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US approves $500m military vehicle maintenance package for Saudi Arabia

23 September 2023; MEMO: The US State Department has approved a potential $500 million deal to provide maintenance support for Saudi Arabia’s fleet of combat vehicles, the Defence Security Cooperation Agency announced yesterday.

The deal would cover spare parts, components and repair services for vehicles, including Abrams tanks and Bradley Fighting Vehicles operated by the Royal Saudi Land Forces.

Turkiye pushes interest rates up to highest level since 2003

23 September 2023; MEMO: The Turkish Central Bank has, once again, hiked interest rates in the country, pushing its policy rate up five points to 30 per cent, in a continued effort to curb soaring inflation, AP reports.

According to the report, the Bank said, on Thursday, that the increase was necessary in the face of services inflation and surging oil prices. It means that the country’s interest rate is sitting at a level not seen since 2003.

Kuwait inks deal to acquire 40% of offshore Egypt energy exploration project

20 September 2023; MEMO: Kuwait’s Foreign Petroleum Exploration Company (KUFPEC) signed an agreement with a Shell subsidiary to acquire 40 per cent of Egypt’s Nile Delta offshore block 3, KUNA reported today.

The Kuwaiti news agency quoted Mohammad Al-Haimar, KUFPEC’s CEO, saying the move was in line with the approach to expand operations with “our international partners that are active in special exploration basins.”

Egypt to buy Kazakh wheat from Emirati funds

21 September 2023; MEMO: Egypt is in talks with an Abu Dhabi-based bank for a loan facility that would finance wheat purchases from Kazakhstan, three traders told Reuters.

The move could give Egypt a cheap alternative to grain from Russia, which has supplied an increasing share of Egypt’s wheat since last year but recently blocked a deal for a purchase below an unofficial price floor for wheat purchases, traders say.

Turkey: Erdogan says he does not agree with others' negative approach toward Putin

21 September 2023; MEMO: Turkish President, Tayyip Erdogan, said he does not agree with the negative approach other leaders are showing towards his Russian counterpart, Vladimir Putin, Turkish broadcasters quoted him as saying on Thursday, Reuters reports.

Israel withheld $800m in Palestinian funds since 2019: minister

15 September 2023; MEMO: Palestinian Finance Minister Shukri Bishara yesterday stressed the need for the donors’ meeting to produce serious results and work mechanisms that would exert pressure on the Israeli occupation government to release Palestinian funds that have been withheld since 2019, and which currently amount to around $800 million.

Saudi made it clear Palestine is part of any deal with Israel; Blinken

15 September 2023; MEMO: US Secretary of State Anthony Blinken yesterday revealed that Saudi Arabia has made it clear to the United States that issues related to the Palestinians will be an essential part of any future agreement with Israel.

“It is also clear from what we hear from the Saudis that if this process is to move forward, the Palestinian piece is going to be very important too,” Blinken said, adding, “Normalisation cannot come at the expense of the Palestinian cause.”

US sanctions 5 Turkiye firms for 'supporting' Moscow

15 September 2023; MEMO: The Biden administration, on Thursday, imposed sanctions on five Turkish companies and a Turkish national, accusing them of helping Russia evade sanctions and supporting Moscow in its war against Ukraine, Reuters reports.

According to the report, the companies are accused of helping repair sanctioned vessels tied to Russia’s Defence Ministry and helping the transfer of “dual-use goods”.

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