Egypt, Qatar to Boost Cooperation Through Gas Exporting Countries Forum

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)
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Egypt, Qatar to Boost Cooperation Through Gas Exporting Countries Forum

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)

Egypt and Qatar have agreed to bolster cooperation in the energy sector at the Gas Exporting Countries Forum (GECF) through continuous bilateral coordination.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla held talks on Monday with Qatari Energy Minister Saad bin Sherida al-Kaabi.

In a press statement, Molla said that there is a mutual wish to push bilateral relations “toward wider prospects amid the fraternal ties and promising opportunities”.

The meeting showcased the current projects of Qatar in Egypt whether in gas and petroleum exploration in the Red Sea and the Mediterranean Sea or in the field of petroleum refining.

It took place ahead of the 24th Ministerial Meeting of the GECF which will be held in Cairo Tuesday.

The discussions dealt with energy relations and cooperation between Qatar and Egypt.

In the meantime, the GECF Global Gas Model and Accelerated Energy Transition Scenario Workshop was held in Cairo to discuss opportunities and challenges which the gas industry faces globally.

During his inaugural speech, Molla underscored the importance of long-term cooperation among the members of the Forum.

The Forum is considered an opportunity to exchange ideas about the challenges and opportunities in the energy industry, and it provides a space for constructive dialogue, said the minister.

“Natural gas has gained great momentum as the optimal source of energy in Egypt,” he added.

The workshop was attended by some GECF ministers and Secretary-General Mohamed Hamel.



Tunisia Olive Oil Exports Surge 55%, Bringing in $1.6 billion

Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui
Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui
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Tunisia Olive Oil Exports Surge 55%, Bringing in $1.6 billion

Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui
Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui

Tunisia's olive oil exports surged 55.3% to a record 368,000 metric tons in the first nine months of the 2025/26 season, bringing in $1.6 billion in export revenue, up 44.4% from a year earlier, official data showed on Friday.

The surge in olive oil shipments, a vital source of foreign currency and Tunisia's top agricultural export, will provide a much-needed boost to the country's finances as the government grapples with persistent economic and fiscal pressure.

The jump in exports was driven by strong global demand during the first nine months of the season, which began in November.

Extra virgin olive oil accounted for 83.6% of total shipments, the National Observatory of Agriculture said, Reuters reported.

The European Union remained the biggest destination, taking 57.1% of Tunisian olive oil exports, while North America accounted for 24%. More than 70 countries imported Tunisian oil during the period.

Exports to other markets included Saudi Arabia, which took 4.6%, Jordan with 3.1% and African markets at 3.8%, with Egypt accounting for 3.3%.

Bottled olive oil exports rose 50.8% to 51,500 tons, but bulk oil still accounted for the vast majority of shipments, underscoring Tunisia's challenge in capturing more value from one of its most important export products.


South African Rand Hits Strongest Level since Start of Iran War

South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration
South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration
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South African Rand Hits Strongest Level since Start of Iran War

South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration
South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration

The South African rand strengthened on Friday to its strongest level since the United States and Israel launched attacks on Iran on February 28, as rising gold prices and a weaker dollar boosted the commodity-linked currency.

At 1229 GMT, the rand traded at 15.9925 against the dollar , about 0.8% stronger from its previous close.

Gold, one of South Africa's main exports, rose to a more than three-month high on Friday and was on track for a third straight weekly gain.

The precious metal was supported by a weaker dollar and the US Treasury's announcement that it would increase buybacks of longer-dated securities, Reuters reported.

US Treasury Secretary Scott Bessent said he may further increase the government's repurchases of Treasuries. That came after the Treasury said it would double the size of buybacks on longer-dated securities over the next quarter.

The US dollar was set to end a bumpy week lower, making greenback-priced bullion more affordable for buyers overseas.

Like other emerging market currencies, the rand has been at the mercy of global market sentiment, particularly since the start of the Iran war.

On the Johannesburg Stock Exchange, the Top-40 index was last up 2.2%.

South Africa's benchmark 2035 government bond was also firmer in early deals, as the yield fell 0.5 basis points to 8.56%.


Bitcoin Jumps Further on US Crypto Policy Hopes

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Bitcoin Jumps Further on US Crypto Policy Hopes

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin surged Friday on optimism over US cryptocurrency legislation and the US Treasury's surprise move to buy back more of its own bonds, which fueled a shift to riskier assets.

The world's biggest cryptocurrency by market value climbed 6.9 percent to $77,675.94, after reaching its highest level since May, and is up more than 20 percent since Wednesday.

Friday was the third consecutive day in which bitcoin jumped more than five percent.

The sharp rise came after US President Donald Trump urged lawmakers on Wednesday to pass the Clarity Act, a bill to spur cryptocurrency use that has stalled in the Senate.

Bitcoin was also boosted by the US Treasury's bid to lower long-term borrowing costs by doubling its sovereign bond buybacks, a move that lifted investors' risk appetite, AFP reported.

The intervention came after the 30-year Treasury yield surged to levels last seen in 2007, just before the global financial crisis.

The prospect of lower yields makes safer investments less attractive, helping to drive demand for riskier assets such as cyptocurrencies.

"Renewed optimism around crypto progress in Washington helped light a fire under Bitcoin," said Bret Kenwell, US investment analyst at eToro.

"Falling Treasury yields and short liquidations added fuel to the rally," he said.