CAIRO – 31 May 2024: The Egyptian government announced the offering of sacrificial bonds (sukuk) in foreign currency for Egyptians living abroad in celebration of Eid Al-Adha. The initiative is implemented in coordination between the Ministry of Awqaf (Endowments) and the Ministry of Emigration and Egyptian Expatriates' Affairs. The sacrificial sukuk initiative is adopted by the Ministry of Awqaf (Endowments) and various charities across Egypt. Instead, they must make a five-year bank deposit in foreign currency, which can be recovered in Egyptian pounds after maturity. Furthermore, Egyptian remittances serve as a significant source of foreign currency for the country.

Muslims go around kaaba in Mecca- Egyptian Pilgrimage - CC via Flicr/Muhammad Ghouri FollowCAIRO – May 31, 2024: Continuing the air bridge operated by EgyptAir, the national carrier, to facilitate pilgrimages to Mecca, EgyptAir will conduct 17 flights on Saturday for pilgrims heading to the Holy Land of Mecca. The airline will organize 11 Cairo-Jeddah flights, 5 Cairo-Medina flights, 1 Cairo-Taif flight, 3 Conakry-Medina flights, and 2 Bamako-Medina flights. EgyptAir has released guidelines for pilgrims traveling from Egyptian airports to the Holy Lands for this year's Hajj pilgrimage. To ensure the comfort and smooth travel of pilgrims, please adhere to the following instructions:· For outbound flights, pilgrims must arrive at Egyptian airports four hours prior to departure. · For return flights, pilgrims must be present in Jeddah six hours before departure and at Medina Airport six hours before departure.

The game was the first of what should be a couple of emotional matches for Endrick in the next few days. Endrick does not seem like a teenager, given his studious approach to watching Real Madrid matches. I end up studying the team more than cheering, I often already know the result when I'm watching," Endrick said. But I'm sure we will talk after the final, celebrating another Real Madrid title," Endrick said. It has been almost 18 months since Real paid over 60 million euros ($65 million) to sign Endrick as a 16-year-old.

Turki Al-Sheikh, Chairman of the Board of Directors of the Saudi General Entertainment Authority (GEA), revealed the details of the meeting he had with the representative of United Media Services ( UMS) to discuss cinematic cooperation in the upcoming period through a series of major films. Al-Sheikh announced via his official Facebook account that the meeting of the Big Time Fund in Jeddah, Saudi Arabia, was fruitful and important. “The meeting was attended by my dear brother, Ahmed Badawy, a representative of the UMS For Cinematic production, and the Saudi partners and investors, the results of this project will come out soon, with an important series of high-production Arab films. We discussed the steps of establishing Big Time Fund 2, by the end of this year. Big Time Fund 2, will support every Arab creator and provide valuable production that all the audience will enjoy.”

Mohamed Maait, Egypt’s Minister of Finance, has made it unequivocally clear that there will be no adjustments to income tax rates or brackets. In an official statement issued by the Ministry of Finance, Maait clarified that tax revenue is projected to surge by over 30% during the fiscal years 2023/2024 and 2024/2025. The Minister of Finance has urged both local and international media outlets to verify their information through reliable sources. He reiterated this stance during multiple meetings with the business community, emphasizing that there will be no changes to tax rates or brackets affecting commercial and industrial profits. Furthermore, Maait highlighted the government’s focus on expanding the tax base by integrating the informal economy through the widespread adoption of electronic tax systems.

Marie Louis Bishara, President of the Readymade Garment Export Council, recently announced impressive growth in Egypt’s ready-made garment exports. From January to April 2024, the sector’s exports surged to $856m, a substantial increase compared to the $697m recorded during the same period in 2023—an impressive 23% rise. Top Importers:

CAIRO - 30 May 2024: The United Nations praised the distinguished record of Egyptian achievements in peacekeeping operations over more than 60 years of its existence. The UN also hailed Egypt’s great sacrifices, as 60 brave blue helmets from Egypt sacrificed their lives for the sake of peace. This came in a joint article written by Ambassador Ahmed Abu Zeid, the official spokesman for the Ministry of Foreign Affairs and Director of the Public Diplomacy Department, and Elena Panova, the United Nations Resident Coordinator in Egypt, entitled “Towards more effective and appropriate UN peacekeeping operations for the challenges of the future... Reflections on 76 years of Peacekeeping operations and Egypt's track record." The two sides noted, in the article distributed by the United Nations Media Center in Cairo, that “as we commemorate the 76th anniversary of United Nations peacekeeping operations, we are looking at honorable pages of a long history, the lines of which have been etched by more than a million peacekeepers who served under the United Nations flag, in more than 70 peacekeeping operations on four continents, since the establishment of United Nations peacekeeping operations in 1948.

During his speech on Thursday during the inauguration of the 10th ministerial session of the China-Arab States Cooperation Forum, he stressed that "he immediate stop of this war is a must not only to save the Palestinian lives, but also necessary for maintaining the humanitarian conscience and principles of morals, justice and law." Abul Gheit added that there are 35,000 Palestinians martyred, mostly women and children, adding that cities in the Strip were completely destroyed. He asserted the AL stance supporting the sovereignty and unity of China, and further underlined the AL's commitment to enhancing Arab-Chinese relations. In this context, the AL chief lauded China's hosting of the forum, noting that the Arab world highly appreciates the Chinese development march. "Today, we mark the 20th anniversary for establishing the China-Arab States Cooperation Forum which was established in Cairo in 2004, thus marking a leap in the history of ties between the two sides," he said.

Egyptian President Abdel Fattah el-Sisi met with Chinese President Xi Jinping in Beijing during his state visit to China. CAIRO - 29 May 2024: The official spokesperson for the Egyptian Presidency, Ahmed Fahmy, stated that President Xi received President Sisi at the Great Hall of the People. President Xi praised Egypt's pivotal role and continuous efforts in maintaining calm and facilitating humanitarian aid. Both presidents agreed on the necessity of an immediate ceasefire and rejected the forced displacement of Palestinians from their lands. President Sisi underscored the paramount importance of securing Egypt's water security.

The presidents praised the significant progress in relations between Egypt and China in recent years, following the establishment of their comprehensive strategic partnership in 2014. The presidents expressed satisfaction with the fruitful results of the comprehensive strategic partnership, which has contributed to development and prosperity in both countries. China has participated in numerous major economic projects in Egypt, particularly in infrastructure, transportation, railways, shipbuilding, construction, investments, and space sciences. It calls for expanding Chinese industrial investments in Egypt, including in electric vehicle manufacturing, electronic devices, solar panel production, chemical industries, and building materials, as well as modern agricultural technology. Additionally, it aims to boost Chinese tourism to Egypt and encourage direct Chinese investments in hotel construction and management, as well as enhancing media, cultural, scientific, artificial intelligence, and academic cooperation.

Egypt’s wind farm in the Gulf of Suez, located approximately 20 kilometres off the coast of the Red Sea, was inaugurated. The wind farm can generate up to 262 megawatts of clean energy, supporting Egypt’s efforts to reduce carbon dioxide emissions. Additionally, the wind farm has been designed to protect migratory birds during their migration period through a shutdown-on-demand protocol. The wind farm in the Gulf of Suez serves as a significant example of tangible steps toward a fair transition to green energy. Germany’s support extends beyond this wind farm, including previous collaborations on the Zafarana Wind Farm (150 megawatts), the Gabal El Zayt Wind Farm (240 megawatts), the Zafarana Solar Photovoltaic Power Station (50 megawatts), and the rehabilitation and modernization of hydroelectric power stations in Egypt.

Official Welcome Ceremony for President Sisi at the Presidential Palace in ChinaCAIRO - 29 May 2024: Chinese President Xi Jinping received his Egyptian counterpart, President Abdel Fattah al-Sisi, at the Great Hall of the People, where an official reception ceremony was held, with the military band playing the national anthems of the two countries. President al-Sisi and his Chinese counterpart will hold comprehensive talks, Wednesday, in the Chinese capital Beijing, covering bilateral relations and regional and international developments, during the state visit by President Sisi to China.

Israeli aircraft raids in the western part of Rafah, located in the southern Gaza Strip, have led to fatalities and injuries on Tuesday. On Tuesday, the Gaza Ministry of Health issued a statement indicating that both the Indonesian field hospital and the Tal Al-Sultan Clinic in Rafah were no longer operational. The situation has left only the Tal Al-Sultan Maternity Hospital struggling to provide essential services to patients in the area. On the same day, the General Directorate of Civil Defense in Gaza reported that its crews in Rafah encountered three attacks while carrying out their duties. The Civil Defence Directorate strongly condemned the deliberate targeting of its humanitarian crews, emphasizing that such actions violate international laws and norms.

CAIRO - 28 May 2024: President Abdel Fattah El-Sisi and Chinese President Xi Jinping will hold an important summit meeting, Wednesday, at the Great Hall of the People in Beijing. Additionally, President El-Sisi and President Xi Jinping are scheduled to witness the signing ceremonies of several agreements and memorandums of cooperation in various fields. President El-Sisi's visit to Beijing comes in response to an invitation from the Chinese president for a state visit to the People's Republic of China. The China-Arab States Cooperation Forum includes China and 22 members of the Arab League, aiming to enhance dialogue, cooperation, peace, and development. The forum has adopted 19 cooperation mechanisms, including the ministerial meeting, senior officials' meeting, strategic political dialogue at the senior officials' level, Sino-Arab relations symposium, Sino-Arab civilization dialogue, Sino-Arab reform and development forum, Sino-Arab business conference and investment symposium, Sino-Arab energy cooperation conference, Arab arts festival, Chinese arts festival, Sino-Arab media cooperation symposium, Sino-Arab friendship conference, Sino-Arab cities forum, Beidou navigation system cooperation forum, Sino-Arab women’s forum, Sino-Arab health cooperation forum, Sino-Arab radio and television cooperation forum, experts' meeting on libraries and information, and the Sino-Arab technology transfer and innovation conference.

CAIRO - 28 May 2024: The Financial Regulatory Authority (FRA) has approved the establishment of Flind Company, a start-up using financial technology, to provide financing for small and medium-sized enterprises. The decision was made by the FRA's committee responsible for approving the use of financial technology in non-banking financial activities. Additionally, the committee approved the creation of V.Lens, a company specializing in electronic identification, verification, and authentication services. Farid further stated that the FRA has mandated all companies applying to use financial technology in non-banking financial services to adopt mechanisms and methodologies for managing and governing technological risks. The use of financial technology and the digitization of non-banking financial transactions are expected to enhance the capabilities of the non-banking financial sector, improving coverage in areas such as insurance, investment, and financing.