President al-Sisi Signs Law to Authorize Finance Minister to Guarantee Egypt Aluminum Company
President Abdel Fattah al-Sisi signed on Wednesday 5/2/2025 Law No. 1 of 2025 authorizing the minister of finance, on behalf of the government, to guarantee Egypt Aluminum Company, an affiliate of the Metallurgical Industries Holding Company, in implementing its commitments.
The authorization aims at guaranteeing the company's implementation of its financial commitments in line with the energy purchase agreement (PPA) between Egypt Aluminum Company and Norway's Scatec Company which carries out a P2P system project in Egypt.
The law was published in the official gazette on Wednesday5/2/2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
9 hours ago
- See - Sada Elbalad
Sisi, Macron Reaffirm Joint Coordination on Regional, Global Crises
Taarek Refaat Egyptian President Abdel Fattah El-Sisi received a phone call on Friday from French President Emmanuel Macron, during which the two leaders discussed escalating tensions in the Middle East and broader international developments, with a particular focus on the Palestinian issue and efforts to revive the two-state solution. According to a statement from Presidential Spokesperson Mohamed El-Shenawy, the conversation emphasized the importance of upholding international law and established international norms amid ongoing regional instability. Both presidents expressed deep concern over the risks of further escalation and stressed the urgent need for de-escalation and strategic dialogue. President Sisi and President Macron also reaffirmed their commitment to continued joint coordination in addressing regional and global crises. They highlighted the importance of maintaining close political consultation, especially in light of the complex and rapidly evolving geopolitical landscape. The two leaders further reiterated their mutual interest in strengthening bilateral relations, particularly in the fields of trade, investment, and economic cooperation, reinforcing the strong ties between Egypt and France. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
Mid East Info
11 hours ago
- Mid East Info
MoF Organises Workshop on Cabinet Resolutions Related to Outsourcing and Instalment of Debt Collection from Federal Entities
Workshop aims to enhance collection efficiency and support financial sustainability across federal entities In a step aimed at enhancing the efficiency of debt collection and supporting financial sustainability across federal entities, the Ministry of Finance (MoF) organised a specialised workshop in Dubai to discuss the provisions of Cabinet Resolution No. (14) and Cabinet Resolution No. (15) of 2025, concerning the outsourcing and instalment of the collection of debts owed to federal entities. The workshop was attended by directors of financial and legal affairs from various federal entities, as well as representatives from the Ministry's Government Revenue and Legal Affairs departments. The session comes as part of the Ministry's ongoing commitment to supporting federal entities in their capacity as creditors and parties responsible for the collection of dues, and to familiarise them with the mechanisms and procedures that allow for greater flexibility in implementing these resolutions. This, in turn, contributes to improving the efficiency of financial collections and raising levels of compliance, in line with Federal Decree-Law No. (15) of 2024. H.E. Saeed Rashid Al Yateem, Assistant Undersecretary for the Government Budget and Revenue Sector at the Ministry of Finance said: 'This workshop reflects the Ministry of Finance's commitment to enhancing transparency and efficiency in managing federal financial resources by empowering entities to implement the Cabinet resolutions on debt collection in a flexible and financially governed manner. Implementing outsourcing and instalment mechanisms is an important step toward advancing the federal financial system and ensuring financial sustainability. At the Ministry, we are keen to provide full support to federal entities and equip them with the tools and mechanisms needed to ensure the swift and effective implementation of these resolutions, thereby strengthening confidence in the federal financial system.' The workshop featured a detailed explanation of the legal and regulatory frameworks related to the Cabinet Resolutions, in addition to discussions around proposed execution models for outsourcing and instalment. The session also addressed how to integrate these mechanisms into the financial systems and procedures of federal entities. Furthermore, it provided a platform to respond to participants' queries and facilitated knowledge exchange among the various concerned parties.
See - Sada Elbalad
a day ago
- See - Sada Elbalad
Egypt, Germany Discuss Gaza Ceasefire, Bilateral Cooperation
H-Tayea President Abdel Fattah El-Sisi held a phone call on Thursday with German Chancellor Friedrich Merz to congratulate him on his electoral victory. President El-Sisi expressed his best wishes for the new German government and praised the trust placed in Chancellor Merz by the German people. He emphasized the critical importance of the current moment in light of rapidly evolving regional and international dynamics and highlighted the urgent need to uphold the principles of international law and long-standing global norms—an area in which Germany has extensive experience. According to Presidential Spokesperson Ambassador Mohamed El-Shenawy, President El-Sisi underlined Egypt's desire to strengthen its close partnership with Germany, particularly in economic, trade, and investment sectors, as well as in development cooperation that benefits both nations. Chancellor Merz thanked President El-Sisi for the congratulatory gesture and affirmed Germany's commitment to its strong ties with Egypt. Both leaders agreed on the need to deepen bilateral relations across all fields and to continue coordination on regional stability and development. The call also addressed ongoing regional and international issues. President El-Sisi outlined Egypt's efforts to broker a ceasefire in Gaza and stressed the need for the international community to push for an immediate end to military operations in the Strip. He reiterated Egypt's total rejection of any forced displacement of Palestinians and emphasized the importance of expanding international recognition of the State of Palestine in line with the two-state solution. The leaders also discussed developments in Syria, Lebanon, Libya, Sudan, and Somalia. Chancellor Merz expressed Germany's interest in maintaining close coordination with Egypt to restore stability and peace across the Middle East. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
