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Egypt-Israel peace treaty lives on in troubled region

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CAIRO: The US-mediated 1979 treaty between Egypt and Israel may only have resulted in a “cold peace” but their ties have survived four decades in a turbulent region, analysts say.

The watershed treaty brought together late Egyptian president Anwar Sadat and Israeli premier Menachem Begin for a 26th March, 1979 signing ceremony in Washington as a beaming Jimmy Carter, then-US president, looked on. The peace deal, the first ever between Israel and an Arab state, and which cost Sadat his life at the hands of an Islamist extremist, has kept Cairo out of any armed conflict with its neighbour.

The treaty has emerged unscathed from upheavals in Egypt, notably the 2011 revolution that toppled longtime ruler Hosni Mubarak, proving its “stability”, said Amr al-Shobaki, political analyst with the Ahram Center for Political and Strategic Studies. The 40th anniversary comes as armed conflicts roil several countries across the Arab world, from Libya in the far west to Yemen in the south.  It also comes at a time of major US policy changes.

In 2017, President Donald Trump’s administration recognised the disputed city of Jerusalem as Israel’s capital, causing uproar in the Muslim world. He followed up on Friday with a pledge to recognise Israel’s annexation of the Golan Heights. Israel seized mainly Palestinian east Jerusalem, Syria’s Golan and Egypt’s Sinai Peninsula in the 1967 Six-Day War, when it also occupied the West Bank and Gaza. But under the 1979 peace treaty, Israel returned the Sinai to former enemy Egypt.

 

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Politics

Removal of Asad Umar to have ‘positive impacts’ on economy: Bilawal

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PTI government 'strange and fake', says Bilawal

KARACHI: Pakistan People’s Party Chairman Bilawal Bhutto Zardari has welcomed the government’s decision for what he said removing Asad Umar as finance minister.

Speaking to the media here today, PPP chief expressed  the hope that  the decision would have positive impact on the economy.

He said the government has realized after eight months that its economic policies are flawed.

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Politics

Imran should’ve tendered resignation instead of Asad Umar

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ISLAMABAD: Hours after Asad Umar announced his resignation from the post of finance minister, opposition parties started to shower criticism on the Imran Khan-led PTI government.

In a statement, former information minister Marriyum Aurangzeb blamed the policies of Prime Minister Imran Khan for the economic mess that has been created.

“If PTI’s and Asad Umar’s policies were so good, and the problems were from PMLN government,then why was he [Umar] asked to step down,” she questioned.

“This is an admission by IK that his polices have created an economic crisis in Pakistan. the real problem is not Asad. It is the PM,” she further said tagging Pakistan Tehreek-e-Insaf twitter handle.

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Economy

Brexit: Falklands’ economy and Spanish fishermen threatened  

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Hitachi freezes British nuclear project

MADRID: A no-deal Brexit would deal a severe blow to the economy of Britain’s Falkland Islands which is heavily dependent on squid exports — and to Galicia in Spain where almost all of the mollusks are sent.
Fully 94 percent of the catch, mostly squid, exported from the contested South Atlantic archipelago known to Argentina as the Malvinas and occupied by Britain since 1833, is sent to the port of Vigo in northwestern Spain, some 13,000 kilometers (8,000 miles) away.
There the processing of squid is carried out or shipped directly to other European nations. About a third of the squid eaten in continental Europe comes from the Falklands, according to the archipelago’s government.
Fishing accounts for 40 percent of the economic output of the island group which was at the heart of the two-month war between Britain and Argentina in 1982. And Galician trawlers staffed mainly with Spaniards dominate the sector.
This trade is profitable because no customs tariffs are slapped on the squid since both Britain and Spain belong to the European Union — but that would end if Britain leaves the bloc without any agreements in place about what their relationship would be in the future.
In that case, World Trade Organization (WTO) custom tariff which ranges from six to 18 percent depending on the nature of the product would apply, according to Richard Hyslop, senior policy advisor to the Falkland Islands government.
“It’s critical that we retain our tariff-free access (with the EU),” Teslyn Barkman, who is in charge of managing natural resources and Brexit related issues with the archipelago’s government, told AFP by telephone, adding it was a “life or death” issue for the Falkland’s economy.

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