Egypt

CAIRO, Mar 23 (NNN-MENA) – Egypt’s cabinet, yesterday, approved a draft budget for the fiscal year 2022-2023, which begins on July 1, with an expected 6.1 percent deficit.

Prime Minister, Mostafa Madbouly, told the cabinet meeting, the new budget was restructured in light of the global and domestic economic developments, said a statement issued by the cabinet.

23 March 2022; MEMO: Egypt's President Abdel Fattah Al-Sisi, Israeli Prime Minister Naftali Bennett and Abu Dhabi Crown Prince and de facto ruler of the UAE, Mohammed Bin Zayed held a two-day summit in the Egyptian resort of Sharm El-Sheikh.

A statement issued by Bennett's office said: "The leaders discussed the ties between the three countries in the context of recent developments in the world and the region, and the ways to strengthen them on all levels."

21 March 2022; MEMO: Egypt has set a fixed price for unsubsidised bread in an effort to counter rising food prices after Russia's invasion of Ukraine closed off access to lower-priced Black Sea wheat, Reuters reports.

Prime Minister, Moustafa Madbouly, on Monday, set the price of commercially sold bread at 11.50 Egyptian pounds ($0.66) per kg, his office said in a statement.

CAIRO (AP) — Egypt’s Central Bank raised its key interest rate Monday for the first time since 2017, citing inflationary pressures triggered by the coronavirus pandemic and Russia’s war in Ukraine, which hiked oil prices to new records.

The move saw the Egyptian pound slip, trading 17.5 to the dollar — from an average of 15.6 pounds for $1 — after the bank’s decision. That is likely to have a heavy toll on poor and middle-class Egyptians.

CAIRO, March 20 (Xinhua) -- Egyptian Foreign Minister Sameh Shoukry and his Pakistani counterpart Shah Mahmood Qureshi agreed on Sunday to boost bilateral ties between the two countries in Islamabad, according to a statement from the Egyptian Foreign Ministry.

Pakistan is the fourth stop of Shoukry's Asian tour starting on March 13, that also included Indonesia, Singapore and Malaysia.

During the talks, the two foreign ministers agreed to strengthen cooperation at all levels, and discussed regional and international issues of mutual interest.

QENA, Egypt, Mar 18 (NNN-MENA) – Egypt is holding more cultural festivals and artistic activities at its various archaeological sites, with the aim of promoting ancient heritage and attracting tourists, according to Egyptian officials.

In Feb and Mar, at least five cultural and artistic activities were held in Upper Egyptian provinces, that boast the majority of the country’s antiquities and temples.

The last event was concluded last Saturday, at the Abydos temple, in Sohag Province.

17 March 2022; MEMO: Egyptian farmers will have to sell at least 60 per cent of their wheat to the government this season, or risk losing financial support, according to a document circulated by traders, amid efforts by the state to offset disruption to Black Sea wheat imports, Reuters reports.

17 March 2022; MEMO: An Egyptian court yesterday sentenced a merchant to five years in prison for "storing food commodities and exploiting the recent increase in prices."

Legal sources told the media that the merchant was arrested during a campaign carried out by local authorities against those monopolising food commodities amid an increase in prices.

15 March 2022; MEMO: The top US General for Forces in the Middle East said, on Tuesday, that he believed the United States would provide Egypt with F-15 aircraft, Reuters reports.

"I think we have good news in that we're going to provide them with F-15s, which was a long, hard slog," General Frank McKenzie, Head of US Central Command, said during a congressional hearing.

McKenzie did not provide details on timing or how many F-15 aircraft, made by Boeing BA.N, would be provided.

16 March 2022; MEMO: The Arab League called on Tuesday for the UN Security Council and other international bodies to assume their responsibilities and provide protection for the Palestinian people. The organisation's statement was issued hours after Israeli occupation forces killed three Palestinians, two in the occupied West Bank and the third in the Arab town of Rahat inside Israel itself.