Jordan WEF event to focus on ‘new platforms of cooperation’

Saudi Energy Minister Khalid Al-Falih will speak at the 17th World Economic Forum on the Middle East and North Africa, in Jordan. (Reuters)
Updated 05 April 2019
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Jordan WEF event to focus on ‘new platforms of cooperation’

  • Speakers include King Abdullah of Jordan, Saudi Energy Minister Khalid Al-Falih and Antonio Guterres, secretary-general of the UN
  • The event’s 100 Arab Startups initiative will bring together entrepreneurs from across the region, including 10 from Saudi Arabia

LONDON: This weekend’s World Economic Forum meeting in Jordan will address “new platforms of cooperation” for the Arab world, organizers said on Wednesday.

The 17th World Economic Forum on the Middle East and North Africa is set to take place at the Dead Sea on April 6-7, and bring together more than 1,000 leaders of government, business, civil society, faith and academia.

Speakers include King Abdullah of Jordan, Saudi Energy Minister Khalid Al-Falih and Antonio Guterres, secretary-general of the UN.

“The meeting will focus on four transformational imperatives: Shaping a new economic and social model for the region; environmental stewardship in the Arab world; finding common ground in a multiconceptual world; and the Fourth Industrial Revolution in the Arab world,” organizers said.

Mirek Dusek, deputy head of the Center for Geopolitical and Regional Affairs and Member of the Executive Committee at the World Economic Forum, said the meeting comes at an important time for the region.

“At this meeting, we will hold several strategic dialogues, with particular attention on the relationship between the public, private and civic sectors, the impact of the Fourth Industrial Revolution on skills and jobs, and new initiatives to help resolve long-standing conflicts,” he said.

“The region is at a pivotal time of taking the bold decisions necessary to future-proof its societies and economies.”

The event’s 100 Arab Startups initiative will bring together entrepreneurs from across the region, including 10 from Saudi Arabia.


Egypt agrees to pay Israel $500 million to end gas dispute

Updated 55 min 31 sec ago
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Egypt agrees to pay Israel $500 million to end gas dispute

CAIRO: Egypt says it has struck a deal with the state-owned Israel Electric Corp. to settle a fine for halting deliveries of natural gas.
A statement from Egypt’s Petroleum Ministry said the settlement deal, which was signed Sunday, would reduce the $1.7 billion fine to $500 million.
It says Egypt will pay the amount over eight and a half years.
In return, the Israeli company would drop other claims resulting from a 2015 arbitration decision.
Israel Electric had sued the state-owned Egyptian General Petroleum Corporation and Egyptian Natural Gas after a 2005 deal to export natural gas to Israel collapsed in 2012 amid militant attacks on a pipeline in the Sinai Peninsula, where Egypt has been battling insurgency for years.
Israel relied on the pipeline to meet its energy needs.