Latest news with #PresidentialDecree
The Star
11 hours ago
- Business
- The Star
Indonesia submits key document in bid to join Organisation for Economic Co-operation and Development
JAKARTA (Bernama) -- Indonesia has formally submitted its Initial Memorandum to the Organisation for Economic Co-operation and Development (OECD), one year after the country received its accession roadmap at the 2024 Ministerial Council Meeting (MCM). Coordinating Minister for Economic Affairs Airlangga Hartarto led the country's delegation to Paris from June 2 to 5 to attend the OECD MCM, the ministry said in a statement on Tuesday. Airlangga, who heads the country's OECD Accession National Team, handed over the document to OECD secretary-general Matthias Cormann on Monday, marking a major milestone in its bid to join the 38-member bloc. "The completion of the Initial Memorandum within one year reflects our strong national commitment to OECD accession,' he said, while acknowledging that the path ahead remains "a long marathon' requiring continued engagement with OECD committees. According to the ministry, the Initial Memorandum outlines Indonesia's self-assessment of its compliance with OECD standards across 32 chapters and 240 legal instruments. Its drafting involved 64 ministries and agencies across 26 sectors and eight cross-sectoral areas, under Presidential Decree No. 17/2024 and Ministerial Decree No. 232/2024, the ministry added. The OECD, founded in 1961 and headquartered in Paris, provides a platform for member countries to develop evidence-based policies, share best practices and address global economic, social, and environmental challenges. - Bernama
Daily News Egypt
25-05-2025
- Business
- Daily News Egypt
FRA to propose bylaw amendments enabling digital arbitration: Farid
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), delivered the keynote address at the inaugural 'Egyptian Arbitration Day,' organized by the Egyptian Center for Voluntary Arbitration and Non-Banking Financial Dispute Resolution under the theme 'Bridging Business with Solutions and Facilitation.' In his remarks, Farid underscored the Center's pivotal role in fostering a culture of arbitration and expanding the use of mediation to resolve disputes in Egypt's non-banking financial sector. He praised the Center's diverse roster of seasoned arbitrators and its broad suite of services, highlighting its growing importance in enhancing market trust. Farid announced that the FRA will soon propose amendments to the Center's bylaws—subject to approval by the Prime Minister—to formally introduce frameworks supporting digital arbitration. These reforms aim to streamline the dispute resolution process through secure electronic platforms, improving speed and accessibility while preserving confidentiality. He emphasized that voluntary mediation and rapid dispute resolution are essential to building trust in non-banking financial markets, and are instrumental in fostering market stability and sustainable growth. Established by Presidential Decree No. 335 of 2019, in accordance with Article 10 of Law No. 10 of 2009 governing non-banking financial markets and instruments, the Center is recognized as a pioneering institution in Egypt and the broader Middle East. It offers confidential, efficient, and expert-led dispute resolution, reflecting the Egyptian state's commitment to legislative stability, legal clarity, and protection for all financial actors. Farid also highlighted recent positive trends in the non-banking financial services sector, including growth in financing volumes, increased market participation, and proactive regulatory initiatives. These include updates to derivatives market regulations and the launch of Egypt's first voluntary carbon credit market—developments that further underscore the need for a modern arbitration mechanism to manage emerging types of disputes. He concluded by noting that a fast, efficient, and specialized arbitration system enhances investor confidence, supports Egypt's investment climate, and contributes to sustainable economic development. From his side, Minister of Justice Adnan Fanjari affirmed the state's commitment to creating a robust and adaptive legal framework that supports investment, aligns with market dynamics, and ensures timely justice. Marian Kaldas, Executive Director of the Egyptian Center for Voluntary Arbitration, highlighted the significance of organizing the first Egyptian Arbitration Day. She described it as part of the Center's broader strategy to raise awareness about alternative dispute resolution mechanisms and promote financial literacy. Kaldas expressed confidence in Egypt's potential to become a regional hub for arbitration and dispute resolution, not only in the non-banking sector but across the wider financial landscape. She also emphasized the importance of expanding public understanding of amicable settlement tools and empowering individuals through legal education and the adoption of international best practices. She concluded by calling the event a successful first step toward advancing voluntary arbitration as a fair, efficient, and accessible path to justice in Egypt.
Egypt Today
25-05-2025
- Politics
- Egypt Today
President Sisi pardons inmates on occasion of Eid Al Adha
File photo- released prisoners CAIRO – 25 May 2025: The official gazette 'Al-Waqa'i' al-Misriyyal has published Presidential Decree No. 262 of 2025, issued by President Abdel Fattah El-Sisi, granting a pardon for certain convicts on the occasion of Eid al-Adha, corresponding to the 10th of Dhu al-Hijjah 1446 AH. The number of the would-be released inmates was not published yet in the official gazette. On April 1, 2025, the Egyptian Ministry of Interior released a total of 2,777 prisoners, who have been granted presidential pardon, on the occasion of Eid al-Fitr (the Feast of Breaking the Fast) celebrations.
Egypt Today
17-04-2025
- Business
- Egypt Today
Egypt's Minister of Electricity flies to Russia to discuss requirements for reactor core of the Dabaa Nuclear Power Plant
CAIRO – 17 April 2025: Egyptian Minister of Electricity and Renewable Energy Mahmoud Esmat headed on Thursday to Russia to discuss the requirements needed for the nuclear reactor core in Egypt's under-construction Nuclear Power Plant (NPP) in the Mediterranean city of Dabaa. The Egyptian Ministry of Electricity and Renewable Energy said in a statement on Thursday that the minister will meet with Russian nuclear officials to discuss developments in the Dabaa Nuclear Power Plant. Additionally, Esmat will make an inspection tour of equipment factories, and will meet with Russian nuclear officials to discuss several common topics, the statement added. Located in Matrouh, northwestern Egypt, the 4.8GW plant is being developed by Russia's state-owned nuclear energy corporation Rosatom in partnership with Egypt's Nuclear Power Plants Authority (NPPA). Expected to be fully operational by 2030, the plant will supply approximately 10 percent of Egypt's total energy needs, generating up to 37 billion kilowatt-hours of electricity annually. Rosatom, which was contracted in 2015, is responsible for constructing the plant and providing nuclearfuel. In January 2025, the Egyptian House of Representatives approved the Energy and Environment Committee's report on Presidential Decree No. 515 of 2024, which ratifies a protocol amending the government financing agreement between Egypt and Russia. The agreement secures a government export loan from Moscow to support the construction of Egypt's first nuclear power plant, El-Dabaa facility. The decree was reviewed by a joint committee that included members of the Energy and Environment Committee, as well as representatives from the Planning and Budget, Economic Affairs, and Foreign Relations Committees. During three sessions, the committee examined the decree, its explanatory memorandum, and feedback from government officials before recommending approval.
Middle East
10-04-2025
- Politics
- Middle East
OPEN// Hatem Nabil Mostafa picked as CAOA's acting chief
CAIRO, April 10 (MENA) - President Abdel Fattah El Sisi has issued Presidential Decree No. 173 of 2025, assigning Hatem Nabil Abdel Hamid Mostafa to assume the duties of Head of the Central Agency for Organization and Administration (CAOA) with the rank of Minister, for a one-year term starting from April 10, 2025. The decree was published in the Official Gazette. (MENA) M S H/R G E
