Egypt inaugurates Gulf of Suez Wind Farm
Egypt’s wind farm in the Gulf of Suez, located approximately 20 kilometres off the coast of the Red Sea, was inaugurated. The wind farm can generate up to 262 megawatts of clean energy, supporting Egypt’s efforts to reduce carbon dioxide emissions. Additionally, the wind farm has been designed to protect migratory birds during their migration period through a shutdown-on-demand protocol. The wind farm in the Gulf of Suez serves as a significant example of tangible steps toward a fair transition to green energy. Germany’s support extends beyond this wind farm, including previous collaborations on the Zafarana Wind Farm (150 megawatts), the Gabal El Zayt Wind Farm (240 megawatts), the Zafarana Solar Photovoltaic Power Station (50 megawatts), and the rehabilitation and modernization of hydroelectric power stations in Egypt.
Source:Daily News Egypt
May 29, 2024 11:18 UTC
Comprehensive talks between Presidents Sisi, Xi Jinping
Official Welcome Ceremony for President Sisi at the Presidential Palace in ChinaCAIRO - 29 May 2024: Chinese President Xi Jinping received his Egyptian counterpart, President Abdel Fattah al-Sisi, at the Great Hall of the People, where an official reception ceremony was held, with the military band playing the national anthems of the two countries. President al-Sisi and his Chinese counterpart will hold comprehensive talks, Wednesday, in the Chinese capital Beijing, covering bilateral relations and regional and international developments, during the state visit by President Sisi to China.
Source:Egypt Today
May 29, 2024 09:59 UTC
Israel’s continuous strikes on Rafah result in more casualties among civilians
Israeli aircraft raids in the western part of Rafah, located in the southern Gaza Strip, have led to fatalities and injuries on Tuesday. On Tuesday, the Gaza Ministry of Health issued a statement indicating that both the Indonesian field hospital and the Tal Al-Sultan Clinic in Rafah were no longer operational. The situation has left only the Tal Al-Sultan Maternity Hospital struggling to provide essential services to patients in the area. On the same day, the General Directorate of Civil Defense in Gaza reported that its crews in Rafah encountered three attacks while carrying out their duties. The Civil Defence Directorate strongly condemned the deliberate targeting of its humanitarian crews, emphasizing that such actions violate international laws and norms.
Source:Daily News Egypt
May 29, 2024 03:24 UTC
Egypt, China to sign cooperation agreements
CAIRO - 28 May 2024: President Abdel Fattah El-Sisi and Chinese President Xi Jinping will hold an important summit meeting, Wednesday, at the Great Hall of the People in Beijing. Additionally, President El-Sisi and President Xi Jinping are scheduled to witness the signing ceremonies of several agreements and memorandums of cooperation in various fields. President El-Sisi's visit to Beijing comes in response to an invitation from the Chinese president for a state visit to the People's Republic of China. The China-Arab States Cooperation Forum includes China and 22 members of the Arab League, aiming to enhance dialogue, cooperation, peace, and development. The forum has adopted 19 cooperation mechanisms, including the ministerial meeting, senior officials' meeting, strategic political dialogue at the senior officials' level, Sino-Arab relations symposium, Sino-Arab civilization dialogue, Sino-Arab reform and development forum, Sino-Arab business conference and investment symposium, Sino-Arab energy cooperation conference, Arab arts festival, Chinese arts festival, Sino-Arab media cooperation symposium, Sino-Arab friendship conference, Sino-Arab cities forum, Beidou navigation system cooperation forum, Sino-Arab women’s forum, Sino-Arab health cooperation forum, Sino-Arab radio and television cooperation forum, experts' meeting on libraries and information, and the Sino-Arab technology transfer and innovation conference.
Source:Egypt Today
May 28, 2024 22:07 UTC
FRA to build fintech companies for SME financing, digital services
CAIRO - 28 May 2024: The Financial Regulatory Authority (FRA) has approved the establishment of Flind Company, a start-up using financial technology, to provide financing for small and medium-sized enterprises. The decision was made by the FRA's committee responsible for approving the use of financial technology in non-banking financial activities. Additionally, the committee approved the creation of V.Lens, a company specializing in electronic identification, verification, and authentication services. Farid further stated that the FRA has mandated all companies applying to use financial technology in non-banking financial services to adopt mechanisms and methodologies for managing and governing technological risks. The use of financial technology and the digitization of non-banking financial transactions are expected to enhance the capabilities of the non-banking financial sector, improving coverage in areas such as insurance, investment, and financing.
Source:Egypt Today
May 28, 2024 19:26 UTC
Prime Minister inspects agricultural, industrial, and technological projects in Beheira, Alexandria
Prime Minister Mostafa Madbouly embarked on an inspection tour on Monday, aiming to advance various industrial and agricultural projects across the industrial zones of new cities and governorates. His tour began in the governorates of Beheira and Alexandria, where he inspected several agricultural, industrial, and technological projects. Additionally, Madbouly visited the SPE Egypt – Zahran Group factory for household appliances and utensils in New Borg El Arab city, Alexandria governorate. SEB Egypt – Zahran Group owns two factories in the Borg El Arab Industrial City, covering 60,000 sqm. The electrical appliances factory has an annual production capacity of 2 million units, while the cookware factory produces 1.5 million pieces annually.
Source:Daily News Egypt
May 28, 2024 18:18 UTC
Egypt’s engineering exports surge 32.3% to $1.6bn in 4M 2024
Sherif Al-Sayyad, Chairperson of the Engineering Export Council of Egypt, has announced a remarkable 32.3% surge in engineering exports from January to April 2024, reaching a historic high of $1.673bn, compared to $1.264bn during the same period in 2023. In April 2024, engineering exports experienced a substantial rise of 50.3%, reaching $431.5m, compared to $287.1m in April 2023—a figure unprecedented in the sector’s history. Achieving sustainable growth in exports contributes to implementing the state’s strategy for enhancing commodity exports and reaching the target of $145bn in Egyptian exports by 2030. Furthermore, the engineering sector plays a crucial role in job creation and increasing value-added in local manufacturing. Mai Helmy, the Executive Director of the Engineering Export Council, outlined the council’s strategy to increase exports in 2024 by 15% to 20%.
Source:Daily News Egypt
May 28, 2024 17:02 UTC
Egypt to host conference for Sudanese Civil Political Forces in June
Leaders of the Sudan’s Neighboring States Summit pose for a picture after the end of the summit in Cairo on July 13, 2023- press photoCAIRO - 28 May 2024: Egypt will host a conference in late June 2024 to bring together all Sudanese civil political forces, with the participation of relevant regional and international partners. The aim of the conference is to reach a consensus among the various Sudanese civil political forces on ways to build comprehensive and lasting peace in Sudan through a Sudanese-Sudanese national dialogue based on a purely Sudanese vision. This is in light of the deep historical, social, fraternal and deep ties that bind the Egyptian and Sudanese peoples together. And based on Egypt's commitment to supporting all efforts to achieve peace and stability in Sudan. Egypt looks forward to the active participation of all Sudanese civil political forces and relevant regional and international partners, and to join hands to ensure the success of the conference in achieving the aspirations of the brotherly Sudanese people.
Source:Egypt Today
May 28, 2024 14:13 UTC
Former MP Ahmed Tantawi arrested after court upholds 1 year prison term
CAIRO - 27 May 2024: Former MP Ahmed Tantawi was arrested Monday in Matariya Appeals Court to serve his one-year imprisonment over forging political endorsements in order to run for the 2024 presidential elections. The court upheld the sentence of Tantawi and his office manager along with paying a LE20,000-fine. Tantawi failed to collect the minimum number of endorsements either from the parliament or from citizens at notary offices to run for president. The case also involved another 21 defendants, who were members of the presidential campaign of Tantawi. Last October, number of people were arrested in the governorates of Alexandria, Giza, Fayoum, and Suez for forging endorsement forms for the favor of ‘one of the potential candidates’ for the 2024 presidential elections.
Source:Egypt Today
May 27, 2024 20:13 UTC
Egypt: Necessary measures to be taken to prevent recurrence of border shooting incident
CAIRO – 27 May 2024: Investigation committees were formed to determine the details of the incident, define responsibilities and take the necessary measures to prevent its recurrence in the future, ahigh-level source told Al Qahera News on Monday. The Egyptian Armed Forces spokesperson Gharib Abdel-Hafez said on Monday that competent authorities are investigating the shooting incident that took place at the Rafah border, which led to the martyrdom of one of the security forces personnel. Egypt has warned against the repercussions of the Israeli military operations in the Saladin Axis (aka Philadelphia Corridor) along the border between the Gaza Strip and Egypt Egypt has warned against any actions that could jeopardize the security and safety of Egyptian personnel deployed on the border, the source said. Initial investigations into the shooting incident resulting in the martyrdom of a soldier on the border suggest that gunfire occurred between members of the Israeli occupation forces and members of the Palestinian resistance, he added. This exchange of fire led to gunfire in multiple directions, prompting Egyptian security personnel to take protective measures and deal with the source of the gunfire, the source continued.
Source:Egypt Today
May 27, 2024 18:52 UTC
Egypt’s Prime Minister signals potential bread subsidy reform
Egypt is considering adjusting the price of subsidized bread to better reflect the soaring cost of production, Prime Minister Mostafa Madbouly announced on Monday. “There must be a move to make the selling price of bread commensurate with the tremendous increase in cost,” he said. Finance Minister Mohamed Maait revealed in March that Egypt has allocated over EGP 125bn to subsidize bread in the 2024-2025 budget. Officials promised to resolve the issue by increasing gas pressure and ensuring the availability of petroleum materials for electricity networks. The minister also highlighted the financial strain on the petroleum sector, which provides fuel supplies worth $55bn annually at actual costs of $20-22bn.
Source:Daily News Egypt
May 27, 2024 18:04 UTC
Post for Investment launches PFI Asset Management under new leadership
Post for Investment (PFI), the investment arm of Egypt Post, recently unveiled PFI Asset Management as part of its subsidiary companies. PFI Asset Management will serve as an integral arm, offering exceptional investment products to cater to the diverse needs and goals of individuals, financial institutions, and corporations. Ahmed Ali Abdel Rahman, Managing Director and CEO of Post for Investment, emphasized that PFI Asset Management aims to lead in leveraging and developing financial technology within the investment fund management, securities portfolios, and wealth management domains. PFI Asset Management is set to provide clients with an exceptional and comprehensive experience by delivering premium asset management services. Ghada El-Kady, the newly appointed Managing Director and CEO of PFI Asset Management, outlined the company’s ambitious strategic plan.
Source:Daily News Egypt
May 27, 2024 10:53 UTC
Burkina Faso’s transition extended by 5 years after national consultations
Burkina Faso’s transitional government has been granted a five-year extension starting from July 2nd, following national consultations held on Saturday. The decision, announced by Colonel Moussa Diallo, chairman of the organising committee, follows the signing of a new charter by transitional President Ibrahim Traore. The consultations involved civil society representatives, security and defence forces, and lawmakers in the transitional assembly. Under the new charter, President Traore will be eligible to run in elections at the end of the extended transitional period, as reported by Radiodiffusion Television du Burkina. The news of the extension comes amidst discussions of a potential confederation between Burkina Faso, Mali, and Niger, with the long-term goal of forming a federation between these West African neighbours.
Source:Daily News Egypt
May 27, 2024 06:16 UTC
Arab/EU Ministerial meeting in Brussels address steps for establishing Palestinian state
Foreign Minister Sameh Shoukry participated in an Arab/European ministerial meeting in Brussels on efforts to implement the two-state solution in BrusselsCAIRO – 27 May 2024: Foreign Minister Sameh Shoukry participated in an Arab/European ministerial meeting in Brussels on efforts to implement the two-state solution, including recognition of the Palestinian state. The meeting was co-chaired by Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and Minister of Foreign Affairs of Norway Espen Barth Eide, in cooperation with High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell. The ministerial meeting came in the implementation of the recommendations of the joint extraordinary Arab-Islamic summit regarding developments in the Gaza Strip. The Participating Ministers affirmed their support for the efforts aimed at reaching an immediate ceasefire in the Gaza Strip, releasing prisoners and hostages, ending the war in the Gaza Strip and all illegal unilateral measures and violations in the occupied Palestinian territories, including controlling the Rafah crossing, and addressing the catastrophic humanitarian crisis. They also addressed concrete steps towards establishing a Palestinian state in the context of the two-state solution and moving to a political path that supports a sustainable solution to the Israeli-Palestinian conflict.
Source:Egypt Today
May 26, 2024 23:25 UTC
Palestinian resistance strikes Tel Aviv with barrage of rockets
Yedioth Ahronoth newspaper reported that sirens were activated in all central Israeli cities and Tel Aviv after the barrage of rockets. Israeli TV Channel 12 confirmed that Tel Aviv was targeted from the city of Rafah, located south of the Gaza Strip. Simultaneously, the Israeli Army Radio revealed that approximately 12 rockets were fired from the Rafah area into the heart of Israel. In Herzliya, north of Tel Aviv, a person was injured by shrapnel from one of the rockets. Additionally, two women sustained minor injuries while seeking shelter in a protected area, according to Israeli Army Radio.
Source:Daily News Egypt
May 26, 2024 19:59 UTC