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		<title>From Baghdad’s Trade Networks to Gulf Wealth Funds: How Arabic Commerce Shaped Global Finance and Business</title>
		<link>https://millichronicle.com/2026/06/68411.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sat, 06 Jun 2026 16:50:24 +0000</pubDate>
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					<description><![CDATA[&#8220;For centuries, Arabic was not merely a language of culture and religion; it was also a language of commerce, trust]]></description>
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<p><em>&#8220;For centuries, Arabic was not merely a language of culture and religion; it was also a language of commerce, trust and financial innovation that connected markets across continents.&#8221;</em></p>



<p>The history of global commerce is often told through the rise of empires, trade routes and financial institutions. Less frequently discussed is the role of language in shaping those systems. </p>



<p>Historical accounts cited in the source material describe how Arabic commercial terminology and business practices became closely associated with trade networks that stretched across large parts of Asia, Africa and the Mediterranean during the medieval period.</p>



<p>According to the source material, Baghdad was regarded as one of the world&#8217;s wealthiest cities around 800 AD, with prosperity linked not to natural resources or military expansion but to its position as a major center of trade. Commerce occupied a central place in economic life, reflected in the Arabic term &#8220;tijara&#8221; (تجارة), meaning trade or the exchange of goods and services. </p>



<p>Merchants operating across long distances relied on extensive commercial relationships that connected producers, traders and consumers across multiple regions.The source material argues that Arab merchants developed systems based on trust, referred to by the Arabic word &#8220;amana&#8221; (أمانة). In its commercial sense, the term denotes the safeguarding of another person&#8217;s property or wealth and the expectation that obligations will be honored. </p>



<p>Such principles played a role in facilitating transactions among merchants operating across vast geographic distances, often in environments where modern regulatory institutions did not yet exist.These trust-based arrangements helped support increasingly sophisticated commercial practices. </p>



<p>Merchants exchanged goods, extended credit and conducted transactions across territories that spanned multiple political jurisdictions. The source material characterizes these mechanisms as an early form of banking, built around commercial confidence and merchant networks rather than modern financial institutions.</p>



<p>The development of written financial instruments represented another significant advancement. The Arabic word &#8220;sakk&#8221; (صكّ), described in the source material as a written payment order or financial document, became associated with methods of transferring value without requiring the physical movement of currency.</p>



<p> Historians have frequently noted linguistic links between the Arabic term and the English word &#8220;cheque,&#8221; reflecting the influence of medieval commercial interactions on later financial terminology.The spread of trade also facilitated the movement of language. </p>



<p>Commercial exchanges carried words, ideas and technologies between societies, leaving traces that remain visible in modern vocabulary. The source material identifies several commonly used English words including &#8220;tariff,&#8221; &#8220;magazine,&#8221; &#8220;cotton,&#8221; &#8220;algebra&#8221; and &#8220;alcohol&#8221; as having Arabic linguistic origins. These examples illustrate how economic and cultural interactions can shape language over centuries.</p>



<p>The commercial environment described in the source material was supported not only by institutions and terminology but also by values associated with enterprise and economic activity. One such concept is &#8220;himma&#8221; (هِمَّة), defined as determination, ambition and the willingness to pursue long-term goals. </p>



<p>The term is presented as a cultural expression of persistence and entrepreneurial drive, qualities frequently associated with successful commercial activity.While the historical influence of Arabic commercial practices forms one part of the narrative, the source material also highlights the contemporary economic significance of the Arab world. It states that Arab countries collectively account for approximately $3 trillion in sovereign wealth assets.</p>



<p> Sovereign wealth funds have become major participants in global capital markets, investing across sectors ranging from infrastructure and technology to energy and real estate.The source material further notes that the Arab world comprises 22 countries with a combined population of approximately 420 million people. </p>



<p>Together, these states represent a significant economic and demographic bloc spanning the Middle East and North Africa. Their geographic position continues to place them at the intersection of major global trade routes linking Asia, Europe and Africa.Arabic remains an important language of business across much of the region. </p>



<p>According to the source material, many commercial negotiations and business relationships continue to begin in Arabic, reflecting both cultural continuity and the practical realities of operating in local markets. Language can serve not only as a means of communication but also as a tool for building trust, understanding business norms and navigating regulatory and commercial environments.</p>



<p>The source material points to major commercial centers including Dubai, Riyadh, Cairo and Doha as examples of cities that have emerged as influential hubs for investment, trade and regional business activity. These urban centers have attracted multinational corporations, investors and entrepreneurs seeking access to markets across the Middle East and North Africa.</p>



<p>The concept of opportunity is represented through another Arabic term highlighted in the source material: &#8220;fursa&#8221; (فرصة), meaning opportunity. The term is used to describe openings that may be time-sensitive and require action before circumstances change. </p>



<p>Within the context of regional economic development, the source material presents Arabic language skills as increasingly relevant for individuals and businesses seeking to engage with rapidly expanding markets.The argument advanced by the source material is that the significance of Arabic extends beyond cultural or religious contexts. </p>



<p>It suggests that the language has historically functioned as a vehicle for commerce, finance and economic exchange, contributing terminology and concepts that became embedded within broader global systems. From trade agreements and financial instruments to commercial vocabulary and business practices, Arabic linguistic influence has persisted across centuries of economic interaction.</p>



<p>The relationship between language and commerce remains evident today. As Gulf sovereign wealth funds deploy capital globally and regional cities compete to attract investment, knowledge of local languages and commercial traditions continues to carry strategic value. </p>



<p>The source material contends that success in these markets depends not solely on technical expertise or financial resources but also on understanding the cultural and linguistic frameworks that underpin business relationships.</p>



<p>Viewed through this lens, the story of Arabic commerce is not simply a historical account of medieval trade networks. It is also a reflection of how language can shape institutions, facilitate trust and support economic activity across generations. The commercial concepts highlighted in the source material trade, trust, financial documentation, ambition and opportunity remain closely connected to the functioning of markets, both past and present.</p>
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		<title>Israeli Military Says Northern Air-Raid Alert Triggered by False Identification</title>
		<link>https://millichronicle.com/2026/05/67789.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Tue, 26 May 2026 06:40:09 +0000</pubDate>
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					<description><![CDATA[Cairo-The Israeli military said on Tuesday that air-raid sirens activated across parts of northern Israel due to a suspected hostile]]></description>
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<p><strong>Cairo-</strong>The Israeli military said on Tuesday that air-raid sirens activated across parts of northern Israel due to a suspected hostile aircraft intrusion were triggered by a false identification, easing concerns of a potential aerial threat amid heightened regional tensions.</p>



<p><br>In an initial statement, the military reported that warning sirens had sounded in the area of Sasa and surrounding communities after systems detected what was believed to be a hostile aircraft entering Israeli airspace.</p>



<p><br>Following an assessment, the military said the alert had been caused by a mistaken identification and that no hostile aerial object had entered the area.<br>“The sirens warning of a hostile aircraft infiltration were determined to have been a false identification,” the military said in a statement.</p>



<p><br>No injuries or damage were reported.</p>



<p><br>The incident occurred as Israel remains on heightened alert due to continuing regional security tensions linked to the ongoing conflict involving Iran and recent missile and drone activity across the region.</p>



<p><br>False alarms have become increasingly sensitive security events as Israeli air-defense and early-warning systems operate under elevated readiness conditions amid concerns over potential aerial threats, including drones, missiles and other unmanned platforms.</p>



<p><br>Israeli authorities did not provide further details regarding the nature of the misidentification or the systems involved in triggering the alert.</p>
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		<title>Energy Shock Forces Cairo Curfew as Iran War Strains Egypt Economy</title>
		<link>https://millichronicle.com/2026/04/64744.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Mon, 06 Apr 2026 06:44:48 +0000</pubDate>
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					<description><![CDATA[Cairo — Egypt has imposed early closing hours for shops and businesses across Cairo to curb soaring energy costs linked]]></description>
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<p><strong>Cairo</strong> — Egypt has imposed early closing hours for shops and businesses across Cairo to curb soaring energy costs linked to the ongoing Iran war, a move that is already disrupting commerce, nightlife and key sectors of the economy.</p>



<p>Under a month-long order introduced last week, shops must close by 9:00 p.m. on weekdays and 10:00 p.m. on weekends, with a temporary extension to 11:00 p.m. during the Coptic Easter period. Authorities say the meaaures are necessary as rising global fuel prices drive up Egypt’s energy import bill.</p>



<p>Prime Minister Moustafa Madbouly said the country’s monthly energy costs more than doubled between January and March to $2.5 billion, reflecting Egypt’s dependence on imported fuel to meet domestic demand.</p>



<p>The restrictions have sharply altered life in Cairo, a city known for its late-night economy. Streets that typically remain active into the early hours now empty soon after closing time, with police patrols enforcing compliance.Small businesses have been among the hardest hit. </p>



<p>Shopworker Ali Haggag said his clothing store has lost more than half its revenue since the measures took effect, as evening foot traffic  a major source of sales —has been curtailed.Economists warn the impact could be widespread in Egypt’s informal sector, which accounts for roughly two-thirds of employment. </p>



<p>Wael el-Nahas said reduced operating hours translate directly into lower incomes for millions of workers dependent on nightly commerce.The crisis has also affected major industries. Cinema operators report steep losses as late-night screenings  typically the most profitable have been eliminated. </p>



<p>Film producer Gaby Khoury said box office revenues have fallen by more than 60 percent, prompting delays in releases and production schedules.Tourism, a key source of foreign currency, faces similar pressures. </p>



<p>While high-end hotels and Nile-side venues are exempt, popular attractions in central Cairo, including markets and bazaars, must close early, limiting visitor spending.</p>



<p> Industry officials say the reduction of evening activity risks diminishing the city’s appeal to tourists.The curbs come alongside broader austerity measures introduced in recent weeks, including fuel price increases, reduced public lighting, and expanded remote work policies.</p>



<p> Authorities say the steps are needed to manage fiscal pressures as energy prices surge following the escalation of conflict involving Iran.The economic strain has coincided with currency depreciation and rising inflation.</p>



<p> The Egyptian pound has weakened by around 15 percent since the conflict began, while inflation reached 13.6 percent in March.</p>



<p>Despite the disruption, some businesses are adapting by reduction staffing hours or employing informal workarounds to continue operations. Others expressed cautious optimism that consumers will adjust to the new schedule.</p>
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		<title>OPINION: Sisi’s Rural Development is a War on Religious Extremism</title>
		<link>https://millichronicle.com/2021/05/opinion-sisis-rural-development-is-a-war-on-religious-extremism.html</link>
		
		<dc:creator><![CDATA[Dalia Ziada]]></dc:creator>
		<pubDate>Wed, 26 May 2021 20:11:29 +0000</pubDate>
				<category><![CDATA[Opinion]]></category>
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		<category><![CDATA[mohammed ali pasha]]></category>
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		<guid isPermaLink="false">https://millichronicle.com/?p=20136</guid>

					<description><![CDATA[by Dalia Ziada Muslim Brotherhood managed to gain political victory in parliament by playing on the religious piety of the]]></description>
										<content:encoded><![CDATA[
<p class="has-small-font-size"><strong>by Dalia Ziada</strong></p>


<div class="wp-block-post-author"><div class="wp-block-post-author__avatar"><img alt='' src='https://secure.gravatar.com/avatar/767e8f1bb9b852a34f9a6d9c5e3914f2?s=48&#038;d=mm&#038;r=g' srcset='https://secure.gravatar.com/avatar/767e8f1bb9b852a34f9a6d9c5e3914f2?s=96&#038;d=mm&#038;r=g 2x' class='avatar avatar-48 photo' height='48' width='48' loading='lazy' decoding='async'/></div><div class="wp-block-post-author__content"><p class="wp-block-post-author__name">Dalia Ziada</p></div></div>


<figure class="wp-block-audio"><audio controls src="https://drive.google.com/uc?id=1Lvv59j3z9yFSXjPdqp7Oi8oZFCDtnyMI"></audio><figcaption class="wp-element-caption"><em>Listen to the Article</em></figcaption></figure>



<blockquote class="wp-block-quote">
<p>Muslim Brotherhood managed to gain political victory in parliament by playing on the religious piety of the poor and illiterate citizens in rural areas&#8230;</p>
</blockquote>



<p>The Egyptian people are widely celebrating Egypt’s restoration of its regional status, after the recent successful mediation for ceasefire between Tel Aviv and Hamas, and&nbsp;<a rel="noreferrer noopener" href="https://twitter.com/alsisiofficial?lang=en" target="_blank">President</a>&nbsp;El-Sisi’s pledge to reconstruct&nbsp;<a href="https://see.news/egypt-exempts-gazas-students-from-tuition-fees-this-year/">Gaza</a>. Meanwhile, the Egyptian state has been gearing up for an equally challenging mission, but on the domestic level. This mission is about renovating the rural areas and improving life conditions for citizens living in rural cities, which represent more than 80% of the inhabited Egyptian geographic area. This important project is expected to enhance Egypt’s overall political and economic structure. But, most importantly it will undermine the social and economic gaps, through which radicalism, religious extremism, and political Islamism has leaked into the Egyptian society.</p>



<p>Earlier this week, the Egyptian President Abdel-Fattah El-Sisi and the Prime Minister Mostafa Madbouly, discussed the workflow of the rural development project. El-Sisi directed the Prime Minister to “harness all of the country’s resources and spare no effort to render such a project a success”. The project targets a total of 4,584 villages, with an estimated budget of 700 billion Egyptian Pounds (about 45 billion US dollars), to be invested in upgrading the infrastructure of water, gas, and power supplies, in addition to building underground sewage networks and improving road services.</p>



<p>If you have ever visited Egypt, you know that there is a gap in economic and social development between urban and rural cities. The situation is even worse in distant and small villages in Upper Egypt, where citizens, for decades, have been suffering from poverty, illiteracy, and lack of basic governmental services.</p>



<p>Since the time of Muhammad Ali Pasha monarchy (1805 – 1953), most of the government-led social and economic development projects had been focused in the capital city, Cairo, and the Mediterranean coastal city, Alexandria. During this era, Cairo was labeled as the hub for arts and culture in the Mediterranean and the Middle East. European people used to flee their war- torn countries and migrate to live in the peace and glamour of Cairo and Alexandria.</p>



<p>In a shocking contrast to this, the Egyptians living in rural areas were declined their basic rights to live as equal citizens, with equal access to education and opportunities. They were mostly treated like slaves serving in the farms owned by the wealthy feudal lords, who were politically close to the monarchy. This huge gap between Cairo and the other rural governorates, in the regions of Delta and Upper Egypt, enabled the appearance of radical political Islamist organizations, such as the Muslim Brotherhood, which started its mission in the eastern city of Ismailia and slowly moved to other rural cities in the Delta until it became strong enough to challenge and threaten the lives of the ruling political elite in secular Cairo.</p>



<p>After, the Free Officers Revolution, in 1952, which ended the monarchy and established Egypt as an independent Arab republic, the situation of rural citizens changed a lot. The then President Gamal Abdel Nasser, with a communist mindset, built his legacy around empowering the poor citizens, especially the farmers living in rural areas. Actually, he took the farms of the feudal lords and gave it to the farmers who had been serving in them, under the monarchy.</p>



<p>Despite the euphoria this move created among the poor, at the beginning of his era, Nasser failed to provide the appropriate citizen education and infrastructure development that could have had empowered the farmers to benefit from their newly acquired farming wealth. As a result, many of those farmers sold their pieces of land for houses construction contractors, and then moved with the money to live in Cairo.</p>



<p>During Sadat and Mubarak era, which extended for about four decades, the rural cities became in a worse condition. Most of the governmental infrastructure and development projects focused on Cairo. Meanwhile, most of the farmers went on selling the farms given to them by Nasser and most of the youth in rural cities sought after illegal immigration to Europe via the Mediterranean. This created a huge and dangerous gap, through which radical Islamists intervened to radicalize the poor and illiterate citizens and recruit the youth suffering poverty, lack of education, and unemployment in villages far from the capital city.</p>



<p>In the 1990s, violent Islamist organizations, like Al-jamaa Al-Islamiya (The Islamic Group), established an empire of its own among the poor villages of Upper Egypt. Towards the end of Mubarak era, the Muslim Brotherhood managed to gain political victory in parliament by playing on the religious piety of the poor and illiterate citizens in rural areas, and also by providing them with basic health and food services that the government failed to provide, at that time.</p>



<p>In light of this history, El-Sisi’s national project for developing the infrastructure and citizen well-being in rural cities, derives its importance. The success of this massive project is expected to bring a lot of benefits to the economic well-being of Egypt, on the long-term. It will rebalance the demographic distribution between the urban and rural cities. Less people will desire to leave their rural cities and internally migrate to Cairo or internationally migrate to Europe, searching for better life conditions and work opportunities.</p>



<p>However, the most important, yet undeclared, outcome of this important national project is to fight against the religious extremists and terrorist organizations, who found a fertile soil for their radical ideology among the needs and despairs of the young people living in those less-developed and under-constructed rural villages. This simply means a more secure future for Egypt, if not for the whole Middle East and the Mediterranean regions.</p>



<p><em>Piece first published in <a href="https://see.news/sisis-rural-development-is-a-war-on-religious-extremism/?fbclid=IwAR33WdqeUaOLAIX1xd9wXyH9sQNTq6VDWdEtlci8ldbn3i6Zd6zxl-qwb6g">Sada El Bilad</a>.</em></p>



<blockquote class="wp-block-quote">
<p>Disclaimer: Views expressed by writers in this section are their own and do not reflect&nbsp;Milli Chronicle’s point-of-view.</p>
</blockquote>
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