Egypt - Youssef Salem, the Chief Financial Officer of Swvl for smart transport, said that the company has reached its targets in 2023 by becoming profitable. Salem told Daily News Egypt that the company has started rehiring some employees who were let go earlier. This move aimed to make the company profitable in 2023 instead of 2024 as originally planned. Swvl adopted various operational and administrative measures, relying mainly on technology rather than employees to speed up workflow and improve company performance. Swvl offers four services in Egypt: intra-city passenger transport, inter-city passenger transport, transport services for corporate clients, and private group transport rental services.

The electronic payment and collection services reached EGP 8.1trn, with 607.3 million transactions. The electronic payment and collection services for Egyptian taxes were EGP 1.9trn. The collection service through government electronic point-of-sale machines (GPOS) was EGP 154.6bn, and the collection value through the government’s online payment gateway was EGP 1.5bn. He also mentioned a significant expansion in electronic collection services through integrated collection companies with the Government Electronic Payment and Collection Center, achieving about EGP 2.9bn in government revenues. The total value of salary payments was EGP 1.071trn, and electronic payment service for suppliers was EGP 3.8trn.

CAIRO - 4 January 2024: The Rafah Crossing continues to open its doors between Egypt and the Gaza Strip for the entry of aid from the Egyptian side to the Palestinian side, and to receive new batches of wounded and injured people and those holding foreign passports. Crossing movement data during the past few hours showed the entry of 127 aid trucks and 7 ambulances, including 4 ambulances provided by the Kingdom of Saudi Arabia and 3 ambulances from the State of Kuwait, and 4 gas tanks on their way to be delivered to the Palestinian side. From the Palestinian side to the Egyptian side of the Rafah crossing, a new batch of wounded and wounded arrived, being transferred successively for treatment to Egyptian hospitals in North Sinai and the cities of Canal, Cairo and Sharqia, in addition to the arrival of new numbers of foreign nationals who leave Gaza on their way to their countries via Cairo Airport and will be received at the airport.

Egypt’s Prime Minister Mostafa Madbouly highlighted the significant state support allocated to five key sectors, totalling a staggering EGP 342bn annually. EGP 91bn annually, compared to less than EGP 50bn before 2021. Petroleum products: EGP 90bn, supporting each of the 18 billion litres of diesel consumed in Egypt with EGP 5. EGP 90bn, supporting each of the 18 billion litres of diesel consumed in Egypt with EGP 5. “It is impossible for any country or budget to continue increasing debt and borrowing,” the Prime Minister declared.

Prime Minister Mostafa Madbouly met with Ali El-Moselhi, the Minister of Supply and Internal Trade, on Tuesday to review the mechanisms for implementing market regulation decisions, as well as the silos project and the development of the milling sector. The Prime Minister stressed the importance of having various goods available, which helps to stabilize prices. He also stressed the need to follow up on the recent decisions about market regulation, which identified seven strategic commodities. 5000 for the year 2023, which specified certain strategic products. The Minister also said that a meeting was held to implement the decision that identified the seven strategic goods and products.

Ashraf Arabi, President of the Institute of National Planning (INP), said that the institute has prepared a comprehensive study for a unified public debt law in Egypt. This is a vital step for any country in the context of overall debt governance, similar to many other countries. Arabi told Daily News Egypt that the institute supports the enactment of a unified public debt law, aiming for governance and oversight by the Egyptian Parliament in the local debt process. He stressed the importance of this law, as Egypt does not have one. Arabi said that this law would help in better debt governance, and slow down the issuance of treasury bonds, which are a form of debt.

On Monday evening, Egypt’s Minister of Housing, Utilities and Urban Communities Assem Al-Gazzar met with Prince Khalid Bin Saud Bin Turki Al Saud, the CEO of the Saudi SFIG Group Amr Afifi, and their delegation, to showcase the investment opportunities in various fields. He said that Egypt has promising opportunities to invest in various fields, especially in new cities. The Minister of Housing showed Prince Khalid Bin Saud and his delegation many investment opportunities in the fields of tourism, hospitality, and food manufacturing, which are areas that the Saudi delegation was particularly interested in investing in. Prince Khalid Bin Saud Bin Turki Al Saud commended the great efforts made by Egypt to develop these huge projects in record times and various fields. He stressed that he had a great interest in investing in Egypt, which has promising opportunities for investment in various fields.

This coincided with the ongoing Israeli airstrikes on the Nuseirat camp in the centre of the Gaza Strip and Khan Yunis in its south. Borrell had previously criticized the Israeli military tactics that resulted in the deaths of civilians in the Gaza Strip, but he did not condemn the Israeli war, which he viewed as a reaction to the Palestinian resistance operation on 7 October. Shtayyeh urged the world to drop food by parachutes and open the crossings to deliver humanitarian aid to the Gaza Strip, amid the continued starvation crimes by the occupation in the Strip. Shtayyeh also thanked South Africa for filing a lawsuit against Israel at the International Court of Justice for committing genocide in its war on the Gaza Strip. In the past few days, the Al-Qassam Brigades claimed their control over two Israeli marches in the middle of the Gaza Strip.

CAIRO – 3 January 2024: Prime Minister Mostafa Madbouli stated that the Egyptian state needs to utilize this year and part of 2025 to overcome the current economic crisis and return to the economic levels of 2021. Madbouli stated that the state has managed to significantly contain the surging inflation by increasing subsidies, thereby reducing the burden on the people. Madbouli emphasized that the main concern of the Central Bank of Egypt (CBE) is combating inflation and reducing its rates. On Tuesday, the Ministry of Electricity and Renewable Energy announced a 16-26 percent increase in electricity prices, effective from January 2024. Furthermore, Madbouli highlighted the growing burden of bread subsidies due to unchanged bread prices.

No human among us is exempt from making mistakes, no matter how wise, old, or experienced in life. Here are 10 things you should forgive yourself for. It is okay not to know the answers to everything, and it is okay to say you don’t know something. Maybe you are a late bloomer, and that is ok. Just give yourself time to learn more about yourself and the things you love. It is only when you look after your needs that you will be able to look after those of others.

Britain said on Tuesday that it sent the Royal Navy destroyer “Diamond” to join an international coalition to protect ships in the Red Sea and the Gulf of Aden. The British government said in a statement that Diamond will join three US destroyers and a French warship in the region, to “protect freedom of navigation, international trade and human life by countering non-state actors in international waters.”On Monday, the United States announced the formation of the “multinational security initiative”, an international coalition to counter Houthi attacks in the Red Sea, which includes 10 countries, such as Britain, France and Italy. US Defence Secretary Lloyd Austin said in a statement that “countries that want to uphold the basic principle of freedom of navigation should work together to face the challenge posed by this entity.”Austin said the security alliance would work “to ensure freedom of navigation for all countries and to promote regional security and prosperity.”The alliance includes the United States, Britain, Canada, France, Italy, the Netherlands, Norway, Spain, Bahrain, and the Seychelles.

Capricorns, the last earth sign of the zodiac are truly one of those special distinctive signs that you can't get enough of. Since it is their season, let us dive into more of their traits:HardworkingCapricorns are known for being “workaholics”. RealisticUnlike most signs, Capricorns are very practical and realistic. They always ground themselves and try to calmly solve their problems with the stated facts, not with some uncertain assumptions. If you have a Capricorn friend or lover, expect total support, devotion, and commitment to you.

The minister appreciated the efforts made by the staff of the Dixmod floating hospital and the medical and treatment services it provides to the injured and wounded in Gaza. During the meeting, the minister reviewed the medical and therapeutic services provided to the wounded in Gaza in Egyptian hospitals. He also explained that 37 hospitals have been allocated to receive cases from Gaza, and complex cases are transferred to specialized hospitals. Abdel Ghaffar added that it was agreed that the Dixmod floating hospital would remain and continue to provide treatment services until the end of January. The proposal of establishing a field hospital near the Rafah crossing and Al-Arish General Hospital was also discussed to receive patients who had not previously received treatment in the Gaza Strip.

Egypt - CI Capital, the diversified financial services group, announced its achievements in December 2023, the conclusion of five bond issuances for prominent companies and entities operating in various sectors in the Egyptian market. These include Corplease, Egypt’s leading leasing company, Bedaya Mortgage, Aman for Financial Services and Consumer Financing, GB Leasing, and Factoring, and Rawasi for Urban Development. CI Capital, Al Ahly Pharos, and Commercial International Bank Egypt acted as financial advisers, issuance managers, and lead arrangers. Baker Tilly acted as the issuance’s financial auditor, and Zaki Hashem & Partners acted as legal adviser. The other issuances were Securitized Bond Issuances for GB Lease, worth EGP 1.645bn, and for Aman, worth EGP 1.148bn.

Egypt’s Ministry of Electricity announced a 16% to 26% increase in electricity tariffs starting January 2nd, marking the latest step in the government’s gradual removal of power subsidies. The move, reflected in February’s electricity bills, comes after a three-year delay in the government’s initial plan to fully eliminate subsidies by July 2022. However, the potential rise in industrial production costs could lead to increased consumer prices for goods and services. “The increase in electricity prices will remain within reasonable limits,” the government assured, pledging measures to mitigate the impact on low-income citizens. The latest increase aligns with ongoing efforts to streamline energy subsidies and improve fiscal sustainability.