World Bulletin/News Desk
Electricity Minister Ahmed Imam on Wednesday said that the OPEC Fund for International Development (OFID) had agreed to help finance three major electricity projects in Egypt.
Speaking by phone, the minister told Anadolu Agency that the OFID had agreed in principle to contribute to the funding of the three projects and would formally sign the deal in October.
The minister did not provide details about the size of the fund's expected contributions.
Established by OPEC member states in 1976, OFID is a joint initiative devoted to providing aid to developing countries.
In recent months, Egypt has suffered numerous electricity cuts due to high summertime energy consumption and shortages of the fuel needed to run the country's power plants.
The Egyptian government is currently looking into means of reducing a widening electricity production deficit, which officials put at between 2,000 and 2,500 megawatts daily.
Under Lufthansa's proposals, pilots would still be able to retire early, but the age would gradually increase to 60 from 55.
Labor tension on the rise as high inflation reduces spending power.
Third quarter growth was lowest in more than five years, threatening annual target
De Margerie was killed when a business jet collided with a snow plough during takeoff at Moscow's Vnukovo International Airport overnight, the company and airport officials said.
Stabilised political and security situation, the launch of government initiatives toward fiscal consolidation and strong support from external donors are some of the reasons given for improved economic outlook.
Norway will not supply gas to Europe in case of supplies being cut by Russia, says Norwegian Energy Minister Lien
A fall in global oil prices, down more than 20 percent from this year's June high, means that ending costly diesel subsidies will save the government money without hurting consumers.
EU officials said the gas talks would continue in Brussels next week, with Poroshenko telling reporters that the financing still needed to be resolved.
The food-producing regions of Guinea, Sierra Leone and Liberia in West Africa have been severely affected by the worst outbreak on record of the viral haemorrhagic fever
Fall in crude oil prices will effect Iran's oil industry more than Western sanctions
Widodo currently plans to raise the price of both gasoline and diesel by 3,000 rupiah ($0.25) per litre by November, the advisor said.
Mario Pezzini and Romano Prodi jointly emphasized that Africa should be of priority for European Union’s future development policies.
Analysts say that some form of disruption of Russian flows to the EU is likely this winter
Chrysler is recalling about 470,000 cars and SUVs globally from model years 2011 through 2014 and equipped with a 3.6 liter engine and a 160 amp alternator
Oil prices continue to slide with surging production and weakening economic news. Venezuela has called for an emergency meeting of OPEC
Only one in four Russians said the measures would be harmful to the economy. About one in four of those polled also said sanctions could pose serious problems for them or their families