Egypt’s Minister of Finance, Ahmed Kouchouk, emphasised the government’s commitment to enhancing Egypt’s business environment to attract investors across various economic sectors. He noted that in the coming period, the government will engage more openly with the business community to provide greater economic opportunities for the private sector. The government aims to stimulate production and exports to make optimal use of the economic opportunities available in Egypt, particularly with the introduction of the “golden license” to simplify investment procedures. During his meeting with Chee Hong Tat, Singapore’s Second Minister for Finance, on the sidelines of the G20 meetings in Brazil, Kouchouk highlighted that Singapore is the fourth-largest investor in Egypt. Kouchouk explained that deepening cooperation between the private sectors of Egypt and Singapore enhances the economic capacities of both countries.

IQNA – The Al-Azhar Islamic Center in Egypt denounced the blasphemous scenes at the inauguration of the 2024 Paris Olympic Games. Al-Azhar underscored its permanent rejection of all attempts to disrespect any of Allah’s ‎prophets, the statement added. “Al-Azhar, and nearly two billion Muslims behind it, believe that Jesus (AS) is the ‎Messenger of Allah. The Quran reads, Jesus is Allah’s “Word through Mary and a spirit ‎from Him” (4: 171),” the statement continued. Allah also described Jesus in the Noble Quran as “honored in this world ‎and the Hereafter, and he will be one of those nearest (to Allah)” (3: 45).

CAIRO- 28 July 2024: The Israeli Prime Minister Benjamin Netanyahu’s Office said that negotiations will continue with mediators on the main issues included in the prisoner exchange agreement. The head of Mossad has returned from Rome to Israel after attending a quartet meeting with representatives from Egypt, Qatar and the US on the ceasefire agreement and the negotiations will resume in coming days, Axios quoted the office. The Rome meeting discussed an explanatory document submitted by Israel regarding the proposed deal agreement, Axios added. The repercussions have extended beyond Gaza, with Israel's adversaries, including Yemen's Houthis, launching frequent assaults on Israeli-affiliated targets, fueling heightened tensions across the region. Furthermore, Gaza has witnessed widespread destruction of critical infrastructure, including hospitals, schools, essential facilities, and areas designated by Israel as "safe zones," exacerbating the region's vulnerability to a looming crisis.

Egypt’s Prime Minister Mostafa Madbouly on Sunday stressed the need to accelerate the redevelopment of Warraq Island, urging officials to adhere to timelines for evacuating residents and compensating them for their losses. The prime minister emphasized the importance of providing timely compensation to residents affected by the redevelopment and preventing the return of informal settlements. Osama Shawky, head of the New Warraq Island Development Authority, reported that surveying teams had been deployed to expedite the process of voluntary sales for residents. Several government agencies presented updates on the handover of lands under their jurisdiction to the development authority, as requested by Madbouly. The prime minister emphasized the need to expedite this process to integrate the land into the overall development plan.

Cairo – July 28, 2024: Highlighting Egypt’s commitment to fostering environmentally friendly industrial practices and enhancing export-oriented investments, Minister of Investment and Foreign Trade, Hassan El Khatib, toured several factories at the Alexandria Free Zone on Sunday, with a focus on factories implementing sustainable processes. The Alexandria Free Zone hosts 417 projects, making it Egypt's largest and most export-orientated free zone. El Khatib also inspected the operations of Alex Apparels, one of the country’s exporters of ready-to-wear garments to the United States. The company has expanded its production facilities significantly in recent years, now covering a total area of 120,000 square meters. Alex Apparels adheres strictly to green building standards and energy-efficient practices, ensuring sustainability across its operations, with future plans including the establishment of new ready-to-wear factories in Alexandria, scheduled to commence operations in 2025.

Egypt has issued a stern warning about the dangers of opening a new war front in Lebanon, referencing the recent events in the occupied Golan Heights. In a statement on Sunday, the Egyptian Foreign Ministry expressed deep concern that these developments could potentially ignite a broader regional conflict. Cairo highlighted the risks following the recent events in Majdal Shams, a village in the occupied Syrian Golan Heights, cautioning that such actions could lead to a comprehensive regional war. The rising tensions have the potential to trigger an all-out war between Israel and Hezbollah. Meanwhile, Lebanon’s foreign minister, Abdallah Bou Habib, told Reuters that a significant attack by Israel would lead to a “regional war,” underscoring how close the region is to a wider conflict.

CAIRO – 28 July 2024: Israel announced on Sunday that it conducted airstrikes overnight against Hezbollah-affiliated targets in Lebanon. The attack came just hours after a rocket assault on the Israeli-occupied Golan Heights has killed 12 people and left 20 others wounded. Israel has attributed the series of attacks on Saturday, which included a rocket strike on a soccer field in the Druze town of Majdal Shams, in the Golan Heights, to Hezbollah. “According to reliable intelligence information in the possession of the IDF, Hezbollah is behind the attack,” the army said in a social media post. The IDF further revealed that the rocket strike on Majdal Shams was part of a series of three separate barrages launched by Hezbollah, comprising a total of 40 projectiles aimed at northern Israel.

CAIRO – 28 July 2024: Egypt strongly warned of the perils of opening a new war front in Lebanon following the recent attack on the Majdal Shams town Israel-occupied Golan Heights in Syria. In a statement on Sunday, the Ministry of Foreign Affairs warned that expanding the war to the Lebanese territory could escalate into an all-out regional war. Furthermore, Cairo reiterated its warning of the dangers of the continuation of the Israeli war against the Gaza Strip. Egypt called for an urgent and comprehensive ceasefire to end the humanitarian suffering in Gaza as soon as possible. “According to reliable intelligence information in the possession of the IDF, Hezbollah is behind the attack,” the army said in a social media post.

A recent study suggests that the ancient Egyptians may have employed a unique hydraulic lifting system to build the Pyramid of Djoser, the oldest among Egypt’s renowned pyramids. Pharaoh Djoser, a ruler of the Third Dynasty during the Old Kingdom of Egypt, commissioned the step pyramid around 2680 BCE. However, the study proposes that the enclosure wall of Gisr el-Mudir, near Djoser’s pyramid, acted as a “catchment dam,” capturing water and sediments. Researchers, including engineers and water scientists, analyzed features around the Pyramid of Djoser using satellite radar images and historical reports. The study focused on Djoser’s pyramid rather than the more famous Giza pyramids, aiming to trace ancient Egyptian construction techniques.

ICC prosecutor Karim Khan announced in May he was seeking arrest warrants for Netanyahu, Israeli Defense Minister Yoav Gallant, and three Hamas leaders – including Gaza chief Yahya Sinwar – over charges of war crimes and crimes against humanity. The court has no means of enforcement, however ICC members have an obligation to cooperate fully with its decisions. If the warrants are granted, Netanyahu and others could risk arrest when traveling to the 124 countries that are ICC members – including Germany and the United Kingdom. The international court still must assess submissions from other powers before making a decision on whether to grant the request for arrest warrants. The UK’s governing Labour party and its leader, former human rights lawyer Keir Starmer, have faced pressure from supporters to take a tougher stance on the Gaza war.

The Israel Defense Forces (IDF) hit a series of Hezbollah targets including weapons caches and “terrorist infrastructure,” the statement said. In addition to the 12 deaths, at least 29 people were injured in the attack in Majdal Shams, a village that is home to a large Druze community. On Sunday, Israel’s Defense Minister Yoav Gallant visited Majdal Shams and told local leaders the country and army were mourning with them. Israeli security forces and local residents gather at a site of the rocket attack in the Golan Heights area on July 27, 2024. People are seen at the site of a rocket attack in Majdal Shams village on July 27, 2024.

Egypt’s Minister of Local Development, Manal Awad, has ordered the swift completion and operation of projects under the presidential Decent Life initiative. Of the 292 local administration projects, including 117 fire stations, 100 markets, and 75 public transportation stops, 59 are still under construction. To date, 27 public transportation stops, 26 fire stations, and 19 markets have opened to the public, with coordination underway to operationalize the rest. The ministry is working with governorates to address remaining issues and open the remaining 90 complexes soon. The Decent Life initiative, which includes over 27,000 projects, is nearing completion, with most projects finished and the remainder in final stages, the statement added.

Egypt’s newly merged Ministry of Planning, Economic Development, and International Cooperation and the World Bank have vowed to deepen their partnership as the North African country presses ahead with economic reforms. The World Bank has already approved a $700m tranche for the program. The International Finance Corporation (IFC), the World Bank’s private sector arm, will also play a key role in the partnership. The meeting comes as the World Bank prepares to provide $6bn in financing to Egypt over the next three years. The funds will be allocated to support economic reforms and private sector development.

Egypt’s Minister of Finance, Ahmed Kouchouk, has emphasised the country’s adept handling of complex geopolitical impacts while implementing a comprehensive program to enhance economic performance. He expressed optimism regarding the International Monetary Fund (IMF) Board’s approval of Egypt’s economic reform program during the third review scheduled for July 29. Additionally, efforts are underway to reduce inflation rates, ensuring price stability, improving living standards, and supporting business competitiveness. Simultaneously, the government is streamlining tax and customs procedures to rebuild trust between the business community and tax administration, ultimately improving services for taxpayers. The Minister of Finance reaffirmed the government’s commitment to driving structural reforms and encouraging private investments in renewable energy, technology, water desalination, and infrastructure sectors.

CAIRO – 27 July 2024: Rome is set to host a crucial gathering on Sunday, bringing together senior officials from Egypt, Qatar, and Israel to confer with CIA Director William Burns. Meanwhile, Tel Aviv insists any deal must allow Israeli forces to resume military operations post-truce until Hamas is neutralized. The US offer proposes a phased approach to end the Gaza war and secure the release of all Israeli captives held in the enclave. These talks also occur alongside a visit by Israeli Prime Minister Benjamin Netanyahu to Washington. In a meeting with Biden, Netanyahu was also urged to reach a resolution with Hamas based on the US-supported agreement.