CAIRO – 26 June 2024: Deputy Minister of Planning and Economic Development, Ahmed Kamali, took charge of leading the meeting for the Technical Committee responsible for the preparation and oversight of Egypt's Integrated National Financing Strategy. In this role, Kamali underscored the significance of the strategy, which outlines Egypt's approach to financing sustainable development goals. During the meeting, Kamali emphasized the crucial role of financing in achieving sustainability, whether through the Sustainable Development Goals or Egypt Vision 2030. Kamali further discussed the necessity of moving beyond simple resource transfers and embracing sustainable financing, which necessitates reorganizing financial flows to accomplish shared objectives. It is anticipated that by the end of this year, the share of private sector investments will reach approximately 48 to 49 percent.

Egypt maintained its top position in the African tourism sector for the third consecutive year, while South Africa regained its leading position from Nigeria in Africa’s trade rankings, driven by a substantial increase in foreign direct investment (FDI), according to the latest research from Bloom Consulting. Senegal’s significant improvement was another key finding, with the nation jumping 11 spots to seventh place in the continental rankings. In the tourism sector, Morocco, Ethiopia, and Uganda were highlighted as countries experiencing the most significant positive changes, while South Africa, Ghana, and Nigeria saw declines compared to other African nations. “South Africa reclaims its leading position from Nigeria in Africa’s trade rankings, primarily driven by a substantial increase in FDI,” the Bloom Consulting report stated. The research underscores the dynamic nature of Africa’s economic landscape, with countries experiencing shifts in both trade and tourism attractiveness.

CAIRO – 26 June 2024: Minister of Transport Kamel al-Wazir stated in a press statement Wednesday that a new batch of Transmashholding railcars - consisting of 16 units - had arrived in the Port of Alexandria upping the total delivered to 946 out of 1,300. The shipment includes 16 air-conditioned third-class railcars in addition to four maintenance machines. A contract worth €1 billion was signed with Transmashholding to supply 1,300 railcars. Those include 500 dynamic-ventilation third-class units, 500 air-conditioned third-class units, 180 air-conditioned second-class units, 90 air-conditioned first-class units, and 30 air-conditioned cabooses. Also, 61 out of 400 designated train engines have been rehabilitated.

The lead would have meant France topped the group regardless of the result of a see-saw game between Netherlands and Austria. With Austria then grabbing a later winner against the Dutch, the draw means France finish second in Group D behind Austria and will face whoever comes second in Group E, where Romania, Belgium, Slovakia and Ukraine are all on three points. It is the first time France have failed to finish top of their group at a major tournament in 12 years under manager Didier Deschamps. It was another uninspired performance by France, who lacked imagination from top to bottom. They dominated possession but were denied by Poland's excellent goalkeeper Lukasz Skorupski who made a string of decent saves to deny Mbappe, Theo Hernandez, Ousmane Dembele and Bradley Barcola´s close-range efforts.

CAIRO – 26 June 2024: Chairwoman of the Social Housing and Real Estate Financing Fund Mai Abdel Hamid stated Wednesday that one million residential units were being built for low-income citizens in addition to 28,000 units allocated to middle-income citizens. Further, there are 55,500 units that are being built within the green housing initiative at the cities of New Obour, 10th of Ramadan, Capital Gardens, New Aswan, New October, Badr and 15th of May. The total number of applicants on units offered by the fund is 1.6 million, while the total size of funding provided amounted to LE70 billion. With regard to the demographics of funding recipients, 76 percent males; 24 percent females; 48 percent work for the private sector; 29 percent work for the public sector; 22 percent are self-employed; one percent are pensioners; 56 percent are married with kids; 16 percent are married; 22 percent are single; four percent are divorced; and, two percent are widowed.

The ambassador thanked the Egyptian government for its continued humanitarian stances, especially during the recent conflicts in Sudan and Gaza. He stressed that Egypt helped the Philippines evacuate Filipinos from Sudan and Gaza to safe places, and also continues to provide assistance and hospitality to everyone. The Ambassador invited everyone to visit the Philippines to experience its natural wonders, stunning landscapes, and kind people. The ceremony was attended by Ambassador Ahmed Shaheen, Assistant Minister of Foreign Affairs for Asian Affairs, Ambassador Nabil Habashi, Assistant Minister of Foreign Affairs for Protocol Affairs, and Mohamed Nawar, Head of Egyptian Radio. Embassy of Malaysia, Chargé d'Affairs of Embassy of Tajikistan, Chargé d'Affaires of Embassy of Thailand, and Deputy Ambassador of Chile.

Minister of Transport Kamel El-Wazir recently met with Frank Hartmann, the Ambassador of the Federal Republic of Germany in Cairo. During their discussion, Minister El-Wazir highlighted the excellent cooperation between Egypt and Germany in implementing significant transport projects. Additionally, Minister El-Wazir mentioned ongoing collaboration on the Tahya Misr container terminal project at Damietta Port. Furthermore, cooperation with the German company Herrenknecht involves supplying tunneling machines for Egypt’s fourth metro line. The German side remains committed to expanding mutual cooperation, particularly in the rapidly developing transport sector.

The Prime Minister emphasized the government’s ambitious plan to increase exports, aiming to reach $100bn annually by 2030. He highlighted the ongoing efforts to develop Egyptian products, offer investment incentives, and deepen industrialization. The Minister of Trade and Industry, Ahmed Samir, provided an overview of the measures taken to launch several export support initiatives between 2019 and 2023. The meeting delved into the methodology for evaluating the current export support system and its effectiveness in achieving targets for each activity and export market. He also underscored the need to expedite the automation of the export support system.

Preparations are being made for Modi’s visit to Moscow and dates will be announced soon, Kremlin spokesperson Yuri Ushakov said, according to Russia’s state-owned TASS news agency. “I can confirm that we are preparing a visit by the Prime Minister of India,” he said, according to TASS. India’s ties with Russia date back decades to the Cold War and have remained strong despite repeated sanctions on Moscow from Western governments. At the same time, India’s ties with the United States have grown stronger, amid shared concerns over China’s assertiveness in the Indo-Pacific region. Modi met with US President Joe Biden during a state visit to Washington last June, in a trip further cementing their defense, trade and technology partnership.

CAIRO - 25 June 2024: The UN Coordinator for the Middle East Peace Process, Tor Wennesland, confirmed that the Israeli Finance Minister’s announcement of obstructing funding for the Palestinian Authority threatens to destabilize the financial system in the West Bank. The UN Coordinator for the Middle East Peace Process announced, during his speech at the UN Security Council session that settlement in the West Bank undermines the peace process, according to Al-Qahera News TV Channel. He added that the Israeli Finance Minister's announcement of his intention to formalize settlements in the occupied Palestinian territories is a source of great concern. The UN Coordinator for the Middle East Peace Process pointed out that Israel's use of explosive weapons in densely populated areas in the Gaza Strip is horrific. He stated that it is "unacceptable to attack aid convoys and the facilities of international organizations."

The prime minister stated that the electricity crisis worsened on Monday because a gas field in one of the neighboring states got out of service for 24 hours. Further, to stop electricity cuts in summer from the third week of July until September, the government will import other fuels worth $1 billion in addition to the $180 million worth of mazut. Madbouli equally pledged commitment to set a plan for avoiding the resumption of power cuts in September until the end of the year. As for the meantime, due to the gas field crisis in the neighboring state, the electricity will be cut daily for three hours instead of two until the end of this week. In a related context, to save power generally, the government issued a decision for commercial shops to close at 10:00 p.m. instead of 11:00 p.m.

The Egyptian Meteorological Authority (EMA) said that the rise in humidity levels on Tuesday makes the weather feel hotter than usual, with values ​​ranging between two to three degrees Celsius. The EMA explained that very hot and humid weather will prevail for the next 72 hours across most of the country. It will be hot and humid on the northern coasts, moderately hot and humid at night in most areas, and moderate and humid on the northern coasts. Temperatures this week are about three degrees higher than normal rates, she said. However, as these masses pass over the Mediterranean Sea with the movement of the depression, they lose part of their heat and are carried with quantities of water vapor, which leads to higher humidity levels.

CAIRO – 25 June 2024: President Abdel Fatah El-Sisi instructed the government to take immediate measures to reduce duration of electricity cuts and achieve fair distribution of them among different neighborhoods, while working on ending the crisis altogether, high-profile source told Extra News Tuesday. Prime Minister Mostafa Madbouli will hold on Tuesday a meeting aimed at issuing key decisions on the electricity crisis, a governmental source told Extra News. The ministries of electricity and petroleum had announced Monday that the daily extra hour of power-saving electricity cuts would persist until the end of the week as it was planned to take place for just two days, Sunday and Monday. The Cabinet announced in January that power load reduction would be carried out as the electricity would be cut for two hours between 11:00 a.m. and 5:00 p.m. daily and the timings for each neighborhood would be declared.

The value of services provided through the electronic payment and collection system has reached LE 2.5 trillion in the first 11 months during this year, compared to LE 2.1 trillion in the same period last year, said Finance Minister Mohamed Maait. The total value of salary payments reached LE 299.4 billion compared to LE 242.2 billion in the same period of last year, he added. The minister also noted an increase in the value of electronic payment service for suppliers by 14 percent to reach LE 1.1 trillion compared to LE 989.8 billion in the same period of the previous year. In a press release on Sunday, the minister said that the financial inclusion is considered one of the main pillars for growth and the transition to the digital economy. The State has exerted strenuous efforts in the past decade in the digital payments sphere, he further said.

The Egyptian Ministry of Environment explained that it had not received any confirmed reports yet about the appearance of anything out of the ordinary in the North Coast. This follows in response to footage spread across social media raised questions of a possible shark or whale on the north coast has prompted the National Institute of Marine Sciences and Fisheries to form a monitoring group in the area. She also denied the recent appearance of any whales other than a dead whale which the ministry reported during Eid al-Adha. Statement from the institute explained that since the video sent only shows the dorsal fin and part of the body, and the head or tail fin area does not appear, it is difficult to accurately determine the species. It said it is likely that the object is a small fin whale, and work will continue to verify it completely.