Prime Minister Mostafa Madbouly embarked on an inspection tour on Monday, aiming to advance various industrial and agricultural projects across the industrial zones of new cities and governorates. His tour began in the governorates of Beheira and Alexandria, where he inspected several agricultural, industrial, and technological projects. Additionally, Madbouly visited the SPE Egypt – Zahran Group factory for household appliances and utensils in New Borg El Arab city, Alexandria governorate. SEB Egypt – Zahran Group owns two factories in the Borg El Arab Industrial City, covering 60,000 sqm. The electrical appliances factory has an annual production capacity of 2 million units, while the cookware factory produces 1.5 million pieces annually.

Sherif Al-Sayyad, Chairperson of the Engineering Export Council of Egypt, has announced a remarkable 32.3% surge in engineering exports from January to April 2024, reaching a historic high of $1.673bn, compared to $1.264bn during the same period in 2023. In April 2024, engineering exports experienced a substantial rise of 50.3%, reaching $431.5m, compared to $287.1m in April 2023—a figure unprecedented in the sector’s history. Achieving sustainable growth in exports contributes to implementing the state’s strategy for enhancing commodity exports and reaching the target of $145bn in Egyptian exports by 2030. Furthermore, the engineering sector plays a crucial role in job creation and increasing value-added in local manufacturing. Mai Helmy, the Executive Director of the Engineering Export Council, outlined the council’s strategy to increase exports in 2024 by 15% to 20%.

Leaders of the Sudan’s Neighboring States Summit pose for a picture after the end of the summit in Cairo on July 13, 2023- press photoCAIRO - 28 May 2024: Egypt will host a conference in late June 2024 to bring together all Sudanese civil political forces, with the participation of relevant regional and international partners. The aim of the conference is to reach a consensus among the various Sudanese civil political forces on ways to build comprehensive and lasting peace in Sudan through a Sudanese-Sudanese national dialogue based on a purely Sudanese vision. This is in light of the deep historical, social, fraternal and deep ties that bind the Egyptian and Sudanese peoples together. And based on Egypt's commitment to supporting all efforts to achieve peace and stability in Sudan. Egypt looks forward to the active participation of all Sudanese civil political forces and relevant regional and international partners, and to join hands to ensure the success of the conference in achieving the aspirations of the brotherly Sudanese people.

CAIRO - 27 May 2024: Former MP Ahmed Tantawi was arrested Monday in Matariya Appeals Court to serve his one-year imprisonment over forging political endorsements in order to run for the 2024 presidential elections. The court upheld the sentence of Tantawi and his office manager along with paying a LE20,000-fine. Tantawi failed to collect the minimum number of endorsements either from the parliament or from citizens at notary offices to run for president. The case also involved another 21 defendants, who were members of the presidential campaign of Tantawi. Last October, number of people were arrested in the governorates of Alexandria, Giza, Fayoum, and Suez for forging endorsement forms for the favor of ‘one of the potential candidates’ for the 2024 presidential elections.

CAIRO – 27 May 2024: Investigation committees were formed to determine the details of the incident, define responsibilities and take the necessary measures to prevent its recurrence in the future, ahigh-level source told Al Qahera News on Monday. The Egyptian Armed Forces spokesperson Gharib Abdel-Hafez said on Monday that competent authorities are investigating the shooting incident that took place at the Rafah border, which led to the martyrdom of one of the security forces personnel. Egypt has warned against the repercussions of the Israeli military operations in the Saladin Axis (aka Philadelphia Corridor) along the border between the Gaza Strip and Egypt Egypt has warned against any actions that could jeopardize the security and safety of Egyptian personnel deployed on the border, the source said. Initial investigations into the shooting incident resulting in the martyrdom of a soldier on the border suggest that gunfire occurred between members of the Israeli occupation forces and members of the Palestinian resistance, he added. This exchange of fire led to gunfire in multiple directions, prompting Egyptian security personnel to take protective measures and deal with the source of the gunfire, the source continued.

Egypt is considering adjusting the price of subsidized bread to better reflect the soaring cost of production, Prime Minister Mostafa Madbouly announced on Monday. “There must be a move to make the selling price of bread commensurate with the tremendous increase in cost,” he said. Finance Minister Mohamed Maait revealed in March that Egypt has allocated over EGP 125bn to subsidize bread in the 2024-2025 budget. Officials promised to resolve the issue by increasing gas pressure and ensuring the availability of petroleum materials for electricity networks. The minister also highlighted the financial strain on the petroleum sector, which provides fuel supplies worth $55bn annually at actual costs of $20-22bn.

Post for Investment (PFI), the investment arm of Egypt Post, recently unveiled PFI Asset Management as part of its subsidiary companies. PFI Asset Management will serve as an integral arm, offering exceptional investment products to cater to the diverse needs and goals of individuals, financial institutions, and corporations. Ahmed Ali Abdel Rahman, Managing Director and CEO of Post for Investment, emphasized that PFI Asset Management aims to lead in leveraging and developing financial technology within the investment fund management, securities portfolios, and wealth management domains. PFI Asset Management is set to provide clients with an exceptional and comprehensive experience by delivering premium asset management services. Ghada El-Kady, the newly appointed Managing Director and CEO of PFI Asset Management, outlined the company’s ambitious strategic plan.

Burkina Faso’s transitional government has been granted a five-year extension starting from July 2nd, following national consultations held on Saturday. The decision, announced by Colonel Moussa Diallo, chairman of the organising committee, follows the signing of a new charter by transitional President Ibrahim Traore. The consultations involved civil society representatives, security and defence forces, and lawmakers in the transitional assembly. Under the new charter, President Traore will be eligible to run in elections at the end of the extended transitional period, as reported by Radiodiffusion Television du Burkina. The news of the extension comes amidst discussions of a potential confederation between Burkina Faso, Mali, and Niger, with the long-term goal of forming a federation between these West African neighbours.

Foreign Minister Sameh Shoukry participated in an Arab/European ministerial meeting in Brussels on efforts to implement the two-state solution in BrusselsCAIRO – 27 May 2024: Foreign Minister Sameh Shoukry participated in an Arab/European ministerial meeting in Brussels on efforts to implement the two-state solution, including recognition of the Palestinian state. The meeting was co-chaired by Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and Minister of Foreign Affairs of Norway Espen Barth Eide, in cooperation with High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell. The ministerial meeting came in the implementation of the recommendations of the joint extraordinary Arab-Islamic summit regarding developments in the Gaza Strip. The Participating Ministers affirmed their support for the efforts aimed at reaching an immediate ceasefire in the Gaza Strip, releasing prisoners and hostages, ending the war in the Gaza Strip and all illegal unilateral measures and violations in the occupied Palestinian territories, including controlling the Rafah crossing, and addressing the catastrophic humanitarian crisis. They also addressed concrete steps towards establishing a Palestinian state in the context of the two-state solution and moving to a political path that supports a sustainable solution to the Israeli-Palestinian conflict.

Yedioth Ahronoth newspaper reported that sirens were activated in all central Israeli cities and Tel Aviv after the barrage of rockets. Israeli TV Channel 12 confirmed that Tel Aviv was targeted from the city of Rafah, located south of the Gaza Strip. Simultaneously, the Israeli Army Radio revealed that approximately 12 rockets were fired from the Rafah area into the heart of Israel. In Herzliya, north of Tel Aviv, a person was injured by shrapnel from one of the rockets. Additionally, two women sustained minor injuries while seeking shelter in a protected area, according to Israeli Army Radio.

Egyptian President Abdel Fattah El-Sisi meets with Minister of Transport Kamel El-Wazir and several army commanders to discuss ports renovation efforts – PresidencyCAIRO – 26 May 2024: President Abdel Fattah El-Sisi has ordered continuing the development of Egypt's ports network, aligning with the government's efforts to enhance infrastructure and create more job opportunities. The president conveyed these instructions during a meeting with Minister of Transport Kamel El-Wazir, Commander of the Navy Ashraf Atwa, and several Armed Forces commanders. The meeting also emphasized the role of these ports in strengthening Egypt's position as a regional and global hub for maritime transport, logistics, and transit trade. In recent years, Egypt has implemented comprehensive plans to develop its maritime ports with the country enjoying over 3,000 km of coasts on the Red Sea and the Mediterranean. During this period, Egyptian ports have handled a staggering 1.5 billion tons of goods, according to the ministry’s data.

Egypt’s Prime Minister Mostafa Madbouly met with Ambassador Ilyas Sheikh Omar Abu Bakr, the outgoing Ambassador of Somalia to Egypt, on Sunday at the Cabinet headquarters in the New Administrative Capital. Prime Minister Madbouly welcomed the ambassador, wishing him success in his future endeavours, and affirmed Egypt’s full support for Somalia. He emphasized the importance of achieving security, stability, and peace in Somalia, highlighting its significance for regional stability. He emphasized Somalia’s aspiration for continued Egyptian support, particularly in light of the political and security challenges the country faces. He concluded by expressing his appreciation for the Egyptian political leadership’s support in achieving stability in Somalia.

Eastern Ukraine CNN —Russian President Vladimir Putin’s signaling this week that he is open to peace talks should be viewed with vast, overshadowing caveats, and the weight of Ukraine’s – and the West’s – past experience of Russian diplomacy. Putin questioned the legitimacy of Ukraine’s President Volodymyr Zelensky, who Moscow has repeatedly assailed, after Kyiv had to delay elections because of the very war Putin started. Zelensky has said he hopes China – Russia’s most potent ally but only partial supporter in the Ukraine war – will attend. Putin may be talking peace now to suggest to Beijing to not be involved in diplomacy about Russia without Russia present. Valentyn Ogirenko/ReutersUkraine’s Foreign Minister, Dmytro Kuleba, said Friday that Putin’s hints at peace talks were directly aimed at sabotaging the summit.

The parties have decided to resume mediation negotiations between Israel and the Islamic Resistance Movement (Hamas) to reach a ceasefire agreement in Gaza. The goal is to facilitate the exchange of Palestinian prisoners and Israeli detainees in the Strip. The talks aim to find common ground and establish stability in the region. The United Nations spokesperson also announced that the establishment of a temporary US pier on the Gaza coast allowed for the arrival of 97 humanitarian aid trucks within a week. It also reported that the toll of the Israeli aggression had risen to 35,903 deaths and 80,420 injuries since the seventh of last October.

In her address, the US Ambassador to Egypt, Herro Mustafa Garg, underscored the enduring partnership between the United States and Egypt. “This is my first Independence Day celebration as US Ambassador to Egypt,” Garg stated. Additionally, I aim to bring more American students to Egypt, building personal experiences and bonds that strengthen our relationship,” she assured. The Ambassador emphasized that the Egyptian-American security partnership is built on mutual respect, trust, and cooperation. In 2023, the United States and Egypt jointly hosted the largest iteration of the biennial Bright Star exercise, involving 34 participating countries.