UPDATED: 13 Palestinians killed in Israeli airstrikes on Gaza, including children
The Israeli airstrikes targeted several homes and residential buildings across Gaza, according to a MENA report. The final number of casualties has not yet been confirmed by the Palestinian Ministry of Health amid fears that many victims could be buried under the rubble as rescue operations are underway, said WAFA. Israeli newspaper, The Jerusalem Post, said the Israeli army assassinated a number of senior members in the Palestinian Islamic Jihad (PIJ) movement in the airstrike, declaring the launch of Operation Shield and Arrow. The officials targeted include the commander of the al-Quds Brigades in the northern Gaza Strip, an official responsible for activities in the West Bank and the secretary of the military council in the movement.
Source:Egypt Today
May 09, 2023 12:30 UTC
Palestinian FM Condemns Israeli Plan To Build New Settlements In Occupied Territories - Dailynewsegypt
It said in a statement that“Israel flouts all international positions and demands, the signed agreements, and UN resolutions that call for and demand the cessation of settlement activity. “It is illegal, illegitimate, and a crime that threatens to undermine the principle of the two-state solution and the opportunity to establish the Palestinian state on the ground with East Jerusalem as its capital, in accordance with UN resolutions,” said the statement. The Ministry considered increasing and expanding settlements“a blatant challenge to the will of the international community, and a disregard for the American and international positions that warn of their dangers in the conflict, and a dangerous escalation of the situation. The Ministry said that“the occupying state is taking advantage of double international standards to implement more of its expansionist colonial plans, and to move forward with the creeping gradual annexation of the occupied West Bank.”It also believes that Israel's continued impunity and escaping trial for its crimes encourages it to commit more of them, foremost of which are the settlements. The Ministry stressed that cessation to all forms of settlement activities is the correct approach to restoring confidence between the Palestinian and Israeli parties in preparation for launching a real negotiated political process that puts an end to the Israeli escalation and leads to resolving the conflict through peaceful political means.
Source:Daily News Egypt
May 09, 2023 09:42 UTC
Egyptian, Indian Air Forces Carry Out Joint Trainings - Dailynewsegypt
The training included the implementation of a number of joint exercises, including air refueling training, which contributes to the exchange of training experiences between the participating elements from both sides. The training showed the extent to which the air force fighters have reached a high professional level that qualifies them to carry out all tasks.
Source:Daily News Egypt
May 09, 2023 09:15 UTC
Egyptian Prime Minister Meets Vice President Of World Bank In Cairo - Dailynewsegypt
During the meeting, the Prime Minister thanked the World Bank delegation for their efforts to finalise the new country strategy between Egypt and the World Bank Group for the period 2023-2027. The Prime Minister affirmed that the government is committed to giving way to enhancing the role of the private sector in economic fields. Madbouly added that he holds various meetings with representatives of the private sector to exchange views on different economic policies and to overcome difficulties they may face. The meeting touched on the developments of the ongoing crisis in Sudan, where the Prime Minister presented efforts made by the Egyptian state to facilitate the crossing of Sudanese and to provide them with all possible services. She announced that the Egyptian private sector is preparing to launch“private green bonds” valued at around $120-200m.
Source:Daily News Egypt
May 09, 2023 07:22 UTC
Egyptian, Indian air forces carry out joint trainings
The Egyptian and Indian air forces have carried out joint trainings at one of the Egyptian air bases, in the framework of supporting and strengthening military cooperation between the two friendly and brotherly countries. The training included the implementation of a number of joint exercises, including air refueling training, which contributes to the exchange of training experiences between the participating elements from both sides. The training showed the extent to which the air force fighters have reached a high professional level that qualifies them to carry out all tasks.
Source:Daily News Egypt
May 09, 2023 06:24 UTC
Egypt may exempt Egyptians coming abroad from fees when buying foreign gold
The Ministry of Supply proposed an initiative to exempt Egyptians coming to Egypt from fees when they buy gold from abroad. Under the initiative, any Egyptian coming from abroad is exempt from fees imposed on between 100 and 150 grams of gold, which is equivalent to three gold bars weighing 50 grams per bar. The proposal aims to find a mechanism to provide gold supplies in the Egyptian market in order to stabilize prices, he added. Moselhy also submitted a draft decision to exempt gold ornaments and gold bars imported with Egyptians from abroad from all taxes and fees. Gold prices declined in Egypt, Monday by LE30 compared to Sunday, as the price of 21 karat fell to record LE2,600 per gram, amid a slowdown in demand for gold on the local markets.
Source:Egypt Independent
May 09, 2023 02:31 UTC
HDB Offers New Savings Certificate With 20% Yield - Dailynewsegypt
The minimum price for purchasing the certificate is EGP 100,000 and its multiples, and the return is calculated starting from the day following the purchase, and it is automatically renewed unless the customer requests not to renew. The bank allows the customer to retrieve the certificate after 6 months have passed from the date of purchase, so that 11% is deducted if it is redeemed before the first year, 10.5% in the second year, and 10% in the third year. The bank had recently revealed that its deposit product portfolio had achieved remarkable growth, whether at the level of individual deposits or corporate deposits, as the deposit portfolio increased by 42% to reach EGP 89.5bn by the end of 2022, compared to about EGP 63bn by the end of 2021, an increase of EGP 26.5bn. A report by the bank's board of directors revealed that the individual deposits portfolio increased by 21.36%, to record EGP 27.2bn at the end of 2022, compared to EGP 22.4bn at the end of 2021. The corporate deposits portfolio also witnessed a growth of 53.9%, to record EGP 62.2bn, compared to about EGP 40.5bn.
Source:Daily News Egypt
May 09, 2023 02:22 UTC
Incorporating Misr Insurance Holding into TSFE could take one year
Informed sources told Daily News Egypt that the inclusion of the Misr Insurance Holding Company (MIHC) into the Sovereign Fund of Egypt (TSFE) instead of the Ministry of Business Sector may take over a year, until the required procedures are completed. 102 of 2023 to transfer ownership (100%) of the shares of Misr Insurance Holding to TSFE. The sources confirmed that the plans to offer Misr Insurance and Misr Life Insurance in EGX or a strategic investor will proceed as is. Last March, Ayman Soleiman, CEO of TSFE, said in a statement that IHC is a group of very successful companies and therefore can be developed faster. Transferring its ownership to the Fund is only normal and aims to maximize their value and exploit their assets, and the plan to offer the subsidiaries of Misr Insurance in EGX will proceed normally.
Source:Daily News Egypt
May 08, 2023 21:33 UTC
Aaldar affirms its commitment to Egypt, despite halt of SODIC’s unit sales in 2023
SODIC halted its real estate sales in early 2023 in order to review its unit prices amid hiking construction costs. The company, of which 85.5% is owned by Aldar-ADQ consortium, has recorded total sales of EGP 2.78bn in the first quarter (1Q) of 2023, compared to EGP 3.74bn in the same period last year. The decline in sales during 1Q 2023 on an annual basis is due to the limited launch of new projects in 2023 compared to the same period of 2022, according to the financial results of the company in 1Q 2023. Following the acquisition, SODIC achieved EGP 21.3bn in development sales in 2022 which represents an 87% year on year growth. That performance has spilled over to 2023 with EGP 3.1bn recorded in sales and reservations in 1Q 2023, which shows the resilience and attractiveness of the real estate market in Egypt.
Source:Daily News Egypt
May 08, 2023 20:41 UTC
HDB offers new savings certificate with 20% yield
The Housing and Development Bank offered a new savings certificate for a period of 3 years, with a fixed return of 20%, to be spent annually, and 18.5% for monthly payment. The minimum price for purchasing the certificate is EGP 100,000 and its multiples, and the return is calculated starting from the day following the purchase, and it is automatically renewed unless the customer requests not to renew. The bank allows the customer to retrieve the certificate after 6 months have passed from the date of purchase, so that 11% is deducted if it is redeemed before the first year, 10.5% in the second year, and 10% in the third year. A report by the bank’s board of directors revealed that the individual deposits portfolio increased by 21.36%, to record EGP 27.2bn at the end of 2022, compared to EGP 22.4bn at the end of 2021. The corporate deposits portfolio also witnessed a growth of 53.9%, to record EGP 62.2bn, compared to about EGP 40.5bn.
Source:Daily News Egypt
May 08, 2023 17:00 UTC
Developers Call For Digitising Property Registration, Sale Process In Egypt - Dailynewsegypt
He added that there must be online information and specific and accurate data about New Urban Communities Authority's controls for real estate development companies. Mohamed El-Taher, CEO of the Saudi Egyptian Company for Development, highlighted the need to digitise procedures for registering real estate units and lands, as well as primary contracts to facilitate the export and sale of real estate units. This will be done through a strong technology system based on a strong technological infrastructure to facilitate disigalisation of property registration systems. He stressed the importance of facilitating real estate registration procedures for foreigners, starting with new cities and New Administrative Capital, and contributing to the legalisation of conditions. Mahmoud called on the Ministry of Housing to establish a window for real estate developer companies that provides a database that includes all projects and lands available for the advancement of the real estate sector.
Source:Daily News Egypt
May 08, 2023 16:42 UTC
Extrucoat21aims to increase its exports to 15% in 2023
Extrucoat21 has participated for the fourth time in a row in the Windoorex 2023 Cairo exhibition, the largest industrial forum in Egypt and the Middle East for glass, aluminum, U-PVC, facades, doors, and windows, which runs from 6 to 8 May 2023. Extrucoat21 aims to open new markets, especially the African continent, as well as the Middle East and Arab countries and European countries. The company owns markets in several African countries, including Libya, Morocco, Nigeria, Kenya, Uganda, and Zambia, and it also has clients in Lebanon and Europe. Managing Director of Extrucoat21 Mohamed Omar said: “We plan to increase exports to reach 15% of the production capacity, and we seek to increase it next year, especially in light of the current circumstances and the difficulties in managing the currency that we face in exporting and the challenges in applying a strict system in quality control.”Omar added that the company aims for increasing its exports during the coming period. Extrucoat21 was established in 2016, specializes in extrusions and paints for the aluminum sectors with investments worth EGP 900m.
Source:Daily News Egypt
May 08, 2023 15:27 UTC
FM stresses importance of activating joint Arab action in Syria
Foreign Minister Sameh Shoukry has pressed for an activated Arab action to solve Arab issues away from global polarization. Egypt is keen on reaching an Arab solution to the Syrian crisis, Shoukry said during the opening of an extra-ordinary session of the Arab League Council on Sunday. “Arab solutions are needed to solve Arab issues,” Shoukry told his Arab counterparts, who gathered in Cairo to discuss the situation in Syria. He, once again, stressed that a political solution is the only way to solve the Syrian crisis and achieve national consensus. Shoukry hailed as “an important step” the participation of Syria in an Amman meeting on May 1, believing it served as a good will gesture.
Source:Egypt Independent
May 08, 2023 12:46 UTC
Orascom Development Begins Handover Of 1St Phase Of O West - Dailynewsegypt
Samih Sawiris, the founder of Orascom Development, stated:“O West is the first Orascom Development town in Cairo, characterized by integration between all project elements and supported by global expertise spanning more than 33 years.”Omar El Hamamsy, Group CEO of Orascom Development Holding, stated:“At Orascom Development, we deliver more than just results; we're building a bridge of trust with our customers by creating vibrant integrated towns. We continually strive to raise the bar by adhering to high standards while following through on our commitments to deliver projects on schedule as a global developer of integrated towns in Europe, Middle East and Africa.“Tamer Dewidar, CEO of O West, Makadi Heights and Byoum, commented:“We are delighted by the level of progress and success that O West has achieved to date, reaching more than EGP 17bn in real estate sales since project launch till end of 2022.”He highlighted the town's commitment to accelerating construction for timely delivery of units, affirming today's delivery as evidence with 1,000 units on track to be delivered this year alone. Dewidar added,“Our customers' confidence in O West is evident from the higher-than-expected demand for residential units, reinforcing our commitment to delivering quality homes ahead of schedule.”O West has recorded EGP 5.7bn in sales in 2022, a 44.3% increase from 2021, and a total of EGP 17.34bn real estate sales achieved since project launch until the end of 2022.
Source:Daily News Egypt
May 08, 2023 10:42 UTC
Mabany Edris Introduces Koun In North Coast With Investments Of EGP 6Bn - Dailynewsegypt
Koun is located in the North Coast, 201 kilometers from the Alex-Matrouh road in the West North Coast. CEO of Mabany Edris Mohamed Edris commented:“Every project we work on aims to provide our clients and their families with all they need. Koun is the first residential, entertainment, and tourism project for Mabany Edris in the North Coast, it is designed into three phases with a mix of twin houses, townhouses, chalets, duplexes, and standaloneunits. The project is a part of the company's plan to develop various projects that meet clients' needs and demands in coastal cities. The project's consultant Ismail Habrouk said:“Our company always aims to enhance architectural awareness in Egypt and the Middle East by diversifying the modern architecture.
Source:Daily News Egypt
May 08, 2023 09:02 UTC