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The Latest Breaking News from Mostafa Madbouly

Short Fuses In Egypt As Blackouts Stretch Into Sweltering Summer

At least once a day, the hum of every fan, air conditioner and fridge across Egypt goes quiet.

International Business Times

Egypt To Prosecute Travel Agents Over Hajj 'Fraud': Government

Egyptian Prime Minister Mostafa Madbouly ordered 16 tourism companies stripped of their licences and referred their managers to the public prosecutor Saturday over illegal pilgrimages to Mecca, the cabinet said.

International Business Times

Egypt’s el-Sisi reappoints PM Madbouly, orders him to form new cabinet

President says new government must tackle local and international issues.

Al Jazeera

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Major Fire Destroys Historic Al-Ahram Studio In Cairo

Fire damages iconic Al-Ahram Studio in Cairo, highlighting the importance of preserving cultural heritage and ensuring film production facility safety.

Top News

Egypt strikes expanded $8bn deal with the IMF

The deal comes as the central bank said it would let the Egyptian pound trade freely.

Al Jazeera

Egypt says it’s selling $1.9bn in assets in privatisation push

The government is selling stakes in 32 state companies as Egypt continues to grapple with an economic crisis.

Al Jazeera

Egypt announces deals to sell $1.9 billion in state assets in its privatization push

The Egyptian government says that it has inked a series of deals to sell off $1.9 billion worth of stakes in state-owned companies

The Independent UK

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Greater Indian presence in the Suez region welcome: Israeli expert on PM Modi’s Egypt visit

Prime Minister Modi is scheduled to land in Cairo on June 24 afternoon and will hold a round table with the Prime Minister of Egypt, Mostafa Madbouly. He will also interact with the Grand Mufti of Egypt and leading Egyptian intellectuals.

The Hindu

Government sells 9.5% of state-controlled Telecom Egypt

The sale comes as part of the country’s privatisation drive to meet a series of foreign debt obligations.

Al Jazeera

Japanese PM to Visit Egypt

Japan's Prime Minister Fumio Kishida is scheduled to visit Egypt on Saturday as part of an African tour to discuss regional developments. The Prime Minister will discuss with senior Egyptian officials ways to promote cooperation between the two countries in various fields, namely renewable energy, food, agriculture, education, and tourism.…

Asharq Al-Awsat

16,000 People Crossed Sudan Border into Egypt

Cairo said it facilitated the entry of over 16,000 foreign nationals from Sudan into Egypt since deadly fighting erupted in their country in mid-April, the official spokesperson for the Foreign Ministry, Ahmed Abu-Zeid, stated on Thursday. “Egyptian efforts to facilitate the crossing of refugees from Sudan over the past few…

Asharq Al-Awsat

Egypt Earmarks $320 Million for Tourism Sector

The Egyptian government has included tourism within an initiative aimed at supporting the country’s productive sectors, along with industry and agriculture. On Wednesday, Egyptian Prime Minister Mostafa Madbouly said that the government has allocated 10 billion Egyptian pounds ($320 million) to support the tourism sector within the government’s initiative, bringing…

Asharq Al-Awsat

Egyptian Cabinet to Benefit from Former Headquarters in Investment

The Egyptian government seeks to benefit from its former headquarters following the transfer of ministries into the New Administrative Capital. Egyptian Prime Minister Mostafa Madbouly stressed the government’s keenness on continuous follow-up of the state assets and on taking necessary steps to optimize them. The PM noted that there are…

Asharq Al-Awsat

Egyptian Cabinet Asserts Availability of Basic Commodities

Egyptian government asserted that the country has enough stock of all basic commodities, and monitoring campaigns to fight monopolistic practices are being intensified during Ramadan month. The Egyptian Minister of Supply and Internal Trade, Ali al-Moselhi, said that the strategic reserve of various essential commodities is reassuring, with discounts ranging…

Asharq Al-Awsat

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Asharq Al-Awsat

Egypt Establishes Spiritual, Political Status of New Administrative Capital

The Egyptian government established the spiritual and political status of its New Administrative Capital (NAC) and is gradually transferring the ministries, legislative, and security institutions there. On Thursday, President Abdel Fattah al-Sisi met with Prime Minister Mostafa Madbouly and cabinet members at the Strategic Leadership Center in the New Administrative…

Asharq Al-Awsat

Egypt, Qatar Agree to Boost Relations, Increase Investments

Egypt and Qatar agreed to boost relations and increase investments to establish trade alliances and partnerships. Egyptian Prime Minister Mostafa Madbouly announced that the exchange rate issue would soon be solved after the black market rate approached the official rate. Madbouly called on the business sector in Qatar to invest…

Asharq Al-Awsat

Egyptian PM Visits Qatar for 1st Time in Decade

Emir of Qatar Sheikh Tamim bin Hamad Al-Thani held talks in Doha on Monday with Egyptian Prime Minister Mostafa Madbouly. It was the first visit by an Egyptian premier to Qatar in nearly a decade. Sheikh Tamim and Madbouly reviewed cooperation relations between their countries and ways to develop them.…

Asharq Al-Awsat

Egypt Cabinet Approves 13 Draft Agreements to Explore Oil, Gas

The Egyptian Cabinet approved on Wednesday 13 draft agreements between the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding Company, and a number of international companies. Under the deals, the Egyptian General Petroleum Corporation will be responsible for oil exploration in areas west of Wadi Natrun, east of Siwa,…

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Asharq Al-Awsat

How Did Egypt Get Close to Announcing ‘End of Terrorism’?

Egypt’s President Abdel Fattah El-Sisi has repeatedly made statements about his country succeeding in eliminating terrorism to a large extent.

Asharq Al-Awsat

Egypt to Establish Stable Tax System, Clear Investment Incentives

Egypt is currently developing several proposals to improve its investment climate, including a stable tax system and clear investment incentives, announced the CEO of the General Authority for Investment and Free Zones, Hossam Haiba. Egyptian Prime Minister Mostafa Madbouly met with Haiba and the accompanying delegation and reviewed some procedures…

Asharq Al-Awsat

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

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

Egypt Government Moves to Control Currency Exchange Rate

The Egyptian government pledged to “control the market,” stressing that the US dollar crisis is on its way to being resolved. It has also sought to crack down on currency dealers in the “black market.” The value of the Egyptian pound declined against the US dollar following the Central Bank’s…

Asharq Al-Awsat

Egypt, Qatar Boost Rapprochement with Intensive Consultations

Egypt and Qatar have boosted their rapprochement through ministerial consultations, proceeding with the reconciliation achieved earlier this year in AlUla in Saudi Arabia. On Thursday, Egyptian Prime Minister Mostafa Madbouly attended a celebration marking the 50th anniversary of the diplomatic relations between Egypt and Qatar. Qatar's Ambassador to Egypt Salem…

Asharq Al-Awsat

Egypt Inflation Jumps to Five-year High in November

Egypt's annual urban consumer inflation rate rose from 16.2 percent in October to 18.7 percent in November, the country's Central Agency for Public Mobilization and Statistics (CAPMAS) said Thursday. The inflation hike in November marks the highest increase since December 2017, when it reached 21.9 percent. Egypt's annual headline inflation…

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