Egypt's Morsi to attend summit in Iran
Source: BI-ME with AFP , Author: Posted by BI-ME staff
Posted: Sun August 19, 2012 9:19 am
china wholesale market

EGYPT. Egyptian President Mohamed Morsi plans to attend a summit in Iran this month, state media reported on Saturday, on the first such visit since Cairo severed ties with Tehran more than three decades ago.

The official MENA news agency quoted a source in the presidency as saying Morsi will attend the Non-Aligned Movement summit in Tehran on August 30-31 at which Egypt will transfer the bloc's rotating leadership to Iran.

Cairo and Tehran severed diplomatic relations after the 1979 Islamic revolution in Iran, and Egypt has accused Tehran of backing militants on its turf.

Morsi, the country's first Islamist president, has been expected to improve ties with Tehran since his inauguration on June 30. It is unclear whether Morsi will hold two-way meetings with Iranian officials during the visit.

Under ousted president Hosni Mubarak, several attempts were by trade ministers and business leaders to bolster economic ties. But they stirred objections from the foreign ministry and intelligence circles, officials said at the time.

On Thursday, the United States said it had told Secretary General Ban Ki-moon that the NAM summit in Iran sent a "strange signal" after Tehran reported that the UN chief would also attend.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: January 25, 2015
INTERNATIONAL. Gold priced in euros was the winner, both on the week but also in terms of its overall performance so far this month; Both Brent and WTI crude oil have settled into a US$5 range.
date:Posted: January 24, 2015
QATAR. Deflation is starting to spread into lower global consumer prices, depressed wages and, to a lesser extent, softer asset prices. Unless an appropriate fiscal response is found, this disinflationary dynamics is likely to continue in 2015 and possibly beyond.
date:Posted: January 23, 2015
KUWAIT. Strong growth in American supply boost non-OPEC output by 3.65% in 2014; OPEC not opting for output cut to halt drop in price; Downside risks prevail as world supply increases.
UAE. Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year, but visitors from elsewhere look set to make up the numbers at the annual retail bonanza.
dhgate