The dramatic divergence between equity returns in local and foreign currency terms stems from Egypt’s recent currency crisis. The Bigger PictureDespite the currency challenges, many African stock markets have shown impressive performance in local currency terms in 2024. Balancing Growth and StabilityThe divergent fortunes of African stock markets in 2024 underscore the complex challenges facing the continent’s economies. While many countries are seeing robust economic growth and booming local stock markets, currency instability threatens to undermine these gains in the eyes of international investors. As Africa continues to develop and its financial markets mature, addressing currency stability will be key to unlocking the full potential of the continent’s stock markets.

The General Secretariat of the Digital Cooperation Organization (DCO) – the world’s first standalone international organization focusing on the digital economy, Deemah AlYahya, announces in a statement that it will conduct urgent discussions with its member states and digital economy experts to address the implications of the global IT outage. This outage disrupted vital operations worldwide, impacting critical sectors such as aviation, banking, broadcast media, and software providers. AlYahya states that “the high level of impact the world witnessed as a result of the unfortunate outage is alarming and indicates the dire need for a more effective and agile international digital cooperation. The incident raised questions on continuity and sustainability in a world rapidly moving towards being highly dependent on digital channels and platforms. Source: Digital Cooperation Organization

Ballard Partners is expanding its international presence with a new office in Riyadh, Saudi Arabia. Zaki also serves as Chair of the Board of the Middle East Policy Council and is a media contributor as a subject matter expert on current events in the Middle East. “I am thrilled to be joining Ballard Partners and leading the firm’s new office in Riyadh,” said Zaki. He currently serves as the President of the S. Daniel Abraham Center for Middle East Peace in Washington. “I look forward to helping our clients navigate the dynamic and rapidly evolving landscape of the Middle East.

And the latest data from Tunisian think tank FTDES is here to support the concerns of Italy. Migrants say their struggles in Tunisia makes Italy inevitably more attractive. Tunisia is not the only country in North Africa that these migrants find unwelcoming. Nearly 80% of those surveyed see Italy as their main option to escape adaptation problems and hardship in North Africa. FTDES notes that 77% of migrants report having experienced violence upon arrival in Tunisia, mainly verbal (67%) and physical (56.7%).

Countdown to the TID Rollover Event: As of 24 July 2024, we have less than half a year to go. There are only 4 months left until the TID Rollover event on 24 November 2024. To all Utilities and Municipalities gearing up for this crucial project. Make sure you’re not left behind. Visit our website for more: www.sts.org.za#24November2024#PrepaidMetering#TIDRollover#STSEdition2#SmartMetering

The Group of Friends on Artificial Intelligence for Sustainable Development, co-chaired by Morocco and the United States, organized, in New York, a high-level event on the opportunities offered by artificial intelligence (AI) to support sustainable development in Africa. The event, titled “AI: An exponential opportunity for sustainable development in Africa”, was held Monday at the UN headquarters, in New York. “Whether improving healthcare delivery, agricultural productivity, fostering educational inclusion or driving economic growth, AI has already proven itself as a powerful enabler of sustainable development,” she argued. This event was marked by the adoption of the Rabat African Consensus on Artificial Intelligence. The Executive President of the AI Movement Center further highlighted the importance of developing trustworthy AI technologies that take into account ethical considerations, fairness, transparency, and accountability.

Bee Vectoring Technologies International (TSE:BEE) has released an update. Bee Vectoring Technologies International Inc. is expanding into North Africa and the Middle East through key partnerships aimed at commercializing its innovative bee vectoring system and biological control agent. The company’s system has proven effective in trials, particularly in Turkey with greenhouse tomatoes, and is now moving towards full-country registration in several countries. These strategic collaborations are set to enhance BVT’s market presence quickly and efficiently. For further insights into TSE:BEE stock, check out TipRanks’ Stock Analysis page.

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North Africa is experiencing record temperatures, and yet, despite the debilitating climate, infrastructure projects continue to roll out regardless. This is one of the infrastructure projects that Algeria has undertaken to move natural resources from the producing region to treatment facilities and international markets. This is the case of the rail line transporting phosphates from the Tébessa deposit to the port of Annaba. In neighboring Morocco, rail company ONCF ambitions to expand the high-speed rail network Al Boraq, to connect more cities. The Hassi R’Mel Gas Project is characterized by Baker Hughs as a project aimed at “enhancing Italy, Europe’s energy strategy” for Algeria.

South Africa finds itself in uncharted waters as its people contemplate a future without a dominant African National Congress (ANC). Although locating itself to the left of the ANC, the party lacks a coherent policy platform. This result obliterated some foundational assumptions that shaped South Africa’s political landscape over the past 30 years. Despite damage from ANC state capture, the executive and legislative arms of the state still function, albeit far from optimally, in executing their respective mandates. Despite this, pressure and desperation from many South Americans mounted on all arms of the state for a solution.

The trial clearly showed that the BVT bee vectoring system, used with bumblebees and a third-party microbe, is incredibly effective in precisely delivering a beneficial microbe to greenhouse tomatoes. “The trials were extremely successful,” said Christoph Lehnen, BVT Business Manager for Europe, Africa and the Middle East. Lidorr Elements has commenced trials of CR-7 on almonds using the Company’s bee vectoring system for bumblebees, comparing it with traditional spray applications. Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement.

SEOUL, South Korea (AP) — Trash carried by at least one North Korean balloon fell on the South Korean presidential compound on Wednesday, raising worries about the security of key South Korean facilities during North Korean provocations. The rubbish that landed on the presidential compound in central Seoul contained no dangerous material and no one was hurt, South Korea’s presidential security service said. Jung said South Korea could use recently developed laser weapons to intercept North Korean balloons. South Korean Joint Chiefs of Staff spokesperson Lee Sung Joon said the current South Korean broadcasts include K-pop songs and news on South Korean economic development. But last week, Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un, threatened new countermeasures against South Korean civilian leafleting, warning that South Korean “scum” must be ready to pay “a gruesome and dear price” for their actions.

MENAP-SCI (Middle East, North Africa, and Pakistan Self Care Industry), a non-profit organisation dedicated to promoting self-care in the MENAP region, commemorates International Self-Care Day today, July 24, 2024. This year’s Self-Care month marks the 5th anniversary of the World Health Organisation’s (WHO) first global guideline on self-care interventions for health and well-being. Self-Care Month is an opportunity to raise awareness about self-care, acknowledge its benefits and achievements, and call for commitments to expand health systems to include self-care. MENAP-SCI aligns with the WHO’s guideline on self-care interventions, bridging gaps between communities, primary care, and health systems. Self-care interventions do not replace health systems but rather enhance and complement them, providing a more comprehensive healthcare experience.

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Nigerian authorities fined Meta, the mother company of Facebook, whatsApp and Instagram, 220 million dollars for breaching consumer and data protection laws as well as abusing its position as market leader. The fine was announced following a 34-month investigation by Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC). Meta is also accused of sharing Nigerians’ personal data without authorization and denying Nigerians the right to determine how their data is usedFCCPC chief executive officer Adamu Abdullahi said investigations carried out by the commission showed that Meta had engaged in “invasive practices against data subjects in Nigeria.”Abdullahi said the tech giant must “comply with the prevailing law and cease the exploitation of Nigerian consumers and their market abuse.”The commission ordered the firm to “desist from future similar or other conduct/practices that do not meet nationally applicable standards.”