These mechanisms also involve evaluating the economic impact of the idea of establishing a real estate exchange, which will serve as a platform enabling investors and real estate companies to buy and sell stakes in real estate assets and invest in them. This exchange would complement traditional real estate markets, offering opportunities for real-time trading and more liquid investments in the real estate sector. It is planned that the proposed draft laws will be presented to the Cabinet soon, contributing to facilitating foreign ownership of real estate, Saad added. The meeting also discussed notable international experiences related to real estate trading, as well as models of real estate stock exchanges in different countries that could be applied practically to the Egyptian real estate market. The meeting also addressed the proposal to hold meetings with Egyptian experts abroad specializing in real estate investment, to exchange insights on all matters related to this issue.

Ghatouri continued that those who want to withdraw the money transferred from their account to the Finance Ministry, and exit from the initiative after a year from the date of import approval, can apply on the electronic platform. They will then obtain it at the exchange rate at the time of recovery within three months, he added. This is in order to obtain import approval, and complete the rest of the necessary procedures to import their cars. The validity of the “import approval” for shipping and importing cars extends to five years, he explained, and that the reduced customs tax is valid throughout the period of validity of the “import approval”. The first owner has the right to import the car without being bound by the year of manufacture, he added.

Egypt on Sunday launched a website to receive requests from Egyptian expatriates who want to settle their conscription situation. The Foreign Ministry set thirty days for Egyptian expatriates to settle their statuses and called on them to meet the conditions and quickly register on the initiative’s website within the specified period. The Ministry of Immigration is coordinating with the Ministry of Solidarity to launch an umbrella for social and insurance protection to include all aspects of care for Egyptian expatriates in emergency situations, Minister of State for Immigration and Egyptian Expatriates Affairs Soha Gendy announced earlier in August. The Ministry of Immigration received more than 7,000 complaints and requests from expatriates last year through its pages on social media platforms, e-mail, the hotline, the unified government complaints portal and at the ministry’s headquarters, Gendy said. This came during her speech at the fourth session of the Egyptians Expatriates Conference, organized by the ministry and attended by more than 1,000 Egyptian expatriates from 56 Egyptian communities around the world.

CNN — At least 21 people are dead and six others missing after a flash flood and landslide following torrential rains in the outskirts of northwestern China’s Xi’an city, local authorities said Sunday. Nearly 1,000 rescue workers were deployed to Xi’an’s Weiziping village following the landslide and flash flood, with 186 people evacuated and relief efforts ongoing as of Sunday evening, authorities said. Restaurants were run out of the two destroyed homes, Cover News reported. Flooding killed at least 29 people in Hebei province and 33 in the capital Beijing, according to local authorities. Seven people were taking shelter from heavy rains at the house when it collapsed, according to China National Radio.

CAIRO – 14 August 2023: President of Sudan's Sovereignty Council Lieutenant General Abdel Fattah Al Burhan said, Monday that his country is facing ‘the largest conspiracy in its modern history’, explaining that all what Sudan needs in the main time is a ‘single, united army free from any distortions that threaten Sudanese national security in the future.’In televised statements, Al Burhan stressed that Sudanese Armed Forces will stand by the people until reaching ‘free and fair elections’ for the people to choose who will rule them.’Lieutenant General Al-Burhan stressed that the Sudanese Armed Forces support the rule of law and will remain in its covenant and seek to restore security and stability to Sudan, and will continue the process of building. Earlier in August, Egypt’s Foreign Minister Sameh Shoukry said that Sudan's Neighboring Countries initiative is a testimony to the unity of purpose, firm intentions and serious political will to help Sudan to get out of its ordeal by putting an end to such a devastating war. Speaking at the first meeting of the ministerial mechanism, currently taking place in Chad, Shoukry said: "Today's meeting aims to develop the resolutions of Cairo Summit on Sudan's seven neighboring countries - which took place on July 13 - into an executive vision and harmonized steps contributing to handling the causes of the current crisis, stopping the bloodshed of the Sudanese people, upholding the unity of the State and its institutions, along with cushioning the negative impacts of the crisis on the neighboring countries." The meeting of the ministerial mechanism is anticipated by million of Sudanese people, who are intimidated daily by the unabated fighting nationwide, Shoukry said. He added that: "Millions of hopeful Sudanese people; those who are remaining in their homeland, the ones who are abroad and those who fled the scourge of war to the neighboring countries, deem the initiative as the last resort".

CAIRO - 14 August 2023: As many as 518,943 services were provided throughout Egypt's governorates under the new presidential healthcare campaign dubbed "100-Day Health, as part of the 100-Million Health initiative", a report received by Health and Population Minister Khaled Abdel Ghaffar read. Health and Population Ministry Spokesman Hossam Abdel Ghaffar said Monday that the presidential initiative to support women's health achieved highest rates in the first and periodical visits on the 17th day. The 100-day campaign aims to intensify preventive care services (including immunizations and vaccines), as well as environmental health and food safety services while raising citizens' awareness concerning health-related misconceptions, the minister had pointed out. These clinics cover various specilalizations, such as internal medicine, paediatrics, surgery, ophthalmology, teeth, ear and nose, obstetrics and gynaecology, and dermatology, Abdel Ghaffar added. The 100 Million Health Initiative was launched in July 2019 under the auspices of President Abdel Fattah El Sisi.

Charlie Munger, Warren Buffett’s right-hand man, has warned of a major pullback in lending to commercial property. Around a third is offices, while a fifth is retail, with most of the remainder for industrial purposes. Ever since it became easier to invest in commercial property in the 1960s, the market was landlord-led. SpotifyOffices: Where we’re headingThe number of tenants looking for large stores, shopping centres and big uninviting offices is likely to keep falling. While some property valuations will inevitably depreciate, others will either hold their value or even increase.

Minister of Defense and Military Production Mohamed Zaki attended Saturday a ceremony held to honor retired army commanders who ended their tenures on July 1, 2023. Army Chief of Staff Osama Askar and commanders of top military branches also took part in the ceremony. The minister granted the retired commanders the state’s awards of the second class after President Abdel Fattah al-Sisi approved the awards in appreciation of their sincere national efforts during their service in the Armed Forces. Addressing the ceremony, the oldest commander extended his thanks to the Armed Forces for providing officers with all potentials to be well qualified at all levels. Meanwhile, the minister conveyed the greetings and appreciation of President Sisi to the retired commanders who have performed their duties with efficiency and dedication to serve and defend the homeland.

The 15th BRICS summit, to be held in South Africa this month, is expected to make the global governance system fairer and counterbalance the dominance of Western countries, Carlos Maria Correa, executive director of the South Centre, told Xinhua on Wednesday. The BRICS group of major emerging economies — Brazil, Russia, India, China and South Africa — will hold its 15th heads of state and government summit in Johannesburg between Aug. 22 and Aug. 24. The summit will be the first in-person BRICS gathering since the COVID-19 pandemic. Altogether, the BRICS nations account for more than 40% of the world population and about 26% of the global economy. “Among my hopes is that the current BRICS group considers the incorporation of other countries,” Correa said.

CAIRO - 13 August 2023: Industrial Development Authority (IDA) announced the launch of the fifth phase of the electronic map for industrial investment, with an area of ​​1.7 million meters distributed over 14 governorates. The IDA also announced 152 investment opportunities in the industrial sector today. The authority said in a statement Sunday that these investment opportunities could contribute to bridging a trade gap estimated at about $30 billion. Abdel Karim added these investment opportunities have been shared with relevant stakeholders, such as commerce chambers, and investment and business associations, in order to promote these opportunities and start implementing them. The investment opportunities are now available online on IDA’s website.

President Abdel Fattah al-Sisi, on Saturday, conferred with Prime Minister Mostafa Madbouly on the executive status of the investment plan of transportation projects. The meeting was attended by Minister of Planning and Economic Development Hala al-Said, Finance Minister Mohamed Maait, alongside Transport Minister Kamel al-Wazir. The president was, also, briefed on the underway efforts to renovate the railways sector, along with the work flow for upgrading both Metro Lines 1 and 2 in the Greater Cairo and establishing Metro line 4. He, meanwhile, listened to the updates of the underway renovation of ports nationwide. At a meeting with Madbouly and Wazir, the president was briefed on the efforts aimed at localization of the transport industry and railways through cooperation with the private sector and mega international companies.

The Egyptian Exchange (EGX) has launched Tasweyat company for clearing services, which specialises in the settlement of futures contracts. The first stage will be offering futures contracts on EGX30 and EGX70 indices, then moving on to higher stocks, then commodities and precious metals. Experts believe that Egypt was somewhat late in launching the futures market, as it will provide much needed liquidity and will help in the recovery of the stock market as well. Futures contracts are also used to generate profits through speculation. Maher added that the success of the futures exchange will depend on teaching both companies and investors how to invest in them and realize their value.

Guangzhou – Zhang Sihong, Vice President of the China Foreign Trade Center and supervisor of Canton Fair, has invited Egyptian businesspeople and companies to participate extensively and effectively in the 134th edition of the Canton Fair, which will be held in Guangzhou, China, next autumn. He said that the China Import and Export Fair, which has been held since 1957 and is held twice annually in spring and autumn. The fair witnessed the participation of 900 businessmen and representatives of Egyptian companies in the exhibition in its 133rd edition. The last edition of the exhibition last spring witnessed the participation of buyers from 229 countries and regions, including 129,000 in Guangzhou, and 390,000 online. Among the most prominent Egyptian products that showcased in that edition were textiles, home appliances, and health care products.

The role will be filled by Nayef al-Sudairi, the current ambassador to Jordan. In a statement, the ministry said the decision comes at an important timing and reflects the kingdom's interest in the Palestinian cause and its support of Palestinian rights. The ministry reiterated readiness to fully cooperate with the Saudi diplomat to serve Muslims and develop bilateral relations. Nayef handed over a copy of his credentials to Palestinian Presidential Adviser for Diplomatic Affairs Magdi al Khaledi.

CNN — Russian officials say multiple missiles were shot down over the crucial bridge connecting the annexed Crimea to the mainland on Saturday, the latest in a series of apparent Ukrainian attacks in the region. Two Ukrainian missiles were shot down on Saturday afternoon, the Russia-appointed Head of Crimea Sergey Aksyonov wrote in a post on Telegram, adding that the bridge was undamaged. Meanwhile, traffic has resumed on the Crimean bridge, according to the Crimean bridge operative information Telegram account, after it was temporarily blocked. The Kremlin was quick to blame Kyiv for that explosion, and Putin alleged that it was an act of “sabotage” by Ukrainian security services. The bridge was also hit by two strikes in July in an attack a Ukrainian security official told CNN Kyiv was responsible for.