Banks’ balances with one another domestically totalled around EGP 2.825trn, while their balances with banks abroad reached around EGP 1.594trn. Non-government deposits amounted to EGP 12.156trn, including around EGP 8.971trn in local currency and the equivalent of around EGP 3.184trn in foreign currencies. The report noted that the public business sector accounted for around EGP 158.696bn of total non-government deposits in local currency, while the private business sector’s share was EGP 1.484trn, the household sector EGP 7.277trn, and non-residents EGP 51.026bn. Meanwhile, in foreign-currency non-government deposits, the public business sector accounted for the equivalent of EGP 197.014bn, the private business sector the equivalent of EGP 1.020trn, the household sector the equivalent of EGP 1.852trn, and non-residents the equivalent of EGP 115.110bn. It said this increase was driven by a rise in net foreign assets at banks equivalent to EGP 110.9bn, and at the central bank equivalent to EGP 17.6bn.

Researchers combined climate information with health, socioeconomic and malaria control records to assess how the disease may evolve under future warming scenarios. The findings suggest that climate change could result in 123 million additional malaria cases between 2024 and 2050, along with more than 530,000 extra deaths, if malaria control efforts remain at today’s levels. Instead, climate change will mainly worsen malaria risk in high-burden regions. The study warns that climate change could undermine these gains and make global eradication targets far harder to reach by mid-century. The study concludes that climate change is no longer a distant future threat.

Egypt’s Prime Minister Mostafa Madbouly inspected the trial operation of the 430-bed Triple University Hospital in Minya on Saturday, as part of a wider tour of industrial, housing, and infrastructure projects in the governorate. Minya University President Essam el-Din Farhat said the governorate’s university hospitals currently provide 2 million medical services annually across 1,700 beds. He added that ongoing projects, including the Triple University Hospital and specialised units for ophthalmology, oncology, and paediatrics, will add a further 1,050 beds to the regional healthcare system. The Prime Minister also inspected the United Company for Drying Agricultural Crops, where total investment has reached $41m following the addition of an $11m production line. Regarding housing, Madbouly distributed contracts for the first phase of a 508m EGP residential project in the South Minya district.

The Egyptian Tax Authority (ETA) recently participated in the annual tax conference hosted by Ernst & Young (EY) Egypt, a forum dedicated to exploring the latest shifts in tax policy. Rasha Abdel Aal, Head of the ETA, underscored the vital importance of engaging in specialised dialogues that unite tax authorities with the broader business community. Such platforms are essential for strengthening communication channels and showcasing state-led initiatives to refine the investment climate. Ragab Mahrous, Advisor to the Head of the ETA, detailed the second package of tax facilitation measures, which rests on the dual pillars of procedural enhancements and legislative amendments. Furthermore, Mahrous confirmed that new legislation would permit recent tax periods to utilise the lump-sum tax system established under Law No.

Egypt’s Minister of Youth and Sports, Ashraf Sobhy, has participated in the International University Sports Federation (FISU) Executive Committee and Board of Directors meetings in China to discuss the strategic expansion of global university sports. The meetings focused on enhancing cooperation between continental and international federations and reviewing preparations for upcoming university sports championships and events, according to the ministry. Sobhy said Egypt’s active participation in the FISU meetings reflects the “advanced position” the country holds on the international sporting stage. The Egyptian government prioritises cooperation with international sports institutions and the exchange of expertise to implement global best practices in managing university sports, the minister added. As President of the African University Sports Federation, Sobhy presented a vision for the continent’s sporting development.

Egypt and Greece have signed a Memorandum of Understanding (MoU) to strengthen cooperation in creative industries and handicrafts, aiming to facilitate the access of Egyptian products to European markets through Greece. The agreement, signed between the International Creative Academy (ICA) of Egypt and the Foundation of the Hellenic World, seeks to support joint production of competitive handicraft products. The MoU was signed by Hany Barakat, President of the ICA, and Sophia Kounenaki-Efraimoglou, Executive Vice President of the Foundation of the Hellenic World. “The MoU represents an important step toward strengthening Egyptian-Greek economic cooperation in the high value-added creative and handicraft sectors,” El-Sherif said. The framework outlines several areas of joint cooperation, including the organisation of exhibitions, trade events, and joint creative workshops.

Egypt will assume the presidency of the African Union (AU) Peace and Security Council on Feb. 1, with a primary focus on addressing the ongoing conflicts in Sudan and Somalia. The Egyptian presidency aims to enhance the effectiveness of the council through a comprehensive approach to peace, security, and governance. Consultations are also planned with specialised agencies to examine the connection between food security and regional stability. During its term, the Egyptian delegation will present the annual report on the activities of the Peace and Security Council to the AU Summit of heads of state and government. The presidency will also include various field visits and consultations with relevant parties to coordinate regional security efforts, the ministry added.

Big Tech continues to wrestle with mass layoffs, most recently with Amazon’s announcement to slash 16,000 jobs. Amazon’s staggering jobs cuts this week, the second wave since October, brings the commerce giant’s recent layoffs to roughly 9% of its corporate workforce. While Amazon’s layoffs aren’t a direct result of AI, they’re tangentially related. AI is the “most transformative technology we’ve seen since the internet,” Beth Galetti, senior vice president of people experience and technology at Amazon, said when announcing layoffs in October. New technology can bring new business prioritiesIBM is one of the most prominent examples of mass layoffs in response to new technology.

The French Senate approved a bill aimed at facilitating the return of artworks and artifacts to their countries of origin, reflecting a significant shift in France’s approach to its colonial past. France responded to demands from numerous African nations, which endured years of French colonial rule, to reclaim historical artworks and artifacts looted during the colonial era, according to France 24. The French Senate unanimously approved the bill to facilitate the return of artworks and artifacts taken from former colonies. Algeria is demanding the return of personal belongings of the religious and military leader Emir Abdelkader al-Jazairi. Mali is seeking the return of pieces from the Ségou treasure, and Benin, which has received 26 artifacts in recent years, and has submitted additional requests including for the return of a statue of the god Djo.

Goma, Congo AP — A landslide earlier this week collapsed several mines at a major coltan A landslide earlier this week collapsed several mines at a major coltan mining site in eastern Congo , leaving at least 200 people dead, rebel authorities said Saturday. The collapse took place Wednesday at the Rubaya mines, which are controlled by the M23 rebels, Lumumba Kambere Muyisa, the spokesperson of the rebel-appointed governor of North-Kivu province told The Associated Press. The country produced about 40 percent of the world’s coltan in 2023, according to the US Geological Survey, with Australia, Canada and Brazil being other big suppliers. Despite the signing of a deal between the Congolese and Rwandan governments brokered by the U.S. and ongoing negotiations between rebels and Congo, fighting continues on several fronts in eastern Congo, continuing to claim numerous civilian and military casualties. The deal between Congo and Rwanda also opens up access to critical minerals for the U.S. government and American companies.

Wednesday’s Champions League matches witnessed fiery encounters and impressive results, including Liverpool’s resounding 6-0 victory over Qarabag. Salah’s victory came after a goal drought since November, propelling him to 11th place in the all-time Champions League top scorers list with 49 goals, surpassing Zlatan Ibrahimovic. This appearance against Qarabag marked Salah’s 80th Champions League match for Liverpool, equaling Jamie Carragher’s record. Barcelona continued their strong performances with a resounding 4-1 victory over Copenhagen, while Olympiacos edged past Ajax 2-1. Arsenal secured an important away win against German side Kairat 3-2, while Sporting Lisbon snatched a hard-fought 3-2 victory against Athletic Bilbao.

Israeli news site Walla reported a senior official in the Israeli army saying on Wednesday that the Rafah border crossing will open to pedestrians on Sunday. According to the Israeli website, government ministers were summoned last week to a cabinet meeting to discuss the reopening of Rafah crossing. At the end of the meeting of the Israeli Security Cabinet, which focused on a series of “sensitive issues” related to the continuation of the ceasefire in Gaza and steps toward the second phase of the agreements, the potential reopening of Rafah crossing was on the agenda. Israeli Prime Minister Benjamin Netanyahu earlier met for several hours with two senior envoys of US President Donald Trump, Steve Wittkopf and Jared Kushner. Another senior US official, Josh Greenbaum, also joined the meeting, which was part of an intensive US effort to bolster steps that would ensure the continuation of the ceasefire in Gaza and lay the groundwork for a long-term agreement.

The Suez Canal Authority (SCA) has issued a formal statement regarding the stranded vessel FENER, which has remained grounded off the coast of Port Said for nearly two weeks. The Authority clarified that the vessel lies outside its legal jurisdiction, noting that it cannot initiate salvage operations without an official request from the shipowner or relevant legal authorities. Positioned five miles west of the Suez Canal’s northern entrance in the Mediterranean, the vessel poses no threat to maritime navigation within the waterway. The statement further highlighted that despite the vessel’s location outside SCA waters, the Authority did not hesitate to fulfill its humanitarian duty. On Wednesday, the Authority submitted a comprehensive technical report on the vessel’s condition at the agent’s request.

The Egyptian Meteorological Authority (EMA) predicts a slight warming trend for Friday, with a chilly start to the day giving way to mild afternoon temperatures before turning cold overnight. In the capital, Cairo is expected to reach a high of 24°C and a low of 15°C. These winds may kick up sand and dust, particularly in open and exposed areas. Maritime conditions in the Mediterranean are expected to be moderate to turbulent, with wave heights reaching 2 to 3 meters and westerly to southwesterly winds. Meanwhile, the Red Sea will remain calm to moderate, with waves ranging from 1 to 1.75 meters and southwesterly to southeasterly winds.

The Alexandria Criminal Court sentenced a man to life imprisonment on Tuesday for the premeditated murder of his wife, professional judo athlete Dina Alaa. According to the case files, a domestic dispute escalated into violence, during which the defendant opened fire on the victim. Alaa sustained multiple gunshot wounds that, according to the forensic autopsy report, proved fatal. The case was originally filed at the Al-Raml First Police Station before being referred to the Criminal Court. Following a review of the evidence and the specialized medical reports, the judiciary handed down the life sentence, the maximum penalty for the charges filed.