CBE, EU open 9th steering committee meeting of capacity-building initiative for African central banks
Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), and Angelina Eichhorst, European Union (EU) Ambassador to Egypt and the League of Arab States, inaugurated the 9th Steering Committee Meeting of the EU-funded regional initiative to support African central banks through capacity building, titled “Strengthening Financial Stability, Resilience, and Governance – Towards an Enhanced European System of Central Banks (ESCB) Dialogue with Africa”. The meeting was hosted at the CBE’s headquarters on Tuesday, 20 January 2026, with the participation of representatives from a number of European and African central banks. On this occasion, CBE Governor Hassan Abdalla said that since the programme’s launch in December 2023, it has demonstrated the importance of peer-to-peer cooperation between African and European central banks. He noted that the initiative has delivered tangible benefits for African central banks, including capacity development, knowledge exchange, and support for reform efforts to address global economic challenges. The programme benefits a number of African central banks, including the Central Bank of Egypt, the National Bank of Angola, the Central Bank of West African States (BCEAO), the Bank of Central African States (BEAC), the Bank of Ghana, the Central Bank of Kenya, Bank Al-Maghrib, the Bank of Mozambique, the Bank of Namibia, the South African Reserve Bank, the Bank of Tanzania, and the Central Bank of Tunisia, covering a total of 24 African countries.
Source:Daily News Egypt
January 21, 2026 17:07 UTC
Suez Canal revenue rises 18.5% as shipping lines signal return to Red Sea Daily News Egypt
Suez Canal revenue increased by 18.5% in the first half of the fiscal year (FY) 2025/26, Chairperson Osama Rabie said on Wednesday, as he declared conditions ready for the full return of global shipping lines to the waterway. “The circumstances are now strongly prepared for the return of all shipping lines,” Rabie said, describing the canal as the most sustainable route for global trade between East and West. Ahmed Mekkawi, representing Gulf Agency Company (GAC), reported increased inquiries from owners and charterers of Liquefied Natural Gas (LNG) vessels regarding Suez Canal transits. Meanwhile, Hany el-Salamouny of COSCO stated that global shipping lines recognise there is no sustainable alternative to the Suez Canal, given the high costs associated with the Cape of Good Hope route. Deputy Chairman Admiral Ashraf Atwa emphasised that the return of shipping lines is an “urgent necessity” to ensure the efficiency of global supply chains.
Source:Daily News Egypt
January 21, 2026 16:52 UTC
Al-Sisi invites global CEOs to invest in Egypt as economic indicators improve
Hoffmann stated that the meeting reflected Egypt’s international standing and aimed to showcase Sisi’s vision for private sector involvement in the state’s comprehensive development plans. Sisi outlined a strategy focused on expanding the private sector’s role, including the implementation of the State Ownership Policy document and an initial public offering (IPO) programme. These measures, along with a ceiling on public investment, have led to an increase in the private sector’s share of total investment in Egypt, El-Shennawy said. Regarding macroeconomic performance, Al-Sisi noted that Egypt’s economic programme, conducted in cooperation with international financial institutions led by the International Monetary Fund (IMF), has resulted in improved indicators. In a separate meeting, Al-Sisi held talks with WEF President and Chief Executive Børge Brende to discuss global challenges and development.
Source:Daily News Egypt
January 21, 2026 16:05 UTC
Egypt’s current account deficit narrows 45.2% on surging remittances and tourism
Egypt’s current account deficit narrowed by 45.2% to $3.2bn during the first quarter of the fiscal year (FY) 2025/26, supported by a significant surge in remittances and growth in the services sector. Gains in the current account were partially offset by a wider oil trade deficit, which grew by $946.6m to reach $5.2bn. The capital and financial account recorded a net outflow of $366.4m, a reversal from the $3.8bn net inflow seen in the prior year. Portfolio investment in Egypt saw a net inflow of $1.8bn, compared to a net outflow of $384.7m a year earlier. Despite the narrowing current account deficit, the overall balance of payments (BoP) recorded a deficit of $1.6bn for the quarter, compared to a deficit of $991.2m in the same period of the previous financial year.
Source:Daily News Egypt
January 21, 2026 16:05 UTC
Daltex Group launches ORTH smart farming assistant in Egypt at Agri Expo 2026
Daltex Group, a provider of integrated agricultural solutions, participated in Agri Expo 2026, reaffirming its commitment to introducing advanced technologies and modern farming practices to support Egyptian farmers, boost productivity, and improve crop quality. The group said its participation aimed to spotlight a range of new initiatives and products that position Egypt among the countries benefiting from the latest global agricultural innovations. A key highlight of Daltex Group’s participation was the launch of ORTH, a smart farming assistant introduced in Egypt for the first time. As part of its efforts to improve customer experience in the Egyptian agricultural market, Daltex Group also announced the second rollout of its customer loyalty points programme. As part of its Agri Expo 2026 participation, Daltex Group also announced the availability of certified citrus seedlings within its integrated solutions offering.
Source:Daily News Egypt
January 21, 2026 15:36 UTC
Egypt to fast-track state divestment and private sector role, Al-Sisi tells Davos
“Egypt has prioritised strengthening the role of the private sector as a principal and indispensable partner in the journey of growth and economic development,” Al-Sisi said. He detailed a strategy involving a cap on government investments and a “well-studied plan” for the state to exit specific sectors to allow for private expansion. He cited rising growth rates, increased private investment flows, and recent credit rating upgrades as evidence of restored investor confidence. He urged attendees to utilise Egypt’s modernised infrastructure—encompassing roads, ports, and digital networks—alongside strategic hubs like the Suez Canal Economic Zone to facilitate regional and international expansion. During an interactive dialogue following his speech, Al-Sisi also touched on the geopolitical environment, stressing that regional stability is a prerequisite for economic prosperity.
Source:Daily News Egypt
January 21, 2026 14:43 UTC
The Strategic Evolution of Egypt’s Personal-Care Manufacturing - Dailynewsegypt
After more than two decades leading manufacturing and consumer-goods operations across international markets, my outlook on Egypt’s personal-care sector remains resolutely optimistic. Success now hinges on the ability to transform local manufacturing platforms into resilient, export-driven ecosystems that are robust enough to withstand inflationary pressures, navigate supply-chain volatility, and adapt to the rapid shifts in consumer demand. As a certified ICF executive coach and an endurance athlete, I view industrial transformation as a marathon rather than a sprint. As Egypt’s manufacturing sector continues to mature, my focus remains steadfast on scaling globally competitive platforms and fostering the next generation of leadership. Mohamed R. El-Demerdash is a multinational operations executive with more than 21 years of leadership experience, widely recognized for transforming complex manufacturing platforms.
Source:Daily News Egypt
January 21, 2026 14:04 UTC
Trump’s America and the Global Monroe Doctrine: When Power Becomes Policy - Dailynewsegypt
Two centuries later, the Monroe Doctrine has outgrown geography. Historically, Washington intervened in Latin America under the guise of shielding it from rival powers. History in Latin America repeats itself in a new tongue, with sharper instruments. The Monroe Doctrine is alive here too. A few dare to beat the drums of resistance, however faintly—much like countries in the Global South once did, defying the original Monroe Doctrine.
Source:Daily News Egypt
January 21, 2026 14:04 UTC
Samara, Raya Holding launch electric golf cart assembly project in Saudi Arabia
Samara Land Transportation Services Co., a subsidiary of Alturki Holding, announced on Tuesday the launch of an electric golf cart assembly manufacturing project in Saudi Arabia through a newly established joint venture with Raya Holding. The initiative comes in response to growing demand for efficient and sustainable mobility solutions across large-scale projects in Saudi Arabia. Commenting on the partnership, Bader AlShathry, Chairperson of Samara Land Transportation Services Company in Saudi Arabia, said the joint venture marks a step toward establishing a “Saudi-assembled” standard for electric mobility. Meanwhile, Mohamed El-Naggar, CEO of Raya Auto, said the joint venture builds on Raya Auto’s proven track record in Egypt’s electric mobility sector, where it has developed integrated solutions across electric golf carts, e-buses, and electric vehicles. He noted that the same comprehensive model—covering manufacturing, distribution, and after-sales services—will be applied in Saudi Arabia to ensure operational excellence and market leadership.
Source:Daily News Egypt
January 21, 2026 11:54 UTC
Will Smith shares snapshots from his weekend in Egypt
International celebrity star Will Smith shared a collection of photos and videos from his weekend getaway in Egypt. Smith toured the Pyramids and the Sphinx and shared his experience exploring the Great Pyramid from the inside. He posted the photos and videos on his Instagram account, captioned: “Weekend in Egypt.”Smith was received by the Secretary General of the Supreme Council of Antiquities, Mohamed Ismail Khaled. Khaled welcomed Smith and briefed him on the most important secrets and artifacts held at this historical site, reflecting the grandeur of ancient Egyptian civilization, in addition to highlighting the most significant archaeological discoveries in the country. Smith expressed great interest in these historical and archaeological facts and promised the Secretary General that he would return to Egypt again in the spring with his family.
Source:Egypt Independent
January 21, 2026 10:03 UTC
Trump says US funded Ethiopia's dam on the Nile River
US President Donald Trump said that Ethiopia built a dam on the Nile River funded by the US, adding that he doesn’t know why his country did so. Trump confirmed that he intervened in the Ethiopian dam crisis to help resolve it, according to AlQahera News Channel. Trump said that “the interim president of Venezuela has done a fantastic job. I currently like Venezuela, and they are working very well with us. The interim president is excellent.
Source:Egypt Independent
January 21, 2026 10:03 UTC
Davos is confronting two problems. Trump might be the easier one
New York —The annual World Economic Forum confab known as Davos has always had an optics problem. But Davos 2026 has morphed into a kind of emergency session of the world’s elite to confront two simultaneous, ultimately related threats. If the Davos crowd seemed out of touch before the pandemic, the affordability crisis that helped re-elect Trump has only sharpened the contrast between the people at Davos and everyone else. Davos is an elite gathering trying to shape a world that belongs to everyone.”In classic Davos form, Fink is stating the obvious as if it’s revelatory. “Davos has been wrong, consistently, about where the world is heading,” wrote Semafor senior business editor Liz Hoffman on Tuesday.
Source:Egypt Independent
January 21, 2026 10:03 UTC
Salah participates in Olympique Marseille match after AFCON campaign
Liverpool FC winger Mohamed Salah is preparing to face Olympique Marseille in the seventh round of the Champions League group stage on Wednesday evening. Salah underwent medical examination at AXA training center on Tuesday morning before joining his teammates for their final training session before traveling to France. He participated in the open training session in preparation for the match, following his return from the Africa Cup of Nations. Slot discusses Salah’s returnLiverpool FC manager Arne Slot commented on Salah’s return to the team after his absence due to representing Egypt at Africa Cup of Nations. The number of chances we created against Burnley when Salah was on the pitch usually meant more goals.”“I’m happy he’s back.
Source:Egypt Independent
January 21, 2026 10:03 UTC
UNRWA warns that Israel’s raid on the agency undermines its work
The spokesperson for the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), Adnan Abu-Hasna, condemned Israel’s raid on the agency’s headquarters in East Jerusalem, calling it “a real wake-up call for the entire international community.”He emphasized that this represents a dangerous defiance of international law. He added that the raid on the UNRWA headquarters is part of a broader context of measures taken by the Israeli authorities in recent months, aimed at undermining the agency’s work and erasing the identity of Palestinian refugees, particularly in East Jerusalem. This systematic policy targets the UN and humanitarian presence in the occupied territories, Abu-Hasna said. “This would almost completely disrupt its ability to continue providing vital services to hundreds of thousands of Palestinian refugees”, Abu-Hasna warned. UNRWA slams Israel’s actionsThe Commissioner-General of UNRWA, Philippe Lazzarini, condemned Israel’s demolition of UNRWA buildings in the Sheikh Jarrah neighborhood of Jerusalem, calling it an “unprecedented challenge” and emphasizing that Israel is obligated to protect and respect the inviolability of UN premises.
Source:Egypt Independent
January 21, 2026 08:41 UTC
State adopts modern approach to asset management: El-Khatib
Minister of Investment and Foreign Trade Hassan El-Khatib said the state has adopted a modern approach to managing its assets, based on comprehensive re-planning and improving efficiency of use to maximise economic returns and generate sustainable added value. During the interview, he outlined the state’s economic reform programme, which focuses on maximising the efficiency of state-owned assets, accelerating the transition to a green economy, and expanding private sector participation. He noted that the project now operates at quality and performance levels exceeding international standards, demonstrating how asset reconfiguration can unlock significant economic value. He explained that the Western Desert alone has the potential to generate around 700 gigawatts, in addition to approximately 200 gigawatts from floating solar energy. On subsidy reform, the minister said Egypt has made substantial progress in restructuring energy pricing—particularly natural gas—through the adoption of cost-reflective pricing mechanisms.
Source:Daily News Egypt
January 20, 2026 19:58 UTC