World Bank, Egypt pledge deeper ties amid economic reforms
Egypt’s newly merged Ministry of Planning, Economic Development, and International Cooperation and the World Bank have vowed to deepen their partnership as the North African country presses ahead with economic reforms. The World Bank has already approved a $700m tranche for the program. The International Finance Corporation (IFC), the World Bank’s private sector arm, will also play a key role in the partnership. The meeting comes as the World Bank prepares to provide $6bn in financing to Egypt over the next three years. The funds will be allocated to support economic reforms and private sector development.
Source:Daily News Egypt
July 28, 2024 05:32 UTC
Egypt’s Finance Minister advocates fiscal discipline, economic resilience at G20
Egypt’s Minister of Finance, Ahmed Kouchouk, has emphasised the country’s adept handling of complex geopolitical impacts while implementing a comprehensive program to enhance economic performance. He expressed optimism regarding the International Monetary Fund (IMF) Board’s approval of Egypt’s economic reform program during the third review scheduled for July 29. Additionally, efforts are underway to reduce inflation rates, ensuring price stability, improving living standards, and supporting business competitiveness. Simultaneously, the government is streamlining tax and customs procedures to rebuild trust between the business community and tax administration, ultimately improving services for taxpayers. The Minister of Finance reaffirmed the government’s commitment to driving structural reforms and encouraging private investments in renewable energy, technology, water desalination, and infrastructure sectors.
Source:Daily News Egypt
July 27, 2024 21:07 UTC
CIA director to meet Egyptian, Israeli, Qatari officials in Italy for Gaza talks
CAIRO – 27 July 2024: Rome is set to host a crucial gathering on Sunday, bringing together senior officials from Egypt, Qatar, and Israel to confer with CIA Director William Burns. Meanwhile, Tel Aviv insists any deal must allow Israeli forces to resume military operations post-truce until Hamas is neutralized. The US offer proposes a phased approach to end the Gaza war and secure the release of all Israeli captives held in the enclave. These talks also occur alongside a visit by Israeli Prime Minister Benjamin Netanyahu to Washington. In a meeting with Biden, Netanyahu was also urged to reach a resolution with Hamas based on the US-supported agreement.
Source:Egypt Today
July 27, 2024 19:00 UTC
FM directs diplomatic missions to support Egypt's candidate for the position of Director-General of UNESCO
CAIRO - 27 July 2024: Egyptian Foreign Minister Badr Abdel-Aty said that the Ministry and its diplomatic missions abroad will provide all means of support and assistance to Egypt's candidate for the position of Director-General of UNESCO Khaled Anany. They discussed the support campaign for nominating Anany, the former Egyptian Minister of Antiquities, for the UNESCO post after he obtained the Arab League and the African Union’s support. On the 5th of April, 2023, Prime Minister Moustafa Madbouli announced that the former Antiquities minister Khaled el Anany will be nominated for the post of UNESCO director-general during the period between 2025 and 2029. Madbouli asserted Khaled el Anany’s candidacy for UNESCO post reflects the distinguished relations between Egypt and the international organization. The elections for choosing new UNESCO director-general will be held in the Paris-based international organization in 2025.
Source:Egypt Today
July 27, 2024 18:32 UTC
Pakistan PM condemns Israeli violence in Khan Younis
Pakistan Prime Minister Shehbaz Sharif on Saturday strongly condemned the ongoing violent acts by Israeli forces in the city of Khan Younis, Gaza, which have caused the displacement of approximately 150,000 Palestinians. In a statement, the prime minister highlighted that the siege of Khan Younis has halted the supply of food and other essential commodities to the area. He noted that Pakistan had effectively advocated for the Palestinians’ right to self-determination and against Israeli oppression in a statement at the International Court of Justice (ICJ). The prime minister reiterated his call for the implementation of recent ICJ decisions and United Nations resolutions regarding the situation. Shehbaz Sharif also mentioned that Pakistan had dispatched approximately 1,200 tonnes of relief goods to Palestine via Pakistan Air Force planes and another 1,500 tonnes through three ships.
Source:Daily News Egypt
July 27, 2024 18:03 UTC
Israeli forces blow up residential buildings in Khan Yunis
CAIRO - 26 July 2024: Al-Qahera News TV Channel reported quoting Palestinian media that the Israeli occupation forces are blowing up residential buildings east of Al-Qarara town in Khan Yunis, south of the Gaza Strip. The Israeli occupation forces continue to launch hundreds of raids and artillery shelling and commit crimes in various parts of the Gaza Strip, committing bloody massacres against civilians, and horrific crimes in the areas of incursion, amid a catastrophic humanitarian situation as a result of the siege and the displacement of more than 90 percent of the population. The Israeli occupation aircraft destroyed entire residential blocks in the Gaza Strip, as part of the comprehensive destruction policy pursued by the occupation in its ongoing aggression on the Gaza Strip. Thousands of martyrs and wounded have not yet been recovered from under the rubble due to the continued bombing and the dangerous field conditions, in light of the stifling siege of the Strip and strict restrictions on the entry of fuel and urgent vital aid to alleviate the catastrophic humanitarian conditions.
Source:Egypt Today
July 26, 2024 19:29 UTC
Egypt offers condolences to Ethiopia for victims of devastating landslides
CAIRO - 26 July 2024: Egypt voiced its sincere condolences to the Ethiopian people for the victims of the landslides in the south of the country, said Egypt's Ministry of Foreign Affairs Ahmed Abu ZeidMore than 250 people were killed in landslides in southern Ethiopia- Gofa Zone- on Sunday and Monday. However, the United Nations warned that the death toll could reach 500 people. Egypt also expressed its sincere wishes for a speedy recovery for the injured.
Source:Egypt Today
July 26, 2024 14:53 UTC
EMA warns of disruption of maritime navigation due rise of sea waves
CAIRO - 26 July 2024: The Egyptian General Authority of Meteorology (EMA) warned of disruption of maritime navigation in the Mediterranean Sea and waves rising from two to three meters. EMA called on vacationers and beach goers to be vigilant and follow the beach instructions, the authority said in a statement on Friday. Egypt witnessed on Friday a slight decrease in temperatures, ranging from 2 to 3 degrees in the north of the country and Upper Egypt. Satellite images indicated rainfall accompanied by thunderstorms and active winds is likely to occur Abu Simbel , Aswan, and Halaib and Shalateen. Dr. Mahmoud Shaheen, Director General of the Department of Meteorology and Early Warning of Weather Hazards, revealed that Egypt witnessed a hot weather on Friday.
Source:Egypt Today
July 26, 2024 13:09 UTC
Finance Mini.: Global challenges still put severe pressure on emerging economies
CAIRO - 25 July 2024: Egyptian Minister of Finance Ahmed Kouchouk stressed that despite the indicators that the global economy is witnessing a state of stability, there are still varying levels of recovery and that global economic challenges still represent severe pressures on emerging economies and developing countries. Minister Kojok added that the challenges are due to the high cost of financing and the decline in foreign direct investment flows directed to emerging countries. He also explained that the "protective trade policies" pursued by some advanced economies create additional obstacles to the movement of developing countries' exports. The Minister stressed the importance of directing reforms to support the competitiveness and productivity of the Egyptian economy. He also noted that the new government places at the top of its priorities enhancing the growth of the private sector by increasing the competitiveness and productivity of the Egyptian economy through providing more economic opportunities in a competitive and investment-attractive climate.
Source:Egypt Today
July 26, 2024 09:59 UTC
Egypt's Amb. to Argentina stresses historical ties between two countries
CAIRO - 25 July 2024: The Egyptian Ambassador to Argentina, Dr. Mohamed Kazem, stressed the close historical ties between the two countries, pointing out that the two countries celebrated this year the 77th anniversary of the establishment of diplomatic relations. This came in a speech delivered by the ambassador during the celebration held on the occasion of the 72nd anniversary of the glorious July Revolution, in the presence of the leaders of the Argentine Ministry of Foreign Affairs, in addition to representatives of many ministries, the government of the capital, Buenos Aires, the state representation headquarters, parliamentarians, and leaders of religious and cultural centers. Professors of Egyptology at Argentine universities, as well as leaders of the Egyptian community and heads and members of diplomatic missions. The Ministry of Foreign Affairs, Immigration and Affairs of Egyptians Abroad said on Thursday that the ambassador highlighted the renaissance Egypt is witnessing in various fields, calling on Argentines to flock there for the purpose of tourism as well as to benefit from the investment opportunities available in many sectors, especially in the Suez Canal Economic Zone. For her part, Ambassador Marcia Levache, Undersecretary of the Argentine Ministry of Foreign Affairs for Political Relations and representative of the Argentine government at the ceremony, delivered a speech characterized by warmth and appreciation for the Egyptian government, people and civilization, as she addressed the long history and distinction of bilateral relations between Egypt and Argentina, praising the pivotal role that Egypt plays in its regional environment.
Source:Egypt Today
July 26, 2024 09:48 UTC
99.2% of Gaza's cultural heritage destroyed
The most impacted sector is cultural heritage, with a staggering 99.2% affected, followed by education at 94.5%. The World Bank's detailed statement included a table showing the current impact of damage and destruction by sector in Gaza. The health sector reported a 93.3% impact as of May 20, 2024, with four additional assets damaged or destroyed, bringing the total current impact on the health sector to 93.8%. Media monitoring between May 20 and June 23, 2024, reported at least 597 housing damage incidents, averaging 17 housing destruction incidents daily. The governorates with the most significant increases in damage included Khan Younis (32 assets), North Gaza (22 assets), Rafah (11 assets), and Gaza (11 assets).
Source:Egypt Today
July 25, 2024 19:08 UTC
Egyptian government raises fuel prices
CAIRO - 25 July 2024: The Egyptian government raised Thursday prices of Octane 80 from LE 11 to LE12.25; Octane 92 from LE 12.5 to LE 13.75; Octane 95 from LE 13.5 to LE 15.5; and Diesel from LE 10 to LE 11.5. The government set the Kerosene price at LE 11.5, and that of mazut used for industrial purposes at LE 8.5K per ton while fixing the rate for majut supplied to power plants and food industries
Source:Egypt Today
July 25, 2024 17:28 UTC
CAMEA Bulletin – News from Afghanistan, Middle East & Africa (July 11, 2024)
Deputy Minister of Youth Affairs Commends TIKA at Project Inauguration, Calls for More Initiatives https://www.bakhtarnews.af/en/deputy-minister-of-youth-affairs-commends-tika-at-project-inauguration-calls-for-more-initiatives/4. Afghanistan Participates in 28th China Kunming Fair, Showcases National Products https://www.bakhtarnews.af/en/afghanistan-participates-in-28th-china-kunming-fair-showcases-national-products/6. Pakistani media claims over 100 vehicles daily export Afghan fruits and vegetables to Pakistan https://www.khaama.com/pakistani-media-claims-over-100-vehicles-daily-export-afghan-fruits-and-vegetables-to-pakistan/8. Kidnappings for ransom soar in ‘triangle of death’, worsening insecurity in west Africa https://northafricapost.com/78954-kidnappings-for-ransom-soar-in-triangle-of-death-worsening-insecurity-in-west-africa.html21. Mali, Niger, Burkina Faso: How a triumvirate of military leaders are redrawing West Africa’s map https://www.france24.com/en/africa/20240712-mali-niger-burkina-faso-how-a-triumvirate-of-military-leaders-are-redrawing-west-africa-s-map
Source:Daily News Egypt
July 25, 2024 11:19 UTC
The full schedule of the third week of the New Alamein Festival
The full schedule of the third week of the New Alamein Festival. The second edition of the New Alamein Festival continues with additional concerts, shows, sports, and entertainment events catering to diverse tastes. In accordance with the state's plan to reduce electricity load consumption, New Alamein Festival will hold 50 percent of its activities during the day. Given the current circumstances, the Alamein Festival has decided to launch its second edition under the slogan 'Alamein, the World,' raising the beloved Palestinian flag to flutter freely, with pride and dignity, alongside the Egyptian flag. The festival has also decided to allocate 60% of the profits from the second edition of Alamein festival to support our people in Palestine.
Source:Egypt Today
July 24, 2024 21:01 UTC
Weekly briefing: Mabdouly talks refugees, external debt, rumors
CAIRO - 24 July 2024: Egyptian Prime Minister Mostafa Madbouly held the weekly press conference at the cabinet’s headquarters in New Alamein city, where he responded to different questions concerning various topics. In his remarks, Dr. Mostafa Madbouly said that there is an expected launch of social housing units. External debtSpeaking about the state’s external debt, Madbouly pointed out that the state is working hard to control external debt, explaining that Egypt's external debt has decreased significantly, as announced by the Central Bank, pointing out that the government has developed a plan to pay the dues of foreign partners. He also explained that the gradual increase in the prices of petroleum products will take a year and a half. The Prime Minister said that some electrical wires melted in some transformers due to the extreme rise in temperatures.
Source:Egypt Today
July 24, 2024 20:05 UTC