It’s insightful to look back at the past and see the actions that led you to where you are now. Why do we keep on revisiting the past and feel bad for the decisions we made? But to move on and enjoy life, here are things to keep in mind when remembering the past and questioning your decisions. So instead of embracing the change and moving forward, we hold on to the past because it is familiar. Second, we are not ok with the idea of letting go of the past because it is how we feel jealous.
CAIRO – 8 January 2024: Egypt’s General Authority of Meteorology appealed to citizens to be careful of the temperatures during the coming days, as the country is witnessing very cold weather at night and early in the morning. The country is also expected to witness rain of varying intensity during the coming days. The weather forecast map issued by the General Meteorological Authority indicated that light rain is expected on Tuesday, January 9, to fall on areas of the northwestern coasts at intermittent intervals. The Meteorological Authority added that On Wednesday, January 10, and Thursday, January 11, rain of varying intensity is expected to fall on areas of the northern coasts and Lower Egypt, which may extend lightly to areas of Greater Cairo at intermittent intervals.
Royal Developments aims to achieve EGP 2.5bn in sales from its projects in 2024, according to CEO Karim Shaalan. He told Daily News Egypt that the company achieved sales of EGP 2bn in 2023. Shaalan expects a significant increase in demand for real estate and a recovery in the real estate market in 2024. He explained that real estate prices increased by more than 60% in 2023 due to the rise in raw material prices. These sales represent 30% of the total units in the project, with sales of EGP 1.8bn.
The project considers macroeconomic trends, as well as trends at the level of the economic and social sectors that support the renaissance of the Egyptian state. In terms of electricity, it is targeted in 2024-2030 to implement electrical interconnection projects between Egypt, Saudi Arabia, and Jordan, so that Egypt will become an active player in establishing a joint Arab market for electricity, in addition to electrical interconnection projects with Sudan and electrical interconnection projects with Italy and Greece. While regarding tourism agenda in (2024-2030), it is targeted to increase tourism revenue growth rates by no less than 20 percent annually to achieve a targeted revenue of $45 billion by 2030. The third strategic direction, among the most prominent strategic directions of the Egyptian economy, deals with the implementation of strategies, plans and programs that support the performance of the economic sectors leading the renaissance of the Egyptian state. The document's sixth strategic direction addresses Egypt's pioneering role in the global economy by activating and maximizing the economic role of the Suez Canal, enhancing Egypt's role in transit trade, and continuing to conclude effective international strategic partnerships.
The urban development and real estate investment sector in Egypt is one of the important sectors that contributed to the economic growth in Egypt in the past nine years, at a rate of more than 60%, according to Mohamed Rashid, a member of the Real Estate Development Chamber at the Federation of Egyptian Industries. These projects have created an urban and economic development shift, which has resulted in significant economic growth rates. Rashid noted that the government has taken measures to attract foreign investment in the urban development and real estate investment sectors, such as offering tax incentives and facilities to foreign investors. Rashid explained that the government has plans to further develop the urban development sector in Egypt. Rashid concluded: “These plans will aim to improve the investment environment, enhance economic growth in the urban development sector, and increase foreign investments in the sector, as Egypt has several factors that make it an attractive destination for foreign investments in the urban development and investment sector.”
Key player: Mohamed Salah. There will again be expectation on Salah’s shoulders as Egypt look to him to return them to winning ways, particularly after the disappointment of losing on penalties to Senegal in the last final in Cameroon. The Liverpool forward has won two African Footballer of the Year awards and become a global icon after a career which has also included spells at Basel, Chelsea, Fiorentina and AS Roma. Salah, Liverpool's leading Premier League goalscorer, made his international debut in 2011 and has since won 93 caps for his country, with the possibility to reach 100 if Egypt do well in the Ivory Coast. FIFA world ranking Dec 2023: 33How they qualified: Top placed team in Group D, ahead of Guinea, Malawi and Ethiopia.
The Egyptian Exchange (EGX) is planning to launch a new company that will specialize in trading financial derivatives, such as futures and options contracts. EGX is also reaching out to brokerage firms to apply for a licence from the Authority to conduct derivatives trading activities. Financial derivatives are financial contracts that derive their value from underlying assets, such as stocks, currencies, precious metals, or commodities. The first phase of launching the derivatives trading will include offering futures contracts on the main and seventy indices, followed by highly liquid stocks. Al-Sheikh stated that the market is waiting for the licensing of brokerage firms as trading members and banks as settlement members, after which the derivatives trading will commence.
The Ministry of State for Emigration and Egyptian Expatriates’ Affairs issued a warning on Sunday to all Egyptian students studying in Sudan to stay away from the areas affected by the ongoing military conflict. The ministry stated that it had noticed that many Egyptian students who had been evacuated from Sudan after the outbreak of the war had gone back to Sudan to complete their academic papers, and some had even resumed their studies at their universities. The ministry added that it had received several requests from residents to help their relatives return safely, as the fighting had escalated in the regions where the universities were situated. “Therefore, the Ministry of Emigration urges all students studying in Sudan not to return to these areas and to protect their lives.”
CAIRO – 7 January 2024: The grandson of Hamas Founder Sheikh Ahmed Yassin, Ali Abou Agwa, was killed in an Israeli airstrike on Gaza being the third journalist to die on Sunday and the 110th since the start of the war. Journalists Hamza Dahdouh and Mustafa Abu Thraya were killed earlier in an Israeli airstrike in Khan Yunis. In his meeting with a US delegation led by Senate members affiliated to the Democratic Party, President Abdel Fattah El-Sisi affirmed that reaching an immediate ceasefire and allowing humanitarian aid delivery to the besieged Gaza Strip is vital. The two sides reaffirmed the categorical and unequivocal rejection of any attempts to forcibly displace the Palestinians from their lands, and stressed the need to work toward general de-escalation in the region, to solidify the pillars of peace and stability, at both the regional and international levels. The American delegation lauded Egypt’s historical role in this regard, as well as its current tireless endeavors, as a force acting for peace, stability and development.
CAIRO – 7 January 2024: Chairman of The Sovereign Fund of Egypt (TSFE) Ayman Soliman stated in a phone-in Saturday that the land that used to house the headquarters of the dissolved National Democratic Party (NDP) lying on the Nile Corniche in Cairo would be invested by a coalition comprising mostly Emirati firms. The coalition won an auction beating three others, and it plans to build a hotel shopping mall, office building, and residential units. It is noted that the NDP's headquarters was set ablaze during the January 25 Revolution in 2011, as it was the ruling party under overthrown President Hosni Mubarak. The Sovereign Fund of Egypt (TSFE) announced in March signing a contract with Aya for Real Estate Development to lease the former headquarters of the Ministry of Interior in downtown Cairo. The company will revamp the complex at LE800 million, as well as pay a fixed annual rent, and a share of profits to TSFE.
CAIRO – 6 January 2024: Egyptian First Lady Entisar El-Sisi wished the Coptic Egyptian people Merry Christmas. Pope Tawadros II, Pope of Alexandria and Patriarch of the See of Mark led the Coptic Christmas Mass at the new capital’s Cathedral, praying to God for all those who are wounded and suffering from conflicts, wars and violence. Pope Tawadros II, presented a souvenir to President Sisi during Christmas celebrations at the Cathedral of the Nativity of Christ in the New Administrative Capital. During his brief visit to the cathedral, Sisi urged Egyptians to stand together in the face of the challenges and difficult circumstances, which is taking place amid critical global and regional developments. Pope Tawadros II is leading the mass.
The war on Gaza is nearing its third month. In the second stage, Hamas will release the female captives and the bodies of the dead, in exchange for more Palestinian prisoners being released. The United States may hope for the Palestinian Authority to resume its rule over the coastal enclave, which is now under Hamas’s control. In fact, some of the current leaders in the Palestinian Authority are facing more crises than they can handle, and this adds to the complexity of the situation. We are afraid that we will witness an internal power struggle in the West Bank between the old and new leaders, and then there will be no use for regret.
Western brands and franchises that are seen as supporting Israel’s war on the Gaza Strip have faced a wave of boycott campaigns in the Middle East. These campaigns aim to challenge Israel’s policies and have had a significant impact on Western brands operating in the region. Young people, who were previously detached from the Palestinian cause, have become more aware of the disaster and actively participate in boycotting Western brands. International Reactions and PerspectivesThe boycott campaigns against Western brands that support Israel have elicited mixed reactions from the international community. Egyptian brands such as Cilantro and Koffee Kulture have enjoyed increased popularity as consumers look for alternatives to boycotted brands like Starbucks.
Rubble of housing units destroyed by Israeli air-strikes on the Gaza Strip- Photo from the Palestinian embassy in CairoCAIRO - 5 January 2024: The United Nations announced on Friday that more than 76,000 people have been displaced in Lebanon as a result of the escalation with Israel on the border area. The announcement came after Israel carried out a series of airstrikes on the southern suburb of Beirut on Sunday, killing at least six people and wounding dozens more. The airstrikes were in retaliation for a rocket attack by Palestinian armed groups from Lebanon into Israel. The escalation between Lebanon and Israel has raised concerns about a wider conflict. The two countries have been technically at war since 1948.
CAIRO - 6 January 2024: Lebanon has filed an official complaint with the UN Security Council against the Israeli occupation regarding the attack on the southern suburb of the capital, Beirut, according to a breaking news report by Al Qahera News Channel. The United Nations announced that more than 76,000 people have been displaced in Lebanon as a result of the escalation with Israel on the border area. The complaint, which was submitted by Lebanon's ambassador to the United Nations, Nawaf Salam, accuses Israel of violating Lebanese sovereignty and international law. The complaint comes after Israel carried out a series of airstrikes on the southern suburb of Beirut on Sunday, killing at least six people and wounding dozens more. The airstrikes were in retaliation for a rocket attack by Palestinian armed groups from Lebanon into Israel.
