The Central Bank of Egypt (CBE) on Tuesday reported a decrease in Egypt’s external debt, which now stands at $160.607bn as of March 2024. According to the CBE’s report released on Tuesday, the long-term external debt decreased to $135.257bn in March 2024, compared to $138.551bn in 2023. The government’s outstanding external debt followed a similar trend, declining to $82.206bn in March 2024, from $84.849bn in December 2023. The CBE report also highlights other sectors with outstanding external debt, totaling approximately $12.337bn by the end of March 2024. The breakdown includes $12.337bn in long-term debt and $4.824bn in short-term debt.
Source:Daily News Egypt
July 03, 2024 03:08 UTC
CAIRO - 2 July 2024: Government sources told et that pilot Sameh Al-Hafni was nominated to be the new Minister of Civil Aviation, succeeding Lieutenant General Muhammad Abbas Helmy, as part of the government reshuffle. In the below lines, et highlights information about the newly nominated Minister of Aviation, Pilot Sameh El-Hafny:He is a man with great competence and experience in the civil aviation sector, as he held several important positions in Egyptian civil aviation during his career, inculding:– He was the president of the Holding Company of the Egyptian Academy of Aviation Sciences. – Pilot Sameh El-Hafny worked as a pilot for the Airbus 330/340. – He was also the chairman of the Egyptian Civil Aviation Authority in 2018. - The International Civil Aviation Organization (ICAO) chose him in 2021 to occupy the position of Egypt’s permanent representative and a member of the international organization’s Board of Directors.
Source:Egypt Today
July 03, 2024 02:32 UTC
Mohamed Gibran, the acting president of the Workers' Union, is being considered for the position of Minister of Labor, succeeding Hassan Shehata,CAIRO - 2 July 2024: An informed source revealed to Extra News that Mohamed Gibran, the acting president of the Workers' Union, is being considered for the position of Minister of Labor, succeeding Hassan Shehata, as part of the cabinet reshuffle. Key Facts About Mohamed GibranMohamed Abdel Aziz Gibran Abdel Halim, known as Mohamed Gibran, holds a Bachelor's degree in Commerce. Gibran's Union RolesElected as Secretary-General of the General Petroleum Workers' Union in 2013 for a four-year term. Headed the labor delegation to the 2023 International Labor Conference in Geneva, Switzerland. Headed the labor delegation to the 2024 International Labor Conference in Geneva, Switzerland.
Source:Egypt Today
July 03, 2024 01:22 UTC
Egypt’s Minister of Health and Population, Khaled Abdel Ghaffar, met with Ahmed Al-Shazly, the Regional Director of Pfizer for Egypt, Sudan, the Levant, and Iraq. The discussion focused on strengthening collaboration across various health fields to improve public health and well-being. Hossam Abdel Ghaffar, the official spokesperson for the Ministry of Health and Population, emphasized that the ongoing partnership between the ministry and Pfizer aims to enhance Egypt’s health sector by providing high-quality health services and raising awareness among citizens. He supported the continuous development witnessed by the health sector in Egypt, praising the distinguished and fruitful cooperation with the company during the previous years. The spokesperson indicated that the meeting discussed also enhancing cooperation between the Ministry and the company to address and treat haemophilia by providing the latest medicines, as well as building and refining the skills of specialized medical personnel, pointing to working through a strategic partnership to develop the health system in Egypt.
Source:Daily News Egypt
July 02, 2024 22:12 UTC
The Central Bank of Egypt (CBE) revealed that non-governmental foreign currency deposits (FCDs) in banks operating in the Egyptian market increased by $1.2bn during the first five months of this year. The foreign currency deposit balances rose from $50.4bn in December 2023 to $51.6bn in May 2024. In May alone, non-governmental foreign currency deposits in banks increased by approximately $780m. The growth in foreign savings flowing into banks had a positive impact on the net foreign assets owned by banks and the central bank. Net foreign assets at commercial banks alone rose to about $32.2bn in May, compared to $24.95 bn in April—an increase of approximately 29%.
Source:Daily News Egypt
July 02, 2024 21:17 UTC
CNN —Ukraine has foiled an alleged plot to overthrow the government that “would have played into Russia’s hands,” security officials in the war-torn country said Monday. In a Telegram post, the Security Service of Ukraine (SBU) claimed the alleged coup organizers planned to trigger a riot in Kyiv on June 30 as a distraction to seize control of the Ukrainian parliament and remove the military and political leadership from power. Concerns have grown over the future of US military support for Ukraine with the potential for another Donald Trump presidency on the horizon. During last week’s presidential debate, Trump questioned whether the United States should continue to fund Ukraine’s fight against Russia. Trump’s comments on the war in Ukraine were “worrying,” Ukrainian politician Oleksiy Goncharenko told CNN.
Source:Egypt Independent
July 02, 2024 19:35 UTC
Washington CNN —President Joe Biden on Monday condemned the Supreme Court’s decision which ruled that presidents have an absolute immunity from prosecution for core official acts, and issued a stern warning over a possible second term for former President Donald Trump. “(With) today’s Supreme Court decision on presidential immunity, that fundamentally changed. Biden repeatedly warned that the limits of the president’s power now solely rest with the holder of the office and the choices that person makes. During Monday’s speech, Biden appeared alert, reading energetically from a teleprompter in the Cross Hall of the White House. Here’s what she said – she said, ‘In every use of official power, the president is now a king above the law.
Source:Egypt Independent
July 02, 2024 19:35 UTC
However, the Nile River is facing a number of threats, including pollution, encroachment, and climate change. The Egyptian government is committed to protecting the Nile River and has implemented a number of measures to do so. The removal of encroachments is an important part of the Egyptian government's efforts to protect the Nile River. In 2015, the government launched the "Save the Nile River" campaign. The Egyptian government's efforts to protect the Nile River are essential to ensuring the long-term sustainability of the river.
Source:Egypt Today
July 02, 2024 17:37 UTC
CAIRO - 2 July 2024: Egyptian Foreign Minister Sameh Shoukry outlined Egypt's ongoing efforts to halt the war in Sudan. This necessitates African countries adopting a comprehensive vision to confront the challenges of peace, security, and development. The fourth edition also coincides with the twentieth anniversary of the establishment of the African Peace and Security Council, adding to its significance. Additionally, the Foreign Ministry spokesman mentioned that Shoukry participated in the first thematic session of the forum titled "Diverging Worlds... Connecting Peace, Security, and Development in a Fragmented World."
Source:Egypt Today
July 02, 2024 10:35 UTC
The Egyptian Real Estate Platform has entered into a strategic commercial agreement with New Avenue for real estate consultancy. Under this agreement, 300 real estate agents will be listed on the platform, showcasing their units. The signing took place between Ahmed Elbatrawy, founder and CEO of the Egyptian Real Estate Platform, and Ahmed El-Dessouki, Managing Director of New Avenue. Ahmed Albatrawy emphasizes that New Avenue was carefully chosen due to its technological advantage and alignment with the vision of the Egyptian Real Estate Platform. Ahmed El-Desouki, Managing Director of New Avenue, expresses confidence in their presence on the Egyptian Real Estate Platform.
Source:Daily News Egypt
July 02, 2024 09:41 UTC
CAIRO – 02 July 2024: Egypt's tourism sector raked in $6.6 billion in revenues during the first half of 2024, marking a 5 percent increase from the $6.3 billion generated in the same period of 2023 and an 18 percent jump from the $5.6 billion recorded in 2010, a peak year for tourism. Egypt welcomed 7.069 million tourists between January and June 2024, surpassing the previous high of 7.062 million recorded during the same period in 2023. This surpasses the 67.6 million nights recorded in 2023 and 65.7 million nights in 2010. It's worth noting that 2023 witnessed the highest influx of tourists in Egypt's tourism history, with a record-breaking 14.906 million visitors. This growth builds on Egypt's ambitious goal of reaching 30 million tourists by 2028.
Source:Egypt Today
July 02, 2024 08:41 UTC
The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has introduced a groundbreaking product to empower young entrepreneurs. This initiative provides financial and non-financial services to facilitate the establishment and growth of various projects. In honour of World Micro, Small, and Medium Enterprises Day, MSMEDA has unveiled a funding program specifically tailored for entrepreneurship, innovation, and technology projects. Eligible ventures include those developing new technological products, enhancing production technology, and exploring digital transformation and artificial intelligence. Beyond financial support, young entrepreneurs can access various non-financial benefits through MSMEDA.
Source:Daily News Egypt
July 01, 2024 21:59 UTC
Yasmine Fouad, Egypt’s Minister of Environment, recently highlighted the country’s commitment to the green economy. Through well-defined legislation and incentives, Egypt aims to promote sustainable practices and engage the private sector. Here are the key points from her statement:Egypt has introduced clear regulations to support the green economy. The National Council for Climate Change, chaired by the Prime Minister, monitors climate strategy implementation. Fouad highlighted the importance of all sectors—agriculture, industry, research centres, youth, and others—working together on the green economy and environment.
Source:Daily News Egypt
July 01, 2024 21:59 UTC
CAIRO – 1 July 2024: The Egyptian gazette published Monday a decree issued by the minister of interior to deport four Syrian nationals in accordance with residency law no. 89/1960 and two reports prepared by the Department of Passports, Migration and Citizenship. Those are Ayman Mohamed Al Zubaidy and Mohamed Aqil Gork Hagy (both born in 1982), Emad Ahmed Qattan (born in 1973), and Mohamed Yaman Mohamed Kanan Qatergy (born in 1983). The Municipal Authority of Giza announced shutting down Thursday six unlicensed Sudanese schools in Shabramant and arresting their directors for interrogation. In the same context, the Cabinet has set June 30, 2024 as the deadline for illegal migrants to apply on residence in Egypt or face legal action.
Source:Egypt Today
July 01, 2024 17:59 UTC
Apex International Energy announced Monday a positive update on its operations and commercial developments in Egypt’s Western Desert for the first half of 2024. The company reported reaching a production milestone of 12,000 barrels of oil equivalent per day (boepd) and a 14% increase in audited 2P reserves to 29 million barrels of oil equivalent (mmboe). In the Zarif field, both the Zarif 47 and Zarif 49 wells have been completed as producers and put into operation. Gas production from the Faramid project in the East Obaiyed concession remains steady at approximately 23 million cubic feet per day. “Tom’s extensive experience and especially his years in Egypt and the Western Desert will help Apex to continue its growth trajectory and progress.
Source:Daily News Egypt
July 01, 2024 15:15 UTC