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CAIRO - 19 January 2023: Egypt is preparing to open the largest spinning and weaving factory in the world in a few days, with investments of more than LE 23 billion, Akhbar Al-Youm reported on Thursday. In July 2020, the Holding Company for Cotton, Spinning, Weaving and Garments signed a contract to establish the world's largest spinning factory at Misr Spinning and Weaving Company in El-Mahalla El-Kubra. According to the statement, the factory is built on an area of about 62,500 square meters, and accommodates more than 182,000 spinners, with an average production capacity of 30 tons / day. The construction work of the factory took about 14 months, at an estimated cost of about LE 780 million. The development plan is based on increasing specialization and reducing the frequency of the same activities in more than one company, by merging 23 spinning, weaving, dyeing and processing companies into nine companies, and merging nine companies for cotton ginning and trade into one company dedicated to this activity.

CAIRO - 19 January 2023: Egypt’s NWFE program aims to mobilize investments worth $14.7 billion, according to Minister of International Cooperation, Rania Al-Mashat. This came during Al-Mashat participation in the Agility Tanden Talk on the current state of the global economy and how to move forward in stimulating investments to build sustainable economies, alongside Stephen Gerard Pagliuca, co-chairman of Bain Capital, an international private sector firm. This is done in order to stimulate green transformation and implement NDCs and to achieve economic growth. Meanwhile, NWFE is a mechanism that can be replicated and applied in all developing and emerging economies to stimulate their ability to implement climate ambitions. The WEF 2023 Annual Meetings in Davos, Switzerland is being held under the theme "Cooperation in a Fragmented World", with the participation of several heads of state, heads of government, ministers, and major private sector companies.

CAIRO - 18 January 2023: Egypt’s Ministry of Tourism aims to attract 30 million tourists by 2028, according to Minister Ahmed Issa. According to Issa’s previous statements , since assuming his duties, he has been working on a number of tasks and setting priorities, perhaps the most important of which is reaching the 30 million tourists who visit Egypt every year. He added that the assignments of Prime Minister, Mostafa Madbouli, were to reach $30 billion in tourism within the 2030 plan, which the ministry is currently working on. Tourism Minister Ahmed Issa said in a meeting with the American Chamber of Commerce in Cairo, that About 13 million tourists visited Egypt in 2019. Recently, the International Monetary Fund (IMF) expected an increase in tourism sector revenues to record $11.3 billion in 2022/2023, $14.2 billion in 2023/2024, $18.9 billion in 2024/2025, $22.8 billion in 2025/2026, and $26.

CAIRO - 17 January 2022: Egypt’s cash reserves cover 5.4 months of the foreign imports, which exceeds the measures of reserve adequacy according to international standards, the Central Bank of Egypt (CBE) revealed. The CBE stated, in a statement issued today, Monday, that Egypt's cash reserves continued to rise for the fourth month in a row, to achieve an increase of more than $860 million during that period, reaching $34 billion at the end of December, compared to $33.53 billion at the end of November. The reserve recorded at the end of December its highest level since May 2022, despite the payment of payments related to the country's external indebtedness, according to the CBE. The Central Bank referred, in a statement, to the large increase in banks’ foreign exchange earnings, whether from the local market, or the proceeds of remittances from Egyptians abroad, as well as from the tourism sector. Moreover, Foreign investors’ entry into the Egyptian market has also been monitored since last Wednesday, with amounts exceeding $925 million.

Egypt's President Abdel Fattah Al-Sisi met with Presidential Advisor for Financial Affairs, Mohamed Amin, to review the activities of the Tahya Misr Fund (Long Live Egypt Fund) and its contribution to supporting the development process and social protection programmes. The total contributions that the fund has injected into various sectors and fields nationwide since its establishment has exceeded EGP 22bn pounds. The funds were distributed across several fields, with urban development and alternative housing receiving about EGP 7bn and the field of health care with about EGP 11.5bn. These were allocated to medical procedures associated with the coronavirus pandemic, health initiatives and medical devices in hospitals. The President has continuously directed the Tahya Misr Fund to enhance its activities and programmes, in partnership with government agencies, civil society institutions and the private sector.

Joint military aviation drills involving Belarusian and Russian forces are underway, the Belarusian defense ministry said in a press release Monday. “Today, a joint tactical flight exercise of the aviation units of the armed forces of the Republic of Belarus and the Russian Federation, which are part of the aviation component of the regional grouping of troops, has started,” reads the statement. “To ensure the conduct of the exercise, all airfields and ranges of the Air Force and Air Defense Forces of the Armed Forces of the Republic of Belarus are involved,” it added. Earlier this month, the Belarusian Ministry of Defense announced that Minsk and Moscow were planning to hold joint aviation drills from January 16 to February 1. In December, Russian President Vladimir Putin announced that the two countries would continue joint drills and other combat training measures, which would involve the joint group of forces of the so-called “Union State,” according to Russian state news agency TASS.

CAIRO – 16 January 2023: The Egyptian authorities are finalizing legal measures for the release of a new group of 31 pretrial detainees, Presidential Pardon Committee member Tarek El-Khouly said in a Facebook post on Monday. “This comes within the framework of the Presidential Pardon Committee’s efforts in coordination with the Public Prosecution and the relevant state authorities,” Khouly stated. The Presidential Pardon Committee, formed in 2016 and reactivated by Sisi in April, aims to release young prisoners of conscience and reintegrate them into society. The committee receives pardon requests via many avenues, including through the National Council for Human Rights (NCHR) and the human rights committees of the House of Representatives and Senate. In addition, the committee receives pardon requests through the National Youth Conference website.

Today marks the birthday of the kindest mother in Egyptian cinema, theater and TV drama Karima Mokhtar. On this occasion, Google Doodle celebrates the birthday of the veteran Egyptian actress. A protagonist in many films and TV series through the past decades, Mokhtar often played the role of the mother due to her motherly features which became the hallmark features of the traditional Egyptian mother. Some of her TV series included “Yetrba f Ezo” (May He Be Raised in His Blessings) and the drama “Zohra w Azwgha El Khamsa” (Zohra and Her Five Husbands). Mokhtar is the mother of the Egyptian TV presenter Motaz el Demerdash.

Many members of the delegation expressed support and high recognition for Xinjiang’s efforts and achievements in counter-terrorism and de-radicalization. China’s experience in fighting terrorism bears great significance for the efforts of various countries to effectively combat terrorism, he noted. At the Xinjiang Uygur Autonomous Region Museumin Urumqi, members of the delegation stayed for a long time in front of exhibition boards showing information about the ancient Silk Road. The delegation also visited Xinjiang Islamic Institute in Urumqi, where members of the delegation talked about the principles of Islam with students and teachers of the school. A delegation of world-renowned Islamicfigures and scholars take a photo with local residents at the Xinjiang International Grand Bazaar, one of the most famous landmarks in Urumqi, capital of northwest China’sXinjiangUygur autonomous region.

CAIRO – 16 January 2023: Egypt expressed on its heartfelt condolences with the Nepalese government over the victims of the plane crash. In a statement, Monday the Foreign Ministry reiterated Egypt's support of the people and government of Nepal over this tragic incident. At least 68 people were confirmed dead and hope faded for any survivors after a plane with 72 onboard crashed in Nepal, The Guardian reported on Sunday. The army said they had managed to retrieve 68 bodies from the debris of the crash but rescue efforts had been hampered by the treacherous terrain. It was Nepal’s worst aviation disaster since 1992, when 167 people were killed when a Pakistan International Airlines flight crashed on approach to Kathmandu.

CAIRO -16 January 2023: The issuance of Talaat Harb certificates with an annual return of 25 percent will be suspended at the end of January after the desired goal is achieved, Chairman of Banque Misr, Mohamed El-Etreby, said. On January 4, Banque Misr and the National Bank of Egypt (NBE) announced the launch of a one-year saving certificate with an annual interest of about 25 percent, which will be spent at the end of the period, or an interest of 22.5 percent, which will be spent monthly. El-Etreby affirmed that the NBE and Banque Misr’s resort to offering this certificate aims to address inflation and attract foreign exchange, within the framework of the role played by the two banks as the two largest government banks in the market. Officials at both banks estimated the proceeds of that certificate at about LE 274 billion since it was issued until the beginning of this week.

The fight for the embattled eastern town of Soledar is ongoing, Ukrainian President Volodymyr Zelensky said in his nightly address Sunday. “The battle for Soledar, for Bakhmut, for the whole Donetsk region, for the Luhansk region continues without any respite, without any stop,” Zelensky said, referring to eastern territories that have seen some of the conflict’s fiercest fighting. Russia claims its forces have taken Soledar after weeks of brutal clashes, which Kyiv has denied. The leader of the Wagner mercenary group has taken credit for the bulk of the fighting on Moscow’s side and also claimed victory there. Ukrainian authorities reported “heavy battles” were ongoing in the town Saturday.

CAIRO- 15 January 2023: To achieve the principle of strengthening the workforce, the Egyptian government has signed a total of 17 agreements of collective bargaining [the right to negotiate work relations effectively in accordance with the definition of the International Labor Organization] since the beginning of 2022, according to the Ministry of Manpower. The General Administration for Settlement of Collective Labor Disputes at the Ministry have succeeded, since the beginning of 2022, to reach 17 collective labor agreements that achieve better terms and conditions for workers in accordance with the provisions of Labor Law No. A total of 25,685 workers have benefited from these agreements in various sectors like tourism and hotels, food and chemical industries, construction and wood industries, maritime transport, banking and insurance. The Manpower Committee in the House of Representatives, headed by Representative Adel Abdel Fadil Ayyad, approved, during its meeting last Monday evening, the draft labor law submitted by the government, so that this would be the first meeting to discuss the draft law submitted by the government to issue the labor law, after the committee held hearings. The new draft law addresses the shortcomings contained in the current Labor Law promulgated by Law No.

Minister of International Cooperation Rania al-Mashat said Egypt is looking forward to finalize agreements on funds allocated for “NWFE” Program for linking water, food and energy sectors that are worth of dlrs 14.7 bn before the 28th session of the Conference of the Parties (COP28) to the UNFCCC that will convene in Dubai from Nov. 30 to Dec. 12. According to Mashat, financing sources would include the State General Budget and the private sector, in addition to easy financing through development companies. The minister noted that “NWFE” Program funds increased during the COP27, that was held in the Red Sea resort city of Sharm el-Sheikh in Nov. 2022 to reach dlrs 10.3 bn. Egypt launched the “NWFE ” Program to attract funds and investments for a list of green projects in the water, food and energy sectors. “NWFE ” Program total investments include dlrs 10 bn for the energy sector, drls 1.35 bn for the water sector and dlrs 3.35 dlrs for the agriculture and food security sectors, Mashat said.