The battle for Mariupol nears end as Ukraine declares ‘combat mission’ over
(CNN) – Ukrainian forces have completed their “combat mission” in Mariupol, according to a statement by the country’s military, bringing the months-long battle for the besieged city close to an end. Ukraine’s Deputy Defense Minister Hanna Malyar described the evacuation operation in a separate video statement, noting that some Ukrainian forces remain at Azovstal. According to Malyar, the defense of Mariupol meant Russian forces were not able to transfer about 20,000 personnel to other regions of Ukraine, and thus failed to capture Zaporizhzhia. But Ukrainian fighters in the city had, in April, vowed to “fight until the end,” despite being surrounded, low on ammunition and outnumbered by Russian forces. The country’s Azov Regiment on Monday also issued a statement saying “the entire Mariupol garrison” was following orders to save lives.
Source:Egypt Independent
May 18, 2022 20:05 UTC
France’s Stellantis plans to build electric car factory in Egypt
Meeting of Prime Minister Mostafa Madbouli with the representatives of Stellantis at Cabinet’s headquarters in Cairo, Egypt on May 18, 2022. Press PhotoCAIRO – 18 May 2022: In light of its desire to build an electric car factory in Egypt, Prime Minister Mostafa Madbouli received Tuesday the representatives of Stellantis, the French company that owns the brands of Peugeot, Citroen and Chrysler among others, as well as those of its agent in Egypt. The representative of Stellantis Samir Shefran said that the company wants to benefit from the incentives offered by Egypt in the automotive sector. The prime minister checked in December the model of an electric car produced by General Motors, and is expected to be offered in the Egyptian market in 2022. The prime minister had held a meeting with them earlier with the attendance of Minister of Finance Mohamed Mait, and Minister of Industry and Trade Nevine Gamea.
Source:Egypt Today
May 18, 2022 13:21 UTC
Egyptian gas exports to Europe range between 10% and 15%, minister
The Egyptian Minister of Petroleum and Mineral Resources Tarek al-Mulla said on Tuesday that Egyptian gas exports to Europe range from 10 to 15 percent. In an interview with CNBC Arabia, on the sidelines of the third conference on energy efficiency in the petroleum sector, Mulla added that the gas is sufficient for the consumption of the local market, noting that Egypt aims to boost gas exports to European markets. With regard to the petroleum trade balance: the minister indicated that it made a surplus of about US$ 2.9 billion during the second quarter of the year 2021/ 2022. He explained that the increase in the value of Egyptian gas exports is eroding as a result of the increase in the prices of oil and its products. Regarding the agreement to export gas from Egypt to Lebanon, Mulla said that this is dependent on finalizing Beirut’s agreement with the World Bank.
Source:Egypt Independent
May 18, 2022 13:07 UTC
For 1st time in 30 years: Egypt to host annual meetings of IsDB on June 1-4
CAIRO – 18 May 2022: Egypt is hosting the annual meetings of the Islamic Development Bank Group (IsDB Group) in Sharm El Sheikh on June 1-4. Minister Said clarified that Egypt will present visions on cooperation and raise common issues concerning member states at all levels. The minister pointed out that the last time an IsDB annual meeting was held in her country was in 1991. Egypt is also home to one of the 11 regional headquarters of the IsDB, which has 57 members. Jasser also expressed his great confidence in Egypt's capabilities to make the 2022 IsDB Group Annual Meetings a success and make it a special event that would be ingrained in people's minds for years to come.
Source:Egypt Today
May 18, 2022 12:46 UTC
Alexandria Court resumes trial of murdered of Priest Arsanios Wadeed
Archipriest Arsanious Wadeed, the priest of Church of Virgin Mary in Alexandria was killed late Thursday after a man attacked himCAIRO – 18 May 2022: The Alexandria Criminal Court resumed Wednesday the trial of the murderer of the priest of Alexandria, Reverend Arsanios Wadeed, who was killed while on the Corniche last month. The defendant, known as “Abdel Rahman Nahr,” denied all the accusations drawn against him before the Alexandria Criminal Court during the first session of his trial. Residents of Muharram Bey street in Alexandria reportedly seized the man who attacked the priest, and the weapon. On April 8, the man who attacked the priest was detained pending investigations by Egypt’s Attorney general, Hamada El Sawy. Egypt’s Prosecutor General Hamada el Sawy ordered referring the man accused of killing Priest of the Church of the Virgin Mary in Alexandria Arsanious Wadeed to the criminal court for trial.
Source:Egypt Today
May 18, 2022 11:37 UTC
Egypt dealt with consecutive int'l crises successfully, Union of Arab Banks head
CAIRO – 17 May 2022: Egypt’s Prime minster Mostafa Madbouly said, Tuesday that the Russian-Ukrainian crisis imposed great challenges over several countries all over the world. He added during meeting with the Head of the Board of Directors of the Union of Arab Banks (UAB) Sheikh Mohamed El Jarrah El Sabbah that the political conflict has doubled the pressures on the Egyptian budget. El Sabbah said that the Egyption government managed to deal with the consecutive international crises successfully and provide basic commodities to its citizens amid the most difficult conditions. The UAB head made the remarks during a meeting held on Tuesday with Prime Minister Madbouly at the Cabinet headquarters. Madbouli thanked the AUB for selecting Egypt to host the Arab Banking Conference 2022 that is set to be held in Cairo on Wednesday under the theme: "The repercussions of the international crisis & its impact on the economic situation in the Arab region.”
Source:Egypt Today
May 18, 2022 02:30 UTC
Egypt diversifies financing sources to meet development needs: Finance min.
DAKAR - 16 May 2022: Egypt has over the past period diversified its sources of financing, especially the green loans, in order to meet the development needs, affirmed Finance Minister Mohamed Maait. At that time, the African countries attained suitable growth rates, the minister went on to say. Back in 2019, the inflation and interest rates were down and thus it was easy to obtain loans, he added, noting that unlike today the inflation and interest rates are high and the risks are also high. Even the hot capital has flown out of the developing countries, noted the minister. The minister further said that the financial market should reduce interest on loans for the countries which step up their transition to clean energy.
Source:Egypt Today
May 17, 2022 22:45 UTC
Egyptian Grand Mufti launches ‘Fatwa Pro’ during speech in UK parliament
The Egyptian Grand Mufti, Head of the General Secretariat for Fatwa Authorities Worldwide (GSFOW), Shawki Allam, launched the initiative of Fatwa Pro mobile app during his historic speech before the British House of Commons and Lord’s. The Grand Mufti explained to members of the British Parliament the application, which the Egyptian Dar al-Ifta initiated on smartphones, and is dedicated to Muslims in the West, using English, French and German. Allam added that the application aims to provide all fatwas of interest to Muslims and answer their questions within Islamic societies. Confronting extremist and terrorist groups and answering many of the issues that occupy the minds of Muslims and non-Muslims in Western societies about Islam and its teachings. The Mufti described Fatwa Pro as a moderate, permanent, and available mufti at any time for Muslims in the West.
Source:Egypt Independent
May 17, 2022 20:51 UTC
Benya to finish establishing investment arm in Saudi Arabia before end of June
Benya Group plans to establish an investment arm in the Saudi market before the end of next June as a first step to expand in the markets of the Arabian Gulf. The group also has successful experiences in the three sectors within the Egyptian market. He also pointed out that Benya was an essential part of this system. Furthermore, Al-Bayaa noted that Benya Systems — a Benya Group company — is currently implementing the second phase of the project to automate public business sector companies, as it recently contracted with the Holding Company for Drinking Water and Wastewater in Assiut and Beheira. He added that digital transformation projects contributed to making trained professionals available in the information technology sector.
Source:Daily News Egypt
May 17, 2022 18:16 UTC
Brmaja aims to offer 35% of its subsidiary on Egypt's EGX within few months
Egypt - Brmaja Group has announced its plan to offer 35% of its subsidiary Brmaja Innovation, on the Egyptian Exchange (EGX) over the next few months. Brmaja Innovation completed in February its registration with the Misr for Central Clearing, Depository, and Registry (MCDR). He pointed out that the group sees promising opportunities in the Egyptian market, as the subsidiary Brmaja signed a memorandum of understanding to acquire Brmaja Trading Company – Saudi Arabia, which has an estimated market value of about $20m, to keep pace with the great developments in the Egyptian market. Moreover, many companies were contracted with the private and governmental sectors in the various fields and activities of the group. Both Brmaja Innovation and Brmaja Technology are two subsidiaries of the Brmaja Group, which operates in 16 countries around the world, as it is present in eight Arab and African countries.
Source:Daily News Egypt
May 17, 2022 18:10 UTC
Egypt incurred human, material losses during war against terrorism: Study
The study indicated that one the human level, the losses of the war results in the 3,277 martyrs, in addition to 12,280 injured. It further quoted President Abdel Fattah al-Sisi’s remarks during the Egyptian Family’s breakfast party held in April, where he mentioned that the war cost Egypt around L.E. 84 million until the year 2017, at a monthly cost estimated by one billion pounds. The study focused on the war that Egypt waged against terrorism, as it indicated that in the wake of the June 30, 2013 revolution, Egypt witnessed a huge terrorist wave driven by the violent practices of the terrorist Brotherhood group. It further said that the Brotherhood mounted a “battle of existence” against Egypt’s institutions, after the overthrow of the Brotherhood rule.
Source:Egypt Today
May 17, 2022 10:32 UTC
Senior health official announces developments of the booster shot
He pointed out that the date of receiving the fourth dose of coronavirus vaccine will be determined according to clinical studies of the cases. Obtaining it every year or every six months depends on the epidemiological situation and the degree of disease spread and its resistance in each country. He pointed out that there is a significant increase in coronavirus infections in East Asian countries, America and the European Union currently. He said that severe and dangerous infections and cases have decreased significantly in Egypt, stressing the availability of medicines and supplies inside hospitals. He also said that the period for obtaining the third booster dose was shortened from 6 months to 3 months for groups most at risk, such as medical staff, the elderly and those with chronic diseases.
Source:Egypt Independent
May 17, 2022 09:57 UTC
Remittances from Egyptian expatriates rise 12.8% in March to $3.3 bln
The Central Bank of Egypt (CBE) announced that remittances from Egyptian expatriates rose in March to about US$3.3 billion, an increase of 12.8 percent on an annual basis, compared to about $2.9 billion in March 2021. The Central Bank added, in a statement on Monday, that remittances for March rose by 44.4 percent compared to February, during which it recorded about $2.3 billion. A recent report anticipates that remittances from Egyptian expatriates would grow at a faster pace this year to eight percent, compared to a growth rate of 6.4 percent in 2021. Egypt was one of the largest destinations for remittances from abroad in 2021, as the Egyptian government received remittances of approximately $31.5 billion. The report predicted a record rise in remittances to Ukraine, which is the largest recipient of remittances in Europe and Central Asia, by more than 20 percent.
Source:Egypt Independent
May 17, 2022 03:45 UTC
Egyptian envoy, EU commissioner probe Egyptian-European relations
The Foreign Ministry said on its Facebook account Monday that Abdel Ati posted the European official during the meeting on the Egyptian government's efforts to achieve sustainable development. The Egyptian diplomat said Egypt faces some challenges as a result of regional developments and the economic impact of the Russian-Ukrainian crisis which directly affected Egypt's food security and the global gas prices. He said the Russian-Ukrainian crisis negatively affected the flow of tourism to Egypt as 31 percent of foreign tourists used to come to Egypt from Russia and Ukraine. For his part, Várhelyi hailed the political leadership of Egypt and relations binding the two sides as well as continued contacts with Foreign Minister Sameh Shoukry to push forward Egyptian-European relations. The meeting also dealt with development projects carried out in Egypt as part of partnership between the two sides in addition to a visit by the Commissioner for Neighbourhood and Enlargement to Cairo in the coming phase.
Source:Egypt Today
May 17, 2022 00:50 UTC
Egypt tops African countries recipient of foreign investment for 5th year in a row
Egypt remained at the forefront of foreign direct investment in Africa for the fifth year in a row in 2020/2021, reaching US$ 5.9 billion, which represents 53 percent of foreign direct investment directed to North Africa. A report by the Ministry of Planning and Economic Development revealed that despite the challenges posed by coronavirus crisis. Egypt remained at the forefront of foreign direct investment recipient countries in Africa for the fifth year in a row in 2020/2021. The report indicated that foreign direct investment increased in the first quarter of 2021/2022 by 4 percent, with inward investment in non-petroleum sectors increasing by 28 percent, including industry, financial services, construction, information technology and communications. The report indicated that the United Kingdom accounts for 34 percent of the total foreign direct investment, followed by the United States.
Source:Egypt Independent
May 16, 2022 23:27 UTC