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The Latest Breaking News from Egypt

Egypt Signs $1.5 Bln Financing Agreement with ITFC

Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation (ITFC). The deal aims to fund Egypt's trade needs, including for importing energy products and essential commodities, CNBC Arabia wrote on Twitter, citing the ITFC’s chief executive officer. Last year Egypt signed a similar agreement,…

Asharq Al-Awsat

Can reading help heal us and process our emotions – or is that just a story we tell ourselves?

The oldest known library, dating back to the second millennium BC, in Thebes, Egypt, reportedly bore a sign above its portals in Greek: Psyches Iatreion, translated as “healing place of the soul”.

The Conversation

Italy’s FM Meets with Egyptian Officials on Migration, Libya

Italy’s chief diplomat held talks Sunday with Egyptian and Arab League officials in Cairo that focused on regional security and the conflict in neighboring Libya, as well as bilateral issues. Foreign Minister Antonio Tajani said his meeting with President Abdel Fattah al-Sisi covered energy security and economic cooperation in the…

Asharq Al-Awsat

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Italy's foreign minister eyes migration, energy on trip to Cairo

Italy's Foreign Minister said on Sunday his country saw Egypt as an important partner in stemming irregular migration across the Mediterranean and in bolstering its energy security.

Reuters

Italy's FM meets with Egyptian officials on migration, Libya

Italy’s chief diplomat has held talks Sunday with Egyptian officials in Cairo that focused on ties between the two countries, migration, and the political stalemate in the conflict-stricken Libya

The Independent UK

Egypt, Sudan Seek to Boost Water Cooperation

Egypt and Sudan stressed on Saturday joint cooperation to address water resources and develop the work of the Egyptian-Sudanese Technical Authority for Nile water. Egypt's Minister of Irrigation and Water Resources Hani Sweilam met with his Sudanese counterpart Daw Al-Bait Abdul-Rahman in Khartoum. Sweilam hailed the deeply-rooted ties linking Egypt…

Asharq Al-Awsat

Founder of Egypt’s Juhayna Food Industries and his son released from prison

The founder and former CEO of Juhayna Food Industries and his son were released from prison in Egypt on Saturday after about two years in detention, according to a judicial source and a family member.

Reuters

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Egypt Says Nasrallah’s Statements About Economy Are 'Nonsense'

Spokesman for Egypt’s Ministry of Foreign Affairs Ahmed Abu Zeid on Friday called remarks by Hezbollah Secretary-General Hassan Nasrallah about the economic situation in Egypt “nonsense” and “an attempt to recall fake heroism.” Nasrallah’s statements are likely linked to Egypt snubbing Iranian attempts to open channels for communication between Cairo…

Asharq Al-Awsat

Fitch: Egyptian Banks’ Capital Ratios Can Withstand Further EGP Depreciation

Fitch Ratings lauded the agreement between the Egyptian government and the International Monetary Fund (IMF) in which Egypt secures a $3 billion loan over 46 months. Fitch Ratings added also said that Egyptian banks’ regulatory capital ratios can withstand further Egyptian pound depreciation as they are supported by healthy internal…

Asharq Al-Awsat

Middle East round-up: Egypt economy pounded

Here’s a round-up of Al Jazeera’s Middle East coverage this week.

Al Jazeera

Egyptian Exports Grow to $54 Bln

Egyptian Prime Minister Mostafa Madbouly said Wednesday initial figures show that Egyptian exports reached $53.8 billion in 2022, an increase of 20 percent from last year. For his part, Egyptian Minister of Trade and Industry Ahmed Samir stated that despite the challenging global circumstances, the non-petroleum exports of Egypt registered…

Asharq Al-Awsat

Nemat Shafik is named the first woman to be president at Columbia University

Shafik, who was born in Egypt and grew up in the United States, has extensive experience across global financial institutions and higher education.

WEKU

Egypt Sees High Demand from Investors after Currency Drop

Egypt is seeing good investor appetite for stakes in its state-owned enterprises, the country's planning minister said on Wednesday, as the government pursues partial privatizations to drum up funds after a sharp fall in the value of its currency. Egypt, faced with a currency crunch exacerbated by the war in…

Asharq Al-Awsat

Egyptian-Jordanian-Palestinian Summit Rejects ‘Israeli Unilateralism’

Egyptian President Abdel Fattah al-Sisi hosted on Tuesday Jordanian King Abdullah II and Palestinian President Mahmoud Abbas at a tripartite summit in Cairo to discuss the Palestinian issue. The summit was held in wake of recent developments in the occupied Palestinian territories and the regional and international situations related to…

Asharq Al-Awsat

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Asharq Al-Awsat

Egypt Tackles Saudi Investors Problems in Real Estate, Industrial Projects

Egyptian Prime Minister Mostafa Madbouly stressed the importance his government attaches to solving problems that local and foreign investors face, as well as creating a more attractive climate for investments in the country. In remarks during a meeting with a group of Saudi investors in Egypt on Tuesday, Madbouly said…

Al Jazeera

As economic crisis deepens, will Egypt slow megaprojects down?

The IMF announced an ambitious reform programme for Egypt’s economy, but analysts cast doubt on its effectiveness.

Asharq Al-Awsat

Young Egyptians Battle Plastic Plague

Entrepreneurial young Egyptians are helping combat their country's huge plastic waste problem by recycling junk-food wrappers, water bottles and similar garbage that usually ends up in landfills or the Nile. At a factory on the outskirts of Cairo, run by their startup TileGreen, noisy machines gobble up huge amounts of…

AFP

Out of Nile, into tile: Young Egyptians battle plastic plague

Cairo (AFP) - Entrepreneurial young Egyptians are helping combat their country's huge plastic waste problem by recycling junk-food wrappers, water bottles and similar garbage that usually ends up in landfills or the Nile.

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The Guardian - UK

John Foster obituary

Other lives: Artist and art teacher who spent the early part of his career drawing antiquities in Egypt

Asharq Al-Awsat

Saudi Arabia Stresses Agreement with Egypt on Regional, Int’l Issues

The Saudi government stressed on Tuesday its agreement with Egypt on several regional and international issues. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Riyadh. The cabinet underscored the ongoing coordination between Riyadh and Cairo in confronting challenges facing the…

Daily Mirror

Brit blocked from entering non-EU country due to post-Brexit passport rules

Jonathon Lane had to purchase an emergency passport and missed four days of his family holiday in Sharm el Sheikh, Egypt after easyJet staff stopped him from boarding at Gatwick Airport

Asharq Al-Awsat

Egypt’s Central Bank Monitors Return of Foreign Investors to Local Market

The Central Bank of Egypt said on Monday it was monitoring inflows from foreign investors that exceeded $925 million since Jan. 11. In a statement, the central bank said Egypt has received $925 million in indirect investments in local debt instruments since Wednesday, noting a significant increase in the country’s…

AFP

Egypt's economic turmoil squeezes struggling middle class

Cairo (AFP) - With Egypt's economy in crisis, the currency in freefall and inflation skyrocketing, the poor have been hit hard but the middle class is also teetering on the brink.

Reuters

Egypt to sell discounted bread to fight inflation

Egypt's government will start selling discounted bread to people not enrolled in its bread subsidy programme as it battles accelerating inflation, the supply minister said on Monday.

Asharq Al-Awsat

Egypt’s Gasc Sells Almost 300,000 T of Wheat via New Commodities Exchange

Egypt’s state grains buyer the General Authority for Supply Commodities (GASC) has sold around 300,000 tonnes of wheat via the new Egyptian Mercantile Exchange since its November launch, the exchange head Ibrahim Ashmawy said on Monday. The wheat was mostly of Russian origin with some German wheat also sold, Ashmawy…

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People

Hossein Amirabdollahian

King Salman bin Abdulaziz

Nemat Minouche Shafik

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