25% saving certificates to be suspended by end of January
CAIRO -16 January 2023: The issuance of Talaat Harb certificates with an annual return of 25 percent will be suspended at the end of January after the desired goal is achieved, Chairman of Banque Misr, Mohamed El-Etreby, said. On January 4, Banque Misr and the National Bank of Egypt (NBE) announced the launch of a one-year saving certificate with an annual interest of about 25 percent, which will be spent at the end of the period, or an interest of 22.5 percent, which will be spent monthly. El-Etreby affirmed that the NBE and Banque Misr’s resort to offering this certificate aims to address inflation and attract foreign exchange, within the framework of the role played by the two banks as the two largest government banks in the market. Officials at both banks estimated the proceeds of that certificate at about LE 274 billion since it was issued until the beginning of this week.
Source:Egypt Today
January 16, 2023 11:04 UTC
Battle for Soledar continues “without any respite, without any stop,” Zelensky says
The fight for the embattled eastern town of Soledar is ongoing, Ukrainian President Volodymyr Zelensky said in his nightly address Sunday. “The battle for Soledar, for Bakhmut, for the whole Donetsk region, for the Luhansk region continues without any respite, without any stop,” Zelensky said, referring to eastern territories that have seen some of the conflict’s fiercest fighting. Russia claims its forces have taken Soledar after weeks of brutal clashes, which Kyiv has denied. The leader of the Wagner mercenary group has taken credit for the bulk of the fighting on Moscow’s side and also claimed victory there. Ukrainian authorities reported “heavy battles” were ongoing in the town Saturday.
Source:Egypt Independent
January 16, 2023 08:18 UTC
Egypt signed of 17 collective bargaining agreements in 2022: Ministry
CAIRO- 15 January 2023: To achieve the principle of strengthening the workforce, the Egyptian government has signed a total of 17 agreements of collective bargaining [the right to negotiate work relations effectively in accordance with the definition of the International Labor Organization] since the beginning of 2022, according to the Ministry of Manpower. The General Administration for Settlement of Collective Labor Disputes at the Ministry have succeeded, since the beginning of 2022, to reach 17 collective labor agreements that achieve better terms and conditions for workers in accordance with the provisions of Labor Law No. A total of 25,685 workers have benefited from these agreements in various sectors like tourism and hotels, food and chemical industries, construction and wood industries, maritime transport, banking and insurance. The Manpower Committee in the House of Representatives, headed by Representative Adel Abdel Fadil Ayyad, approved, during its meeting last Monday evening, the draft labor law submitted by the government, so that this would be the first meeting to discuss the draft law submitted by the government to issue the labor law, after the committee held hearings. The new draft law addresses the shortcomings contained in the current Labor Law promulgated by Law No.
Source:Egypt Today
January 15, 2023 16:29 UTC
Egypt seeks to finalize agreements on funds directed to “NWFE” Program
Minister of International Cooperation Rania al-Mashat said Egypt is looking forward to finalize agreements on funds allocated for “NWFE” Program for linking water, food and energy sectors that are worth of dlrs 14.7 bn before the 28th session of the Conference of the Parties (COP28) to the UNFCCC that will convene in Dubai from Nov. 30 to Dec. 12. According to Mashat, financing sources would include the State General Budget and the private sector, in addition to easy financing through development companies. The minister noted that “NWFE” Program funds increased during the COP27, that was held in the Red Sea resort city of Sharm el-Sheikh in Nov. 2022 to reach dlrs 10.3 bn. Egypt launched the “NWFE ” Program to attract funds and investments for a list of green projects in the water, food and energy sectors. “NWFE ” Program total investments include dlrs 10 bn for the energy sector, drls 1.35 bn for the water sector and dlrs 3.35 dlrs for the agriculture and food security sectors, Mashat said.
Source:Egypt Independent
January 15, 2023 16:18 UTC
Upper Egyptian village hailed as ‘free of violence against women’
The Equal Opportunities Unit of the Department of Women, Motherhood and Childhood in Minya Governorate, Upper Egypt, organized an awareness seminar on “Women’s Economic Empowerment”, in the village of Abyouha, in Abu Qurqas City, which was named as free of violence against women. The seminar came as part of the “Safe Village Free of Violence against Women” initiative, as part of the “Decent Life” presidential initiative. The Director of the Equal Opportunities Unit in the governorate Fatima al-Zahraa explained the criteria for selecting the village of Abyouha as a safe village free of violence against women. The percentage of women in the village is 47 percent, she explained, adding that the main objective of the Equal Opportunities Unit is to provide services to women and children in all aspects. The seminar also explained the training courses on entrepreneurship for women within the village for economic empowerment and their ability to succeed and advance economically.
Source:Egypt Independent
January 15, 2023 14:44 UTC
Ukraine Army eliminates about 115,290 enemy troops
KIEV, Jan 15 (MENA) - Russia has already lost about 115,290 troops in Ukraine (630 over the past day). The relevant statement was made by the General Staff of the Armed Forces of Ukraine on Facebook, an Ukrinform correspondent reports. Between February 24, 2022 and January 14, 2023, the enemy’s total combat losses included also 3,106 tanks (+2 over the past day), 6,183 armored fighting vehicles (+10), 2,094 artillery systems (+4), 437 multiple launch rocket systems, 219 anti-aircraft warfare systems, 286 aircraft, 276 helicopters, 4,846 motor vehicles and fuel tanks, 17 warships/boats, 1,872 unmanned aerial vehicles (+5), 187 special equipment units (+1). A total of 749 enemy cruise missiles (+26) were shot down.
Source:Egypt Today
January 15, 2023 12:00 UTC
Early Martinez goal gives Inter 1-0 win over Verona
(Reuters) – Fourth-placed Inter Milan secured a 1-0 home win over strugglers Hellas Verona thanks to an early goal from striker Lautaro Martinez in a Serie A game with few chances on Saturday. Substitute Kristjan Asllani came close to scoring a second goal for Inter in the closing stages but his shot from outside the box curled just outside the post. Verona tried to put some pressure on Inter in the final minutes of the game as they desperately searched for an equaliser but they failed to create any clear chances. The result left Inter level on 37 points with third-placed Juventus and 10 behind leaders Napoli after 18 games. Verona are second-bottom with nine points, six adrift of the safety zone.
Source:Egypt Today
January 15, 2023 08:29 UTC
Iran executes dual British-Iranian citizen Alireza Akbari
Alireza Akbari, a dual British-Iranian citizen and former Iranian official, has been executed, the Iranian judiciary-affiliated outlet Mizan reported on Saturday. He was hanged for crimes including “corruption on earth,” according to tweets from Mizan, which did not specify when the execution took place. “I am appalled by the execution of British-Iranian citizen Alireza Akbari in Iran,” Sunak wrote on Twitter. “The execution of British-Iranian Alireza Akbari is a barbaric act that deserves condemnation in the strongest possible terms. Through this politically motivated act, the Iranian regime has once again shown its callous disregard for human life.”The UK government had urged Iran not to execute Akbari.
Source:Egypt Independent
January 14, 2023 21:55 UTC
Wolves sign Gabon international midfielder Lemina
(Reuters) - Wolverhampton Wanderers have signed Gabonese midfielder Mario Lemina from Nice on a contract until 2025, the Premier League club said on Friday. "The transfer includes a further 12-month option and comes after Lemina spent the first half of the campaign playing regularly for Ligue 1 side Nice," Wolves said in a statement. Wolves coach Julen Lopetegui told reporters earlier on Friday: "Mario is a good player. "He knows the English league and has the profile to be a good player for us ... Wolves are 19th in the Premier League and host West Ham on Saturday.
Source:Egypt Today
January 14, 2023 21:41 UTC
Egypt to adopt LE 150B initiative to back production sectors, cut loans’ interests
CAIRO - 14 January 2023: Egypt will adopt a five-year initiative worth LE 150 billion to support the agricultural and industrial production sectors, especially by reducing their loans’ interests, in the face of the repercussions of the global crises, the Cabinet has announced. The initiative will come into effect after the cabinet’s approval this week, the Cabinet said in a statement on Wednesday. Mohamed El-Sewedy, head of the Federation of Egyptian Industries (FEI), affirmed that the initiative will suit the largest segment of manufacturers and farmers. Madbouly stressed that initiative will be implemented as soon as it is approved by the Cabinet during this week meeting. This includes more than $613 million worth of goods required for industrial purposes, including food products, primary industrial supplies, and spare parts, the statement said.
Source:Egypt Today
January 14, 2023 17:32 UTC
Photos: Arish Port development plan to be concluded in 2024: Egypt’s SCZone
CAIRO – 14 January 2023: The Suez Canal Economic Zone (SCZone) announced on Saturday that the development plan of Al-Arish Port in northeastern Egypt will be concluded in 2024. The port is being developed in cooperation with the Armed Forces’ Engineering Authority, the Suez Canal Authority (SCA), and national contracting companies, including Arab Contractors and El-Gharably, Gamal El-Din said. Development of the port will help it become able to receive modern ships with huge payloads, Gamal El-Din said. Madbouly stressed the great strategic importance of Al-Arish Port given its unique location on the Mediterranean Sea and its position as part of the SCZone. The state is keen on reopening the port after its renovation in order to enhance the economic development in Egypt, especially in North Sinai, said North Sinai Governor Mohamed Abdel Fadeel Shousha during the visit.
Source:Egypt Today
January 14, 2023 14:04 UTC
Ministry: 136,000 quintals of cotton sold in 7 governorates
The Ministry of Public Business Sector announced that some 136,000 quintals of cotton were sold in auctions held on Thursday. In a statement released on Friday, the ministry said those actions were conducted in the governorates of Beheira, Kafr El-Sheikh, Sharqia, Gharbia, Dakahlia, Menoufia and Ismailia. The highest selling price per quintal was EGP 7,785 in Kafr El-Sheikh governorate. The new system guarantees fair prices for farmers, as cotton selling is implemented through auction, and the pricing policy is in line with global cotton prices.
Source:Egypt Independent
January 14, 2023 10:47 UTC
Handball: Egypt starts World Championship with a dominant win
CAIRO -14 January 2023: The Pharaohs sent a strong message to all the participating teams in the 2023 IHF World Men's Handball Championship after having a fantastic start to the competition on Thursday night. Egypt defeated Croatia 31-22 in their first game in the competition to take a steady step towards securing the top of the group after defeating the toughest opponent in the group. Ali Zein put on a spectacular performance in the game that earned him the Man of the Match award. Egypt plays in Group G alongside Croatia, Morocco and the USA. The Pharaohs will face Morocco in the next match before finishing the group stage against the USA, who achieved their first ever win in the competition on Friday against Morocco.
Source:Egypt Today
January 14, 2023 01:32 UTC
Dybala sends Roma through to Coppa Italia quarters
(Reuters) - A second-half strike by forward Paulo Dybala secured AS Roma a 1-0 win over Genoa in the Coppa Italia last 16 on Thursday and kept the capital club on course to win the competition for the 10th time. Substitute Dybala put Roma ahead in the 64th minute, the Argentine sending a powerful shot from a tight angle inside the far post after replacing midfielder Lorenzo Pellegrini at halftime. Earlier on Thursday, Fiorentina advanced to the quarter-finals with a 1-0 win over Sampdoria. Serie A leaders Napoli host bottom-placed Cremonese on Tuesday. Atalanta, Lazio and Juventus play their last-16 ties next Thursday.
Source:Egypt Today
January 13, 2023 23:52 UTC
Egypt, WHO representative discuss ways of cooperation in mRNA technology in medicine production
The move comes in the framework of combating black market activities in medicines – Image courtesy of PixabayCAIRO – 13 January 2023: Egyptian Minister of Health Khaled Abdel Ghaffar and the World Health Organization (WHO) Representative in Egypt Naeema Al-Jasseer discussed ways of cooperation in developing the drug and vaccine production system with the WHO and other international companies. The meeting discussed work on transferring expertise and advanced manufacturing of mRNA technology in the production of medicines, especially for the treatment of chronic diseases, as well as vaccines and serums, Abdel Ghaffar said in a statement on Thursday. In February 2022, World Health Organization Director-General Tedros Adhanom Ghebreyesus announced that six African countries including Egyptian Tunisia would receive “mRNA” technology to produce vaccines against the Coronavirus locally. At the European Union - African Union summit in Brussels, Tedros Adhanom announced the first African six countries that would receive this technology. President Sisi’s appreciation was voiced in his speech at the WHO Session on Vaccine Technology and Health Systems, on the sidelines of the EU-AU summit in Brussels in February.
Source:Egypt Today
January 13, 2023 23:46 UTC