels under an economic crisis that it failed to cover using diplomatic and ideological indulgences. The Algerian people brace to celebrate the fifth anniversary of the Hirak that put an end to Bouteflika’s rule nears on Feb 22. Human Rights activist, Zaki Hannache, estimates the number of prisoners of free speech, currently in jail on charges of “terrorism”, at 228 at least. The Algerian regime which brags about defending Palestine, has ironically banned any pro-Palestinian protests following the war in Gaza, going as far as banning fans from football stadiums. Algerians “are now voiceless, badly represented by a furious regime that has no weight at the international stage,” Wrote L’orientXXI last week.

Finance and investments in Africa’s electricity grids need to more than triple by 2030 to meet sustainable development goals, including universal access. And while global clean energy investment has risen by 40% since 2020, reaching an estimated $1.8 trillion in 2023, almost all the recent growth has been in advanced economies and China. “Capital flows to clean energy projects in many emerging and developing economies remain worryingly low,” said the IEA. Some clean energy technologies, such as solar PV and onshore wind, are already cheaper than fossil fuel alternatives in many parts of the world. Access the International Energy Agency’s Reducing the Cost of Capital report.

Since the October 7 Hamas-led attacks on Israel, France has claimed to approach the war with a strategy of balance based on three pillars pertaining to security, humanitarian, and political considerations. [i] The French show of solidarity with Israel seems to confirm the persistence of Israel-friendly policies into the 2020s. On humanitarian aid, France has chosen to cooperate with two important regional players: Jordan and Qatar. Penholder on Lebanon at the Security Council, Paris has 700 blue helmets on the ground as part of UNIFIL. Many linked it to internal political concerns with France having among the biggest Jewish and Muslim communities in Europe[xiv].

Speaking on a panel at the 2024 Solar Power Africa conference in Cape Town, South Africa, five experienced speakers reflected on a clear opportunity in South Africa’s energy market to provide much-needed energy storage for energy security in a circular way. Second-life batteries, also known as “reused” or “repurposed” batteries, refer to batteries that have been removed from their original application, such as electric vehicles (EVs) or renewable energy storage systems, but still have a significant amount of remaining capacity and useful life. In an energy-strapped country like South Africa, Wido Schnabel, Business Development Director of sub-Saharan Africa for Canadian Solar, says that second-life batteries are the way to go. Managing second-life battery safetyRepurposing these batteries helps extend their useful lifespan, reduces waste, and can provide cost-effective energy storage solutions, contributing to the sustainability of battery technology and the broader energy ecosystem. If battery cell health is maintained, most battery life is still available for use after first-life degradation occurs.

The State of the World’s Migratory Species report, released today, concludes that almost half of the migratory animals on a UN list of vulnerable species are seeing population declines. They include some of the world’s most iconic animals, says Amy Fraenkel at the UN’s Convention on the Conservation of Migratory Species of Wild Animals. Under the agreement, known as the Convention on Migratory Species (CMS), 1189 species were identified as being of particular interest, partly because they regularly cross national borders during their migrations. Sign up to newsletterTo understand how these migratory animals are faring today, Fraenkel and her colleagues conducted a comprehensive analysis of the conservation data for all the species. The team also identified a further 399 migratory animals – including many species of albatross – that are vulnerable to extinction but that are not currently listed under CMS.

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Nigerian Christians and their religious allies are calling on the United States government to put pressure on their president, Bola Ahmed Tinubu, to take the threat of Islamist violence more seriously. There's more to this story Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Subscribe Now cancel anytime Already a a subscriber Sign In

Africa Intelligence uses cookies to provide reliable and secure features, measure and analyse website traffic and provide support to the website users. Apart from those essential for the proper operation of the website, you can choose which cookies you accept to have stored on your device. Either “Accept and close” to agree to all cookies or go to “Manage cookies” to review your options. You can change these settings at any time by going to our Cookie management page.

Kaspersky has appointed Toufic Derbass as the Managing Director for the Middle East, Türkiye, and Africa (META) region. With nearly three decades of experience, Toufic aims to strengthen Kaspersky’s regional presence, which spans over 16 years. Additionally, he plans to raise cybersecurity awareness in the region, contributing to Kaspersky’s mission of creating a safer digital world. Before joining Kaspersky, Toufic held prominent positions at multinational software companies, where he successfully scaled businesses through strategic partnerships and executive relationships with leading private and public sector organizations. Kaspersky’s strong market footprint in the Middle East, Türkiye, and Africa region speaks volumes about its quality products and services, blending technology with human expertise.

Canon Europe announces the call for entries for the eighth edition of the Canon Student Development Programme (CSDP), a prestigious annual programme designed to help aspiring photojournalists advance their careers. Former alumni have gone on to work for reputable news agencies and internationally renowned publications and continued to build successful careers. Finalists of the 2023 programme, Ebrahim Alipoor and Fatma Fahmy, have both been selected for the 2024 VII Mentor program, run by VII Academy. To apply to be a part of the 2024 Canon Student Development Programme or view the entry criteria, please visit: https://apo-opa.co/3UFOaxZFootnotes:[i] For full terms and conditions, please go to this page: https://apo-opa.co/3SxqRUxDistributed by APO Group on behalf of Canon Central and North Africa (CCNA). Media enquiries, please contact:Canon Central and North AfricaMai Youssefe. Mai.youssef@canon-me.comAPO Group – PR AgencyRania ElRafiee. Rania.ElRafie@apo-opa.comAbout Canon Central and North Africa:Canon Central and North Africa (CCNA) (Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe.

AdvtAdvtJoin the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Georgieva said economies neighbouring Israel and the Palestinian territories saw the conflict weighing on tourism revenues, while Red Sea attacks weighed on freight costs globally.Those factors compounded "the challenges of economies that are still recovering from previous shocks," she told the forum on the sidelines of the World Governments Summit in Dubai.The Iran-aligned Houthis in Yemen have been targeting commercial vessels with drones and missiles in the Red Sea since mid-November, and say their attacks are in solidarity with Palestinians as Israel strikes Hamas militants in Gaza. But the U.S. and its allies characterize them as indiscriminate and a menace to global trade.Several global shippers have been diverting traffic to the Cape of Good Hope, a longer route than through Egypt's Suez Canal.Egypt's Finance Minister Mohamed Maait told Reuters on the sidelines of the summit that part of the impact of the diversion on Suez Canal revenues could be absorbed due to good growth in "the period before the events. "The IMF will publish on Monday a paper that shows phasing out energy subsidies could save $336 billion in the Middle East, equivalent to the economies of Iraq and Libya combined, Georgieva said.Georgieva said that eliminating regressive energy subsidies also "discourages pollution, and helps improve social spending. "In the Middle East and North Africa (MENA) region, fossil fuel subsidies made up 19% of GDP in 2022, the IMF has said.It has recommended the gradual unwinding of energy subsidies for the region's economies, including oil exporters, and suggested targeted support as an alternative.Advanced technology, including Artificial Intelligence , is a key theme of focus at the World Governments Summit, with several top executives from major global tech firms due to speak, including Sam Altman , CEO of OpenAI.Georgieva said globally, 40% of jobs are exposed to AI, and countries that lack the infrastructure and a skilled workforce to invest could fall behind.Regional economies such as the UAE and Saudi Arabia have significantly increased investment in AI as part of strategies to diversify income sources.

Bloomberg SurveillanceJonathan Ferro, Lisa Abramowicz and Annmarie Hordern have the economy and global markets "under surveillance". Their daily conversations with leaders and decision makers from Wall Street to Washington and beyond cover the latest in business, investment, and geopolitics. No other program better positions investors and executives for the trading day.

The US president has been urging Israel to agree to a ceasefire, but those familiar with the conversations said Mr Netanyahu has been "giving him hell" and is difficult to deal with. Yesterday, Mr Biden warned Mr Netanyahu against sending troops into Rafah without a "credible" plan for protecting civilians. Mr Netanyahu vowed to press ahead with an expected ground offensive. Mr Biden also described Israel's bombardment of Gaza as "over the top" last week. But despite his private shows of contempt for Mr Netanyahu, the US president is reluctant to come down too hard on him publicly.

Top International Broadcasters to broadcast Final of the AFCONAFCON Cote d’Ivoire sets new TV audience recordsKick-off at 20h00 GMTMore cameras than ever before to give viewers unforgettable experienceAfrica’s biggest event, TotalEnergies CAF Africa Cup of Nations Cote d’Ivoire 2023 wraps up tonight with the grand finale between hosts, Cote d’Ivoire and Nigeria at the Alassane Ouattara Stadium in Ebimpe at 20h00 GMT. The decisive match will be televised in 173 territories globally, making it by far the most-watched AFCON in the history of the competition and once again re-affirming the competition’s global appeal. The Final will be beamed in 54 African countries, majority of Europe, Asia, Middle East, South America, North America, the Caribbean and South Pacific. Leading the global broadcasters are CAF’s traditional partners, beIN Sport (MENA, Europe, America, South Pacific), Canal+ and New World TV. Host nation Cote d’Ivoire and Nigeria will be hoping to add to their trophy haul when they face each other for the second time in the competition.