Egypt, Armenia Discuss Enhancing Defense, Industrial Cooperation
Taarek Refaat
Mohamed Salah El-Din Mostafa, Minister of State for Military Production received Armen Sargsyan, Ambassador of Armenia to Egypt, at the ministry's headquarters in the New Administrative Capital.
During the meeting, the Minister emphasized the importance of developing joint cooperation between the two countries in the fields of military and civilian manufacturing, noting the strong historical relations between Egypt and Armenia, which have witnessed remarkable development recently thanks to the support of the political leadership in both countries.
The Minister reviewed the capabilities of the Ministry of Military Production in the field of military manufacturing, emphasizing the ministry's commitment to meeting the needs of the armed forces and police for weapons, equipment, and ammunition, in addition to exploiting surplus production capacity to manufacture high-quality civilian products at competitive prices, and contributing to the implementation of national and development projects.
He explained that the ministry's strategy is based on openness and cooperation with specialized international companies, with the aim of transferring and localizing the latest manufacturing technologies. He expressed the ministry's welcome to cooperate with Armenian companies in various fields.
For his part, the Armenian ambassador expressed his appreciation for the meeting, emphasizing his country's interest in strengthening cooperation with Egypt, particularly with military production companies, given their advanced manufacturing and technical capabilities and their vital role in localizing modern technology in various industrial sectors in Egypt.
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
Lifestyle
Pistachio and Raspberry Cheesecake Domes Recipe
Videos & Features
Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO)
Arts & Culture
Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized
News
Ireland Replaces Former Israeli Embassy with Palestinian Museum
News
Israeli PM Diagnosed with Stage 3 Prostate Cancer
Lifestyle
Maguy Farah Reveals 2025 Expectations for Pisces
News
Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
34 minutes ago
- See - Sada Elbalad
More than 20,000 Livestock Slaughtered in Public Slaughterhouses during First Two Days of Eid al-Adha
Taarek Refaat The Ministry of Agriculture and Land Reclamation announced that government slaughterhouses across the country's governorates received and slaughtered 20,285 sacrificial animals for citizens for free, including cows, buffalo, goats, sheep, and camels, during the first and second days of Eid al-Adha. Hamed El-Aqnas, head of the General Authority for Veterinary Services said in a statement, Saturday, that government slaughterhouses across the country witnessed a large turnout from citizens during the first two days of Eid. He pointed to the directives of Alaa Farouk, Minister of Agriculture, regarding the necessity of supervision, follow-up, and physical inspection of livestock before slaughter, ensuring their safety, to preserve the public health of citizens. 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 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
34 minutes ago
- See - Sada Elbalad
Silver Heats Up — Is It Headed Toward $50?
Waleed Farouk After years of lagging behind gold and remaining relatively stagnant, silver is finally making a notable upward move. But why now? What's fueling this sudden breakout? Peter Krauth, a precious metals expert and author of The Great Silver Bull, believes this is more than just a short-term rally — it's the result of deep, mounting economic forces now surfacing in the market. Inflation Is No Longer 'Transitory' According to Krauth, inflation has become a permanent feature of today's economic reality, no longer just a "transitory phase." He points to the Core PCE index — the Federal Reserve's preferred inflation gauge — which has risen from 2.75% to 3.5% in just a few months, far above the Fed's 2% target. Coupled with a slowdown in GDP growth in the first quarter, Krauth sees the makings of a classic case of stagflation — weak economic growth paired with rising prices. Warning Signs from the Bond Market This outlook is supported by bond market signals. U.S. Treasury yields are climbing, signaling falling bond prices. Krauth highlights the 20-year Treasury bond ETF (TLT), which appears poised to break below previous lows — a sign of declining investor confidence in government debt instruments. Meanwhile, the yield on 30-year Treasuries has surged from just 0.1% during the height of the COVID-19 crisis to nearly 5% today — a historic shift that places major pressure on U.S. debt servicing. Massive Debt and Imminent Maturities Out of the total $36 trillion in U.S. national debt, $9 trillion is set to mature this year alone. According to Krauth, the only viable way to service this is by printing more money — a move that fuels further inflation fears and drives investors toward safe-haven assets like precious metals. Gold Led the Way… Silver Is Catching Up While gold has already priced in much of the inflation risk, Krauth says silver is only just beginning to react. Recent political tensions may also be playing a role — particularly the clash between Donald Trump and Elon Musk, who has criticized Trump's massive spending plans as highly inflationary. Could Silver Hit $50? Krauth forecasts silver could reach around $40 in the second half of this year, with a strong possibility of breaking the long-standing $50 barrier sometime in 2026. If that level is surpassed, he expects silver could surge further, reaching $60–$65, driven by momentum and the lack of historical precedent. He concludes: > 'Once silver breaks above $50, we'll be in completely uncharted territory... and we could see prices we never imagined before.' --- Would you like this version tailored for social media, a newsletter, or broadcast copy as well? 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 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
an hour ago
- See - Sada Elbalad
Russia Cuts Interest Rates by 100 Basis-point for First Time since 2022
Taarek Refaat The Central Bank of Russia cut interest rates to 20%, the first cut since September 2022, amid signs of easing inflationary pressures. The Bank of Russia cut interest rates by 100 basis points, after having held them steady at 21% since last October, the highest level since the adoption of the new benchmark interest rate in 2013. Inflation in April reached 6.2%, a marked slowdown from an average of 8.2% in the first quarter of 2025, according to Central Bank data. The Bank of Russia confirmed in its statement that although domestic demand still exceeds supply, the Russian economy is gradually returning to a balanced growth path. The Bank added that monetary policy will remain tight for a "prolonged period" until inflation returns to its 4% target. The Russian-Ukrainian war, which erupted in February 2022, has led to severe economic pressures, most notably the weakness of the Russian ruble and rising import prices. Since then, Moscow has reoriented its economy to meet the challenges of war and Western sanctions. There were hopes at the beginning of the year that US President Donald Trump could broker a ceasefire or even end the war, but fighting continues on the ground. Despite everything, the rouble is currently the best-performing currency in the world this year, according to Bank of America, due to a combination of capital controls, tighter monetary policy, and a weaker US dollar. It's worth noting that with the interest rate cut announcement, the US dollar rose 2.72% against the rouble on Friday. (USD/Rouble = 78.56) 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 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
