CAIRO - 11 October 2023: A report by the Egyptian Center for Thought and Strategic Studies revealed that the goal of the Egyptian approach to the security of its northern borders was development, after the end of the terrorist threat in North Sinai. Development and reconstruction have become the first line of defense for this region, through the implementation of an expanded development plan that addresses the developmental deficiencies that have taken root in most areas of Sinai. The state chose the most difficult option, which is to get rid of terrorism and launch the development efforts in all parts of Sinai, “the land of turquoise," both in parallel. The starting point for the comprehensive plan for the development of Sinai was through Presidential Decree No. This is in addition to the establishment of 2,794 Bedouin homes in several areas of North Sinai, and the development of unsafe areas in South Sinai, through the establishment of development clusters provided with integrated services.

CAIRO – 11 October 2023: President Abdel Fatah al-Sisi received Wednesday a phone call from Sultan Haitham Bin Tarek of Oman as they discussed the current escalation between the Palestinian and the Israelis, and its precarious consequences on regional security and stability in addition to the incurred humanitarian suffering sustained by civilians. The two leaders agreed on unifying efforts aimed at encouraging both parties to de-escalate and achieve pacification. They also briefed each other on the ongoing communications targeted at that goal. The two chiefs of state further stressed the necessity of pushing forward the two-state solution as a comprehensive and fair settlement to the Palestinian Cause, and as provided in the UN Security Council resolutions.

CAIRO – 11 October 2023: Egyptian high-profile security sources told Al Qahera News that the Palestinian Cause is taking a turn that is the most perilous in its history, as there is an obvious plan to achieve the goals of the occupation embodied in pushing the residents out of the occupied lands by pressuring them to make a choice between dying or getting displaced. The sources warned of the repercussions of the current crisis on the fundamentals of the Palestinian Cause and Palestinian rights. They added that there were players paving the way for the occupation’s plan by propagating proposals that are sullied historically and politically, and that were put forward by the occupation itself throughout the Arab-Israeli Conflict. The plan is moving Gaza residents to Sinai, the sources stated. The sources noted that Egypt had and will repel the plan of moving Gaza residents to Sinai, and that even Palestinians refute such scheme out of a willpower to not concede their land, adding that the Palestinian Cause is being currently terminated.

Concentrix, a leader in customer service and technology, and Webhelp, a global provider of customer experience and business solutions, announced the completion of their merger on Tuesday. The new company will operate under the temporary name “Concentrix + Webhelp” until a new name is chosen. The merger positions Concentrix + Webhelp as a global leader in the customer experience sector, with an expanded portfolio of AI solutions and digital capabilities. Chris Caldwell, CEO of Concentrix + Webhelp, expressed his excitement about the new journey ahead. They are Olivier Duha, an entrepreneur, co-founder, and former CEO of Webhelp, who will serve as Deputy Chairperson, and Nicolas Gheysens, a partner in Groupe Bruxelles Lambert (GBL), the company’s largest shareholder after the Concentrix + Webhelp merger.

The International Monetary Fund (IMF) has revised its projections for Egypt’s real GDP growth in 2023 and 2024, according to the World Economic Outlook report released in October 2023. The IMF expects Egypt’s economy to grow by 4.2% in 2023, down from 6.7% in 2022. The growth rate is further lowered to 3.6% in 2024. The report also predicts that Egypt’s inflation will rise to 23.5% in 2023 and 32.2% in 2024, compared to 8.5% in 2022. The report also notes that global growth will slow down from 3.5% in 2022 to 3% in 2023 and 2.9% in 2024, with headline inflation declining from 9.2% in 2022 to 5.9% in 2023 and 4.8% in 2024.

CAIRO – 10 October 2023: Egyptian President Abdel Fatah al Sisi stressed that Egypt is committed to Arab issues, and mainly the Palestinian Cause. He also noted that Egypt has intensified its efforts to halt the military confrontations, and as a result, save Palestinian lives. “The current escalation is so dangerous and has consequences that can jeopardize regional security and stability” President Sisi said. Israeli and Palestinian government officials have confirmed that they up to 15 massacres have been committed by the Israeli forces so far. Israeli Prime Minister Benjamin Netanyahu responded by declaring a "state of war," and Israeli jets continued to carry out relentless airstrikes on the Gaza Strip.

CAIRO – 10 October 2023: As the fourth day of the Palestinian-Israeli confrontations continue; sources within the Gaza Strip have told Youm7 newspaper that Israel used prohibited white phosphorus against Palestinians in Al Karama area, north of Gaza. This usage of prohibited weapons comes in conjunction with intensified and violent raids against the strip as a response for Hamas operation ‘Toofan Al-Aqsa’ carried out since Saturday against Israel. Israeli Prime Minister Benjamin Netanyahu responded by declaring a "state of war," and Israeli jets continued to carry out relentless airstrikes on the Gaza Strip. He also noted that Egypt has intensified its efforts to halt the military confrontations, and as a result, save Palestinian lives. “The current escalation is so dangerous and has consequences that can jeopardize regional security and stability” President Sisi said.

High-ranking Egyptian sources have warned that Israel’s blockade of the Gaza Strip and calls for the collective displacement of Palestinians are aimed at destroying the Palestinian issue. The sources told Daily News Egypt that Cairo’s vision was far-sighted when it warned of the situation and its repercussions on the constants of the Palestinian issue. They emphasized that calls for displacement are capable of emptying Gaza Strip of its inhabitants and undermining the Palestinian cause itself. Israel’s blockade of Gaza is a form of collective punishment that is causing immense suffering to the Palestinian people. Calls for the displacement of Palestinians are even more dangerous, as they would have devastating consequences for the Palestinian cause.

Egypt - The Ministry of Finance is planning to sell its 20% stake in ALEXBANK to Intesa Sanpaolo Group, the Italian banking group that owns about 80% of the bank, sources close to the deal told Daily News Egypt. The deal is expected to be completed in the first quarter of 2024 and is valued at around $150-175m, according to the sources. The sources said that the negotiations for the acquisition started in February last year and that ALEXBANK is the first government-owned bank to be privatized. The International Finance Corporation, which had a 9.75% stake in the bank, sold it to Intesa Sanpaolo Group in 2020 for $162m. A government document reviewed by the stock exchange revealed that the Egyptian government intends to exit some of its holdings in other companies as well, aiming to raise $5bn from October 2023 to June 2024.

The health authorities in Gaza said that the Israeli air strikes targeted residential buildings and infrastructure, forcing more than 120,000 people to flee their homes. The Israeli army admitted that it was facing a large number of casualties and hostages and that it had summoned 300,000 reserve soldiers to join the battle. The Israeli Air Force confirmed that it had lost two of its planes. The Israeli army said that it had detected some “suspects” who had infiltrated from Lebanon into Israel and that it had deployed its forces in the area. Hama’s operation came in the commemoration of the 50 years of the Egyptian victory over Israel on the 6th of October 1973.

The Egyptian government, in collaboration with the private sector, has launched an initiative to reduce the prices of essential goods, Prime Minister Mostafa Madbouly revealed. The initiative will also reduce the prices of live and frozen poultry and eggs by 15%. This came during a Monday press conference, to reveal the details of an agreement between the government and private sector regarding the initiative to reduce prices of basic commodities. To address this, the responsible entities called for the availability and provision of hard currency to increase the supply and subsequently reduce prices. An agreement was reached with the private sector and industry professionals to streamline procedures in the future.

A report by the Ministry of Transport released in July highlighted that Bashtil Train Station had a daily capacity of 250,000 passengers. The station consists of a built-up area of 112,000 square meters, and train tracks extending on 166,000 square meters. The project also comprises shopping malls that span over 42,000 square meters, and provides 3,500 direct and indirect job opportunities. The chairman of the Egyptian Railway Authority (ERA) told press in 2020 that Bashtil Train Station was planned to serve citizens moving to and from Upper Egyptian governorates. He added that the goal of its establishing was alleviating the load on Ramses Train Station.

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As the conflict intensifies, civilians, including vulnerable children and families, face mounting challenges in accessing essential food supplies, with food distribution networks disrupted and food production severely hampered by hostilities. WFP is prepared to respond swiftly with pre-positioned food stocks for people who have been displaced or are in shelters, when the situation allows, as well as resuming its regular food and cash-based transfer assistance to vulnerable people. While most shops in the affected areas in Palestine currently maintain one month of food stocks, these risk being depleted swiftly as people stock up in fear of a prolonged conflict. WFP has been steadfast in providing crucial food assistance, serving approximately 350,000 Palestinians monthly, and extending aid to nearly one million Palestinians in collaboration with other humanitarian partners through its cash-based transfers platform. These developments follow a devastating cut in assistance for 60 percent of WFP food aid recipients since June 2023, due to funding shortfalls, leaving only 150,000 people receiving reduced rations.

Samir made these remarks during a speech delivered on behalf of Mostafa Madbouly, the Prime Minister, during the 21st Annual Meeting of the Indian Real Estate Developers' Association, which took place in Sharm El Sheikh and was attended by a significant number of Indian business leaders. The Minister of Trade and Industry acknowledged India as one of the leading countries in real estate development, with the Indian Real Estate Developers' Association playing an active role in developing this industry in India. He further highlighted Egypt's appreciation for the significant experience of Indian real estate developers and India's importance as a key partner in this field. These measures have contributed to increasing foreign direct investments in real estate and infrastructure projects. He invited participants in the forum to explore investment opportunities in the Egyptian real estate market and translate them into tangible projects in Egypt's real estate development sector.