Egypt, Armenia Discuss Enhancing Defense, Industrial Cooperation
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
28 minutes ago
- See - Sada Elbalad
Gold Headed to $4,000 in 2026 Despite Potential Temporary Corrections
Waleed Farouk Economist John Luca confirmed that global gold prices recorded a remarkable surge of nearly 26% in U.S. dollar terms during the first half of 2025. He noted that this performance reflects strong structural demand from major economies and investors seeking safe-haven assets amid escalating geopolitical tensions and persistent inflationary pressures. uca stated that his forecasts point to an average gold price of $3,675 per ounce by Q4 2025, with the potential to reach $4,000 in Q2 2026. He explained that his analysis highlights continued positive momentum in the market, even though some temporary corrections may occur. He also projected that gold could average $3,070 per ounce by the end of December 2025, with a yearly average of around $3,220. Some estimates, he added, suggest a year-end price of $3,634 per ounce. However, he cautioned about a potential downside scenario where prices could drop by as much as 12% toward $1,980, if inflationary pressures were to ease suddenly. Nevertheless, Luca emphasized that gold remains a strategic investment, supported by structural factors such as global currency volatility and ongoing geopolitical risks. Gold in the Egyptian Market On the local front, Luca pointed out that gold prices in Egypt have risen about 21% since the start of 2025, driven by strong global demand and political tensions. He expects an additional 10% increase by year-end, with global prices potentially reaching $3,200 per ounce, which would directly impact the Egyptian market. He stressed that investing in gold in Egypt remains an exceptional opportunity, especially given forecasts for international prices to reach $3,700 in early 2026. Short-Term Outlook Regarding the current situation, Luca noted that global prices are hovering near $3,336 per ounce, with expectations of narrow trading in the near term and a possible limited correction down to $3,295. However, he underscored that the broader trend remains positive, supported by inflationary pressures and critical geopolitical events, with prices likely to resume their upward trajectory by the end of August. He concluded by saying that gold is in a strong position to achieve further gains in the medium term, with any declines likely to remain temporary corrections rather than the beginning of a long-term reversal. 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 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
Al-Ahram Weekly
an hour ago
- Al-Ahram Weekly
Claims Egypt blocking aid to Gaza are ‘a big lie': FM Abdelatty to CNN - Foreign Affairs
Egypt's foreign minister Badr Abdelatty has rejected accusations that Cairo is obstructing humanitarian aid to Gaza as a 'big lie', insisting that Israel alone controls the Palestinian side of the Rafah crossing and is responsible for blocking relief supplies. The foreign minister's statements came in an exclusive interview with CNN's Becky Anderson on board a plane on the way to an international press conference on the Egyptian side of the Rafah crossing on Monday. Abdelatty explained to Anderson that the Egyptian terminal of the Rafah border crossing between Egypt and Gaza remained open, while the Palestinian terminal on the other side 'was destroyed by Israel four times by Israel.' 'The Israelis are physically there, preventing any truck or person from moving in. Israel is the main country blocking and putting restrictions on the flow of humanitarian and medical aid,' he said. Abdelatty also warned against attempts to forcibly displace Palestinians through Rafah, describing displacement as a 'red line.' He said: 'There is no moral, ethical, legal, or political justification for displacement. Those people are attached to their homeland. Displacement is a one-way ticket … it means only one objective: the liquidation of the Palestinian cause.' Asked by Anderson about the usefulness of a peace treaty that 'cannot be negotiated,' Abdelatty defended Egypt's 1979 treaty with Israel, calling it 'the main pillar of stability in our neighbourhood.' He stressed that Cairo maintains security and intelligence contacts with Israel, but said the real obstacle is 'the lack of political will' to reach a political settlement. In Rafah, on the Egyptian side, during a joint press conference with Palestinian prime minister Mohamed Mustafa at Rafah, Abdelatty reiterated Cairo's rejection of 'Greater Israel' illusions and any attempt to displace Palestinians, a position Mustafa praised as 'an impregnable barrier' to Israeli plans. On Sunday, Cairo urged other states not to become complicit in any ethnic cleansing efforts as they constituted a war crime under international law. Since 27 July, Egypt has dispatched 17 aid convoys, in collaboration with the UN and its humanitarian partners, to stem famine conditions in Gaza amid a five-month-old Israeli blockade on the strip. However, Israel has prevented the entry of hundreds of aid truck into Gaza by imposing endless inspections of content and arrestining truck drivers. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
an hour ago
- Al-Ahram Weekly
‘Ball now in Israel's court' after Hamas approval of Gaza truce proposal: Egypt FM Abdelatty - Foreign Affairs
Foreign Minister Badr Abdelatty said on Tuesday that "the ball is now in Israel's court" after Hamas announced it has approved a 60-day truce proposal. Minister Abdelatty made these remarks during separate phone calls with UK Foreign Secretary David Lammy, Turkish Foreign Minister Hakan Fidan, European Union foreign policy chief Kaja Kallas, and Palestinian Vice President Hussein Al-Sheikh. The calls were part of Egypt's intensified diplomatic outreach to support ceasefire efforts in Gaza, according to a foreign ministry statement. During the phone calls, Abdelatty highlighted the progress made in recent ceasefire talks held in Cairo with the Palestinian delegation. He added that this round focused on a proposal from US Special Envoy Steve Witkoff, according to the statement. Egypt's top diplomat called for increased international pressure on Israel to accept the ceasefire proposal to help alleviate the severe humanitarian crisis in Gaza. He also outlined preparations for the Gaza reconstruction conference, which Egypt intends to host immediately upon a ceasefire being declared. In response, the foreign officials praised Egypt's central mediating role alongside Qatar and the US, affirming their full support for Egypt's efforts to promote regional security and stability. Multiple rounds of indirect negotiations – mediated by Egypt and Qatar throughout the two-year Israeli war in Gaza – have failed to secure a lasting ceasefire amid the insistence by Israel, backed by Washington, on continuing the war. On 19 March, Israel unilaterally ended a truce agreement, mediated by Egypt, Qatar, and the US in January, to resume its war on the strip. Tel Aviv and Washington backed off from ceasefire talks in July, claiming that Hamas was not negotiating in good faith. The new ceasefire plan, accepted by Hamas after fresh talks in Cairo, proposes an initial 60-day truce, a partial release of captives, the freeing of some Palestinian prisoners, and provisions for the entry of humanitarian aid. The new proposal also counters a recent Israeli plan to occupy all of Gaza City and ethnically cleanse nearly one million Palestinians to the south of the strip. On Monday, speaking in a joint press conference with Palestinian Prime Minister Mohammed Mustafa during their visit to the Egyptian side of the Rafah crossing, FM Abdelatty reiterated Cairo's condemnation of the war and blockade on the Gaza Strip. 'The Israelis are physically there, preventing any truck or person from moving in. Israel is the main country blocking and putting restrictions on the flow of humanitarian and medical aid,' he said. Abdelatty also warned against attempts to forcibly displace Palestinians through Rafah, describing displacement as a 'red line.' He said: 'There is no moral, ethical, legal, or political justification for displacement. Those people are attached to their homeland. Displacement is a one-way ticket… it means only one objective: the liquidation of the Palestinian cause.' Hamas's acceptance of the proposal comes amid growing regional and international condemnation of the Israeli war on Gaza and its starvation policies against 2.3 million people in the strip. The Israeli genocidal war on Gaza has killed more than 62,000 Palestinians, most of them women and children, while starvation-related deaths in the strip have risen to 263, including 112 children. The Palestinian group's acceptance of the proposal also scales up domestic pressure on Israeli Prime Minister Benjamin Netanyahu to end the war. On Sunday, tens of thousands took to the streets in Tel Aviv to call for the end of the Gaza war and a deal to free the remaining captives in the strip. Around 50 out of the 251 captives taken by the Palestinian factions on 7 October 2023 remain in Gaza, with at least 30 believed killed by Israeli bombardment of the strip. Netanyahu has yet to comment on the plan publicly. Follow us on: Facebook Instagram Whatsapp Short link:
