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.

CAIRO – 27 August 2023: Prime Minister Mostafa Madbouly stated that the Government of Egypt is working on strengthening the private sector’s role and increasing its contribution to the economy to reach 65 percent over the next few years. Mabouly’s tour included the automotive industry modernization center and a group of auto factories, where he visited a number of production, assembly, and spare part sites. During the meeting, Madbouly reviewed Egypt’s efforts and progress in advancing its automotive industry. The prime minister added that in October 2022, Egypt issued Law No. 162, which provided the launch of two main entities to maintain coherent, consistent, and dynamic policies for the automotive sector.

As the new academic year approaches, e-commerce platforms are offering attractive discounts and deals for customers looking for school supplies, fashion, home appliances, and electronic devices. Some of the platforms that have launched their back-to-school campaigns are Jumia and Noon, which are competing to provide the best prices and services for their customers. Jumia will also feature one-day offers that change daily and offer large discounts for a limited time. The platform offers discounts of up to 70% on fashion, stationery, and educational toys, 40% on backpacks, and 35% on electronic devices. Noon also offers discounts of up to 65% on sandwich makers, juicers, and blenders.

President Abdel Fattah Al-Sisi has called for more efforts to boost Egyptian industry as a vital driver of economic growth, stressing the importance of industrial progress for the advancement of other sectors. He also instructed the authorities to facilitate the private industrial sector and remove any barriers to its success, especially by creating a favorable environment and offering incentives and facilities for industrial investment. He emphasized the need to foster a culture of value addition in Egyptian industry, to maximize the benefits in terms of local production, technological development, and economic returns for the country and its citizens. The President made these remarks during a meeting on Sunday with Prime Minister Mostafa Madbouly and Trade and Industry Minister Ahmed Samir. The President was briefed on the ongoing efforts to establish integrated industrial clusters and zones, support manufacturing industries, and identify the priority areas where Egypt has a strong industrial base, opportunities, and competitive advantages at the regional and global levels.

Minister of Labor Hassan Shehata on Saturday said the the ministry will finalize and launch the National Strategy for Employment soon with a view to coping with changes taking place in the labor market. Several stages of the strategy’s implementation have been finalized, upon directives of President Abdel Fattah El Sisi, the minister said in statements to MENA. The National Employment Strategy will contribute to outlining the market needs in order to reduce the unemployment rates, the minister said, highlighting the Labor Ministry’s efforts to secure job opportunities in cooperation with partners and other ministries. He pointed out to the maintained cooperation with the International Labor Organization (ILO) towards formulating the the National Employment Strategy. He asserted keenness of the Labor Ministry on the swift finalization of the strategy in order to document policies of labor market, offer services and occupational incentives, along with providing verified information.

The long-standing dispute over the Grand Ethiopian Renaissance Dam (GERD) has entered a new phase, as the water ministers of Egypt, Ethiopia, and Sudan met in Cairo on Sunday to resume negotiations on the filling and operation of the dam. The GERD, which is being built by Ethiopia on the Blue Nile, is expected to hold 74 billion cubic meters of water, an amount that could affect the water shares of Egypt and Sudan, which depend on the Nile for most of their water needs. Egypt has been calling for a binding legal agreement that would ensure its water security and prevent any unilateral actions by Ethiopia. Ethiopia, on the other hand, has been insisting on its right to use its natural resources for development and electricity generation. According to Abbas Sharaky, a professor of geology and water resources at Cairo University, this meant that the dam lake would have about 36 billion cubic meters of water in a few days.

Turkish actor Burak Özçivit on Saturday shared several photos of him touring the Giza pyramids area in Egypt. This came through his official account on Instagram, where he wrote: “#egypt🇪🇬 Shooting Day… ⛰️”Özçivit is a Turkish actor, born on December 24, 1984 in Istanbul, Turkey. Following his graduation, Özçivit worked in modeling and was awarded Top Model of Turkey in 2003 and world’s second best model in 2005. He would then enter the advertising field before started his first foray into acting in 2006, starring in the Turkish series “Eksi”. It would be his performance in the horror movie “Musallat” (2007) that would mark the beginning of his successful film career.

CAIRO – 27 August 2023: A new round of tripartite talks between Egypt, Sudan, and Ethiopia regarding the controversial Grand Ethiopian Renaissance Dam (GERD) resumed on Sunday in Cairo, according to a statement by the Egyptian Ministry of Irrigation. 2- During the period of these negotiations, Ethiopia has indicated its commitment, during the filling of the GERD within the hydrological year 2023-2024, not to cause significant harm to Egypt and Sudan, so that the water needs of both countries are well provided. Egypt and Sudan have been calling on Ethiopia to sign a legally-binding agreement to ensure the preservation of their water interests and people’s rights. However, Ethiopia has rejected the signing of such a deal and has continued its dam filling and operation plans over the past years. Ethiopia is also preparing to implement the fourth filling of the dam’s 74-billion-cubic-metre reservoir during the coming period despite the two countries’ objection.