Elon Musk leaves white house
Basant Ahmed
Elon Musk, who has been one of Donald Trump's closest and most influential allies, has officially left the administration 128 days into the President's second term.
On Wednesday, Musk took to his own social media platform
X
to share the news. 'As my scheduled time as a Special Government Employee comes to an end, I would like to thank President [Donald Trump] for the opportunity to reduce wasteful spending,' Musk wrote. 'The [DOGE] mission will only strengthen over time as it becomes a way of life throughout the government.'
AP
confirmed Musk's exit from a White House staffer who asked to remain anonymous.
The role was never meant to be permanent. As Musk notes, he had only a certain number of days to serve as a 'special government employee.'
According to the
U.S. Department of the Interior
, an individual designated with the title can only serve for '130 days during any period of 365 consecutive days.'
Musk's departure from the Trump administration comes just one day after the Tesla founder criticized Trump's 'big, beautiful bill,' which seeks to create major tax breaks for the wealthy, while also allocating more funds to military spending and immigration issues. This would all come at the cost of slashing clean energy, nutrition, education, and health programs.
'I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it,' Musk told
CBS' 'Sunday Morning.'
He went on to say that the bill 'undermines the work' of his Department of Government Efficiency, or DOGE, adding that the proposed legislation 'can be big or it could be beautiful. But I don't know if it could be both.'
Musk spent more than $250 million on Trump's campaign and joined within the first days of his second term as a 'special government employee' tasked with slashing excessive government spending.
When he joined the administration, he set forth to reduce the federal budget by $1 trillion, a goal he fell well short of, according to the
New York Times
.
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
Egypt confirms denial of airspace access to US B-52 bombers
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
News
Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content
Arts & Culture
Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Sports
Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
News
Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies
Arts & Culture
New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
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
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
Egypt's Dar al-Ifta Issues Fatwa Permitting Delegated Hajj Due to Illness
Mohamed Mandour Egypt's Dar al-Ifta has issued a religious ruling (fatwa) permitting individuals suffering from chronic illness or old age to commission others to perform the Islamic pilgrimage of hajj on their behalf. The fatwa, grounded in Islamic tradition, cites a narration from Abdullah Ibn Abbas in which a woman sought the Prophet Muhammad's guidance about her elderly father's inability to undertake the hajj pilgrimage. The Prophet reportedly responded affirmatively, permitting her to perform hajj on his behalf — a narration found in the collections of Bukhari and Muslim. According to the fatwa, those classified as ma'dub — individuals permanently incapable of travel due to health or age — may delegate someone else to fulfill the religious obligation. Dar al-Ifta outlined several conditions for the permissibility of such delegation: The expenses for the pilgrimage must come from the person commissioning the hajj, whether living or deceased, or from donated funds if the deceased did not leave instructions. The person performing the hajj must clearly intend to do so on behalf of the one who is unable to go. The agent must have already completed their own obligatory hajj. The ruling underscores Islamic jurisprudence's flexibility in accommodating individuals facing physical hardship. 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 Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple 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
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
Gold Swings Between Dollar Pressure ,Trump's Surprises
Waleed Farouk Gold prices fell slightly in local markets during trading on Saturday, coinciding with the global stock market's weekly holiday. The ounce ended the week with a 2% decline, amid a combination of mixed economic data and the political controversy surrounding tariffs in the United States. Gold prices fell in local markets by about 15 Egyptian pounds during trading today, compared to yesterday's close. The price of a gram of 21-karat gold reached 4,590 Egyptian pounds, while the price of an ounce of gold closed the week at $3,358, a decline of $68. The price of a gram of 24-karat gold reached 5,246 Egyptian pounds, the price of a gram of 18-karat gold reached 3,934 Egyptian pounds, the price of a gram of 14-karat gold reached about 3,060 Egyptian pounds, and the price of a pound of gold reached about 36,720 Egyptian pounds. Gold prices in local markets fell by EGP 15 during trading on Friday. The price of a gram of 21-karat gold opened at EGP 4,620 and closed at EGP 4,605. Meanwhile, an ounce fell by $27, opening at $3,317 and closing at $3,290. The slight decline in gold prices came despite a decline in US Treasury yields, supported by a firmer dollar, which limited gold's ability to achieve further gains. He stated that recent US inflation data, particularly the core personal consumption expenditures index, showed a decline in the pace of inflation, with the annual reading for April reaching 2.5% compared to 2.6% in March. Meanwhile, the overall inflation rate declined to 2.1% compared to 2.3% the previous month, increasing market expectations of an expected interest rate cut in 2025. Despite signs of a slowdown in inflation, gold prices failed to record a tangible recovery. The recovery in the US consumer confidence index, issued by the University of Michigan, from 50.8 to 52.2, and the improvement in GDP growth expectations, according to the Atlanta Federal Reserve, from 2.2% to 3.8%, also contributed to supporting the dollar's strength and reducing investor appetite for gold. Former US President Donald Trump reignited trade tensions following his statements accusing China of not adhering to the Swiss trade agreement, asserting that "China has completely violated the agreement," he said. Following these statements, markets witnessed noticeable confusion, with stock indices declining, while the dollar regained some momentum, leading to fluctuations in gold prices. In a notable development, a US Federal Appeals Court reinstated most of the tariffs Trump had previously imposed on April 2, known as "Liberation Day," after the International Trade Court invalidated them as illegal. Gold prices also jumped to over $3,363 per ounce, their highest level since early April, following Trump's surprise announcement of raising tariffs on imports from the European Union. However, he reversed the decision on Sunday evening, postponing implementation until July 9, based on what he said was a request from European Commission President Ursula von der Leyen. Despite recent volatility, data confirms that gold remains one of the most prominent beneficiaries of escalating geopolitical tensions and financial uncertainty, especially in light of expectations of interest rate cuts and increased risks associated with the dollar and paper currencies. The US core personal consumption expenditures (PCE) index for April showed an ongoing deflationary trend, driven by the Federal Reserve's tightening interest rates. The reading reached 2.5% year-on-year, down from 2.6%. The headline inflation rate was 2.1% year-on-year, lower than March's 2.3% increase. The University of Michigan Consumer Confidence Index improved in May from 50.8 to 52.2, exceeding estimates in its final reading. It's worth noting that inflation expectations have declined. Over the next 12 months, the forecast fell from 7.3% to 6.6%, and over the next five years, it fell from 4.6% to 4.2%. Following the release of the data, the Atlanta Federal Reserve's preliminary GDP Now reading for economic growth for the second quarter of 2025 rose sharply from 2.2% to 3.8%. Federal Reserve officials announced their findings on Thursday, confirming that monetary policy is in good shape and that it will take time to see a shift in the balance of risks related to the Fed's dual mandate. San Francisco Federal Reserve President Mary Daly emphasized that the labor market remains strong, but that reaching the 2% inflation target may not be achieved before the end of 2025, increasing the likelihood of the Fed cutting interest rates twice, as markets currently expect. While markets are pricing in a 52 basis point easing by the end of the year, observers believe that Trump's continued dominance of the political scene, the return of tariffs, and conflicting economic data are all factors that will enhance gold's appeal as a risk hedge. 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 Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple 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
Al-Ahram Weekly
3 hours ago
- Al-Ahram Weekly
Hamas responds to US ceasefire proposal, outlines prisoner exchange plan - War on Gaza
Hamas announced on Saturday that it has submitted its response to US Special Envoy Steve Witkoff's latest ceasefire proposal. Hamas stated that 'this proposal aims to achieve a permanent ceasefire, a comprehensive withdrawal from the Gaza Strip, and ensure the flow of aid to our people and our families in the Gaza Strip'. They added that the deal would include releasing 10 Israeli living captives and 18 bodies in exchange for an 'agreed-upon' but unspecified number of Palestinian prisoners. Of the roughly 250 Israelis captured on 7 October 2023, about 58 remain in Gaza, while Israel believes 35 are dead. Israeli Prime Minister Benjamin Netanyahu has expressed uncertainty over the fate of some captives. In a prior exchange in November 2023, Israel released 240 Palestinian prisoners, all women and children. Of these, 107 were between 14 and 17 years old, and about three-quarters had not been convicted of any crime, though some were still awaiting trial in a military court. In exchange, Hamas released 110 captives. That temporary truce lasted seven days before Israel resumed its war on Gaza. The second truce, which went into effect on 19 January and was unilaterally ended by Israel on 18 March, called for the release of 33 Israeli captives in exchange for nearly 2,000 Palestinian prisoners. The current US proposal reportedly offers a 60-day ceasefire with the staged release of 10 Israeli captives (four on day one, two on day 30, and four on day 60) and a phased return of Israeli bodies. However, the extension of the ceasefire beyond 60 days is not guaranteed. The official Israeli Broadcasting Corporation, citing a senior Israeli source, reported that Tel Aviv received the US proposal on Wednesday evening calling for the release of 10 live Israeli captives and the remains of 10 others in two phases in exchange for a 60-day temporary ceasefire. The proposal did not guarantee that the ceasefire would continue beyond 60 days if talks were still underway. Meanwhile, Israel's Channel 13 reported that Hamas is proposing a different schedule: the release of Israeli captives in three stages over 60 days—four on day one, two on day thirty, and four on day sixty. Hamas also suggested transferring the bodies of the deceased Israelis in three phases—on days ten, thirty, and fifty. The Israeli news website Walla quoted a senior Israeli official as saying that the latest proposal was more in line with Israel's interests than previous ones, but still lacked explicit US guarantees for a permanent ceasefire. Meanwhile, Al Arabiya reported that Hamas would reject the absence of such guarantees and warn against any deal that would allow Israel to resume hostilities at will. According to the report, Hamas is demanding firm US assurances for the implementation of any agreement, including a commitment to a complete Israeli withdrawal from Gaza. A Hamas source also told Al Arabiya that 'all factions' had agreed on the observations submitted in response to Witkoff's proposal. Hamas had announced earlier that it accepted a general framework proposed by Witkoff, which includes a permanent ceasefire, the complete withdrawal of Israeli forces from Gaza, the delivery of humanitarian aid, and the formation of a professional committee to manage Gaza's affairs following the agreement. Follow us on: Facebook Instagram Whatsapp Short link:
