Middle East CEOs prioritize leadership challenges amidst growth forecast
Middle East leaders are expressing heightened concern over leadership attraction, development, retention, and succession compared to their global counterparts, according to the 2024 Heidrick & Struggles Middle East CEO and Board Survey. Despite the World Bank’s forecast of 2.7% economic growth for the Middle East and North Africa in 2024, regional leaders are primarily focused on economic (56%) and geopolitical (56%) uncertainties. However, a key differentiator for Middle East leaders lies in their emphasis on leadership issues. “In 2024, Middle East organizations face an increasingly complex external business environment, and regional intricacies that demand a localized approach,” said Richard Guest, partner in charge of Heidrick & Struggles’ Middle East and North Africa. Markus Wiesner, regional managing partner of Heidrick Consulting, emphasized the importance of culture and strategic planning in leadership development.
Source:Daily News Egypt
May 14, 2024 09:38 UTC
10 dead bodies recovered from east Palestinian Rafah: Civil Defense in Gaza
CAIRO - 13 May 2024: A total of 10 dead bodies were recovered from the Al-Salam neighborhood, east of the Palestinian city of Rafah, as a result of the Israeli bombing, said the Civil Defense in Gaza. The Israeli occupation army threatens to completely invade the Palestinian city of Rafah, which is the last refuge for the displaced in the stricken Strip. Since the beginning of the ground operation launched by the occupation forces on the Gaza Strip, last October 7, citizens are asked to evacuate from the north and center of the Strip, and to head to the south, claiming that it has “safe areas.”Thousands of martyrs and wounded have still not been recovered from under the rubble due to the continued bombing and the seriousness of the field conditions, in light of a stifling siege of the Gaza Strip and severe restrictions on the entry of fuel and urgent vital aid to alleviate the catastrophic humanitarian conditions.
Source:Egypt Today
May 14, 2024 02:40 UTC
Egypt denies Israeli reports alleging phone conversation between head of Intelligence, Shin Bet over Rafah crossing crisis
File- An Egyptian soldier keeps watch at the closed Rafah border crossing, between southern Gaza Strip and Egypt November 6, 2014. REUTERS/Ibraheem Abu MustafaCAIRO – 14 May 2024: Egyptian sovereign officials refute media reports alleging telephone discussions regarding the crisis of the Rafah border crossing between the Egyptian intelligence chief and the head of the Israeli Shin Bet. Israeli Walla news website claimed that the chief of the Israeli Shin Bet made a phone call with head of the Egyptian Intelligence Services Abbas Kamal to speak about finding a solution to the crisis of Rafah border crossing. Egypt has warned against the escalation of the ongoing Israeli military ground offensive in the Palestinian City of Rafah, especially after Israeli troops controlled over the Palestine side of the Rafah border crossing. Shoukry re-warned against the dire consequences of closing the Rafah crossing and continuing the Israeli wide-range attacks.
Source:Egypt Today
May 13, 2024 21:33 UTC
President Sisi inaugurates 1st phase of harvest season of agricultural project
CAIRO – 13 May 2024: President Abdel Fattah al Sisi arrived on Monday at Dabaa Corridor to inaugurate the first phase of the harvest season of the “Future of Egypt” Project for Sustainable AgricultureThe “Future of Egypt” is considered the first venture, under the broader New Delta Project, to achieve self-sufficiency and export agricultural surplus. The project is also meant to reduce the bill of imports through securing hard currency and achieving the sustainable development goals. The ceremony started with a recitation of verses of the Holy Quran. Attending the ceremony are Prime Minister Moustafa Madbouli, Defense Minister Mohamed Zaki and a number of ministers and senior state officials.
Source:Egypt Today
May 13, 2024 15:51 UTC
Cultivation of two million acres in Delta is equivalent to size of 3 large governorates, Sisi
During his speech, Sisi said that the water Egypt receives does not increase, “so we cannot bear wasting it through any irrigation methods. He noted: “I can argue this with anyone, the private sector couldn't engage in a project of this size at a lower cost. And the effect of all the projects we built is showing positively day after another.” Sisi stressed. The “Future of Egypt” is considered the first venture, under the broader New Delta Project, to achieve self-sufficiency and export agricultural surplus. The project is also meant to reduce the bill of imports through securing hard currency and achieving the sustainable development goals.
Source:Egypt Today
May 13, 2024 12:12 UTC
Shoukry affirms mechanisms in place for Egyptian-Israeli treaty compliance
Egyptian Foreign Minister Sameh Shoukry confirmed on Sunday that there are established mechanisms to address any breaches of the peace treaty between Egypt and Israel. Shoukry advocated for the immediate reopening of the Rafah crossing to facilitate the delivery of humanitarian assistance to the encircled Palestinian populace. Slovenian Foreign Minister Fajon mirrored Shoukry’s sentiments, denouncing the employment of starvation as a method of warfare in Gaza and advocating for the establishment of humanitarian passages by Israel. The Slovenian Foreign Minister reiterated her nation’s plea for a truce and compliance with international law. She decried the recent Israeli offensives on Rafah and pressed for the recommencement of peace negotiations to avert further conflict exacerbation.
Source:Daily News Egypt
May 13, 2024 04:38 UTC
Egypt expresses solidarity with South Africa’s legal action against Israel at ICJ
Egypt has declared its support for South Africa’s legal action against Israel at the International Court of Justice (ICJ), which seeks to address alleged violations by Israel of the Genocide Convention in the Gaza Strip. The Egyptian Foreign Ministry released a statement on Sunday, detailing that this move is a response to the escalating intensity and frequency of Israeli operations targeting Palestinian civilians in Gaza. The statement highlighted the systematic nature of these actions, including the direct targeting of non-combatants and the destruction of vital infrastructure. According to the statement, such Israeli actions have forced Palestinians to flee their homes, resulting in a severe humanitarian crisis and making living conditions in Gaza untenable. Egypt is urging Israel to fulfil its responsibilities as an occupying force and to adhere to the provisional measures set forth by the International Court of Justice.
Source:Daily News Egypt
May 13, 2024 04:38 UTC
Government committed to expanding private sector participation in economy: Egypt’s PM
At the beginning of the meeting, Madbouly pointed out the important role played by the IFC as a strategic advisor to the government, providing technical advice on the state ownership policy document adopted by the Egyptian government to increase the private sector’s contribution to economic activity. Pimenta, IFC Vice President for Africa, indicated the continuation of consultations with the Egyptian team responsible for the government offerings program, where many workshops are being held that include discussions on reaching specific mechanisms regarding the sectors agreed upon. He said that the Prime Minister’s talk about supporting the private sector in Egypt confirms beyond any doubt that the Egyptian government is moving forward with determination in this path. Meanwhile, Pimenta praised the support Egypt recently received from global financial and development institutions through the conclusion of several agreements, stressing that this contributes to significantly relieving pressure and giving greater confidence in the Egyptian economy. The meeting witnessed the presence of Rania Al-Mashat, Egypt’s Minister of International Cooperation, Cheikh Oumar Sylla, IFC Regional Director for North Africa, Stéphane Gimbert, IFC Regional Director for Egypt, Yemen, and Djibouti, and several IFC representatives.
Source:Daily News Egypt
May 12, 2024 20:13 UTC
CBE lays down guidelines for banks on handling customer complaints
The Central Bank of Egypt (CBE) has released comprehensive guidelines for banks, detailing the required procedures for addressing customer complaints effectively. In its recent circular to all banks, the CBE emphasized the importance of adhering to these guidelines to safeguard customer rights. The CBE insists on banks providing adequate resources to the Customer Protection Unit and other relevant departments to ensure efficient complaint handling. In handling complaints, banks should evaluate them swiftly and equitably, adhere to the principle of good faith, and avoid requesting irrelevant documents or information. Finally, the CBE requires banks to issue a written or electronic response to customer complaints within a maximum of 15 days from receipt.
Source:Daily News Egypt
May 12, 2024 19:15 UTC
Egyptian president instantly follows developments in Gaza
CAIRO – 12 May 2024: President Abdel Fatah El-Sisi is closely following - alongside a crisis task force - the developments in Gaza Strip instantly, and he instructed the intensification of efforts necessary to inhibit more escalation in the enclave, a high-profile source told Extra News Sunday. Also, an Egyptian high-profile source negated news circulated by Israeli media on a coordination between Egypt and Israel on Rafah Border Crossing, renewing the warning about the implications of escalation on humanitarian conditions in Gaza Strip. Egypt refused to coordinate with Israel on the delivery of humanitarian aid through the Rafah border crossing, amidst an unprecedented escalation by Israel, a high-level source revealed Saturday. The source emphasized Egypt's position, holding Israel accountable for the deteriorating situation in Gaza, and warned of the consequences of Israel's ongoing takeover of the Rafah crossing. As Egypt shares a border with Gaza through the city of Rafah, it strongly condemned the recent Israeli takeover of the Rafah border crossing from the Gaza side, which has blocked the main point of aid delivery.
Source:Egypt Today
May 12, 2024 13:20 UTC
Egyptian, Chinese diplomats hold consultations on Russia-Ukraine War
CAIRO – 12 May 2024: Assistant to Foreign Minister for European Affairs Khaled Emara met with Special Representative of the Chinese Government on Eurasian Affairs Li Hui who was holding the third round of shuttle diplomacy on the political settlement of the Ukraine crisis, visiting Türkiye, Egypt, Saudi Arabia and the United Arab Emirates. The two sides exchanged views on crises taking place in Europe, the Middle East, and Southeast Asia. With regard to the Russia-Ukraine War, they conferred over its impact on international security and stability, and the necessity of achieving a political settlement through negotiations. In January, Chinese Minister of Foreign Affairs Wang Yi held a visit to Egypt and met his counterpart Sameh Shokry to discuss the Gaza War and the security threats in the Red Sea issuing a joint statement on their vision on the resolution of those crises.
Source:Egypt Today
May 12, 2024 10:35 UTC
Prime Minister embarks on inspection tour of 10th of Ramadan City factories
Prime Minister Mostafa Madbouly recently embarked on an inspection tour of various factories in 10th of Ramadan City. The tour began at the Sanipure factory, where the Prime Minister evaluated the operational processes and tackled issues directly. Founded in 2021 by a team of seasoned professionals in sanitary ware manufacturing, Sanipure is supported by Egyptian investors and stakeholders. Madbouly noted that Sanipure occupies a vast 80,000 square meter space in 10th of Ramadan City, representing an investment of around EGP 2.5bn. The Prime Minister was briefed on the furnace operations, preparation, and quality control measures.
Source:Daily News Egypt
May 12, 2024 03:00 UTC
President Al-Sisi hosts leader of Indian Bohra community
Egypt’s President Abdel Fattah Al-Sisi has welcomed the leader of the Indian Bohra Community, His Holiness Sultan Mufaddal Saifuddin. The assembly was attended by Abbas Kamel, the Director of the General Intelligence Service, and Mufaddal Mohammed, the Bohra Community’s representative in Egypt. The President’s spokesperson, Ahmed Fahmy, conveyed that President Al-Sisi expressed a warm welcome to Sultan Mufaddal Saifuddin. Sultan Saifuddin reciprocated with profound gratitude towards President Al-Sisi and extolled Egypt’s strides in national development. Furthermore, he applauded the government and President Al-Sisi for their dedication to fostering the ideals of unity and acceptance, thereby strengthening societal harmony and tranquillity.
Source:Daily News Egypt
May 12, 2024 01:20 UTC
Hamas announces death of British captive in Gaza following Israeli airstrike
On October 7, Hamas captured over 250 individuals from Israel and brought them to the Gaza Strip. Last week, Hamas approved a ceasefire proposal put forward by Egypt and Qatar, which included a prisoner exchange. The latest round of talks in Cairo, which involved mediators from Egypt, Qatar, the United States, Israel, and Hamas, concluded last week without reaching a deal. The key points of contention between Hamas and Israel persist, with Hamas insisting on a permanent cessation of hostilities, while Israel rejects this demand. The Israeli government instead seeks a period of truce that includes the release of its surviving hostages from Gaza, without signifying an end to the conflict with Hamas.
Source:Egypt Today
May 11, 2024 23:01 UTC
African leaders pledge to increase local fertiliser production
At present, the reliance of many African nations on imported fertilisers, particularly those not based on phosphates, leaves them vulnerable to international market fluctuations and pricing instability. Despite African nations currently producing around 30 million metric tons of mineral fertiliser annually, a substantial portion is exported beyond the continent’s borders. During the summit, the African leaders vowed to utilize the African Continental Free Trade Area (AfCFTA) to amplify intra-African fertiliser trade twofold by 2034. Chiumya underscored that while the AfCFTA and other supportive policies are instrumental in promoting fertiliser trade within Africa, the pressing matter of infrastructure remains. Moreover, there has been a marked increase in local mineral fertiliser production, fueled by private sector investments surpassing $15bn, as detailed in the declaration.
Source:Daily News Egypt
May 11, 2024 17:20 UTC