It was also emphasized that cooperation between the BRICS group is based on mutual respect, and investment in the BRICS countries has increased by six times. The goals of the BRICS group revolve around promoting trade and investment and strengthening political and diplomatic cooperation among its member states. The BRICS group relies on the national currency in trade between its member states instead of the US dollar. The BRICS group has proven its presence in global politics and its ability to drive global economic growth and innovation. On the other hand, the BRICS group faces many challenges, including the great disparity in development and economy among its member states and major challenges in the field of security and political stability in some member states.

South Asia is the second most water-stressed region, with 74% of the population exposed to water stress. Water stress in these countries is mostly attributed to reduced supply combined with demand from domestic, agricultural, and industrial uses. For the MENA region, this means that 100% of the population will be living with very high water stress by 2050. When the water demand exceeds the amount available during a certain period or when poor water quality restricts its use, water stress occurs. Without better water management, population growth, economic development, and climate change will exacerbate water stress, WRI’s report warns.

Abu Dhabi Development Holding, a state-owned investment company in the UAE, has agreed to invest $800m to buy stakes in three Egyptian government companies, with a guaranteed return of 8% per year for four years, sources told Daily News Egypt. The guarantee will be reduced by the proceeds of exiting the investment through a public offering or a sale to a strategic investor. The deal was signed in July 2023, after a memorandum of terms and conditions was agreed upon between the parties. The three companies are among seven companies in the portfolio of the Pre-IPO Fund of the Sovereign Fund of Egypt (TSFE), which aims to prepare state-owned companies for listing on the stock market or selling to investors. The other four companies are Misr Technology Services, El Mostakbal for Urban Development, Misr Life Insurance, and Salhia Investment & Development Company.

The government is expected to finalize the sale of a stake in Eastern Company, the largest tobacco producer in Egypt, by the first half of 2024, sources told Daily News Egypt. The Holding Company for Chemical Industries, which owns 50.95% of Eastern Company, has received several offers from foreign investors to buy up to 30% of its share in the company. The bidders include Japan Tobacco International (JTI), United Tobacco Company, which is majority-owned by Philip Morris International, and an investor from the Arab Gulf region. The sources said that the bids of JTI and United Tobacco Company were around $700m each. Eastern Company owns about 24% of United Tobacco Company and produces various local and foreign cigarette brands in Egypt.

• It called on the world states to respect their obligations under the International Covenant on Civil and Political Rights, develop coexistence and tolerance strategies, and adopt legislation prohibiting incitement to hatred. - Logic does not accept the legislative understanding of freedoms to be without fixed frameworks! The conference was inaugurated by His Excellency the President of the Association of Islamic Universities, Sheikh Dr. Muhammad Al-Issa. Then the conference sessions followed, in which senior scholars and academics, including presidents of major universities in the Islamic world, delivered speeches tackling the theme of the conference, including details of its important topics. The conference was widely covered by Arab, Islamic, and international media.

CAIRO – 29 August 2023: Chairman of Sudan Transitional Sovereignty Council Abdel Fatah al-Burhan said Tuesday in a press conference in Egypt that the Sudanese Armed Forces aims for achieving democracy, holding elections, and not remaining in power. Burhan noted that the Sudanese Armed Forces was facing rebel groups that committed war crimes against civilians in Khartoum, Geneina, Nyala, and Zalingei. We want to make a real transitional period paving the way for the Sudanese people to hold free and fair elections to select a ruler," Burhan said. "There are lies that the Armed Forces is fostering the former regime, Islamist and terrorist groups. Those are a scarecrow to frighten the Sudanese people," the chairman of Sudan Transitional Sovereignty Council added.

CAIRO – 29 August 2023: President Abdel Fatah al-Sisi received Tuesday Chairman of Sudan Transitional Sovereignty Council Abdel Fatah al-Burhan at New Almain stressing Egypt's incessant support to the security, stability, unity, and safety of Sudan. The chief of state equally underscored that Egypt and Sudan share historic ties and strategic joint interests. On his side, Burhan commended the backing of Egypt to Sudan's safety and stability during that predicament, the country's hosting of Sudanese citizens, and its effective role in the region and Africa. The chief of the Sudan Transitional Sovereignty Council welcomed that pathway which had already begun by holding the first related summit in Egypt recently. The talks also covered ways of cooperation and coordination to support the Sudanese people, particularly through humanitarian and relief aid until Sudan overcomes the current crisis.

ACWA Power, a Saudi Arabian energy company, is committed to supporting the global trend towards sustainability by providing clean energy and innovative energy solutions. ACWA Power has five projects in Egypt, all in the renewable sector, with multi-billion dollar investments in solar and wind energy projects. ACWA Power, a Saudi Arabian energy company, is working on three major renewable energy projects in Egypt, which are expected to be completed by 2026. Some of the markets that ACWA Power is interested in are:China: ACWA Power recently signed MoUs with nine renowned Chinese entities, coinciding with the 1st China Arab Summit and President Xi Jinping’s state visit. ACWA Power, a Saudi Arabian energy company, regards Egypt’s approach to green hydrogen as an important step in diversifying the energy mix and reducing carbon emissions.

The incentives are expected to boost industrialization, reduce imports, and increase exports. He added that the incentives would enhance the competitiveness of manufacturers and help them localize and deepen local industry. Zidan urged the government to issue decisions related to export support through export incentives, especially since some countries offer up to 27% in export subsidies. He also called for restructuring export incentives and studying the inclusion of old and existing factories in the tax incentive package. He noted: “Working within the framework of a clear vision to support industry and increase exports would boost exports achieving unprecedented numbers.

Egypt’s government is monitoring the availability of basic commodities in the markets and providing them at reasonable prices, as the Russian-Ukrainian crisis continues to have its repercussions. This was stated by Prime Minister Mostafa Madbouly on Monday at the government headquarters in the new city of El Alamein, where he discussed with Minister of Supply and Internal Trade, Ali Al- Moslehi, the efforts to supply basic commodities to the citizens. The Minister of Supply reported that Egypt has sufficient stocks of wheat, edible oil, sugar, and rice for several months. He also said that Egypt has imported meat from India, Brazil, Sudan, and Djibouti and offered it at supply outlets at reasonable prices. He added that there are plans to establish seven strategic warehouses across Egypt, near the ports and the production areas.

Startups in Kenya and Egypt were the top recipients of equity funding from investors in Africa in the first half of 2023 (H1 2023), according to a new report by Briter Bridges. Regarding the deal volumes, the report indicated that Nigeria closed 100 deals, while Kenya has closed over 80 deals so far, followed by South Africa with over 60 deals, Ghana with over 35 deals, and Egypt with over 15 deals in H1 2023. It indicated that the first six months of 2023 have been particularly challenging for startups and investors alike looking to raise funding. Funding to startups in Africa peaked from Q3 2021 to Q1 2022 with the downturn in funding volumes starting in Q2 2022. “The volume of funding dropped by 26% from H2 2022 to H1 2023 and has largely been on a downward trend in 2023.

CAIRO – 28 August 2023: Egypt’s President Abdel Fattah El-Sisi has approved the inclusion of the Ministry of Defense’s martyrs and victims of war operations to the Martyrs and Victims Honoring Fund, the Presidency said in a statement today. The president also approved adding the martyrs and victims of terrorist operations from the Ministry of Interior, including the names of martyrs and victims in the Battle of Ismailia on 25 January 1952, to the beneficiaries of the Fund. The meeting reviewed the annual report of the Fund's activities and services for the benefit of martyrs and victims of war and terrorist operations, in coordination with the relevant state’s authorities. The meeting also discussed initiatives proposed for the next period for the benefit of the beneficiaries of the Fund. The Martyrs and Victims Honoring Fund was established in 2018 to support the families of those killed or injured in the military, counterterrorism or security operations by imposing an LE 5 tax on services provided by public institutions.

For better or worse, true friendship stays forever. 5- True Friendship Measurement is by Actions, not Words or Fun Hangouts“Actions speak louder than Words.” Always remember that. A true friend shows their true feelings, and colors when something of great importance is at stake. Whether it's a physical setback or a mental state, a true friend will be there to pick you up and hold your hand. A good friend can make you have a good time, but a true friend is there at the worst of times.

Creators come to Instagram every day to create and connect, grow their audience, and build their businesses. With more than 2 billion people using Instagram each month, Instagram offers a global reach and a wide breadth of features, making it a one-stop-shop for all creators. Now you can create rechargeable and entertaining reels using a variety of editing tools. Make sure to keep an eye on rising trends and music by browsing other reels and checking out @Creators weekly reels of round-up. Now you can create rechargeable and entertaining reels using a variety of editing tools.

Last Thursday, Prime Minister Mostafa Madbouly appointed Ahmed Abdel Rahman El Sheikh as the new EGX chairperson for a year, starting from 26 August 2023. Daily News Egypt learned that the new EGX chairperson will prioritize the“trading control” file and continue working on the open files according to their importance. Market experts expressed their hopes that the new EGX chairperson will complete the files that the previadministration tried to resolve to develop the market. He held this position for six years until he was appointed as the vice chairperson of the EGX in December 2018. He held this position until last Thursday, when he was appointed as the new EGX chairperson for a year, starting on 26 August 2023.