Emirates Post Group adds Israel to its global operations network

Emirates Post Group adds Israel to its global operations network
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Updated 13 January 2021

Emirates Post Group adds Israel to its global operations network

Emirates Post Group adds Israel to its global operations network

DUBAI: The UAE’s Emirates Post Group has added Israel to its global operations network, according to state-run WAM news agency. 

The organization has tied up with its local counterpart, Israel Post, to facilitate access to cities and destinations across the country, providing a reliable channel to the new market.

The group said the move was a step to promote further trade and communication between both countries.

"Our service will complement the promising business and trade relations between the two countries and will bolster tolerance, communication, and exchange between the two cultures,” said Abdulla M. Alashram, Group CEO of Emirates Post Group Company.

“The UAE and Israel are both forward-thinking countries and the partnership with Israel Post will also lead to an exchange of ideas, encourage innovation, and help develop the sector.”

The expansion would allow customers from the UAE to use postal and international courier services to send items to Israel.

The UAE and Israel officially agreed to establish full diplomatic relations in September.


IMF: Iraq has requested emergency assistance

IMF: Iraq has requested emergency assistance
Updated 36 min 36 sec ago

IMF: Iraq has requested emergency assistance

IMF: Iraq has requested emergency assistance
  • The OPEC member’s economy has only a small manufacturing base and almost all goods are dollar-priced imports

Iraq has requested emergency assistance from the International Monetary Fund and talks are ongoing between the parties, the IMF said late on Sunday.
Iraqi Finance Minister Ali Allawi told Bloomberg News earlier that Iraq was in talks with the IMF for a $6 billion loan package.
“The Iraqi authorities have requested emergency assistance from the IMF under the Rapid Financing Instrument, and indicated their intention to also request a longer-term arrangement with the Fund in support of planned economic reforms,” an IMF representative said in an emailed statement.
“Discussions of the authorities’ request for emergency assistance are ongoing.”
The IMF’s Rapid Financing Instrument provides quick financial assistance, which is available to all member countries facing an urgent balance-of-payments need.
Financial assistance under the RFI is provided without the need for a full-fledged program or review, according to the IMF website https://bit.ly/3c6YubX.
Iraq may ask for an additional $4 billion in low-cost loans through another program linked to government reforms, Allawi said on Sunday.
Iraq devalued the dinar last month after a collapse in global oil prices, a major source of Iraq’s financial resources.
Allawi told Bloomberg that Iraq also planned other types of funding to help plug the budget gap. Once the spending plan was approved, the government would move to issue $5 billion in domestic bonds to expand its financial base.
The OPEC member’s economy has only a small manufacturing base and almost all goods are dollar-priced imports.