As part of the EU’s continued support to people in Gaza, the Commission will provide a further €25m in humanitarian aid. This quadruples EU humanitarian assistance to over €100m for Gaza this year. Announcing the funding today, President von der Leyen said, “We are further increasing humanitarian aid to Gaza by another €25m. By doing so, the European Union would spend a total of €100m in humanitarian aid for civilians in Gaza. The operations aim to facilitate the prepositioning of aid in support of fast delivery of assistance to people in need in Gaza.

Palestinians inspect the damage following an Israeli airstrike on the El-Remal aera in Gaza City on October 9, 2023 - WAFACAIRO – 8 November 2023: Egypt is close to reaching a deal in Gaza that includes implementing humanitarian truce and exchanging captives, well-informed Egyptian sources told Al Qahera News. Egyptian sources also revealed that intensive Egyptian contacts are underway to reach the Gaza truce after more than four weeks of the war, noting that there are positive indicators that a deal is around the corner. The non-stop Israeli war against the Gaza Strip since 7 October has left more than 10,000 people dead, mainly women and children, and has injured tens of thousands of individuals. The Israeli strikes come in retaliation for a surprise attack that Hamas launched on 7 October, killing hundreds of Israelis and captivating around 240 people.

AUR Capital, a financial consulting company and a subsidiary of AUR Capital Financial Group, has successfully completed the first issuance of the second programme for AUR for Securitization on behalf of Waseela, a micro, small, and medium enterprise (MSME) finance company. The issuance was done in collaboration with several partners, including the Arab African International Bank, CI Capital, El Darrini & Partners for legal consultations, and KPMG. The issuance consists of two tranches with a total value of EGP 255m. Both tranches have received a P1 credit rating from MEIRS Middle East Credit Rating and Investor Services, which is the highest rating from the company. Ashraf Salman, the Chairperson of AUR Capital Financial Group, expressed his satisfaction with the group’s role in the issuance, which reflects its track record in completing Tawarruq transactions.

The Ministry of Health in Gaza announced dozens of dead and wounded in a new Israeli massacre in Deir al-Balah, in the central Gaza Strip on Tuesday. It also announced earlier on Tuesday that the death toll from the Israeli aggression on Gaza had risen to 10,328 martyrs. During the past 24 hours, more than 300 people and hundreds were wounded as a result of intense Israeli raids launched by the occupation army on many areas in Gaza. The Ministry of Health refuted the Israeli claims regarding the existence of safe corridors. These corridors are nothing but “corridors of death,” it said.

The first employment forum of Talaat Moustafa Group (TMG) received widespread acclaim from business leaders and residents of the group’s projects. They aim to provide integrated services for the residents of these new cities, as it is about building a complete community with its culture. Rasha Tantawy, Marketing Director at Techne, highlighted the positive concept of the company and residents being one entity, contributing to success. Residents of Madinaty and Al Rehab praised the employment forum, considering it a precedent and a testament to TMG’s excellence. TMG launched the employment forum at Madinaty Club, offering job opportunities within the group’s companies in various fields.

ESLSCA University in Egypt is set to host the Executive Education Summit on the 25th and 26th of November at the Royal Maxim Palace Kempinski, New Cairo. The Executive Education Summit is centered around three main pillars: Building Business Acumen, Sustainable Business Practices, and Beyond Digital Transformation. This summit is a testament to ESLSCA University’s commitment to fostering an environment of continuous learning and professional growth. It is an event not to be missed by anyone interested in executive education and the future of business. ESLSCA University is known for its game-changing and edge-providing courses and degrees.

The world is watching horror come to life as we sit down in the comfort of our own homes, feeling guilty, helpless, and depressed. This is called survivor`s guilt and it’s very common. To understand survivor’s guilt we need to see its definition, symptoms, and how to cope with it. Self-blame and guilt are listed as symptoms of PTSD in the most recent edition of the Diagnostic and Statistical Manual of Mental Disorders (DSM). It is possible to have PTSD without having survivor guilt, but many people who suffer from both conditions do.

The minister confirmed that there is no going back from the decision to localize industry in Egypt. This came during a session on the localization of the transportation industry in Egypt, within the activities of the third day of the International Exhibition and Conference for Smart Transport, Infrastructure and Logistics for the Middle East and Africa TRANSMEA2023. He added that Egypt strongly focuses on the transportation industries and their localization, pointing out that President Sisi’s directives are clear in this regard, and that Egypt is announced that it will not import buses from abroad and will manufacture them with national companies in cooperation with international companies. He further explained that at the current stage, Egypt will not contract or import new vehicles. The minister pointed out that there are attempts to manufacture train spark plugs with international companies to manufacture them inside Egypt, and we are also waiting for the manufacture of wheels for wagons, so that we can nationalize all transportation industries in Egypt.

Standard Chartered has appointed Mohammed Gad as the Chief Executive Officer of its newly established branch in Egypt, effective immediately. Gad is the first CEO of the branch, which received its full banking license from the Central Bank of Egypt in November 2022. Before that, Standard Chartered operated a representative office in the country. Gad has over 22 years of banking experience and joined Standard Chartered in 2012. Boutros Klink, CEO of Standard Chartered Middle East (excluding UAE), said: “Mohammed has extensive expertise in the region and a strong track record.

Minister of Finance Mohamed Maait has confirmed the government’s commitment to maintaining a stable tax policy that would encourage local and foreign investment, create more jobs, and improve the living standards of citizens. He said that the government wants to enable the private sector to make the best use of the available resources and the promising investment opportunities, with the support of a strong political will and a modern infrastructure. Ahmed El-Wakil, the President of the Federation of Chambers of Commerce, expressed his appreciation for the Minister of Finance’s continuous keenness to listen to the business community in its various sectors, which leads to strengthening the relationship between the government and the private sector and contributes to achieving the national goals and strategic objectives. He noted that the stability of the tax policy contributes to stimulating local and foreign investment and creating a more conducive environment for growth, which helps in planning for future projects. The meeting was attended by Ehab Abu Aish, the Deputy Minister of Finance for General Treasury; Mona Nasser, the Assistant Minister of Finance for Follow-up and Management of Customs Development Projects; Rami Youssef, the Assistant Minister of Finance for Tax Policies and Development; Al-Shahat Ghaturi, the Head of Customs Authority; Fayez El-Debaany, the Head of Tax Authority; Sayed Saqr, the Deputy Head of Tax Authority; Nisreen Lashin, the General Manager of the General Investor Services Administration; and Alaa Ezz, the Secretary-General of the Federation of Chambers of Commerce.

CAIRO – 6 November 2023: Egypt’s President Abdel Fattah El Sisi received a phone call from President of the European Commission, Ursula von der Leyen to discuss developments in Gaza. Spokesperson for the Presidency, Ahmed Fahmy, said the phone call focused on developments in the Israeli military escalation in Gaza. President El-Sisi and President von der Leyen reviewed efforts underway to deliver the largest amount of humanitarian aid to the people of Gaza, given the deteriorating humanitarian situation in the Strip. President El-Sisi confirmed that Egypt’s unyielding and relentless efforts to coordinate international humanitarian relief are not substitute for the imperative need for an immediate ceasefire. President Sisi reiterated Egypt’s unequivocal rejection of liquidating the Palestinian issue without a just solution, by displacing the Palestinians from the Gaza Strip to Egypt.

The spokesperson for the Izz al-Din al-Qassam Brigades, the military wing of Hamas, Abu Ubaida, announced that the brigades’ fighters had destroyed 27 Israeli military vehicles, either completely or partially, in the last 48 hours. He said on Monday that the Israeli forces that had penetrated the northwest and south of Gaza City were also targeted with mortar shells and that direct confrontations occurred with the enemy forces. He mentioned that a group of Israeli soldiers near Erez was also hit with mortar shells. Gunfire and violent clashes were heard on the fronts of the incursion between the Palestinian factions and the Israeli forces. The Israeli aircraft, artillery, and warships carried out more than 100 raids on Gaza City and the northern Gaza Strip in the past hours, targeting residential buildings, roads, and agricultural lands in an unprecedented way.

The Israeli aggression on the Gaza Strip has claimed the lives of 10,022 Palestinians as of Monday, according to the Ministry of Health in Gaza. The spokesperson for the ministry, Ashraf Al-Qudra, said that the Israeli forces committed 19 massacres in the last hours, killing 292 people. He also called for the evacuation of thousands of wounded from the Gaza Strip to Egypt and other Arab countries. It said that the Israeli forces cut off telephone and internet services before the attack. The Israeli forces also raided the area near the Indonesian Hospital, north of the Gaza Strip.

(MENAFN- Daily News Egypt) The Central Bank of Egypt (CBE) reported on Sunday that its international reserves rose to $35 in October 2023, up from $34 in September, marking an increase of $131m. The reserves consist of a basket of major international currencies, gold, and special drawing rights (SDR). According to the CBE, the value of gold in the reserves increased by $454m to $8 in October, while the value of foreign exchange reserves decreased by $664m to $26. Egypt's foreign reserves are used to provide essential commodities, repay external debt obligations, and deal with economic crises in exceptional circumstances. The composition of the reserves is based on the exchange rates and stability of the currencies in the international markets, and it changes according to a plan set by the CBE officials.

Egypt - A delegation of Schneider Electric company, led by Oliver Blum, Executive Vice President of Energy Management Business Worldwide, visited the Administrative Capital for Urban Development (ACUD) company and met with its Chairperson and Managing Director Khaled Abbas. The meeting focused on the development progress of the New Administrative Capital (NAC) city and the potential cooperation and investment opportunities between the ACUD and Schneider Electric. Abbas showcased the achievements of the NAC project and expressed the ACUD’s readiness to partner with Schneider Electric by presenting the available investment opportunities that would benefit both parties. The visiting delegation praised the accomplishments of the NAC project in a short time and expressed their interest in exploring cooperation opportunities, as Schneider Electric plans to launch seven new projects in the period between 2023 and 2025. ACUD has increased its assets to EGP 255bn, thanks to the government’s support and the high construction rates in the project.