Tag: Egypt
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Egypt Leases LNG Storage Facility to Meet Growing Import Demands
๐ช๐ฌ Amidst declining production and rising domestic demand, Egypt, formerly an exporter of gas, has leased a storage facility for LNG imports. The move signifies a shift in energy dynamics for the country. A floating storage facility with regasification capacity (FSRU) is set to be established in Egyptian waters, marking a strategic collaboration between Australian…
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Top 10 African Countries Receiving Remittances: A Lifeline for Economies
Remittances, money sent back home by migrants living abroad, are a crucial financial lifeline for many African countries. These funds contribute significantly to household incomes, support families, and boost local economies. Here’s a look at the top 10 African nations receiving remittances from their diasporas: 1. Egypt: Topping the list, Egypt benefits tremendously from its…
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Ethiopia will pay for any impact of GERD on Egypt
๐ช๐น๐ช๐ฌ Egyptโs Minister of Irrigation and Water Sources Hani Sewilam warned Ethiopia on Wednesday that any harm caused by the Grand Ethiopian Renaissance Dam (GERD) to Egypt will come at a cost. “Any dam constructed along the Nile River affects Egypt. Some impacts are manageable, others are not. Ethiopia will pay for any impact on…
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Egypt to receive first tranche of expanded IMF loan next week
๐ช๐ฌ Egypt will receive the first tranche of an expanded loan agreement with the International Monetary Fund (IMF) next week, Prime Minister Mostafa Madbouly said. Madbouly did not specify the figure, but the IMF said on Friday the expanded $8 billion financial support program enables the immediate release of $820 million. The agreement expands a…
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Capricorn Energy receives $30 million in payments from Egypt
๐ช๐ฌ Oil producer Capricorn Energy said on Thursday it received a payment of $30 million this week from the Egyptian government after its debt to the company rose to $169 million last year. Chief Executive Randy Neely said: “Throughout my twelve years working in Egypt, and looking further back, the Government of Egypt has always…
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European Union announces $8 billion package of aid for Egypt
The European Union on Sunday announced a $8 billion aid package for Egypt amid concerns that economic pressure and conflicts and chaos in neighboring countries could drive more migrants to European shores. The deal is scheduled to be signed during a visit by European Commission president Ursula von der Leyen and the leaders of Belgium,…
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๐ช๐ฌ๐ฟ๐ฆ Three Coptic Egyptian monks killed in South Africa
Three Coptic Egyptian monks were killed in a “criminal assault” inside a Coptic monastery in South Africa, the Christian Coptic Orthodox Church of Egypt said. “Three monks were subjected to a criminal assault inside our Coptic monastery,” the spokesman of the Coptic Orthodox Church said. One of the three monks killed was a representative of…
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