CAIRO - 28 December 2022: Egypt seeks to localize green industries, based on the outputs and gains of the climate summit that Egypt hosted last month, as it came out with recommendations for implementing an integrated program to convert waste into electric energy, including the waste-to-electricity plant project in Abu Rawash. Dr. Yasmine Fouad, Egyptian Minister of Environment confirmed that the project for converting waste into electric energy in Abu Rawash is carried out in coordination between 4 ministries, including Environment, Local Development, Electricity and Military Production, and is being established in Abu Rawash, Giza Governorate, on an area of approximately 12 acres. The Minister of the Environment stated that the waste-to-electricity plant project in Abu Rawash aims to treat 1,200 tons per day of municipal solid waste to produce 30 megawatt-hours, and to achieve an economic return from the waste recycling process. Al-Arabi indicated that the waste-to-electricity plant project in Abu Rawash helps reduce the amount of waste that is buried in sanitary landfills, in addition to providing land areas that are allocated for the establishment of sanitary landfills, and avoid accumulations within the governorates, which cause environmental damage and waste. Abu Sunna indicated that the Giza Governorate is currently working on completing the necessary licenses for the land on which the project will be built.

CAIRO - 28 December 2022: Egypt's natural and liquefied gas exports have seen an increase reached, $7.8 billion, which is equivalent to 160 billion pounds, during the period (January-October 2022), ranking Egypt the first in the Arab world. This was stated in a government memorandum submitted to the Energy and Environment Committee in the House of Representatives, and also referred to the re-starting of the Damietta liquefaction gas plant and the resumption of exporting liquefied natural gas from it after a hiatus that lasted for 8 years. The memo further noted that Egypt was ranked as the country that achieved the most growth in the volume of natural gas exports during the third quarter of 2021. In his memorandum, the Minister of Petroleum, Eng. Tariq Al-Mulla, stated that natural and liquefied gas was exported during the first ten months of 2022, at a rate of about 200% of the value of what was exported during 2021 due to the increase in international prices of liquefied gas.

A number of procedures and reform policies were adopted in the energy sector, as part of a comprehensive strategy that includes securing supplies and good governance. The ministry has also taken concrete steps to totally reverse power cuts and attain electricity surplus. During 2022, the electricity sector also adopted several executive steps to attain sustainability of renewable energy and energy sector. The electricity sector also adopted a strategy aiming to diversify energy sources, expand the use of renewable energy and rationalize the use of traditional energy sources within the National Renewable Energy Strategy. Such strategy primarily aims to increase renewable energy by 40 percent in 2035.

Egypt’s Minister of Health and Population Khaled Abdel Ghaffar received a certificate from the Guinness Book of Records for recording the largest gathering to educate 523 children living with diabetes type 1. It also includes programmes for continuous measurements and follow-up, through closed-circuit television and posters in clinics, in addition to health education programs for school students. The Egyptian Health Ministry spokesperson pointed out that 50,000 children have been registered within the health care program for children with diabetes for EGP 615m. Egypt has established 30 model centres for diabetic children to provide awareness, diagnosis and treatment services. These centres include all specialities related to diabetes such as “ophthalmology, orthopaedics, surgery, kidneys” in addition to nutritionists to reduce complications, in addition to providing educational services, health, and psychological support.

CAIRO - 27 December 2022: Egypt's Law for the Protection and Development of Lakes and Fisheries aims to promote fish wealth and maximize its utilization, through a new package of facilitated procedures and controls, while at the same time aim to preserve this vital resource. The legislation included controls and requirements for fishing places, driving the boat, and it included the establishment of an agency for the protection and development of lakes and fish wealth that undertakes the development of general policy, exploitation and development of lakes to protect fish wealth. The law prohibits foreign fishing boats from fishing in the Egyptian regional or economic waters, provided that they face a penalty in accordance with Article stipulated in Law No. In all cases, the boats, fish, birds, and fishing gear used shall be seized, and the seized items or their price shall be confiscated. The law only allows only, driving a fishing boat, for those who hold a certificate proving the boat's suitability for fishing in marine waters.

South Korean Ambassador Hong Jin-wook met Monday with Minister of International Cooperation Rania Al-Mashat to exchange opinions regarding the bilateral development cooperation efforts this year and ways to strengthen ties in the future. He expressed his satisfaction on successful bilateral development cooperation because it not only helps to boost the economic development of Egypt but also contributes to improving the quality of Egyptian people’s lives. He also expressed his hope to expand bilateral cooperation to future-oriented fields such as renewable energy, space and aviation in the future. Minister Al-Mashat expressed her gratitude for the Korean government’s tireless efforts in strengthening bilateral cooperation including designating Egypt as an ODA priority partner country. Both sides agreed to explore more development cooperation projects in various fields.

Gold prices in Egypt witnessed unprecedented spikes several times after the Russian-Ukrainian crisis, reaching record-high levels. Besides, the CBE began to realise the issue of speculations in gold export. Besides, encouraging the export of gold jewellery, for example, through international exhibitions, as well as relieving pressure on gold ore and directing the demand for gold jewellery by relinquishing part of the processing cost. Furthermore, he suggested that authorities should continue monitoring gold ore export. He pointed out that the lack of dollar liquidity, and its circulation near its lowest levels in six months, was a major catalyst for the hikes in gold prices.

Ukrainian President Volodymyr Zelensky said Monday he was relying on India’s help to implement a “peace formula” during a phone call with Prime Minister Narendra Modi. The call comes as New Delhi seeks to boost trade ties with Moscow after becoming one of the largest purchasers of Russian oil — defying Western sanctions and providing a vital financial lifeline to Russian President Vladimir Putin as the Kremlin wages an unprovoked war against its neighbor. “I announced the peace formula and now I count on India’s participation in its implementation,” Zelensky wrote on Twitter. Zelensky presented a 10-point peace formula to world leaders at the Group of 20 summit in Bali, Indonesia, in November. India assumed the G20 presidency this month, and will hold it until next year.

Lukas Lamb-Wotton is a PhD candidate (to finish Summer 2023) working within the Florida Coastal Everglades Long-Term Ecological Research network. Wotton primarily focused on sea level rise and its impact on coastal marshes and the plants there. “ So through prior experiments that I performed before I was a graduate student, we found that sawgrass is only moderately salt.”Wotton explained that the Everglades is extremely broad, low lying wetland landscape. “ In the past hundred years since Miami has been developed, the Everglades has been drained and has seen a significant reduction in the amount of fresh water across the entire wetland landscape. So this puts a lot of pressure on the plants and the communities there to continue to thrive and be productive and healthy” Wotton explained.

The move aims to avoid increasing the public debt service, the ministry added. The Ministry of Finance offered EGP 8bn worth of 91-day T-bills, for which it received about EGP 30.414bn worth of purchasing offers, with a return of about 22%. The ministry also tendered another T-bill issuance worth EGP 20bn for 273 days, for which it received about EGP 17.795bn worth of offers, with a return of about 23.5%. Figures obtained by Daily News Egypt earlier revealed the Ministry of Finance’s intention to issue 27 tenders of T-bills and bonds worth EGP 270bn during December. It comprises 16 T-bill tenders worth EGP 217bn and 11 bond tenders worth EGP 53bn.

Egypt released 172,000 tonnes of fodder raw materials from the ports, including corn and soybeans, at a value of $81m, last Wednesday and Thursday. Minister of Agriculture and Land Reclamation El-Sayed El-Kosayer revealed that this was done in coordination with the Central Bank of Egypt (CBE) and through the banking sector. Egyptian Prime Minister Moustafa Madbouly announced that goods worth about $300m were released during these two days. El-Kosayer explained that the release included 146,000 tonnes of corn at a value of $58.4m, 26,000 tonnes of soybeans at a value of $19.2m, and feed additives worth $3.4m. According to the Egyptian minister, the total released fodder raw materials, during the period from October 16 to December 22, 2022, amounted to about 1.427 million tonnes, at a value of $713m, including 971,000 tonnes of corn, and 456,000 tonnes of soybeans and feed additives.

Egypt released 172,000 tonnes of fodder raw materials from the ports, including corn and soybeans, at a value of $81m, last Wednesday and Thursday. Minister of Agriculture and Land Reclamation El-Sayed El-Kosayer revealed that this was done in coordination with the Central Bank of Egypt (CBE) and through the banking sector. Egyptian Prime Minister Moustafa Madbouly announced that goods worth about $300m were released during these two days. El-Kosayer explained that the release included 146,000 tonnes of corn at a value of $58.4m, 26,000 tonnes of soybeans at a value of $19.2m, and feed additives worth $3.4m. According to the Egyptian minister, the total released fodder raw materials, during the period from October 16 to December 22, 2022, amounted to about 1.427 million tonnes, at a value of $713m, including 971,000 tonnes of corn, and 456,000 tonnes of soybeans and feed additives.

Egyptian tycoon businessman Samih Sawiris will play the piano at two concerts will be performed by the Swiss Symphony Orchestra in el-Gouna and the Cairo Opera House, in Egypt. The first Swiss Orchestra concert will be held at el-Gouna Campus theater, on Friday, January 13. Another concert for the Swiss Orchestra will be held in the main hall of the Cairo Opera House on Sunday, January 15. Commenting on the two events, Sawiris said: “Six years ago I decided to learn to play the piano and participate in the orchestra Concerto for piano, and now the time has come.”He added, “I am pleased to donate all the proceeds of the two concerts to establish a one-class school in villages that do not have schools.”

The deal will help to speed up FTG’s open finance and open banking platform’s market penetration in Egypt, develop and launch new digital solutions, and push financial inclusion forward. Al-Zamil added that all of Underlie’s current employees have been retained and warmly welcomed to Fintech Galaxy Egypt’s operationsUnderlie leverages open API technology and machine learning to empower banks and fintech companies to provide their customers with better services and benefits. “This acquisition is a testament to the positive impact Underlie has achieved so far,” said Akram Abdou — Founder of Underlie. Mirna Sleiman — CEO and Founder of Fintech Galaxy — said: “The acquisition of Underlie anchors our open banking/open finance efforts and enables us to succeed in providing enhanced, seamless, and enjoyable financial experiences, expanding, and consolidating our position across MENA. Cross-border collaboration is key to moving the needle on financial inclusion in Egypt and beyond.”© 2022 Daily News Egypt.

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