
IOM, Egypt, Japan Join Forces to Support Infrastructure of Southern Egyptian Border Crossing Points
On Wednesday, the International Organization for Migration (IOM) in Egypt handed over an electricity generator and 12 air conditioners (ACs) to the General Authority for Land and Dry Ports of the Egyptian Ministry of Transport to support operations at Egypt's Southern Border Crossing Points (BCPs) with Sudan.
This initiative is part of the ongoing strategic collaboration between IOM and the Government of Egypt, to facilitate dignified cross-border movements of individuals while ensuring a decent working environment for Egyptian officials, with thanks to the generous funding of the Government of Japan.
Since 2023, Egypt has become a key destination for migrants seeking refuge and stability within the MENA region, particularly those fleeing from conflict in Sudan. As movement through Egypt's southern border crossings with Sudan continues, strengthening border infrastructure remains essential; equipment is critical to ensuring support for vulnerable populations on the move.
'We are delighted to begin this vital partnership with the Ministry of Transport and eager to deepen and further expand it. This initiative complements other joint efforts between IOM and the Government of Egypt, whose commendable efforts in hosting migrants for decades contributes to safe and orderly migration.' said Mr. Carlos Oliver Cruz, Chief of Mission of IOM Egypt.
'I would also like to express IOM's gratitude to the Government of Japan, whose generous support has allowed us to implement several crucial projects spanning different areas of migration governance, in close coordination with our Egyptian counterparts.'
The electricity generator will serve as a reliable power source to sustain efficient cross-border operations the Egyptian Southern Border Crossing Points (BCP) with Sudan, while the ACs will help maintain a safe, hygienic, and decent environment for vulnerable migrants crossing the border as well as appropriate working conditions for the Egyptian officials at Egypt's Southern BCPs.
Provision of these items aligns with objectives of the Global Compact for Safe, Orderly, and Regular Migration (GCM), of which Egypt is a Champion Country. It particularly contributes to objective 11 "Manage borders in an integrated, secure and coordinated manner." It adds to a growing list of commendable actions taken by the Government of Egypt to support migrants and address migration-related challenges in line with the commitment of Egypt to the international law and relevant standards.
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
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
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
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


See - Sada Elbalad
an hour ago
- See - Sada Elbalad
Trump Heads to Alaska for Summit with Putin on Ending Ukraine War
Taarek Refaat U.S. President Donald Trump departed for Alaska today ahead of a highly anticipated summit with Russian President Vladimir Putin, in what many observers see as a pivotal moment in efforts to end the war in Ukraine. The 'Alaska Summit,' set to take place over the weekend, has drawn global attention amid hopes that the meeting could pave the way for a negotiated settlement to a conflict that has strained international relations, disrupted global supply chains, and weighed heavily on the world economy. Speaking to reporters before boarding Air Force One, Trump described the summit as 'an unprecedented opportunity to achieve peace in this region and bring an end to a war that has cast a long shadow over the global economy.' While details of the agenda remain closely guarded, sources familiar with the talks say discussions will focus not only on the cessation of hostilities but also on post-war security arrangements, humanitarian aid, and the rebuilding of Ukraine's war-torn infrastructure. International analysts note that the choice of Alaska, a U.S. state geographically closer to Russia than any other, underscores both the symbolic and practical significance of the meeting. The location is seen as neutral ground that avoids the political baggage of holding talks in Washington, Moscow, or Europe. Diplomatic circles remain cautiously optimistic, though skepticism lingers about whether the deep-rooted tensions between Washington and Moscow can be overcome in a single round of negotiations. Still, the very fact that both leaders have agreed to meet face-to-face is being hailed as a rare opening in a war that has entered a grinding and costly phase. The summit comes amid growing domestic and international pressure on both sides to find a path toward peace, with humanitarian organizations warning of a worsening crisis as winter approaches in Ukraine. For now, the world watches as Alaska becomes the unlikely backdrop for what could be one of the most consequential diplomatic encounters in recent history. 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 Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated


El Fagr
4 hours ago
- El Fagr
EFG Holding Preserves Growth Momentum، Demonstrating Resilient Performance in the Second Quarter Results of 2025
EFG Holding، a financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA)، announced today its results for the second quarter of 2025. The Group's revenues recorded a 21% Y-o-Y increase to reach EGP 6.1 billion، driven by strong results across all business lines، particularly EFG Finance، its non-bank financial institutions (NBFI) platform، and Bank NXT، its commercial bank. The Group's total operating expenses (including provisions & ECL) increased 22% Y-o-Y to EGP 4.1 billion، on higher provisions & ECL، predominantly in EFG Finance، and higher other G&A expenses. Meanwhile، employee expenses were flat Y-o-Y. With the increase in revenues surpassing the increase in expenses، EFG Holding's net operating profit and net profit before taxes increased 19% Y-o-Y and 21% Y-o-Y، respectively. Consequently، net profit after tax and minority interest inched up 2% Y-o-Y to reach EGP 802 million in 2Q25. Karim Awad، Group CEO of EFG Holding، commented، 'Our second quarter results demonstrate the continued resilience and strength with which EFG Holding operates، supported by its diversified platform and strong geographic footprint. EFG Holding's first half of 2025 has been defined by meaningful milestones and strong momentum. Foremost among these is Valu's listing on the Egyptian Exchange (EGX) in June، complemented by Amazon's decision to exercise its Option Agreement with EFG Holding to acquire a direct stake in Valu. The period's financial results highlight the standout performance of EFG Finance، driven by Valu and Bank NXT. Our Asset Management platform continues to expand، with assets under management growing، while the Investment Banking division closed transactions totaling more than USD 1 billion in the quarter. EFG Hermes، the investment bank، maintained its resilient performance for the second quarter of the year، with Holding & Treasury Activities، Brokerage، and the Buy Side revenues collectively rising 131% Y-o-Y. Although the Investment Banking business continues to demonstrate solid performance this quarter، Y-o-Y revenues appear lower due to an exceptionally high base in the comparative period. Excluding this high base effect، the underlying performance of the advisory business remains robust and promising. Thus، EFG Hermes' operating revenues came flat Y-o-Y at EGP 2.7 billion. Holding & Treasury Activities recorded a strong rebound، generating EGP 397 million in revenues versus a loss of EGP 503 million in 2Q24. Brokerage revenues rose 25% Y-o-Y، driven by higher revenues generated particularly by Egypt، followed by Kuwait and the UAE markets. EFG Hermes operating expenses (including provisions & ECL) inched up 3% Y-o-Y to EGP 2.2 billion، on higher other G&A expenses، higher provisions & ECL، and despite lower employee expenses. EFG Hermes reported net profit after tax and minority interest of EGP 268 million، down 11% Y-o-Y، on lower profitability generated by the Investment Banking division. EFG Finance، the Group's Non-Bank Financial Institutions (NBFI) platform، continued to deliver strong results in 2Q25، with its revenues surging 66% Y-o-Y to EGP 1.8 billion، supported by broad-based growth across all lines of business. Valu led the performance with a 71% Y-o-Y increase in revenues، driven by substantial securitization gains and higher net fees & commissions amid a rise in loan issuances، followed by Tanmeyah and Corp-Solutions، which continued its upward trajectory with Leasing's portfolio reaching EGP 17.7 billion in 1H25، increasing 102% Y-o-Y، fueled by targeted efforts to onboard large creditworthy clients. Valu issued EGP 4.7 billion worth of new loans in 2Q25، up 60% Y-o-Y. EFG Finance's operating expenses rose 82% Y-o-Y to EGP 1.2 billion، mainly due to inflation-driven G&A costs، higher provisions، increased employee expenses and one-time expenses related to Valu's listing. EFG Finance's net operating profit and net profit before taxes rose 39% Y-o-Y and 37% Y-o-Y، respectively، in 2Q25. However، net profit after tax and minority interest declined 15% Y-o-Y to EGP 230 million، due to higher minority interest charges following the distribution of Valu shares to EFG Holding's shareholders and the decline in EFG Holding's ownership from 95% to 67%. Bank NXT، the commercial bank، delivered a strong performance، delivering 30% Y-o-Y revenue growth to reach EGP 1.6 billion in 2Q25. This was primarily driven by higher net interest income، in addition to an increase in interest-earning assets. Operating expenses، including provisions & ECL، rose 23% Y-o-Y to EGP 694 million in 2Q25، primarily due to higher salaries، as well as higher other G&A expenses، which were offset by a 27% decline in provisions and ECL. The Bank's net profit after tax and minority interest added 39% Y-o-Y to reach EGP 304 million in 2Q25، as revenue growth outpaced the growth in expenses. 'Amid ongoing geopolitical volatility and persistent macroeconomic headwinds، market dynamics across the MENA region remained varied، both in terms of liquidity and overall performance. Nonetheless، the Brokerage business delivered notable growth in total executions، driven primarily by robust activity in Kuwait and the UAE. Bank NXT continued to broaden its portfolio، diligently cultivating a strong base that will underpin future growth and generate lasting value. Anchored by a solid foundation، the firm is well-positioned to adeptly navigate changing market conditions and confidently capitalize on emerging opportunities for the benefit of clients and shareholders alike،' concluded Awad.


See - Sada Elbalad
6 hours ago
- See - Sada Elbalad
Moscow Stands Firm on Ukraine as Putin-Trump Summit Looms
Ahmed Emam Moscow remains adamant on its conditions regarding the Ukraine conflict and has no intention of making concessions, according to Russian officials. The Russian delegation accompanying President Vladimir Putin has already reached its destination, while Putin himself had not yet departed Russian territory at the time of reporting. The flight from Moscow to the U.S. state of Alaska takes about 10 hours — roughly nine hours in Russian airspace and one hour in American skies. Upon arrival in Alaska, Russian Foreign Minister Sergey Lavrov said Moscow was bringing a 'clear position' to present to U.S. President Donald Trump during the much-anticipated summit. Lavrov described predicting the outcome as 'difficult,' but expressed hope the meeting could achieve shared objectives for both nations. He also hinted the summit's agenda could extend into the following day if progress is made. Russian official circles are reportedly optimistic about improving ties with Washington, with speculation about possible new economic and trade agreements. However, Russia remains unwavering in its stance on Ukraine, refusing to budge from conditions it set at the start of its military operation. This raises questions about what concessions Trump might offer during the talks, which are set to begin at 10:30 p.m. Moscow time. Some analysts suggest the two leaders could discuss a proposal to divide Ukraine into two spheres — eastern Ukraine under Russian control and western Ukraine either integrated into Poland or remaining under the current Ukrainian government, with possible U.S. security guarantees allowing Kyiv to join NATO. The Ukraine conflict is not the only topic on the table. Discussions are also expected to address nuclear arms control, the U.S. military presence in Europe, and international flashpoints including Syria, Iran, and the future of the Iranian nuclear deal. 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 Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated