Despite the challenges facing non-bank financial activities, such as high interest rates and the inflationary environment, expectations indicate a bright increase while maintaining the same growth rates during the current year. Daily News Egypt surveyed experts on expectations of growth rates in all non-banking financial activities. Double-edged swordMohamed El-Feki, co-founder of Sympl platform, which specializes in “buy now and pay later” services, explained that the rise in interest rates is a double-edged sword. Electric appliances and electronics accounted for the largest share of the financing value, at 38.2%, with financing value amounting to EGP 3.3bn of the total financing value granted. In the second place came the purchase of cars and vehicles, with its acquisition of 26.1% of the total value of financing, with financing value amounting to EGP 2.2bn.

The ETIC has hired 400 technology experts so far. The centre will provide 5,000 job opportunities until 2025, and will achieve digital exports worth $300m over 3 years. The establishment of PwC’s Egypt Technology and Innovation Center comes in line with its vision to expand in the region in general and in Egypt in particular and to reinforce the company’s commitment to accelerating digital transformation across the region. During the past year, PwC signed a strategic memorandum of understanding with ITIDA to enhance the company’s continuous investment in its capabilities. PwC is a network of companies present in 152 countries and has approximately 328,000 employees committed to providing the highest quality standards in audit, advisory and tax services.

The accreditation and membership of the (FIRST) Forum aim to enhance and expand the collaboration and coordination through exchanging the expertise among member teams towards combating cybercrimes, facilitating rapid responses, supporting the development of common means of data exchange among members, and facilitating effective handling and responding to cyberthreats. FIRST forum also supports cooperation and strategic partnerships between countries and global institutions, links incident response teams from all member countries together and facilitates the exchange of technical expertise and cybersecurity intelligence. EG-FinCIRT membership in FIRST Forum comes in line with CBEs strategy, which aims to enhance the participation of the Computer Incident Response Center for the financial sector in implementing the national cybersecurity strategy efficiently and effectively; while improving the ability of state institutions and authorities to respond in a timely manner, cooperate and coordinate in preventing cyber-attacks. CBE's membership in the forum also contributes to supporting and raising Egypts Global Cybersecurity index, which also contributes to boost the confidence of the country's digital economy, supports in the attraction of foreign investments, and enhances the security and safety of critical banking infrastructure through immediate global exchange of the latest incident response frameworks and international best practices. FIRST is a global leader in cyber incident response, bringing together a diverse group of cyber incident response teams from government entities, businesses, and educational institutions, with currently over 600 members from around the globe.

We're going to delve into the depths of hoarding, understand why it's a bad thing, explore its root causes, and provide practical tips to conquer the clutter and embrace a clutter-free lifestyle. Hoarding, in simple terms, is the excessive accumulation of possessions and an overwhelming reluctance to let go of them. Now that we understand hoarding better, here are some practical tips to help individuals overcome hoarding tendencies and embrace a clutter-free life1. While hoarding may seem like an insurmountable challenge, with awareness, understanding, and the right strategies, it's possible to break free from its grip. By acknowledging the negative impact of hoarding, exploring its root causes, and implementing practical tips, individuals can reclaim their spaces, restore harmony in their lives, and enjoy a clutter-free life.

This came in the presence of Ali Abu Sunna, the Chief of the Environmental Affairs Agency, Tariq Al-Arabi, the Head of the Waste Management Regulatory Agency, and a number of representatives of the Ministry of Environment and experts. During the meeting, Fouad reviewed one of the models of the extended product liability system proposed in the field of plastic waste and packaging and the circulation of single-use plastic bags. The minister listened to a detailed explanation about the extended product liability policy and its applications in some other countries, its advantages and obstacles, and the German company's presentation about the German model in applying the extended product liability policy in terms of the nature of the executing agency, the procedures governing its application, and the method of implementation. For his part, the representative of the German company confirmed that the climate in Egypt is promising for implementing the policy of extended product liability, especially with the steps taken by the Egyptian state recently in developing the waste management system. The minister added that the planning, regulatory and oversight role of the Waste Management Regulatory Agency includes studying the most appropriate ways and mechanisms to implement the extended product liability policy in a way that benefits the producer, the consumer and the environment at the same time.

In an article dubbed “Where to travel in 2023: The best destinations to visit,” CNN Travel showcased some of the best tourist destinations to be this year, with Cairo making the list. The report referred to the Grand Egyptian Museum, considered the largest museum dedicated to a single civilization. It showcased the Egyptian Museum in Tahrir Square and the wonderful archaeological treasures it contains. Coptic Cairo, part of Old Cairo, has a concentration of Christian sites that pre-date the arrival of Islam,” it added. CNN Travel highlighted Al-Azhar Park and its vast green spaces and a design inspired by historical Islamic gardens.

Axis, a digital payments platform for small businesses, has launched its services, in partnership with Visa, the world leader in digital payments. Axis has obtained the licence from the Central Bank of Egypt (CBE) for its open-loop mobile wallet, offering a digital banking alternative for small businesses and their employees. With Axis, small businesses can streamline their payments to employees and suppliers digitally. During the ceremony, Jacques Marco, Axis Founder and CEO, said: “Small businesses are the backbone of the Egyptian economy, contributing to 80% of Egypt’s GDP. The team is made of experienced FinTech experts who are building a world-class digital payments platform for small businesses.

Egypt signed an agreement with Euroclear in late 2019 to pave the way for the settlement of its domestic debt in Europe, with the aim of making Egyptian bonds accessible to foreign investors, who currently can only access the market through a small number of local banks. Zaazaa told Daily News Egypt that the company is working on the second stage of its launch, which is to handle treasury bills issuance instead of the Central Bank by the end of next August, after it had started the bond clearing and settlement activity instead of Misr for Central Clearing, Depository and Registry (MCDR) earlier this week. He added to the Daily News Egypt that any government financial instruments will be processed by the ECSD, especially the activity of sovereign sukuk, if it is offered inside Egypt, and the secondary market. The ECSD was established with the aim of registering, depositing and settling government debt instruments with an authorized capital of one billion pounds, with an ownership structure distributed between the Central Bank by 70% and the Ministry of Finance by 30%. The ECSD aims to manage deposit and settlement operations for all government debt instruments through a unified legal entity operating in accordance with international standards.

CAIRO – 18 May 2023: The foreign ministers of Egypt, Saudi Arabia, Bahrain, Morocco, and Jordan convened Wednesday on the sidelines of the ministerial meetings held to prepare for the Arab summit taking place in Jeddah. The ministers conferred over regional and international developments, including the updates of the Saudi Arabia-Iran deal signed in March. Minister of Foreign Affairs Sameh Shokry attended Wednesday the first meeting of the Arab Ministerial Contact Group on Sudan, and that took place on the sidelines of the Council of Arab Foreign Ministers' meeting in Jeddah. The group was formed upon a decree by the Council of the Arab League during its extraordinary session on May 7, and has as members Egypt, Saudi Arabia, and the Arab League's secretary general. The group also expressed support to Jeddah Declaration of Commitment to Protect the Civilians of Sudan.

The committee had decided, in its meeting held on 30 March to raise the basic interest rate at the Central Bank by 2%, to reach 18.25% for deposits, 19.25% for lending, and 18.75% for the credit and discount rate and the price of the main operation at the Central Bank. Last week, the Central Bank of Egypt revealed that the basic consumer price index, prepared by its side, had recorded a monthly rate of 1.7% in April 2023, compared to 2.4% in April 2022, and a monthly rate of 2.5% in March 2023. The Central Bank indicated that the annual core inflation rate recorded 38.6% in April 2023, compared to 39.5% in March. It explained that the monthly inflation rate in cities also declined to 1.7% in April, compared to 2.7% in March. The agency indicated that the annual inflation rate for the entire republic was 31.5% in April 2023, compared to 33.9% in the previous March, 14.9% in April 2022.

Gold imported from abroad can be sold in the local market at the same price as local gold, said the head of the General Division of Gold at the Federation of Chambers of Commerce Hani Milad. He advised Egyptian expatriates to bring in gold bullion from abroad because it does not have charging fees, adding that the global price of gold globally has reached US$1,970, which caused the decline of gold prices in the Egyptian market. The Egyptian government approved a decision cancelling customs fees, except for VAT, on gold imported by Egyptian expatriates for a period of six months. The Ministry of Supply proposed an initiative to exempt Egyptians coming to Egypt from fees when they buy gold from abroad. The proposal aims to find a mechanism to provide gold supplies in the Egyptian market in order to stabilize prices, he added.

Egypt’s Minister of the Environment, Yasmine Fouad; held a meeting with representatives of a German company specialising in extended product liability systems to discuss ways to create a supportive climate for moving forward in preparing a national system for extended product liability and reducing the use of single-use plastic bags. This came in the presence of Ali Abu Sunna, the Chief of the Environmental Affairs Agency, Tariq Al-Arabi, the Head of the Waste Management Regulatory Agency, and a number of representatives of the Ministry of Environment and experts. During the meeting, Fouad reviewed one of the models of the extended product liability system proposed in the field of plastic waste and packaging and the circulation of single-use plastic bags. For his part, the representative of the German company confirmed that the climate in Egypt is promising for implementing the policy of extended product liability, especially with the steps taken by the Egyptian state recently in developing the waste management system. The minister added that the planning, regulatory and oversight role of the Waste Management Regulatory Agency includes studying the most appropriate ways and mechanisms to implement the extended product liability policy in a way that benefits the producer, the consumer and the environment at the same time.

The Computing Incident Response Team for the Financial Sector (EG-FinCIRT) of the Central Bank of Egypt has successfully obtained the accreditation and membership of the Global Forum Incident Response and Security Teams (FIRST), after fulfilling all technical and organizational requirements within a short period of time, to become the 1st internationally recognized sectoral CIRT in Egypt. The accreditation and membership of the (FIRST) Forum aim to enhance and expand the collaboration and coordination through exchanging the expertise among member teams towards combating cybercrimes, facilitating rapid responses, supporting the development of common means of data exchange among members, and facilitating effective handling and responding to cyberthreats. FIRST forum also supports cooperation and strategic partnerships between countries and global institutions, links incident response teams from all member countries together and facilitates the exchange of technical expertise and cybersecurity intelligence. EG-FinCIRT membership in FIRST Forum comes in line with CBEs strategy, which aims to enhance the participation of the Computer Incident Response Center for the financial sector in implementing the national cybersecurity strategy efficiently and effectively; while improving the ability of state institutions and authorities to respond in a timely manner, cooperate and coordinate in preventing cyber-attacks. FIRST is a global leader in cyber incident response, bringing together a diverse group of cyber incident response teams from government entities, businesses, and educational institutions, with currently over 600 members from around the globe.

The role of the UN in addressing international and regional issues, as well as international peacekeeping and peacebuilding efforts in various countries were also discussed. The two sides discussed issues related to the challenges facing the multilateral work system, including the work entrusted to specialized international agencies. They also discussed UN efforts for nuclear disarmament and non-proliferation, including efforts to denuclearize the Middle East region, as well as efforts to prevent an arms race in outer space. During the consultations, ambassador Badawi reviewed the determinants of the Egyptian position in connection with the UN system's handling of the current regional situations and crises. The two sides also discussed the prospects of the UN role in the settlement of disputes and conflicts witnessed by the countries of the region, in order to achieve peace and establish stability in the region as a common goal of the two countries.

Chris Hemsworth returns to the big screens as Tyler Rake in the upcoming sequel to the popular Netflix action thriller “Extraction” on June 16. In the first film, Rake narrowly escaped the horrors of his mission. Fans of the original film are eagerly anticipating the sequel, hoping that it lives up to the high expectations set by the first film. Given the talent behind the camera, along with the star power of Hemsworth, it seems likely that the sequel will not disappoint. In summary, the sequel to “Extraction” promises to be an action-packed film that is sure to thrill fans of the original and action enthusiasts alike.