Latest news with #SamirFarag
Daily News Egypt
15-07-2025
- Business
- Daily News Egypt
Egyptian Countryside Development explores cooperation with Kharafi NatEnergy
Amr Abdel Wahab, Chairperson and Managing Director of the Egyptian Countryside Development Company, met with a high-level delegation from the Kharafi NatEnergy Group to discuss potential avenues for cooperation in infrastructure, energy, and water projects. The visiting delegation was led by Samir Farag, Chairperson of the Group, and included Magdy El-Badry, Chairperson of Kharafi Electric Company—a subsidiary of the group—along with Ahmed Hawara, Head of Development and Sales. The meeting was also attended by Venise Fayid, Advisor to the Chairperson of the New Egyptian Countryside Development Company. During the meeting, Abdel Wahab gave an overview of the national project to develop 1.5 million feddans, outlining its strategic phases and the latest updates. He underscored the project's role as a pillar of Egypt's sustainable development strategy and highlighted major milestones already achieved on the ground. Abdel Wahab emphasized that the project stands as a testament to the government's efforts to turn the vision of political leadership into a tangible and transformative reality. He also noted the successful establishment of the project's core infrastructure using advanced technologies, including the full deployment of telecommunications and electricity networks across various sites within the 'New Egyptian Countryside.' The discussion explored areas of mutual interest between the Egyptian Countryside Development Company and Kharafi Electric, particularly in infrastructure development, energy generation, and water management. Both parties expressed a shared commitment to enhancing cooperation in support of the national initiative, which aims to unlock Egypt's agricultural and developmental potential through the cultivation and modernization of vast land areas. The Kharafi NatEnergy delegation commended the achievements made by the New Egyptian Countryside Development Company, praising the scale and speed of implementation. They recognized the 1.5 million feddan project as one of Egypt's most significant national endeavors with the capacity to drive sustainable growth and resource optimization. Samir Farag and the accompanying delegation reaffirmed their interest in establishing a fruitful partnership to support the rollout of energy projects on the project's lands. They highlighted the strategic importance of aligning with the country's broader vision for sustainable development as Egypt moves forward with its 'New Republic' initiative. Both sides concluded the meeting by stressing the importance of strengthening joint efforts and strategic collaboration to advance shared development goals and ensure the successful realization of Egypt's ambitious agricultural and infrastructure transformation.
Forbes
08-07-2025
- Business
- Forbes
China's HQ-9B Challenges Russia's Middle East Air Defense Market Share
HQ-9B, an advanced two-stage air defence system with multi-target anti-jamming capabilities, ... More exhibited at the airshow in Zhuhai in south China's Guangdong province Thursday, Nov. 14, 2024. (LONG WEI / Feature China/Future Publishing via Getty Images) If recent reports are accurate, China has begun to give Russia significant competition in the lucrative Middle Eastern and North African arms market, especially when it comes to exports of air defense systems. Iran has received Chinese surface-to-air missile systems since the recent 12-day war with Israel, the London-based Middle East Eye outlet reported Monday, citing Arab officials. It's unclear how many systems or which type Iran has received, although the report states Tehran is paying with oil shipments. The HQ-9 is China's version of the Russian S-300, and the HQ-9B is an extended-range version. Export variants are known as the FD-2000 and FD-2000B, respectively. Any timely delivery of the HQ-9B/FD-2000B, in particular, to Tehran would send a strong signal to Moscow. Until recently, the most advanced air defense system Iran ever imported was the Russian S-300 PMU-2, which Tehran received in 2016. However, in two rounds of strikes in April and October 2024, Israel disabled the majority, if not the entirety, of Iran's S-300 arsenal without suffering any losses. The 12-day war in June likely destroyed any of the remaining S-300 components. Iran paid approximately $1 billion for these missile defense systems and waited almost a decade for delivery. Aside from its disappointment with the S-300's performance, Tehran is undoubtedly frustrated with Russia's non-delivery of Su-35 Flanker fighter jets that it ordered and paid for early in this decade. Such disappointment, coupled with an urgent need to rebuild its air defense, may prompt Iran to pursue China's Chengdu J-10C Vigorous Dragon fighter instead, especially if it's satisfied with Beijing's prompt delivery of surface-to-air missiles in its urgent time of need. The reported Iran SAM delivery came little more than a week after retired high-ranking Egyptian military official Samir Farag confirmed Egypt's acquisition of the HQ-9B in an interview with Egypt's Sada El-Balad TV. The Diplomat also reported in May that Cairo had confirmed purchasing the HQ-9B and speculated Beijing 'may use Y-20 aircraft to deliver HQ-9B systems to Egypt, just as it previously transported HQ-22 air defense missile systems to Serbia when the landlocked European country was virtually isolated.' The last comparable strategic air defense system Egypt ordered was Russia's S-300VM system in the mid-2010s. In the intervening decade, it has also ordered medium-range IRIS-T systems from Germany, which it displayed for the first time in October 2024. Choosing the HQ-9B over additional S-300VMs aligns with Cairo's consistent preference for diversifying its military arsenal as much as feasible. Nevertheless, it's also a way of hedging against chronic delays in Russia's supply of spare parts of technical support for foreign operators of Russian military hardware in the wake of its 2022 invasion of Ukraine. After all, if Egypt's S-300VMs became inoperable, that could severely undermine its overall strategic air defense if it lacked any alternative and comparable system such as the HQ-9B. Furthermore, Egypt canceled its 2018 order for Su-35 out of fear of incurring American sanctions. China's recent deployment of J-10Cs to Egypt for a joint exercise fueled speculation that Cairo might acquire that Chinese jet instead, which would mark another win for Beijing over Moscow in the region. Algeria recently took delivery of some Su-35s originally built for Egypt from the same batch many speculated Iran would ultimately receive. Algiers still purchases a majority of its military hardware from Russia and reportedly recently acquired the more sophisticated Russian S-400 to enhance its air defense, which already includes S-300s. Incidentally, Algeria's neighbor and rival, Morocco, may have acquired the FD-2000B in 2021. With the conspicuous exception of Algeria, interest in Russia's strategic S-300 and S-400 systems might have already peaked throughout the wider region. Russia withdrew the S-300 system that it nominally delivered to Syria over two years before the regime of Bashar al-Assad finally collapsed in December 2024. Iran's S-300s have gone up in smoke and, if the Middle East Eye report proves accurate, won't be replaced by additional S-300s or even newer S-400s, especially if China has proven willing to supply HQ-9Bs or another comparable system like the HQ-22. In an exceptional and exceptionally costly move, NATO member Turkey received S-400s in 2019 but never put them in service nor exercised its option to acquire a second batch. Those Russian systems remain in storage as Ankara again attempts to regain admission into the F-35 Joint Strike Fighter program, from which Washington suspended it due to that contentious acquisition. While Russia marketed its S-300s and S-400s to the Arab Gulf states, none of them ultimately purchased any, even though the United Arab Emirates and, much more recently and secretly, Saudi Arabia did acquire medium-range Russian Pantsir-S1s. However, these states aren't opting for Chinese systems either. Saudi Arabia inaugurated its first company for its U.S.-made THAAD systems on July 2. Additionally, both Riyadh and Abu Dhabi have ordered the medium-range KM-SAM from South Korea in recent years, as has Iraq, which considered purchasing the S-400 in 2018. At least two recent Middle Eastern buyers of high-end Russian air defenses have reportedly turned to China for surface-to-air capabilities. In Iran's case, it may never trust Russia as a supplier again due to the Su-35 case, nor trust the reliability of Russian weapons due to the devastating S-300 losses it has endured. In Egypt's case, it may not opt for Russian air defenses again due to the risk of incurring U.S. sanctions. On the other hand, Turkey's S-400 acquisition was a one-off that Ankara may now privately regret, although it is unlikely to lead the NATO member to consider buying Chinese systems. Ankara had previously ordered the FD-2000 in 2013 as part of a $3.4 billion joint production agreement that it later canceled under pressure from the U.S. and NATO. Today, it appears that China may have begun making rapid inroads in those very same parts of the Middle Eastern arms market that Russia, for various reasons, has recently been losing out on, possibly for good.
Daily News Egypt
23-06-2025
- Business
- Daily News Egypt
Sixth Edition of Decision-Makers Conference Kicks Off in Cairo June 24
Egypt's economic and investment community is gearing up for the sixth edition of the Decision-Makers Conference, set to take place on June 24 at the St. Regis Hotel in Cairo, under the patronage of the Ministry of Finance, in collaboration with the General Authority for Investment and Free Zones (GAFI), the Egyptian Stock Exchange, and the Micro, Small, and Medium Enterprises Development Agency (MSMEDA). Themed 'The Repercussions of International Business Developments Among Major Powers and Their Impact on Global Economic Conditions, with a Focus on Egypt,' the conference will bring together an elite group of investors, bankers, corporate executives, policymakers, academics, and media professionals to explore Egypt's position in a rapidly shifting global landscape. Engineer Samir Farag, CEO of the organizing company Sun & Sam, emphasized the importance of the event in light of ongoing global economic upheavals, policy realignments, and evolving trade dynamics. 'This conference arrives at a critical moment. It aims to establish a practical roadmap to seize investment opportunities for Egypt and propose strategic responses to global economic challenges,' Farag said. A Strategic Platform for Economic Dialogue The conference will feature three high-profile panel discussions, keynote insights, and strategic dialogues, addressing a broad range of economic, financial, and technological issues. Key themes to be explored include: The impact of global developments on Egypt's banking and non-banking financial sectors The future of foreign direct investment (FDI) and strategies for maximizing Egypt's competitiveness The role of artificial intelligence and big data in enhancing market forecasting and investment decision-making Digital transformation in banking and finance, and its ability to mitigate economic turbulence Approaches to localizing foreign investments, managing hot money flows, and increasing international competitiveness Regulatory and strategic responses to climate-related investment risks and export control measures Reassessing the line between investment, hoarding, and savings Featured Speakers and Panel Highlights The event will host three themed sessions moderated by leading voices in economics and business: Session 1 – Moderated by Mr. Medhat Yassin, Strategic Marketing and Business Transformation Advisor. Panelists include: Mr. Sherif Seif El-Nasr, Chairman, Gezira Sporting Club Mr. Alaa El-Kahky, Founder & Chairman, Al-Nahar TV Dr. Rami Khodair, International Marketing Expert, Founder & CEO of AIM Major General Yasser Abbas, Deputy CEO, GAFI Mr. Hamed Arafa, Chairman, Highlights A special keynote will be delivered by Dr. Sherif Dowidar, an Egyptian economist, on the intersection of global macroeconomic shifts and Egypt's investment outlook. Session 2 – Moderated by Dr. Dalia Aboul-Magd, Chairperson of Data Life AI. Panelists include: Mr. Basil Rahmy, CEO, MSMEDA Dr. Alaa El-Zohiry, Chairman, Egyptian Insurance Federation & MD of GIG Ms. Nevine Mansour, Advisor to the Minister of Finance Mr. Basil Rashdy, Secretary-General, Egyptian Direct Investment Association Mr. Sherif Monsef, Founder & CEO, Connection Ventures Session 3 – Moderated by MP Dr. Ibrahim Hegazy, Head of Marketing, American University in Cairo. Panelists include: Dr. Ahmed Ghoneim, CEO, Grand Egyptian Museum Dr. Hany Tawfik, Economist & Board Member, Misr Venture Capital Mr. Tarek Kamel, Chairman & MD, Nestlé Egypt Eng. Mahmoud Ghazal, Chairman, MGS Group Mr. Alaa Fathy, GM, Manfoods (McDonald's Egypt) A Growing National Platform Since its inaugural edition in March 2023, the Decision-Makers Conference has evolved into a prominent national platform for stakeholder dialogue. The previous edition, held in October 2023, was organized under the auspices of the Ministry of Housing, Utilities, and Urban Communities and the Ministry of Investment and Foreign Trade. The upcoming edition is expected to attract wide media coverage and high-level engagement from both the public and private sectors, reinforcing the event's role in shaping Egypt's investment and policy landscape in an increasingly interconnected global economy.
Egypt Independent
15-06-2025
- Politics
- Egypt Independent
Iran's attack on Tel Aviv is unprecedented since 1948: Former Egyptian General
Strategic expert and the former head of the Egyptian Army's Moral Affairs Department, Samir Farag, stated that the bombardment Tel Aviv endured yesterday was unprecedented in Israel's history since 1948. In televised remarks, Farag stated, 'Netanyahu slept in the shelter, and it has never happened in Israel's history that millions of people took refuge in shelters. The number of damaged buildings and towers is also unprecedented in Israel's history.' Several of the most prestigious areas in Tel Aviv faced a direct bombardment of this magnitude for the first time since 1948, emphasizing that Iran exploited its superiority in manufacturing hypersonic missiles. Farag asserted that Israel side misjudged Iran's military capabilities, pointing to Iran's superiority as a military power, ranking 14th globally, whereas Israel ranks 17th. The escalating conflict between Iran and Israel continues for a third day. Iran launched strikes with tactical guided ballistic missiles early Sunday morning, targeting central Israel, while Israel announced the completion of its attacks inside Iran. Amidst the broader Iranian missile wave on Israel on Sunday, thousands of Israelis were forced to take shelter in underground parking garages. The Israeli Home Front Command estimated that 40 percent of homes in Israel lack shelters that meet the required standards for this confrontation. Earlier on Sunday, the Tel Aviv municipality announced that several buildings are at risk of collapse after being hit in the Iranian missile attack.
Asharq Al-Awsat
17-04-2025
- Politics
- Asharq Al-Awsat
Why Is Israel Repeating Claims of Weapons Smuggling from Egypt?
Israel said its military had downed a drone carrying weapons that it claimed entered from Egyptian territory, in an incident that experts say reflects ongoing tensions between the two neighbors and may be aimed at pressuring Cairo over its opposition to the displacement of Palestinians from Gaza. In a statement on Tuesday evening, the Israeli military said it had detected a drone attempting to smuggle weapons from Egypt into Israel around the Paran Brigade, near the border. The drone was intercepted by Israeli forces. Upon arrival at the scene, security personnel located the drone, four weapons and ammunition, the army said, adding that the seized items were handed over to Israeli police. The French news agency AFP also cited the statement, noting no casualties were reported. The incident is the latest in a series of claims by Israel alleging that drones or weapons have entered its territory from Egypt. In February, Israel said it had shot down a drone crossing from Egypt, and in October, it reported intercepting another drone it said was smuggling arms. Egypt has not issued an official response to the latest incident, but a senior Egyptian military analyst dismissed the Israeli claims. Retired General Samir Farag told Asharq Al-Awsat that Egyptian territory is 'secure and tightly controlled,' rejecting any suggestion that it is being used to smuggle arms into Israel. He said the repeated Israeli claims were a 'pretext to justify the continued mobilization of the Israeli army and the war on Gaza' amid growing domestic unrest in Israel. Cairo has been a central mediator in ceasefire talks between Israel and Hamas and has staunchly opposed any plan to forcibly displace Palestinians from the besieged enclave. Israel has recently seen mounting anti-war protests from current and former soldiers, as well as civilians. The demonstrations were sparked by an April 9 letter signed by a group of Israeli air force pilots demanding the immediate release of hostages held in Gaza—even if it meant halting the war. The letter has since been backed by more soldiers, artists, intellectuals and public figures, further fueling pressure on Prime Minister Benjamin Netanyahu's government to reconsider its war strategy. Former Egyptian diplomats and analysts have also dismissed Israeli claims that a drone carrying weapons entered its territory from Egypt, describing the move as part of a broader strategy by Tel Aviv to apply psychological and political pressure amid strained bilateral ties. Ambassador Rakha Ahmed Hassan, a former assistant to Egypt's foreign minister, said Israel's allegations are consistent with its use of 'hybrid warfare,' which includes military, psychological, and media tactics designed to manipulate other parties. 'These accusations are baseless,' Hassan told Asharq Al-Awsat, adding that their repetition reflects growing internal pressure in Israel—both economic and military—as well as tension in relations with Cairo. Hassan said Tel Aviv is frustrated with Egypt's firm rejection of any plan to forcibly displace Palestinians from Gaza and its active diplomatic efforts to rally international support for reconstruction without resettlement. 'Israel is trying to deflect attention by repeatedly targeting Egypt's role,' he said, pointing to recent Israeli media reports questioning Egypt's military buildup in Sinai. Israeli outlets have published reports in recent days alleging an unprecedented Egyptian military presence near the border, which some in Israel have claimed violates the 1979 peace treaty between the two countries. Dr. Said Okasha, an expert on Israeli affairs at Egypt's Al-Ahram Center for Political and Strategic Studies, echoed these concerns, saying the drone claim is a reflection of current tensions with Cairo. 'It's puzzling that Israel would make such statements publicly when there are well-established channels for handling border security issues through joint coordination committees,' Okasha said. He added that the move appears aimed at undermining Egypt's credibility as a mediator in the Gaza ceasefire talks while also serving as a distraction for Israel's domestic audience amid growing protests over the government's inability to end the conflict.
