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The Latest Breaking News from Egypt

Founder of Egypt’s Juhayna Food Industries and his son released from prison

The founder and former CEO of Juhayna Food Industries and his son were released from prison in Egypt on Saturday after about two years in detention, according to a judicial source and a family member.

Reuters

Egypt Says Nasrallah’s Statements About Economy Are 'Nonsense'

Spokesman for Egypt’s Ministry of Foreign Affairs Ahmed Abu Zeid on Friday called remarks by Hezbollah Secretary-General Hassan Nasrallah about the economic situation in Egypt “nonsense” and “an attempt to recall fake heroism.” Nasrallah’s statements are likely linked to Egypt snubbing Iranian attempts to open channels for communication between Cairo…

Asharq Al-Awsat

Fitch: Egyptian Banks’ Capital Ratios Can Withstand Further EGP Depreciation

Fitch Ratings lauded the agreement between the Egyptian government and the International Monetary Fund (IMF) in which Egypt secures a $3 billion loan over 46 months. Fitch Ratings added also said that Egyptian banks’ regulatory capital ratios can withstand further Egyptian pound depreciation as they are supported by healthy internal…

Asharq Al-Awsat

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Middle East round-up: Egypt economy pounded

Here’s a round-up of Al Jazeera’s Middle East coverage this week.

Al Jazeera

Egyptian Exports Grow to $54 Bln

Egyptian Prime Minister Mostafa Madbouly said Wednesday initial figures show that Egyptian exports reached $53.8 billion in 2022, an increase of 20 percent from last year. For his part, Egyptian Minister of Trade and Industry Ahmed Samir stated that despite the challenging global circumstances, the non-petroleum exports of Egypt registered…

Asharq Al-Awsat

Nemat Shafik is named the first woman to be president at Columbia University

Shafik, who was born in Egypt and grew up in the United States, has extensive experience across global financial institutions and higher education.

WEKU

Egypt Sees High Demand from Investors after Currency Drop

Egypt is seeing good investor appetite for stakes in its state-owned enterprises, the country's planning minister said on Wednesday, as the government pursues partial privatizations to drum up funds after a sharp fall in the value of its currency. Egypt, faced with a currency crunch exacerbated by the war in…

Asharq Al-Awsat

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Egyptian-Jordanian-Palestinian Summit Rejects ‘Israeli Unilateralism’

Egyptian President Abdel Fattah al-Sisi hosted on Tuesday Jordanian King Abdullah II and Palestinian President Mahmoud Abbas at a tripartite summit in Cairo to discuss the Palestinian issue. The summit was held in wake of recent developments in the occupied Palestinian territories and the regional and international situations related to…

Asharq Al-Awsat

Egypt Tackles Saudi Investors Problems in Real Estate, Industrial Projects

Egyptian Prime Minister Mostafa Madbouly stressed the importance his government attaches to solving problems that local and foreign investors face, as well as creating a more attractive climate for investments in the country. In remarks during a meeting with a group of Saudi investors in Egypt on Tuesday, Madbouly said…

Asharq Al-Awsat

As economic crisis deepens, will Egypt slow megaprojects down?

The IMF announced an ambitious reform programme for Egypt’s economy, but analysts cast doubt on its effectiveness.

Al Jazeera

Young Egyptians Battle Plastic Plague

Entrepreneurial young Egyptians are helping combat their country's huge plastic waste problem by recycling junk-food wrappers, water bottles and similar garbage that usually ends up in landfills or the Nile. At a factory on the outskirts of Cairo, run by their startup TileGreen, noisy machines gobble up huge amounts of…

Asharq Al-Awsat

John Foster obituary

Other lives: Artist and art teacher who spent the early part of his career drawing antiquities in Egypt

The Guardian - UK

Saudi Arabia Stresses Agreement with Egypt on Regional, Int’l Issues

The Saudi government stressed on Tuesday its agreement with Egypt on several regional and international issues. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Riyadh. The cabinet underscored the ongoing coordination between Riyadh and Cairo in confronting challenges facing the…

Asharq Al-Awsat

Brit blocked from entering non-EU country due to post-Brexit passport rules

Jonathon Lane had to purchase an emergency passport and missed four days of his family holiday in Sharm el Sheikh, Egypt after easyJet staff stopped him from boarding at Gatwick Airport

Daily Mirror

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Asharq Al-Awsat

Egypt’s Central Bank Monitors Return of Foreign Investors to Local Market

The Central Bank of Egypt said on Monday it was monitoring inflows from foreign investors that exceeded $925 million since Jan. 11. In a statement, the central bank said Egypt has received $925 million in indirect investments in local debt instruments since Wednesday, noting a significant increase in the country’s…

Reuters

Egypt to sell discounted bread to fight inflation

Egypt's government will start selling discounted bread to people not enrolled in its bread subsidy programme as it battles accelerating inflation, the supply minister said on Monday.

Asharq Al-Awsat

Egypt’s Gasc Sells Almost 300,000 T of Wheat via New Commodities Exchange

Egypt’s state grains buyer the General Authority for Supply Commodities (GASC) has sold around 300,000 tonnes of wheat via the new Egyptian Mercantile Exchange since its November launch, the exchange head Ibrahim Ashmawy said on Monday. The wheat was mostly of Russian origin with some German wheat also sold, Ashmawy…

Asharq Al-Awsat

Egypt, China Agree to Develop Strategic Partnership

Egypt and China stressed their keenness to develop a comprehensive strategic partnership that brings them together in various fields. Egyptian President Abdel Fattah al-Sisi received Sunday Chinese Foreign Minister Qin Gang, who is on an African tour that includes five countries. He emphasized China's unwavering support for Egypt in its…

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WEKU

Excavators say they've found a previously unknown Egyptian royal tomb in Luxor

Mostafa Waziri, secretary-general of Egypt's Supreme Council of Antiquities, said the tomb may date back to the 18th Dynasty of ancient Egypt, which occurred between 1550 B.C. and 1292 BC.

France 24

Egypt sentences 38 people to life in prison over 2019 protests

An Egyptian court on Sunday handed down life prison sentences to 38 people, including a self-exiled businessman whose social media posts helped to spark anti-government protests.

Asharq Al-Awsat

Eni, Chevron Announce New Gas Discovery in Egyptian Field

Italian energy group Eni and US energy major Chevron said on Sunday they had made a new gas discovery in an Egyptian offshore field in the Eastern Mediterranean sea. The Nargis-1 well is part of Egypt's 1,800-sq. km Nargis Offshore Area concession operated by Chevron, which holds a 45% interest…

The Independent UK

Rounding off Africa tour, China's top diplomat visits Egypt

China’s chief diplomat is visiting Cairo for talks with Egyptian and Arab League officials

The Guardian - UK

Graphic novelist Deena Mohamed: ‘People seem to love how Egyptian my work is’

The author of the hit Cairo-set novel – set to be a future classic – on going viral with her first web comic and growing up reading Enid Blyton and Agatha Christie

ABC News

Egypt's female DJs creating inclusive dance floors for electronic music fans

In Egypt's patriarchal society, the music industry remains male-dominated. But a generation of young female DJs are forging their own path, seeking to create more inclusive spaces for performers and party-goers alike.

Asharq Al-Awsat

Egypt Says Ancient Royal Tomb Unearthed in Luxor

Archaeologists unearthed an ancient tomb in the southern Egyptian city of Luxor, known for its treasures dating back to the pharaohs, authorities said Saturday. Mostafa Waziri, secretary-general of the Supreme Council of Antiquities, said an Egyptian-British mission found the royal tomb in an ancient site on the west bank of…

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