Mohieldin made the remarks during a panel discussion on “Carbon Markets for Global South, featuring ACMI” at the Africa Climate Summit (ACS) in Nairobi. African Carbon Markets InitiativeThe African Carbon Markets Initiative is a public-private partnership launched in November 2022 to accelerate the development of carbon markets in Africa. The African Carbon Markets Initiative will also support the development of standards and regulations for carbon markets in Africa and will work to promote the participation of local communities and businesses in the carbon market. The African Carbon Markets Initiative is a key part of Africa’s efforts to achieve its climate goals. The African Carbon Markets Initiative has the potential to play a significant role in mobilizing climate finance for Africa.

Mohamed Maged, the executive director of the CEC, said that the agreement aims to support the glass industry and promote its exports. He said that Egypt has a competitive advantage in the quality and diversity of its glass products, which are exported to many countries around the world. He added that Turkey was the top importer of Egyptian glass products in 2022, followed by the US, Morocco, Lebanon, Libya, Brazil, Sudan, Algeria, Kenya and Italy. These ten countries imported glass products worth $165m from Egypt in 2022, representing 67% of Egypt's total glass exports. He stressed the importance of participating in local and international glass exhibitions to showcase the latest innovations and technologies in the glass sector and to increase the demand and value of Egyptian glass products in the global market.

The Egyptian government plans to cooperate with the International Finance Corporation (IFC) to hire a global consulting firm to develop a clear strategy for investment in Egypt. The move aims to improve Egypt’s ranking in the Ease of Doing Business index and to increase investment rates by 25% to 30% in the coming years. The document stated that the IFC will prepare an integrated strategy for the IPO program, which will take about four months, starting from June 2023. The IFC is a member of the World Bank Group that provides financing and advisory services to private sector projects in developing countries. The IFC has been active in Egypt since 1956 and has invested over $8 billion in various sectors.

Egypt - The Central Bank of Egypt (CBE) has announced that it will allow the establishment of green banks in the country, as part of its efforts to support sustainable development and environmental protection. The CBE added that sustainable financing is a key factor in achieving the goals of sustainable development, which include creating balanced growth, reducing poverty, improving living conditions, and addressing climate change. These principles are in line with Egypt’s Vision 2030 and the global Sustainable Development Goals. The CBE also launched several initiatives to promote sustainable financing, by providing funds to banks at low interest rates to lend to their customers for various development projects. CBE also directed banks to measure the carbon footprint of their internal activities as a first step towards applying sustainability principles to the bank’s internal activities and work.

CNN — India launched its first spacecraft dedicated to studying the sun, building on a month of historic successes for the country’s civil space efforts. The spacecraft, called Aditya-L1, launched from Sriharikota, an island off the Bay of Bengal, at 11:50 a.m. Saturday local time (2:20 am ET). This position “will provide a greater advantage of observing the solar activities and its effect on space weather in real time,” according to the space agency. The information gleaned from Aditya-L1’s experiments will provide a clearer picture of space weather, or the term used to describe the magnetic waves rippling through our solar system. India’s first dedicated solar mission adds to the country’s status as an emerging space superpower.

Madinet Masr, one of Egypt’s leading urban community developers, has unveiled its latest innovative concept, Touba, a transformative solution that redefines and facilitates the process of owning and investing in real estate. Touba introduces a flexible payment plan that spans up to 10 years and is tailored to cater to various customer segments. Touba, which means “brick” in Arabic, is a revolutionary measurement unit that redefines property ownership. Meanwhile, we aim to contribute to the growth of the sector through creating innovative solutions that encourage property investments and purchasing.”Madinet Masr aims to innovate and create diversified solutions for the real estate market, addressing customers’ needs and overcoming the obstacles of investment and real estate. Simultaneously, it is encouraging the provision of innovative solutions and advanced ideas, to revolutionize the concept of purchasing and investing in the Egyptian real estate market that is witnessing remarkable growth.

Egyptian Prime Minister Mostafa Madbouly on Thursday issued a decision regarding the collection of residency fees in the US dollar or its equivalent, while granting foreigners residing illegally a grace period to legalize their residency within Egypt. All foreigners applying to the General Administration of Passports, Immigration and Nationality to obtain the right of residence for tourism or non-tourism must submit a receipt indicating that they have transferred the equivalent of (residence fees – late fines – costs of issuing a residence card) in US dollar or its equivalent currencies, the decision stipulates. Foreigners residing in the country illegally must also legalize their status and residence provided that there is a host of Egyptian nationality, within three months from the effective date of this decision. This comes in exchange for payment of administrative expenses equivalent to US$1,000, deposited in the account designated for this purpose in accordance with the rules and procedures laid out by the Interior Ministry.

CAIRO – 3 September 2023: The World Youth Forum organized for three days this week a social integration camp that consisted of activities, events, and workshops with the aim of raising awareness on the concept, tolerating differences, exploring oneself, providing psychological support to others, seeking help, and breaking stigma. Participants included university students, school students, disabled individuals, and volunteers at Decent Life initiative. The camp was carried out in collaboration with the International Migration Organization (IMO), WellSpring Egypt, Fahem, World Health Organization, and Decent Life. It is one of the outcomes of the forum's Psychological Health Initiative, and Refugee and Migrant Support Initiative. The initiatives are funded through the surplus of the revenues generated from the forum's sponsorship.

One of Egypt’s oldest synagogues, the Ben Ezra Synagogue, was inaugurated by Egyptian Prime Minister Mostafa Madbouly last week after extensive restoration work on the historical building was completed in July. It is named after Jewish scholar and philosopher Abraham Ben Ezra, who fled Spain during the Middle Ages and spent part of his life in Egypt. The restoration is part of a national project for rehabilitating Historic Cairo according to Egypt’s Ministry of Tourism and Antiquities. “Once a hub for Jewish celebrations, gatherings, and prayers in Egypt, the Ben Ezra Synagogue has transformed into a tourist attraction after the majority of the Jewish community left in the 1950s,” according to dailynewsegypt.com. In 2020, Alexandria’s Eliahu Hanavi synagogue was reopened after restoration.

This was stated by Prime Minister Mostafa Madbouly in a meeting that discussed the mechanisms and procedures to enhance real estate export, including the establishment of a real estate fund and a real estate bourse. The real estate bourse will complement the traditional real estate market, and provide opportunities for real-time trading and investment in the real estate sector. He added that real estate funds and a real estate bourse lack technological readiness and trained workers to facilitate real estate trading. It was established in 2006 and owns several registered real estate companies, including companies specializing in commercial and residential real estate. The Singapore Real Estate Exchange (SGX): It is a leading platform for real estate trading in Asia.

CAIRO – 3 September 2023: The Ministry of Foreign Affairs and the General Authority for Investment and Free Zones (GAFI) collaborated to hold the "Business and Investment Forum" on Thursday at the embassy in Beijing, attracting 120 participants representing Chinese companies, financial institutions, banks, and various business communities. In his speech, GAFI Chairman Hossam Heiba highlighted incentives offered to foreign companies, particularly in the sectors of automotive, home appliances, power generation, green hydrogen, and transfer of technology in any field. Heiba equally clarified the merits of operating in private business parks and free zones aimed at encouraging exports by providing tax exemptions. He also shed light on the process of registering new companies online, and the infrastructure investors need in the form of seaports, roads, and railways. The GAFI chairman underscored that Egypt ranked first in Africa in terms of the value of foreign direct investments' inflow in 2022, calling on Chinese companies to expand in the country and seizing the promising opportunities it offers.

CAIRO – 3 September 2023: Egyptian Ambassador to Lisbon Wael al-Nagar met earlier this week Portuguese Minister of Health Manuel Pizzaro to discuss the implementation of cooperation agreed upon during the latter's visit to Cairo in May. Such cooperation is in the sectors of healthcare, pharmaceuticals, digitalization, and start-ups. In that framework, the ambassador stressed Egypt's keenness on partnering up with Portugal to produce drugs, vaccines and medical devices, localizing those industries in the country, as well as in the field of medical research. On his side, the Portuguese minister said he looked forward to receiving his Egyptian counterpart by the end of this year in order to finalize agreements that would consolidate the presence of Portuguese pharmaceutical firms not only in Egypt but also in Africa.

The Central Bank of Egypt (CBE) has announced that it has formed work committees from all relevant ministries and national authorities, under its chairmanship, to study the possibility of launching a digital currency. The CBE aims to launch a digital currency as a safe and stable alternative to other types of cryptocurrencies, which pose a set of risks. The CBE also wants to prevent the spread and trading of cryptocurrencies that are not regulated by the CBE. The CBE is also working on launching the “Know Your Customer” project, which will enable customers to create an electronic financial identity and verify their data electronically. Another project that the CBE is working on is the digital savings and lending project, which will enable customers to borrow and save through their mobile phone wallets.

Gabon will reopen the land, sea and air borders from Saturday, the Committee for the Transition and Restoration of Institutions (CTRI) of Gabon announced on national television. The CTRI “decides with immediate effect to reopen the land, sea and air borders, from this Saturday, September 2, 2023,” according to the statement read on the television, explaining that this decision aims to promote the continuity of the country and to honor international commitments. All borders of Gabon were closed soon after the coup. Nguema, president of the CTRI, decided on the temporary restoration of the Constitutional Court, the gradual establishment of the institutions of the transition, and the resumption of domestic flights. He also asked the cabinet of ministers to ensure the effective resumption of work immediately, as well as the continuity of the operation of all public services.

More than 100 people were injured in violent clashes between Eritrean protesters and Israeli police in Tel Aviv on Saturday, Israeli emergency services said. The clashes initially broke out in the morning between supporters and opponents of the Eritrean government who gathered near a club to protest at an event that was set to be hosted by the Eritrean embassy. The violence quickly escalated, with some protesters turning against Israeli police forces who came to intervene. The Israeli police said in a statement that they had used live fire and stun grenades in an attempt to stop the violence. Israeli Prime Minister Benjamin Netanyahu is receiving regular updates on the situation and has instructed the national security minister and the police commissioner “to act to restore public order,” according to a statement released by the Prime Minister’s Office.