Egypt calls for immediate ceasefire in Gaza, rejects displacement of Palestinians
Rafah – Egypt has urged an immediate ceasefire in Gaza to stop the ongoing bloodshed. Madbouly added that Egypt is against targeting civilians from any side of the conflict and that it opposes the collective punishment of Palestinians in the Gaza Strip. “They can see for themselves.”Earlier on Tuesday, Madbouly revealed North Sinai Development Vision, which includes 302 projects worth EGP 363bn until June 2030. “All these projects will be implemented by the hands of people from North Sinai,” he said. He added that Egyptians are ready to sacrifice their lives to protect every grain of sand in Egypt’s North Sinai.
Source:Daily News Egypt
November 01, 2023 04:03 UTC
How Middle East conflict could affect global commodity markets
A new report from the World Bank examines the potential impact of the ongoing conflict in the Middle East on commodity prices, especially oil. The World Bank’s latest Commodity Markets Outlook provides a preliminary assessment of the possible implications of the conflict for commodity markets in the near term. Overall commodity prices are projected to fall 4.1% next year, as supplies of agricultural commodities and base metals increase. However, it also warns that an escalation of the conflict could push global commodity markets into uncharted waters, with significant implications for inflation, growth, and poverty. The report cautions that higher oil prices could have spillover effects on other commodity markets, especially food.
Source:Daily News Egypt
October 31, 2023 18:34 UTC
Highlights of developmental projects in North Sinai after Egyptian PM's visit
With regard to women, they compose 49.1 percent of the population, 31.3 percent of students at technical education, 45.3 percent at higher education, and 59.4 percent of beneficiaries of governmental microfinancing. The total number of schools in the governorate is 625 comprising a total of 3,800 classrooms that can accommodate 121,700 students. Regarding technical schools, they stand at 35. LE17.6 million were spent on creating alternatives to two slums, while unlicensed areas in Arish have been rehabilitated at LE225.5 million. North Sinai is home to six hotels consisting of a total of 428 rooms, and two hospitality schools, as well as two natural reserves.
Source:Egypt Today
October 31, 2023 16:39 UTC
Palestinian joint statement:‘Escalate all forms of resistance’
The following slightly edited statement was issued Oct. 28, 2023 by Palestinian forces: Democratic Front for the Liberation of Palestine, Hamas (Islamic Resistance Movement), Palestinian Islamic Jihad, Popular Front for the Liberation of Palestine, and Popular Front for the Liberation of Palestine – General Command. The five Palestinian powers held a leadership meeting in Beirut on Oct. 28, 2023, to discuss the course of the Al-Aqsa Flood Battle with the Zionist enemy and its brutal aggression against the Gaza Strip. It targets hospitals, mosques, churches, universities, and ambulances, and cuts off electricity, water, fuel, the Internet and cellular communications for our besieged people. We salute the resistance forces in our nation, especially in Lebanon, Syria, Iraq, Yemen and Iran, and we affirm that our Palestinian people are not alone in this battle. Victory to our people and their valiant resistance.
Source:Egypt Today
October 31, 2023 14:45 UTC
Egypt’s President meets with government officials to discuss efforts to protect agricultural land
Egyptian President Abdel Fattah Al-Sisi met with Prime Minister Mostafa Madbouly, Interior Minister Mahmoud Tawfik, Agriculture and Land Reclamation Minister Elsayed El-Kosair, and Local Development Minister General Hisham Amna, as well as other officials, to discuss the latest efforts to preserve and protect agricultural land. During the Monday meeting, the president was briefed on the challenges facing the concerned authorities in protecting agricultural land, and ways to overcome them. The presidency spokesperson, Ahmed Fahmy, explained that President Al-Sisi directed the government to continuously and carefully follow up on these efforts and to resolutely counter illegal practices of seizure and encroachment on agricultural land. The president emphasized that protecting agricultural land is essential to achieving Egypt’s economic and developmental goals, and to preserving the assets and rights of the state and the people. Daily News Egypt
Source:Daily News Egypt
October 31, 2023 13:51 UTC
Tax amendments increase cigarette prices by 12% annually
The House of Representatives passed amendments to the value-added tax on cigarettes Sunday, resulting in an increase of at least 12% in the official prices of cigarettes. The amendments allow them to adjust cigarette prices without moving into higher tax brackets. According to the Plan and Budget Committee report, the expected revenue from the tax increase is EGP 8bn. The shortage in supply led to an increase in unofficial selling prices to consumers over the past months, exceeding the official prices set by more than 100%, which raises questions about the possibility of increasing official prices shortly. Youssef Al-Banna, a financial analyst at Naeem Securities, said that the current fluctuation in cigarette prices is mainly due to a lack of supply.
Source:Daily News Egypt
October 31, 2023 13:23 UTC
Messi wins record eighth Ballon d'Or for best player in the world
PARIS, Oct 30 (Reuters) - Argentina captain Lionel Messi won a record eighth Ballon d'Or for the best player in the world on Monday, beating Norway's UEFA player of the year and treble winner Erling Haaland of Manchester City to the prestigious prize. The fortune I’ve had playing for the best team in the world, the best team in history. "This (World Cup) title we had been aiming for for so many years makes it even more special." Asked if he would carry on until the 2026 World Cup, Messi said: "I don't think about it. Spain's Women's World Cup winner and Barcelona midfielder Aitana Bonmati won the women's Ballon d'Or.
Source:Egypt Today
October 31, 2023 13:22 UTC
Egyptian armed forces carries out training activities in Third Field Army, northern region
CAIRO - 31 October 2023: The Egyptian armed forces carried out a number of training activities in the Third Field Army and the northern region. In the framework of the implementation of the combat training plan for the military formations and units of the armed forces, one of the units of the Third Field Army carried out the main phase of a two-level external command center project lasting several days. The main phase began by implementing preparation and organization measures for the team members participating in the implementation of the project, in addition to presenting and the combat efficiency reports and cooperation organization procedures. The phase further includes a visit to the command and control centers to confirm their readiness and preparedness. The project and the practical demonstration were attended by a number of commanders of the armed forces and a number of students from military colleges and institutes.
Source:Egypt Today
October 31, 2023 11:58 UTC
Schneider Electric expands its investments, exports in Egypt
The General Authority for Investment and Free Zones (GAFI) and Schneider Electric, a global leader in energy management and automation, have discussed the company’s expansion plans in Egypt. GAFI President Hossam Heba and Schneider Electric President for North East Africa and the Arab Levant region Sebastian Rees visited the company’s factory in Badr City, the largest of its kind in the Middle East. Heba praised Schneider Electric’s new investments, which he said are aligned with the government’s strategy to localize the electrical industries and support economic and social development. Rees affirmed that Egypt is a key market and a regional hub for Schneider Electric, where the company sees great potential for growth and expansion. Schneider Electric has been operating in Egypt since 1987 and has invested €300m over 35 years.
Source:Daily News Egypt
October 30, 2023 20:30 UTC
Egypt implements hundreds of projects to protect Sinai from flash floods
CAIRO – 30 October 2023: In 2014, the Egyptian government launched a series of projects aimed at protecting Sinai from flash floods by constructing 1,500 flood barriers, and 117 flood control channels extending on a total of 311 kilometers. The plan, implemented by the Ministry of Irrigation and Water Resources, also consists of digging 15 artificial lakes, and building nine rainwater harvesting dams having a total capacity of 6.6 million cubic meters. It is noted that the projects implemented to protect Sharm El Sheikh alone have cost LE1.5 billion. In a related context, Minister of Agriculture and Land Reclamation Al Sayed al-Qusair stated in September that roads, power plants, agricultural wastewater recycling plants, water supply networks, and pumping stations were being introduced to reclaim and cultivate 500,000 feddans (one feddan equals 4,500 square meters) in Sinai. The minister made the statement during a ceremony held to deliver leasing contracts to farmers on the peninsula, noting that LE750 billion had been spent on development projects in Sinai, including those pertaining to health, education, and social protection.
Source:Egypt Today
October 30, 2023 19:09 UTC
60 new trucks of humanitarian aid prepare to cross Rafah border into Gaza
CAIRO – 30 October 2023: Up to 60 new trucks of humanitarian aid are being prepared to arrive on the Palestinian side through Rafah crossing according to Al Qahera news channel on Monday. Egyptian Red Crescent also said that more than 500 trucks carrying aid are ready to enter the Strip. The Red Crescent demand that the Rafah crossing be opened continuously so that aid arrive to civilians in Gaza. Sisi called for an immediate humanitarian truce, delivering humanitarian, medical and relief aid to the people of Gaza. Sisi told Biden Egypt rejects the policies of collective punishment and displacement, reiterating that Egypt did not allow the displacement of Palestinians from Gaza Strip into Egyptian territory in the past, and will not allow it today.
Source:Egypt Today
October 30, 2023 13:52 UTC
Egypt to extend electricity load shedding to 2 hours per day
The Ministry of Electricity announced on Friday that the electricity load-shedding period will be extended from one to two hours per day, starting from 12 PM to 3 AM daily. According to media reports, the National Electricity Control Authority has notified all nine distribution companies across the country that they will have to implement the load shedding in all regions, except for hospitals, which will not be affected by the power cuts. Other institutions, such as schools, universities, and police departments, will have to endure the two-hour load shedding as well. They said that the load shedding has increased from one to two hours per day, despite the significant drop in temperatures recently. They also said that they have stopped using the air conditioners that consume large amounts of electricity.
Source:Daily News Egypt
October 30, 2023 13:35 UTC
AUR Leasing to issue EGP 1.7bn securitised bonds next month
AUR Leasing, a subsidiary of AUR Capital, plans to issue securitised bonds worth EGP 1.7bn next month. According to Daily News Egypt, the company is preparing the issuance file to apply to the Financial Regulatory Authority and expects to issue the bonds in the second half of next month. Meanwhile, AUR Consumer Finance is expected to complete the issuance of securitised bonds worth EGP 300m this week. Mohammed Farid, Chairperson of the Financial Regulatory Authority, said that there is an increasing interest from various economic entities in the financing formats provided by non-banking financial activities. He stressed the need for continuous improvement and development of the procedures for issuing these instruments, as they play a vital role in financing companies, entities, and public legal persons.
Source:Daily News Egypt
October 30, 2023 13:27 UTC
Louvre museum in Paris presents a five-part augmented reality (AR) experience called “Egypt Augmented”
Louvre museum in Paris presents a five-part augmented reality (AR) experience called “Egypt Augmented.”It comprises four location-specific experiences based around three exhibits inside the museum’s Department of Egyptian Antiquities, and one in the exterior courtyard, the Cour Carrée. Additionally, Snapchat users around the globe can also use a free Face Lens feature inspired by the exhibition. Upon scanning a QR code with their smartphone, visitors to the museum can see exhibits come to life in AR before their eyes. The "Dendera Zodiac,” a ceiling relief featuring a Ptolemaic sky map from 50BC, appears in 3D alongside simple explanations of its symbols and purpose.
Source:Egypt Today
October 30, 2023 13:15 UTC
Egypt’s ambassador in Moscow participates in BRICS meeting
Egyptian Ambassador in Moscow Nazeh al-Nagari took part in a round table organized by Russian Deputy Foreign Minister Sergei Ryabkov for ambassadors of BRICS member states, within the framework of Russia’s upcoming presidency of the bloc. The meeting was attended by BRICS member states and countries that will join the economic group as of the start of 2024, including Egypt. Participants of the meeting welcomed the new members of BRIC and reviewed the work mechanism of the bloc as well as its multifaceted goals, especially the economic and development ones, the Foreign Ministry said on its Facebook page on Saturday. They, also, reviewed the priorities of the BRICS throughout its current expansion stage and the future one as well.
Source:Egypt Independent
October 30, 2023 12:26 UTC