The Sovereign Fund of Egypt’s (TSFE) Board of Directors has convened its first meeting after a recent reshuffle, headed by Hala El-Said, the Minister of Planning and Economic Development and the Chairperson of TSFE. The meeting discussed the status of TSFE investments, as well as the progress of its projects and businesses and its sub-funds. El-Said praised the efforts of the former Board of Directors members who served at TSFE, namely Nevin Al-Tahiri, Hassan Al-Khatib, and Muhammad Farid. She also thanked the TSFE’s work team, its sub-funds, and the new Board of Directors. She further asserted that TSFE’s Board of Directors consists of experts in the field of investment, with a majority of independent members.

November 02, 2023 15:24 UTC

Egypt - The government is set to receive final financial offers from potential buyers of fuel stations owned by Wataniya Petroleum, a military-owned company, in the next two weeks, according to informed sources who spoke to Daily News Egypt. The deal involves selling 174 out of 300 fuel stations that Wataniya operates across the country while keeping 126 stations that are considered strategic and special under the company’s management, the sources said. The sources added that the interested investors have completed the due diligence process and are ready to submit their final financial offers starting next week. Among the bidders are Shell, in alliance with a Saudi investor backed by the Saudi government, TAQA Arabia, ADNOC, and ENOC. The payment will be made entirely in dollars, except for TAQA Arabia’s offer, which includes a part in pounds.

November 02, 2023 13:15 UTC

Receive email notification when a reply has been made to this topic and you are not active on the board. Receive email notification when a new topic is posted in this forum and you are not active on the board. Download this topic in different formats or view a printer friendly version.

November 02, 2023 12:42 UTC

Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing the 2030 Sustainable Development Agenda, spoke at the UNCTAD meetings about the challenges and opportunities of financing climate and development action in developing countries and emerging markets. He emphasized that climate action is not separate from development action, but rather an essential part of it. According to Mohieldin, the annual cost of implementing development action in general is estimated at $5.3trn, of which $2.4trn is needed for climate action alone. Addressing the negative impact of some new industrial policies in developed countries on the economies and competitiveness of developing countries. He said that financing climate and development action is not only a moral obligation but also a smart investment for a better future for all.

November 02, 2023 10:33 UTC

CAIRO – 1 November 2023: Egypt’s President Abdel Fattah al Sisi received a phone call from Prime Minister of the United Kingdom, Rishi Sunak. Spokesperson for the Presidency, Ahmed Fahmy, said the phone call focused on the latest in the Israeli military escalation in the Gaza Strip. President El-Sisi underscored the crucial need for the international community to adopt a decisive stance to push, in earnest, for a ceasefire and for the enforcement of an immediate humanitarian truce, given the deteriorating humanitarian conditions in the Gaza Strip. The President confirmed that settling the Palestinian issue requires the implementation of the two-state solution, stressing that military solutions seriously compromise security and stability in the entire region. British Prime Minister Sunak expressed profound appreciation for Egypt’s role, affirming the United Kingdom’s stance with regard to the vital importance to protect civilians, deliver aid and reach a humanitarian truce.

November 01, 2023 23:24 UTC





The Al-Qahera News Channel reported on Wednesday that 40 trucks of aid were unloaded at the Palestinian side of the Rafah crossing, and cooperation is in place between the Egyptian and Palestinian Red Crescents to serve the wounded. The channel reported that Egypt is preparing to receive about 80 injured Palestinians from the Gaza Strip, with ambulances deployed. The Gaza Strip has been subjected to Israeli land, sea and air bombardment since Hamas and other Palestinian factions launched operation “Al-Aqsa Flood” on October 7. The death toll from the Israeli bombing amounted to about 4,475 dead and more than 14,000 wounded in the Gaza Strip. On the Israeli side, more than 1,400 people were killed, including 306 officers and soldiers, while Hamas captured more than 200 Israelis.

November 01, 2023 22:29 UTC

The Chamber of Information Technology and Telecommunications (CIT) participated in the second edition of the Annual International Manufacturing Convention and Exhibition (IMCE), which was held under the patronage of President Abdel Fattah Al-Sisi from 28 to 30 October 2023. The CIT’s pavilion, supported by the Information Technology Industry Development Agency (ITIDA), featured nine companies that offered various solutions to industrial challenges, such as predictive maintenance, digitizing production lines, warehouse management, and tracking movements inside industrial facilities. The CIT also announced the winners of the ManuTech Challenge, a competition that invited entrepreneurs, owners of technological startups, and innovators to present effective technological solutions to real industrial problems. The 10 finalists had the opportunity to showcase their projects at the exhibition and network with potential sponsors and partners. The top three winners were nfrti X, Industry Run, and Autoinspecta, who received cash prizes and recognition for their innovative solutions.

November 01, 2023 20:21 UTC

Dell Technologies announced new additions to its Dell Generative AI Solutions portfolio, enabling businesses to transform their workflows with generative AI (GenAI). This Dell Validated Design for Generative AI provides best practices for customizing and fine-tuning GenAI models based on desired outcomes while keeping data secure and on-premises. With a scalable blueprint for customization, organizations can tailor GenAI models to accomplish specific tasks with their proprietary data. Paired with Dell Managed Services, Dell can operate the full NVIDIA-based GenAI solution, improving operational efficiency and allowing customers to focus on building their proprietary GenAI use cases. Education Services help customers gain the critical skills to close the GenAI capabilities gap.

November 01, 2023 20:07 UTC

CAIRO – 1 November 2023: Minister of Foreign Affairs Sameh Shokry received Wednesday the United Kingdom's Shadow Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy and Shadow Cabinet Minister for International Development Lisa Nandy to confer over the Gaza crisis and the unprecedented regional escalation. The meeting focused on the humanitarian and security aspects of the crisis so as the Egyptian minister urged concerting efforts to achieve an immediate humanitarian truce that guarantees the safe and sustainable delivery of aid. Minister Shokry stressed that the collective punishment, constant shelling, siege, forced displacement, and random targeting of civilians, which claimed the lives of over 8,500 civilians, carried out by Israel must not be labelled self-defense or combating terrorism. The minister noted that the current crisis makes the two-state solution a mandatory pathway to deal with the Palestinian Cause in the future, as the Palestinian people needs an independent and livable state.

November 01, 2023 18:14 UTC

Egypt - Elsayed Elkosayer, the Minister of Agriculture and Land Reclamation, announced that the release of animal feed supplies, such as maize and soybeans, will continue in coordination with the Central Bank of Egypt (CBE). He said that from 20 to 26 October of this year, 121,000 tonnes of these supplies, worth $60m, were released from ports. He added that the release consisted of 88,000 tonnes of maize for $31.6m and 33,000 tonnes of soybeans for $24.5m, as well as fodder additives for $3.6m. The total amount released from 16 October 2022 to 26 October 2023 reached 8.4 million tonnes, valued at $4.1bn. Elkosayer explained that the release aims to ensure the availability of maize and soybeans in the markets, which are essential for poultry and livestock feed production.

November 01, 2023 15:53 UTC

Rafah – Egypt has urged an immediate ceasefire in Gaza to stop the ongoing bloodshed. Madbouly added that Egypt is against targeting civilians from any side of the conflict and that it opposes the collective punishment of Palestinians in the Gaza Strip. “They can see for themselves.”Earlier on Tuesday, Madbouly revealed North Sinai Development Vision, which includes 302 projects worth EGP 363bn until June 2030. “All these projects will be implemented by the hands of people from North Sinai,” he said. He added that Egyptians are ready to sacrifice their lives to protect every grain of sand in Egypt’s North Sinai.

November 01, 2023 04:03 UTC

A new report from the World Bank examines the potential impact of the ongoing conflict in the Middle East on commodity prices, especially oil. The World Bank’s latest Commodity Markets Outlook provides a preliminary assessment of the possible implications of the conflict for commodity markets in the near term. Overall commodity prices are projected to fall 4.1% next year, as supplies of agricultural commodities and base metals increase. However, it also warns that an escalation of the conflict could push global commodity markets into uncharted waters, with significant implications for inflation, growth, and poverty. The report cautions that higher oil prices could have spillover effects on other commodity markets, especially food.

October 31, 2023 18:34 UTC

With regard to women, they compose 49.1 percent of the population, 31.3 percent of students at technical education, 45.3 percent at higher education, and 59.4 percent of beneficiaries of governmental microfinancing. The total number of schools in the governorate is 625 comprising a total of 3,800 classrooms that can accommodate 121,700 students. Regarding technical schools, they stand at 35. LE17.6 million were spent on creating alternatives to two slums, while unlicensed areas in Arish have been rehabilitated at LE225.5 million. North Sinai is home to six hotels consisting of a total of 428 rooms, and two hospitality schools, as well as two natural reserves.

October 31, 2023 16:39 UTC

The following slightly edited statement was issued Oct. 28, 2023 by Palestinian forces: Democratic Front for the Liberation of Palestine, Hamas (Islamic Resistance Movement), Palestinian Islamic Jihad, Popular Front for the Liberation of Palestine, and Popular Front for the Liberation of Palestine – General Command. The five Palestinian powers held a leadership meeting in Beirut on Oct. 28, 2023, to discuss the course of the Al-Aqsa Flood Battle with the Zionist enemy and its brutal aggression against the Gaza Strip. It targets hospitals, mosques, churches, universities, and ambulances, and cuts off electricity, water, fuel, the Internet and cellular communications for our besieged people. We salute the resistance forces in our nation, especially in Lebanon, Syria, Iraq, Yemen and Iran, and we affirm that our Palestinian people are not alone in this battle. Victory to our people and their valiant resistance.

October 31, 2023 14:45 UTC

Egyptian President Abdel Fattah Al-Sisi met with Prime Minister Mostafa Madbouly, Interior Minister Mahmoud Tawfik, Agriculture and Land Reclamation Minister Elsayed El-Kosair, and Local Development Minister General Hisham Amna, as well as other officials, to discuss the latest efforts to preserve and protect agricultural land. During the Monday meeting, the president was briefed on the challenges facing the concerned authorities in protecting agricultural land, and ways to overcome them. The presidency spokesperson, Ahmed Fahmy, explained that President Al-Sisi directed the government to continuously and carefully follow up on these efforts and to resolutely counter illegal practices of seizure and encroachment on agricultural land. The president emphasized that protecting agricultural land is essential to achieving Egypt’s economic and developmental goals, and to preserving the assets and rights of the state and the people. Daily News Egypt

October 31, 2023 13:51 UTC