Latest news with #BasantAhmed
See - Sada Elbalad
15 hours ago
- Politics
- See - Sada Elbalad
President Sisi: Egypt appreciates Trump's keenness on reaching just agreement that safeguards interests of all parties regarding Ethiopian Dam
Basant Ahmed President abdel Fattah El Sisi sid that Egypt values the statement by President Donald Trump, which demonstrates the seriousness of the United States—under President Trump's leadership—in exerting efforts to resolve conflicts and end wars. He added that Egypt reaffirms its confidence in President Trump's ability to address complex challenges and to advance peace, stability, and security across the globe, whether in Ukraine, the Palestinian territory, or Africa. Egypt also appreciates President Trump's keenness on reaching a just agreement that safeguards the interests of all parties regarding the Ethiopian Dam, as well as his recognition of the Nile as a source of life for Egypt. The president noted that Egypt reaffirms its support for President Trump's vision of establishing just peace, security, and stability for all countries in the region and around the world. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
16 hours ago
- Business
- See - Sada Elbalad
Egypt's exports rise 19.8 percent in April, trade deficit narrows to $3.42 billion
Basant Ahmed Egypt's trade deficit narrowed by 9.5% in April 2025 to $3.42bn, compared with $3.78bn in the same month a year earlier, as the value of exports surged. The value of exports increased by 19.8% to reach $4.10bn in April, up from $3.43bn in the same month of the previous year, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). This surge was largely driven by a 74.3 percent increase in exports of petroleum products, a 24.7 percent increase in ready-made clothes and an 18.4 percent increase in fertilizer exports. The strong export figures come amid a government push to incentivize industrial production and attract foreign investment through the National Industrial Development Strategy, which aims to advance Egyptian industry, enhance competitiveness and increase exports. This strategy forms part of the urgent industrial development plan, which is a practical, executable step towards localizing industry, deepening domestic manufacturing, transforming Egypt into a regional industrial hub, transitioning to a green economy, and increasing the industrial sector's contribution to GDP and exports, while raising the quality of Egyptian products to the highest standards and improving human resource efficiency. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
16 hours ago
- Business
- See - Sada Elbalad
DP World Egypt handles largest-ever specialist vessel carrying slag cargo at Ain Sokhna Port
Basant Ahmed The Ministry of Petroleum is working to increase natural gas output across various geographic regions—including the onshore Nile Delta—to ensure a stable supply to the national gas grid. It also continues to closely track the implementation of exploration and production programmes through its affiliated companies, with the aim of maximising returns from available resources. These efforts are being carried out in collaboration with both local and international partners, and are supported by newly introduced incentive packages aimed at encouraging domestic oil and gas production. These initiatives contribute to strengthening the national energy system and advancing broader economic development objectives. The vessel, MV KEEPER, with an overall length (LOA) of 289 metres and carrying 152,150 metric tonnes of slag metal, sets a new operational record at the terminal. The shipment forms part of a broader commercial agreement, which will see the terminal handle approximately 300,000 tonnes in total, a significant increase compared to previous cargo volumes. CEO Mohammed Shihab said: 'The successful handling of MV KEEPER reflects the results of our continued investment in Egypt's trade infrastructure, through our multi-purpose terminal, integrated end-to-end logistics solutions, and the operational excellence of our team. 'It reinforces our commitment to supporting Egypt's key industrial sectors and showcases the country's growing capacity to meet global commerce demands, supported by our world-class logistics capabilities.' 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
16 hours ago
- Business
- See - Sada Elbalad
Egypt, China sign 3 MoUs to boost financial, payment system ties
Basant Ahmed The Governor of the Central Bank of Egypt (CBE), Hassan Abdalla, received his Chinese counterpart Pan Gongsheng in Cairo, where the two officials discussed enhancing bilateral financial cooperation and witnessed the signing of three memoranda of understanding (MoUs) aimed at deepening economic ties. The first MoU was signed between Suez Canal Bank, China-Africa Investment Company (TEDA), and CIPS Limited, the operator of China's Cross-Border Interbank Payment System. The agreement aims to promote the use of the Chinese yuan among businesses operating in the Egypt-China Economic and Trade Cooperation Zone. The second agreement was signed between Chinese payment firm Pay and the Egyptian Banks Company (EBC), which manages Egypt's national payment infrastructure. This partnership seeks to improve Egypt's electronic payment ecosystem and broaden acceptance of Pay cards across points of sale and online platforms throughout the country. Pay also signed a separate MoU with Egyptian fintech PayMob to expand the acceptance of its cards among merchants and websites affiliated with PayMob. Discussions between the two sides focused on several key areas, including a local currency swap agreement, settling payments in local currencies, Egypt's issuance of Panda bonds in the Chinese market, and linking the two countries' payment systems. They also explored ways to boost the presence of Chinese banks in Egypt and Egyptian banks in China to encourage joint investments. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
16 hours ago
- Business
- See - Sada Elbalad
Egypt's foreign reserves reach $48.7 billion by June
Basant Ahmed The Central Bank of Egypt announced that the net international reserve rose to $48.7 billion by the end of June 2025 up from $84.562 billion in May an increase of $174 million this marks the latest step in a steady upward trend that has seen Egypt's reserves strengthen over recent months. In May 2025, the CBE had previously reported an increase in foreign currency reserves to $48.526 billion, compared to $48.144 billion recorded in April. The reserves also grew in April, reaching $48.144 billion, up from $47.757 billion at the end of March 2025, reflecting ongoing resilience in Egypt's external position. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
