Ahmed Kamali, Egypt’s Deputy Minister of Planning and Economic Development, has reviewed the investment plan proposal for fiscal year (FY) 2023/24, which focuses on two main elements: human development and stimulating the private sector. Kamali also added that the ministry worked through the system to build a correct database and benefit from the huge data available. He added that the Ministry’s employees developed the system which reflects the keenness of the Ministry of Planning and Economic Development to continuously develop. He explained that the Ministry of Planning considered the state ownership document when preparing the plan for the next fiscal year. He referred to the improvement in education and health indicators, stressing that Egypt is progressing in implementing sustainable development goals.

Kamali also added that the ministry worked through the system to build a correct database and benefit from the huge data available. He added that the Ministry's employees developed the system which reflects the keenness of the Ministry of Planning and Economic Development to continuously develop. He explained that the Ministry of Planning considered the state ownership document when preparing the plan for the next fiscal year. Kamali stressed that human development is the main engine of growth because the greatest development experience in the world is to invest in people, this is consistent with Egypt's Vision 2030 and the UN's sustainable development goals. He referred to the improvement in education and health indicators, stressing that Egypt is progressing in implementing sustainable development goals.

Countries like China, India and Brazil have a massive emerging middle class ready to explore South Africa and the continent. BRICS is the acronym for an emerging-market bloc that groups Brazil, Russia, India, China, and South Africa. She stated that BRICS is growing and have the potential to increase trade with African countries. “The BRICS countries constitute the largest trading partners of Africa and the most significant new investors. This year, the BRICS countries overtook the G7 countries as the most significant combined economy.

Egypt’s President Abdel Fattah Al-Sisi met on Tuesday with South Sudan’s Presidential Advisor on Security Affairs Tut Gatluak, in the presence of Director of the Egyptian General Intelligence Service, Abbas Kamel. Gatluak handed the president a letter from his South Sudanese counterpart, Salva Kiir, on ways to strengthen the distinguished bilateral relations between the two countries. This is in addition to reviewing developments in Sudan and consulting on efforts to resolve the crisis in order to safeguard the safety and security of the fraternal Sudanese people, according to the spokesperson of the Egyptian Presidency. During the meeting, the grave challenges facing Sudan at the humanitarian, security and political levels have been tackled. The meeting also addressed the importance of encouraging Sudanese parties to maintain the truce and move towards a comprehensive and lasting ceasefire to allow for the delivery of humanitarian assistance and relief.

Abdel Fattah Al-Burhan, chairperson of Sudan’s Sovereign Council and commander-in-chief of the Sudanese Army, said on Tuesday that the Sudanese government is open to any initiative that may help relieve the suffering of the Sudanese people. “Al-Burhan expressed the Sudanese government’s openness to any initiative that would help relieve the Sudanese people of the atrocities committed by the rebel Rapid Support Forces (RSF),” it said. Türkiye is “ready to host the talks if they decide to start comprehensive negotiations,” the statement quoted Erdogan as saying. Erdogan also discussed with Al-Burhan the evacuation and safety of Turkish citizens in Sudan, the statement said. So far, the deadly clashes have left at least 550 people dead and 4,926 others wounded, according to the Sudanese health ministry.

Egypt intends to lower the oil price at $80 per barrel, decreasing by 15% in the 2023/2024 fiscal year’s budget, Asharq Business reported citing an official document. The document also stated that the country is expected to set the imported wheat price at $340 per ton for the 2023/2024 fiscal year, 20% down from $424 per ton in the current fiscal year’s budget. Earlier this year, Egypt’s oil and gas exports declined in the first 2 months of 2023, declining 28.1% to hit $1.97 billion, compared to $2.74 billion in January-February 2022, revealed the Central Agency for Public Mobilization and Statistics (CAPMAS). CAPMAS reported that crude oil exports fell by 58.8% to reach $243 billion, compared to $590 million during the same period in 2022.

The Egyptian Meteorological Authority anticipates a new rise in temperatures starting Wednesday across most parts of the country ranging from three to four degrees. The EMA published its forecasts for the weather in the country from Tuesday, May 9, until Sunday, May 14. The authority expects cold weather in the morning and hot weather during the daytime over Greater Cairo, Lower Egypt and northern Upper Egypt. Warmer weather is set for the northern coasts while hot in South Sinai and southern Upper Egypt. Temperatures will be cold at night in the north of the country, Greater Cairo and northern Upper Egypt, while moderately hot in southern Sinai and southern Upper Egypt.

The President of the Transitional Sovereignty Council and Commander-in-Chief of the Armed Forces in Sudan General Abdel-Fattah al-Burhan thanked the Egyptian President Abdel Fattah al-Sisi and all of Egypt for aiding the Sudanese people during their ordeal. During a telephone interview with the Egyptian satellite channel “AlQahera News,” Burhan said that “the Egyptian people are no strangers to the Sudanese, and their generosity and reception of the Sudanese is ancient. In every ordeal that befalls Sudan, they are closer to the Sudanese.”“We salute them and thank them, and the matter is not strange to them. “The brutal and oppressive Rapid Support Forces, takes refuge in citizens, their homes, in service centers, and in everything that can shelter and secures to citizens. They are present there for fear of attacks by the armed forces,” he explained.

The Israeli airstrikes targeted several homes and residential buildings across Gaza, according to a MENA report. The final number of casualties has not yet been confirmed by the Palestinian Ministry of Health amid fears that many victims could be buried under the rubble as rescue operations are underway, said WAFA. Israeli newspaper, The Jerusalem Post, said the Israeli army assassinated a number of senior members in the Palestinian Islamic Jihad (PIJ) movement in the airstrike, declaring the launch of Operation Shield and Arrow. The officials targeted include the commander of the al-Quds Brigades in the northern Gaza Strip, an official responsible for activities in the West Bank and the secretary of the military council in the movement.

It said in a statement that“Israel flouts all international positions and demands, the signed agreements, and UN resolutions that call for and demand the cessation of settlement activity. “It is illegal, illegitimate, and a crime that threatens to undermine the principle of the two-state solution and the opportunity to establish the Palestinian state on the ground with East Jerusalem as its capital, in accordance with UN resolutions,” said the statement. The Ministry considered increasing and expanding settlements“a blatant challenge to the will of the international community, and a disregard for the American and international positions that warn of their dangers in the conflict, and a dangerous escalation of the situation. The Ministry said that“the occupying state is taking advantage of double international standards to implement more of its expansionist colonial plans, and to move forward with the creeping gradual annexation of the occupied West Bank.”It also believes that Israel's continued impunity and escaping trial for its crimes encourages it to commit more of them, foremost of which are the settlements. The Ministry stressed that cessation to all forms of settlement activities is the correct approach to restoring confidence between the Palestinian and Israeli parties in preparation for launching a real negotiated political process that puts an end to the Israeli escalation and leads to resolving the conflict through peaceful political means.

The training included the implementation of a number of joint exercises, including air refueling training, which contributes to the exchange of training experiences between the participating elements from both sides. The training showed the extent to which the air force fighters have reached a high professional level that qualifies them to carry out all tasks.

During the meeting, the Prime Minister thanked the World Bank delegation for their efforts to finalise the new country strategy between Egypt and the World Bank Group for the period 2023-2027. The Prime Minister affirmed that the government is committed to giving way to enhancing the role of the private sector in economic fields. Madbouly added that he holds various meetings with representatives of the private sector to exchange views on different economic policies and to overcome difficulties they may face. The meeting touched on the developments of the ongoing crisis in Sudan, where the Prime Minister presented efforts made by the Egyptian state to facilitate the crossing of Sudanese and to provide them with all possible services. She announced that the Egyptian private sector is preparing to launch“private green bonds” valued at around $120-200m.

The Egyptian and Indian air forces have carried out joint trainings at one of the Egyptian air bases, in the framework of supporting and strengthening military cooperation between the two friendly and brotherly countries. The training included the implementation of a number of joint exercises, including air refueling training, which contributes to the exchange of training experiences between the participating elements from both sides. The training showed the extent to which the air force fighters have reached a high professional level that qualifies them to carry out all tasks.

The Ministry of Supply proposed an initiative to exempt Egyptians coming to Egypt from fees when they buy gold from abroad. Under the initiative, any Egyptian coming from abroad is exempt from fees imposed on between 100 and 150 grams of gold, which is equivalent to three gold bars weighing 50 grams per bar. The proposal aims to find a mechanism to provide gold supplies in the Egyptian market in order to stabilize prices, he added. Moselhy also submitted a draft decision to exempt gold ornaments and gold bars imported with Egyptians from abroad from all taxes and fees. Gold prices declined in Egypt, Monday by LE30 compared to Sunday, as the price of 21 karat fell to record LE2,600 per gram, amid a slowdown in demand for gold on the local markets.

The minimum price for purchasing the certificate is EGP 100,000 and its multiples, and the return is calculated starting from the day following the purchase, and it is automatically renewed unless the customer requests not to renew. The bank allows the customer to retrieve the certificate after 6 months have passed from the date of purchase, so that 11% is deducted if it is redeemed before the first year, 10.5% in the second year, and 10% in the third year. The bank had recently revealed that its deposit product portfolio had achieved remarkable growth, whether at the level of individual deposits or corporate deposits, as the deposit portfolio increased by 42% to reach EGP 89.5bn by the end of 2022, compared to about EGP 63bn by the end of 2021, an increase of EGP 26.5bn. A report by the bank's board of directors revealed that the individual deposits portfolio increased by 21.36%, to record EGP 27.2bn at the end of 2022, compared to EGP 22.4bn at the end of 2021. The corporate deposits portfolio also witnessed a growth of 53.9%, to record EGP 62.2bn, compared to about EGP 40.5bn.