Mohamed Maait, Minister of Finance, said that the third batch of the sixth phase of the lump-sum export subsidy payment initiative will start on Wednesday and Thursday. The amount will be disbursed to 744 exporting companies, with the total sum amounting to EGP 4bn. The value of the subsidy dues for the entire sixth phase is approximately EGP 12bn for 1,558 companies. He added that the Ministry of Finance disbursed about EGP 8bn to more than 800 exporting companies, in the first and second installments of the sixth phase of the immediate cash payment initiative, with the same previous controls. The Minister pointed out that the same export subsidy rules for the fiscal year 2021/2022 will be applied on the export subsidy dues for the fiscal year 2022/2023.

The Starscrapers Awards Drama Edition will kick off on August 24, 2023, in the picturesque city of New Alamein. The famed "Cairo Drama Festival" is finally back in its second and unique edition, taking place as part of the first-of-its-kind "Starscrapers" Awards mega event, celebrating "60 years of Drama." With the assistance of the most brilliant minds in the industry, CDF's exceptional edition will be honoring the top leading drama works of 2023. Additionally, it will withhold numerous surprises. On the occasion that the first Starscrapers awards ceremony will be hosting and celebrating CDF’s second edition, a press conference was held in New Alamein festival with the attendance of CDF head Yehia El Fakharany, CDF head of jury Elham Shahina, Actors' Syndicate head Ashraf Zaki, POD vice chairman Gamal Salah.

Prime Minister Mostafa Madbouly followed the business activity of the Eastern Company for tobacco products in a Monday meeting at the government headquarters in New el-Alamein City. The meeting dealt with developments in providing the raw materials necessary for the manufacturing operations of the company’s various products, especially cigarettes. A source familiar with the Eastern Company said that the cabinet meeting discussed the government’s preparations to increase the company’s documentary credits to increase the daily production quantities of cigarettes. The source added, speaking on condition of anonymity, that the company intends to increase production, and has the ability to increase production by the equivalent of 50 million cigarettes, or five million packs of cigarettes, to reduce price hikes. The head of tobacco division at the Egyptian Federation of Industries Ibrahim Imbaby, said that a breakthrough in the cigarettes crisis depends on issuing the tax legislation delayed since June.

The world is witnessing the steady rise of a new multipolar world order, said Russian President Vladimir Putin Tuesday during the 11th Moscow Conference on International Security. Discussing the global shift towards multipolarity, Putin said “Most countries are ready to assert their sovereignty and defend their national interests, traditions, culture.”The Russian leader pointed out that a multipolar world order will ultimately contribute to “steady and sustainable global development,” and help solve pressing social, economic, technological and environmental challenges. He further noted that those who currently provoke new conflicts around the world and try to escalate existing ones are “seeking to benefit from human tragedy” by dividing nations, enforcing obedience, and exploiting the resources of other states. NATO member states are actively building up their offensive potential, and are using military and non-military means to exert pressure on other states, he noted. By pumping billions of dollars into Ukraine, supplying Kyiv with equipment, and providing ongoing military assistance, Western states are further escalating the conflict and drawing other countries into it, he said.

The date for the al-Mawlid al-Nabawy 2023 (Prophet Mohammed’s birthday) holiday is set on Wednesday, the 12th of the hijri month of Rabi’ al-Awwal, which corresponds to September 27, 2023, according to an official announcement from the Presidency on Facebook. Muslims in various parts of the world celebrate the Mawlid holiday as an official paid holiday. No statements were issued by the Cabinet about having Thursday as a holiday instead of Wednesday for a long weekend. The Hijri, Lunar or Islamic calendar depends on the lunar cycle to determine the months, and some Arab countries such as Saudi Arabia have take it as the official calendar of the state. Celebrations of the Prophet’s birthday differ from one Islamic country to another, according to customs and traditions, all Muslims consider a day of peace and love as it is the day of the Prophet’s birth.

Egypt - Daily News Egypt learned that Al-Mansour Holding completed a restructure of its shares in Metro Market chain, in a deal valued at about EGP 118m. The sources added that the restructure process included a transfer of Metro Market to one of the group’s subsidiaries. The company conducted EGP 368.5m worth of transactions on 25.7 million shares through 72 operations, capturing a market share of 12.4%. Al-Mansour Group owns Al-Mansour Holding for Financial Investments, the largest distribution group in Egypt, providing a range of consumer goods through 130,000 outlets across the country and employing more than 8,000 people. According to the website, Al-Mansour Holding Company for Financial Investments was established in 1992, with a combined revenue of about $7.5bn.

On Tuesday, the Egyptian Foreign Minister, Sameh Shoukry, welcomed his Saudi counterpart, Prince Faisal bin Farhan, at the Foreign Ministry's headquarters in Tahrir Palace. The meeting was announced by the official spokesperson for the Egyptian Foreign Ministry, Ambassador Ahmed Abu Zeid, via the platform "X," previously known as "Twitter." The spokesperson for the Foreign Ministry affirmed that the two ministers explored ways to consolidate the bilateral relations between the two fraternal nations. He also mentioned that they discussed coordination and exchanged views on various issues and crises facing the region.

The agreement was in light of development cooperation efforts between the Arab Republic of Egypt and the United Arab Emirates. The International Cooperation Ministry released Q&As reviewing the efforts to enhance food security and the international partnerships concluded by the Ministry of International Cooperation over the past period. With the outbreak of the Russian-Ukrainian crisis, what are the most prominent measures taken to enhance food security? What are the most prominent efforts to enhance food security during the current year? Within the framework of Egypt's presidency of COP27, what are the most prominent pillars of international partnerships to enhance food security?

Following a successful world premiere at the Aswan International Women Film Festival (AIWF) last March, the hard-hitting Egyptian drama RAT HOLE is set to hold its international premiere at the Amman International Film Festival - Awal Film (AIFF), which will be running from August 15th to the 22nd. The film will also screen once more on August 20th at 10 pm at Taj Cinema 3. In a fresh take on a story that has never been discussed in the Arab world’s zeitgeist, the film follows a female telemarketer for a non-profit organization who tries to convince people to make financial contributions to her cause. Shining the spotlight on the struggle of an underpaid female telemarketer trying to make ends meet while being confronted with several moral dilemmas, RAT HOLE stars rising actress Rana Khattab who mesmerized the AIWF’s audiences with her exceptional performance in the lead role. The film’s cast also includes Mohamed Yorka (manager), Kamal El-Asnawy, and Hanan Helmy, among others.

CAIRO - 15 August 2023: The Egyptian Ministry of Health and Population revealed a package of preventive measures to protect against infection with the new mutant of the Coronavirus, Eris. The measures taken by the ministry include:1- Preserving vaccinations for the groups most vulnerable to infection with Corona. 2- Adhering to the precautionary measures. 4- Avoiding travel to countries where sick cases of the new variant of Corona appeared. 5- Advising those who feel symptoms of a common cold or coronavirus to head to the nearest hospital to receive needed treatment.

CAIRO- 15 August 2023: No cases of the new coronavirus were reported in Egypt but it is possible at any time, said spokesman for the Egyptian Ministry of Health, Hossam Abdel Ghaffar, said in an official statement on Monday. The new mutant is more widespread, but its symptoms are not so severe; it has the same symptoms as Omicron, he added. In April 2023, the Ministry of Health and Population confirmed that the epidemiological situation of Coronavirus in Egypt is no longer disturbing at all, noting that all isolation hospitals in the Republic have been closed. The ministry said that hospitals have returned to their normal work in providing services to the public away from the restrictions of Coronavirus.

Egyptian archaeological museums have announced the featured artefacts for July. As a monthly tradition, Egyptian archaeological museums nationwide have chosen featured pieces for July. Islamic Art MuseumIt displays an inlaid ivory and bone backgammon box, from the Ottoman era. Coptic MuseumIt displays a mashrabiya that was used to cover window openings or to separate the haramlek and the selamlik. Farouk Corner MuseumIt displays a backgammon game from the 20th century, made of wood inlaid with mother-of-pearl and ivory, with scenes inspired by ancient Egyptian art.

EFG Hermes has managed several successful initial public offerings (IPOs) in the Gulf markets, particularly in Saudi Arabia, the UAE, Kuwait, and Oman. Saudi MarketMohamed Fahmi, EFG Hermes’ Co-Head of Investment Banking, revealed that the company is managing about 4 multi-billion dollar IPOs in the Saudi Stock Exchange (Tadawul) during the current time. The Saudi market had a positive performance in the first quarter of this year. According to EFG Hermes’ Co-Head of Investment Banking, the Saudi government has worked directly to overcome obstacles to foreign direct investment. Fahmi believes that the strength of the Saudi market lies in the availability of multiple financing opportunities at all levels.

Egypt - MP Ghada Ali, a member of the economic committee in the House of Representatives, said that they prepared an integrated study for amending the Capital Market Law, in cooperation with the Financial Regulatory Authority. Last February, the committee approved, in principle, a bill submitted to amend the Capital Market Law for the trading of carbon certificates. The deputy stressed that Egypt will become the first country to have legislative support in that part to attract foreign investors, explaining that the amendments motivate investors to reduce the carbon footprint. She expected that the first voluntary carbon market would be launched within the next six months, stressing Egypt’s readiness in light of the existence of a legislative document that would attract foreign investments. © 2022 Daily News Egypt.

A new survey of Arab youth found that religion and family are the most important factors in their personal identity. The survey, conducted by ASDA’A BCW, the Middle East and North Africa’s leading communications consultancy, polled over 200 million Arab youth. The survey also found that Arab youth are concerned about the loss of traditional values and culture. Fewer Arab youth than in previous years feel the region needs to reform its religious institutions, down to 58% this year from 77% last year. ‘My Identity’ is the fourth sub-theme of the 2023 ASDA’A BCW Arab Youth Survey, whose overarching theme is ‘Living a New Reality’.