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Toronto Star
3 hours ago
- Business
- Toronto Star
A New Era for the Canada-U.S. Relationship
TORONTO, June 03, 2025 (GLOBE NEWSWIRE) — Today, the Empire Club of Canada, in partnership with the American Chamber of Commerce in Canada (AmCham Canada), will host a special event 'A New Era of the Canada-U.S. Relationship' with the Honorable Pete Hoekstra, the newly appointed U.S. Ambassador to Canada. Ambassador Hoekstra's remarks will address current affairs, including trade and security, while also reflecting on how to build on the long tradition of cooperation and friendship between Canada and the United States.
Korea Herald
2 days ago
- Business
- Korea Herald
AmCham welcomes President Lee Jae-myung, vows stronger Korea-US business ties
The American Chamber of Commerce in Korea on Wednesday released an official statement congratulating Lee Jae-myung on his election as the 21st president of the Republic of Korea. AmCham expressed optimism that under President Lee's leadership, Korea will enter a new phase of economic growth and innovation. With both Korea and the United States undergoing significant political transitions, AmCham emphasized the importance of deepening bilateral economic cooperation. 'On behalf of the US business community, I sincerely congratulate President Lee,' said AmCham Chairman James Kim. 'His leadership and vision mark an important turning point for Korea's future. "We look forward to strengthening the Korea-US economic partnership through close collaboration with the new administration.' Kim also highlighted past engagements with Lee, including discussions on support for small and medium enterprises, liquefied natural gas cooperation with Alaska and efforts to attract foreign investment. 'Through every meeting, I was impressed by his forward-looking mindset, openness to innovation and unwavering commitment to enhancing Korea's global competitiveness."
Egypt Independent
27-05-2025
- Business
- Egypt Independent
Egypt warns of regional escalations over Grand Ethiopian Renaissance Dam
Egyptian Foreign Minister Badr Abdelatty revealed that the current stalemate on the Grand Ethiopian Renaissance Dam (GERD) crisis could lead to renewed tensions in the region, given the escalating dispute between Egypt and Ethiopia and the failure to reach an agreement. During his participation in the US-Egypt Policy Leaders Forum held by the American Chamber of Commerce in Cairo, the Egyptian Foreign Minister assured that Egypt is working to maintain stability, and referred to several points of tension in the region, including incidents in Sudan and the situation in the Gaza Strip. Egypt suspended talks with Ethiopia over the GERD more than a year ago due to Addis Ababa's intransigence in the negotiations and its attempts to buy time to complete the dam. Rising water tensions The GERD is one of the most controversial issues in the Horn of Africa, a source of ongoing tension between Egypt, Ethiopia, and Sudan since Ethiopia began its construction on the Blue Nile in 2011. The Ethiopian dam, the largest hydropower project in Africa, aims to generate more than 5,000 megawatts of electricity, doubling Ethiopia's energy production and providing electricity to nearly 60 percent of its population, which suffers from energy shortages. The dam raises concerns for Egypt and Sudan, which rely heavily on the Nile's waters, as the Blue Nile provides approximately 85 percent of the Nile's total flow. Egypt, which relies on the Nile for over 98 percent of its water needs, considers the dam an existential threat to its water security. Cairo fears that filling and operating the dam without a binding agreement will reduce its water share, potentially impacting agriculture, drinking water supplies, and the economy as a whole. Stagnant talks In September 2023, Ethiopia announced the completion of the fourth and final phase of filling the dam's reservoir, sparking fierce Egyptian protests describing the move as 'illegal.' Egypt also expressed concern that Ethiopia could use the dam for political purposes, such as controlling water flow as a leverage. Ethiopia views the dam as a vital development project to eradicate poverty and provide electricity to its population of more than 123 million, nearly half of whom lack access to electricity. The Ethiopian government has asserted that the dam will not cause significant harm to the riparian states and that it is committed to the principles of equitable utilization of the Nile's waters, in accordance with the 2015 Declaration of Principles. However, Ethiopia has refused to sign legally binding agreements specifying how the dam will be managed during droughts. Negotiations between Egypt, Ethiopia, and Sudan stalled in late 2023 due to what Egypt described as 'Ethiopia's intransigence' and its refusal to accept compromises that safeguard the interests of the three countries.
See - Sada Elbalad
26-05-2025
- Business
- See - Sada Elbalad
President El-Sisi Receives US Business Delegation Participating in Economic Forum
Amir Hagag President Abdel Fattah El-Sisi received today a delegation of US businessmen participating in the Egyptian-American Economic Forum held in Cairo. The delegation was headed by Susan Clark, President of the American Chamber of Commerce, and John Chrisman, President of the US-Egypt Business Council and President of Apache Corporation. The delegation was attended by Dr. Mostafa Madbouly, Prime Minister; Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation; Dr. Badr Abdel-Ati, Minister of Foreign Affairs, Immigration, and Egyptian Expatriates Affairs; and Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade. 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
Daily News Egypt
26-05-2025
- Business
- Daily News Egypt
Egypt introduces tax incentives to boost trust, partnership with business community
Egypt's Minister of Finance, Ahmed Kouchouk, announced on Sunday new tax facilitations aimed at fostering greater trust and deeper partnership between the government and the business community, underscoring Egypt's ongoing commitment to economic reform. Speaking at the US–Egypt Policy Leaders Forum 2025, organized by the American Chamber of Commerce under the leadership of Tarek Tawfik, Kouchouk emphasized that there is strong alignment across all pillars of Egypt's economic reform agenda. This coordination, he noted, is essential for enhancing the competitiveness of the Egyptian economy on a sustainable basis. The minister stated that Egypt has begun to reap the benefits of structural reforms, with robust macroeconomic and financial performance indicators over the past ten months. 'The Egyptian economy is now positioned for gradual and sustained growth,' Kouchouk said, citing increasing investment as a key driver of this momentum. A central priority for the government, he emphasized, is empowering the private sector. 'We are adopting policies that enable the private sector to take the lead in economic activity,' he said. As a result, the private sector's share of total investments rose to 60% between July and December 2024, a significant indicator of growing business confidence and engagement. Kouchouk explained that the government is managing public finances with a careful balance between maintaining fiscal discipline and stimulating economic activity. He highlighted a series of targeted initiatives and programs designed to support key sectors including industry, agriculture, exports, and tourism, all aimed at enhancing Egypt's global economic competitiveness. One of the most notable achievements this fiscal year, the minister revealed, is the recording of the highest primary surplus in Egypt's recent history—3.1% of GDP from July 2024 to April 2025. This surplus was achieved despite rising global interest rates and demonstrates Egypt's prudent fiscal management. He also noted a decline in the debt-to-GDP ratio, a key metric reflecting the country's improving financial health. Looking ahead, Kouchouk affirmed that the government is committed to continuing this positive trajectory by further reducing debt levels and creating fiscal space to increase public investment in critical areas such as healthcare, education, and broader social and economic development.
