The Egyptian Electricity Company denied the news circulating about issuing a decision excluding coastal cities from reducing electricity loads.

The Egyptian Electricity Company issued an official statement today on its official Facebook page, completely denying the news circulating through the Egyptian media about issuing a decision excluding coastal cities from the decision to reduce daily electrical current loads.

The company confirmed in its statement that everything that was circulated in this regard was “completely false,” calling on citizens not to believe any data that was not officially issued by the competent authorities.
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#Egypt #Egypt_News #Egyptian_Coastal_Cities #Egyptian_Electricity_Company #Egyptian_Government #Electric_Energy

Egypt announced urgent measures to import additional quantities of gas and diesel, as a result of increasing consumption in light of rising temperatures.

The Ministries of Electricity and Petroleum announced in a joint statement the continuation of the plan to reduce electricity loads, which began on Sunday, by increasing an additional hour to three hours per day until the end of this week.

The two ministries attributed this step to the necessity of maintaining the safe and stable operation of the gas network and electricity production stations, and they apologized to the Egyptians for the interruptions.

The statement explained that the severe rise in temperatures above normal levels for this period requires an increase in the period of reducing loads, indicating that this rise affects many countries in the region.
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#Egypt #Egyptian_Government #Egyptian_Ministry_of_Electricity #Egyptian_Ministry_of_Finance #Egyptian_Prime_Minister #Electricity_Outage #Mustafa_Madbouly

The Sudanese community in Egypt faces strict measures from the Egyptian authorities, who decided to close several illegal Sudanese schools.

Sudanese sources confirmed that the Egyptian authorities informed the administrations of these schools of the necessity of closing until all the required legal papers and approvals were completed, and granted the students open leave until further notice.

The Egyptian authorities announced that they would stop all unregulated commercial activities for Sudanese, starting next Sunday. This decision came after a wave of criticism in some Egyptian circles against Sudanese refugees, especially after a map of Sudan, which includes Halayeb and Shalatin, was placed on the windows of Sudanese shops, which sparked demands for their deportation. .
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#Africa #Egypt #Egyptian_Government #Halayeb #Illegal_Immigration #Shalatin #Sudan #Sudanese_community_in_Egypt

The new Egyptian government was sworn in before President Abdel Fattah El-Sisi, in light of major economic challenges and raging conflicts in neighboring countries.

The changes coincide with growing popular discontent due to years of economic mismanagement, the coronavirus pandemic, and the repercussions of wars in Europe and the Middle East.

The new government, headed by Mostafa Madbouly, witnessed fundamental changes in the ministerial portfolios related to defense and economy, and some ministers remained in their positions, such as the ministers of police, health, and transportation.

Sherif Fathi replaced Ahmed Issa as Minister of Tourism and Antiquities in the new government. Mahmoud Esmat was appointed as Minister of Electricity to deal with recurring power outages during the summer.
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#Abdel_Fattah_Al_Sisi #Coronavirus #Egypt #Egyptian_economy #Egyptian_Government #Egyptian_President #Europe #Middle_East #Red_Beans #Suez_Canal

During the ceasefire negotiations in Cairo, Israel proposed the idea of building an underground barrier extending along the border with the Gaza Strip.

The Israeli website “Epoch” published that the Israeli government is putting pressure on the Egyptian government to establish two barriers, one overhead and the other underground, along the “Philadelphia Axis,” as well as moving the Rafah crossing site to another new location.

Egypt opposes making any changes to its borders with the Gaza Strip, especially with regard to the Rafah crossing and the Philadelphia axis.

In this context, the Israeli Channel 12 announced that the Israeli army is also planning to expand the newly created “buffer zone” in Philadelphia to include broader activities to uncover hitherto unknown tunnels.
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#Cairo #Egypt #Egyptian_Government #Gaza_Strip #Gaza_War #Israel #Israeli_Government #Philadelphia_Axis #Rafah_Crossing

The Egyptian Council of Ministers denied the news circulating about the cessation of operation of the two largest power plants in the country as a result of the delay in financial payments to Siemens Energy Company, which operates them.

In an official statement, the Egyptian government confirmed that the news circulating on social media platforms regarding the withdrawal of Siemens Energy from operating the stations as a result of delayed financial dues was incorrect.

The government stressed the commitment of the Ministry of Electricity and Renewable Energy to pay all financial dues to the company on the specified dates, in accordance with the contract concluded between the two parties.
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#Al_Burlus #Beni_Suef #Egypt #Egyptian_Cabinet #Egyptian_Government #Financial_Dues #Siemens_Energy_Company #Social_Media_Platforms

The International Monetary Fund announced on Friday that the inflation rate in Egypt declined for the fourth month in a row, reaching less than 28% in June 2024, compared to 35.6% last February.

This decrease is due to economic reform efforts and the Egyptian authorities’ support for macroeconomic indicators.

Ivana Hollar, head of the International Monetary Fund mission in Egypt, said that on July 29, the Fund’s Board of Directors will discuss disbursing the third tranche of the loan, amounting to $820 million.

After disbursing this tranche, Egypt has the right to apply for additional financing worth $1.2 billion from the Resilience and Resilience Fund.

The International Monetary Fund indicated at the beginning of this month that the decision to unify the exchange rate, which was taken by the Egyptian authorities last March, improved the financial conditions in the country.
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#Egypt #Egypt_s_Economy #Egyptian_Government #Inflation #International_Monetary_Fund #Ivana_Hollar

On Saturday, the Egyptian government denied an audio clip talking about its intention to sell the Suez Canal for a trillion dollars.

The Presidency of the Egyptian Council of Ministers said in a statement published on its Facebook page today, “Some social media pages circulated an audio clip claiming that the government intends to sell the Suez Canal for one trillion dollars. The Cabinet Media Center contacted the Suez Canal Authority, which denied this news.”

She added, “There is no truth to the government’s intention to sell the Suez Canal for a trillion dollars, and that the audio clip circulating is fabricated, and the information contained in it is fake and has no connection to reality.
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#Egypt #Egypt_News #Egyptian_Constitution #Egyptian_Government #Suez_Canal

The Egyptian Minister of Finance, Ahmed Kajouk, announced in a statement issued today that the total deficit in Egypt’s general budget decreased during the fiscal year 2023-2024 by 17%.

During the fiscal year ending last June 30, it decreased to 505 billion pounds ($10.5 billion), compared to 610 billion pounds in the previous fiscal year.

The minister pointed out that Egypt recorded a primary surplus of 857 billion pounds in the 2023-2024 budget, compared to 164 billion pounds in the previous fiscal year, which reflects a noticeable improvement in financial performance.

The Egyptian government allowed the pound’s exchange rate to decline by 29% against the dollar last March, with the aim of reducing the rise in inflation.
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#Ahmed_Kajouk #Egypt #Egypt_s_Economy #Egypt_s_General_Budget #Egyptian_Government #Egyptian_Minister_of_Finance #Egyptian_Pound

The Egyptian government announced the suspension of the plan to reduce electricity loads from today until mid-September, after the arrival of new shipments of gas contracted by the country.

Egyptian Prime Minister Mostafa Madbouly confirmed in a press statement that the government decided to stop reducing electricity loads during the summer, noting that $1.18 billion had been allocated to provide the necessary products to enhance electricity supply.

A government official revealed that the quantities of natural gas and diesel fuel supplied to power plants increased by about 9% during the past week.

He added that the Egyptian Natural Gas Holding Company (EGAS) increased the daily quantities of gas directed to power stations to about 120 million cubic meters, compared to 110 million cubic meters during the same period last month.
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#EGAS #Egyptian_Gas #Egyptian_Government #Egyptian_Prime_Minister #Electricity_Loads #Mostafa_Madbouly

The Egyptian government announced a wide increase in fuel prices on Thursday, four days before the third review of the International Monetary Fund’s $8 billion extended loan program for Egypt.

The new price details include: 80-octane gasoline: the price per liter rose to EGP 12.25 ($0.25), a 15% increase; 92-octane gasoline: the price per liter became EGP 13.75 ($0.28); 95-octane gasoline: the price per liter reached EGP 15 ($0.31); and diesel: the price per liter rose to EGP 11.50 ($0.24) from EGP 10 ($0.21), a larger increase than gasoline.

The increase comes as part of Egypt’s commitment to reduce fuel subsidies as part of its agreement with the International Monetary Fund, with the government raising fuel prices for the second time since March.
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#Egypt #Egyptian_Government #Fuel #Gaza_Strip #Houthis #IMF #Israel #Julie_Kozak #Mostafa_Madbouly #Red_Sea #Suez_Canal

Egyptian Finance Minister Ahmed Kojak announced the Egyptian government’s efforts to boost bilateral trade with Turkey, targeting $15 billion in the coming years.

During the minister’s meeting with his Turkish counterpart, Mehmet Simsek, on the sidelines of the G20 events held in Brazil, Kojak stressed the desire to strengthen economic relations between the two countries to achieve mutual benefits, especially in light of global and regional economic challenges.

He pointed out that mutual cooperation could include areas such as climate change and sustainable development, through joint initiatives aimed at enhancing sustainability and protecting the environment.
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#Ahmed_Kojak #Climate_Change #Egypt #Egyptian_economy #Egyptian_Government #Sustainable_development #Turkey

Experts have warned that the Nile Basin countries may face a water crisis in the coming years, with growing concerns about the effects of the Ethiopian Renaissance Dam on the water shares of downstream countries.

Dr. Abbas Sharaky, Professor of Water Resources at Cairo University, confirmed that the possibility of the region being exposed to a drought period in the near future seems great, which calls for taking urgent measures to enhance water reserves.

Sharaky explained that the impact of the Renaissance Dam will be great on the flow of water to Egypt and Sudan, as the Ethiopian side aims to store about 74 billion cubic meters of water, which exceeds the annual share of the downstream countries combined.

The Egyptian expert added that filling the dam reservoir will continue until September, and large quantities of water are held behind its gates.
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#Cairo_University #Dam_Reservoir #Egypt #Egyptian_Government #Ethiopia #Nile_Basin #Renaissance_Dam #Water_Crisis

The Egyptian government has decided to liquidate the “Metallco” company, which operates in the field of metal construction, after more than half a century since its launch, due to the accumulation of huge losses and debts amounting to billions of pounds.

The decision came after studying the company’s financial situation, which showed the futility of its continuity, as the company’s extraordinary general assembly discussed this issue, and it became clear to it that “Metallco” is suffering from increasing losses that reached about 975% of shareholders’ equity, and an accountant was assigned to liquidate the company.

The company was unable to overcome financial difficulties despite previous rescue attempts, and accumulated debts amounting to 1.476 billion pounds and negative working capital of 1.
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#Bankruptcy #Debts #Egypt #Egyptian_Government #Losses #Metal_Industries

Muteb Al-Shathri, representative of the Saudi Public Investment Fund, announced that the fund’s investments in Egypt amounted to $3 billion.

This came during a meeting that brought together Dr. Mostafa Madbouly, Prime Minister of Egypt, and Eng. Khalid Al-Falih, Saudi Minister of Investment, in the presence of a delegation of senior officials from both countries.

Al-Shathri stressed during the meeting the importance of the existing cooperation between the Saudi Fund and the Egyptian Sovereign Fund, noting that the offering program adopted by the Egyptian government constitutes a strong foundation for this cooperation, as it resulted in fruitful partnerships between Egyptian and Saudi companies.
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#Egypt #Egyptian_economy #Egyptian_Government #Egyptian_Prime_Minister #Egyptian_Sovereign_Fund #Egyptian_Saudi_Business_Council #Khaled_Al_Falih #Mustafa_Madbouly #Saudi_Arabia #Saudi_investments_in_Egypt #Saudi_Minister_of_Investment #Saudi_Public_Investment_Fund

The Egyptian government denied, on Saturday, the news circulating on some social media pages about its intention to sell Egyptian airports to foreign parties.

The Egyptian Cabinet’s media center confirmed in a statement that it had contacted the Ministry of Civil Aviation, which in turn denied the news.

The ministry stressed that Egyptian airports are fully owned by the state and subject to Egyptian sovereignty, explaining that the state is implementing an integrated strategy aimed at raising the efficiency of airports and increasing their capacity, as a number of infrastructure development projects are being implemented at airports, upgrading the security system and modernizing all security devices.

The ministry stressed the expansion of the airline network by opening new markets and supporting low-cost aviation activity.
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#Aviation #Egypt #Egyptian_airports #Egyptian_Cabinet #Egyptian_Government #Ministry_of_Civil_Aviation #Private_Sector

The Central Bank of Egypt announced today a significant increase in remittances from Egyptians working abroad during last June, as they rose by 65.9% to reach about $2.6 billion, compared to about $1.5 billion in June 2023.

Remittances witnessed a significant improvement after implementing the reform measures announced on March 6, 2024, as remittances in February 2024 were estimated at about $1.3 billion, reflecting the positive impact of these measures.

The Central Bank also showed a significant increase in remittances during the period from April to June 2024, as they recorded an increase of 61.4% to reach about $7.5 billion, compared to about $4.6 billion in the same period of the previous year.
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#Central_Bank_of_Egypt #Egypt #Egypt_s_Economy #Egyptian_government_reforms #Remittances_from_Egyptians_working_abroad

Egypt recently received three large shipments of diesel fuel, totaling 160,000 tons, at the ports of Ain Sokhna, Alexandria and Suez.

An official at the Ministry of Petroleum and Mineral Resources stated that these shipments were distributed in varying loads, amounting to 90,000 tons, 30,000 tons and 40,000 tons respectively.

These shipments arrived last Tuesday and were mainly allocated to power stations in Egypt, with the aim of supporting the strategic fuel stock and improving generation efficiency.

The official added that the rest of the Egyptian government’s diesel contracts will arrive successively over the next two months, which will contribute to achieving stability in energy provision.
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#Alexandria #Egypt #Egyptian_Cabinet #Egyptian_Government #Egyptian_Ministry_of_Petroleum_and_Mineral_Resources #Egyptian_power_stations #Fuel #Mustafa_Madbouly #Suez

The Ministry of Foreign Affairs and International Cooperation of the outgoing Government of “National Unity” in Libya commented on Egypt’s reception of the head of the government assigned by the House of Representatives, Osama Hamad.

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The Ministry of Foreign Affairs and International Cooperation of the Government of National Unity expressed its dissatisfaction and rejection of what it described as “the diplomatic action taken by the Egyptian government to officially receive parallel bodies that do not enjoy any international recognition.
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#Egypt #Egypt_News #Egyptian_Government #El_Alamein_City #Government_of_National_Unity #Libya #Libya_News #Osama_Hamad #Reconstruction

The Ministry of Foreign Affairs of the Libyan government assigned by the House of Representatives called on all countries to transfer their embassies and representatives of diplomatic and international bodies and institutions to the city of Benghazi instead of the capital, Tripoli.

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The ministry explained in a statement that Benghazi enjoys a state of security, safety and stability, unlike the unstable security conditions in Tripoli.

The ministry expressed in its statement its appreciation for Egypt’s position and its efforts to strengthen bilateral relations between the two countries.
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#Benghazi #Egypt #Egyptian_Government #Interim_Government_of_National_Unity #Libya #Libyan_Crisis #Libyan_government_designate_by_the_House_of_Representatives #Ministry_of_Foreign_Affairs_of_the_Libyan_government_designate #Osama_Hamad #Tripoli