Samy Abdelsadek, Deputy Chairperson of the ABE, said that the bank is keen on supporting small wheat farmers and suppliers through an integrated system supported by the bank. Abdelsadek followed up on the progress of wheat supply in the bank's store in Tamiya town in Fayoum governorate, in the presence of a number of the bank's leaders. He explained that the bank has increased the number of storage sites this year to 190, with a capacity to receive about 850,000 tonnes of wheat during the season. The bank also allows suppliers to open bank accounts for free and obtain a card to facilitate the disbursement of dues from any ATM or bank branches. In addition to that, the bank provides supply to facilitate for the customers the process of warehousing.

EFG Hermes' brokerage division saw an increase in total executions by 31% Q-o-Q in 4Q 2022 on the back of strong executions in Egypt, the UAE, Saudi Arabia, and Kuwait markets. On an annual basis, total executions increased by 11% Y-o-Y, largely due to the increase in executions in Egypt and Saudi Arabia. Meanwhile, the brokerage division acquired a share of 40.2% of the Egyptian market in 2022, ranking first place in the market. It has also maintained its leading position on the DFM during FY22, with a market share of 41.1%, ranking first place in the Dubai market as well. EFG Hermes' brokerage division focuses on three key goals: creating innovative products, effectively contributing to financial literacy, and extending unrivaled client support.

About 60 million Turks are casting ballots to elect their 13th president and the 600-seat parliament. Supporters of Turkish President Recep Tayyip Erdogan are divided between those who will vote for him convinced of his vision, and those who will vote for him in the absence of a convincing alternative. According to official figures, 24 political parties and 151 independent candidates are running in the parliamentary elections. Political parties in Turkey entered the elections through 5 alliances of different orientations:“People's Alliance”,“Nation Alliance”,“Alliance of Ancestors”,“Labour and Freedom Alliance”, and“Union of Socialist Forces”. If no candidate receives more than half of the votes in the first round, a runoff will be held between the two highest vote-getters on 28 May.

The first session of the National Dialogue kicked off on Sunday at the Cairo Convention Center in Nasr City, Cairo. Discussions in the national dialogue sessions were very good, especially when it comes to electoral system: said Rapporteur of the Political Rights Committee of the National Dialogue Eng. “There was a need to discuss the electoral system because the current electoral system did not produce the best system that satisfies the people,” he added in media comments. It is worth mentioning that the sessions of the National Dialogue committees will convene three times a week. The National Dialogue was launched by President Abdel Fattah El-Sisi during the family iftar event in April 2022.

The AIM was held under the auspices of Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, during the period from 8 to 10 May, 2023. They further discussed ways to enhance joint economic cooperation with investors in the emirates of Ras Al Khaimah and Fujairah and to activate cooperation through economic integration projects between Egypt and the UAE and oil storage projects. The two sides agreed to organize an Egyptian-Emirati forum, as well as a visit of a delegation from the Chamber and the free zone to Egypt during the coming period. The meeting also dealt with the representatives of the companies to identify their plans to invest in Egypt or their expansion plans. Moreover,initial public offering of government companies and state-owned companies in the Egyptian Stock Exchange, with the aim of stimulating capital markets.

Speaking to reporters in Rome after meetings with his Italian counterpart and Italy’s prime minister, Zelensky said Ukrainian forces were “preparing very seriously.”“There will definitely be very serious steps. Earlier, Zelensky met with Pope Francis, who has been outspoken in his support for an end to the war in Ukraine. Vatican News/APZelensky said last week that his country still needs “a bit more time” before it launches the counteroffensive, in order to allow some more of the promised Western military aid to arrive in country. Russian attacksAs Zelensky toured Europe, Russia’s assault on Ukraine continued. In western Ukraine, at least 21 people were injured following Russian strikes on the city of Khmelnytskyi in the early hours of Saturday, Ukrainian authorities said.

For any business to run effectively, smoothly, and productively, delegation is a vital managerial skill. However, some managers tend to be reluctant when it comes to delegating tasks to their team members. When managers delegate, they create more room for themselves for creativity, innovation, and planning. At the same time, they create new opportunities for the team members to learn something new and develop their leadership skills. Run frequent training so that whenever the time comes for delegation you can rest assured that you have a team that is up for the new role.

Turkish voters went to the polls on Sunday to vote in the 28th presidential and parliamentary elections, amid tight security measures. About 60 million Turks are casting ballots to elect their 13th president and the 600-seat parliament. Supporters of Turkish President Recep Tayyip Erdogan are divided between those who will vote for him convinced of his vision, and those who will vote for him in the absence of a convincing alternative. According to official figures, 24 political parties and 151 independent candidates are running in the parliamentary elections. Political parties in Turkey entered the elections through 5 alliances of different orientations: “People’s Alliance”, “Nation Alliance”, “Alliance of Ancestors”, “Labour and Freedom Alliance”, and “Union of Socialist Forces”.

Egypt’s Ministry of Finance sells a 9.5 percent stake in state-owned telecom operator Telecom Egypt, raising more than LE 3.7 billion, which accounts for $121 million. The volume of requests received in the first tranche reached more than 504 million shares, which is around 3.11 times more than the total shares offered for that tranche. The Egyptian government sold more than 162 million shares, at a price of EGP 23.1 per share. Before this rating action, Egypt's ratings were B3 and the outlook was stable. The Telecom Egypt transaction signals Egypt’s seriousness about conforming to the economic reform program and stressing the government’s willingness to work towards supporting economic growth and stability in the country.

Egyptian archaeologist Zahi Hawass said that during one of his lectures in Los Angeles he was protested by people objecting to his refusal to consider Cleopatra being black. They carried banners with slogans against him, he said, adding that they had fallen for false information. During a phone interview with “Hadith al-Qahira” (Cairo Talk) talk show on the “al-Qahira wal Nas” (Cairo and the People) channel, Hawass stressed “We are not against blacks, and if the same situation happened with the continent of Asia, I would object to them.”He emphasized that Cleopatra was burgundy in color, and not dark-skinned, and this a fallacy bought into by African Americans. Hawass pointed out that “our film, which we released about Cleopatra, also received international attention, and this film responded strongly to the whole world.”“The paintings on the walls of temples confirm that the kings are not black,” he explained. ‘They are stealing my culture’!

May 13 (Reuters) - Manchester United can attract more "quality players" after finding it tough to convince some transfer targets last season, manager Erik ten Hag said as he bids to restore the Premier League side to their former glory. The Dutchman hopes to secure Champions League qualification for next season, with United occupying fourth place in the league. Now, many players see the project, what's going on, the dynamic and the ambition," Ten Hag told reporters before Saturday's home game against Wolverhampton Wanderers. This year, many quality players really want to come." United recruited the likes of Casemiro, Antony, Lisandro Martinez, Christian Eriksen and Tyrell Malacia under Ten Hag.

The head of the political department of the Islamic Jihad Movement Mohammed al-Hindi affirmed the movement’s commitment to the cease-fire brokered by Egypt with Israel. During a telephone interview with “AlQahera News” channel, Hindi said that “The cease-fire entered into force at ten o’clock (Cairo Time), and we are monitoring Israel’s commitment.”“We are committed to this agreement, which Egypt sponsored and made strenuous efforts over the past days, and the enemy has learned a lesson and will abide by it.”Hindi added that the Israeli occupation state wants to transgress the rights of the Palestinian people and does not recognize negotiations or any peace agreements, only seeking Palestine’s surrender. He stressed, “We cannot surrender, regardless of the capabilities of the Israeli occupation compared to the Palestinian capabilities.”“We will defend ourselves, our rights, our sanctities, and the future of our children, and everyone who has seen the pictures, and videos that came out of Israel in the past two days knows that it is not the bogeyman who scares the region and rampages in it.”“Israel has recognized things that it did not recognize in the past. This conflict is ongoing and long, and this is just one round. We made some gains from this round, as in every previous one.”

The Agricultural Bank of Egypt (ABE) has received the first batch of locally produced wheat in 2023, amounting to about 277,000 tonnes in the first month of the season, which started in early April, with a total value of about EGP 2.8bn. This is an indication of a successful season compared to the quantities supplied during the same period last year. Samy Abdelsadek, Deputy Chairperson of the ABE, said that the bank is keen on supporting small wheat farmers and suppliers through an integrated system supported by the bank. Abdelsadek followed up on the progress of wheat supply in the bank’s store in Tamiya town in Fayoum governorate, in the presence of a number of the bank’s leaders. In addition to that, the bank provides supply to facilitate for the customers the process of warehousing.

Last Thursday, the ECSD signed a memorandum of understanding (MoU) with the Egyptian Tax Authority to set the rules governing the application of agreements to avoid double taxation on bond returns for non-residents in Egypt. The MoU comes within the framework of the intensive preparations that the company is making to launch the first phase of its activity, which includes transferring all transactions related to treasury bonds to the company. He added that the most important goal of establishing the company is to organize the tax revenue resulting from the operations of bonds and treasury bills and to combine all these financial instruments under one umbrella. The ECSD was established with the aim of managing the deposit and settlement operations for all government debt instruments through a unified legal entity operating in accordance with international standards. The authorized capital of the ECSD, which is 70% owned by the Central Bank of Egypt (CBE) and 30% owned by the Finance Ministry, amounts to EGP 1bn, and the issued and paid-up capital recorded EGP 100m.

During the meeting, the two sides discussed ways to enhance economic cooperation between the two countries, and the serious endeavour to double joint efforts and exchange constructive and diverse experiences between the governments of the two countries, and discussed opportunities for concluding a free trade agreement to facilitate the movement of import and export and increase trade exchange during the coming period between the two countries. Maait said that the historical relations between the two countries extend for many decades, stressing that we are looking forward to concluding a joint agreement between the ministries of finance of the two countries to discuss public finance affairs, exchange experiences periodically, discuss economic conditions, discuss and study the double taxation agreement between the two countries and re-update it to keep pace with best practices and developments on the scene. For his part, the Malaysian Deputy Minister of Finance praised the Egyptian state's development in various economic activities, stressing his country's aspiration for joint cooperation in areas with a developmental dimension such as education, tourism, renewable energy and medical supplies. He referred to the study of the exchange of commodities of interest to the two countries. For example, Egypt imports palm oil in return for exporting pharmaceutical raw materials in a way that contributes to providing the basic needs of goods for the two countries in light of the current crises.