The exchange rate of the US dollar against the Egyptian pound stabilized on Friday after the last decline recorded on Thursday, as weekly trading closed on a downward trend. Here are the dollar exchange rates at some of the major Egyptian banks on Friday. These reforms included a move towards a more flexible exchange rate system, allowing the market to determine the value of the dollar to some extent. This could lead to more confidence in the Egyptian pound, causing its value to rise. Temporary Fluctuation: It’s also possible that the decline is a temporary fluctuation within the new, more flexible exchange rate system.

New York CNN — A stalemate in Washington could destroy a landmark tax deal that was painstakingly hammered out among 140 countries over the better part of a decade. Some analysts say that the United States’ inability to ratify the deal could lead to a tax war among the richest nations that would hit tech behemoths like Google, Apple, Meta and Amazon particularly hard. Canada recently implemented a local tax on the world’s largest tech companies, something the OECD treaty had sought to avoid. New Zealand has also said it will implement its own digital services tax on large multinational companies beginning in 2025. The FTC also said that documents showed that competing mattress suppliers would lose access to its most important retail channel.

Throughout the rich history of Egyptian cinema, male artists have consistently dominated the box office, drawing large audiences and achieving impressive revenues. However, female stars, despite their ability to generate significant income through their cinematic works, have often been overlooked. Despite these remarkable achievements, recent years have seen a lack of female artists competing with male stars for box office success. Perhaps critics and cinephiles can shed light on the current box office stars of our time. Emerging Female Artists ShineCritics like Walid Saif recognize the emergence of a group of young female artists who play significant roles.

They discussed ways for Malaysia to benefit from Al-Azhar's expertise in combating extremism. King Ibrahim requested Al-Azhar to increase the number of scholars sent to various Malaysian states and expand educational opportunities for Malaysian youth to join Al-Azhar University. He emphasized leveraging Al-Azhar's vast experience in combating extremism through a proposed conference in Malaysia, involving Al-Azhar scholars to articulate proper Islamic approaches to contemporary issues such as coexistence, tolerance, and combating hatred. Grand Imam Al-Tayeb congratulated King Ibrahim on his ascension to the throne of Malaysia, expressing hopes for continued prosperity and progress under his leadership. He noted the significance of his first visit to Malaysia since assuming the position of Grand Imam, acknowledging Malaysia as a model Muslim state capable of sustainable development and pride in Al-Azhar's historical ties with the country.

Lieutenant General Abdel Megeed Sakr, who was promoted from Major General of Staff on Wednesday, has been sworn in as the new Minister of Defence and Military Production. He succeeds Lieutenant General Mohamed Zaki. Born in 1962, Sakr holds a bachelor’s degree in military sciences from the Military College, a fellowship from the National Defense College, and a master’s degree in military sciences from the Military Academy for Postgraduate and Strategic Studies. He also served as the head of the Military Police Department and was appointed Governor of Suez in 2018. Sakr has been honored with several orders and medals, including the Military Duty Medal (first class) and the Long Service and Good Example Medal.

Egypt’s Minister of Health, Khaled Abdel Ghaffar, was sworn in before Egyptian President Abdel Fattah Al-Sisi as the Minister of Health in the new cabinet reshuffle. Following nearly 10 months as the acting minister, he succeeded Hala Zayed to become the Minister of Health and Population. Before his ministerial roles, Abdel Ghaffar held several academic positions at Ain Shams University. Abdel Ghaffar’s international experience includes being a visiting professor at the College of Dentistry, University of Georgia (US), and the College of Dentistry, University of Texas, Houston (US). He received the State Incentive Award in Medical Sciences and was recognized for distinguished research at Ain Shams University.

Foreign Minister Sameh Shoukry Tuesday emphasized Egypt’s keenness on the active involvement in efforts of mediation and settling disputes along with pushing forward efforts aimed at achieving stability and development. “Egypt – as a peace making nation – is eager to actively engage in efforts of mediation and resolving disputes alongside supporting efforts aimed at attaining stability and development through active participation in the peace-keeping forces and providing training for African cadres in various domains, in a way the contributes to supporting state’s national institutions, within the framework of Egypt’s pioneering status regarding the Post-conflict Reconstruction and Development (PCRD) file and its chairmanship of the African Union Development Agency (AUDA-NEPAD) Heads of State and Government Orientation Committee,” Shoukry said. The foreign minister was addressing the inaugural session of the fourth edition of Aswan Forum for Sustainable Peace and Development, which kicked off in Cairo earlier Tuesday. “This edition of the forum is taking place amid critical time when the world and African continent are facing massive challenges amid the geopolitical tensions, global economic challenges and an international community battered by unprecedented exacerbated wars and conflicts, whether in Gaza or Sudan, a matter that presses African nations to adopt a comprehensive vision for confronting challenges facing peace, security and development,” Shoukry said. He said that the event is an extension of Egyptian efforts aiming at advocating the African interests, noting that this year Egypt will celebrate the anniversary of hosting the first summit of the Organization of African Unity in 1964.

The Ministry of Investment and Foreign TradeCAIRO – 03 July 2024: In Mostafa Madbouly's latest government, the Ministry of Investment and Foreign Trade was reinstated. The ministry will now incorporate various entities involved in foreign trade and exports, such as the Commercial Representation Authority, Trade Agreements Sector, Exhibition Authority, Export Development Fund, Export Development Authority, and Export Control Authority. Foreign trade plays a crucial role in economic development by promoting exports across sectors and enhancing local production to better compete globally. This integration will streamline the development of sustainable economic and social plans until 2030, ensuring effective monitoring, evaluation, and implementation. These efforts are aimed at attracting international funding for projects that contribute to the realization of economic development plans and objectives.

CAIRO - 3 July 2024: The largest ever cabinet reshuffle in Egyptian history has taken place after 24 new ministers took oath Wednesday. A total of 30 ministers holding 31 ministries took the oath before President Abdel Fattah al-Sisi. Only eight of the old cabinet remained in the government, two of whom had their ministries changed. The average age of ministers decreased from 64 years old to 56. Ministers with military backgrounds decreased from 22 to 16.

Biden’s unsteady voice and bulging eyes were a stark contrast to Trump’s demeanour. American presidential experts emphasize the critical importance of the first 30 minutes of a debate. During the debate with Trump, it became evident that he possesses exceptional awareness and mental acuity, despite his occasional deliberate falsehoods. In contrast, Trump remained articulate, lucid, and composed, especially when addressing key topics like abortion, taxes, and illegal immigration, which are important to American voters. It proved challenging, from a human perspective, to witness the American president appearing before millions of viewers worldwide on television, grappling with the effects of ageing.

The Central Bank of Egypt (CBE) on Tuesday reported a decrease in Egypt’s external debt, which now stands at $160.607bn as of March 2024. According to the CBE’s report released on Tuesday, the long-term external debt decreased to $135.257bn in March 2024, compared to $138.551bn in 2023. The government’s outstanding external debt followed a similar trend, declining to $82.206bn in March 2024, from $84.849bn in December 2023. The CBE report also highlights other sectors with outstanding external debt, totaling approximately $12.337bn by the end of March 2024. The breakdown includes $12.337bn in long-term debt and $4.824bn in short-term debt.

CAIRO - 2 July 2024: Government sources told et that pilot Sameh Al-Hafni was nominated to be the new Minister of Civil Aviation, succeeding Lieutenant General Muhammad Abbas Helmy, as part of the government reshuffle. In the below lines, et highlights information about the newly nominated Minister of Aviation, Pilot Sameh El-Hafny:He is a man with great competence and experience in the civil aviation sector, as he held several important positions in Egyptian civil aviation during his career, inculding:– He was the president of the Holding Company of the Egyptian Academy of Aviation Sciences. – Pilot Sameh El-Hafny worked as a pilot for the Airbus 330/340. – He was also the chairman of the Egyptian Civil Aviation Authority in 2018. - The International Civil Aviation Organization (ICAO) chose him in 2021 to occupy the position of Egypt’s permanent representative and a member of the international organization’s Board of Directors.

Mohamed Gibran, the acting president of the Workers' Union, is being considered for the position of Minister of Labor, succeeding Hassan Shehata,CAIRO - 2 July 2024: An informed source revealed to Extra News that Mohamed Gibran, the acting president of the Workers' Union, is being considered for the position of Minister of Labor, succeeding Hassan Shehata, as part of the cabinet reshuffle. Key Facts About Mohamed GibranMohamed Abdel Aziz Gibran Abdel Halim, known as Mohamed Gibran, holds a Bachelor's degree in Commerce. Gibran's Union RolesElected as Secretary-General of the General Petroleum Workers' Union in 2013 for a four-year term. Headed the labor delegation to the 2023 International Labor Conference in Geneva, Switzerland. Headed the labor delegation to the 2024 International Labor Conference in Geneva, Switzerland.

Egypt’s Minister of Health and Population, Khaled Abdel Ghaffar, met with Ahmed Al-Shazly, the Regional Director of Pfizer for Egypt, Sudan, the Levant, and Iraq. The discussion focused on strengthening collaboration across various health fields to improve public health and well-being. Hossam Abdel Ghaffar, the official spokesperson for the Ministry of Health and Population, emphasized that the ongoing partnership between the ministry and Pfizer aims to enhance Egypt’s health sector by providing high-quality health services and raising awareness among citizens. He supported the continuous development witnessed by the health sector in Egypt, praising the distinguished and fruitful cooperation with the company during the previous years. The spokesperson indicated that the meeting discussed also enhancing cooperation between the Ministry and the company to address and treat haemophilia by providing the latest medicines, as well as building and refining the skills of specialized medical personnel, pointing to working through a strategic partnership to develop the health system in Egypt.

The Central Bank of Egypt (CBE) revealed that non-governmental foreign currency deposits (FCDs) in banks operating in the Egyptian market increased by $1.2bn during the first five months of this year. The foreign currency deposit balances rose from $50.4bn in December 2023 to $51.6bn in May 2024. In May alone, non-governmental foreign currency deposits in banks increased by approximately $780m. The growth in foreign savings flowing into banks had a positive impact on the net foreign assets owned by banks and the central bank. Net foreign assets at commercial banks alone rose to about $32.2bn in May, compared to $24.95 bn in April—an increase of approximately 29%.