Farewell, forever wars, hello empire? The week that changed the world
The mission was to show the flag, explore commercial opportunities – including routes to supply gold-mining operations – and display a little firepower. An article in Naval History described how Loomis liked to demonstrate the ship’s Colt machine guns to local officials. “This gun, firing some 500 shots a minute, produced a vivid impression here,” Loomis wrote in a report. Following his retirement, Butler became an outspoken critic of American military adventurism, famously describing himself as “a racketeer, a gangster for capitalism” during his long military career. Those military involvements are often described as “forever wars” by parts of Trump’s MAGA base.
Source:Egypt Independent
January 10, 2026 09:36 UTC
Trump warns Iranian leaders that US “will start shooting, too”
President Donald Trump on Friday said the US is closely watching the situation in Iran and again warned leadership against using violence on demonstrators. “And again, I tell the Iranian leaders, you better not start shooting, because we’ll start shooting too,” Trump said during a meeting with oil executives at the White House. But he added that wouldn’t mean US “boots on the ground.”“If they start killing people like they have in the past, we will get involved,” Trump said. Trump did not specify which cities he was referring to. It is unclear whether protesters have taken control of any Iranian city.
Source:Egypt Independent
January 10, 2026 08:22 UTC
Swiss bar hit by deadly fire had not been inspected in five years
The Swiss bar hit by a deadly fire in the early hours of New Year’s Day had not been inspected in five years, local authorities said Tuesday. Le Constellation bar, where 40 people died in the inferno, had not had a fire inspection since 2019, the president of the Crans-Montana council said. Nicolas Féraud told journalists at a press conference that the council “bitterly regrets” the discovery of the lack of inspections at the establishment. From left to right, Francois Berclaz, Municipal Councillor of Crans-Montana, Nicole Bonvin Clivaz, Vice Mayor of Crans-Montana, Nicolas Feraud, Mayor of Crans-Montana, Patrick Clivaz, Municipal Councillor of Crans-Montana, speak at a press conference of the Crans-Montana Municipal Council. “This week has been very hard personally,” Féraud said as he wrapped up the press conference.
Source:Egypt Independent
January 08, 2026 14:47 UTC
International Consultant Mohamed El-Lethey Proposes 9 Comprehensive Strategies for Egypt to Navigate EU CBAM and Boost Export Competitiveness in 2026
According to Mohamed El-Lethey, International Consultant in Quality and Sustainability, these measures specifically target critical sectors including steel, cement, aluminium, fertilisers, electricity, and hydrogen. El-Lethey noted that the mechanism—aimed at preventing carbon leakage—affects industries making up 33% of GDP that rely on natural gas for 81% of energy. “Without action, losses could hit $1.2-1.8 billion annually from 8-12% cost increases,” he told reporters, citing aluminium (78% EU-directed, $1.8 billion), cement (1.2 million tonnes a year as EU’s No. “This creates a virtuous cycle of savings, resilience and leadership in MENA green exports, up 25% by 2030,” he said. A $2 billion sovereign green fund at 4% interest rates would mobilise FDI and public-private partnerships for retrofits.
Source:Daily News Egypt
January 08, 2026 14:18 UTC
What we know about the US seizure of a Russian-flagged oil tanker
United States forces boarded and seized a Russian-flagged oil tanker in the Atlantic Ocean Wednesday following a weeks-long chase on the high seas which has escalated tensions with Moscow and piled further pressure on its ally Venezuela. This photo posted by US European Command on Wednesday, January 7, 2026, shows the oil tanker Bella 1. Ahead of the vessel’s seizure, the Russian military had started to move around naval assets and a submarine to protect the ship, according to a US official. This photo posted by US European Command on Wednesday, January 7, 2026, shows the oil tanker Bella 1. In a separate operation Wednesday, the US said it seized an oil tanker called Sophia, in international waters near the Caribbean.
Source:Egypt Independent
January 08, 2026 13:25 UTC
FM calls for more efforts to stabilize Yemen, resume political process
CAIRO, Jan 6 (MENA) – Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty emphasized the need to intensify efforts to stabilize Yemen, reduce tensions, and create conditions for the resumption of the political process. He highlighted the importance of a comprehensive Yemeni-led dialogue aiming at a lasting political settlement that addresses the aspirations of the Yemeni people for security, stability, and development. During a meeting with the UN Special Envoy for Yemen Hans Grundberg, the minister reaffirmed Egypt’s firm support for Yemen’s unity, sovereignty, and territorial integrity, and underscored the need for preserving national state institutions to prevent further escalation and instability. Grundberg briefed Abdelatty on his ongoing efforts with key parties, lauding Egypt’s role in supporting de-escalation and stability in the region. He reiterated the importance of continued coordination with Egypt as a central regional player in supporting peace and security.
Source:Egypt Independent
January 08, 2026 11:01 UTC
FM holds talks Thursday with EU foreign policy chief
CAIRO, Jan 7 (MENA) — Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abbelatty will hold talks Thursday with Kaja Kallas, the High Representative of the European Union for Foreign Affairs and Security Policy. The meeting, which will take place at the Ministry of Foreign Affairs headquarters in the New Administrative Capital, will address the distinguished relations between Egypt and the European Union within the framework of their comprehensive strategic partnership, as well as regional and international issues of mutual interest. At the conclusion of the talks, Minister Abdelatty and the European official are scheduled to hold a joint press conference.
Source:Egypt Independent
January 08, 2026 11:01 UTC
Nestlé pulls baby milk batches amid safety fears
Swiss food giant Nestlé announced Wednesday night a recall of specific batches of infant and follow-on formula in the UK. The move comes amid concerns over the potential presence of a toxin that could cause nausea, vomiting, and abdominal cramps in infants. The FSA noted in its statement that cereulide is characterized by high stability, even when exposed to high temperatures. In a notice directed to consumers, Nestlé stated that no illnesses have been reported to date. “As a matter of extreme caution, the group has decided to voluntarily recall this product in accordance with our rigorous quality and safety protocols,” Nestlé added.
Source:Egypt Independent
January 08, 2026 08:33 UTC
Egypt’s gold reserves jump 71%, pushing total reserves to historic high
The Central Bank of Egypt (CBE) recorded an unprecedented milestone at the close of 2025, as the value of its gold reserves surged by approximately 71 percent year-on-year. This surge proved to be more than just a nominal gain; gold acted as a vital buffer, shielding Egypt’s international reserves from decline during periods of fluctuating liquid currency balances. This achievement was driven by a dual-catalyst: the sustained rally in global gold prices and the CBE’s proactive strategy of accumulating an additional 79,600 ounces throughout the year. According to the latest CBE data, total international reserves jumped by $1.236 billion in December alone, pushing the aggregate balance to a historic peak of $51.45 billion—the highest level in the nation’s history. Gold was the primary driver of this monthly growth, contributing $914 million to the increase, while liquid foreign currency holdings rose by $327 million to reach $33.23 billion.
Source:Egypt Independent
January 08, 2026 08:28 UTC
France, allies coordinate response to the United States threats to seize Greenland
France is working with its partners to develop a response plan should the United States carry out its threat to seize the Danish territory of Greenland, French Foreign Minister Jean-Noël Barrot said on Wednesday. Rubio’s comments followed increasingly sharp rhetoric from the White House regarding control of the island. President Donald Trump and senior administration officials have declined to rule out the use of force to seize the territory. White House spokesperson Karoline Leavitt said in a statement that Trump has made the acquisition of Greenland a “national security priority” necessary to deter adversaries in the Arctic region. Trump previously discussed the idea of purchasing Greenland during his first term, but has become more insistent on making the territory part of the United States.
Source:Daily News Egypt
January 07, 2026 20:13 UTC
Electricity, petroleum ministers review preparations to meet higher summer energy demand
Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Karim Badawi, Minister of Petroleum and Mineral Resources, held a meeting on Wednesday to review and assess the action plan as part of ongoing preparations to meet the expected increase in energy demand next summer, amid higher consumption and rising loads. During the meeting, the two ministers reviewed work plans, scenarios, and alternative options across the electricity and petroleum sectors to secure fuel supplies and ensure the stability and continuity of electricity generation. Esmat added that starting next week, new renewable energy capacities will begin to be connected to the grid, with a total of 2,500 MW expected to be added before next summer. He also stressed the continued implementation of the national energy strategy, diversification of power generation sources, expansion of renewable energy, and enhancement of its returns through the use of energy storage technologies. He pointed to plans to expand both grid-connected and standalone storage projects to strengthen grid stability during peak periods.
Source:Daily News Egypt
January 07, 2026 20:13 UTC
Public Enterprises Ministry, Future of Egypt discuss boosting industry cooperation
Minister of Public Enterprises Sector Mohamed Shimi received Head of Future of Egypt Authority for Sustainable Development Bahaa El-Ghannam, at the ministry’s headquarters in the New Capital to discuss ways to strengthen cooperation and advance strategic partnerships in support of the state’s sustainable development goals. The meeting reviewed a number of areas of mutual interest, most notably potential cooperation between the Future of Egypt Authority and the ministry’s affiliated companies in several sectors, including phosphate production, salt industries, and vehicle manufacturing. He stressed the importance of enhancing integration and cooperation with national entities, particularly the Future of Egypt Authority, given its extensive expertise and significant capabilities. For his part, Bahaa El-Ghannam stated that the coming period will witness expanded coordination and closer collaboration to implement joint projects. These initiatives aim to boost production, enhance sustainability, and create new job opportunities, thereby positively impacting the Egyptian economy.
Source:Daily News Egypt
January 07, 2026 20:13 UTC
Five-year CDS fall to lowest level since 2020: Finance Ministry
The Ministry of Finance announced that Egypt’s five-year credit default swap (CDS) prices fell below 270 basis points on 6 January, marking their lowest level since 2020. This development coincided with a notable decline in risk indicators in international markets and among investors, reflecting an improved assessment of the Egyptian economy. The observatory explained that the report relied on a selective presentation of data that failed to reflect the full and accurate picture. The report also overlooked other forms of debt, particularly external debt, creating the misleading impression that the debt stock increased by the full value of the issuances. The observatory stressed that such analysis is unsound, as changes in the debt stock are determined by net domestic and external borrowing, not by total issuances alone.
Source:Daily News Egypt
January 07, 2026 20:13 UTC
Egyptian, Omani foreign ministers back political settlements in Yemen and Sudan
Egyptian and Omani foreign ministers backed political settlements in Yemen and Sudan on Wednesday, while calling for the immediate lifting of the blockade on the Gaza Strip to allow for reconstruction. In a meeting held in Cairo, Egyptian Foreign Minister Badr Abdelatty and Omani Foreign Minister Sayyid Badr bin Hamad bin Hamood Albusaidi reaffirmed their support for the Yemeni-Yemeni dialogue in Riyadh. The ministers stated that the talks aim to reach a consensual settlement regarding the issue of southern Yemen and a comprehensive political solution that preserves the country’s sovereignty and unity. Regarding the conflict in Sudan, the two sides emphasised the importance of supporting national institutions and halting all military escalation. They called for the protection of civilians and the facilitation of humanitarian aid through United Nations agencies and civil society organisations, supporting a political solution that ensures Sudanese sovereignty.
Source:Daily News Egypt
January 07, 2026 19:24 UTC
Banking sector’s net foreign assets rise to $23.73bn in November 2025: CBE
The CBE noted that net foreign assets have maintained an upward trajectory for the sixth consecutive month. Net foreign assets represent the difference between foreign currency assets, such as deposits and securities, held by the central bank and commercial banks, and their foreign currency liabilities. Egypt’s banking sector slipped into negative net foreign assets in February 2022, amid a foreign currency shortage triggered by the Russia–Ukraine war and global inflationary pressures. Banking expert Mohamed Abdel Aal attributed the recent increase in net foreign assets to stronger foreign currency inflows, particularly from remittances, exports, and tourism revenues. The increase in net foreign assets to $23.732bn in November 2025 is therefore not only a statistical improvement, but also a clear signal of foreign currency stability and the Egyptian economy’s recovery from previous crises.
Source:Daily News Egypt
January 07, 2026 19:22 UTC