Africa Cup of Nations Needs Action on Field to Provide Good News

A man and a child walk past another man finishing a mural of Mohamed Salah in Cairo. Photograph: Khaled Desouki/AFP/Getty Images
A man and a child walk past another man finishing a mural of Mohamed Salah in Cairo. Photograph: Khaled Desouki/AFP/Getty Images
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Africa Cup of Nations Needs Action on Field to Provide Good News

A man and a child walk past another man finishing a mural of Mohamed Salah in Cairo. Photograph: Khaled Desouki/AFP/Getty Images
A man and a child walk past another man finishing a mural of Mohamed Salah in Cairo. Photograph: Khaled Desouki/AFP/Getty Images

The blue and orange seats of Cairo International Stadium make an attractive spectacle and the playing surface, at least when set against the ferocious heat, looks verdant. Every tournament eve brings its flutter of anticipation; that moment when reservations take a back seat and the simple joy of a month’s football takes root. It applies to the Africa Cup of Nations as much as any other major event: one glance at the list of names involved suggests that, if everybody is close to their best, a competition that looks impossible to call will be genuinely thrilling.

When Egypt are roared on to the pitch for Friday’s opener against Zimbabwe, the organizers’ sense of escapism may be even more profound. A Cup of Nations that will have few serious rivals in the global calendar for casual fans’ attention during its latter stages presents an open goal for reviving a profile that has flagged in recent years, but the buildup could hardly have been more chaotic. The Confederation of African Football is effectively on life support and, where the broader health of the continent’s football is concerned, four weeks of sparkling action may do little more than distract from the deeper clean required elsewhere.

“I am a citizen of the islands; we, the people of our islands, know how to hold on in the middle of storms,” the Caf president, Ahmad Ahmad, who is Madagascan, said on Thursday. Even if he is equipped to do that, the questions over his suitability for other facets of the job are inescapable.

This week Fifa tasked Fatma Samoura, its secretary general, with conducting a “full forensic audit” of Caf for six months from 1 August after concerns concerning its governance. Ahmad said he asked Samoura to help, confirming the sentiment of a joint Fifa-Caf statement released the same day.

Aleksander Ceferin, the Uefa president, has refused to endorse Samoura’s clean-up role, citing a potential conflict of interest, but there is little doubt that her to-do list looks intimidatingly long.

On 6 June, Ahmad was arrested in Paris as part of an investigation into corruption, breach of trust and forgery. He was released without charge the following day and the French-led investigation into an alleged breach of a contract with Puma continues. Fifa’s ethics commission is also investigating Ahmad over allegations of financial mismanagement and sexual harassment. He has strongly denied any wrongdoing.

However those situations play out, a major review appears long overdue. Nobody would have envied Ahmad’s brief in following the scandal-ridden reign of Issa Hayatou on his appointment in 2017, but the fortunes of his organization have plumbed uncharted depths since then.

It all leaves Caf in urgent need of some good news, particularly when its most recent gala event – the second leg of last month’s Champions League final between Wydad Casablanca and Espérance Sportive de Tunis – ended in farce owing to a row over VAR failure and will controversially be replayed at a neutral venue this summer.

At first glance good news looks thin on the ground: privately, senior officials have not been shy to request forbearance as the Cup of Nations finds its feet, with venues still being prepared and many journalists still to receive their accreditation to cover the event, pointing out that organizing a 24-team tournament at five months’ notice is nobody’s idea of fun.

That was the task Caf set itself in January when granting Egypt the event, newly expanded from 16 teams, after Cameroon was stripped of hosting rights. The hard work of those on the ground should not be underestimated and Cairo, where the major highways are festooned with banners and billboards promoting the spectacle, has readily embraced its opportunity.

The hope is that Africa’s most talented footballers will do that too. They are all here and it means the tournament has a fighting chance of being remembered positively. The Liverpool forwards Mohamed Salah and Sadio Mané, unquestionably two of the best in the world, are expected to take Egypt and Senegal all the way; they are the favorites but Morocco, conducted by Hakim Ziyech and coached by the two-times winner Hervé Renard, cannot be discounted and Riyad Mahrez should help ensure Algeria stay in contention.

Nigeria are back after a six-year absence while a new Ivory Coast generation, fired by the brilliant Lille winger Nicolas Pépé, may fare significantly better than the odds suggest. Cameroon, surprise winners in 2017, will be hard pressed to repeat the feat, but retain allure under the management of Clarence Seedorf.

Then there are the minnows. If the bloated format risks making the group stage a chore — particularly in temperatures that will do little for intense football and have raised serious concerns over players’ health — it will aid familiarisation with some new names. Burundi, Madagascar, and Mauritania are new to the Cup of Nations; all are here on merit and came this far by playing progressive, enterprising football.

If Africa’s flop at the World Cup suggested its top teams have stagnated, standards lower down have shot up and created an environment that should be tight and competitive.

If that proves the case, those reflexes of early excitement may continue until the final on 19 July. Gianni Infantino will be watching from those colorful stands when the tournament kicks off; he would be excused the demeanor of a concerned parent but African football may yet seize its chance to take the spotlight for the right reasons.

(The Guardian)



Saudi Energy Minister Says Kingdom Remains Reliable, Flexible Supplier

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
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Saudi Energy Minister Says Kingdom Remains Reliable, Flexible Supplier

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)

Saudi Energy Minister Prince Abdulaziz bin Salman seized the spotlight at a high-level dialogue session held during the 2026 St. Petersburg International Economic Forum, breaking a strategic silence that had become a focus of questions and a gauge for global market expectations.

Speaking on Thursday, he delivered carefully calibrated messages to the energy sector, stressing that the world urgently needs stability in energy markets and declaring with confidence that the Kingdom is a flexible energy supplier, was, and will remain so under all circumstances.

In his remarks during a special session at the forum, where the Kingdom is taking part as “main guest of honor” as the two countries mark the centenary of diplomatic relations, Prince Abdulaziz acknowledged that current geopolitical events in the Middle East were distracting attention and obstructing focus on Saudi Arabia’s strategic priorities, foremost among them the goals of Vision 2030.

He described the situation as a source of considerable frustration.

Even so, he sent a strong message of reassurance to global markets, saying in a firm tone that it was their duty, and that of every Saudi citizen, to defy this difficult environment and continue to pursue their ambitions.

The Kingdom has the capability and confidence to address challenges and demonstrate its economic and operational resilience, he added.

He pointed to what he described as the success of Saudi Arabia’s infrastructure and logistics system in turning tragedies into opportunities, and in managing the Hajj season with unprecedented success despite the surrounding regional turmoil.

On the partnership with Moscow, the Saudi Energy Minister announced the signing of 30 new cooperation agreements between the private sectors in the two countries across fields including industry, education, tourism, and energy.

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)

Prince Abdulaziz said the Kingdom will sign agreements across various fields and that there are no limits or restrictions on joint cooperation.

He added that the strategic mindset in Riyadh and Moscow had moved beyond being merely “producers of oil or gas” to “manufacturing and supplying energy in its comprehensive sense,” including hydrocarbons and the export of electrons.

In an explanation of his earlier position, which had kept oil traders on edge, Prince Abdulaziz said he had deliberately remained silent during the period that witnessed one of the most severe global energy crises.

A minister is required to maintain his composure and not panic, because panic makes a person lose control of the narrative, he explained.

He moved on to express his intention to maintain silence, because silence amid many unknowns is a message and a humble acknowledgment that reality is changing quickly, and is a form of respect for oneself and for others.

He concluded his assessment of current market conditions with a pointed remark reflecting the scale of uncertainty clouding the global scene.

“The situation we’re going through now does make a point here, which is the world needs every molecule of energy, and every form of stabilization to this energy, because without energy security, you will lose sustainability,” the Saudi minister said.

“There are so many moving parts, there are so many unknowns, there are things that you think have become a reality, but then you wake up in the next morning and the reality is no longer a reality.”

Novak says the market faces a 12 million barrel shortfall

For his part, Russian Deputy Prime Minister Alexander Novak described the current crisis in the international oil market as unprecedented, with no parallel even in the 20th century.

Novak said Russia would deal with the Western sanctions imposed on it with flexibility and complete calm, given its position as a key supplier of energy resources to the international market.

He warned of a large, hidden shortfall in global supply, estimated at about 12 million barrels per day that are currently not reaching the market.

He said global markets had not yet felt the full impact of the energy crisis caused by the Middle East conflict because the situation was being managed through withdrawals from surplus reserve inventories.

Novak cautioned that if the conflict continues and Gulf states delay increasing production, the market will face an acute and immediate physical shortage of supplies within a few months.

In his analysis of the producers’ alliance, Novak stressed that the OPEC+ agreement remains a key driver of energy market direction.

He said its members control more than 50% of global production and more than 40% of total exports, adding that the agreements have proven highly efficient at curbing volatility and reducing market fluctuations.

Novak said current data gave countries an opportunity to accelerate compliance, describing the existing approach as a “standard and normal course” that allows countries that had previously exceeded their quotas for any reason to implement compensation plans for their earlier overproduction more quickly.

On Russia, Novak said technical analytical calculations to determine Russia’s maximum production ceiling are continuing in cooperation with the companies concerned, and would be discussed with partners by the end of 2026.

He expected Moscow to effectively reach its assigned production levels this year under the agreed quotas, despite current output being slightly lower than at the start of the year because several refineries were undergoing “emergency and unscheduled maintenance.”

Expectations of strong demand

OPEC Secretary General Haitham Al Ghais said the organization expects robust oil demand growth and would not change its estimates despite the conflict in the Middle East and the closure of the Strait of Hormuz.

“Despite all the commentary out ⁠there that oil demand is declining, we have not registered signs of that yet,” Al Ghais said.

“We still see robust demand growth at 1.2 million barrels a day for this year,” he said.

He also said investment in the oil sector should not be affected by "one-off events" that may occur anywhere in the world.

Egyptian Minister of Petroleum and Mineral Resources Karim Badawi told the session that renewable energy is a top priority to reduce dependence on natural gas. He said Egypt is working hard to increase electricity generation from wind and hydropower to secure a sustainable energy mix.

Markets hold their breath before the Sunday marathon

The remarks made at the forum on Thursday carry major significance as a prelude and practical indicator of the direction of leading producers ahead of decisive oil-related meetings next Sunday.

That day will see three consecutive meetings, beginning with OPEC’s administrative conference, followed by the 66th meeting of the Joint Ministerial Monitoring Committee, or JMMC, which is responsible for monitoring compliance levels, consensus, and the approval of current compensation plans.

Investors are closely watching the 41st ministerial meeting of the OPEC+ alliance. Informed sources said the alliance is likely to approve an additional gradual increase in its targets for next July.


OPEC Secretary General: Oil Demand to Remain Robust, No Change to Estimates

OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
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OPEC Secretary General: Oil Demand to Remain Robust, No Change to Estimates

OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)

OPEC expects robust oil demand growth and is not changing its estimates, Secretary General Haitham Al Ghais said on Thursday at the St. Petersburg International Economic Forum, despite the Middle East conflict and closure of the ⁠Strait of Hormuz.

"Despite ⁠all the commentary out there that oil demand is declining, we have not registered signs of that yet," ⁠Reuters quoted Al Ghais as saying.

"We still see robust demand growth at 1.2 million barrels a day for this year," he said.

He also said that investments in the oil industry should not be affected by "one-off events" that happen ⁠anywhere ⁠in the world.

"We need to invest well ahead of time to be prepared for the demand that we see in the future," he said.


Egypt Plans to List More State-owned Companies, Replace In-kind Subsidies with Cash

Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
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Egypt Plans to List More State-owned Companies, Replace In-kind Subsidies with Cash

Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)

Egypt aims to list four to five state-owned companies on the Cairo stock exchange before the end of the year as part of its state asset sales strategy, Prime Minister Mostafa Madbouly said on Thursday.

The government also plans to shift from in-kind subsidies to cash subsidies during the coming financial year, as part of efforts to improve the targeting of social support, Madbouly said at a press conference, Reuters reported.

It does not aim to reduce the monetary value of subsidies but rather ensure they reach those entitled to receive them, he added.

More than 60 million people receive subsidised essential commodities through state-run outlets, while at least 10 million others benefit from subsidised bread.