Arab League Organization for Agricultural Development: Supply Chains, Previous Pledges Likely to be Disrupted

Director of the Arab League’s Organization for Agricultural Development (AOAD), Dr. Ibrahim El-Dukheri. (AOAD)
Director of the Arab League’s Organization for Agricultural Development (AOAD), Dr. Ibrahim El-Dukheri. (AOAD)
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Arab League Organization for Agricultural Development: Supply Chains, Previous Pledges Likely to be Disrupted

Director of the Arab League’s Organization for Agricultural Development (AOAD), Dr. Ibrahim El-Dukheri. (AOAD)
Director of the Arab League’s Organization for Agricultural Development (AOAD), Dr. Ibrahim El-Dukheri. (AOAD)

The Director of the Arab League’s Organization for Agricultural Development (AOAD), Dr. Ibrahim El-Dukheri, warned that food security in the Arab world was shrouded in ambiguity, adding the region would not be safe from the repercussions of the ongoing war in Europe.

In an interview with Asharq Al-Awsat, El-Dukheri noted that supply chains would weaken, or sometimes interrupt, especially if the Russian-Ukrainian war continues.

He stressed that the Nouakchott Declaration, which was recently adopted during the 37th General Assembly meetings in the Mauritanian capital, had highlighted the issue of food insecurity, which would worsen with the war in Europe, the Covid-19 pandemic and climate change.

Immediate action

“Urgent measures must be taken to guarantee food security in the Arab region and maintain supply chains,” El-Dukheri underlined, adding: “In this context, we presented what was known as the Permanent Program for Arab Food Security, which is an integrated study that was conducted during the past two years in coordination with the General Secretariat of the League of Arab States and Arab foreign ministers.”

He pointed to the sustainable food security initiative, which was launched at the same time as the Nouakchott Declaration and detailed the arrangements required to achieve public food security.

Production increase

The most important points agreed upon, according to El-Dukheri, include the launch of the Sustainable Arab Agricultural Development Strategy 2030, and the Arab Program for Sustaining Food Security, which aims to increase productivity and agricultural production levels of basic food commodities by a minimum of 30% during the next ten years.

This goal can be achieved through the use of technological packages and the correct standards for inputs, especially drought and salt tolerant seeds and fertilizers, in addition to the development of irrigation systems for irrigated and rain-fed crops, the expansion of the use of agricultural mechanization, and the adoption of smart agriculture.

The AOAD director said the declaration focused on seeking to find a specialized financing mechanism for agricultural development and Arab food security, to implement the projects of the Arab Program for the Sustainability of Food Security, which would be led by the AOAD in close cooperation and coordination with the relevant Arab and regional countries and organizations.

Arab investments

According to El-Dukheri, the Arab Program for the Sustainability of Food Security focuses on investments and trade.

He explained that the program looks at the existing agricultural infrastructure in order to increase the efficiency of the various modern irrigation systems, with the aim to expand water capacities and subsequently, promote agricultural investments in the sector of rain-fed crops.

“This gives us a wide ability to increase the volume of total production in the Arab world, while also improving agricultural integration, by looking at the mechanisms of intra-Arab trade between countries,” the Arab official remarked.

Current situation

Furthermore, he stressed that the ongoing war between Russia and Ukraine has two major implications.

El-Dukheri pointed to great fear over the interruption of supply chains, as “we know that Russia and Ukraine are countries that produce a major commodity, such as wheat.”

Thus, supply chains will deteriorate or be interrupted at times, he warned.

El-Dukheri noted that with the continuation of the war, many European countries would think about sustaining their national needs and perhaps fail to meet export pledges that were made before the eruption of the conflict.

Other options

He stressed that food security in the Arab world was shrouded in ambiguity. He added that the region would not be safe from the repercussions of the crisis in the near term, as prices of food are likely to soar, making them inaccessible for a large number of people.

As for the alternatives, including the option to resort to imports from the United States or Canada - given that they are wheat-producing countries – El-Dukheri explained that the shipping costs would be very high and would thus increase the prices of the products.

Most affected countries

The most affected countries in the Arab region are those in which the levels of income or development are limited, he explained.

The Arab region relies mostly on imports. Consequently, Gulf states, which enjoy financial and security stability, would be less impacted than countries that suffer from economic hardship, conflicts and instability, according to El-Dukheri.

Investment opportunities

El-Dukheri said the sustainable program for Arab food security presented a clear and comprehensive vision that took into consideration the capabilities of the Arab world in terms of the existence of suitable lands, rainfall rates, water resources, weather, and viable crops, according to a comprehensive and integrated study.

He pointed to another supporting document under the title, Finance Mechanism, which explains the means to support the program through “national and regional agencies,” including the Union of Arab Banks, Arab Chambers of Commerce, and all organizations that operate under the umbrella of the General Secretariat of the Arab League.

“It is necessary to have arrangements to reduce the gap and differences between the Arab countries,” El-Dukheri urged, explaining that the program was aimed at increasing self-sufficiency to 50%, while the rest would be imported from outside the Arab region.



SpaceX Leveraged Fund Providers Hit by Day-one Launch Setback, Sources Say

The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
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SpaceX Leveraged Fund Providers Hit by Day-one Launch Setback, Sources Say

The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration

Asset managers eager to roll out leveraged exchange-traded funds tied to SpaceX on its first trading day have been told to delay the launch until Monday, four sources familiar with the matter said.

The setback denies speculators and traders a chance to capture what many expect could be a strong first-day pop in the shares of the blockbuster IPO, while managers will have to wait for the influx of capital into their products, Reuters said.

"We had really wanted to be out on Friday," said Matt Markiewicz, head ‌of product and ‌capital markets at Tradr ETFs, declining to comment on the ‌delay. ⁠The firm's 2x ⁠long and 2x short ETFs will now debut Monday on Cboe Global Markets .

"There is a lot at stake; these products could end up holding a total of more than $10 billion" in assets, Markiewicz added.

Asset managers seeking SEC approval to launch the ETFs had hoped to trade in lockstep with SpaceX's market debut, several of the issuers said.

Instead, exchanges told them on Wednesday the listings would need to be pushed to the first trading day following ⁠the IPO, according to four sources. The exchanges cited SEC concerns ‌that coupling the ETF launches with leveraged products could complicate ‌the SpaceX debut, three sources said.

The SEC did not respond to requests for comment. ‌A spokesman for the Nasdaq Stock Market, which will be home to the SpaceX IPO ‌as well as some of the ETFs, declined comment. Cboe Global Markets and the New York Stock Exchange could not immediately be reached for comment.

While there is no precedent for leveraged funds - introduced in the US less than four years ago and surging in number over the past ‌12 months - to launch alongside an underlying stock, asset managers had hoped to gain an edge in what analysts say could be ⁠a multibillion-dollar race ⁠for assets in the first weeks of trading.

"There are billions at stake in the first few weeks alone," said Todd Sohn, an ETF analyst at Strategas.

Major players in the leveraged stock arena, including Direxion, GraniteShares, ProShares and Defiance, plan to roll out 2x leveraged long ETFs as soon as they are permitted to do so, according to their filings and advertisements on investment forums and social media sites.

"Investors will have multiple options; they will be able to get SpaceX exposure because of early entry on the part of passive index providers, or through the stock itself, or through the leveraged (ETF) ecosystem, which adds up to a pretty robust mechanism for price discovery," said Simeon Hyman, global investment strategist at ProShares.

He said his firm had no plans to launch early and was comfortable waiting until Monday. "The intent of everybody is to have this (IPO) work smoothly."


Türkiye Central Bank Commits to Continued Disinflation Path

 A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
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Türkiye Central Bank Commits to Continued Disinflation Path

 A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)

Turkish Central Bank Governor Fatih Karahan said on Friday that price stability remains the top priority and that the disinflation process will continue despite recent ‌geopolitical tensions.

The ‌governor said ‌policy ⁠tools and strong ⁠reserves provide the means to sustain disinflation, and that a rebalancing in domestic demand is ⁠expected to continue ‌supporting ‌the process.

Governor said ‌the central bank ‌will continue to monitor all factors affecting the inflation outlook.

Loan ‌growth is moving toward a more ⁠balanced ⁠path, the governor said, citing the latest policy measures.

Strong reserves alongside policy tools act as buffers against geopolitical risks to disinflation.


Dollar Steadies as Traders Weigh Prospects for Iran Ceasefire

A US $100 dollar bill is seen on December 17, 2009. (Reuters)
A US $100 dollar bill is seen on December 17, 2009. (Reuters)
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Dollar Steadies as Traders Weigh Prospects for Iran Ceasefire

A US $100 dollar bill is seen on December 17, 2009. (Reuters)
A US $100 dollar bill is seen on December 17, 2009. (Reuters)

The dollar found its footing on Friday after sliding the previous day as traders waited for confirmation that a ceasefire deal in the Middle East could be imminent.

The euro bounced around and was last very slightly higher at $1.158, near its strongest in a week after the European Central Bank's first interest rate hike in three years on Thursday.

The US dollar was up 0.1% against Japan's currency at 160 yen, keeping it around a key level at which traders tend to get nervous about intervention from Tokyo.

The British pound fell very slightly to $1.341. Data showing the economy contracted in April appeared to have little impact, with the focus on Iran ‌talks.

US President Donald ‌Trump said on Thursday the United States and Iran could ‌sign ⁠a peace deal ⁠as soon as this weekend that would reopen the Strait of Hormuz to shipping. Brent crude slid 3.6% to $87 a barrel on Friday.

Iran's semi-official Mehr news agency said on Friday the memorandum, which contained US commitments to lifting sanctions and its naval blockade, required finalization by the relevant authorities.

Yet analysts and investors sounded a skeptical note, saying potential breakthroughs have previously failed to materialize.

"There's a question around the hopes of a deal, ⁠and questions around whether it will be met and agreed upon ‌by Iran and the United States," said Michael ‌Wan, senior currency analyst at Mitsubishi UFJ Financial Group in Singapore.

"It sounds like it's quite ‌close, but they're not exactly at the finish line."

The US dollar index, which ‌measures the greenback's strength against a basket of six currencies, was flat at 99.68 after slumping to its weakest in a week on Thursday.

Investors have flocked to the safe-haven dollar when tension in the Iran war has flared, and sold it to buy stocks when peace talks ‌have appeared to make progress.

"For today, the market will again be headline-driven. Will Vice President JD Vance be getting ⁠on a plane ⁠to Europe to sign some kind of agreement?" asked Chris Turner, global head of markets at ING.

"And more importantly, will we receive confirmation from Iran that it is happy with a deal and will also be sending a delegation to Europe this weekend? Expect the dollar to be bounced around."

Data on Thursday showed US producer prices increased more than expected in May, ahead of Kevin Warsh's first rate-setting meeting as chair of the Federal Reserve next week.

Traders expect the Fed to keep rates steady at 3.5% to 3.75%but see a more than 50% chance that it raises them by the end of the year, with pricing pulled slightly lower on Thursday by Trump's comments about a potential deal.

In cryptocurrencies, bitcoin was up 0.1% at $63,430 but down 13% for the month so far.