A joint Egyptian-French archaeological mission, composed of the Supreme Council of Antiquities and Paul Valéry University Montpellier, has uncovered a group of paintings, inscriptions, and miniature images of ancient kings, including Amenhotep III, Thutmose IV, Psamtik II, and Apries, during the implementation of the photographic archaeological survey project for the first time under the waters of the Nile in Aswan. The project aimed to study the rock inscriptions located between the Aswan Reservoir and the High Dam, which were discovered in the 1960s during the campaign to save the Nubian antiquities to build the High Dam and had not been studied before. Islam Salim, Director General of the Department of Underwater Antiquities at the Supreme Council of Antiquities, said that the mission is currently working on producing 3D models of the discovered inscriptions and studying them; in preparation for their scientific publication to protect and preserve them. He added that the archaeological survey work indicates the possibility of discovering new inscriptions and historical information about the history of ancient Egypt in the 18th dynasty, especially the reign of King Thutmose IV and King Amenhotep III, as well as kings from the late period in the reign of King Psamtik II and King Apries. Hisham Al-Lithy, Head of the Sector for Conservation and Registration of Egyptian Antiquities at the Supreme Council of Antiquities, stated that the mission used all modern diving, archaeological survey, underwater photography and video, and photogrammetry techniques, as well as archaeological drawing, in order to identify and document the remaining rock inscriptions on the surface of the rocks, whether underwater or partially submerged in the Nile waters.

A Nile Air plane caught on fire during its takeoff from the King Fahd International Airport in Dammam, Saudi Arabia early on Thursday morning. There were 177 people on board the plane, with 169 passengers and eight crew members. No injuries were reported from the incident. Specialized teams from the National Center for Transportation Safety began investigating the incident. The fire caused the cancellation of the takeoff and the evacuation of the plane’s passengers via emergency slides, while firefighting teams successfully extinguished the fire.

Prime Minister Mostafa Madbouly said on Wednesday the inflation rate decreased for the fourth month in a row and and this is very important indicator for the state. He said the drug shortage crisis will be resolved within three months. About external debt, Madbouly said Egyptians are concerned about the issue of external debt, but the numbers have decreased significantly according to data provided by the Central Bank. He promised the Egyptian citizen that the government would work in full swing to completely resolve the load-shedding plan before the end of this year. He said the volume of electricity consumption in the past period increased in unprecedented amounts, saying, “During the past few days, we exceeded the consumption of 37.5 gigabytes per day, an increase of 12 percent compared to last year.”.

CAIRO – 18 July 2024: According to sources interviewed by Asharq Bloomberg, Egypt is initiating an international tender in August for the importation of around 740,000 tons of petroleum products. The imported materials consist of 400,000 tons of diesel, 170,000 tons of gasoline, and 170,000 tons of butane. Egypt has observed a significant increase in the quantity of gasoline imports for August, approximately 90 percent higher than the usual amount during the first five months of the year. Additionally, the budget for the fiscal year 2024/2025 has allocated approximately EGP 154.5 billion to support petroleum products, marking a 29.4% increase compared to the previous year’s budget of EGP 119.2 billion. Each shipment has a capacity of roughly 145,000 tonnes, as confirmed by a government official interviewed by Al Arabiya Business.

Egypt’s Ministry of Foreign Affairs condemned an Israeli minister’s incursion into the courtyards of the Al-Aqsa Mosque, in a statement on Thursday. The Palestinian WAFA news agency quoted witnesses as saying that Israeli minister Itamar Ben-Gvir stormed into the Jerusalem hilltop compound of al Aqsa Mosque accompanied by Israeli police. Egypt also condemns the Israeli Knesset’s resolution rejecting the establishment of a Palestinian state, a move Egypt deems a clear defiance of international legitimacy and peace process frameworks. The Egyptian government called on Israel to respect the existing legal and historical status in Jerusalem, where the Al-Aqsa Mosque is regarded as a purely Islamic endowment. Additionally, Egypt urged international parties to fulfil their responsibilities in protecting Palestinian rights, respecting Al-Aqsa Mosque and other Islamic and Christian holy sites, and putting an end to repeated Israeli violations.

CAIRO - 18 July 2024: Prime Minister Mostafa Madbouly, Health Minister Khaled Abdel Ghaffar, and Sohag Governor Abdel Fattah Serag all apologized to doctor Samar Anwar on Wednesday and Thursday after a social media campaign and Medical Syndicate pressure. He also saw a man holding his child, claiming doctor Anwar refused to check him. The doctor said she had asked the father to bring a ticket to admit the child and give him the medications needed. He accused her of having “no feelings or conscience.”Soon after a video of the incident was released, Anwar wrote on Facebook “is it normal to be treated that way and be insulted? Governor Serag received Anwar in his office, and the minister of health will received her on Monday.

CAIRO – 17 July 2024: Prime Minister Mostafa Madbouly stated in a press conference Wednesday that power-saving electricity cuts would end on Sunday, July 21, until mid-September, revealing that electricity use increased by 12 percent in 2024. The prime minister unveiled that additional 3-4 GW will be needed in 2025, and that was the reason the government would accelerate increasing the share of renewables in the energy mix. In a related context, he highlighted that the inflation rate had been falling for the fourth month in a row. "To put an end to the frequent increase in the prices of goods, the government is working on boosting supply by promoting investment opportunities," the Egyptian prime minister said. Madbouli similarly shed light on the fact that the government succeeded in reducing foreign debt from $168 billion to $160 billion.

Many investment banks anticipate that the CBE will maintain interest rates unchanged for the second consecutive time, following the previous decision made on 23 May. The CBE’s main interest rates serve as a crucial indicator for short-term pound interest rate direction. Several investment banks, including EFG Hermes, Beltone, Naeem, Zilla Capital, CI Capital, Al Ahly Pharos, Mubasher Financial Services, Thndr, and Arab African International Securities, expect the CBE to maintain interest rates unchanged for the second consecutive time. However, our interest rate model estimates that investors require a 36.1% interest rate on 12-month T-bills, aligning with the maximum yields requested by banks. A Reuters poll involving 18 analysts also predicts that the CBE will maintain interest rates, with one analyst forecasting a 100 basis points cut.

CAIRO – 17 July 2024: Ambassador to the Democratic Republic of Congo Hesham al-Moqawad - accompanied by a delegation from the Ministry of Irrigation and Water Resources - met Monday with Congolese Minister of Environment and Sustainable Development Eve Bazaiba. The meeting tackled the updates of the implementation of the integrated water resources management project (GIRE) by an Egyptian grant. On her side, the Congolese minister expressed interest in increasing the number of joint projects with Egypt. Egypt had built a center for rain and flood forecast in Congo. Five months later, hundreds others also lost their lives because of the same kind of natural disasters.

CAIRO – 16 July 2024: Secretary of the Palestinian Fatah movement, Zaid Taim, said that Egypt is making great efforts to reach a ceasefire in the Gaza Strip and resolve the Palestinian crisis. He added that It is a continuation of the genocidal war led and for which the Israeli occupation bears responsibility. The source further stressed that Israel's persistent pursuit of policies leading to further escalation carries grave consequences for the entire region. Additionally, Egypt has alerted relevant parties to the dangers of Israeli escalation in Gaza and the targeting of civilians, the source added. These warnings coincide with a deadly Israeli air attack on the Al-Mawasi refugee camp in Khan Younis, southern Gaza Strip, on Saturday.

CAIRO – 16 July 2024: Egypt on Tuesday expressed its condemnation of a shooting attack that took place in Al-Wadi Al-Kabir area in Oman's Muscat, leaving a number of people dead and injured. Posting on his X account, Spokesman for the Foreign Ministry Ahmed Abu Zeid said Egypt stands by the Sultanate of Oman at this critical time. The spokesman wished a speedy recovery for the wounded.

CAIRO – 16 July 2024: Egypt’s President Abdel Fattah al Sisi received a phone call from French President Emmanuel Macron. This is in addition to the role of the Egyptian-French partnership in supporting security and stability in the Middle East. During the call, the two presidents exchanged views on a number of regional and international issues, mainly developments in the Gaza Strip. President Sisi reviewed the ongoing Egyptian mediation efforts to reach an immediate ceasefire and the exchange of captives. French President Macron valued Egypt's tireless efforts since the outbreak of the crisis.

dopay, a fast-growing financial technology (fintech) company, has secured $13.5m in an extension to its Series A funding round. The company provides a digital payroll and payments platform for unbanked and underbanked workers in emerging markets. dopay’s innovative virtual banking platform allows employers to make digital cash payments to workers and beneficiaries. By addressing the core issue of efficient and timely payroll payments, dopay aims to transform the payroll landscape and contribute to Egypt’s broader economic development. Their success in Egypt will serve as a blueprint for expansion into other emerging markets, showcasing the transformative power of their digital payroll solutions.

July 15 (Reuters) - Former Bayern Munich and Liverpool winger Xherdan Shaqiri announced his retirement from international football on Monday, after a 14-year spell with the Swiss national team. Shaqiri has played 125 matches for Switzerland, scoring 32 goals. He is the only Swiss player to appear in seven major tournaments, from World Cup 2010 to Euro 2024. The 32-year-old made two appearances in Euro 2024 as Switzerland exited from the quarter-finals.

Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed Egypt’s exceptional potential in the mining sector, positioning it as an attractive investment destination. His remarks came during his participation in a panel discussion at the Egypt Mining Forum on Tuesday. Badawi highlighted the significant role of global mining companies operating in Egypt and their active contributions, particularly in providing advanced technologies, modern techniques, and expertise. Horgan confirmed the availability and feasibility of solar energy in Egypt to support mining projects. The Egypt Mining Forum, held under the patronage of President Abdel Fattah Al-Sisi, serves as a platform for industry leaders, government officials, and investors to discuss the latest trends, challenges, and opportunities in Egypt’s mining sector.