Egypt
Egypt’s annual inflation jumps to 16.5% in May
Egypt’s annual inflation rate surged to 16.5 percent in May, up from 13.5 percent in April, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
Gulf Air, the Kingdom of Bahrain’s national carrier, announced its carbon management initiative in partnership with Safa, a voluntary carbon offsetting platform that provides individuals and businesses with the option to understand and manage the carbon footprint from their day-to-day activities.
The initiative is part of Gulf Air’s contribution to Bahrain’s objective to achieve net zero by 2060
Gulf Air, the Kingdom of Bahrain’s national carrier, announced its carbon management initiative in partnership with Safa, a voluntary carbon offsetting platform that provides individuals and businesses with the option to understand and manage the carbon footprint from their day-to-day activities.
The initiative is part of Gulf Air’s contribution to Bahrain’s objective to achieve net zero by 2060 and part of the company’s sustainability strategy to address climate change, reduce carbon emissions and implement sustainable solutions and policies to encourage environmental awareness across employees, staff and passengers.
As part of the partnership, passengers are able to voluntarily offset their individual carbon footprint based on the established global standards developed by the International Air Transport Association (IATA) Recommended Practice. Based on this information, passengers can opt in to contribute to addressing these emissions during the process of purchasing their ticket by supporting a portfolio of high-impact carbon projects. Each project within the portfolio has met strict criteria set by internationally recognized third-party verifiers to ensure the highest integrity possible.
Gulf Air Group Holding (GFG) Chairman Zayed R. Alzayani commented on the initiative, saying: “Gulf Air, a pioneering airline in the region, is making strides in achieving net-zero emissions that will contribute to the Kingdom’s strategy to mitigate climate change. Additionally, the Kingdom of Bahrain is a pioneer in the region to introduce this ground-breaking initiative that will contribute to reducing carbon emissions in the aviation sector. We are proud to be leading Bahrain’s sustainable vision in the aviation sector to tackle the impact of climate change and provide passengers the opportunity to contribute in their own way. We hope to continue implementing sustainable initiatives that address climate change as a global responsibility for all nations and airlines.”
The initiative is part of Gulf Air’s ongoing sustainability strategy as it continues to implement environmentally friendly initiatives.
Egypt’s annual inflation rate surged to 16.5 percent in May, up from 13.5 percent in April, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
Foreign investors returned to the Tel Aviv Stock Exchange in force last month, increasing their holdings despite ongoing conflict in Gaza and heightened regional tensions. Net foreign purchases reached an estimated NIS 2.5 billion ($700 million) in May, with much of the capital concentrated in the banking sector.
In a move that reinforces China’s growing industrial footprint across North Africa, Chinese steelmaker Jingdong Steel has announced a $500 million investment to build a major steel production facility in Algeria.
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