PM, health minister, Sohag governor apologize to young doctor
CAIRO - 18 July 2024: Prime Minister Mostafa Madbouly, Health Minister Khaled Abdel Ghaffar, and Sohag Governor Abdel Fattah Serag all apologized to doctor Samar Anwar on Wednesday and Thursday after a social media campaign and Medical Syndicate pressure. He also saw a man holding his child, claiming doctor Anwar refused to check him. The doctor said she had asked the father to bring a ticket to admit the child and give him the medications needed. He accused her of having “no feelings or conscience.”Soon after a video of the incident was released, Anwar wrote on Facebook “is it normal to be treated that way and be insulted? Governor Serag received Anwar in his office, and the minister of health will received her on Monday.
Source:Egypt Today
July 18, 2024 11:56 UTC
Power-saving electricity cuts to end in Egypt on July 21 till mid-September
CAIRO – 17 July 2024: Prime Minister Mostafa Madbouly stated in a press conference Wednesday that power-saving electricity cuts would end on Sunday, July 21, until mid-September, revealing that electricity use increased by 12 percent in 2024. The prime minister unveiled that additional 3-4 GW will be needed in 2025, and that was the reason the government would accelerate increasing the share of renewables in the energy mix. In a related context, he highlighted that the inflation rate had been falling for the fourth month in a row. "To put an end to the frequent increase in the prices of goods, the government is working on boosting supply by promoting investment opportunities," the Egyptian prime minister said. Madbouli similarly shed light on the fact that the government succeeded in reducing foreign debt from $168 billion to $160 billion.
Source:Egypt Today
July 17, 2024 21:19 UTC
Investment banks predict CBE to maintain unchanged rates for second consecutive meeting
Many investment banks anticipate that the CBE will maintain interest rates unchanged for the second consecutive time, following the previous decision made on 23 May. The CBE’s main interest rates serve as a crucial indicator for short-term pound interest rate direction. Several investment banks, including EFG Hermes, Beltone, Naeem, Zilla Capital, CI Capital, Al Ahly Pharos, Mubasher Financial Services, Thndr, and Arab African International Securities, expect the CBE to maintain interest rates unchanged for the second consecutive time. However, our interest rate model estimates that investors require a 36.1% interest rate on 12-month T-bills, aligning with the maximum yields requested by banks. A Reuters poll involving 18 analysts also predicts that the CBE will maintain interest rates, with one analyst forecasting a 100 basis points cut.
Source:Daily News Egypt
July 17, 2024 15:06 UTC
Egypt, Congo confer over updates of joint water project
CAIRO – 17 July 2024: Ambassador to the Democratic Republic of Congo Hesham al-Moqawad - accompanied by a delegation from the Ministry of Irrigation and Water Resources - met Monday with Congolese Minister of Environment and Sustainable Development Eve Bazaiba. The meeting tackled the updates of the implementation of the integrated water resources management project (GIRE) by an Egyptian grant. On her side, the Congolese minister expressed interest in increasing the number of joint projects with Egypt. Egypt had built a center for rain and flood forecast in Congo. Five months later, hundreds others also lost their lives because of the same kind of natural disasters.
Source:Egypt Today
July 17, 2024 11:12 UTC
Egypt is making great efforts to reach ceasefire in Gaza, Fatah official
CAIRO – 16 July 2024: Secretary of the Palestinian Fatah movement, Zaid Taim, said that Egypt is making great efforts to reach a ceasefire in the Gaza Strip and resolve the Palestinian crisis. He added that It is a continuation of the genocidal war led and for which the Israeli occupation bears responsibility. The source further stressed that Israel's persistent pursuit of policies leading to further escalation carries grave consequences for the entire region. Additionally, Egypt has alerted relevant parties to the dangers of Israeli escalation in Gaza and the targeting of civilians, the source added. These warnings coincide with a deadly Israeli air attack on the Al-Mawasi refugee camp in Khan Younis, southern Gaza Strip, on Saturday.
Source:Egypt Today
July 17, 2024 11:08 UTC
Egypt condemns shooting attack in Oman's Muscat
CAIRO – 16 July 2024: Egypt on Tuesday expressed its condemnation of a shooting attack that took place in Al-Wadi Al-Kabir area in Oman's Muscat, leaving a number of people dead and injured. Posting on his X account, Spokesman for the Foreign Ministry Ahmed Abu Zeid said Egypt stands by the Sultanate of Oman at this critical time. The spokesman wished a speedy recovery for the wounded.
Source:Egypt Today
July 17, 2024 05:02 UTC
President Sisi receives phone call from French counterpart Macron
CAIRO – 16 July 2024: Egypt’s President Abdel Fattah al Sisi received a phone call from French President Emmanuel Macron. This is in addition to the role of the Egyptian-French partnership in supporting security and stability in the Middle East. During the call, the two presidents exchanged views on a number of regional and international issues, mainly developments in the Gaza Strip. President Sisi reviewed the ongoing Egyptian mediation efforts to reach an immediate ceasefire and the exchange of captives. French President Macron valued Egypt's tireless efforts since the outbreak of the crisis.
Source:Egypt Today
July 17, 2024 04:58 UTC
Fintech startup dopay secures $13.5m to expand digital payroll platform for emerging markets
dopay, a fast-growing financial technology (fintech) company, has secured $13.5m in an extension to its Series A funding round. The company provides a digital payroll and payments platform for unbanked and underbanked workers in emerging markets. dopay’s innovative virtual banking platform allows employers to make digital cash payments to workers and beneficiaries. By addressing the core issue of efficient and timely payroll payments, dopay aims to transform the payroll landscape and contribute to Egypt’s broader economic development. Their success in Egypt will serve as a blueprint for expansion into other emerging markets, showcasing the transformative power of their digital payroll solutions.
Source:Daily News Egypt
July 17, 2024 02:47 UTC
Switzerland's Shaqiri retires from international football
July 15 (Reuters) - Former Bayern Munich and Liverpool winger Xherdan Shaqiri announced his retirement from international football on Monday, after a 14-year spell with the Swiss national team. Shaqiri has played 125 matches for Switzerland, scoring 32 goals. He is the only Swiss player to appear in seven major tournaments, from World Cup 2010 to Euro 2024. The 32-year-old made two appearances in Euro 2024 as Switzerland exited from the quarter-finals.
Source:Egypt Today
July 16, 2024 17:15 UTC
Egypt poised to become mining investment hub: Badawi
Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed Egypt’s exceptional potential in the mining sector, positioning it as an attractive investment destination. His remarks came during his participation in a panel discussion at the Egypt Mining Forum on Tuesday. Badawi highlighted the significant role of global mining companies operating in Egypt and their active contributions, particularly in providing advanced technologies, modern techniques, and expertise. Horgan confirmed the availability and feasibility of solar energy in Egypt to support mining projects. The Egypt Mining Forum, held under the patronage of President Abdel Fattah Al-Sisi, serves as a platform for industry leaders, government officials, and investors to discuss the latest trends, challenges, and opportunities in Egypt’s mining sector.
Source:Daily News Egypt
July 16, 2024 16:48 UTC
US dollar exchange rate against the Egyptian pound on Friday
The exchange rate of the US dollar against the Egyptian pound stabilized on Friday after the last decline recorded on Thursday, as weekly trading closed on a downward trend. Here are the dollar exchange rates at some of the major Egyptian banks on Friday. These reforms included a move towards a more flexible exchange rate system, allowing the market to determine the value of the dollar to some extent. This could lead to more confidence in the Egyptian pound, causing its value to rise. Temporary Fluctuation: It’s also possible that the decline is a temporary fluctuation within the new, more flexible exchange rate system.
Source:Egypt Independent
July 05, 2024 16:29 UTC
A global tax war is looming. It could hit Big Tech hard
New York CNN — A stalemate in Washington could destroy a landmark tax deal that was painstakingly hammered out among 140 countries over the better part of a decade. Some analysts say that the United States’ inability to ratify the deal could lead to a tax war among the richest nations that would hit tech behemoths like Google, Apple, Meta and Amazon particularly hard. Canada recently implemented a local tax on the world’s largest tech companies, something the OECD treaty had sought to avoid. New Zealand has also said it will implement its own digital services tax on large multinational companies beginning in 2025. The FTC also said that documents showed that competing mattress suppliers would lose access to its most important retail channel.
Source:Egypt Independent
July 04, 2024 23:39 UTC
Exploring Egypt’s Female Box Office Stars
Throughout the rich history of Egyptian cinema, male artists have consistently dominated the box office, drawing large audiences and achieving impressive revenues. However, female stars, despite their ability to generate significant income through their cinematic works, have often been overlooked. Despite these remarkable achievements, recent years have seen a lack of female artists competing with male stars for box office success. Perhaps critics and cinephiles can shed light on the current box office stars of our time. Emerging Female Artists ShineCritics like Walid Saif recognize the emergence of a group of young female artists who play significant roles.
Source:Daily News Egypt
July 04, 2024 20:12 UTC
Malaysia, Egypt discuss combating terrorism
They discussed ways for Malaysia to benefit from Al-Azhar's expertise in combating extremism. King Ibrahim requested Al-Azhar to increase the number of scholars sent to various Malaysian states and expand educational opportunities for Malaysian youth to join Al-Azhar University. He emphasized leveraging Al-Azhar's vast experience in combating extremism through a proposed conference in Malaysia, involving Al-Azhar scholars to articulate proper Islamic approaches to contemporary issues such as coexistence, tolerance, and combating hatred. Grand Imam Al-Tayeb congratulated King Ibrahim on his ascension to the throne of Malaysia, expressing hopes for continued prosperity and progress under his leadership. He noted the significance of his first visit to Malaysia since assuming the position of Grand Imam, acknowledging Malaysia as a model Muslim state capable of sustainable development and pride in Al-Azhar's historical ties with the country.
Source:Egypt Today
July 04, 2024 17:29 UTC
Military leadership transition: Abdel Megeed Sakr assumes Defence Ministry role
Lieutenant General Abdel Megeed Sakr, who was promoted from Major General of Staff on Wednesday, has been sworn in as the new Minister of Defence and Military Production. He succeeds Lieutenant General Mohamed Zaki. Born in 1962, Sakr holds a bachelor’s degree in military sciences from the Military College, a fellowship from the National Defense College, and a master’s degree in military sciences from the Military Academy for Postgraduate and Strategic Studies. He also served as the head of the Military Police Department and was appointed Governor of Suez in 2018. Sakr has been honored with several orders and medals, including the Military Duty Medal (first class) and the Long Service and Good Example Medal.
Source:Daily News Egypt
July 04, 2024 03:01 UTC