logo
Hassan Abdullah Receives "Governor of Year 2025" Award from Union of Arab Banks

Hassan Abdullah Receives "Governor of Year 2025" Award from Union of Arab Banks

Taarek Refaat
During the 2025 International Arab Banking Summit, held in Paris under the patronage of French President Emmanuel Macron, Hassan Abdullah, Governor of the Central Bank of Egypt (CBE), was honored with the prestigious "Governor of the Year 2025" award by the Union of Arab Banks.
The summit, which was organized by the Union of Arab Banks, took place under the theme "Economic Resilience in the Face of Geopolitical Changes," and featured cooperation with French, European, and international banking federations.
Wissam Fattouh, Secretary General of the Union of Arab Banks praised Abdullah for his exceptional leadership and decision-making, noting that his bold decisions and strategic vision have been instrumental in managing challenging issues.
Fattouh highlighted Abdullah's role in formulating effective monetary policies, as well as his distinguished supervisory and oversight role over Egypt's banking sector.
He further elaborated that Abdullah's most significant achievements included recalibrating Egypt's monetary policy to align with the broader economic objectives, regulating the foreign exchange market, and implementing reforms that led to a record high of over $47 billion in foreign exchange reserves in 2024—the highest level in the country's history.
He also acknowledged the CBE's successes under Abdullah's leadership, particularly in facilitating remittances from Egyptians abroad and spearheading numerous strategic projects that contributed to Egypt's economic resilience.
Given these significant accomplishments, Abdullah's leadership has rightfully earned him the title of Banker of the Year 2025.
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
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
Videos & Features
Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
News
Shell Unveils Cost-Cutting, LNG Growth Plan
Technology
50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
News
3 Killed in Shooting Attack in Thailand

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Maersk Suspends Shipping to Haifa amid Ongoing Israel-Iran Conflict
Maersk Suspends Shipping to Haifa amid Ongoing Israel-Iran Conflict

See - Sada Elbalad

time27 minutes ago

  • See - Sada Elbalad

Maersk Suspends Shipping to Haifa amid Ongoing Israel-Iran Conflict

Taarek Refaat Maersk, the world's second-largest shipping company, has announced the suspension of all ship calls to the Israeli port of Haifa due to the ongoing conflict between Israel and Iran. The decision comes as the situation in the region continues to escalate, raising concerns about the safety of international shipping routes. In a statement released on Friday, Maersk confirmed that its vessels would no longer dock at the Port of Haifa, citing the growing risks posed by the conflict and the safety of its crew members as the primary reasons for the move. The company emphasized that the suspension was a temporary measure, taken to mitigate potential hazards amid the hostilities. "Given the ongoing conflict between Israel and Iran, and the potential risks associated with docking at Israeli ports, we have made the decision to temporarily suspend the calls of Maersk-operated ships at the Port of Haifa," the company stated. "We will continue to operate as usual, with no further disruptions to our operations in the region." Maersk's suspension of services to Haifa does not mean a complete withdrawal from Israeli ports, however. The company confirmed that its vessels will continue to call at the southern port of Ashdod, located further from the conflict zone. Escalating Tensions in the Middle East The decision follows a dramatic escalation of hostilities between Israel and Iran, which intensified on June 13 when Israel launched airstrikes against Iran. The Israeli government claimed it had intelligence indicating that Iran's nuclear program was nearing what it described as the "point of no return." In retaliation, Iran launched a series of missile strikes on Israeli cities, marking a significant escalation in the conflict. According to official reports, Israeli airstrikes have resulted in at least 224 deaths in Iran since the start of the conflict. On the Israeli side, Iranian missile attacks have killed 25 people. The toll of the war continues to rise, with both sides exchanging fire in an increasingly volatile region. Global Disruptions and Airline Cancellations In addition to disruptions in maritime shipping, the conflict has also impacted global air travel. On June 15, Israeli airline El Al announced the cancellation of several flights to European cities, as well as destinations in Tokyo and Moscow, due to the threat of Iranian missile attacks. The airline's move reflects the growing uncertainty and risk for both commercial aviation and shipping in the region. As the conflict rages on, international companies like Maersk and others in the global logistics industry are closely monitoring the situation. The broader geopolitical consequences of the war have raised concerns over the stability of critical shipping lanes and air routes, further exacerbating tensions in a region already fraught with instability. Looking Ahead The conflict between Israel and Iran shows no signs of abating, and the impact on global commerce continues to deepen. As companies like Maersk reassess their operational strategies and take precautions to ensure the safety of their personnel and assets, the broader international community remains vigilant, hoping for a de-escalation of tensions in the Middle East. For now, Maersk's suspension of its calls to Haifa highlights the growing complexities and risks of doing business in a region marked by uncertainty and open conflict. The situation is being closely watched, with many industries bracing for further disruptions. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 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 Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand

FedEx Suspends Shipments to Israel amid Rising Regional Tensions
FedEx Suspends Shipments to Israel amid Rising Regional Tensions

See - Sada Elbalad

time27 minutes ago

  • See - Sada Elbalad

FedEx Suspends Shipments to Israel amid Rising Regional Tensions

Taarek Refaat FedEx, the global logistics giant, has temporarily suspended shipments to Israel and Iraq due to escalating tensions in the Middle East. The company announced the decision on its official website on Friday, citing security concerns as the region grapples with growing instability between Israel and Iran. FedEx, listed on the New York Stock Exchange under the symbol "FDX.N," confirmed that it has also halted some of its flights to destinations in the region. The company emphasized that the safety of its employees, customers, and the communities it serves remains its top priority. "As we closely monitor developments in the region, we are adjusting our operations based on safety requirements and the evolving situation on the ground," a FedEx spokesperson stated. This decision by FedEx follows a similar move by Danish shipping giant Maersk, which announced the temporary suspension of its maritime services to the Israeli port of Haifa due to security concerns related to the ongoing conflict between Israel and Iran. The ripple effects of these moves are expected to impact global supply chains, with disruptions to shipments and trade flows. The Middle East, a crucial hub for trade and logistics, has already seen a slowdown in economic activity due to the political instability, and further suspensions could exacerbate the situation. As tensions continue to rise, companies in the logistics and shipping sectors are likely to remain cautious in their operations. The ongoing situation highlights how geopolitical conflicts can quickly extend beyond national borders, influencing international commerce and the movement of goods. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 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 Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand

5.2 Magnitude Earthquake Strikes Iran amid War with Israel
5.2 Magnitude Earthquake Strikes Iran amid War with Israel

See - Sada Elbalad

timean hour ago

  • See - Sada Elbalad

5.2 Magnitude Earthquake Strikes Iran amid War with Israel

Rana Atef On Friday, a 5.2-magnitude earthquake struck northern Iran, according to the US Geological Survey. The earthquake came amid the escalating military tensions and exchanged strikes between Iran and Israel. Iran's Tasnim news agency announced that the earthquake measured 5.2, struck at a depth of 10 kilometres, about 37 kilometres southwest of the city of Semnan. The quake's epicentre was outside the city of Semnan, around 210km east of the capital. 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 Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store