Month: October 2022

Egypt’s President Abdel Fattah El Sisi laid on Monday a wreath on the Unknown Soldier Memorial to mark the 49th anniversary of the October war victory.

Sisi also laid wreaths on the tombs of late presidents Anwar el Sadat and Gamal Abdel Nasser, Presidential Spokesman Bassam Radi said.

The President was accompanied with Lieutenant-General Muhammad Zaki, Commander-in-Chief of the Armed Forces, Minister of Defense and Military Production, and Lieutenant-General Osama Askar, Chief of Staff of the Armed Forces War.

The military music played “the martyr’s” piece in an authentic military tradition to honor of the martyrs of Egypt.

Source: Egypt Today Magazine

Egypt’s Foreign Minister Sameh Shoukry said on Sunday that Egypt attaches great importance to relations with Germany.

During a meeting with President of Germany’s Friedrich-Ebert-Stiftung Martin Schulz in Cairo, the foreign minister described Germany as an important political and economic partner of Egypt.

He also praised efforts exerted by German institutions, topped by Friedrich-Ebert-Stiftung, in support of Egypt’s economic and social development, Spokesman for the Foreign Ministry Ahmed Abu Zeid said.

Schulz was keen to get acquainted with Egypt’s vision on the regional and international developments and effects of climate change within the framework of Egypt’s presidency of the 2022 UN climate conference, COP27, the spokesman added.

Shoukry also briefed Schulz on the vision adopted by Egypt towards the Ukrainian-Russian conflict and its impact on food security and energy.

Source: Egypt Today Magazine

Kuwaiti investments in Egypt are estimated at about $15 billion, while the volume of trade exchange between the two countries amounted to about $5 billion, Finance Minister Mohamed Maait.

“Kuwait is the third largest Arab trading partner, and the fourth largest global trading partner among the investing countries, and there are about 105 joint agreements covering various fields,” according to the Minister of Finance before the Egyptian-Kuwaiti Economic Forum, Monday.

He noted that during the last fiscal year, Egypt succeeded in achieving good performance in some vital sectors, as the Suez Canal recorded the highest return of about $7 billion, and the oil sector recorded surpluses of about $5 billion, while our exports of natural gas amounted to $500 million per month.

“Egypt is adopting an ambitious strategy to diversify sources and financing tools and reduce the cost of development projects, especially in light of intertwined global economic challenges,” the Minister of Finance said.

“Egypt was one of the first countries in the Middle East and North Africa to issue green bonds worth $750 million in September 2020, and the return from it was directed to environmentally friendly national projects,” Maait explained.

“We are currently studying the issuance of sovereign sukuk, green sukuk and green samurai bonds, after we succeeded in issuing the first offering of samurai bonds, worth $500 million, and we also aim to issue sustainable development bonds with a social dimension, and enter the Chinese markets,” the Finance Minister added.

In September, Maait added that the Egyptian government is studying with the Japanese side the issuance of “green samurai” bonds during the coming period, after the success of the first 60 billion Japanese yen bond issuance in the Japanese market, in a way that attracted many Japanese investors.

In March, Egypt issued Japanese Yen-denominated bonds with a total of $500 million, the first of their kind in Egypt and the Middle East.

The Samurai bond is a yen-denominated bond issued in Tokyo by non-Japanese firms and is run under Japanese regulations.

Source: Egypt Today Magazine

Prime Minister Moustafa Madbouly said Monday that Egypt is following up developments of the current global crises with the aim to reduce their severe repercussions for the Egyptian economy.

Madbouly was speaking during a meeting with Petroleum Minister Tareq al-Molla to discuss efforts to secure oil products to meet needs of the local market, especially in light of the Russian-Ukrainian tension.

The meeting also took up the global energy price hikes, with Molla assuring that the petroleum sector is acting to increase Egypt’s production of high quality oil and reduce imports.

Source: Egypt Independent

President Abdel Fattah El Sisi chaired a meeting of the Supreme Council of the Armed Forces on Monday to review the Armed Forces’ activities and efforts to preserve Egypt’s national security on all strategic directions, and in cooperation with all State Institutions, said Presidential Spokesman Bassam Rady.

During the meeting, Presided Sisi also extended greetings to the Egyptian people and the Armed Forces personnel on the occasion marking the anniversary of October War victory.

Earlier on Monday, Sisi laid a wreath on the Unknown Soldier Memorial to mark the 49th anniversary of the October war victory.

Sisi also laid wreaths on the tombs of late presidents Anwar el Sadat and Gamal Abdel Nasser, Presidential Spokesman Bassam Radi said.

The President was accompanied with Lieutenant-General Muhammad Zaki, Commander-in-Chief of the Armed Forces, Minister of Defense and Military Production, and Lieutenant-General Osama Askar, Chief of Staff of the Armed Forces War.

Source: Egypt Today Magazine

Member of Egypt’s Presidential Pardon Committee Mohamed Abdel Aziz said that new patch of the prisoners will be released within the coming hours.

During televised statements he said that the committee receives daily requests from the families of those held in pretrial detention or those who have been convicted.

Egypt’s Ministry of Interior announced, Monday granting all inmates of the reform and rehabilitation centers two exceptional visits, on the occasion of the celebration of October 6 war victory, and the birth of Prophet Mohamed.

The two visits start from Sunday, October 9, until Wednesday, November 9, next month.

These visits come within the framework of the Ministry of Interior’s keenness to uphold human rights values, implement the punitive policy with its modern approach, provide various aspects of care for inmates, provide all aspects of support and care for inmates of correctional and rehabilitation centers, and support them psychologically by giving them the opportunity to participate with their families in various events.

Last Month, Egypt’s President Abdel Fattah El-Sisi issued Resolution No. 485 of 2022 regarding pardoning number of the convicts on the occasion of the 6th of October war celebrations

The resolution was published in the Official Gazette.

Egypt has released hundreds of inmates over the past month since President Sisi called for a national dialogue in April, including pretrial detainees and pardoned inmates.

The Presidential Pardon Committee, formed in 2016 and reactivated by Sisi in April, aims to release young prisoners of conscience and reintegrate them into society.

Source: Egypt Today Magazine

Egypt and Greece on Monday denied the right of Libya’s “outgoing” Government of National Unity (GNU) in Tripoli to sign international deals and MoUs.

In a phone call, Egypt’s Foreign Minister Sameh Shoukry and Greek Foreign Minister Nikos Dendias discussed the developments of the Libyan file and bilateral relations.

The ministers also agreed on the continuation of consultations on various regional and international issues of mutual concern within the framework of mutual coordination between the two countries.

The two ministers’ remarks come while Libya’s GNU signed a number of economic deals with the Turkish government in Tripoli with a gas exploration deal also in sight, a step that threatens to raise tensions between Greece and Turkey.

Greece considers today’s deals as part of a highly-controversial 2019 deal between Turkey and the former Tripoli-based government in 2019.

The 2019 agreement to delineate maritime boundaries between Turkey and Libya was condemned by Egypt, Greece, and Cyprus, affirming that it disregards their lawful rights in the Mediterranean.

Egypt and Turkey have been working to ease their tensions on the bilateral level, extending since the 2013 revolution, which ousted former Muslim Brotherhood leader Mohamed Morsi and ended his tenure after one year as president.

However, the two countries have not yet brought back their relations to normal and share conflicting visions on the regional arena, especially in Libya.

Source: Egypt Today Magazine

Egypt’s Foreign Minister and President-designate of UN Climate Change Conference 2022 (COP27) Sameh Shoukry has called for putting aside narrow national interests and prioritizing the spirit of collective responsibility.

Shoukry’s remarks were made on Monday while addressing more than 60 ministers at PRECOP27 conference held in the Congolese capital of Kinshasa only a month ahead of COP27.

During his speech, Shoukry affirmed the need of focusing on finding solutions at COP27 that achieve the international collective interest of facing climate change.

Shoukry stressed the importance that Egypt attaches to moving to the stage of implementing climate commitments on the ground, highlighting the efforts Egypt makes in light of its presidency and hosting of COP27.

The PRECOP27 has focused on the main issues that will be tackled during COP27, including efforts to reduce carbon emissions, climate change adaptation, climate finance, and the adverse impacts of climate change.

Egypt is preparing to host COP27 between 6 and 18 November and has been keen to build on the success of Glasgow summit (COP26) in a bid to turn climate pledges into actions.

The African country has repeatedly affirmed that it will speak for Africa’s aspirations regarding the climate file, with African countries being the most affected with climate change impacts despite being a small contributor to these effects.

In September, African Union’s Commissioner for Rural Economy and Agriculture Josefa Sacko said Africa is counting on the Egyptian presidency of COP27 to advance the interests of the continent regarding climate issues.

Source: Egypt Today Magazine

The Egyptian National Railways Authority (ENR) announced that handicapped people and their traveling companions can now receive a 50 percent discount, for air-conditioned, luxury and regular trains upon showing the identity card issued by Social Solidarity Ministry or its affiliated offices.

The ENR added that its decision comes upon directives from Transport Minister, Kamel al-Wazir, to pay close attention to various categories of passengers, especially those handicapped, based on the social responsibility of the ENR, as a service authority for all segments of Egyptian society and to reduce financial and social burdens.

The ENR confirmed that all discounted tickets for disabled people and their companions on trains, are booked through the ticket windows before boarding the train, in order to avoid paying the full fare, in addition to the prescribed fine.

Source: Egypt Independent