Egypt

CAIRO, Jan. 21 (Xinhua) -- Ahead of the upcoming Chinese New Year, Egypt received the first Chinese tourist group on Friday since the outbreak of COVID-19 three years ago.

During a welcoming ceremony for the Chinese tourist group at Cairo International Airport, Egyptian Vice Minister for Tourism and Antiquities Ghada Shalaby welcomed the Chinese tourists, expressing aspiration to see more Chinese tourist groups.

CAIRO, Jan 18 (NNN-MENA) – Leaders of Egypt, Jordan and Palestine, highlighted the need to preserve the “legitimate” Palestinian rights, and continue joint efforts to achieve comprehensive, just, and permanent peace in the region.

During a tripartite summit held in Egypt’s capital, Cairo, Egyptian President, Abdel-Fattah al-Sisi, King Abdullah II of Jordan and Palestinian President, Mahmoud Abbas, discussed the Palestinian issue in light of the current developments in the occupied Palestinian territories.

18 Jan 2023; MEMO: Egypt's economic crisis is pushing the country's middle class to the brink of poverty, Agence France-Presse has reported. Currency devaluation and rampant inflation are forcing many families to take radical decisions and change their lifestyles.

16 Jan 2023; MEMO: 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, Reuters reports.

People will be able to buy 90g loaves at cost price using pre-paid cards, Ali Moselhy said, adding the price was yet to be decided but would be less than 1 Egyptian pound ($0.03), with a trial period starting on Wednesday

17 Jan 2023; MEMO: The Egyptian judiciary has issued a life sentence to political activist Muhammad Ali, Arabi21 has reported. Thirty-seven others were also charged with inciting violence, spreading false news and joining a terrorist group, in what the media call the "Joker" case.

The Supreme State Security Court sentenced sixteen of the defendants, including a girl, to five years in prison with hard labour. Five others were sentenced to ten years each. The rest were acquitted.

CAIRO, Jan 12 (NNN-MENA) – The Egyptian pound further declined against the U.S. dollar yesterday, plunging to below 31 pounds to the dollar, before settling at 29.7 in the afternoon.

The Egyptian local currency has lost about half of its value since Mar, 2022, when a dollar was worth about 15.7 pounds.

Egypt devalued its local currency twice in 2022, the latest of which was in late Oct.

11 Jan 2023; MEMO: Egypt's pound weakened by more than 13 per cent to a new low below 32 to the US dollar on Wednesday as the Central Bank moved to a more flexible exchange rate under the terms of an International Monetary Fund financial support package, Reuters reports.

10 Jan 2023; MEMO: Inflation reached 21.9 per cent in Egypt in December, up from 19.2 per cent the previous month, the  state-run Central Agency for Mobilization and Statistics revealed today; the highest level since December 2017.

"This is primarily due to pass-through effects from the pound's depreciation at the end of October, as well as further weakening of the currency in the parallel market through December," Goldman Sachs said.

CAIRO (AP) — The Suez Canal Authority said a cargo ship carrying corn that went aground early Monday in the Egyptian waterway was refloated and canal traffic was restored.

Adm. Ossama Rabei, head of the authority, said the Marshall Islands-flagged MV Glory suffered a technical failure and the canal deployed four tugboats to help refloat it. He said the vessel was being withdrawn to a nearby maritime park to fix the problem.

07 Jan 2023; MEMO: The statistics revealed by the Egyptian Medical Syndicate regarding the resignations of 4,621 doctors over the past year due to low wages and poor working conditions have sparked widespread controversy in Egypt.