Egypt to Aims to Reach 7.4 Billion in Tourism Sector Investments in FY 2022/23Egypt’s government has set new investment targets for the fiscal year (FY) of 2022/2023, aiming to reach 7.4 billion in investments for Egypt’s tourism sector. These new targets aim to fortify the tourism and antiquities sector, which serves as one of the most lucrative and vital for Egypt. As a result, approximately USD 9 million (EGP 222 million) was generated in touristic revenue for 2021. Ahead of the Qatar World Cup, Egypt announced that it would grant holders of the FIFA Hayya Card permission to enter Egypt sans visa. Similarly, the hospitality sector has been encouraged, for the tournament’s duration, to adjust pricing to accommodate potential tourists.

And their latest entry-level smartphone — Huawei nova Y90 — does not disappoint. Fortunately, Huawei has answered the demand for a high-quality entry-level smartphone with the Huawei nova Y90. Dubbed as the Super Powerful Star with Massive Display HUAWEI nova Y90 comes in Emerald Green, Midnight Black, and Crystal Blue. 6.7-inch HUAWEI Edgeless FullView Display for a wider field of viewFeaturing a 6.7-inch HUAWEI Edgeless FullView Display, HUAWEI nova Y90 lets you view your content on a larger scale. HUAWEI nova Y90 supports Continuous Front/Rear Recording for a seamless switch between the front and rear cameras.

AlBaraka Capital for financial investments, a subsidiary of AlBaraka Bank, announced the establishment of “Tanfeez” company for real estate investment and urban development. The company represents the investment and real estate development arm of the group, with the aim of making a quantum leap in the Egyptian real estate market. And provide investments and programs to provide liquidity for real estate projects that are compatible with the provisions of Islamic Sharia. Tanfeez adopts an ambitious expansion strategy that enables it to provide integrated investment services in the field of real estate development, in addition to providing project financing programs in cooperation with major real estate developers. For his part, Hazem Hegazy, Vice Chairperson and CEO of alBaraka Bank, expressed his happiness at the launch of the “Tanfeez” company specialized in real estate investment and urban development.

CAIRO - 12 December 2022: Egypt has embarked on multiple transportation projects, which has expanded its transport networks to serve the public. Since the new means of transportation run on electricity, Egypt Today thought to provide brief information, in the below lines, on each project to understand the different between the two prominent projects: the light electric train (LRT) and the electric express train. The most important difference between the light train and the express train is the distance between the stations in addition to the speeds; 1 km to 1.5 km. Express electric trainThe electric express train is being implemented to connect all the governorates of Egypt, to achieve the service of transporting passengers and goods. The financial cost of the express train is $25 million per kilometer, and the capacity is 15,000 passengers per hour in each direction, and the capacity is 250,000 passengers/day.

Vortex Energy, a renewable energy platform managed by the private equity arm of EFG Hermes, has invested €46m in Ignis Energy. Sources told Daily News Egypt that Vortex Energy will invest up to €476m through its newly launched Vortex Energy IV Fund and its co-investors into Ignis via a series of capital injections, which will be deployed over the coming few years subject to certain conditions. They added: This capital contribution from Vortex Energy IV and its co-investors will allow Ignis to own and operate a growing share of the projects that it develops. Advisory services to Vortex Energy were provided by Santander and Royal Bank of Canada as financial advisor and Watson Farley Williams as legal advisor, while Citi provided financial advisory services and Cuatrecasas provided advisory services. Ignis’ management has been actively negotiating more than 500 MW of bilateral PPAs with blue-chip and reputable off-takers.

Foreign Minister Sameh Shoukry stressed that Egypt has the political will to develop relations with North Macedonia, explaining that his talks with his Macedonian counterpart Boyar Osmani dealt with enhancing relations in various fields. He affirmed that Egypt continues in all its efforts for relations based on mutual respect with North Macedonia. Shoukry stressed that there is a political will to continue cooperation between Egypt and Macedonia, as well as cooperation with the group of Mediterranean partners of the Organization for Security and Co-operation in Europe (OSCE). He noted that it was agreed to continue the political dialogue between Egypt and North Macedonia to advance and upgrade relations. Osmani said that an agreement was reached with Foreign Minister Shoukry on strengthening economic relations.

Amr Abol-Enein, CEO and Managing Director of CI Asset Management (CIAM), the asset management arm of CI Capital, revealed that they aim to increase their asset management portfolio to EGP 50bn by the end of this year. The portfolio exceeded EGP 48.4bn last September. Abol-Enein told Daily News Egypt that the company aims to launch new funds during the next year, following the investment fund “Misr Equity” that tracks equities with cumulative return that was launched earlier this year. He emphasized that the fund is the first of its kind in the Egyptian market, and that is why it attracted investors wishing to achieve returns on a specific type of asset, which is stocks that follow one of the money market indexes. Abol-Enein said that the mergers between the asset management activities of CI Capital and Misr Capital, in a new entity, have reached the final stages.

The metaverse concept recently publicised by Facebook’s rebranding as Meta will revolutionise how we interact with the world. He describes the metaverse as “a virtual environment where you can present yourself with people in digital spaces. The adoption of passive profiling technology by metaverse developers utilising the push technology to ensure their users are targeted with the appropriate psychographic profiles. A nation whose psychological mood is ill, its national security becomes unbalanced as the shaken citizen is easy to misguide in any direction. A country can, for example, direct public opinion and measure it, but it cannot do so with the public mood.

PARIS-CAIRO - 11 December 2022: The government has launched a strategy for the automotive industry in East Port Said Industrial Zone, Chairman of the General Authority for the General Authority of the Suez Canal Economic Zone (SCZone) Walid Gamal Eddin said Saturday. He said the government is interested in car manufacturing, not just car assembly, adding that the car industry is among the sectors targeted for local entrenchment under the SCZone 2020/2025 plan. Having attracted a great deal of diversified investments, the authority now targets 21 industries, including green fuel, Gamal Eddin added. He added that the auto industry is prominent among these industries; therefore, a car manufacturing complex is under construction in East Port Said to lure further investments in coordination with the main industrial developer in East Port Said Industrial Zone. Moreover, some cooperation agreements have been signed with global auto makers on that score, Gamal Eddin said.

CAIRO – 11 December 2022: Mummification is a practice that was widespread in the ancient Egyptian civilization. Believing in the idea of immortality led them to preserve dead bodies as close to their natural state as possible. The limit did not end on preserving the bodies of their deities and kings, but extended to their animals as well, as millions of cats, dogs, birds, rodents, monkeys, sheep, fish and even crocodiles were found in the underground catacombs all over Egypt. The staggering numbers of preserved animal remains — many of them so carefully cured that they were found wrapped in linen like their human counterparts — not only point to a cultural and religious phenomenon, as the ancient Egyptians believed that sacred animals were personifications of deities resembling them. Mummification of animals in ancient Egypt - social mediaMummification of animals in ancient Egypt - social mediaMummification of animals in ancient Egypt - social mediaMummification of animals in ancient Egypt - social media

CAPITALS OF GOVERNORATES, Dec 11 (MENA) - Egypt’s Ministry of Health and Population announced on Sunday launching a four-day national campaign to vaccinate children against polio as part of its efforts to maintain the country’s polio-free status. The campaign will end on Wednesday and aims to vaccinate both Egyptian and non-Egyptian children residing in the country free of charge. Egypt has been declared polio free since 2006 in accordance with the standards set by the World Health Organization, with the last case recorded in 2004. Vaccination will take place across the country through the ministry’s offices, health centers and medical units. There will also be medical personnel going door to door from 8am to 5pm to ensure that all children receive the vaccination

Egypt’s Ministry of Health and Population organized on Saturday the fourth annual scientific conference of the central laboratories, under the slogan “Towards One Health”. Qandil stressed the importance of the conference in reviewing and transferring the latest laboratory research in the field of food and water safety, in addition to its role in spreading the culture of antimicrobial resistance to antibiotics. He pointed out the importance of participation and coordination between all sectors and agencies affiliated with the Ministry of Health and Population, according to a unified strategy for early detection of epidemics and viruses and dealing with them quickly, in order to preserve the health of humans, animals, and plants. He further added that a new central laboratories complex in Badr City is being established and equipped, on an area of 33,000 square meters, and equipped according to building codes and standards. He pointed out that Egypt has great experience in the field of laboratories and medical analysis.

On an Arab soil and in front of their compatriots, Morocco beat Portugal (1-0) on Saturday and became the first Arab and African team to qualify for the World Cup semi-finals. At Al Thumama stadium, the history makers earned a place in the final four courtesy of Youssef En-Nesyri’s brilliant header just before half-time. Portugal seemed helpless, except for a few chances that were all denied by Morocco’s legendary goalkeeper Yassine Bounou. Morocco under Walid Regragui have faced Belgium, Croatia, Spain, and Portugal but none could even score against them. Morocco are now in a six-game unbeaten run in the World Cup (3 wins and 3 draws).

England reached the final of the Euros last year where they lost in a penalty shootout to Italy, but Kane is confident they can dethrone world champions France when they meet their European neighbours in Saturday's quarter-final. Of course we went there with the belief that we could win, but it was almost a new experience for a lot of us," Kane said. But whether we had the full belief to go and win the tournament, I'm not quite sure. "I feel like the belief has been building and building over the four or five years now. I know we're going into the game with maybe more belief than what we did back in 2018."

President Abdel Fattah El Sisi voiced his confidence that the Arab-Chinese summit would give impetus to Arab-Chinese cooperation in all forms. Delivering a speech during the summit in the Saudi capital of Riyadh, Sisi asserted that Egypt fully supports mechanisms of Arab-Chinese cooperation, inviting the Arab leaders and the Chinese president to Egypt to become the next host of the coming Arab-Chinese summit. He called on considering this summit as a new launchpad for economic cooperation between the Arab world and China, given that China is the biggest trade partner of a large number of Arab countries. The areas of Arab-Chinese cooperation are not limited to the economic and development aspects, but also covers the political and cultural ones, the president said, citing the Chinese moderate stances toward various Arab issues, mainly the Palestinian cause. In his speech, Sisi shed light on crises in Yemen, Syria, and Libya as well as combating terrorism in all its forms, warning of the dangers of the Arab water security.