India has expressed its commitment to deepening ties with Zimbabwe, offering assistance in bolstering the African nation’s healthcare system, including the fight against cancer. According to ZBC News, a partner of TV BRICS, Indian Ambassador to Zimbabwe Vijay Khanduja highlighted the strong historical and contemporary ties between the two nations. “Our relationship stretches back to the Mutapa State and the shared struggle for Zimbabwe’s independence,” he said. The proposed healthcare assistance aligns with India’s longstanding commitment to supporting development initiatives in Africa. This partnership has the potential to significantly improve healthcare access and outcomes for the people of Zimbabwe.

Egyptian Deputy Foreign Minister and head of the country’s delegation in BRICS, Ambassador Ragui Al-Etrebi, accompanied by Egypt’s Ambassador to Russia Nazih El-Nagari, participated in the BRICS member states meeting. Strengthening Economic Ties and Reducing Reliance on Global System:Russia’s Deputy Foreign Minister Sergey Ryabkov, acting as BRICS Sherpa, emphasized the focus on developing economic connections within the group, TV BRICS reported. He highlighted plans to explore using national and local currencies in cross-border transactions, minimizing reliance on the current global economic system. China’s BRICS Sherpa, Ma Zhaoxu, echoed this sentiment, advocating for increased use of national currencies and active support for the BRICS New Development Bank. New BRICS Members Contribute Fresh Perspectives:Egypt’s Deputy Foreign Minister, Ragui El-Etreby, pledged active participation in various sectors, including trade, technology, and logistics.

UNICEF said that nearly all children in the enclave were thought to require mental health support, US News reported on Friday. "They present symptoms like extremely high levels of persistent anxiety, loss of appetite. They can't sleep, they have emotional outbursts or they panic every time they hear a bombing," said Jonathan Crickx, UNICEF's chief of communication for the Occupied Palestinian Territories. "Before this war, UNICEF was considering already that 500,000 children were already in need of mental health and psychosocial support in Gaza. Today, we estimate that almost all children are in need of that support, and that's more than 1 million children.

An International Monetary Fund (IMF) team led by Ivanna Vladkova Hollar made “excellent progress” on discussions with Egyptian authorities regarding the first and second reviews of the country’s economic reform program, according to a statement released early Friday. The mission, which took place from January 17 to February 1, focused on reaching a Staff Level Agreement (SLA) for the combined reviews supported by the IMF’s Extended Fund Facility (EFF). “The IMF team and the Egyptian authorities have agreed on the main policy elements of the program,” said Vladkova Hollar in the statement. Virtual discussions will continue in the coming days to finalize the Memorandum of Economic and Financial Policies (MEFP) and determine the extent of additional support needed from the IMF and other partners to address Egypt’s increased financing gaps due to recent economic shocks. The mission concluded by thanking the Egyptian authorities for their “warm hospitality and constructive dialogue.”

CAIRO – 1 February 2024: A high-level security source has denied reports alleging that an agreement with Israel on Rafah and the Salah Al Din Axis, also known as Philadelphia Axis, is approaching. So, what is the Philadelphia Axis, and why does it hold strategic significance for both Israel and Egypt? • The Philadelphia Axis, also known as the Salah al-Din Axis, refers to a strip of land along the border between Egypt and the Gaza Strip. • The Egypt-Israel peace agreement imposes numerical and qualitative restrictions on the deployment of forces on both sides of the border, including the Egyptian side of the Philadelphia Axis. • Recent reports suggest that Israel has plans to construct an underground barrier in the Philadelphia Axis area.

Cairo Economic Court Has Sentenced Egyptian Graphic Designer Ghada Wali To 6 Months In Prison And A Fine Of 10000 LE Over Plagiarism ChargesIn 2022, a mural created by Wali was removed from a Cairo metro station after Russian artist Georgy Kurasov complained that she had copied his work. Korasov accused Wali of copying four of his artworks, which depicted ancient Egyptian civilization. He asserted that Wali had used these artworks without his permission in murals displayed in the Cairo Metro. The National Tunnels Authority and RATP Dev Mobility Cairo issued apologies to Korasov and emphasized their full respect for intellectual property rights of all parties involved. They also stated their intention to take legal action against Wali’s Studio, the advertising company associated with the Egyptian artist, for this wrongdoing.

Egypt’s central bank hiked key interest rates by 2% on Thursday, aiming to curb rising inflation despite signs of an economic slowdown. While inflation has eased in some advanced and emerging economies, the MPC highlighted geopolitical tensions and trade disruptions in the Red Sea as major concerns for Egypt’s inflation outlook. Leading indicators suggest a further slowdown in the fourth quarter, with the full-year outlook impacted by regional instability and Red Sea trade disruptions. They emphasized persistent inflationary pressures, geopolitical uncertainty, and maritime trade disruptions as factors tilting the inflation risk balance upwards. Policy OutlookThe Central Bank of Egypt committee stressed its commitment to anchoring inflation expectations and achieving price stability over the medium term.

Egypt’s manufacturing and extractive industries saw a slight decline in November 2023, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS). The overall index (excluding crude oil and petroleum products) dipped 0.55% to 96.25 in November compared to 96.78 in October. Similarly, the tobacco products sector jumped 29.68% to 176.63, also driven by market forces. The construction materials sector, encompassing bricks, glass, and cement, also took a hit, falling 5.13% to 84.51 due to market conditions. Continued monitoring of the index will be crucial to assess the overall health of the industrial sector and identify areas requiring targeted support.

Cairo – February 1, 2024: Economic experts are anticipating the Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) meeting to keep key interest rates during its first session of 2024. These meetings serve as a main indicator for the short-term direction of the Egyptian pound’s interest rate. Last week Reuters surveyed 16 economists, with a majority sharing a neutral outlook with expectations that the MPC will maintain the interest rates while Egypt continues its discussions with the IMF. During the past three MPC meetings, the CBE kept key interest rates unchanged, with the overnight deposit rate at 19.25 percent, while the overnight lending rate at 20.25 percent, and the main operation and discount rates at 19.75 percent. The next MPC meeting is scheduled for March 28.

Romantic novels have always held a special place in the world of literature. And since the Cairo Book Fair is still taking place till February 6, now is the perfect time to shop and start exploring the vast variety of books that the fair has to offer, and Egypt Today has the perfect book recommendations for all romance lovers. Romancing Mister BridgertonFor all Bridgerton series lovers, if you can't wait for the new season to drop, then you have to read the fourth book of the Bridgerton series. Ashgar La Tothallel El AshekinWritten by Dr. Nermine Nehmed Allah, the novel's events revolve around Noaman Al-Karmalawi's palace, which is full of stories and secrets. The sister who has no choice in life and the lover who is a source of worry for everyone.

Egypt’s Minister of Health and Population, Khaled Abdel Ghaffar, met with his Emirati counterpart, Abdul Rahman Al Owais, on the sidelines of the Arab Health Exhibition, which will take place from January 28 to 1 February 2024 in Dubai, United Arab Emirates. Hossam Abdel Ghaffar, the official spokesperson for the Ministry of Health and Population, said that the two ministers discussed how to enhance cooperation in training human resources on the latest medical technologies and digital health. He noted that the two ministers discussed cooperation in the One Health Strategy and the achievements of the two countries in human and animal health, fighting antimicrobial resistance, food and water safety, and climate change. The meeting also touched on comprehensive health coverage, Egypt’s successful experience in implementing the comprehensive health insurance system, the “Decent Life” initiative, and the “100 Million Health” presidential initiatives. Moreover, they discussed digital transformation and governance, and the UAE’s successful experience in digital transformation in the health sector.

"I don't think you can have an outstanding team performance when the individuals don't work together," Klopp told the BBC. "We could have scored and should have scored more goals. You cannot score five, six goals against Chelsea if you are not outstanding." Every time we recovered the ball after one or two touches we lost it," Chelsea manager Mauricio Pochettino told TNT Sports. "He was really disappointed with himself about missing the penalty but he is a handful," Klopp told the BBC.

In its previous meetings, the MPC reiterated that the path of the central bank’s key interest rates depends on the expected inflation rates, not the current inflation rates. The CBE revealed that the annual core inflation rate dropped to 34.2% in December 2023, compared to 35.9% in November 2023. The document projected that the inflationary pressures facing the Egyptian economy will start to ease from 2024, expecting an average inflation rate of around 9.2% during the period 2024-2028. She noted that the interest for one-year Treasury bills was 27.7% last Thursday, reflecting a real negative interest rate of 9%. The average expectations of 16 analysts indicate that the CBE will keep deposit interest rates unchanged at 19.25% and lending interest rates at 20.25% in the regular meeting.

Cairo – January 31, 2024: Egypt’s central bank confirmed the importance of banks to adhere with the limitations to the amount of cash customers are allowed to withdraw from local banks. Local media cited a message sent to banks by the Central Bank of Egypt (CBE), in which it reminded banks to follow the set daily limits for individuals and corporations at LE 150,000. Any requests from customers looking to withdraw amounts exceeding the LE 150,000 limit must be reported to the CBE twice a day (at 12 PM and 3 PM) for approval. The CBE’s previous instructions regarding withdrawal restrictions was in 2022, in which the central bank upped the cap for daily withdrawals to LE 150,000 from LE 50,000, maintaining the maximum limit for withdrawals for individuals from ATMs at LE 20,000. At the end of 2023, the CBE revealed that it was postponing adding fees related to bank transfer services executed via electronic channels - internet banking and mobile banking applications - in Egyptian pounds across its Instant Payment Network and InstaPay application.

CAIRO - 31 January 2024: The Central Bank of Egypt (CBE) has instructed banks to set a maximum daily withdrawal limit for a single client's account or all their accounts at LE 150,000. The CBE clarified that this maximum limit applies to both cash withdrawals and cheque transactions, without any exceptions for withdrawals exceeding LE 150,000 from all client accounts. Banks will send amounts exceeding LE 150,000 twice daily, at 12 PM and 3 PM, to the CBE for review and approval before execution. Egypt is working to curb the rise of the dollar in the parallel market, crossing LE 70. Stringent actions have been taken against gold mafias controlling the price of the yellow metal, causing the gram's price to reach record highs.