Tag: Egypt
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Cairo telecom fire injures 14, disrupts internet nationwide
A fire engulfed the main telecom company building in downtown Cairo on Monday, injuring at least 14 people and prompting a temporary outage of internet and mobile phone services, officials said. The 14 injured were taken to nearby hospitals, the Health Ministry said in a statement. A witness told news broadcaster Cairo 24 that two…
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🇪🇬 Scatec signs PPA with Egypt Aluminium for major solar + BESS project
Scatec ASA, a leading renewable energy solutions provider, today signed a 25-year USD-denominated corporate Power Purchase Agreement (PPA) with Egypt Aluminium for a 1.1 GW Solar PV + 100 MW/200MWh BESS project in Egypt backed by a sovereign guarantee. Egypt Aluminium is the largest aluminium producer and industrial electricity consumer in Egypt and exports approximately…
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🇪🇬IMF approves $1.2 billion more for Egypt’s economic recovery
The International Monetary Fund said Tuesday it completed its fourth review of Egypt’s economic reform program approving a $1.2 billion disbursement for the North African country. The IMF said in a statement it completed its fourth review on Monday and Egyptian authorities can immediately draw the funds. The IMF executive board also granted Egypt’s request…
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🇪🇬 Egypt hosts 1.2 million Sudanese, with ‘hundreds’ arriving daily: UN
Hundreds of people fleeing war-torn Sudan arrive in neighbouring Egypt every day, a UN official said Sunday, adding to more than 1.2 million who have found refuge there, according to official figures. The war between rival Sudanese generals since April 2023 has killed tens of thousands of people and displaced more than 11 million, with…
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🇪🇬 Egypt’s IMF Deal May be Reviewed Due to Economic Pressure, Sisi Says
Egypt’s president suggested its International Monetary Fund program might need to be reviewed if economic pressures place an intolerable burden on the country’s more than 106 million people. The $8 billion IMF deal reached earlier this year is being implemented under “extremely difficult regional, international and global circumstances,” President Abdel-Fattah El-Sisi said Sunday in comments…
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War in Gaza Deepens Economic Woes in Egypt
Egypt’s economy, already grappling with years of instability, faces even greater challenges as the ongoing war in Gaza adds new layers of strain. The escalation of violence between Israel and Palestinian forces—alongside heightened tensions with regional neighbors—has further complicated Egypt’s path to economic recovery and reform. Economic Pressures Before the Conflict Egypt has been wrestling…
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Long-awaited Grand Egyptian Museum opens 12 galleries to the public
The much-anticipated Grand Egyptian Museum, housing the world’s largest collection of ancient Egyptian artefacts, has finally partially opened to visitors. A series of galleries have been opened to the public over a decade after construction on the mega-museum got underway. Situated near the famous Giza pyramids, it was initially due to open in 2012, but…
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Iran’s Foreign Minister Makes Historic Visit to Egypt After 12 Years
In this photo provided by Egypt’s presidency media office, Egyptian President Abdel-Fattah el-Sissi, right, meets with Iranian Foreign Minister Abbas Araghchi, at the Presidential Palace in Cairo, Egypt, Thursday, Oct.17, 2024. In a significant diplomatic development, Iran’s Foreign Minister has arrived in Cairo, marking the first official visit by a top Iranian diplomat to Egypt…
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Morocco launches anti-dumping investigation into Egyptian steel imports
The Ministry of Industry and Trade has launched an investigation into steel sheet imports from Egypt amid suspicions of dumping after a complaint from Maghreb Steel regarding a questionable increase in Egyptian imports, which it claims adversely affects the national industry. In a notice published on Thursday, October 10, the department stated that it had…
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Egypt ships arms to Somalia amid tensions with Ethiopia
The Somali government has received a large shipment of arms from Egypt, according to local media reports. The shipment comes amid ongoing tensions with Ethiopia sparked by a controversial port agreement in the breakaway region of Somaliland. Widely circulated videos show armored military vehicles transporting the weapons from Mogadishu after two Egyptian ships arrived at…
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