Dubai, UAE -- AD Ports Group said Sunday it has signed a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt besides two 15-year agreements, an MoU and three Head of Terms with Egyptian authorities for multi-purpose, RoRo and cruise terminals, as well as logistics services...

Turkey's top diplomat said President Recep Tayyip Erdogan and Egyptian President Abdel Fattah al-Sisi would meet to mark the end of a decade of estrangement between the two countries. Turkish Foreign Minister Mevlut Cavusoglu, speaking alongside his Egyptian counterpart Sameh Shoukry during a visit to Cairo, said Ankara wanted to...

It follows a visit last month by Egypt's Foreign Minister Sameh Shoukry to Turkey in a show of solidarity after the devastating earthquake that claimed tens of thousands of lives in Turkey and neighboring Syria. Relations ran into trouble after the 2013 ouster of Egypt's Islamist president Mohamed Morsi, an...

Cairo, Egypt--Egypt’s export to China increased by 20.8 percent to $1.7 billion in the first 11 months of 2022, compared to $1.4 billion in the same period in 2021, according to Egypt’s Central Agency for Public Mobilization and Statistics, also known as CAPMAS.  Egypt’s imports from China totaled $13.2 billion...

Cairo, Egypt -- Egyptian exports to China rose by 20.8 percent to $1.7 billion in the first 11 months of 2022, up from $1.4 billion in the same period in 2021, Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) said. The trade exchange between Egypt and China increased by...

Surprise Saudi-Iran detente, midwifed by China, has gone against the drift of Austin’s visit to the Middle East which was largely premised on an abiding antagonism between the two countries.

Cairo, Egypt - Egypt's official annual headline inflation rate rose in February to 31.9 percent, the highest in five and a half years, while core inflation soared to a record 40.26 percent, according to official data reported Thursday by Reuters. The jump in inflation is likely to further squeeze households...

AMMAN,  JORDAN -   The Speaker of Jordan's Senate Faisal Fayez met with Arab Parliament Speaker Adel Abdulrahman Al-Asoomi and discussed the ways and means to activate parliamentary work and diplomacy to address the region's common interest. During the meeting, attended by Jordan's ambassador to Egypt Amjad Adaileh, the two sides...

In the latest rail tragedy to hit Egypt, two people were killed and many more injured at Qalyub north of Cairo. According to the country's health ministry, the injured are in a stable condition. An earlier toll provided by the ministry said that one person died and 16 were wounded,...

Dubai, UAE--Agility Logistics Parks (ALP) today announced the launch of data center campus sites in Saudi Arabia, Kuwait, Egypt and Ghana. The sites are being readied at ultra-modern ALP warehousing complexes in fast-growing markets and mega-cities that are looking to add hyperscale data center capacity and resolve data latency, security...

The limestone artifact, believed to be a stylized representation of an ancient Roman emperor, was found inside a two-level tomb near the temple in southern Egypt.

Cairo, Egypt - Egypt’s foreign exchange reserves rose $127.9 million by the end of February to $34.352 billion, compared to $34.224 billion by the end of January, according to the Central Bank of Egypt (CBE). Foreign currencies in Egypt’s foreign reserves include the US dollar, euro, Australian dollar, Japanese yen...

Egypt regularly uses accusations of support or financing of "terrorism" to hold activists and opposition figures as long as possible in pre-trial detention. The two-year time limit on such detention is regularly exceeded, say rights groups who count around 60,000 political prisoners in the country.

Cairo, Egypt - Egyptian authorities have detained 29 people, including 13 foreigners, accused of running an online cryptocurrency scam that defrauded thousands of investors, state media reported Sunday. The network pocketed about US$620,000 at the expense of its victims in the country now battered by an economic crisis and rapid inflation,...

The Egyptian pound has lost half of its value, propelling annual inflation in the import-dependent country to 26.5 percent in January, figures in February showed. Of the $34.2 billion in Cairo's foreign reserves -– a 20-percent drop from February 2022 –- some $28 billion are deposits from wealthy Gulf allies....

Doha, Qatar--Egypt and Qatar have signed an agreement to eliminate double taxation on income and prevent tax evasion and avoidance, according to a statement by the Cabinet on February 27. The agreement comes within the framework of bolstering bilateral economic relations and shoring up cooperation in several fields. It is...

Egypt is focused on rebuilding the state and infrastructure. The country has dropped unemployment levels from 18 percent to 7.2 percent in the current period as a result of launching of major projects in the past few years, which compensated for the decline in the private sector's contribution to growth...

Egypt's Foreign Minister Sameh Shoukry, in a rare visit to Syria and Turkey, pledged solidarity with the people of the two countries after a devastating earthquake claimed tens of thousands of lives. Shoukry met with Syria's President Bashar al-Assad and the country's foreign minister Faisal Mekded. He also met Turkish...

For the first time in a decade, Egypt's Foreign Minister Sameh Shoukry will visit Syria and Turkey to show ""solidarity with the two countries and their brotherly peoples" after the powerful earthquake that hit the two countries earlier this month. The visit illustrates the gradual acceptance of the once-isolated Syrian...

Jordanian state broadcaster Al-Mamlaka said the meeting, which kicked off in the Red Sea resort of Aqaba, was "the first of its kind in years between Palestinians and Israelis with regional and international participation" and would address "the situation in the Palestinian territories". Palestinian intelligence chief Majed Faraj and the...

Jordan, the United Arab Emirates, Egypt and Bahrain announced the signing of 12 agreements and partnerships worth over US$2 billion for nine joint industrial projects. The announcement came following a meeting of the Integrated Industrial Partnership for Sustainable Economic Development. Jordan Prime Minister Bisher Khasawneh oversaw the signing of the...

Jordan will host a "political-security" meeting between Israel and the Palestinians to try and restore calm to the occupied Palestinian territories after deadly violence, a Jordanian government official said. The meeting to be held in the Red Sea resort of Aqaba will also be attended by United States and Egyptian...

The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan's capital Amman.

Cairo, Egypt--Egypt has set an initial yield of 11.625 percent for the sale of its three-year, dollar-denominated sukuk on Tuesday as part of the country’s measures to defuse its foreign exchange crisis. The sukuk will be of benchmark size or in the range of $500 million. Egypt’s finance minister Mohamed...

Riad Salameh, who became the head of the central bank in 1993, has come under increased scrutiny both at home and abroad

Cairo, Egypt--For most of their lives, children from historic Cairo's Al-Khalifa district only saw the mausoleums, mosques and madrasa schools that pepper their neighborhood from outside heavy bronze doors. In one of the world's oldest Islamic cities, communities were becoming increasingly separated from the centuries-old buildings they lived alongside --...

Experts say the deals could be a win-win for all sides, but unlike old Gulf largesse of unconditional aid, the new deals will require reforms. Cairo hopes the cash injection will plug what the IMF warns is "a financing gap of about $17 billion over the next four years".

Abu Dhabi, UAE--ADNOC Distribution announced on Wednesday that it has completed its acquisition from TotalEnergies Marketing Afrique SAS of a 50% stake in TotalEnergies Marketing Egypt LLC. The closing of this landmark transaction, which was first announced in July 2022, marks the official entry of the UAE’s largest fuel and...

A military court had found Geneina guilty in 2018 of "spreading information to harm the military", after he had said in an interview with news website HuffPost Arabi that a former presidential candidate held documents that would "incriminate many people" within the regime. Geneina became a top aide to former...

Rights group Amnesty International has said Sultan Al Jaber is "unfit" for the COP28 presidency, being the CEO of state-owned oil giant ADNOC, while Western officials have defended his role in the crucial talks set for November and December.

Cairo, Egypt - Palestinian president Mahmud Abbas on Sunday accused Israel of having "crossed all red lines" in the occupied West Bank and east Jerusalem and urged world leaders to put an end to its actions. The international community must "protect" the Palestinian people and "put a stop to Israeli aggression......

The rise in adjusted net profit driven by high energy prices.

Cairo, Egypt-- Moody's has lowered Egypt's sovereign rating by one notch to B3 from B2 on Tuesday, citing the country's reduced external buffers and shock absorption capacity. The agency changed its outlook for Egypt to stable from negative. "Moody's does not expect Egypt's liquidity and external positions to rebound quickly," the...

"The Kurdistan Regional Government confirms the halt of oil exportation through #Turkey's Ceyhan due to the #earthquake that struck several areas in the country," tweeted Lawk Ghafuri, head of foreign media relations in Kurdistan.

The army stressed it was not rocket or other fire that posed a threat to Israelis. "It was not a projectile launch. Full routine continues on the Israeli home front," it said in a statement.

Ismail was sworn in as prime minister in 2015 before resigning in 2018 as Sisi began his second presidential term, after a landslide victory against one of his supporters.

Cairo, Egypt---Thousands of Egyptian bibliophiles weave through a labyrinthine display of books, reviving an annual tradition at the Arab world's largest book fair, but this year it comes at a steep cost. The 54th Cairo International Book Fair was overshadowed by a punishing economic crisis that has seen Egypt's currency, the...

Ismailia, Egypt--A ship on Wednesday became stuck in Egypt's Suez Canal but traffic through the vital waterway was unaffected, a source from the authority managing the canal said. Connecting the Red Sea and the Mediterranean, the Suez Canal accounts for roughly 10 percent of global maritime trade and the majority of...

The index shows that Jordan scored 47 points and is ahead of 119 countries in combating corruption, including Malaysia, China, Bahrain, Kuwait, Turkey and Egypt.

Washington's top diplomat arrived in Israel on the second leg of his Middle East tour, after meeting Egyptian President Abdel Fattah al-Sisi and the country's foreign minister in Cairo.

US Secretary of State Antony Blinken arrived in Egypt at the start of a Middle East trip on which he will look to notch down Israeli-Palestinian tensions after an eruption of violence. Blinken, who will travel Monday and Tuesday to Jerusalem and Ramallah after his stop in Cairo, had planned...

The South Korean diplomat, who co-chairs the Ban Ki-moon Centre for Global Citizens, was in the UAE this weekend to launch a partnership with Dubai Cares, a civil society organization focused on training youth on "green skills". "We need a COP of solutions and a COP of action," he said.

The two leaders agreed to increase Indian investments in Egypt, which currently stand at "over $3.15 billion" according to their statement, including through a potential "dedicated land area for Indian industries in the Suez Canal Economic Zone". The economic crisis in Egypt, triggered by Russia's invasion of Ukraine last year,...

Cairo, Egypt---Egyptian archaeologists said Tuesday they had discovered an 1,800-year-old "complete residential city from the Roman-era" in the heart of the southern city of Luxor. The city, dating to the second and third centuries, is the "oldest and most important city found on the eastern bank of Luxor," according to...

Egypt's Planning Minister Hala al-Saeed said at a signing ceremony that the financing cooperation portfolio between Egypt and the corporation had reached $14.5 billion.

The Egyptian Bar Association has called off a days-long strike held in protest against the jailing of six colleagues, according a statement released by the bar association. Last Thursday the association had announced an open-ended strike to denounce their colleagues' sentencing to two years in jail over a court brawl...

The snub underlines Arab divisions over the Tripoli-based government, whose legitimacy is contested by a rival administration in the war-torn country's east. Regional heavyweights Egypt, Saudi Arabia and the United Arab Emirates were not represented at all at the gathering -- a preparatory session ahead of a foreign ministers' meeting in...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Egyptian Banking Institute (EBI) which is under the Central Bank of Egypt, discussed ways to promote cooperation in the field of training and building human capital capabilities relevant to the financial sector. This came during a meeting...

Authorities in Egypt released two noted businessmaen after some two years in pretrial detention on terrorism-related charges, according to the family. "My father Safwan Thabet and my brother Seif al-Din Thabet are with us", Safwan's daughter Mariam wrote on social media, without telling when the pair were released.

Steve Hanke, an economist at Johns Hopkins University who measures inflation based on purchasing power parity and factoring in black market exchange rates, estimated Egypt's real inflation rate at 101 percent. The economy, dominated by state and military-owned enterprises, had already struggled after successive blows, from years of political unrest...