"I think definitely (Arsenal) are going to win their three (remaining) games," Guardiola said on Friday. There are four games left in the Premier League and it's really important to be there and keep our destiny in our hands." When asked how his players bounce back from Tuesday's physically and mentally draining draw, Guardiola said winning helps. His team have won 10 successive Premier League games. The Norway international has scored a record 51 goals in all competitions for City this season, and a Premier League single season record of 35 goals.

The Saudi embassy in Egypt announced the launch of its e-visa service for Egyptians on Thursday. The Saudi Foreign Ministry launched a new initiative to cancel the visa sticker on the holder’s passport, switching to e-visa. The Saudi Foreign Ministry launched the service in January, which allows for issuing a transit visa for tourists coming by air electronically. It aims to encourage travel to Saudi Arabia for any purposes and facilitate the procedures for obtaining an entry visa. The transit visa allows individuals to pass through Saudi Arabia and is applicable for short stays of over 12 hours.

The German International Cooperation Agency (GIZ) and the Ministry of Communications and Information Technology met to discuss current digital transformation cooperation projects between Egypt and Germany. Among these initiatives are the General Administration's objective to support innovation and a collaboration to establish a lab for developing government applications. They also addressed the Ministry of Communications and Information Technology's executive intentions to promote the information technology industry and provide an enabling environment for outsourcing investment. Egypt has made major advances in digital transformation and information technology. Egypt has also been aggressively seeking international alliances and partnerships to strengthen its capabilities and speed its digital transformation efforts.

Take all feasible precautions to avoid and minimize civilian harm, with an aim to vacate urban centers, including civilian houses. Allow and facilitate the rapid and unimpeded passage of humanitarian relief, including medical and surgical equipment, and ensure relief personnel the freedom of movement required for their functions. Adopting simple and expedited procedures for all logistical and administrative arrangements necessary for humanitarian relief operations. Refraining from interference with principal humanitarian operations and never accompany side by side humanitarian personnel carrying out humanitarian activities, in conformity with the Amended Directives and Procedures for Humanitarian Action in Sudan. Protect and respect humanitarian workers, assets, supplies, offices, warehouses, and other facilities.

REUTERS/Stringer/File PhotoCAIRO – 12 May 2023: Egypt’s initiative allowing its expats to import cars free of taxes and customs duties will expire on Sunday 14 May, the Ministry of Finance announced in a statement. Citizens can then withdraw their deposits after the end of the five-year period but in Egyptian currency. The ministry noted that the initiative has brought in around $835 million with daily registrations amounting to 6,000. More than 167,000 Egyptians living abroad have registered to benefit from the initiative, the ministry added. The initiative allows Egyptian expats over 16 years of age, who carry valid residence permits and foreign bank accounts, to import a private car for personal use within five years of registering in the initiative.

Expectations about a new official devaluation of the Egyptian pound before the end of the current fiscal year have declined, according to a report issued by the US leading bank Citigroup. Contrary to expert expectations, which suggest that the interest rate in Egypt will be raised and the Egyptian pound will be devalued against the US dollar, Citigroup’s Wednesday report stated that this step may be postponed for a month or two. This means it may not take place during the current fiscal year, ending on June 30. “In comparison, the pound’s 12-month contract was at 43.3 per dollar, signaling expectations of a steep devaluation eventually,” Bloomberg stated. The Egyptian pound price has been officially fixed in Egypt at about LE30.9 since March 20, after losing about half of its value since March 21, 2022.

Many citizens and investors are awaiting the Central Bank of Egypt’s meeting to settle the interest rate in Egypt, especially after the US Federal Reserve’s recent decision to raise the interest rate by 25 basis points. The next central bank meeting is scheduled on May 18. The first expected scenario for the Central Bank meetingEconomic researcher Yassin Ahmed expects the central bank to fix the interest rate at its next meeting, saying that the general budget does not bear the burden of raising interest rate. He explained that every one percent increase in the interest rate causes the state’s general budget to bear an additional debt burden of about LE32 billion, which leads to an increase in the interest cost in the state’s general budget, and thus impacts the debt and the budget deficit. Ahmed told Al-Masry Al-Youm that raising interest rates will not bear fruit, as raising interest rates in the past did not achieve the desired results nor did it reduce inflation rates.

The Egyptian Cabinet approved a draft decision regarding the publication of lists of customs reductions and appendices to the African Continental Free Trade Area (AfCFTA) in its weekly meeting. The AFCFTA includes African Union member states, and is a comprehensive agreement that governs areas of cooperation in issues of, trade in services and investment, competition regulations, liberalization of commodity trade, intellectual property rights protection, and provisions for dispute settlement. During the meeting, The Egyptian Cabinet also approved an agreement between Egypt and Qatar that aims to eliminate double taxation on income taxes and prevent tax evasion and avoidance. The agreement aims to eliminate double taxation applies to residents in one or both countries, and it also applies to a collective investment vehicle established in one of the two countries, and obtaining income that originates in the other country.

The Arab Federation of Capital Markets (AFCM) announced yesterday that EFG Hermes has won the “Best Broker in Egypt” and “Best Broker in Dubai” awards for 2022 during the awards ceremony held by AFCM on the 9th of May 2023 in Muscat, Oman. During 2022, the EFG Hermes brokerage division saw an increase in total executions by 31% Q-o-Q to in Q4 2022 on the back of strong executions in Egypt, the UAE, Saudi Arabia, and Kuwait markets. On an annual basis, total executions increased by 11% Y-o-Y, largely due to the increase in executions in Egypt and Saudi Arabia. Meanwhile, the brokerage division acquired a share of 40.2% of the Egyptian market in 2022, ranking first place in the market. Respectively, EFG Hermes’ Brokerage division focuses on three key goals: creating innovative products, effectively contributing to financial literacy, and extending unrivaled client support.

In a grand celebration, Ain Shams University awarded honorary doctorate to Dr. Mahmoud Mohieldin, UN Climate Change High Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, for his great contributions to the field of economy. The honoring was held during the eleventh conference of the university, in the presence of Dr. Mahmoud El-Metini, President of Ain Shams University, Dr. Mohamed Awad Tag Al-Din, Presidential Advisor for Health and Prevention Affairs, and a group of scientists, academics and researchers from inside and outside Egypt. Dr. Mahmoud El-Metini, President of the University, said that the University’s Board of Directors decided to grant the honorary doctorate to Dr. Mahmoud Mohieldin in recognition of his local and international contributions for more than 30 years, as the fifth international Egyptian personality granted this honor by Ain Shams University in its history. El-Metini expressed the pride of Ain Shams University in honoring Dr. Mohieldin, who is a great economic expert at the global level, and a man who honorably represented Egypt at the international level with more than thirty years of experience. For his part, Mohieldin thanked Dr. El-Metini and all the faculty members of the inveterate Ain Shams University, which since its establishment has been rich with great personaliyies at the scientific and academic level, pointing out that Ain Shams University has been and continues to be building edifices of science since its establishment in the fifties of the last century.

The Egyptian government is expected to sell an additional 10 percent stake in state-run Telecom Egypt through a share sale this month, aiming to raise cash and reassure investors, according to anonymous sources familiar with the matter. As early as this week, the company will begin a book-building process for institutional investors, with shares expected to be listed on the Egyptian stock exchange. This figure is discounted at 3.8% to Telecom Egypt's last close of LE 23.14 per share. The sale of a portion of Telecom Egypt is part of the government's plan to promote private sector growth while attracting international investors by exiting certain sectors. The company also holds a 45 percent stake in Vodafone Egypt.

Daily News Egypt surveyed the market about the impact of all these changes on the banking sector shares listed on the Egyptian Exchange. Therefore, it is natural for the banking sector to be affected by the rating. He explained that it is a natural sequence of events and will not affect the stock market, but it may affect the transactions of foreigners in the Egyptian market. She explained that the banking sector represents about 25% of the total market capital in the Egyptian Exchange, and the banking sector is still one of the promising sectors in the Egyptian Exchange. According to the Egyptian Exchange data, the Egyptian banking sector is trading at a profitability multiple of 4.78 times, while the market is trading at a profitability multiple of seven times.

Morgan Stanley indicated that it will not implement any adjustments in the framework of the upcoming index review for any securities in Egypt classified for listing on the MSCI indices and related composite, derivative and special indices. MSCI indices criteriaEntering the MSCI indices requires meeting several criteria, on top of which are the daily trading volume and the percentage of free trading, in addition to the market value of the listed companies, and there are 3 companies already. He explained that this is the main reason behind expectations that the revision of the Stanley index will not affect trading in the Egyptian market. Alfy explained that if the economic situation improves and effective measures are put in place, foreign investments will be pumped to revive the Egyptian market. He pointed out that the lack of clarity of vision regarding the exchange rate made investors think of backing away from the decision to move the exchange rate of the pound against the dollar.

The Palace Tent, which was set this year at the historic Baron Palace in Cairo, has charmed its way into everyone’s heart and has been crowned as the trendiest and most luxurious Ramadan tent in Cairo in 2023. The Palace Tent offered its guests an elevated and refined live entertainment program throughout the Holy Month ranging from live music performances to cultural shows. The stunning backdrop of the renowned Baron Palace was the perfect setting for our tent, offering a unique and unforgettable experience for those enjoying Ramadan in style. With its exquisite decor, delicious cuisine, and exceptional vibes, the Palace Tent became the talk of town during Ramadan. This takes me to Meraki and Beyond, which is the organizing arm & critical contributor to the success of our venue.

During his speech at the Future Data Centers Conference (FDC), he added that Egypt has many advantages in this field, including energy resources. This is an opportunity for the Egyptian market to attract these industries, in addition to re-exploiting those resources in a different way through the internal export of energy. El-Gamal explained that electrical energy can be converted into information energy by providing energy to data centres and exporting it abroad in the form of information energy, after it is reinforced with a set of added values. These values tend to have a great impact on reshaping economic and operational concepts to maximize digital exports and reduce the need for digital imports for the Egyptian market. Global reports indicate that by the end of 2023, spending on data center systems is expected to reach $222bn, while data center market revenues will reach $342bn.