The Central Bank of Egypt (CBE) received 28 bids totalling $1.719bn in a tender for USD-denominated treasury bills. The CBE had initially offered $1.610bn in one-year treasury bills, maturing on November 12, 2024. The proceeds from this tender will be used to repay a previous tender offered on November 15, 2022, through which the CBE obtained $1.6bn. There was no significant change from the yield of a similar tender offered on June 5, 2023. Investors in the dollar-denominated bills subscribe in the same manner as local currency-denominated bill offerings.

(MENAFN- Daily News Egypt) Contact Financial Holding, Egypt's leading non-bank financial services provider, announced that its financing portfolio rose to EGP 19, up from EGP 13 during the comparative period of last year. This came in the company's consolidated financial results for the first nine months of 2023 announced on Tuesday. The company achieved significant growth in its financing portfolio, net profits, and key business segments, demonstrating its resilience and adaptability in the face of challenging market conditions. Net profits also surged by 33% to EGP 405m, demonstrating the company's resilience and the effectiveness of its growth strategies. “Meanwhile, our Contactcars platform continued to strengthen and support the Auto Financing segment and has also started to effectively monetize both classifieds ads and dealer subscriptions.

Egypt’s Mufti Shawki Allam denounced irresponsible remarks made by the Israeli occupation’s far-right finance minister, Bezalel Smotrich, suggesting that the “voluntary migration” of Palestinians in Gaza is the “right humanitarian solution” for the besieged enclave and for the region. In a press release by Dar Al-Ifta on Tuesday, Allam said this proposition is intended to liquidate the Palestinian cause, commending the Egyptian Foreign Ministry for its categorical rejection of the minister’s provocative statements, which constitute a flagrant violation of international law and humanitarian law. Greeting the people of Gaza for their steadfastness against the Israeli occupation, Allam also reaffirmed Dar Al-Ifta’s rejection of the forced displacement of Palestinians into Egypt, Jordan, or anywhere else.

Irish citizens may finally be able to flee Gaza today, as their names have been included on the country’s evacuation list. Up to 30 Irish citizens could have the opportunity to escape the conflict through Egypt’s borders. There are believed to be 40 Irish citizens currently in Gaza. “I am very pleased that a number of our Irish citizens are on the list today to come through the crossing at Rafah. "We expect additional Irish citizens and dependents in Gaza to be on the list in the coming days.

(MENAFN- Daily News Egypt) Egypt's President Abdel Fattah Al-Sisi and President Emmerson Mnangagwa of Zimbabwe met on Tuesday and expressed their desire to strengthen their bilateral relations, especially in the fields of development cooperation. They agreed on the importance of developing cooperation in agriculture and agro-manufacturing projects, maximizing the use of livestock and fish resources, and ensuring food security for both countries. They also discussed cooperation in various infrastructure sectors to provide joint development opportunities. In a separate meeting, President Al-Sisi met with Prime Minister Mostafa Madbouly and Minister of Supply and Internal Trade Ali Al-Mosilhi. This is part of the state's keenness to secure the needs of citizens and stabilize the Egyptian food security situation.

New Delhi: In a move that has sparked global outrage, Egypt has recently declared the establishment of a humanitarian aid corridor into the besieged territory of Gaza. Egypt’s President, Abdel Fattah al-Sisi, has pledged to ensure a “sustainable” humanitarian aid corridor for Gaza. The United States Vice President, Joe Biden, hailed President al-Sisi’s efforts in facilitating the aid corridor. FAQs:Q: What is the purpose of the aid corridor announced by Egypt? A: The aid corridor is intended to provide essential supplies and humanitarian assistance to the besieged territory of Gaza.

Sameh Shoukry, Minister of Foreign Affairs and President of the 27th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), chaired the final meeting of the Business Leaders Group for COP27 on Tuesday. The meeting was held virtually and attended by prominent figures from the private sector. The group aimed to communicate with various parties involved in climate action and to explore ways to support the efforts to achieve the climate goals. This fund represents an element of climate justice that contributes to the global efforts to confront climate change. These events aimed to overcome the obstacles to financing and to identify the investment opportunities and available solutions in this regard.

(MENAFN- Daily News Egypt) The Commercial International Bank's (CIB) stock has been making a comeback in the Egyptian stock market in the past week. Mohab Ajeena, Head of Technical Analysis at Beltone Financial Holding, advises current market participants to keep the Commercial International Bank's stock. Bassam Abu Ghaneima, Director of Technical Analysis at Arabeya Online, expects the Commercial International Bank's stock, along with Hermes' stock, to support the market's rise. Research centers on the Commercial International Bank indicate that its market value is higher than its fair value. Arab African International Securities Research views the positive business results for the Commercial International Bank in the third quarter of this year as a sign of optimism.

(MENAFN- Daily News Egypt)Egypt, through the General Division for Digital Economy and Technology of the Federation of Egyptian Chambers of Commerce and the Information Technology Industry Development Agency (ITIDA), is participating in the Web Summit, a global technology event held in Lisbon, Portugal, from 13 to 16 November. The event features 33 Egyptian startups, some of which are exhibiting their solutions under the Egyptian pavilion, and others are attending the conference sessions. This is the fourth consecutive participation of Egypt through the Egyptian pavilion. In the previous edition, Egypt participated with 23 startups under the Egyptian pavilion, and a delegation from the General Division for Digital Economy and Technology attended the conference sessions. This helps to attract more investments to this sector and expand the base of venture capital funds, international financing institutions, and platforms that support entrepreneurs in Egypt.

Nov 14 (Reuters) - Juventus have renewed the contract of Nicolo Fagioli until June 2028, the Serie A club said on Tuesday, after the Italian Football Federation (FIGC) banned the midfielder for seven months for breaching rules on betting on matches. Fagioli's previous deal, signed in August 2022, was valid until 2026. "The relationship with Nicolo therefore continues, with the midfielder having arrived at Juventus in 2015 as a 14-year-old, rising through the youth ranks until his senior debut in 2021," Juventus said in a statement.

The meeting focused on exploring the feasibility of utilizing local currencies for trade settlements between Egypt and India. Minister Maait emphasized Egypt’s commitment to diversifying funding sources and venturing into new financial markets through innovative and sustainable instruments. He highlighted the potential for Egypt to tap into India’s financial markets, building upon the success of Egypt’s issuance of Panda bonds worth 3.5bn yuan in the Chinese market and Samurai bonds worth 75bn Japanese yen. The exchange of experiences in financial inclusion technology and India’s support for Egypt’s comprehensive health insurance project were also among the key topics discussed during the meeting. This bilateral engagement underscores Egypt’s and India’s shared commitment to strengthening economic collaboration and addressing global economic challenges through innovative and mutually beneficial partnerships.

The Palestinian resistance factions announced on Tuesday that they inflicted heavy losses on the Israeli occupation forces in the ground incursions into the Gaza Strip. The Al-Qassam Brigades, the military wing of Hamas, said that its fighters killed 9 Israeli soldiers and destroyed or damaged 22 tanks and vehicles in various areas of the Gaza Strip. The Al-Quds Brigades added that they fired mortar shells at the enemy soldiers and vehicles in the southwestern Gaza axis. An Israeli official confirmed that negotiations regarding the detainees are ongoing with the mediation of Qatar, US intelligence, and Israel’s Mossad. Al-Ajouri is a leader of the Islamic Jihad and is accused of receiving training and financial support from Iran.

Egypt’s President Abdel Fattah Al-Sisi and President Emmerson Mnangagwa of Zimbabwe met on Tuesday and expressed their desire to strengthen their bilateral relations, especially in the fields of development cooperation. They agreed on the importance of developing cooperation in agriculture and agro-manufacturing projects, maximizing the use of livestock and fish resources, and ensuring food security for Egypt and Zimbabwe. The leaders of Egypt and Zimbabwe stressed the pivotal role of the African Continental Free Trade Area (AfCFTA) in advancing comprehensive development efforts in the continent. In a separate meeting, President Al-Sisi met with Prime Minister Mostafa Madbouly and Minister of Supply and Internal Trade Ali Al-Mosilhi. This is part of the state’s keenness to secure the needs of citizens and stabilize the Egyptian food security situation.

The General Union of Workers in Agriculture, Irrigation, Fisheries, and Land Reclamation, under the leadership of Engineer Eid Morsal, the Secretary-General of the Workers' Union, convened a labor conference in the Dakahlia Governorate on Tuesday to express support for presidential candidate Abdel Fattah El-Sisi in the upcoming elections. Morsal emphasized Egypt's success, under President Sisi's guidance and in collaboration with the people, the Armed Forces, and the police, in eliminating terrorism and achieving security and stability. This success has been accompanied by comprehensive development in political, economic, social, and international realms, ultimately restoring Egypt's standing globally. The union affirmed its support for the multitude of achievements realized during President Sisi's tenure, expressing confidence in his ability to continue leading Egypt towards progress and prosperity. As the Egyptian state moves steadily towards fulfilling a constitutional obligation related to presidential elections, the union, representing five million agricultural workers, declared its support for President Sisi's candidacy.

He commended Dar Al-Ifta for clarifying religious and worldly matters for Muslims, removing any ambiguities in their understanding. Fawzy noted the significant development witnessed by Dar Al-Ifta during President Abdel Fattah El-Sisi's tenure since 2014. Dar Al-Ifta has become a major reference in Islamic jurisprudence and knowledge. In response, Grand Mufti Shawki Allam stressed Dar Al-Ifta's significant responsibility in upholding trust and rectifying matters in line with Sharia. Allam affirmed Dar Al-Ifta's tireless efforts in combating extremism and radicalism.