Latest News from Middle East
Middle East
4 hours ago
- Business
- Middle East
OPEN// PM: No alternatives to continuing work on debt reduction
CAIRO, May 28 (MENA) - Prime Minister Mostafa Madbouli said Wednesday there is no alternative to continuing work on a plan to reduce debt rates and sustain a downward trajectory. This came during a meeting he chaired this evening at the government headquarters in the New Administrative Capital, to review a number of proposals that will contribute to reducing debt to GDP ratio. The meeting was attended by a number of officials, including Minister of Finance Ahmed Kouchouck, and Chairman of the Suez Canal Authority Osama Rabie. The meeting discussed a number of proposals that will contribute to reducing debt, thus achieving the government's objectives in this regard, government spokesperson Mohamed el-Homsany said. The meeting also tackled efforts to strengthen the country's foreign currency reserves from various sources, including foreign direct investment (FDIs), exports, Suez Canal revenues, remittances from Egyptians abroad, and others. (MENA) A I E/S R E
Middle East
4 hours ago
- Business
- Middle East
OPEN// Sisi sends message to Moroccan king
CAIRO, May 28 (MENA) - Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty delivered on Wednesday a message from President Abdel Fattah El Sisi to King Mohammed VI of Morocco. The message was handed during the top diplomat's talks with Moroccan Foreign Minister Nasser Bourita in Rabat at the start of an official visit. Foreign Ministry spokesperson Tamim Khallaf said Abdelatty emphasized Egypt's commitment to strengthening ties with Morocco in different domains and expressed hope for promoting bilateral relations through the convocation of the High Joint Committee in Cairo and a Foreign Ministers' coordination mechanism. He also underscored the importance of boosting economic and trade cooperation. He praised the successful Egyptian-Moroccan Business Forum held on May 4 in Cairo, which brought together 148 companies—74 Egyptian and 31 Moroccan—and reaffirmed Egypt's commitment to following up on the forum's outcome ahead of the joint trade committee meeting scheduled for October in Cairo. The ministers also exchanged views on regional issues, particularly the situation in Gaza with Abdelatty highlighting Egypt's efforts to halt the Israeli offensive, restore a ceasefire, ensure full humanitarian access, and implement the Arab reconstruction plan for Gaza. He commended King Mohammed VI's leadership of the Al-Quds Committee and its support for the Palestinian cause. The meeting also covered developments in Sudan, Libya, and the Sahel region. (MENA) S R E
Middle East
10 hours ago
- Business
- Middle East
OPEN// Sisi urges youths, families to focus on education aligned with digitized job market
CAIRO, May 28 (MENA) - President Abdel Fattah El Sisi on Wednesday called on young people and families to focus within the coming period on education that aligns with digitized labor market. The President made the remarks during his meeting with Minister of Communications and Information Technology Amr Talaat and Director of the Egyptian Military Academy Lieutenant General Ashraf Salem Zaher. Presidential Spokesman Mohamed El Shennawy said President El Sisi followed up on the latest pertinent to the 'Digilians" initiative with a focus on the executive procedures for joining. The initiative is to come into force by September 2025. The procedures included the establishment of a registration platform, the completion of the technological and engineering preparations, and the necessary infrastructure to implement the initiative on time. The minister of Communications and Information Technology explained that the initiative is open to all young men and women, from different academic and professional disciplines, and from all governorates. The selection process will be conducted objectively. He also noted that the study will include multiple programs, including an intensive diploma, a specialized diploma, a professional master's degree, and an academic master's degree, all of which will be offered completely free of charge, including accommodation, living expenses, and training. The curriculum will include a comprehensive set of technical, personal, linguistic, life and leadership skills, in addition to freelancing skills. President Sisi also reviewed the initiative's tracks, including the development of students' technical skills. Agreements are being concluded with international and local companies operating in Egypt to receive trainees in the initiative after completing the duration of theoretical study to acquire technical skills. Furthermore, all trainees will be assisted in creating an account on freelancing platforms and securing practical projects. President Sisi stressed the need to complete all the executive procedures related to implementing the initiative on time, while considering ways to expand the base of beneficiaries of the initiative to achieve a significant leap in the number and quality of trained personnel in the field of communications and information technology. President Sisi also gave directives to cooperate with specialized entities in various technological sciences, both locally and internationally, to develop the linguistic, life, and leadership skills of Egyptian youth, in light of the state's strategy to build digital capabilities and technology-specialized cadres. The president also emphasized the importance of continuing to implement digital transformation plans and further develop the state's technological infrastructure. (MENA) Y R E/S R E
Middle East
10 hours ago
- Business
- Middle East
OPEN// PM: Egypt offers gateway to Arab, African markets
CAIRO, May 28 (MENA) – Prime Minister Mostafa Madbouli said Egypt is seeing major international investment interest due to its stability, improved infrastructure, and investor-friendly legislation. Madbouli added that this environment has led to growing commitments from global firms. During a press briefing following the cabinet meeting, the PM noted that he had held discussions with US companies to invest in advanced technology, automotive, pharmaceuticals, food, and clean energy. The Premier also confirmed ongoing cooperation with China and Russia in the Suez Canal Economic Zone and announced new talks with American firms to establish dedicated industrial zones. Additionally, Madbouli described Egypt as a growing market and a direct route to Arab and African economies. He cited President Abdel Fattah El Sisi's recent meetings with global companies as a clear sign of investor confidence. A new deal with IBM was signed to train 100,000 youth over five years in AI and digital fields, part of a broader push to equip Egyptian workers for the global market. Shell and ExxonMobil announced plans to expand operations in Egypt after successful economic reforms and promising exploration results. Madbouli stated that these decisions come even as both companies scale down projects elsewhere. On dairy import concerns, he confirmed that existing halal and quality rules remain in place. Egypt continues importing meat from approved sources under strict inspection. The PM also addressed requests from some countries to review tariffs, especially on US products, and added that all changes will be considered within Egypt's legal and trade frameworks. (MENA) H A T/S R E
Middle East
16 hours ago
- Business
- Middle East
OPEN// President Sisi urges expanding base of beneficiaries of "Digilians" initiative
CAIRO, May 28 (MENA) - President Abdel Fattah El Sisi Wednesday stressed the need to continue with efforts to complete all executive procedures related to implementing the "Digilians" (digital pioneers) initiative within the set time-frame. He also called for studying ways to expand the base of beneficiaries of the initiative in order to achieve a qualitative leap in training cadres in the fields of communications and information technology. President Sisi made the remarks on Wednesday during a meeting with Minister of Communications and Information Technology Dr Amr Talaat, and Director of the Egyptian Military Academy Lieutenant General Ashraf Salem Zahir. The president directed to cooperate with specialized institutions in various technological sciences both locally and internationally in light of the state's strategy to build digital capabilities and specialized technology cadres. He also stressed the importance of proceeding with the implementation of digital transformation plans and development of the country's technological infrastructure. During the meeting, the president reviewed the latest developments concerning Digilians initiative, especially with regard the executive procedures for enrollment in the initiative, due to start in September 2025, Presidential Spokesman Mohamed Shennawy said. Within this context, Minister Talaat said the initiative is open for all youth of both genders, from various academic and professional specializations, and from all Egyptian governorates. The selection process will be based on objective criteria. He pointed out that the study programs will include multiple tracks, such as intensive diplomas, specialized diplomas, professional master's degrees, and academic master's degrees. All programs will be offered completely free of charge, including accommodation, living expenses, and training, he said, adding that the curricula will cover a comprehensive set of technical, personal, linguistic, life, and leadership and freelancing skills. The spokesperson also noted that President Sisi stood on the agreements being signed with a large number of international and local companies operating in Egypt to receive trainees after completing the theoretical study period for practical training to acquire technical skills. The initiative will focus on supporting trainees to present a profitable technology-based project idea, participate in Egypt's digital projects, and assist all trainees in creating accounts on freelancing platforms. (MENA) M N E/R G E
