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Daily News Egypt
08-07-2025
- Business
- Daily News Egypt
Government pushes mining sector reforms to attract global investment: Petroleum Minister
Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, affirmed that transforming the Egyptian Mineral Resources Authority (EMRA) into an economic authority will provide it with the necessary tools and capabilities for sectoral development. The transformation, he said, will also facilitate key geological and seismic studies to attract investment by highlighting the country's mining potential. He noted that several ongoing projects are currently focused on conducting aerial and seismic surveys to map mineral resources across Egypt. These efforts form part of a broader national strategy to drive a qualitative shift in the mining sector. Badawi made these remarks during a meeting with members of the American Chamber of Commerce's Mining Committee in Egypt. The meeting was attended by Deputy Minister Moataz Atef, representatives from the Ministry's technical office, and the official spokesperson. The AmCham delegation included Hoda Mansour, Vice President of AngloGold Ashanti; Sherif Barakat, Co-Chair of the Mining Committee and General Manager of Aton Mining; Mostafa El Gebaly, Co-Chair of the Committee and Managing Director of Abu Zaabal Fertilizers and Chemicals; Silvia Menassa, CEO of AmCham Egypt; Dina Nawar, Chief Operating Officer at AmCham; Heba Raslan, Partner at Sharkawy & Sarhan Law Firm; Omar Shawky, Managing Partner at Forvis Mazars Mostafa Shawki; and Nouran El Gohary, Committee Coordinator at AmCham. The Minister emphasised the growing global importance of the mining industry and reaffirmed the Egyptian government's commitment to developing this promising sector. He stressed the country's aim to attract leading international mining firms and position Egypt as a key player in the global mining landscape. The Ministry, he added, is working to expand mining activities and maximise value-added outputs to deliver stronger economic returns to the state. Badawi also praised the longstanding strategic partnership between Egypt's petroleum sector and the American Chamber of Commerce, commending the Chamber's role in encouraging US investment in Egypt. He asserted that this is the ideal time for foreign companies to invest in the country's mining sector. For their part, the AmCham delegation welcomed the government's continued support for mining sector development, particularly the reform of mining agreements and EMRA's restructuring. These steps, they said, are enhancing investor confidence and making Egypt more attractive to global mining companies. The delegation also referenced their recent visit to Washington, D.C., where they observed considerable interest from the US administration in Egypt's mining reforms. They noted a growing push to encourage American companies to explore opportunities in Egypt, especially in critical and rare earth minerals and strategic mining projects.
The Age
04-07-2025
- Business
- The Age
Crisafulli's bid to bring Trump – and the Quad
'Based on where things are at the moment geopolitically, who those partners are, where it will be, the fact that we're about to become an Olympic city, the journey point where we are as a state, I think we can own it,' he said. 'The defence lens and the defence opportunities that come with that, and the investment opportunities, it would be a really big win for us and it's something I'm really pinning our hopes on. 'I'm going to keep fighting pretty hard for it.' Crisafulli said he would lead his first overseas delegation as premier within the next month to both India and Japan, during which Quad hosting rights would be 'top of the agenda'. Comment was sought from both Albanese and Foreign Minister Penny Wong. While the American Chamber of Commerce (AmCham) celebrated July 4 inside the Brisbane Sofitel ballroom, a small band of protesters outside demonstrated against Australia's military cooperation with Trump's United States, including through AUKUS, and the ongoing war in Gaza. Annette Brownlie, the chair of Independent and Peaceful Australia, said. 'We're very concerned about what sort of deals our premier might be doing with the American Chamber of Commerce,' she said. 'We don't know what sort of contracts, etc, they will sign. We are deeply enmeshed in the American military industry – the F35 fighter jets, parts of those fighter jets are made here in Brisbane. Loading 'It implicates us and makes us complicit for the genocide that's happening in Gaza and in Palestine.' Ferra Engineering, based at Tingalpa in Brisbane's east, manufactures components for the US's F-35 Joint Strike Fighters and Crisafulli appeared to single it out while on stage. 'That's one company employing 100 people doing one small element in the backblocks of Queensland,' he said. 'Now that's a massive opportunity, and what we can do is make sure that we allow the private sector to do their job and invest in those partnerships that get people to look here [for investment].'
Sydney Morning Herald
04-07-2025
- Business
- Sydney Morning Herald
Crisafulli's bid to bring Trump – and the Quad
'Based on where things are at the moment geopolitically, who those partners are, where it will be, the fact that we're about to become an Olympic city, the journey point where we are as a state, I think we can own it,' he said. 'The defence lens and the defence opportunities that come with that, and the investment opportunities, it would be a really big win for us and it's something I'm really pinning our hopes on. 'I'm going to keep fighting pretty hard for it.' Crisafulli said he would lead his first overseas delegation as premier within the next month to both India and Japan, during which Quad hosting rights would be 'top of the agenda'. Comment was sought from both Albanese and Foreign Minister Penny Wong. While the American Chamber of Commerce (AmCham) celebrated July 4 inside the Brisbane Sofitel ballroom, a small band of protesters outside demonstrated against Australia's military cooperation with Trump's United States, including through AUKUS, and the ongoing war in Gaza. Annette Brownlie, the chair of Independent and Peaceful Australia, said. 'We're very concerned about what sort of deals our premier might be doing with the American Chamber of Commerce,' she said. 'We don't know what sort of contracts, etc, they will sign. We are deeply enmeshed in the American military industry – the F35 fighter jets, parts of those fighter jets are made here in Brisbane. Loading 'It implicates us and makes us complicit for the genocide that's happening in Gaza and in Palestine.' Ferra Engineering, based at Tingalpa in Brisbane's east, manufactures components for the US's F-35 Joint Strike Fighters and Crisafulli appeared to single it out while on stage. 'That's one company employing 100 people doing one small element in the backblocks of Queensland,' he said. 'Now that's a massive opportunity, and what we can do is make sure that we allow the private sector to do their job and invest in those partnerships that get people to look here [for investment].'
RTHK
30-06-2025
- Politics
- RTHK
National security a priority; development too: SJ
National security a priority; development too: SJ Paul Lam says the government seeks relative security, not absolute security, and Hong Kong must remain an open and tolerant society. Photo: RTHK Secretary for Justice Paul Lam says confidence in the rule of law in Hong Kong is improving as people see how national security laws are being enforced in the territory. The minister stressed that any notion that the city was prioritising security at the expense of development is a "false impression", and the city must remain an open and tolerant society to fully leverage its advantages under One Country, Two Systems. Lam also dismissed suggestions that classifying certain acts as "soft resistance" would cause a chilling effect on the freedom of expression here, saying there are stringent guidelines on how the term should be applied. In a media interview to mark the fifth anniversary of the promulgation and implementation of the Hong Kong National Security Law on Monday, Lam gave assurances that people wouldn't unwittingly enter into legal jeopardy. According to the 2023 Policy Address, 'soft resistance' refers to attempts to provoke conflict, misinform or spread rumours through different channels, and undermine the governance of the country and the SAR. "[It] is not a legally defined principle. It's never meant to be a term which has a very rigid definition. But it doesn't mean that it's a concept that is too vague or too general," Lam said. He said authorities would look at the means, the motive and its potential harmful consequences of any acts of soft resistance, and prosecute in cases where the law was breached. "But on the other hand, there are certainly situations where there would be insufficient evidence to say that anyone has committed criminal offences," he said. "In those circumstances, firstly, assuming that there are false accusations against the government or wholly irrational opinions being expressed against the government, then our response is to refute or to clarify the situation, to make sure that members of the public, including people outside Hong Kong, will not be misled, [or] be improperly influenced by those false and unsound statements." He also said national security police were justified in issuing a warning earlier this month against downloading the app, "Reversed Front: Bonfire", which had been deemed as seditious. "This is not a game. It is talking about the independence of Taiwan and Hong Kong. Are you saying you think this is OK?" he queried. "Under these circumstances, when we explicitly tell people not to do something, I think it's a fair thing to do so people don't fall foul of the law." Lam also stressed the importance of striking a proper balance between safeguarding national security, and ensuring Hong Kong's development. Citing a business sentiment survey by the American Chamber of Commerce, the justice minister noted that seven out of 10 respondents felt the national security law had not adversely affected their operations. "People can see for themselves, if people can look at the matter objectively based on what actually happened and how cases were handled by the prosecution and by the courts," he said. "Confidence is coming back, it's restoring and improving. So I would say that we are doing the right things, but obviously we have to remain very prudent and very cautious in order not to give a false impression. "I have to emphasise the word false impression, that we care about national security and we have somehow overlooked the importance of development, or how to the importance of maintaining Hong Kong as a very open society." Lam said that in the long run, Hong Kong needs to develop and strengthen its soft power to instil a sense of pride and national identity among people, and ensure they play a part in creating a stable and safe environment for the city.
France 24
18-06-2025
- Business
- France 24
Putin T-shirts, robots and the Taliban -- but few Westerners at Russia's Davos
Once dubbed "Russia's Davos", the annual Saint Petersburg International Economic Forum (SPIEF) is designed to attract foreign investment and is the biggest showcase of Russian technology and business. Some 20,000 guests from 140 countries are set to take part in the forum over the next four days, both online and in person, according to the Kremlin. But for the fourth year running high-profile European and American representatives have been absent amid Moscow's offensive on Ukraine, a stark contrast to before the conflict, when some Western leaders would attend. Among the states sending high-level government figures this year are the likes of China, Vietnam, Iraq, Saudi Arabia, the Central African Republic and Burkina Faso. Taliban officials were also spotted at the expo, amid Russia's push to normalise ties with the militant Islamist group. Russian officials said some Western executives will attend. "American business representatives, but I can't say at what level," Kremlin aide Yuri Ushakov told reporters at a briefing Tuesday. According to the official programme, not a particularly high one. A panel on Thursday, titled simply "Russia-USA", will feature the head of the American Chamber of Commerce in Russia, some private investors, the founder of a microphone manufacturer and head of a crypto project. But in one high-profile win for Putin, Indonesian President Prabowo Subianto skipped an invitation to the G7 in Canada, choosing instead to meet Putin and attend SPIEF. Humanoid robot Among the events on the first day of the forum were panels focused on artificial intelligence and investment in the Global South. Russia has channelled its economic interests away from the West and towards emerging markets in Asia and Africa due to sanctions over the Ukraine conflict. One stand handed out T-shirts featuring quotes from Vladimir Putin and other government officials. One from Foreign Minister Sergei Lavrov read: "Why the hell did I come here?" Technology was also on display. A humanoid robot flaunting a Dior handbag was seen walking around the exhibits. The forum comes amid intense speculation in Russia about the prospect of sanctions relief and the return of Western firms that left the country after Moscow launched its offensive on Ukraine in February 2022. Hundreds of companies sold off, abandoned or gave away their Russian operations -- ranging from McDonald's and Nike to Ford and Goldman Sachs. Putin has at times blasted them for departing, warned they will not be allowed to return and said Russia is better off without them. He has also introduced punitive counter-sanctions, restricting the ability of firms from so-called "unfriendly" countries from accessing their profits and imposing huge exit fees and taxes on any wishing to leave. Trump's return to the White House and opening of diplomacy with Russia led to a frenzy of headlines in Russian media about whether he would ease US sanctions. Russia's top economic negotiator, Kirill Dmitriev, said Wednesday that the United States may "in the next couple of months" announce joint projects with Russia in the Arctic, without elaborating. "The very important process of improving relations between American society and American companies towards Russia is currently underway," he was quoted as saying by state media. Once a fixture of Europe's business calendar, SPIEF was where Western leaders, CEOs and major investors gathered to seal deals on entering and expanding their footprint in Russia. Then-German Chancellor Angela Merkel attended in 2013, as did Mark Rutte, the Netherlands' prime minister and now the Secretary General of NATO -- the man marshalling the military alliance's response to Putin's Ukraine offensive. Its prestige started to dip after 2014, when Russia annexed the Crimean peninsula from Ukraine and was hit with the first tranche of Western sanctions. But even as recently as 2018, French President Emmanuel Macron and Japan's then-Prime Minister Shinzo Abe sat on stage alongside Putin.
