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)



IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.


Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.


Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.