Tag: Egypt
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Southeast Asian Vacation Spots Wait for Chinese Tourists Who Seem More Content to Stay Home
The number of Chinese tourists that went abroad during last week’s normally bustling holiday break was significantly below pre-pandemic levels and even fell short of official forecasts, raising more concerns about the country’s tightened consumer spending. While a rare confluence of ...
Odd One Out: Argentina in BRICS?
By Bruno Binetti The decision of the BRICS to invite Argentina to become a full member in 2024 came as a surprise even to the Argentine government. President Alberto Fernández had lobbied to enter the club, but the expectations were so low ...
Africa’s Prominent Role in the New “BRICS6”
The once lifeless BRICS bloc got a big boost of energy this week with the addition of six new members including two additional African states from Egypt and Ethiopia. Together, African countries will now account for nearly a third of the ...
The BRICS Gets Bigger. Six New Members Added to the Bloc
The BRICS group is going to need a new name to accommodate the admission of six countries that were officially invited to join the bloc as of January 1, 2024: 1) Argentina2) Egypt3) Ethiopia4) Iran5) Saudi Arabia
Algerian President In China to Push BRICS Membership, Economic Engagement
Algeria’s President Abdelmajid Tebboune is on a state visit to China. The visit, which will occupy most of the week, is seen as an attempt to raise Algeria’s international prominence and diversify its economy. Tebboune, who spent two days in Qatar on the way ...
Egypt’s Suez Canal Economic Zone Attracts Chinese Investment Bonanza
Egypt’s Chinese-built Suez Canal Economic Zone attracted a whopping $3 billion in Chinese investments, according to its chairperson Walid Gamal El-Din following his visit to Beijing in late May. The deals cover a broad range of industries, from apparel to power ...
WEEK IN REVIEW: Official Navigation Beacons Placed Close to Contested Spratly Islands in South China Sea
China’s Transport Ministry confirmed that three official navigation beacons have been placed close to the contested Spratly Islands in the South China Sea. This follows a similar positioning by the Philippines as the countries pursue competing claims to the island group. Meanwhile, a Chinese naval vessel is on ...
Hunan’s Trade With Africa is Up 90% in 2023
The central Chinese province of Hunan has spent years positioning itself as an African trading hub, and according to the latest customs data, its efforts are now paying significant dividends. Trade between the province and African countries surged by 90% in ...
Sudan Crisis is Adding to China’s Debt Woes in Africa
As the civil war in Sudan threatens to turn into a regional conflict, it could take a significant chunk of Chinese financing with it. At least $5 billion worth of Chinese loans to Sudan are now in danger as hundreds of thousands ...
New Report: China Is Now the Major Lender of Last Resort for Developing Countries
China has spent $240 billion in rescue payments to 22 economically distressed Belt and Road economies between 2008 and 2021. A new report published by AidData, the research center at the College of William and Mary, and co-authored with researchers at the ...
Egypt’s Chinese Green Hydrogen Project Could be a Blueprint for Africa
Egypt and China are seeking to consolidate economic and investment cooperation in various areas of common interest, including clean energy through the China hydrogen project. The China International Energy Group (CIEG) intends to establish a $5 to $8 billion project ...
Chinese Blockbuster Wandering Earth II Extends Africa Release With Premiere in Egypt
The Chinese sci-fi spectacle, The Wandering Earth II, is slowly turning into a global blockbuster. The film debuted to enthusiastic audiences in Egypt after getting similarly positive responses in other African countries, including South Africa, Zambia and Mozambique.