Latest news with #AbdelFattahEl-Sisi
Egypt Today
3 hours ago
- Business
- Egypt Today
Egypt's Startup Ecosystem Accelerates with $228M during 2025
CAIRO – 1 June 2025: Egypt's entrepreneurial landscape is experiencing a powerful surge, with startups attracting $228 million in venture capital and debt financing during the first five months of 2025. This upward momentum, announced by the Ministerial Group for Entrepreneurship, signals renewed confidence among investors and growing resilience in the Egyptian innovation economy. Between January and May 2025, 16 investment deals were closed, of which 11 were publicly disclosed, amounting to $156 million—a 130 percent increase over the same period last year. Alongside equity injections, top startups such as Nawy and MNT-Halan secured notable debt financing rounds worth $23 million and $49 million, respectively. Speaking on the occasion, Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Chair of the Ministerial Group, underscored the government's unwavering commitment to fostering a robust and inclusive startup ecosystem. She emphasized that this support is driven by a clear national vision, led by President Abdel Fattah El-Sisi, to position Egypt as a competitive regional hub for innovation. Dr. Al-Mashat also revealed that the Ministerial Group is nearing the completion of the Startup Charter, which will set the groundwork for a more enabling environment. Complementary funding mechanisms and support facilities are being developed to attract further capital and support early-stage growth. In parallel, the government has rolled out tax incentives for startups with annual revenues under EGP 20 million, aiming to ease operational pressures and accelerate scalability. Beyond financial incentives, the Group's strategy focuses on empowering youth and enhancing Egypt's global entrepreneurial standing. The approach is not only economic but also strategic, emphasizing competitiveness, knowledge-based development, and sustainable growth. The first five months of the year also saw pivotal movements in Egypt's startup market, particularly in the area of exits and acquisitions. Among the standout deals were Dubizzle's acquisition of Hatla2ee, a key player in online car sales, and the acquisition of Fatora, a digital invoicing platform, by MaxAB-Wasoko. These developments point to a maturing market, where consolidation and strategic scaling are becoming more prevalent. Sector-wise, PropTech led in capital attracted, drawing 33 percent of total venture investment, while FinTech dominated by deal count, with five transactions accounting for 32 percent of the funding activity. These figures underline the diversity and sectoral dynamism of Egypt's startup environment, offering promising signals for sustained growth and innovation in the months ahead.
See - Sada Elbalad
2 days ago
- Politics
- See - Sada Elbalad
President El Sisi Reaffirms Egypt Vows to Preserve Sacred Value of St. Catherine's Monastery
Rana Atef On Friday, President Abdel Fattah El-Sisi received a phone call from Greek Prime Minister Kyriakos Mitsotakis, according to the Presidency Spokesperson Ambassador Mohamed El Shenawy. El Shenawy stated that both sides affirmed their keenness on the significant momentum in relations between the two friendly countries. They also asserted their commitment to continue advancing the strategic ties between the two nations in various fields, in line with their historical nature and serving the interests of both friendly peoples. The official spokesperson added that the call also emphasized Egypt's full commitment to preserving the unique and sacred religious status of Saint Catherine's Monastery. These vows are reinforced by the recent judicial ruling issued in this regard, which aligns with Egypt's dedication to the sanctity of religious and ecclesiastical sites and affirms the unique heritage, spiritual value, and religious standing of Saint Catherine's Monastery. 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 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 News Flights suspended at Port Sudan Airport after Drone Attacks
Egypt Today
2 days ago
- Politics
- Egypt Today
President Sisi in call with Greek PM: Egypt commits to preserve Saint Catherine's Monastery, sacred religious status
President Abdel Fattah El-Sisi received a phone call on Friday from Greek Prime Minister Kyriakos Mitsotakis- press photo CAIRO – 30 May 2025: President Abdel Fattah El-Sisi received a phone call on Friday from Greek Prime Minister Kyriakos Mitsotakis, during which both leaders reaffirmed the strength of Egyptian-Greek relations and their shared commitment to expanding strategic cooperation across various fields. According to Presidency Spokesperson Ambassador Mohamed El-Shenawy, the two leaders emphasized the historical depth of their bilateral ties and their alignment on mutual interests between the two friendly nations. During the call, President Sisi addressed recent rumors regarding Saint Catherine's Monastery, emphasizing Egypt's unwavering commitment to preserving its sacred religious status. He underscored that no infringement upon the monastery's sanctity would occur, referencing a recent judicial ruling that reinforces the site's heritage and spiritual significance. President Sisi's remarks came in response to rumors—reported by Al Arabiya Net—alleging that Saint Catherine's Monastery was being evacuated of its monks in preparation for its sale. On May 28, 2025, the Ismailia Court of Appeal's Taba Sinai Mission ruled on a case concerning disputed land in South Sinai. The ruling, delivered by Judge Alaa Mustafa Abdel Razek, along with Counselors Hassanein Ahmed Al-Wasif and Amir Hassan Abu Al-Leil, affirmed the monks' rights to use and perform religious rites at the monastery and its affiliated archaeological sites. While these sites remain public property owned by the state, they are under the religious stewardship of the monastery's bishop, appointed by Presidential Decree No. 306 of 1974, and are supervised by the Supreme Council of Antiquities. The court further ruled that existing land use agreements between the monastery and local authorities remain valid, dismissing allegations of illegal land seizure. It also clarified that remaining disputed lands fall within protected nature reserves and cannot be claimed through prescription or ownership, as they are classified as public property. The court concluded that the remaining disputed plots of land are nature reserves, all of which are public state property, and cannot be disposed of or owned by prescription. No contracts have been issued regarding them by the competent authority. On May 29, 2025, Egypt's Presidency issued a statement to reiterate ts full commitment to preserving the 'unique and sacred religious status' of Saint Catherine's Monastery and preventing its violation. The Presidency affirmed that the recent court ruling consolidates this status, aligning with the points President Abdel Fattah El Sisi emphasized during his recent visit to Athens on May 7. The Presidency also affirmed the importance of preserving the close and fraternal relations that bind the two countries and peoples and ensuring that they are not jeopardized. Egypt's foreign ministry's official spokesman also stressed on Thursday that rumors about seizing St. Catherine's Monastery and its affiliated land are completely unfounded. The spokesperson made the remarks regarding a court ruling issued on May 28, concerning the land surrounding St. Catherine's Monastery.
Egypt Independent
2 days ago
- Politics
- Egypt Independent
Egypt pledges full protection for historic St. Catherine's Monastery
The Egyptian presidency has reaffirmed its full commitment to preserving the unique and sacred religious status of St. Catherine's Monastery in South Sinai, ensuring this status remains untouched. In a statement released Thursday evening, the Egyptian presidency stressed that the recent judicial ruling regarding the monastery reinforces this status and aligns with what President Abdel Fattah El-Sisi affirmed during his recent visit to Athens on May 7th. The presidency underscored the importance of maintaining the 'close and fraternal relations between the two countries and brotherly peoples, and ensuring they are not harmed.' These developments follow reports circulated months ago that alleged the South Sinai Governorate was attempting to reclaim the monastery's land, which belongs to the Greek Orthodox Church, after evicting and expelling the monks, including the Greeks who oversee the monastery. Recently, the Ismailia Court of Appeal's 'El Tor Circuit' issued its ruling on the lawsuit concerning the disputed land plots between the South Sinai Governorate and St. Catherine's Monastery. The court affirmed the right of those affiliated with St. Catherine's Monastery to utilize the monastery and the archaeological religious sites in the St. Catherine area, with the state retaining ownership of these sites as public property. This is based on the understanding that those affiliated with the monastery are present in their religious capacity, performing their religious rituals under the leadership of the Monastery's Metropolitan, appointed by Presidential Decree No. 306 of 1974, and that the Supreme Council of Antiquities oversees these archaeological sites. Built in 548 AD in South Sinai, Saint Catherine's Monastery is considered one of the oldest monasteries in the world, holding immense religious and historical significance. After rumors spread about the monastery's evacuation and sale, the Egyptian government quickly denied these claims months ago. President El-Sisi also emphatically refuted these allegations, affirming the state's commitment to protecting the monastery and respecting religious pluralism in Egypt. During his visit to Greece this month, President El-Sisi emphasized that the relationship between Egypt and Saint Catherine's Monastery is an eternal contractual relationship that cannot be touched. He expressed his annoyance at the circulation of these rumors, noting that the Egyptian state respects the religious sanctities of all denominations. The crisis concerning the monastery began months ago. Last October, the South Sinai Governorate confirmed the falseness of the rumors circulated on social media regarding a threat or plan to evacuate the monastery. The monastery belongs to the Greek Orthodox Church and is under the supervision of the Greek Ambassador. It is located on the slopes of Mount Sinai, where Moses received the Ten Commandments from God. It is one of the oldest continually operating monasteries in the world, also known as the Monastery of Saint Catherine, though its official name is the 'Sacred Monastery of God-Trodden Mount Sinai.' It was built by order of the Byzantine Emperor Justinian I between 548 and 565 AD to house the monks who had been living in the Sinai Peninsula since the fourth century AD. The monastery includes multiple structures, the most important being the Church of the Transfiguration, which itself contains nine smaller chapels. One of these chapels is the Burning Bush Chapel, where God spoke to the Prophet Moses. The Egyptian Cabinet also issued a statement last November to address the controversy surrounding the monastery and alleged plans for its evacuation coinciding with the area's development. Furthermore, the recent judicial ruling mandated the respect of contracts executed between the local unit of Saint Catherine City and the Monastery concerning certain plots of land utilized by those affiliated with the Monastery. This effectively denies any encroachment on these lands. The court also stated that the remaining disputed land plots are natural protectorates and all are public state property, meaning they cannot be disposed of or acquired through prescription. No contracts have been issued for these lands by the relevant authority.
See - Sada Elbalad
3 days ago
- Politics
- See - Sada Elbalad
Egypt Denies Confiscation Claims Related to Saint Catherine Monastery
H-Tayea On Thursday, Egypt firmly rejected recent claims suggesting the confiscation of land belonging to the historic Saint Catherine's Monastery in South Sinai, reaffirming its full commitment to safeguarding the Monastery's unique religious status and spiritual sanctity. The Presidency of the Arab Republic of Egypt and the Ministry of Foreign Affairs have both issued strong statements clarifying the facts surrounding the recent court ruling issued on May 28. The Presidency reaffirmed Egypt's unwavering dedication to protecting the sacred standing of Saint Catherine's Monastery, noting that the court's decision consolidates this status and is in full alignment with the principles President Abdel Fattah El-Sisi emphasized during his recent visit to Athens on May 7. The Presidency also underlined the importance of preserving the deeply rooted and fraternal relations between Egypt and Greece, stressing that these historic ties must not be undermined by misinformation. In parallel, the Ministry of Foreign Affairs clarified that the court ruling does not affect the Monastery, its surrounding archaeological and religious sites, or its legal and spiritual status. Rather, the ruling marks the first official legal recognition of the Monastery's standing, affirming its historical and cultural significance and confirming the monks' continued right to use and access the religious areas. The statement explained that while some additional areas near the Monastery are located within designated natural reserves and had previously been subject to contracts with local authorities, the court ruled in favor of allowing continued religious use of these spaces in respect of the Monastery's spiritual importance. As for remote, uninhabited land parcels far from the Monastery and with no documented ownership, the court deemed them public state property. These lands, the statement affirmed, have no bearing on the Monastery's operations or holdings. Egypt called for responsible and accurate reporting and urged all parties to consult the full court text before making judgments. Officials emphasized that safeguarding the sacred character of Saint Catherine's Monastery is not only a national commitment but also a reflection of Egypt's respect for its historical and cultural partnerships — particularly with Greece. 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 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 News Flights suspended at Port Sudan Airport after Drone Attacks
