Egyptian billionaire Mohamed Al-Fayed dies at 94
Egyptian billionaire Mohamed Al-Fayed, the former owner of Harrods department store and the father of Dodi Fayed, who died with Princess Diana in a car crash in 1997, died Friday in London. Mohamed Al-Fayed was born in Alexandria, Egypt, in 1929. He married Samira Khashoggi in 1954 and they had one son, Emad, known as Dodi. Al-Fayed is best known for his ownership of Harrods, which he bought in 1985 and sold to Qatar in 2010 for $2.4bn. In 2013, Al Fayed sold Fulham Football Club to US auto parts billionaire Shahid Khan for a reported $300m.
Source:Daily News Egypt
September 02, 2023 18:26 UTC
Government allocates LE 3.3 million for irregular workers
CAIRO – 2 September 2023: The Egyptian government allocated LE 3.3 million for seasonal workers’ wages in the Fiscal Year 2023/2024, compared to LE 2.83 million in previous year, an analytical statement of the 2023/2024 budget submitted by the Minister of Finance, Dr. Mohamed Maait, to the House of Representatives. The state’s general budget for the new fiscal year 2023/2024 is about LE 4.3 trillion, compared to LE 3.066 trillion in the current year 2022/2023. The government also has allocated LE 71.4 billion in investments in the FY2023/2024 for the development of the governorates of Upper Egypt. The projects include establishing and paving vital roads, road networks, besides completing the construction of the Holy Family Road. Additionally, the government aims to implement several development projects in the governorates of Central Upper Egypt during the fiscal year 2024/23.
Source:Egypt Today
September 02, 2023 17:34 UTC
World Youth Forum hails UNGA resolution to welcome its contributions
CAIRO – 2 September 2023: The World Youth Forum (WYF) has praised the United Nations General Assembly’s adoption of a resolution welcoming the contributions of the forum, which is held in Sharm El-Sheikh city. “This decision further proofs how the UN recognizes the effort of WYF and similar youth empowering entities,” the WYF said in a Facebook post on Saturday. The UNGA has adopted, by consensus, a resolution on United Nations simulation models and their role in empowering young people, enhancing their connection to the United Nations organization and fostering their familiarity with multilateral work. The resolution welcomed the contributions of youth forums and conferences, especially the World Youth Forum held in Sharm El-Sheikh in its four editions, and its role in empowering young people and providing them with an opportunity to develop their capabilities. Ambassador Osama Abdel Khaleq, Egypt’s Permanent Representative to the United Nations in New York, stated that the adoption of this resolution, and the joining of more than 115 countries to its list of sponsors, reflects the international appreciation enjoyed by the World Youth Forum.
Source:Egypt Today
September 02, 2023 16:51 UTC
Worrying statistics on the world’s water crisis
The world’s water shortage crisis grows increasingly worrying, with many people suffering from a lack of clean water for consumption and agriculture. The world’s ground and surface water reserves are also constantly declining – statistics say that in recent years, about 1/4 of the world’s groundwater reserves have been depleted. The world’s water shortage crisis is one of the biggest challenges facing humanity in the 21st century, and requires urgent and sustainable solutions. The areas most affected by the water shortage crisis are those that suffer from recurrent drought, climate change or an increase in water demand brought on by population growth, economic development, or pollution. Sixty percent of the population of the Middle East suffers from severe “water stress.” In South Asia, eighty percent of its population faces deteriorating water quality.
Source:Egypt Independent
September 02, 2023 15:25 UTC
PM issues regulations on collecting fees of foreigners’ visas
Prime Minister Mostafa Madbouly on Thursday issued a decision regulating the stay fees for foreigners in Egypt who have applied for a tourist or other kinds of visas at the General Administration of Passports, Immigration and Nationality. Under the regulations, foreigners who applied for visas are required to submit a receipt indicating that they have transferred the fees, including those for residency, late fines and costs of issuing the residence card, in dollar currency or its equivalent in other currencies. The premier’s decision, also, stipulates that illegal foreign residents should legalize their stay under a condition of having a host carrying the Egyptian nationality, within three months of enacting the aforementioned decision. The illegal residents are required as well to pay administrative fees of 1,000 US dollars.
Source:Egypt Independent
September 01, 2023 21:56 UTC
Egypt's inclusion in BRICS to boost infrastructure, free trade in Africa
CAIRO - 1 September 2023: Busi Mabuza, Chairperson of the Business Council of BRICS (Brazil, Russia, India, China, and South Africa), stated at the 15th BRICS summit held in South Africa between August 22-24, that South Africa was among the most enthusiastic supporters of the expansion of BRICS. According to Mabuza, South Africa has particularly encouraged new members since it was the first beneficiary of BRICS expansion. "The move will boost the infrastructure that connects African countries, including the Cairo-Cape Town route that spans many countries, all of which can benefit from this infrastructure," she added. Emphasis on the growth in trade between South Africa and its BRICS partners reflects the importance of regional and international cooperation for boosting the economy. This enhances the importance of diversifying trade and investment partners for South Africa.
Source:Egypt Today
September 01, 2023 19:48 UTC
Tourism Min. says 'Egypt welcomes all guests from various world countries'
CAIRO - 1 September 2023: Minister of Tourism and Antiquities Ahmed Issa asserted that Egypt welcomes all its guests from various world countries. This came during the minister's meeting with a group of tourists from various world countries during their tour of the Religions Complex on the fringe of inaugurating a number of historical sites in Old Cairo after renovation works. The minister was keen on taking a photo-op with the tourists, wishing them an enjoyable stay in Egypt. It is often considered one of the oldest civilizations in the world, with a history dating back thousands of years. Tourism is a significant part of the Egyptian economy, and the government has taken steps to ensure the safety and comfort of tourists.
Source:Egypt Today
September 01, 2023 19:25 UTC
New Delhi doesn’t want its monkeys to ruin G20. But it has a plan
Enter the langur – or at least, cardboard cutouts of langurs – and men trained to sound like the bigger primates. “Monkeys cannot be displaced, harmed or hit.”Men walk past monkeys on a street in New Delhi on August 30 ahead of the G20 Summit. Arun Sankar/AFP/Getty ImagesUpadhyay added they have also deployed between 30 and 40 men who can mimic the sounds of langurs to trick the rhesus monkeys into thinking they are nearby. The council has also left food for the monkeys in forested areas to encourage them to remain there, he added. Much of central New Delhi will come to a halt for the G20 with a huge operation to keep global leaders moving freely between the hotels and meeting venues.
Source:Egypt Independent
September 01, 2023 19:15 UTC
UN chief cautions military coups only worsen crises, urges democratic governance
Wednesday’s military takeover in Gabon came on the heels of Niger last month, Burkina Faso in 2022, and Chad, Guinea, Sudan and Mali in the years prior to that. The Gabonese military takeover was announced not long after the electoral authorities declared that President Ali Bongo had secured another term, even though there were allegations of electoral irregularities. The UN chief appealed to nations to act promptly in setting up trustworthy democratic systems and maintaining the rule of law. “Development is a central objective if we want to create conditions for peace and stability in Africa,” Guterres responded when asked by a reporter. “Diplomacy is more important than ever to navigate the tensions of our emerging multipolar world,” Guterres noted.
Source:Daily News Egypt
September 01, 2023 19:08 UTC
Gabon coup: Bongo’s rule ended by failed promises and shifting alliances
The military takeover happened hours after election results were announced that gave Ali Bongo Ondimba a third term. Finally, the result, which gave Ali Bongo Ondimba the victory with over 64% of votes cast, was announced while people were asleep. Except for its first president, Leon M’ba Minko (1960-1967), the Bongo family has governed the country for 56 years – (Omar Bongo Ondimba from 1967 to 2009 and Ali Bongo Ondimba from then on until 30 August 2023). The last two coups have been under Ali Bongo Ondimba. Ali Bongo Ondimba was the heir of a political system built by his father since the 1960s.
Source:Daily News Egypt
September 01, 2023 15:06 UTC
New Upper Egypt railway station cost LE 3.5 bln, to be opened in few days
CAIRO - 31 August 2023: Engineer Mohamed Amer, head of the Railway Authority, confirmed that the development work witnessed by the railway increased the number of trains entering Ramses station. Amer further explained that the new station of Bashteel in Upper Egypt is a smart station, and it was necessary to accomodate the number of trains. The head of the railway authority added, during his tour of the Upper Egypt train station, that the station was established with self-financing from the railway authority, and is implemented by one of the investment companies affiliated with the railway, noting that the station completely changed the facade of the region. He added that the cost of establishing the station is 3.5 billion pounds from the railway budget, and it will be opened within days, serving passengers from Upper Egypt and the Manashy line, noting that trains extending from Lower Egypt to Upper Egypt and vice versa will pass through Cairo Station - Ramses Station. The station includes 6 berths to serve the passengers of Upper Egypt, on the side of Sudan Street, and (4) berths for the Manashi line.
Source:Egypt Today
August 31, 2023 19:52 UTC
Egypt partners up with foreign firms to build bioethanol, sugarcane waste recycling factories
CAIRO – 31 August 2023: CEO of the Egyptian Sugar and Integrated Industries Co. Essam al-Bedewy stated Thursday that negotiations are underway to establish, in partnership with a German company, a factory that would produce paper made of sugarcane waste. The factory will span over 60 feddans (one feddan equals 4,500 square meters) in Qena's Nagaa Hamadi, costing LE4-5 billion. The duration of the construction is 1.5 to 2 years. Bedewy added that the construction of a bioethanol factory would begin in December in collaboration with a foreign company, and last for 18-24 months. It will lie in Aswan's Kom Ombo on 50,000 feddans, cost LE3.5 billion, and produce 62 million liters per annum.
Source:Egypt Today
August 31, 2023 19:20 UTC
BRICS Expansion Will Aid Alliance’s Struggling Economies
With the bloc growing in numbers following its 2023 summit, the BRICS expansion and de-dollarization will bring aid to some of the alliance’s struggling economies. However, for the developing economies of the global south, expansion could prove to be a haven. BRICS Expansion Should Help Economies in the Global SouthSource: dailynewsegypt.comAlso Read: BRICS Now Responsible for 43% of Global Oil ProductionAll eyes were on the ongoing BRICS summit last week, where the bloc had been expected to grow its numbers. Specifically, the BRICS expansion should bring aid to the alliance’s struggling economies. Moreover, with Saudi Arabia infusing the BRICS bank with funds, the bloc could see uniform prosperity forming on the horizon.
Source:Daily News Egypt
August 31, 2023 17:42 UTC
CBE hosts African central banks for training on big data, AI
The Central Bank of Egypt (CBE) is hosting a training course on “Application of Big Data Analysis and Artificial Intelligence to Central Banking” in collaboration with the COMESA Monetary Institute (CMI). The sessions cover the use of big data and AI in the banking and financial sectors, with a focus on the central banking functions. Lobna El-Bayyar, Assistant Sub-Governor for Business Technology Sector at the CBE, expressed the bank’s readiness for fruitful cooperation with COMESA central banks and highlighted its expertise in information technology. Lucas Njoroge, Director of the CMI, thanked the CBE for its continuous contribution to enhancing the skills of COMESA central banks. The participants also present possible solutions to these challenges as a practical training on big data analysis and AI.
Source:Daily News Egypt
August 31, 2023 05:04 UTC
Egypt sets up cabinet unit to coordinate with BRICS
Egypt has become a permanent member of BRICS, a group of major emerging economies that includes Brazil, Russia, India, China, and South Africa. Egypt will officially join the bloc on 1 January 2024, along with Saudi Arabia, Iran, UAE, Ethiopia and Argentina. The Egyptian cabinet approved on Wednesday the establishment of a BRICS unit in the cabinet, which will deal with cooperation issues with the BRICS bloc. The unit will consist of relevant ministers and officials who will work on enhancing Egypt’s relations with the other members of the group. The summit also welcomed the new members who will join the bloc in 2024.
Source:Daily News Egypt
August 31, 2023 02:49 UTC