Shoukry, Blinken discuss situation in Gaza Strip
Egyptian Foreign Minister Sameh Shoukry received a phone call from the Secretary of State of the US Anthony Blinken, on Friday evening, as part of follow-up consultations between Cairo and Washington regarding developments in the Gaza Strip. Abu-Zeid said that the US Secretary of State expressed his nation’s full appreciation for Egypt’s efforts to mediate between Israel and Hamas, and its continued work to deliver humanitarian aid to Gaza Strip. He added that Shoukry listened to a briefing from his US counterpart regarding America’s decision to deliver aid to the Gaza Strip via a sea corridor. Shoukry stressed the need to intensify all efforts to reach a comprehensive ceasefire as it is the ultimate goal on which international efforts must be focused to stop the blood of Palestinian civilians. The two ministers agreed to continue coordination and consultation and to keep communication channels open during the coming days to support mediation efforts and facilitate the entry of humanitarian aid into the Gaza Strip.
Source:Egypt Independent
March 09, 2024 21:29 UTC
Egypt to host a new round of talks on Gaza ceasefire
Palestinians in Gaza Strip carry body of one of martyrs killed by Israeli occupation bombing on the Strip- Photo via Palestinian Journalist from Gaza Hani El ShaerCAIRO – 9 March 2024: Cairo, on Sunday, will host a new round of quartet negotiations to reach a ceasefire in the Gaza Strip and put an end to the Israeli ongoing attacks on the Palestinians in the Gaza Strip. The negotiations also aim at putting an end the Israeli aggression on the Gaza Strip, ensuring return of the displaced Palestinians to their homes, and bringing humanitarian aid into the besieged strip. The mediators are urging for an immediate ceasefire to facilitate increased aid delivery to the war-torn Gaza Strip and enable a prisoner swap deal. Israel has killed 30,878 Palestinian people and injured 72,402 others since October 7, 2023, announced the Palestinian Ministry in the Gaza Strip on Friday. The northern part of the besieged strip is being systematically starved by Israeli forces amid ongoing shelling and sniping of Palestinians.
Source:Egypt Today
March 09, 2024 18:51 UTC
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Source:Daily News Egypt
March 09, 2024 17:41 UTC
Sisi: History will hail Egyptians' achievement to save their country from terrorism
During his speech, President Sisi said that thanks to the sacrifices of martyrs, Egypt managed to enjoy peace and security despite unstable regional conditions. Sisi noted that Egypt waged a 10-year war against terrorism and confronted extremist thought that aimed at subverting the state. President Sisi said that his promises to the Egyptians did not change, adding that with work and patience the country can overcome the current circumstances. "Today, I speak to you on the anniversary of “Martyr’s Day”; the day of the heroes, who rose from the soil of this blessed land. President Sisi pointed out to the challenges Egypt witnessed in the past ten years, adding that he was sure that the problem would be solved.
Source:Egypt Today
March 09, 2024 13:58 UTC
I'll be easier to replace than Guardiola, says Klopp
(Reuters) - Replacing manager Pep Guardiola at Manchester City will be a near impossible job compared to getting a new coach at Liverpool at season's end, Juergen Klopp, manager of the latter, said ahead of Sunday's match against title rivals City. "Go (in) at City after Pep Guardiola and you need to be champion ten years in a row to achieve the same." "Maybe it was good for that reason that we didn't become champion with 97 points," Klopp said. "In those years (losing to City) with one point behind everybody knows on one specific moment it could have been different. "The outside world obviously sees it completely differently – you win it or you don't win it."
Source:Egypt Today
March 09, 2024 13:05 UTC
Egypt commits to strengthening credit rating after Moody's positive outlook revision
The announcement follows Moody's positive revision of Egypt's outlook from negative to positive. Maait believes that this shift in outlook reflects the confidence in Egypt's macroeconomic management during a challenging period and the effectiveness of the policies implemented to withstand various shocks over the past years. The positive outlook is attributed to key economic policy shifts, including currency devaluation and interest rate increases. If sustained, this is anticipated to support macroeconomic rebalancing, enhance the resilience of Egypt's economy to shocks, and assist in sustaining an expanded International Monetary Fund (IMF) program. While the report acknowledges Egypt's high debt ratio and weak debt affordability compared to peers, it anticipates gradual improvement over time, reducing fiscal accounts' vulnerability to shocks.
Source:Egypt Today
March 09, 2024 05:03 UTC
President El-Sisi Performs Friday Prayer at El-Mosheer Tantawy Mosque on Occasion of Martyr's Day
CAIRO – March 8, 2024: President Abdel Fattah El Sisi attended Friday prayers at the Field Marshal Tantawi Mosque in the Fifth Settlement district of New Cairo, coinciding with the anniversary of "Martyr's Day." Upon his arrival, the president was greeted by Prime Minister Moustafa Madbouli, Minister of Defense and Military Production Mohamed Zaki, Al Azhar Grand Imam Ahmed el Tayyeb, and Awqaf Minister Mohamed Mokhtar Gomaa. Each year, Egypt and the Armed Forces observe Veteran Warrior and Martyr's Day on March 9th, commemorating the sacrifice of former army chief of staff, Lieutenant General Abdel-Moneim Riad, who gave his life in defense of the homeland on the same day in 1969, Egypt’s news agency MENA reported.
Source:Egypt Today
March 08, 2024 17:13 UTC
Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. “Our data shows that 61% of these (anchored) after 13:30 UTC (18:30 ET), which was the time of the attack,” Windward CEO Ami Daniel told CNN. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Shipping through the Suez Canal dropped after Houthi attacksContainer shipping companies have been avoiding the Red Sea and the Suez Canal as Houthi militants in Yemen escalate attacks on commercial vessels.
Source:Egypt Independent
March 08, 2024 11:30 UTC
Talks for Gaza ceasefire at a standstill, no deal likely by Ramadan
The Biden administration insists Israel has already accepted the broad terms of a six-week pause while Hamas is holding out. A Hamas delegation left Cairo on Thursday after days of talks with no obvious breakthrough in negotiations aimed at reaching a ceasefire in exchange for hostage releases. “It’s in the hands of Hamas right now,” Biden told reporters on Tuesday as he boarded Air Force One. The Biden administration has escalated its criticism of Israel’s refusal to open more border crossings to allow aid into Gaza, particularly to address needs in the north. In their meeting, Blinken acknowledged that the pause and hostage deal is unlikely before the start of Ramadan, said a person familiar with the meeting.
Source:Egypt Independent
March 07, 2024 20:39 UTC
Tanmiya Capital Ventures to launch second fund targeting medium-sized enterprises
Tanmiya Capital Ventures, a leading investment firm in Egypt, is preparing to launch its second fund, “TCVII,” with a target size of up to $100m. The fund will focus on investing in medium-sized enterprises with high growth potential. He added that the company’s recent exit from its stake in Abu Auf Food Company, a leading producer and seller of coffee and snack products, was motivated by its intention to launch the second fund. Agthia Group acquired 60% of Abu Auf Group in 2022, expanding its presence in the Egyptian market. Abu Auf Group was founded in 2010 and operates in six business segments: coffee, nuts, kitchen essentials, dates, dried fruits, sweets, and biscuits.
Source:Daily News Egypt
March 07, 2024 20:00 UTC
18 EgyptAir employees detained for trading company funds in parallel market
CAIRO – 7 March 2024: Egypt's Public Prosecution has detained 18 individuals responsible for EgyptAir's treasury on allegations of illegally trading nearly $1 million of the company's funds in the parallel market. They sold the money on the parallel market, and then deposited the proceeds in the treasury in local currency, profiting from the difference between the official exchange rate and the parallel market rate. Prosecutor-General Mohamed Shawki ordered the detention of the employees pending further investigation following the discovery of sums of foreign currency in their possession. In recent months, the Ministry of Interior has intensified its crackdown on illegal foreign currency trading. He further highlighted that eliminating the parallel market will help mitigate inflation.
Source:Egypt Today
March 07, 2024 14:44 UTC
Stabilizing after the float, LE stands firm at under LE 50 against USD
Prior to the currency adjustment on Wednesday, the LE spent nearly a year at LE 30 against the USD. State-owned National Bank of Egypt (NBE) maintained the dollar's purchasing and selling price at LE 49.5 and a selling rate of LE 49.6, with Banque Misr recording a buying rate of LE 49.5 and a selling rate of LE 49.6, a slight decrease from Wednesday's peak numbers of LE 50 and LE 51, respectively. The buying rate at the Commercial International Bank (CIB) settled at LE 49.5, while the selling rate dipped to LE 49.6, marking a notable decline from Wednesday's rates of LE 50.3 and LE 50.4. ALEXBANK adjusted its rates to LE 49.4 for buying and LE 49.5 for selling, down from LE 50 and LE 50.10 on Wednesday. Abdallah said that Egyptian interest rates, long amongst the highest globally, would now be on a "downward track."
Source:Egypt Today
March 07, 2024 13:30 UTC
Hamas delegation leaves Cairo, negotiations for ceasefire to continue
Israeli airstrikes in the central province resulted in casualties and injuries, targeting homes belonging to the Sunwar, Abu Malal, and Shabrawi families in the Nuseirat camp. Israeli forces prevent ambulances from reaching the wounded, besieging Gaza hospitals and disrupting services by restricting fuel supplies. The spokesperson for Al-Aqsa Martyrs Hospital announced an increase in casualties from Israeli airstrikes to 45 martyrs and 90 wounded, most of whom are women and children. The Palestinian Red Crescent transported numerous wounded individuals following airstrikes targeting a house in the Nuseirat camp. Israeli warplanes also bombed agricultural land near the entrance to al-Zawayda in central Gaza.
Source:Egypt Today
March 07, 2024 11:19 UTC
Prime Minister Madbouly oversees customs release of goods from Alexandria Port
CAIRO - 6 March 2024: Prime Minister Mostafa Madbouly will be supervising the release of goods from the port of Alexandria. The Prime Minister's tour will focus on monitoring the progress of multiple release operations involving a variety of goods, including food commodities, feed, medicines, and production requirements. In February, Prime Minister Madbouly issued a directive to gradually release goods from customs, with priority given to food commodities, medicines, and feed. During a recent meeting, Al Hommosani presented reports detailing the current stock of food commodities, medicines, and fodder in customs, which amounted to approximately $1.3 billion. The Prime Minister's hands-on approach in supervising the release of goods from the port of Alexandria underscores the government's commitment to ensuring the timely provision of essential commodities to the Egyptian people.
Source:Egypt Today
March 07, 2024 07:04 UTC
The risks associated with a militarized Red Sea - Dailynewsegypt
The recent “tanker war” in the Red Sea echoes a similar conflict from the mid-1980s, during the Iran-Iraq War (1980-1988). Now, nearly four decades later, history is repeating itself with Iran’s “Houthi” militias attacking tankers in the Red Sea. The Western military footprint in the Red Sea is longstanding but has recently been legitimized by survival concerns. This initiative includes strategic projects along the Red Sea, such as the NEOM city and the endeavors of the Red Sea International company, owned by the Public Investment Fund. In conclusion, the growing militarization of the Red Sea and the intensification of conflicts in and around it have widespread and potentially far-reaching consequences.
Source:Daily News Egypt
March 07, 2024 05:33 UTC