Egypt may start to record no new coronavirus cases in July: Min.

FILE – Higher Education Minister Khaled Abdel GhaffarCAIRO – 21 May 2020: Egypt’s coronavirus cases is expected to reach around 20,000 by May 28th and to start recording lower number of cases starting June 7th, Minister of Higher Education and Scientific Research Khaled Abdel Ghaffar said on Thursday.In his speech during the inauguration of a developmental project in northern Egypt’s Alexandria attended by President Abdel Fattah El-Sisi, Abdel Ghaffar said the number of new coronavirus cases can decrease to reach zero after July 17th, after reaching around 37,000 cases.According to a hypothetical model the ministry adopts, which multiplies the counts by five, the actual number of cases in Egypt would be around 71,000 not 14,000, Abdel Ghaffar said, adding that no state can reach all the infected the cases especially that 80 percent of them show no symptoms.The death rate due to coronavirus in Egypt is undoubtedly 4.8 percent, he added.This comes while Egypt saw a striking surge in coronavirus (COVID-19) cases, as it has recorded 745 cases on Wednesday — 219 cases more than Monday. This brought the total number of cases in the northeastern African country to 14,229.The Health Ministry on Wednesday also reported 21 deaths due to the novel virus (COVID-19), bringing the death toll to 680.The test results of 4,584 people turned from positive to negative, the ministry said, including 3,994 people who totally recovered. It added that 252 patients left hospitals.Sisi has inaugurated the third stage of the "Bashayer El Khair" housing project in Alexandria on Thursday.Bashayer El Khair projects represent a quantum leap for developing slum areas in Alexandria. More than 50,000 citizens will benefit from this project which was accomplished in two years and half.Over 75 companies took part in the project.

Source:Egypt Today

May 21, 2020 10:07 UTC


Spanish Embassy and LaLiga launch "Spanish Sports Super Champion" contest

File- Juan Fuentes, LaLiga Delegate in Egypt, speaks to university studentsCAIRO_ 21 May 2020: The Spanish Embassy in Cairo and LaLiga are searching for the "Spanish Sports Super Champion" among thousands of Egyptians.The goal is to find the three Egyptian students that show the greatest passion and knowledge of Spain’s greatest sport.The Spanish Embassy will launch the online contest across all Hispanic Studies departments of universities across Egypt.The challenge involves a quiz of 35 questions - most of them about football. Once the students are assigned the task, their speed and knowledge will be key to their success, with the winners from each university being those who reply the quickest and with at least 20 correct answers.The winner of each university will be given an official LaLiga study kit.Out of all the participants, LaLiga and the Spanish Embassy will select one winner per university, who will go on to compete in a final phase to determine three overall winners.Those chosen from each university will be invited to a dinner and a guided tour of the LaLiga Lounge, the official LaLiga restaurant in Cairo and the only one of its kind currently in the world.The three winners will also receive an official LaLiga premium merchandising kit and will be invited to a lunch with the ambassador.The Spanish Embassy in Cairo and LaLiga have already rolled out a number of projects in conjunction with Egyptian universities that teach Hispanic Studies to thousands of students every year. "This project again highlights the close and ongoing relationship between the embassy and Hispanic Studies departments at Egyptian universities that promote Spanish as a study language," says Montserrat Momán, Cultural Counsellor at the Spanish Embassy in Cairo.Over the past year, both institutions visited many of the universities, imparting football and culture seminars.“It is a pleasure for LaLiga to get closer to the thousands of students who are interested in Spanish football, especially in times like these, and to offer an alternative form of entertainment to Egyptians from home aside from LaLiga matches. We will continue to work along these same lines,” added Juan Fuentes, LaLiga Delegate in Egypt.LaLiga has been recognized as an Honorary Ambassador for Brand Spain in the category of International Relations, in a ceremony presided over by the Spanish Monarchs last March. Collaborations between different Spanish embassies and LaLiga delegations overseas have grown in recent years as a result of LaLiga's internationalization strategy and of Spain’s important institutional presence abroad.

Source:Egypt Today

May 20, 2020 14:03 UTC


Egypt's central bank issues LE 20.2B in T-bonds, bills Wednesday

FILE - CBECAIRO – 20 May 2020: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 20.2 billion in treasury bonds and bills on Wednesday, May 20.The T-bills are at a value of LE 20.5 billion. They will be offered in two installments; the first installment is valued at LE 10 billion with a 182-day term and the second is worth LE 10.5 billion with a 357-day term.While the T-bonds will be offered at a value of LE 3.7 billion with a three-year term.For the current fiscal year, the budget deficit is estimated to record LE 445.1 billion, or 7.2 percent, planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided May 14 to keep the overnight deposit rate, the overnight lending rate, and the rate of the main operation at 9.25 percent, 10.25 percent, and 9.75 percent, respectively. Moreover, credit and discount rates are cut at 9.75 percent from 12.75 percent.Earlier, CBE decided in March to cut the overnight deposit rate, the overnight lending rate, and the rate of the main operation in an emergency meeting by 300 basis points.Egypt's 2020/2021 draft budget aims to reduce public debt of GDP to 82.7 percent by end of June 2021, up from earlier target of 82.5 percent by the end of June 2020 and to 77.5 percent by the end of June 2022.

Source:Egypt Today

May 20, 2020 12:33 UTC


Mogamma el-Tahrir: Renovated landmark in Tahrir Square shines like Paris

Mogamma el-Tahrir shines in Tahrir SquareMogamma el-TahrirThe Egyptian Museum in Tahrir SquarePrime Minister Mostafa Madbouli and Tourism and Antiquities Minister Khaled el-Anany at the Egyptian Museum in Tahrir Square May 17, 2020CAIRO – 18 May 2020: The iconic Tahrir Square was originally constructed in 1865 in the French style of the time because Khedive Ismail loved Paris. After a lot of renovation work in 2020, the Khedive’s wish is today closest to reality.Soon, the final look of the square will be revealed when the newly-transferred Karnak rams are uncovered. But on Sunday, the star of the square was Mogamma el-Tahrir, a massive building that hosts numerous government services.The Gamal Abdel Nasser-era structure overlooks the square, attracting thousands of visitors a day to finish paperwork. It became greyish and did not represent a pleasant tour for citizens.It has now been painted and illuminated in a modern technique that flatters its artistic design and to match the beauty of its surroundings as the square is being renewed into an open museum.An obelisk has been planted in the square, which is now surrounded by the covered rams. Palm trees, olive trees, and plants that represent the ancient Egyptian civilization have been grown in the square.A three-tier fountain around the obelisk will operate and benches will be available for passersby to watch the scenery.Prime Minister Mostafa Madbouli and Tourism and Antiquities Minister Khaled al-Anany visited Tahrir Square Sunday night to inspect the renovation work amid great care from the government to show the famous Tahrir Square in a truly beautiful look.The square, which is close to the Nile Corniche, leads to several landmarks, including the Egyptian Museum, the Khedive-era downtown, Qasr el-Nil Bridge, and other areas that are all important tourist attractions.

Source:Egypt Today

May 18, 2020 00:33 UTC


EgyptAir gets $2B supportive loan to face COVID-19 pandemic

EgyptAir jet - Official websiteCAIRO – 17 May 2020: EgyptAir Holding Company will receive LE 2 billion as a supportive loan to confront the repercussions of Coronavirus pandemic, Minister of Finance Mohamed Ma’it said Saturday.Ma’it added that the state treasury will bear the loan’s burden until the company achieves operating rates equivalent to 80 percent of the operating volume in 2019.The minister added that the suspension of air traffic globally as a result of the pandemic had a great impact on EgyptAir and its subsidiaries, as the revenues were completely stopped while continuing to bear the fixed expenses of workers wages and others.“This loan is part of the supportive procedures that the government has adopted to back the affected economic, social and service sectors because of the coronavirus outbreak in order to set the balance between keeping the people’s health safe, pursuing the production wheel, retaining the workforce, providing the domestic market needs, sustaining public services provided for citizens, and alleviating the harsh impacts of the crisis on the national economy,” Ma’it said.He pointed out that there are several facilities in support of the affected sectors, in respect of which Law No. 24 of 2020 was implemented, which has been in operation since the end of last March, including the financial rules required to deal with the repercussions of the coronavirus pandemic.The International Air Transport Association (IATA) announced in April that Egypt’s airline revenues were anticipated to decline by $1.6 billion, and the number of passengers to drop by 9.5 million in 2020 due to coronavirus pandemic.The aviation sector contributes to the Egyptian national economy with $2.4 billion and has created 205,560 jobs.On March 16, the Egyptian government decided to suspend air traffic at the Egyptian airports, from next Thursday to the end of March 2020. "Egypt will bear great losses, especially in the national aviation sector, after suspending air traffic until the end of March," Prime Minister Mostafa Madbouli said then.Madbouli added that the losses of the National Aviation Company, EgyptAir, will reach LE 2.250 billion as a result of the decision, explaining that the state will bear these losses.Finance Minister announced earlier the allocation of about LE 10 billion out of LE 100 billion allocated to counter the negative repercussions of coronavirus pandemic to sectors affected by the coronavirus, most notably tourism and aviation.

Source:Egypt Today

May 17, 2020 11:15 UTC


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