(Reuters) - AC Milan has appointed Portuguese Paulo Fonseca as its new head coach on a three-year contract, replacing Stefano Pioli, the Serie A club announced on Thursday. Pioli left Milan after the 19-time Italian champions finished second last season, 19 points behind champions Inter Milan, and following lacklustre runs in the Champions League and the domestic cups. Fonseca, 51, last managed French side Lille, and was also in charge of AS Roma from 2019-2021. "AC Milan can confirm that Paulo Fonseca has been appointed as the head coach of the men's first team," the club said in a statement.

Egypt’s strategic location, infrastructure development, and economic reforms are propelling its transformation into a global logistics hub, a theme that dominated discussions at the third panel of the first New Development Bank seminar held in the country. The panel highlighted Egypt’s role as a vital link in global trade, with its proximity to major shipping lanes, the Suez Canal, and significant ports like Alexandria, Damietta, and Port Said. Stephane Guimbert, World Bank Group Country Director for Egypt, Yemen, and Djibouti, praised Egypt’s strategic location and economic reforms. He noted that 40% of global trade and 30% of containers pass through Egypt, highlighting the country’s potential as a regional hub for transportation and trade, particularly in green energy. The panel underlined Egypt’s growing prominence in global trade, fueled by its strategic location, infrastructure investments, and commitment to economic reforms.

The Financial Regulatory Authority (FRA) has released figures for non-banking finance at the close of the first quarter of 2024. In the realm of real estate, the total financing provided by companies amounted to EGP 5.318bn in Q1 2024, a substantial increase of 140.4% from EGP 2.212bn in Q1 2023. Consumer finance companies reported providing EGP 12.072bn in financing during Q1 2024, marking an 18.9% increase from EGP 10.155bn in the same period of 2023. Leasing Contracts and Sector BreakdownThe value of leasing contracts experienced a downturn, decreasing to EGP 23.420bn in Q1 2024 from EGP 28.08bn in Q1 2023, a 16.6% decline. Factoring ActivitiesRegarding factoring activities, the FRA observed an increase in the volume of factored papers to EGP 12.449bn in Q1 2024, up from EGP 10.729bn in Q1 2023, representing a 16% rise.

The Egyptian Ministry of Health and Population has provided medical examinations and treatments to 12,741 pilgrims through its 24 clinics in Mecca and Medina as part of the Egyptian Medical Mission for Hajj. Amr Rashid, leader of the Egyptian Ambulance Authority and the medical delegation, assured that all Egyptian pilgrims are free from contagious diseases. He highlighted the ongoing collaboration with Saudi health authorities and mentioned patient visits to Al Nour and Saudi German Hospitals in Mecca for health checks. Rashid also noted that medical teams are making regular visits to pilgrim accommodations in Mecca and Medina. He emphasized that no children are included in the group of visa-holding Egyptian pilgrims.

CAIRO – 12 June 2024: President Abdel Fatah El-Sisi received Wednesday a message from his Equatoguinean counterpart Teodoro Obiang Nguema Mbasogo and that was delivered by the vice-president. The message included an invitation to President Sisi to visit Equatorial Guinea, which was welcomed by the Egyptian chief of state. He also listened to the Equatoguinean vice-president's vision on pushing forward economic cooperation, bolstering trade exchange, and transferring Egypt's experience with eliminating hepatitis C.In turn, President Sisi highlighted that Egyptian private firms were ready to work in the sectors of infrastructure, building cities, creating urban communities, energy, transport, healthcare, and drug manufacturing. In another context, the president hailed Equatorial Guinea for its stance on the Palestinian Cause presenting the efforts deployed by Egypt to achieve a ceasefire in Gaza Strip. The two sides also exchanged views on the African scene, endeavors to reinforce continental peace and security, and ways to support development.

As summer brings excitement and outdoor activities, it also brings scorching temperatures, high humidity, and extended sun exposure, thus increasing the risk of dehydration if we don't take proper care to stay hydrated. Drinking water is essential to keep dehydration at bay, but there are also specific foods that if included in our diet, can help us feel hydrated and refreshed so here are some of the best water-rich foods and vegetables that are perfect for summer hydration! Their crunch and texture are perfect to pair with a dipping of your choice or make a refreshing green smoothie to get that hydration boost you need. TomatoesNot only are they packed with vitamin C, but they are 94% water, high in fiber, provide great health benefits, and can take any summer salad to a whole new level. CantaloupeIt’s the perfect low-calorie snack on a hot summer day.

Forbes Middle East has announced its “Top 50 Public Companies in Egypt” list for 2024, and for the third year in a row, Contact Financial Holding has been recognized among this prestigious group. This significant achievement reflects the company’s unwavering commitment to excellence and the success of its strategic direction. Being on this list for three consecutive years clearly indicates that Contact is on the right path, following a successful strategy that strengthens its position in the Egyptian financial market. Operating in the Egyptian market since 2001, Contact is the leading provider of non-banking financial services in Egypt. Said Zater, CEO of Contact Financial Holding, commented, “We are extremely proud to be selected once again among the top 50 public companies in Egypt.

Hamas had submitted its response to Qatari mediators, proposing amendments to the Israeli proposal, including a timeline for a permanent ceasefire and complete Israeli withdrawal from Gaza, a source with knowledge of the talks told CNN earlier on Tuesday. After submitting its response Tuesday, Hamas spokesman and political bureau member Osama Hamdan told Lebanon-based TV Al Mayadeen, the group was committed to achieving a ceasefire. “Israel received Hamas’ response. “The response of Hamas and the Palestinian factions to the truce proposal was responsible, serious and positive. “The proposal presented enables Israel to achieve these goals and Israel will indeed do so,” the statement concluded.

CAPE TOWN, June 11 (Reuters) - Striker Ayoub El Kaabi netted a hat-trick as Morocco stormed to a 6-0 win over Congo in World Cup qualification on Tuesday, maintaining their 100% start to the African preliminaries for the 2026 finals in North America. But other leading contenders, Cameroon and African champions Ivory Coast, were held to away draws on a busy day of action around the continent. El Kaabi kept up the goalscoring form that helped Olympiakos win the Europa Conference League last month with his hat-trick as Morocco made it three wins out of three in Group E.

CAIRO – 12 June 2024: Minister of Agriculture Al Sayed al-Qusair met Wednesday with his counterpart from Equatorial Guinea expressing readiness to cooperate with the country in producing high-quality seeds and animal vaccines as well as in the fields of applied research and human capacity-building. In that context, the minister suggested establishing a joint farm in Equatorial Guinea where seeds can be produced. He also proposed that the country would import Egyptian agricultural products known for their outstanding quality on the global scale. On his side, the Equatorial Guinean minister promised to accelerate the measures of setting up the farm, and invited the Egyptian business community to invest in the fields of agriculture, and animal and poultry production.

Egypt’s National Authority for Remote Sensing and Space Sciences (NARSS) and the National Water Research Center (NWRC) have signed a joint cooperation protocol to bolster national efforts in water resource management and development. The protocol, announced at a workshop on Tuesday, aims to leverage the expertise of both institutions to address Egypt’s water challenges. Sherif Mohammadi, head of NWRC, stressed the importance of collaboration between research institutions to confront challenges related to natural resources. Additionally, the protocol aims to advance research in new and renewable energy to rationalise water consumption in power generation. The meeting showcased the capabilities of both institutions, highlighting modern technologies that could revolutionise the study and sustainability of water resources.

BRICS foreign ministers, meeting in Nizhny Novgorod, have voiced their full support for Russia’s chairmanship of the group in 2024 under the theme “Strengthening Multilateralism for Just Global Development and Security.”The two-day event, chaired by Russian Foreign Minister Sergey Lavrov, included representatives from both BRICS member states and partner countries. In a joint statement, the ministers reaffirmed their commitment to bolstering strategic cooperation across three key areas: politics and security, economy and finance, and cultural and humanitarian ties. They also reiterated their dedication to the BRICS spirit of mutual respect, equality, solidarity, openness, and inclusiveness. Chinese Foreign Minister Wang Yi emphasised the role BRICS countries can play in shaping a multipolar world and economic globalization. This meeting marked the first gathering of foreign ministers since the BRICS expansion in 2024, which saw Egypt, Iran, UAE, Saudi Arabia, and Ethiopia join the original members Brazil, Russia, India, China, and South Africa.

Russia will host the fourth BRICS Solutions Awards competition to showcase the best technological solutions and practices from BRICS countries. Organised by the Agency for Strategic Initiatives (ASI) in collaboration with the Russian Chamber of Commerce and Industry, the competition will be held with the support of the BRICS Business Council. BRICS Solutions Awards’ participants can submit projects in eight categories, including Climate and Environmental Technologies, Artificial Intelligence and Digital Services, and Competencies and Human Resources Development, TV BRICS reported. The submission deadline is 31 July, and the results will be announced during the BRICS Business Council meeting in October 2024, ahead of the BRICS summit. “This BRICS Solutions Awards competition was held in 2020 when Russia was the chair of BRICS, we also held it in India and China,” Makarov said.

Egyptian Prime Minister Mostafa Madbouly participated in the opening session of the first international forum of the New Development Bank (NDB) in Egypt on Tuesday, under the auspices of President Abdel Fattah Al-Sisi. He underscored the event’s importance in presenting Egypt’s development initiatives, progress in community development, poverty reduction, infrastructure construction, and efforts to support the private sector. He emphasised the importance of the NDB in supporting member states’ development plans amidst regional and international economic challenges, noting the decline in available financing and the inadequacies of the current international financial system. During the forum, a documentary film highlighted the NDB’s contributions to development efforts among member states. Rania Al-Mashat, the Minister of International Cooperation, underscored the forum’s significance in bolstering Egypt’s development plans and exploring new avenues for economic cooperation.

Caracas, June 11 (RHC)-- The Latin American and Egyptian news platforms, teleSUR and Daily News Egypt, respectively, have announced the signing of an agreement to promote news collaboration between both agencies, both entities said. A statement said Egypt's English-language newspaper, Daily News Egypt, agreed on what it called "an innovative media partnership aimed at fostering news sharing and collaboration across continents." teleSUR and Daily News Egypt, with this partnership, aim to "enrich the news landscape of both regions by providing diverse perspectives and in-depth coverage of global events." In return, teleSUR will be able to use news content and programs produced by Daily News Egypt, further diversifying its programming and expanding its global reach. The partnership also includes provisions for collaboration on live broadcasts, joint production of news segments and sharing of journalistic expertise.