Latest news with #RamsesCentral
Zawya
15-07-2025
- Business
- Zawya
Egypt: CBE returns bank withdrawal cap to $5065
The Central Bank of Egypt (CBE) issued an official letter to state-based lenders that the maximum daily cash withdrawal limit from branches has returned to its normal level of EGP 250,000, for both individuals and companies, effective on July 15th. The temporary decision is a part of exceptional measures due to the effects of the Ramses Central fire, which affected the operational systems of some banks. Accordingly, the CBE decided to return to its usual policies to control cash liquidity in the market after telecommunications and internet services resumed operations. On July 8th, the CBE raised the daily limit for cash withdrawals in local currency to EGP 500,000 amid network disruptions. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
10-07-2025
- Business
- Zawya
Telecom Egypt restores services after Ramses Central fire
Arab Finance: Telecom Egypt announced that services affected by a fire at the Ramses Central in downtown Cairo have been restored after operations were transferred to alternative exchanges, as per a disclosure. The fire, which broke out on Monday, July 7th, caused partial disruptions to fixed broadband and mobile services due to the failure of some interconnection circuits in the building. The company confirmed that the fire has been brought under control. Emergency teams are working to gradually restore services in the affected areas, following a pre-established crisis management plan. Telecom Egypt stated that it has deployed its technical and human resources to maintain service availability, in coordination with the relevant authorities. An assessment is underway to determine the full extent of the damage. The company noted that all affected assets, including equipment and buildings, are covered by insurance. Coordination is also ongoing with the concerned bodies to determine the cause of the fire and apply necessary measures. Telecom Egypt said it remains committed to transparency and will provide updates on the situation as they become available. It also emphasized its focus on maintaining operations and serving customers across the country. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
10-07-2025
- Business
- Zawya
Service restoration underway after Cairo telecom fire, minister tells PM
Egyptian Prime Minister Mostafa Madbouly on Wednesday visited the fire-damaged Ramses Central telecommunications hub to assess the damage and review efforts to restore services disrupted across the country. The visit came after a blaze late on Monday at the central Cairo building killed four workers and injured at least 22 others, triggering a nationwide disruption of critical services and a sweeping response from authorities. During the visit, Communications Minister Amr Talaat reported that services were gradually returning to normal after being rerouted through alternative exchanges. He explained that outside the immediate vicinity of the Ramses Central building, internet and landline voice services had been restored, while mobile service quality for all four operators was back to an average of 95% of normal levels. Talaat also briefed the prime minister on sectoral services, noting that a partial outage in the banking sector had been resolved. He confirmed that the Egyptian Exchange (EGX), which suspended all trading on Tuesday as a precaution, had reopened normally on Wednesday after broker services were stabilised. The minister added that the subsidised food distribution system and emergency services had been operating largely without interruption. Madbouly stressed the need to take all necessary measures to confirm the building's structural safety and called for an urgent recovery plan to return the facility to full operation as soon as possible, pending a technical assessment. Before leaving the site, the prime minister thanked the civil defence personnel for their efforts in extinguishing the blaze. The fire prompted a swift response from Egyptian authorities on Tuesday to contain the fallout. The Central Bank of Egypt (CBE) temporarily doubled the daily cash withdrawal limit to 500,000 Egyptian pounds ($10,400) to facilitate transactions amid the disruption. The victims died from smoke inhalation after being trapped inside the building, authorities said. State-owned operator Telecom Egypt issued a statement mourning the loss of its employees, referring to them as 'martyrs of duty' who remained at their posts 'until the final moments to protect telecom infrastructure.'
See - Sada Elbalad
09-07-2025
- Business
- See - Sada Elbalad
Egyptian Exchange Resumes Trading
Rana Atef On Wednesday, the Egyptian Stock Exchange resumed trading after it was suspended due to a fire at the Ramses major telecommunications center in Cairo. Yesterday, Rania Yaacoub, a member of the Egyptian Stock Exchange, stated that the fire at Ramses Central caused a major disruption to internet and landline services. This had a direct impact on market operations and the ability of clients to communicate with brokerage firms and regulatory bodies. Speaking in an interview on Cairo News, Yaacoub explained that the disruption hindered the usual flow of daily operations, prompting the stock exchange administration to suspend trading during Tuesday's session. She emphasized that the decision was made to uphold the principle of equal opportunity for all market participants, noting that allowing trading to continue amid imbalanced service access would have harmed investors' interests. 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 Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Zawya
09-07-2025
- Business
- Zawya
Egyptian authorities race to contain fallout from fatal telecom fire
Egyptian authorities on Tuesday raced to contain the fallout from a fatal fire at a key Cairo telecommunications hub, suspending the stock market, doubling cash withdrawal limits, and working to reroute disrupted internet and phone services. The response came after a blaze late on Monday at the Ramses Central building killed four workers and injured at least 22 others, triggering a nationwide disruption of critical services. Minister of Communications and Information Technology Amr Talaat said on Tuesday that all telecommunication services would be gradually restored within 24 hours by redirecting traffic through alternative exchanges. 'The Ramses Central will remain out of service for several days,' Talaat said, adding that affected users would be compensated. He stressed that emergency services and other essential systems were operating normally in most areas. To mitigate the economic impact, the Central Bank of Egypt (CBE) took proactive measures, temporarily raising the daily cash withdrawal limit for individuals and companies to EGP 500,000 ($10,400) from EGP 250,000 to facilitate transactions amid the disruption. The Egyptian Exchange (EGX) suspended all trading for the day, calling it a necessary step to 'uphold market integrity and investor confidence' after technical and operational challenges made it impossible to ensure fair and orderly trading. Other government bodies also moved to ensure the continuity of essential services. The Ministry of Supply and Internal Trade confirmed that the distribution of subsidised bread was proceeding without interruption. Minister Sherif Farouk explained that the system's resilience was due to dispensing machines being equipped with multiple SIM cards, allowing them to switch between mobile networks. At Cairo International Airport, the Ministry of Civil Aviation announced that operations had returned to normal after initial disruptions. It said alternative solutions were implemented to restore the operating system across all terminals, allowing affected flights to take off. State-owned operator Telecom Egypt, which runs the Ramses exchange, issued a statement mourning the four employees who died in the blaze, calling them 'martyrs of duty.' 'With heavy hearts, Telecom Egypt mourns the heroes who demonstrated the highest levels of dedication and sacrifice, remaining at their posts until the final moments to protect telecom infrastructure and serve the nation,' the statement read. The victims died from smoke inhalation after being trapped inside the building, authorities said. As of Tuesday evening, civil defence teams were still conducting cooling operations at the site while an investigation into the cause of the fire got underway. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
